Jan 25, 2008 15:14 ET
Ascendant Copper Responds to Announcement by Ecuadorian Minister of Mines and Petroleum
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 25, 2008) - Ascendant Copper Corporation ("Ascendant") (TSX:ACX)(BERLIN:A0HMLE)(FRANKFURT:A5C)(WKN:A0HMLE) ("the Company") has learned through media reports that the Ecuadorian government has voided two concessions, Golden 1 and Golden 2, forming part of the Company's Junin project in northwestern Ecuador. Ascendant has received no notification of annulment from the Government of Ecuador or the Ministry of Mines and Petroleum, nor is it aware that any such notification exists.
According to Ascendant Copper's records, all concession payments regarding each of its projects have been made, on time, as stated by Ecuadorian law. The Company has complied with all government requests, abided by all Ecuadorian mining regulations and remains in compliance with all laws.
The Company continues to work closely with the Ecuadorian government on both the Junin and Chaucha projects. The 7,400-hectare Chaucha project is currently moving toward pre-feasibility study.
Ascendant Copper has been in contact with the Ecuadorian government for more information and clarification and will continue to do so. The Company will provide an update as soon as additional information becomes available.
AI
