Gold miner Quimbaya terminates agreement with Denarius Metals
Quimbaya Gold Inc., a Canadian mining company with a global presence, continues to push forward with its exploration plans for the Tahami Project in Colombia, following the termination of a joint venture agreement with Denarius Metals Corp.
The company, which trades on various stock exchanges including the Canadian Securities Exchange (QIM), the OTCQB (QIMGF), the Frankfurt Stock Exchange (K05), and the OTC Markets (QIMGF), will now independently advance the Tahami Project.
Alexandre P. Boivin, the President and CEO of Quimbaya Gold Inc., expressed confidence in the geological potential of Tahami and the strength of Quimbaya's position. He added that the company will continue to pursue alternative structures to support the formalization of artisanal mining in the Segovia District, aligning with its commitment to responsible mining, inclusive economic participation, and strong community engagement.
Sebastian Wahl, the VP Corporate Development of Quimbaya Gold Inc., stated that the termination of the joint venture agreement did not affect Quimbaya Gold Inc.'s exploration plans or its commitment to advancing the Tahami Project.
Quimbaya Gold Inc. retains 100% ownership of the Tahami Project, including the drill-ready Tahami South. The company is currently executing a fully funded 2025-2026 exploration program, which includes a 4,000-meter drilling campaign scheduled to commence at Tahami South soon.
Quimbaya Gold Inc. aims to discover gold resources through exploration and acquisition of mining properties in Colombia's prolific mining districts. The company is managed by an experienced team in the mining sector and is focused on three projects in the regions of Segovia, Puerto Berrio, and Abejorral, all located in Antioquia Province, Colombia.
Readers are cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to exploration and other activities on the company's mineral properties, financing, permitting, market trends, mineral exploration results, prices for gold, currency exchange rates, availability of funds, prices for energy inputs, labour, materials, supplies and services, labour-related disruptions, unplanned delays or interruptions in scheduled construction and production, regulatory approvals, investor participation in the Offering, and the company's ability to comply with environmental, health and safety laws.
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[1] Denarius Metals' decision not to proceed with the proposed 50/50 joint venture was due to operational challenges and unfavorable conditions for small-scale mining formalization in the Segovia Gold District of Antioquia, Colombia.
[2] Quimbaya Gold Inc. emphasized its confidence in the geological potential of Tahami and its strategic importance, continuing to evaluate opportunities to responsibly advance the project and generate long-term stakeholder value.
[3] Quimbaya Gold Inc. will continue to evaluate opportunities that can responsibly advance the project and generate long-term value for all stakeholders.
The termination of the joint venture with Denarius MetalsCorp has not deterred Quimbaya Gold Inc. from pursuing financing opportunities in the finance sector, as they continue to push forward with their exploration plans for the Tahami Project in Colombia. Utilizing their 100% ownership of the project, Quimbaya Gold Inc. is looking into market trends in the mining sector to secure alternative structures that align with their commitment to responsible mining, inclusive economic participation, and strong community engagement.
