Daura Gold Closes the Acquisition of the Yanamina Epithermal Gold-Silver Project in Ancash Peru
Daura Gold Closes the Acquisition of the
Yanamina Epithermal Gold-Silver Project in
Ancash Peru
Vancouver, British Columbia--(Newsfile Corp. - July 29, 2025) -
Daura Gold Corp. (TSXV: DGC)
(the
"
Company
" or "
Daura
") is pleased to announce that, further to its news release dated June 2, 2025, it
has completed the acquisition Yanamina gold-silver project (the "
Yanamina Project
") from EVR
Resources Limited ("
EVR
").
The Yanamina Project is located in the Ancash Department of central Peru,
40km north of the Daura's Antonella and Highlander Silver's bonanza grade San Luis gold-silver project.
Highlights
The Yanamina Project has a historic mineral resource of 83,100 (oz) of gold (Au) at 1.65 g/t Au
indicated and 123,700 oz of Au at 1.19 g/t Au inferred. The Company plans to undertake work to
verify and update the historical estimate as a priority.
(See "
Yanamina Historical Mineral
Resource
" below for further details.)
Exploration upside and multiple drill targets on the property given limited and focused historical
drilling. Open extensions to resources at depth and lateral extensions and significant faulted
extension target at depth.
Previous drilling identified a high-grade core zone locally grading at 5 g/t Au over 5 meters within a
mineralized envelope averaging 2.5 g/t Au over intervals from 20-30 meters.
Daura has the opportunity to update the Yanamina historical resource estimate and bring a current
resource estimate into Daura's resource profile.
Yanamina compliments Daura's project portfolio in the Ancash Department, which is well-known for
mining in Peru with major historical production from Barrick's Pierina gold mine, approximately
40km north of the bonanza grade San Luis Gold Project owned by Highlander Silver.
A qualified person has not done sufficient work to classify the historical estimate as a current mineral
resource and the Company is not treating the historical estimate as a current mineral resource.
Luis Saenz, Daura CEO commented:
"Closing the acquisition of the Yanamina Gold-Silver Project is a
significant step for Daura Gold as we advance our strategy of building a high-quality portfolio in Peru's
most prolific mining districts. Yanamina not only adds an established historical resource to our asset
base but also offers near-term exploration potential with multiple open targets. Its proximity to major
past-producing and active mines like Pierina and Antamina underscores the strategic value of this
acquisition. With this addition, we are well-positioned to continue our growth and unlock further value
for our shareholders."
Figure 1. Below represents Daura's land package
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Exploration Upside Potential
Previous work carried out for historical resource estimates highlighted a number of areas at Yanamina
which show potential for additional mineralization, both as an extension but also proximal to the existing
resource. As a result of the extensive and important surface alteration within the mineralized zone, a
number of these target areas can be initially geologically explored, including mapping, sampling and
geophysics, among others, to determine their potential.
An additional exploration target which remains open is the potential faulted extension to the existing
historical resource. The historical resource is located on a fault scarp and there is sound geological
evidence that the top of the resource has been removed by faulting. The extent of the "missing" upper
portion of the resource is unknown, offering a straightforward exploration target with upside potential.
In 2006, ASX-listed Latin Gold completed detailed mapping of the geology and alteration, channel
sampling, limited adit sampling, digitizing of the historic and current data base and drilled 25 diamond
drill holes totaling 1,468 meters. The drilling confirmed the geology and the near surface zone of
disseminated gold and silver mineralization, which is locally exposed in outcrop. Gold was intersected in
the majority of the drill holes and demonstrated strong continuity along strike.
Drilling also identified a higher-grade core zone locally grading 5gpt Au over 5 meters within a
mineralized envelope averaging 2.5gpt Au over intervals ranging from 20 to 30 meters. The drilling also
confirmed silver values reported historically ranging up to 20.3gpt Ag explored over 10 meters.
In addition to the core project area, Daura has recently staked an additional 4,700 hectares of
contiguous land, significantly expanding the exploration footprint. This new ground covers prospective
geology similar to the known mineralization, offering potential for resource growth.
Community Engagement
Daura recognizes the opportunity to establish new, long-term mutually beneficial relationships with the
local communities and will strive to do this from the outset.
Daura's community relations efforts at
Yanamina are underway as part of the Company's due diligence process.
Yanamina Project Acquisition
The Company acquired the Yanamina Project from EVR in consideration for an initial payment of
US$150,000 in cash (the "
Initial Consideration
").
The Company may make additional payments in cash or shares to EVR as contingent consideration (the
"
Contingent Consideration
") upon completion of certain milestones in relation to the Yanamina
Project. The Contingent Consideration is only accrued and payable if and when the following milestones
are achieved:
a
.
On the 12-month anniversary from Closing, the Purchaser will pay to the Vendor US$150,000 in
cash;
b
.
On the obtaining of a social license (that will allow a minimum 10,000 meter drilling campaign) with
the communities in the area of influence of Yanamina, the Company will pay EVR US$1,700,000 in
cash and/or common shares of the Company at the option of the Company;
c
.
Within 60 days of the start of construction of Yanamina, the Company will pay EVR US$2,000,000
in cash and/or common shares of the Company at the option of the Company; and
d
.
Within 60 days of the start of Commercial Production on the Project, the Company will pay EVR
US$2,000,000 in cash and/or common shares of the Company at the option of the Company.
Any common shares issuable to the Vendor, at the election of the Company, will be issuable at a
deemed price equivalent to the volume-weighted average closing price of the common shares of the
Company on the TSX Venture Exchange in the thirty (30) trading days prior to issuance and will be
calculated using the applicable exchange rate posted by the Bank of Canada immediately prior to
issuance.
The deemed price of the common shares will be subject to such minimum pricing as is
permitted by the policies of the TSX Venture Exchange and in no case will common shares be issuable
at a deemed price of less than (Cdn)$0.05.
Any common share issuance remains subject to the
approval of the TSX Venture Exchange.
Project Agreement
The Yanamina Project is currently subject to the terms of a project agreement (the "
Project
Agreement
") involving Happy Diamonds Pty. Ltd. ("
Happy Diamonds
").
In addition to the payments
outlined above, the Company has assumed responsibility for all obligations due and owing under the
Project Agreement, including the following payments owing under the Project Agreement:
i
.
on or before the fifth (5th) business day following the commencement of construction of
infrastructure for commercial production at the Yanamina Project, pay to Happy Diamonds the sum
of US$1,500,000 in cash;
ii
.
on or before the tenth (10th) business day following the date of the initial gold pour from the
Yanamina Project, pay to Happy Diamonds the sum of US$1,000,000 in cash;
iii
.
on or before the tenth (10th) business day following the first (1st) anniversary of the date of the
initial gold pour from the Yanamina Project, pay to Happy Diamonds the sum of US$1,000,000 in
cash;
iv
.
on or before the tenth (10th) business day following the second (2nd) anniversary of the date of the
initial gold pour from the Yanamina Project, pay to Happy Diamonds the sum of US$1,000,000 in
cash; and
v
.
on or before the tenth (10th) business day following the production of 275,000 ounces of gold (or
gold products containing the equivalent of such amount of refined gold using, for other precious
metals, the gold equivalent ounces thereof) from the Yanamina Project, pay to Happy Diamonds
the sum of US$1,000,000 in cash.
Yanamina Historical Mineral Resource
The historical mineral resource is included in a Technical Report titled "Deposit Modeling, NI 43-101
Resource Estimate, Preliminary Economic Assessment: Yanamina Gold Property" (the "
Technical
Report
"), with an effective date of February 28, 2011.
The report was prepared as a National Instrument
43-101 -
Standard of Disclosure for Mineral Projects
("National Instrument 43-101") technical report for
Coronet Metals Inc. The historical estimate is considered to be relevant and for the purposes of the
Company proceeding with the Transaction as it provides an indication of the potential significance of the
Yanamina Project.
The Technical Report provides details on mineral resources and reserves, as well a potential
development option for the Yanamina Gold Project that considers underground mining and processing
using conventional cyanide leach methods. However, the prices, costs, and development strategy and
options are no longer current and need to be re-evaluated using assumptions and qualifications that are
more reflective of today's environment.
The Yanamina gold and silver deposit is a volcanic hosted, low sulphidation, epithermal quartz system.
The Yanamina historical Mineral Resource data base has a total of 2,643 samples, spanning 3,402
meters from 78 drill holes.
The indicated resource covers approximately 17 hectares and is outlined by a
search area of 25 metres; within this area, the drill holes intersected similar grade-thickness composites
at a 1g/t Au cut-off. The inferred resource is outlined by a search area of 50 metres. The holes drilled in
this area intersected mineralization defined by 0.5gpt cut-off composites. Continuous blocks within the
25m search radius have thus been defined as an Indicated Resource while the blocks outside of this
zone at a 50m search radius and those blocks above the 0.5 g/t Au cut-off in Zone 2 are categorized as
an Indicated Resource. Further drilling at 25m spacing would be required to define additional Inferred
Resources in both zones.
Historical Mineral Resource Summary
Summary of Historical Mineral Resources Yanamina Gold Deposit
(0.50 g/t Au Cut-Off Grade)
Resources
Tonnes
Grade (g/t Au)
Total Ounces
Indicated
1,566,900
1.65
83,100
Inferred
3,235,000
1.19
123,700
A qualified person has not done sufficient work to classify the historical estimate as a current mineral
resource and the Company is not treating the historical estimate as a current mineral resource.
Additional work including some re-sampling of historical core and a review of the geological model, will
be necessary to verify the historical resource estimate.
Qualified Person
All scientific and technical information contained in this news release has been reviewed, verified and
approved by Owen D. W. Miller, Ph.D. Member AIG, a qualified person as defined in National Instrument
43-101. Dr. Miller acts as an independent third-party consultant to the Company.
ABOUT DAURA GOLD CORP.
Listed on the TSX Venture Exchange, Daura Gold is advancing high-impact exploration projects in
Peru's renowned Ancash region. Daura Gold owns a 100% undivided interest in over 8,100 hectares of
exploration concessions in Ancash, including the 900-hectare Antonella target, which is the primary
focus of Daura Gold's current exploration efforts.
For further information please contact:
Daura Gold Corp.
543 Granville, Suite 501
Vancouver BC V6C 1X8
William T.P. Tsang CFO and Secretary
(604) 669-0660
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
Information set forth in this news release contains forward-looking statements. These statements reflect
management's current estimates, beliefs, intentions and expectations; they are not guarantees of future
performance. Daura cautions that all forward-looking statements are inherently uncertain and that actual
performance may be affected by a number of material factors, many of which are beyond Daura's
control. Such factors include, among other things: future prices and the supply of gold and other precious
and other metals; future demand for gold and other valuable metals; inability to raise the money
necessary to incur the expenditures required to retain and advance the property; environmental liabilities
(known and unknown); general business, economic, competitive, political and social uncertainties;
results of exploration programs; risks of the mineral exploration industry; delays in obtaining
governmental approvals; adverse weather conditions and failure to obtain necessary regulatory or
shareholder approvals. There can be no assurance that such statements will prove to be accurate, as
actual results and future events could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking statements. Daura disclaims
any intention or obligation to update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by law.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS
THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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