1) Source: El Quevar Mineral Resource Estimate. Golden Minerals Company, filed on SEDAR+
(1) Source: El Quevar Mineral Resource Estimate. Golden Minerals Company, filed on SEDAR+, February 26, 2018. Butte Energy intends on filing a current NI 43-
101 technical report compliant resource estimate prior to or in conjunction with the closing of the Transaction.
BUTTE ENERGY INC.
SUITE 3123 – 595 BURRARD STREET
VANCOUVER, BC V7X 1J1
TEL: 604-609-6110
BUTTE EXECUTES DEFINITIVE AGREEMENT TO ACQUIRE EL QUEVAR SILVER
PROJECT
September 27, 2024 TSXV – BEN.H
Vancouver, British Columbia – Butte Energy Inc. (TSXV – BEN.H) (the “Company”) is pleased to
announce, further to the Company’s news release dated September 3, 2024, that it has entered into a
definitive agreement dated September 27, 2024 (the “Agreement”), to acquire a 100% interest in the El
Quevar project (the “Transaction”). The El Quevar project is located in Salta province, Argentina, a
renowned mining region and is owned by Silex Argentina S.A ., a wholly owned subsidiary of Golden
Minerals Company (“Golden”), a publicly listed company. The Company will compl ete the acquisition
through the purchase of 100% of the issued and outstanding shares of Silex Argentina S.A . for total
consideration of USD$3,500,000 in cash. In connection with the Transaction, and further to the
Company’s news release dated September 20 , 2024, the Company has completed a concurrent non-
brokered private placement for gross proceeds of $15,270,230. A second deposit of USD$500,000 has
been paid to Golden today.
Closing of the Transaction is subject to a number of conditions including receipt of all required corporate,
regulatory and third party consents, including TSX Venture Exchange approval, and satisfaction of other
customary closing conditions. There can be no assurance that the Transaction will be completed as
proposed or at all.
On behalf of BUTTE ENERGY INC.
“Geir Liland”
Chief Executive Officer
For further information please contact:
Tel: 604.609.6110
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
or accuracy of this release.
Certain statements and information herein contain forward-looking statements and forward-looking information
within the meaning of applicable securities laws. Such forward-looking statements or information include but are
not limited to statements or information with respect to: the proposed acquisition of the El Quevar project.
Although management of the Company believe s that the assumptions made and the expectations re presented by such
statements or information are reasonable, there can be no assurance that forward- looking statements or
information herein will prove to be accurate. Forward-looking statements and information by their nature are based
on assumptions and i nvolve known and unknown risks, uncertainties and other factors which may cause actual
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results, performance or achievements, or industry results, to be materially different from any future results,
performance or achievements expressed or implied by such f orward-looking statements or information. These risk
factors include, but are not limited to: the acquisition of the El Quevar project may not be completed as currently
anticipated, or at all; exploration and development of the El Quevar project may not re sult in any commercially
successful outcome for the Company; the conditions to acquire the El Quevar project may not be met as currently
contemplated, or at all; risks associated with the business of the Company; business and economic conditions in the
mining industry generally; changes in general economic conditions or conditions in the financial markets; changes
in laws (including regulations respecting mining concessions); and other risk factors as detailed from time to time.
The Company does not undertake to update any forward-looking information, except in accordance with applicable
securities laws.