Ottawa, Ontario – January 8, 2021 (Newsfile Corp.) (Investorideas.com Newswire) Gold79 Mines Ltd. (TSXV: AUU) (“Gold79” or the “Enterprise”) announces that Minaurum Gold Inc. and its wholly owned subsidiary, Minera Minaurum Gold SA de CV (“MGG”) have entered into an selection agreement with Fortuna Silver Mines Inc. and Fortuna’s wholly owned subsidiary, Compania Minera Cuzcatlan SA de CV (“CMC”), pursuant to which CMC can gain up to an 80 p.c fascination in the Taviche silver job located in Oaxaca, Mexico.
Details with regard to this possibility arrangement have been announced by MGG on January 7, 2021. CMC will act as operator of the task and can make an initial 60% curiosity in the project by producing hard cash payments to MGG of US$450,000 and incurring US$4 million in do the job expenses over a a few calendar year period.
Gold79 retains a 20% no cost-carried desire in the Taviche task under the conditions of the Firm’s agreements with MGG. MGG holds an exceptional choice to receive this 20% desire for a order price of CDN$1,000,000. Moreover, Gold79 is entitled to get 100,000 widespread shares of MGG on receipt of all suitable approvals and consents required for the commencement of exploration drilling at the Taviche job.
Gary Thompson, President, CEO and Chairman of Gold79, stated,”We are happy that the Taviche silver task has been positioned in sturdy arms with Fortuna as operator. Important exploration courses are contemplated and, if prosperous, we could see our 20% desire purchased with funding from Fortuna. Gold79 continues to concentration on its gold initiatives in the Southwestern United states.”
About Gold79 Mines Ltd.
Gold79 Mines Ltd. (previously Aura Resources Inc.) is a TSX Venture outlined enterprise engaged in the acquisition, exploration and progress of valuable metallic prospects in the Southwest United states of america. Gold79 holds 100% generate-in solution and / or order agreements on three gold assignments: the Jefferson Canyon Gold Project and the Suggestion Leading Gold Job each found in Nevada, United states and, the Gold Chain Project positioned in northern Arizona, United states of america. Gold79 also retains two initiatives with minority interest becoming a 37.1% interest in the Greyhound Job, Nunavut, Canada less than JV and operated by Agnico Eagle Mines Confined and a 20% carried interest in the Taviche Project in Oaxaca, Mexico held by Minaurum Gold Inc. and less than alternative to Fortuna Silver Mines Inc.
For more facts regarding this press release contact: Gary Thompson, Main Executive Officer and Government Chairman by e-mail at [email protected] Gold79’s internet site is found at www.gold79mines.com.
This push launch may possibly incorporate ahead on the lookout statements that are designed as of the day hereof and are primarily based on present-day anticipations, forecasts and assumptions which entail pitfalls and uncertainties affiliated with our organization which includes any non-public placement financings, the uncertainty as to irrespective of whether additional exploration will final result in the goal(s) currently being delineated as a mineral resource, cash expenses, working costs, mineral means, restoration prices, grades and rates, estimated targets, expansion and expansion of the enterprise and operations, plans and references to the Firm’s long run successes with its business enterprise and the financial natural environment in which the small business operates. All these kinds of statements are designed pursuant to the ‘safe harbour’ provisions of, and are supposed to be ahead-wanting statements below, applicable Canadian securities laws. Any statements contained herein that are statements of historical information may perhaps be deemed to be ahead-searching statements. By their character, ahead-hunting statements need us to make assumptions and are subject to inherent challenges and uncertainties. We caution readers of this information release not to spot undue reliance on our ahead-on the lookout statements as a variety of components could induce genuine effects or circumstances to vary materially from recent expectations. Be sure to refer to the risks established forth in the Firm’s most the latest annual MD&A and the Firm’s ongoing disclosure paperwork that can be located on SEDAR at www.sedar.com. Gold79 does not intend, and disclaims any obligation, besides as required by regulation, to update or revise any forward-seeking statements whether as a consequence of new data, upcoming situations or normally.
Neither the TSX Enterprise Trade nor its Regulation Expert services Service provider (as that expression is described in the procedures of the TSX Venture Trade) accepts obligation for the adequacy or precision of this release.
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