VANCOUVER, May 2, 2012 /CNW/ - Darwin Resources Corp ("Darwin" or "The Company") TSXV - DAR. Dr. Graham Carman, President & CEO, is pleased to announce that the
Company has completed its spin-out from Mawson Resources Ltd (TSX:MAW)
pursuant to a Plan of Arrangement and is now listed on the TSX Venture
exchange under the trading symbol TSXV:DAR.
Darwin has a strong technical team holding many years of Peru
exploration experience with a track record of discovery. The corporate
team has a long term successful history in the Canadian capital
The Company is well-funded with C$4M in cash reserves and has sufficient
working capital to carry out its planned exploration programs in 2012,
and to initiate drilling at its key projects;
Darwin is well supported by several institutions including The Sentient
Group ("Sentient"), an independent private equity fund with over US$2.5
billion under management in the global natural resources space and a
long term and successful history of investing in Latin America.
Sentient is the Company's largest shareholder and will hold 24.1% of
Darwin on an undiluted basis. Pinetree Capital will hold an 11.7%
stake on an undiluted basis;
Darwin aims to drill the Alto Quemado copper and gold project within the
next quarter (subject to the final permission process which is well
To date Darwin holds five other gold and copper prospects with known
mineralization which the Company is currently evaluating;
Darwin owns more than 30 titles granted or under application, and an
aggressive project acquisition strategy is active;
The Company has a strong exploration database in Peru, enabling a rapid
evaluation of new opportunities.
Dr Graham Carman, states: "It is a great pleasure to be returning to
Peru and heading up Darwin, a Peruvian gold and copper explorer. Peru
is world famous for its large and diversified mineral systems and
already dominates the global mining industry in many commodities. It
is particularly pleasing to reassemble a geological team in Peru whom I
have shared considerable exploration successes over the last 20 years.
The strength and experience of our team augurs well for the future of
Darwin. The Company also has a high quality board representing our
major shareholder interests, and Darwin is fortunate to have a strong
treasury and support from several institutional shareholders including
The Sentient Group with 24% ownership of the Company.