Astra Executes Definitive Agreement to Acquire SQM’s Remaining 20% Interest in the Pampa Paciencia Gold Project in Northern Chile
ASTRA EXPLORATION INC. (TSX-V: ASTR, OTCQB: ATEPF)
NEWS RELEASE
Astra Executes Definitive Agreement to Acquire SQM’s Remaining 20% Interest in the
Pampa Paciencia Gold Project in Northern Chile
Vancouver, British Columbia – November 3, 2022 – Astra Exploration Inc. (TSX-V: ASTR, OTCQB:
ATEPF) (“Astra” or the “Company”) is pleased to announce that it has entered into a definitive
purchase agreement (the “Purchase Agreement”) with Sociedad Quimica y Minera de Chile S.A. (the
“Seller”) with respect to the acquisition of a 20% interest and title to the Pampa Paciencia project
located in Northern Chile (the “Pampa Paciencia Property”). Astra Exploration Inc. currently owns the
remaining 80% interest in the Pampa Paciencia Property.
CEO Brian Miller Commented: “The strategic expansion and acquisition of SQM’s remaining 20%
stake in the Pampa Paciencia project is an extremely positive development for Astra Exploration.
Acquiring the remaining 20% interest enables Astra to control 100% of critical prospective ground
and expands our strategic foothold in this emerging epithermal district of Northern Chile. This is a
major milestone for Astra and our shareholders.”
Pursuant to the Purchase Agreement dated November 2nd, 2022, the Company will acquire the 20%
interest in the Pampa Paciencia Project held by the Seller for total consideration of the issuance to
the Seller of 1,455,208 common shares in the capital of the Company (the "Consideration Shares")
at a deemed value of $174,625 based on the Company’s closing price of $0.12 per share on
November 2. The closing of the transaction contemplated by the Purchase Agreement remains
subject to approval of the TSX Venture Exchange. The Consideration Shares will be subject to a four
month hold period pursuant to applicable securities laws.
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.
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 t he 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 Litigation Reform Act of 1995 and applicable Canadian securities
laws. When or if used in this news releas e, 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; completion of the
transactions contemplated by the Purchase Agreement; receipt of all required regulatory approvals;
and marketing initiatives. Such statements represent the Compan y’s current views 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 soci al 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 forw ard-
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 contractors; 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 a re 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
results 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 an y other events affecting such statements and
information other than as required by applicable laws, rules and regulations.