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January 24, 2013

MINING LEADERS - Mining Leaders: Colombia 2013 is launched amid optimism over industry growth.

January 10, 2013

PRESS RELEASE - Christmas celebration at the projects

October 5, 2012

PRESS RELEASE - Ashmont´s second Birthday

October 2, 2012

PRESS RELEASE - End of campaign at the Santa Cruz property

April 25, 2012

PRESS RELEASE - Santa Cruz Drilling campaign kicks off

April 15, 2012

PRESS RELEASE - End of campaign at the El Alacran property

September 21, 2011

PRESS RELEASE - Phase 1 Diamond Drilling Begins at Alacran

June 22, 2011

Colombia garners 3rd investment-grade rating

June 10, 2011

El Alacran project begun

May 16, 2011

Ashmont completes 3D modeling of historical data and design of First Phase drill program for Alacrán.

April 8, 2011
Ashmont Successfully Completes Due Diligence for Santa Cruz

March 22, 2011
Ashmont complete successfully Due diligence for El Alacran

March 16, 2011

Colombia Raised to Investment Grade by S&P on Growth Outlook

March 16, 2011

Mario Escobar, CEO & President of Ashmont meets with Mr. Matin Zuleta, Major of Barranco de Loba, Santa Cruz Mine

January 24, 2013

MINING LEADERS - Mining Leaders: Colombia 2013 is launched amid optimism over industry growth.

Publishing is pleased to announce the official launch of Mining Leaders: Colombia 2013, the latest volume in its series of annual country reports on the global mining industry. The reports offer mining executives, market analysts, and investors a unique perspective on the mining sectors of various emerging markets. In an industry fraught with challenges, Mining Leaders: Colombia 2013 directly collects analyses and opinions from key players and decision-makers on the field.

Mining Leaders: Colombia 2013 was launched with a breakfast reception at Bogotá's BOG Hotel on January 22. A full complement of speakers from government, mining, finance, and law offered their analyses of the sector's outlook for 2013. Attendees heard talks from María Constanza García, Director General of the ANM, Colombia's minerals agency; Javier García, Director of Mining Business at the Ministry of Mines and Energy; Mario Escobar, President of gold explorer Ashmont Resources; John Carlesso, President of Cervello Capital; and María Catalina Pérez, Partner at Sanclemente Fernández Abogados.

Each speaker focused on a particular aspect of the contribution mining makes to Colombia's economy overall, as well as its potential and the challenges of the years to come. Javier García began the event with a detailed projection of Colombia's mining industry in 2013, as well as some highlights of its recent contributions: collection of royalties from coal, for example, increased 6.2% in 2012, despite a drop in market prices of roughly 25%. Pérez outlined the dangers of the juridical uncertainty faced by Colombia-based mining firms. Cervello's Carlesso provided a bullish perspective on Colombia as a destination for foreign direct investment. The ANM's García spoke on the progress her agency has made in breaking through bureaucratic bottlenecks, citing a projection that put the number of Colombia's operational mines at 200 within the next 15 years. The event concluded with a lively speech from Ashmont's Escobar, who defended his industry from the popular misconceptions that have led many critics to undervalue the contribution miners make to sustainable development and economic growth.

Mining Leaders is an international publication with 16,000 readers in 80 countries. Its portfolio covers the mining sectors in various emerging markets, including Colombia, Brazil, Peru, Mexico, Mongolia, and West Africa. Visit to see previews of all Freestone publications and to purchase or subscribe to the latest editions and follow current news within the industry.

January 10, 2013

PRESS RELEASE - Christmas celebration at the projects

During the Christmas holidays, the company organized a Christmas party to share with the field work operators and with the community in each project. During the event, the children and the company workers received a present from the company. The celebration started with a meal for the team workers in each project. Afterwards, the company organized an event where each member of the field team received a gift from the company. Additionally, a raffle of gifts was made, and finally three award where handle: for the best employee of the year, for the best companion of the year and for the employee example of overcoming

October 05, 2012

PRESS RELEASE -Ashmont´s second Birthday

On October 2, 2012, Ashmont Resources Corp. celebrated its second birthday with a commemorative dinner in the restaurant Andres D.C. in the city of Bogota. To the event assisted all the employees of the company and members of services suppliers companies.

October 02, 2012

PRESS RELEASE -End of campaign at the Santa Cruz property

Ashmont Resources Corp. happily announces the satisfactory end of the first Diamond Drilling campaign at the Santa Cruz mine property. The campaign completed 3,757 meters drilled in 19 drill holes with an average depth of 178.94 meters. To date, high grades of Au have been found, confirming that the project involves a supported target with an unbounded ore body to the northeast and depth. Moreover, the Santa Cruz Target reflects a continuous body.

April 25, 2012

PRESS RELEASE -Santa Cruz Drilling campaign kicks off

In mid-March, 2012, the company started its first drilling campaign at the Santa Cruz Polymetallic target property. The campaign looks forward to cover drillings in two targets identified with historical data provided to the company and with initial exploration programs that includes: mapping campaign, sampling campaign and an induced polarization (IP) shot in earlier 2012.

April 15, 2012

PRESS RELEASE -End of campaign at the El Alacran property

Ashmont Resources Corp. happily announces the satisfactory end of the first Diamond Drilling campaign at El Alacran mine property. The campaign completed 11,230.55 meters drilled in 45 drill holes. The company looks forward to complete a technical report NI-43101 in the following months.

Septiember 21, 2011

PRESS RELEASE - Phase 1 Diamond Drilling Begins at Alacran

Ashmont Resources Corp is happy to announce that on Friday September 9th2011 it commenced its 8.000-meter Phase 1 Drilling Program onits Alacran Flagship Project and has now completed drilling Hole ASA-001.


See attached map Drill Hole Plan

The program has two main goals, first,the validation of the old data used for the modeling of the project, till now, and second, defining the continuity on strike and along depth of the mineralization previously intersected by the program carried out in the 1980’s by Dual Resources discovered by Ashmont exploration campaign.
The company recently finished a detailed surface and underground mapping and assaying program complemented with a high-resolutionmagnetometric survey on property that confirms the extents of the target on strike and depth and show its potential in strike (from 600 meters to 1,2 Kmts), at depth (magnetometry is showing possibilities of mineralization at more than 600 meters) and new anomalies within the property.

See attached map Comprehensive Geology

This target is comprised ofa andesitic volcanoclasticsequence intruded bydioritic stocks and necks of andesitic porphyries. The mineralizationis controlled by the stratification creating a manto type geometry. The mineralization is mainly Copper sulfides, native gold and Magnetite hosted in highly silicified volcanoclastic rocks. Drill holes are planned at 80º Azimuth and 45° dip, to intersect the main ore structurethat has a 10° azimuth direction.

The first hole ASA-001 has been completed on schedule and was drilled to a depth of 255 meters with 45º angle, cutting the mineralized structures and zones, previously inferred with the old data. More information on the results of this drill hole will be released once mapping and assaying is completed. This hole is collared 58 meters west of where drill hole SJ-1A was collars in the 1980’s campaign.

We have now started drilling hole ASA-002, collared 75 meters west of drill hole SJ-6,the hole is targeted to reach a depth of 350 meters.

Luis Oviedo, VP of Exploration commented "The undergoing program has seen visible mineralizationof Calcopyrite, Chalcocite Magnetite and Mushketovite in important intersections in what has been drilled of holes 1 and 2. This validates the historic data produced in the 1980´s drill program undertaken by Dual Resources Inc. Additionaly these holes have corroborated the continuity of the structure 100 meteres below the historic intersections of holes SJ-1A and SJ-6."

We are expecting a second drill rig to arrive in early october to continue to expand the knowledge of the deposit.


Download PDF Press Release

June 22, 2011

REUTERS - Colombia garners 3rd investment-grade rating

• Colombia receives 3rd upgrade in three months

• Agency sees 2011/12 inflation slightly above 3 pct

• Global, local bond prices rise as yields fall

• Colombia CDS narrow, now much less than Italy

Fitch Ratings raised Colombia to investment grade on Wednesday, becoming the third Wall Street agency to elevate the country this year to the coveted status, opening the door to a broader range of investors.

Colombia now joins at least five other countries in Latin America to earn investment-grade status from three rating agencies.

Investment-grade status implies the view of default risk as minimal. This lowers borrowing costs.

When granted by at least two rating agencies, investment-grade status unlocks potential investment by foreign funds barred from buying bonds with "junk" or speculative-grade status, such as Colombia's was before this year.

News of the widely anticipated Fitch upgrade prompted a modest rise in the Colombian peso and bonds and cut the cost of insuring against the country's default, at premiums well below those of some higher-rated peers like Italy.

Once seen as a state on the brink of failure, battered by relentless guerrilla attacks and cocaine violence, Colombia has improved security with counter-insurgency and anti-narcotics campaigns backed by $6 billion in U.S. aid since 2000.

"What we've seen in the last two years is the recognition by international markets of greater political stability in Colombia, and the new policies by the central bank and the government to control inflation and budget deficits," said fixed-income analyst Daniel Lozano of Serfinco, a Bogota brokerage.

Fitch cited Colombia's "impeccable" debt-repayment record when upgrading it to BBB-, the lowest rung on the investment- grade ladder, as well as the passage this month of fiscal reforms aimed to chop deficits and build a rainy-day fund.

"The administration of President Juan Manuel Santos has moved forward an extensive reform agenda to bolster the credibility and predictability of public finances and enhance the country's growth trajectory," Fitch said.

Within the past three months, Standard & Poor's and Moody's also lifted Colombia to investment grade after the country's bonds wallowed in junk status for over a decade.

Reuters, June 22, 2011 - By Jack Kimball and Walker Simon

June 10, 2011

El Alacran project begun

Ashmont announces that it has officially kicked off exploration activities at it's flagship Alacran copper - gold project with detailed surface and underground topography this to give way to a property wide ground magnetometry, surface and underground sampling and mapping.

New information provided by Hector Vargas about the first campaign carried out in the mid 1980 's included the original magnetomery that corroborates our current knowledge of the mineralization and extends the targets strike length in approximately 1km to the south inside of our property block. The company's undergoing geophysics campaign looks to build on current data

A group of experts was brought in for the design and implementation of all quality assurance and control protocols that are to meet and surpass industry standards. They will be training local workforce in the different activities that are necesarry to insure that the quality of data meets Mr Oviedo's requirements.

The community has received the company with open arms and the population is filled with hope and energies wanting to take part in project of grand scale, our human resources office has been overwhelmed by applications from local workers to become part of the Ashmont team.

Local offices in both Puerto Libertador and Mine Site have been setup and infrastructure work began May 7th.

May 16, 2011

Ashmont completes 3D modeling of historical data and design of First Phase drill program for Alacrán.

Ashmont announces the completion of the 3D modeling of all historical (Non-43-101) information. With this information the company has planned an aggressive first phase drilling program of 6.000 meters HQ diamond core drilling to verify, expand and upgrade the potential resources of the ore body.

Mr Oviedo, VP of Exploration has designed and started a program for the complete geological mapping of all open tunnels and shafts as well as all exposed geological information. This paired with a ground magnetometry will allow the team to tweak and plan further step-out drilling as necessary.

Currently the company is finalizing the selection of the drilling contractor that will carry out said program. Drilling is targeted to start mid Q3-2011.

More information has been included in the updated corporate presentation available on the company's website.

April 8, 2011

Ashmont Successfully Completes Due Dilligence for Santa Cruz

Ashmont successfully concludes Santa Cruz due dilligence. A site visit is planned for next Wednesday with the drilling company and other field advisors, at both El Alacran and Santa Cruz properties to kick off drilling design programs.

March 22, 2011

Ashmont Successfully Completes Due Diligence for El Alacran

Ashmont geological and legal team have successfully finished legal and geological due diligence, finding geological findings above expectations, and full-force legal standing. Exploration programs and tailings management plans will begin execution in the first days of April.

March 16, 2011

Colombia Raised to Investment Grade by S&P on Growth Outlook

March 16 (Bloomberg) -- Colombia’s credit rating was boosted to investment grade by Standard & Poor’s, 11 years after it was cut to junk in the midst of an insurgency, as violence recedes and growth prospects improve.

S&P raised Colombia one step to BBB-, from BB+. The increase puts Colombia’s rating in line with that of Brazil and Peru. Moody’s Investors Service and Fitch Ratings rate Colombia one level below investment grade.
Colombia has cut its homicide rate by almost half since 2002, when former President Alvaro Uribe took office and boosted investor confidence by cutting debt levels, maintaining stable inflation and increasing economic growth. The government forecasts the economy grew 4 percent last year and estimates gross domestic product will rise 4.5 percent this year.

“This is a certificate of good behavior,” President Juan Manuel Santos said in a statement on the presidential website. The rating increase “allows many companies, funds and institutions with considerable resources to invest in Colombia,” he said.

Yields on Colombia’s 7.375 percent dollar bonds due in 2019 fell 14 basis points, or 0.14 percentage point, to 4.20 percent, the lowest since Jan. 13, according to data compiled by Bloomberg.

“A lot of people expected it for a very long time,” said Alberto Bernal, head of fixed-income research at Bulltick, a Miami-based brokerage that focuses on Latin America. “I expect Moody’s to move very fast after this. They’ve been very vocal on the possibility of an upgrade coming for Colombia.”

Budget Deficit
The government forecasts the budget deficit will equal 4.1 percent of GDP this year, up from 3.9 percent in 2010.
“Deepening domestic capital markets and improving external liquidity should continue to reduce the level of vulnerability embedded in the sovereign’s debt burden,” S&P said in a statement.

Colombia lost its investment grade rating with Moody’s and S&P in 1999, when violence and a banking crisis helped trigger six straight quarters of contraction beginning in 1998.

Santos, who took office in August, and Uribe, his predecessor, have drawn investment by improving security and weakening rebel groups, including the Revolutionary Armed Forces of Colombia, or FARC. Foreign direct investment more than quadrupled in the past decade, to $7.2 billion in 2009 from $1.5 billion in 1999.

“If Santos’s policies continue to be market friendly, and if they are able to hold onto gains that have been achieved in security, there will be further upgrades,” Bernal said.

Colombia’s rating outlook is stable, S&P said.

--With assistance from Andrea Jaramillo in Bogota and Camila Russo in New York. Editors: Brendan Walsh, Lester Pimentel

To contact the reporter on this story: Boris Korby in New York at
To contact the editor responsible for this story: David Papadopoulos at

March 15, 2011

Mario Escobar, CEO & President of Ashmont meets with Mr. Matin Zuleta, Major of Barranco de Loba, Santa Cruz Mine

Mario Escobar, CEO & President of Ashmont met with Mr. Matin Zuleta, Major of Barranco de Loba, Santa Cruz Mine. This municipality in Cartagena has received his full support for project development in regards of infrastructure, health and security matters. Both parties set up an action plan to be deployed second week of April.

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