Revelo Resources Corp. ("Revelo" or the "Company") informs that BHP Chile Inc. ("BHPB") has elected to return all of the exploration concessions related to the Block 2 copper project located in Northern Chile.
BHPB is no longer exploring any of the concessions forming the Option and Joint Venture Agreement signed in April 2012.
BHPB carried out reconnaissance geological mapping of the Block 2 property at 1:100,000 scale, and then focused in on the Los Morros target area in the southwestern portion of the property, where mapping at 1:20,000 scale was completed. This work defined an area of interest some 6km x 3km in size, characterised by advanced argillic alteration and peripheral base and precious metals veins, and propylitic alteration, hosted within Paleocene-aged volcanic rocks. The main target area of interest, approximately 2km x 1km in size, is partially covered by post-mineral gravels.
Upon return of the all the exploration data, Revelo will review it and analyze it in order to compile new information and update its database for future potential option and joint venture opportunities with new partners.
Revelo is building a sustainable exploration business focused on securing prospective land along the prolific mineral belts of northern Chile, and by implementing effective exploration and capital management strategies to grow, advance and de-risk its portfolio to provide shareholders with multiple opportunities for exploration success.
Revelo controls approximately 350,000 Ha of 100% owned exploration tenement along proven mineral belts in northern Chile. The portfolio is comprised of 20 high-quality exploration projects prospective for copper, gold and silver, including 2 projects already under option/JV agreements with subsidiaries of Newmont Mining (Montezuma Project), and Kinross Gold (Las Pampas Project). In addition, Revelo retains a 2% royalty interest in the Victoria Project, an important copper-gold-silver exploration project in northern Chile.
Revelo is listed on the TSX Venture Exchange (TSX VENTURE:RVL). For more information please visit Revelo's website at www.reveloresources.com.
ON BEHALF OF THE BOARD
Timothy J. Beale, President & CEO