Xiana Mining Inc has entered into a definitive agreement with subsidiaries of Glencore plc to acquire 100% of Minera Altos De Punitaqui (MAP), a producing copper-gold operation in Chile.

Commenting on the MAP Acquisition, Carlos Ballon, Chairman & CEO said: “MAP is an excellent cornerstone asset for Xiana which combines an existing copper and gold production base with significant upside potential. The Xiana team has a track record of development and exploration successes and we are excited by the geological potential of MAP. We look forward to building upon MAP’s potential and enhancing shareholder value through organic growth and further acquisitions in Chile & Peru”.

– MAP is a producing copper-gold operation located in Region IV of Chile

– The operations are located ~400km north of Santiago and 35 km south of Ovalle in the Coquimbo region. They benefit from water and power supply and excellent infrastructure

– The operations are in an established mining district with over 90% of employees from Punitaqui or Orvalle

– MAP has a 3,600 tpd concentrator on site, currently processing ore from 3 mines (open pit and underground)

– 2017 Production comprised ~8 kt of copper metal and 21 koz of gold (in concentrate)

– The properties comprise of IOCG, vein and Mantos style of mineralisation and are located in a prolific copper-gold district

– Current mine life of +5 years with significant upside potential to create a long life, sustainable medium sized copper producer