CHIMATA GOLD CORP AND LOCAL JV PARTNER WIN ARBITRATION WITH COSTS
Vancouver, BC August 20, 2018 – Chimata Gold Corp. (CSE: CAT) (“Chimata”, “CAT” or the
“Company”) is pleased to announce the completion of the arbitration proceedings that was
undergoing in Zimbabwe relating to the title Rights of the Kamativi Tailings Project (the “Project”)
and that such arbitration has been concluded in CAT’s favour with an award for costs.
Arbitration Overview and Award
The arbitration was initiated through an unsubstantiated claim by the Chinese firm Beijing Pingchang
Investments Company (Ltd) (the “Claimant”) insinuating, through a Historical Joint Venture
Agreement (“HJV”) with Kamativi Tin Mines (Pvt) Ltd (“KTM”), that the Claimant believed it had
rights to the Tailings Material located at the Kamativi Tin Mine.
The Arbitrator, the Honourable Justice Mtshiya (Retired),sets out in the ruling that “no agreement
ever came into existence…. the Claimant’s claim fails”. It goes on to set out that the First Respondent
(the owner of KTM) “is free to deal with the tailings dump in any manner acceptable under the mining
laws in this country.” It then goes on to set out that the Agreement between the First Respondent
(KTM) and the Second Respondent (Jimbata (Pvt) Ltd (“Jimbata”), which is CAT’s local partner,
“cannot be interfered with”. The Arbitrator further informs the parties to the arbitration that “the
Claimant’s Claim lacks merit”. On this basis, the Claimant’s claim was dismissed with costs.
Mr John McTaggart, the Managing Director for Jimbata, had the following to say “I am relieved that
this matter is now behind us and that the Arbitrator was clear and concise in the Ruling. It
demonstrates our faith in the protection of rights under the new dispensation. We look forward to
making a success of this project and rapidly developing what we believe to be a world class lithium
CAT would like to thank all investors for their patience with this matter while the outstanding issues
followed their due legal process which have now been resolved. CAT looks forward to releasing the
results of the completed drill campaign in the coming days and the continued development of this
Alain Moreau, a “qualified person” as defined by NI 43-101 – Standards of Disclosure for Mineral
Projects has approved the scientific and technical disclosure in this press release.
ON BEHALF OF THE BOARD
Chairman and Interim President and CEO
Further information regarding the Company can be found on SEDAR at www.SEDAR.com, or by
contacting the Company directly at +1 (604) 674-3145.
This news release may contain forward–looking statements. Forward-looking statements address
future events and conditions and therefore involve inherent risks and uncertainties. Actual results
may differ materially from those currently anticipated in such statements. Particular risks applicable
to this press release include risks associated with planned production, including the ability of the
company to achieve its targeted production outline due to regulatory, technical or economic
factors. In addition, there are risks associated with estimates of resources, and there is no guarantee
that a resource will have demonstrated economic viability as necessary to be classified as a
reserve. There is no guarantee that additional exploration work will result in significant increases to
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