RAME Rame Energy

TIDMRAME

RNS Number : 7582V

Rame Energy PLC

20 April 2016

20 April 2016

Rame Energy plc

("Rame" or the "Company")

Consultancy Agreement with Goldcorp in Argentina

Rame Energy plc (AIM: RAME), the independent power producer and power project developer, is pleased to announce it has executed a consultancy agreement with Goldcorp Inc, a leading senior gold producer, to provide services over a period of seven months for the development of a possible wind farm at Goldcorp's Cerro Negro mining project.

The 25,000 hectares Cerro Negro mining property is located on the low level Patagonian plains in the southern Argentinean province of Santa Cruz, at an elevation of approximately 600m above sea level.

The mine is located less than 100km West of Rame's Cerro Coihue wind farm and could benefit from a highly energetic wind climate similar to Cerro Coihue and typical for the Patagonian region.

The agreement with Goldcorp, which may lead to further cooperation during the construction and operational phase of the possible wind farm, demonstrates Rame's continuing strong involvement with the mining industry and its ability to quickly respond to emerging Latin American opportunities outside of its core operations in Chile. It also represents the Company's first steps in the much anticipated renewable energy transformation of Argentina.

CEO Tim Adams said "We have significant experience of working with the mining industry in both Chile and Argentina to provide reliable, renewable energy for remote projects. We are delighted to be working with Goldcorp and very pleased to return to Argentina as the country looks forward to increasing economic development and to expanding its renewable energy sector."

For further information, please visit the Company's website, www.rame-energy.com or contact:

 
Rame Energy plc                                                                                +44 (0) 1752 565638 
Tim Adams, Chief Executive Officer 
 Kevin McNair, Chief Financial Officer 
 
Cantor Fitzgerald Europe (Nominated Adviser and Broker, Financial Adviser in relation to the 
 sale of the Projects)                                                                         +44 (0) 20 7894 7000 
Andrew Craig / Richard Salmond 
 
Tavistock (Financial PR)                                                                       +44 (0) 20 7920 3150 
Simon Hudson / James Collins / Claudia Esnouf 
 

About Rame Energy

Established in 2002, Rame Energy is an experienced power project developer and IPP that seeks to create value for its stakeholders by developing a portfolio of high yielding renewable energy projects. We specialise in engineering on-grid and off-grid wind, solar and hybrid power solutions. Our primary market focus is Chile, where energy demand outstrips supply, creating conditions that make the country highly favourable for renewable power projects.

About Goldcorp Inc

Goldcorp is a leading gold producer focused on responsible mining practices with safe, low-cost production throughout the Americas. A portfolio of long-lived, high-quality assets positions the Company to deliver long-term value. A Canadian company headquartered in Vancouver, British Columbia, Goldcorp employs more than 15,000 people worldwide. The Company is committed to responsible mining practices and is well positioned to deliver sustained, industry-leading growth and performance.

www.goldcorp.com

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