Karmin Announces Approval of Previously Announced Acquisition of Mining Concessions in the Huamachuco Gold District of Peru and

    




 /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR  DISSEMINATION IN THE UNITED STATES/ 

 TORONTO, Feb. 13, 2012 /CNW/ - Further to its news releases dated  November 22, 2011, December 21, 2011 and January 20, 2012  (collectively, the "Press Releases"), Karmin Exploration Inc. ("Karmin")  is pleased to announce that it has received the final  approval from the TSX Venture Exchange (the "Exchange") of the previously announced acquisition of certain mining concessions  in the Huamachuco Gold District of Peru.  The closing of the  acquisition is expected to occur on or before February 15, 2012.   Karmin intends to issue a news release when the acquisition closes.   For more information of the acquisition, please see the Press Releases,  which are available on SEDAR (www.sedar.com). 

 In accordance with the policies of the Exchange, trading in the common  shares of Karmin was halted on November 22, 2011 pending receipt and  review by the Exchange of documentation relating to the acquisition.   The halt on the trading in the common shares of Karmin has now been  lifted and trading will resume on February 13, 2012. 

 About Karmin 

 The common shares of Karmin are listed on the Exchange and trade under  the symbol "KAR". The principal business of Karmin is to acquire and  explore resource properties. 

 Assuming the closing of the acquisition, Karmin's main project will  become the Zona Cushuro project, located in the Huamachuco Gold  District in the sierras of north-western Peru.  The Cushuro Mining  Concessions cover a 25 square kilometre area, span an elevation range  of 3,900 to 4,200 meters, and can be reached in four to five hours via  well-maintained roads from the coastal city of Trujillo. 

 Karmin owns 100% of the Aripuanã Gold-Silver Project which encompasses  the gold and silver mineralization associated with the near surface  oxidized portions of the numerous massive sulphide deposits in the 820  square kilometre Aripuanã Zinc Project located in north-western Brazil. 

 Karmin owns 30% of the Aripuanã Zinc Project, one of the largest  undeveloped zinc projects in Brazil. The Aripuanã Zinc Project covers a  complete mineralized massive sulphide district, with five areas of  mineralization (Ambrex, Arex, Babacu, Massaranduba and Mocoto) over a  25 kilometre strike length.  A technical report completed by AMEC  International (Chile) S.A. (AMEC), a division of AMEC Americas Limited,  in 2007 (available on SEDAR (www.sedar.com)) in accordance with National Instrument 43 - 101 - Standards of Disclosure for Mineral Projects states that the Ambrex deposit has indicated resources of 18.3 million  tonnes grading 4.0% zinc, 1.5% lead, 0.18 grams per tonne gold and 35.6  grams per tonne silver.  The Arex deposit has indicated resources of  9.4 million tonnes grading 2.5% zinc, 1.0% lead, 0.45 grams per tonne  gold and 34.7 grams per tonne silver.  Votorantim Metais Zinco S/A owns  70% of the Aripuanã Zinc Project but assumes 100% of the project costs  until the completion of a bankable feasibility study. 

 Disclaimer Relating to Forward-Looking Information  

 This news release contains forward-looking statements, including those  relating to the Cushuro Acquisition and information that are based on  the belief of management and reflect Karmin's current expectations.  Forward-looking statements include, but are not limited to, possible  events and statements. The words "plans," "expects," "is expected,"  "scheduled," "estimates," "forecasts," "projects," "intends,"  anticipates," or "believes," or variations of such words and phrases or  statements that certain actions, events or results "may," "could,"  "would," "might," or "will be taken," "occur," and similar expressions  identify forward-looking statements. The forward-looking statements and  information in this press release include, but are not limited to,  information relating to the business plans of Karmin and the closing of  the acquisition. Such statements and information reflect the current  view of Karmin with respect to risks and uncertainties that may cause  actual results to differ materially from those contemplated in those  forward-looking statements and information. 

 Such statements are not historical facts. Readers are cautioned not to  place undue reliance on forward-looking statements, as there can be no  assurance that the plans, intentions or expectations upon which they  are based will occur. By their nature, forward-looking statements  involve numerous assumptions, known and unknown risks and  uncertainties, both general and specific, that contribute to the  possibility that the predictions, forecasts, projections in the  forward-looking statements will not occur, and that actual performance  and results in future periods may differ materially from any estimates  or projections of future performance or results expressed or implied by  such forward-looking statements. 

 The Cushuro Mining Concessions and the land they relate to are  exploration properties only.  Accordingly, there are a number of  important factors that could cause Karmin's actual results to differ  materially from those indicated or implied by forward-looking  statements and information. Such factors relating to the Cushuro Mining  Concessions include, among others, the timing and content of work  programs, results of the development of mineral properties, including  the Cushuro Mining Concessions, the interpretation of drilling results  and other geological data, the uncertainties of resource and reserve  estimates, receipt and security of mineral property titles, receipt of  licenses to conduct mining activities, project cost overruns or  unanticipated costs and expenses, fluctuations in metal prices and  general market and industry conditions, changes in national and local  government legislation, taxation, controls, policies and regulations,  the security of personnel and assets, and political or economic  developments in Canada and Peru, operating or technical difficulties in  connection with mining or development activities, employee relations,  the speculative nature of mineral exploration and development and the  risks and hazards associated with the business of mineral exploration,  development and mining, including environmental hazards, industrial  accidents, unusual or unexpected formations, pressures, cave-ins and  flooding. 

 Karmin cautions that the foregoing list of material factors is not  exhaustive. When relying on Karmin's forward-looking statements and  information to make decisions, investors and others should carefully  consider the foregoing factors and other uncertainties and potential  events. Karmin has assumed a certain progression of events which may  not be realized. It has also assumed that the material factors referred  to in the previous paragraph will not cause such forward-looking  statements and information to differ materially from actual results or  events. However, the list of these factors is not exhaustive and is  subject to change and there can be no assurance that such assumptions  will reflect the actual outcome of such items or factors. 

 The forward-looking statements contained in this news release are made  as of the date of this news release. Readers should not place undue  importance on forward-looking information and should not rely upon this  information as of any other date. Except as required by law, Karmin  disclaims any intention and assumes no obligation to update or revise  any forward-looking statements, whether as a result of new information,  future events or otherwise. Additionally, Karmin undertakes no  obligation to comment on the expectations of, or statements made by,  third parties in respect of the matters discussed above. 

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

Karmin Exploration Inc.


CONTACT:  David BraceChief Executive OfficerEmail: [e-mail]: [phone]orJohn IannozziChief Financial OfficerEmail: [e-mail]: [phone] 


    

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