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Miramont Resources Acquires New Cerro Hermoso Concessions

12.07.2018  |  Newsfile
Vancouver, July 12, 2018 - Miramont Resources Corp. (CSE: MONT) (OTCQB: MRRMF) (FSE: 6MR) ("Miramont" or the "Company") is pleased to announce that it has entered into an option agreement to acquire the rights to the Milenos 32 concession adjacent to its Cerro Hermoso project in Peru. This concession gives Miramont full control of the Pocomoro zone where highly anomalous copper and silver has been identified in surface rock samples. The combined area of the project is now 1318 hectares and includes the entire diatreme system that controls mineralization in the district.

The Pocomoro area encompasses the southwestern limit of the diatreme. It is along the same ring-fracture system as the Santa Barbara vein and is considered its southern extension. Over 750,000 tons at an average grade of 15 oz/t, Ag, 1% Cu, 2% Zn, 2% Pb and 1.0 g/t Au were historically mined from complex veins and breccia bodies in the combined Santa Barbara and Pocomoro mines1.

Selective geochemical sampling of small veins and veinlets in the Pocomoro area has yielded values as high as 7.8%, 3.3% and 3.2% Cu as well as 1294 ppm (37.7 oz/st), 1022 ppm (29.8 oz/st) and 767 ppm (22.4 oz/st) Ag. Twenty two of the 57 samples collected in this area yielded results greater than 1% Cu. The Pocomoro zone is also underlain by an emerging ground magnetic anomaly that may indicate the presence of a buried intrusion. Additional work to prepare drill targets may consist of follow up geophysics. The accompanying map shows the location of copper samples while the chart provides the assay data.

Bill Pincus, Miramont's President and CEO said, "The acquisition of Milenios 32 is significant as it gives us full control of the diatreme system as we now know it. The presence of copper and silver in the area is very encouraging and we look forward to detailed exploration in this area. Surface copper, gold and silver mineralization is now found in an area covering almost five square kilometers at Cerro Hermoso and it continues to shine as an exceptional prospect."

Under the terms of the agreement, Miramont has been granted a four-year option to acquire the concession from its private owner. Miramont must make payments as follows to maintain the option: US$20K on signing (paid), US$25K on the first anniversary, US$30K on the second anniversary and US$35K on the third anniversary. Miramont may exercise its option on the fourth anniversary by paying the greater of US$1 for each ounce of gold contained in a NI 43-10 compliant resource (on the concession) or $200K. There are no work commitments or royalties on the property.


1 The estimate of mined material is from historical reports and has not been independently verified.

Other News

As previously advised (NR June 12, 2018), Miramont submitted a request to the Peruvian Ministry of Energy and Mines to reassess its earlier decision delaying final drill authorization at Cerro Hermoso. The Company's request is supported by additional documentation that shows the land underlying the project's area of influence is privately held negating the need for further consultation. Miramont has agreements with all private owners. The request was submitted on June 21, 2018 and the Company expects a decision shortly. Miramont will continue to supply information on a timely basis.

National Instrument 43-101 Disclosure

The technical content of this news release has been reviewed and approved by Mr. William Pincus, CPG, President and CEO of Miramont and a Qualified Person as defined by National Instrument 43-101.

About Miramont Resources Corp.

Miramont is a Canadian based exploration company with a focus on acquiring and developing mineral prospects within world-class belts of South America. Miramont's two key projects are Cerro Hermoso and Lukkacha, both located in southern Peru. Cerro Hermoso is a diatreme-hosted copper dominant polymetallic prospect. Lukkacha is a classic copper-porphyry prospect.

On behalf of the Board of Directors,

"William Pincus"

William Pincus, President and CEO

For more information, please contact the Company at:
Telephone: (604) 398-4493

Reader Advisory

This release includes certain statements and information that may constitute forward-looking information and forward-looking statements within the meaning of applicable securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, assumptions or expectations of future performance, are forward-looking statements and contain forward-looking information. Generally, forward- looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this news release. These forward- looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward- looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Geochemistry map - Cu_ppm

To view an enhanced version of this graphic, please visit:

Pocomoro Sector Rock Geochemistry
ID Type sample Width (m) Cu_ppm Ag_ppm Au_ppm
262 Channel 1.30 737 7.8 0.00
263 Channel 1.10 6,253 86.3 0.02
265 Channel 1.20 470 10.4 0.01
266 Channel 1.20 25 0.4 0.00
342 Channel - Select 0.5 12,300 23.9 0.01
343 Channel - Select 0.6 7,218 11.3 0.01
344 Channel - Select 2 1,110 4.6 0.00
345 Channel - Select 2 1,834 8.4 0.00
346 Channel - Select 0.3 62 0.1 0.00
347 Select 22 0.1 0.00
348 Select 756 87.7 0.00
349 Channel - Select 15,960 1294 0.20
350 Channel - Select 0.1 787 94.2 0.01
351 Select 89 8.5 0.00
352 Channel - Select 11,820 767 0.05
353 Select 32,870 216 12.19
354 Channel - Select 1 2,978 360 0.95
355 Select 8,722 376 0.01
356 Select 69 2.3 0.01
497 Channel 1.5 78,480 122 0.02
498 Chip - Select 2x2 16,530 9.9 0.04
499 Chip - Select 2x2 18,210 15.8 0.03
500 Channel - Select 9,054 9.1 0.03
501 Select 3,192 1.9 0.01
503 Chip - Select 2x2 16,870 11.6 0.01
504 Select 3,641 3.6 0.01
505 Channel - Select 32,390 26.1 0.04
506 Channel 1.3 4,395 2.2 0.01
507 Channel 1.6 30,460 11.1 0.01
508 Channel 1.2 16,500 3.8 0.01
509 Channel 1 27,210 10.3 0.01
510 Channel 1.2 18,350 20.9 0.02
511 Channel 1.2 15,380 5.7 0.01
513 Channel 1 10,640 6.4 0.01
514 Channel 1 186 0.3 0.01
515 Chip 3x3 216 0.1 0.00
516 Channel 1.1 27,220 10.9 0.02
517 Channel - Select 1.4 19,710 18.9 0.02
518 Channel - Select 0.8 26,300 39.8 0.01
519 Channel - Select 25,650 35.7 0.03
520 Select 0.4 14,800 12.3 0.02
521 Chip 1x1 6,400 6.3 0.01
522 Channel 2 732 0.5 0.00
524 Chip 2x2 737 0.8 0.00
525 Chip 2x3 317 0.5 0.00
526 Chip 2x3 333 0.5 0.00
527 Chip 3x3 749 0.8 0.00
528 Chip 1x1 59 0.1 0.00
529 Select 21 0.1 0.00
530 Chip - Select 1x1 22,680 16.2 0.01
531 Chip - Select 1x1 52 0.1 0.00
532 Chip 2x2 53 0.1 0.00
533 Chip 3x3 121 0.5 0.00
534 Chip 2x3 284 0.7 0.01
559 Channel - Select 1.5 810 20.9 0.01
560 Select 28,210 1022 0.02
N.B. Many samples are selective and include detailed sampling of vein and veinlet material within surrounding low-grade country rock. Values are indicative of extent and nature of the mineralization but should not be considered as indicative of grades that may be encountered over reasonable mining widths.

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