Good
morning!
Please
find enclosed a news release issued this morning. If you have any questions or
require further information, please do not hesitate to call.
Best
regards,
Sophia Shane
Ph.
604-689-7842
ATACAMA RECEIVES
APPROVAL FOR NEW POWERLINE
TO AGUAS BLANCAS
MINE IN NORTHERN CHILE
October 11,
2007… Atacama Minerals Corp. (“Atacama” or the
“Company”) (TSX Venture: AAM) is pleased to announce
that it has received approval from the Regional Environmental Authority of
Antofagasta, northern Chile (COREMA), for the construction of a new powerline
connecting the Aguas Blancas Mine with the local power grid. The new powerline
will extend for 28 kilometers and will cost approximately US$8.2 million
including two new substations and a 69 kilovolt transmission line. Construction
of the powerline is expected to be completed and operational by the end of the
first quarter of 2008.
The new powerline will replace the
current system of diesel powered generators at the mine site and provide for a
long-term reliable source of energy for future operations.
The Company is currently in the
construction phase of a new mechanical agitated leach plant designed to replace
the current heap leaching system which will facilitate an increase in
production from current levels of approximately 900 tonnes per year iodine to
1,500 tonnes per year iodine. The agitated leach plant is expected to be
operational the first quarter of 2008 at an estimated cost of US$25.5 million.
Atacama Minerals Corp. is an
industrial minerals company producing iodine from its 100% owned Aguas Blancas mine
in the Atacama Desert of northern Chile.
On Behalf of the Board,
Edward F. Posey
President
For further information, please contact:
Sophia Shane, Corporate Development (604) 689-7842
The TSX Venture Exchange has not
reviewed and does not accept responsibility for the adequacy or accuracy of
this release.