Astra Exploration Elects to Proceed With Option Agreement For Manchuria Epithermal Gold-Silver Project, Santa Cruz, Argentina
ASTRA EXPLORATION INC. (TSX-V: ASTR, OTCQB: ATEPF, FSE: S3I)
NEWS RELEASE
Astra Exploration Elects to Proceed With Option Agreement For Manchuria
Epithermal Gold-Silver Project, Santa Cruz, Argentina
Vancouver, British Columbia – October 25, 2024 – Astra Exploration Inc. (TSX-V: ASTR, OTCQB:
ATEPF, FSE: S3I) (“Astra” or the “Company”) is pleased to announce that in connection with the
binding letter agreement dated July 8, 2024 (the “Agreement”) approvals from both the existing
royalty holder and from the Santa Cruz Provincial authorities have been received, and Astra has
delivered timely notice to Patagonia Gold Corp of its election to proceed with the Agreement (see
July 9, 2024 news release).
Astra has the exclusive option to acquire up to a 90% interest in the Manchuria epithermal gold-
silver Project (the “Project”) from Patagonia Gold Corp (“Patagonia”) located in the prolific
Deseado Massif of Santa Cruz, Argentina.
Astra’s CEO, Brian Miller commented:
Astra’s review of the data, and re -logging of drill core continue s to produce evidence of a large
epithermal system at Manchuria which has the potential to host a high-grade, multi-million-ounce
precious metals deposit. Investor interest in both the Manchuria project and in Argentina as a
favorable jurisdiction has been very positive , and we’re excited to proceed with exploration as
soon as possible.
About the Company
Astra Exploration Inc. is a precious metals exploration company based out of Vancouver, BC that
is actively building a portfolio of high -quality projects in some of the most important mining
jurisdictions in Latin America. Its 100% ow ned Pampa Paciencia low sulphidation epithermal
(LSE) gold -silver project is located in the Paleocene mineral province of northern Chile in
proximity to such major operating mines as Spence and Sierra Gorda, and shares several
important geological similarities to other Paleocene LSE gold-silver deposits including Faride and
El Peñón. The Manchuria LSE gold-silver project over which Astra has an option to acquire 90%
interest, is located in the prolific Deseado Massif of Santa Cruz, Argentina which hosts multiple
world-class LSE precious metals deposits including Cerro Vanguardia and Cerro Negro.
Qualified Person
The technical data and information as disclosed in this news release has been reviewed and
approved by Darcy Marud, who is an Independent Director of Astra . 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]
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 Litigation 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; completion of the
transactions contemplated by the Purchase Agreement; receipt of all required regulatory
approvals; and marketing initiatives. Such statements represent the Company’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
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factors, both known and unknown, could cause results, performance or achievements to be
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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
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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;
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information. Although the Company has attempted to identify important factors that could cause
actual results to differ materially, there may be other factor s that cause results not to be
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assumptions or changes in circumstances or a ny other events affecting such statements and
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