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MOU Manitou Capital Corp

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Share Name Share Symbol Market Type
Manitou Capital Corp TSXV:MOU TSX Venture Common Stock
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Braeval Mining Corporation Receives Drill Permits for Guaynopa

10/10/2013 12:00pm

Marketwired Canada


Braeval Mining Corporation (TSX:BVL) ("Braeval Mining" or the "Company") is
pleased to announce that it has received all necessary permits to commence
diamond drilling on its Guaynopa project located in Chihuahua State, Mexico. The
Company also provides below an update on planned work on the recently acquired
El Petate Property located in Hidalgo State, Mexico and for its Acropunco
Property located in Huancavelica, Peru. 


Drilling to Commence at Guaynopa

Braeval expects to commence the Phase One diamond drilling program in early
November on the Guaynopa Property, to test gold-copper skarn targets previously
identified on the property. The Company has obtained all the necessary drill
permits for the initial 1,200 metre program. 


El Petate

The "El Petate Project" is located in Pachuca, Mexico, 28 km north west of the
historical Pachuca Real del Monte mining district.  The Company signed a
memorandum of understanding ("MOU") with Prospero Silver Corporation on
September 10, 2013 for an initial interest of 58% and a further option
(contingent on Prospero not maintaining its 42% interest) to acquire up to 75%
of the property (see Braeval press release dated September 11th, 2013).   


Braeval intends to start the initial detailed sampling and mapping during
Q4/2013 and plans to conduct a reconnaissance reverse circulation drilling
program of 2,500 m in Q1/2014, pending results of the initial ground work and
the granting of drilling permits. 


Arcopunco Lithocaps Project

In 2011, the Company staked 25,090 ha in Peru as part of its lithocaps strategy
and subsequently optioned two additional projects, Arcopunco (595 ha) and
Terciopelo (4,200 ha).


The Company has completed its initial phase of detailed sampling and mapping on
the project areas. The work identified a principal anomalous area of over 6
square kilometres, consisting of hydrothermal alteration and associated gold
anomalies. Phase One drilling at Arcopunco is planned for Q1/2014 (weather
permitting), with an initial diamond drill program of 1,500 m. The initial
environmental impact assessment permits have been granted, and the Company
expects to receive the permit to initiate drilling in the first quarter of next
year. 


The Companys' unaudited cash balance as of September 30, 2013, was approximately
$10.4 M. 


Scientific and technical information in this press release has been reviewed by
Gernot Wober P.Geo., the Vice President, Exploration of the Company and a
qualified person under National Instrument 43-101. 


About Braeval Mining Corporation

Braeval Mining is a junior mineral exploration company focused on the
exploration and development of precious metals resource properties in Mexico and
Peru. The Company holds options to acquire an interest on the Guaynopa and El
Petate properties located in Mexico and Arcopunco in Peru. Braeval Mining is
exploring these properties for precious metal deposits including gold, silver
and copper.


CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

This news release contains forward-looking statements and forward-looking
information within the meaning of applicable Canadian securities laws, which are
based on expectations, estimates and projections as of the date of this news
release. This forward-looking information includes, or may be based upon,
without limitation, estimates, forecasts and statements as to management's
expectations with respect to, among other things, the generation of revenues by
the Company, the timing and amount of funding required to execute the Company's
exploration, development and business plans, capital and exploration
expenditures, the effect on the Company of any changes to existing legislation
or policy, government regulation of mining operations, the length of time
required to obtain permits, certifications and approvals, the success of
exploration, development and mining activities, the geology of the Company's
properties, environmental risks, the availability of labour, the focus of the
Company in the future, demand and market outlook for precious metals and the
prices thereof, progress in development of mineral properties, the Company's
ability to raise funding privately or on a public market in the future, the
Company's future growth, results of operations, performance, and business
prospects and opportunities. Wherever possible, words such as "anticipate",
"believe", "expect", "intend", "may" and similar expressions have been used to
identify such forward-looking information. 


Forward-looking information is based on the opinions and estimates of management
at the date the information is given, and on information available to management
at such time. Forward-looking information involves significant risks,
uncertainties, assumptions and other factors that could cause actual results,
performance or achievements to differ materially from the results discussed or
implied in the forward-looking information. These factors, including, but not
limited to, fluctuations in currency markets, fluctuations in commodity prices,
the ability of the Company to access sufficient capital on favourable terms or
at all, changes in national and local government legislation, taxation,
controls, regulations, political or economic developments in Canada, Mexico,
Colombia, Peru, Honduras, Nicaragua or other countries in which the Company does
business or may carry on business in the future, operational or technical
difficulties in connection with exploration or development activities, employee
relations, the speculative nature of mineral exploration and development,
obtaining necessary licenses and permits, diminishing quantities and grades of
mineral reserves, contests over title to properties, especially title to
undeveloped properties, the inherent risks involved in the exploration and
development of mineral properties, the uncertainties involved in interpreting
drill results and other geological data, environmental hazards, industrial
accidents, unusual or unexpected formations, pressures, cave-ins and flooding,
limitations of insurance coverage and the possibility of project cost overruns
or unanticipated costs and expenses, and should be considered carefully. Many of
these uncertainties and contingencies can affect the Company's actual results
and could cause actual results to differ materially from those expressed or
implied in any forward-looking statements made by, or on behalf of, the Company.
Prospective investors should not place undue reliance on any forward-looking
information. Although the forward-looking information contained in this news
release is based upon what management believes, or believed at the time, to be
reasonable assumptions, the Company cannot assure prospective purchasers that
actual results will be consistent with such forward-looking information, as
there may be other factors that cause results not to be as anticipated,
estimated or intended, and neither the Company nor any other person assumes
responsibility for the accuracy and completeness of any such forward-looking
information. The Company does not undertake, and assumes no obligation, to
update or revise any such forward-looking statements or forward-looking
information contained herein to reflect new events or circumstances, except as
may be required by law. 


No stock exchange, regulation services provider, securities commission or other
regulatory authority has approved or disapproved the information contained in
this news release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Braeval Mining
Jose Vizquerra
President & CEO
416-848-9504
jvizquerra@braevalmining.com

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