Astra Completes Acquisition Consolidating 100% Interest in the Pampa Paciencia Gold Project in Northern Chile
ASTRA EXPLORATION INC. (TSX-V: ASTR, OTCQB: ATEPF)
NEWS RELEASE
Astra Completes Acquisition Consolidating 100% Interest in the Pampa Paciencia Gold
Project in Northern Chile
Vancouver, British Columbia – November 16, 2022 – Astra Exploration Inc. (TSX-V: ASTR, OTCQB:
ATEPF) (“Astra” or the “Company”) is pleased to announce that , further to its news release dated
November 3, 2022, it has completed the acquisition (the “Acquisition”) of a 20% interest in the Pampa
Paciencia project located in Northern Chile (the “Pampa Paciencia Project”) previously held by
Sociedad Quimica y Minera de Chile S.A. (the “Seller”). After the Acquisition, Astra holds a 100%
interest in the Pampa Paciencia Project.
CEO Brian Miller Commented: “We are pleased to complete this consolidation of our flagship project.
The acquisition of 100% in the Pampa Paciencia Project is a positive and strategic move by Astra
which increases upside potential to Astra shareholders. We would like to thank SQM and their
management team for their commitment in finalizing this transaction and we look forward to having
them as Astra’s newest shareholders.”
In connection with the Acquisition, Astra issued 1,455,208 common shares to Sociedad Quimica y
Minera de Chile S.A. (“SQM”) pursuant to the terms of the purchase and sale agreement at a deemed
value of $174,625 based on the Company’s closing price of $0.12 per share on November 2, 2022.
About Pampa Paciencia
Pampa Paciencia is a 3,840 hectare road -access low sulphidation epithermal (“LSE”) gold-silver
project located within an active mining district less than 15 kilometres from two major mines (Sierra
Gorda and Spence) and five kilometres from the Faride LSE mine.
Astra has completed drilling, mapping and sampling, geophysical surveys, and localized trenching ,
at the Pampa Paciencia Project, and in doing so has defined a vein boulder field over approximately
75% of the project area. The veins do not outcrop as the majority of the project area is covered by a
thin layer of gravels and caliche but the vein float can be used to identify areas of high prospectively.
To date, Astra has defined over two kilometres of thick vein structure averaging 10 -15 metres
estimated true thickness which hosts three zones of high-grade gold mineralization.
About the Company
Astra Exploration Inc. is a n exploration company based out of Vancouver, BC. Astra is engaged in
the acquisition, exploration and development of epithermal gold -silver properties in Chile and is
building a portfolio of high -quality projects. Astra’s current focus is the development of the Pampa
Paciencia Project.
Qualified Person
The technical data and information as disclosed in this news release has been reviewed and
approved by Darcy Marud. Mr. Marud is a Practicing Member of the Association of Professional
Geoscientists of Ontario and is a qualified person as defined under the terms of National Instrument
43-101 – Standards of Disclosure for Mineral Projects.
For further information please contact:
Brian Miller
Chief Executive Officer
Tel. 604.428.0939
Email: [email protected]
OR
Nikki McEachnie
Manager of Investor Relations, Marketing & Business Development
Tel: 416.209.4940
Email: [email protected]
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the
TSXV) accepts responsibility for the adequacy or accuracy of this release.
Mineralization hosted on adjacent and/or nearby and/or geologically similar properties is not
necessarily indicative of mineralization hosted on the Company’s properties.
This news release may contain certain “Forward -Looking Statements” within the meaning of the
United States Private Securities Litiga tion Reform Act of 1995 and applicable Canadian securities
laws. When or if used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”,
“target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking
statements or information. These forward -looking statements or information may relate to the
Company’s business activities; exploration on the Company’s properties; and marketing initiatives.
Such statements represent the Company’s current vie ws with respect to future events and are
necessarily based upon a number of assumptions and estimates that, while considered reasonable
by the Company, are inherently subject to significant business, economic, competitive, political and
social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause
results, performance or achievements to be materially different from the results, performance or
achievements that are or may be expressed or implied by such forward -looking statements. Such
factors include, without limitation: development of the industry in which the Company operates; risks
associated with the conduct of the Company's business activities; risks relating to reliance on the
Company's management team and outside co ntractors; currency fluctuations; risks regarding the
failure to generate sufficient cash flow from operations; laws and regulations governing the industry
in which the Company operates; the ability of the communities in which the Company operates to
manage and cope with the implications of COVID -19; the economic and financial implications of
COVID-19 to the Company; operating or technical difficulties; employee relations, labour unrest or
unavailability; stock market volatility; conflicts of interest among certain directors and officers; lack of
liquidity for shareholders of the Company; litigation risk; and other risk factors disclosed in the
Company’s public disclosure documents available on the Company’s profile at www.sedar.com.
Readers are cautioned against attributing undue certainty to forward-looking statements or forward-
looking information. Although the Company has attempted to identify important factors that could
cause actual results to differ materially, there may be other factors that cause res ults not to be
anticipated, estimated or intended. The Company does not intend, and does not assume any
obligation, to update these forward -looking statements or information to reflect changes in
assumptions or changes in circumstances or any other events affecting such statements and
information other than as required by applicable laws, rules and regulations.