HZM.L Regulatory News (HZM)

3 Jun 2008 09:00



Horizonte Minerals plc / Index: AIM / Epic: HMZ / Sector: Mining

June 3, 2008

Horizonte Minerals plc ('Horizonte' or 'the Company')

AGM Statement

At the meeting, CEO Jeremy Martin made the following statement:

"The last year has seen many developments for Horizonte, as we continued to develop our gold, silver and base metals portfolio in Brazil and Peru. Our exploration and development programmes over our three primary projects have progressed well. Troy Resources, our Joint Venture partner, is rapidly advancing the Tangara gold project in Brazil where there are three drill rigs active on the project. In Peru an in-house resource estimate is in the final stages of preparation for the El-Aguila Silver-Lead-Zinc Project. The current focus is on the Lontra nickel project where the 50 hole diamond drilling programme is progressing well and the first results are expected imminently. In parallel with these developments we are continuously exploring for additional high quality projects to complement our existing portfolio.

"With a healthy cash position of £2.1 million and committed exploration teams both in Brazil and Peru, the Company is well placed to achieve its current targets and in turn enhance shareholder value during 2008." 

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For further information visit www.horizonteminerals.com or contact:

Notes to Editors:

Horizonte Minerals plc is an AIM listed exploration and development company with a portfolio of gold, nickel, silver, lead and zinc projects in producing mineral districts in Brazil and Peru.  It has three primary projects working towards a resource definition including the 22,556 hectare Lontra nickel project situated in the Araguaia mobile belt, which flanks the eastern margin of the Carajas Mineral Province of northern Brazil, the silver-zinc-lead project El Aguilia in Peru, located in the historic mining district of Cerro de Pasco and the 300 sq km Falcao gold project located near the Lontra project. In addition it has a generative pipeline of early stage projects in development.

The Company is focused on generating and rapidly advancing exploration projects before joint venturing them with a major mining company to further develop the projects and provide mid-term cash flow, which can be fed back into the business and its other projects. This model was proven in December 2007 when Horizonte signed an option agreement with Troy Resources (ASX:TRY), to operate and develop its Brazilian Tangara gold project by expending a total US$2.8 million on exploration and development as well as a royalty payment on production.