Hispania Resources Announces Transaction at Lumbrales Property
Hispania Resources Announces Transaction at Lumbrales Property
Not for distribution to United States Newswire Services or for dissemination in the United States.
Toronto, Ontario-- (Newsfile Corp. – September 17, 2026) - Hispania Resources Inc. (TSXV: ESPN)
("Hispania" or "the Company"), a mineral exploration company focused on properties in Spain, is pleased
to announce that it has reached an agreement with Calveron Metal Resources LDA (“ Calveron”) of
Portugal, wherein Calveron can acquire up to a 100% interest in the company’s wholly owned Lumbrales
property via a Joint Venture Company between the two companies.
The Lumbrales property located i n Castille, Spain, was acquired by Hispania from Siemcalsa and sits on
the Stanniferous Iberian Belt which includes about 100 Tin and Tungsten deposits in Spain and Portugal.
The terms of the agreement with Calveron are as follows:
Phase 1 Calveron shall between September 15, 2026, and September 1, 2027, incur expenditures of not
less than 400,000 Euros of which 150,000 Euros shall occur before October 10, 2026 and 50,000 Euros
before October 31 2026. In addition, Hispania shall be issued Two Hundred Thousand Euros worth of
shares (200,000 Euros) in Calveron or Calveron's parent company. Upon successful completion Calveron
will acquire a 25% interest in Lumbrales via the Joint Venture Company (“JVC”).
Phase 2 Calveron shall between September 1, 2027, and September 1, 2028, incur a further 500,000 Euros
of expenditures on the Lumbrales property and in addition Hispania shall be issued a further Three
Hundred and Fifty Thousand Euros worth of shares (350,000 Euros) in Calveron or Calveron's parent. Upon
completion of these expenditures Calveron will have earned 50% of the Lumbrales property via the JVC.
Phase3 Calveron shall between September 2, 2028 and September 1, 2029, incur a further 1,000,000
Euros of expenditures on the Lumbrales property and in addition Hispania shall be issued a further Four
Hundred and Fifty Thousand Euros worth of shares (450,000 Euros) in Calveron or Calveron's parent. Upon
completion of these expenditures Calveron will have earned a 75% interest in Lumbrales via the JVC.
Upon earning a 75% interest in Lumbrales via the JVC, Calveron will have the option to acquire the
remaining 25% interest owned by Hispania for One Million Euros (1,000,000 Euros). This option may be
exercised any time in the three (3) years following completion of Phase 3 noted above.
Upon completion of the expenditures, Hispania will also own a 1.5% Net Smelter Royalty (“NSR”) on all
minerals and metals produced from the Project. Calveron will have the option to extinguish the NSR, at
its sole discretion, by paying Hispania Two Million Five Hundred Thousand (2,500,000) Euros.
Over the past two and a half years, Hispania has:
● completed the acquisition of Lumbrales from Siemcalsa
● had its management and local representative (Facultivo) work with the local government and
stakeholders on all aspects of the project site and local regulations therein
● Completed a drilling program at the site
In total, Hispania has spent approximately 450,000 Euros at and on Lumbrales, and this transaction values
the total potential payments to Hispania at Two Million Euros (2,000,000 Euros) and Four Million Five
Hundred Thousand Euros (4,500,000 Euros) including the NSR, which gives Hispania a potential 3.4x return
on its expenditures and 10x return when including the NSR. “This transaction goes to our belief that with
our pedigree and experience in Spain, including finding and selling Iberian Minerals Corp. to Trafigura, we
have the ability to identify and develop base metals assets in Spain and transact on these assets. The
Lumbrales transaction is our first in Hispania and we are keen to continue to identify and develop assets
in country, including our wholly owned Puebla de la Reina and Otero assets” stated Norman Brewster,
Chief Executive Officer.
Hispania is pleased to have entered into the Earn In agreement with Calveron and is looking forward to
seeing the work plan being carried out in the coming months. “With Calveron’s knowledge of the
Portuguese and Spanish regions, they were a great fit for us to work with, as both parties have been
completing due diligence and analysis over the past year. With improved metals pricing, this transaction
will push the Lumbrales project forward and we look forward to the developments with our partners at
Calveron” stated Brewster.
The Company intends to update investors on the progress being made at Lumbrales by Calveron.
About Hispania Resources Inc.
Hispania Resources Inc is a mineral exploration company focused on mining opportunities in Spain.
Hispania is currently focused on developing 3 core assets across Spain, including the copper, zinc project
Otero; the formerly producing tin project Lumbrales and the copper, zinc Puebla de la Reina project. The
management of Hispania contains industry veterans who have more than 120 years of mineral exploration
and production experience in multiple jurisdictions and have successfully managed multiple international
mining companies. This includes in Spain, where some of the team was responsible for the founding and
building of Iberian Minerals with the continued support of the local and regional governments, including
the well-developed and sophisticated transportation and mining infrastructure.
For more information on Hispania Resources Inc., visit: http://HispaniaResources.com/.
Contact Information
For more information or interview requests, please contact:
Norman Brewster - Chief Executive Officer
(416) 970-3223
Rahim Allani - Director
(416) 457-0549
Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable securities
laws. Forward-looking information can be identified by words such as: "intend", "believe", "estimate",
"expect", "may", "will" and similar references to future periods. Examples of forward-looking information
include, among others, the expected commencement of work on the PBR project, the expected meetings
with local drilling firms, as well as information relating to Hispania. Although Hispania believes that, in
light of the experience of its officers and directors, current conditions and expected future developments
and other factors that have been considered appropriate, the expectations reflected in this forward-
looking information are reasonable, undue reliance should not be placed on them because Hispania can
give no assurance that they will prove to be correct. Readers are cautioned to not place undue reliance
on forward-looking information. Actual results and developments may differ materially from those
contemplated by these statements depending on, among other things, the risk that the future plans of
Hispania may differ from those that currently are contemplated Additional risks include those disclosed
in the Filing Statement, which are incorporate herein by reference and are available through SEDAR
at www.sedar.com. The forward-looking statements contained in this news release are made as of the
date hereof, and the Company undertakes no obligation to update publicly or revise any forward-looking
statements or information, except as required by law.
This news release is not an offer of the securities for sale in the United States. The securities described
in this news release have not been registered under the U.S. Securities Act of 1933, as amended, and
may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as
defined in Regulation S under the U.S. Securities Act of 1933, as amended) absent registration or an
exemption from registration. This news release shall not constitute an offer to sell or a solicitation of an
offer to buy nor shall there be any sale of the securities in any state in which where such offer,
solicitation or sale would be unlawful.
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 news
release.
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