| December 17, 2009 Joint Venture Finalized on Rio Grande Property | |
| Vancouver, British Columbia -- Pachamama Resources Ltd. (TSX.V -- PMA) Pachamama Resources Ltd. ("Pachamama" or the "Company") is pleased to announce that a joint venture agreement has been signed with its partner, Antares Minerals Inc. ("Antares"), on the 50/50 owned Rio Grande property located in northwestern Argentina. The joint venture agreement between the Company, Antares, and their respective Argentinean subsidiaries is in the form of a UTE (Union Transitoria de Empresas) that will be registered under the laws of Argentina. The UTE agreement defines the terms which will govern the development of the Rio Grande Cu-Au deposit going forward. Under the agreement, Antares will remain the project operator. To date, the parties have drilled +33,000 metres in 78 diamond drill holes at Rio Grande. Pachamama's management looks forward to announcing exploration plans with Antares on this very prospective project in the New Year. About Pachamama Pachamama is a mining exploration company formed as a spin-out of Mansfield Minerals Inc. in November 2008. The mineral assets of Mansfield, with the exception of the Lindero gold deposit, were transferred to Pachamama together with certain cash and investments. The Company is currently focused on the Rio Grande copper-gold project in northwestern Argentina. On behalf of the Board of Directors, "John M. Leask" John M. Leask, P.Eng. President, Director and CEO For more information please contact Nancy Goertzen at (604) 681-4462 or see the Company's website at www.pachamamaresources.com. The TSX Venture does not accept responsibility for the adequacy or accuracy of this release. Caution Regarding Forward-Looking Statements Caution Regarding Forward-Looking Statements - This news release contains certain forward-looking statements, including statements regarding the business and anticipated financial performance of the Company. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward looking statements, oral or written, made by itself or on its behalf. | |
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