Sailfish Provides Update on its San Albino Gold Stream and Royalty TORTOLA, British Virgin Islands ,
Sailfish Provides Update on its San Albino Gold Stream
and Royalty
TORTOLA,
British Virgin Islands
,
Oct. 31, 2022
/CNW/ - Sailfish Royalty Corp. (TSXV: FISH) (OTCQX: SROYF) (the
"
Company
" or "
Sailfish
") provides an update on the
October 24, 2022
announcement by the United States Department of the
Treasury's Office of Foreign Assets Controls ("
OFAC
") relating to new U.S. sanctions imposed on the General Directorate of
Mines ("
DGM
") pursuant to Executive Order ("
EO
") 13851, as well as the issuance of EO 14088 ("
October 24
measures
").
On
October 31, 2022
, Mako Mining Corp. ("
Mako
") announced that "
while the Company is currently undertaking an internal
review of the impact of the
October 24
measures on current and future planned operations in
Nicaragua
, in coordination with
its U.S. and Canadian advisors, and consistent with its commitment to comply with applicable legal and regulatory
requirements, the Company does not expect any material changes to its
Nicaragua
operations due to the
October 24
measures
."
Paolo Lostritto
, Chief Executive Officer of Sailfish states that, "To date, there has been no material impact on our Nicaraguan
stream. We will continue to monitor the situation to ensure that we comply with all applicable legal and regulatory requirements.
The Company has been actively using its normal course issuer bid to purchase Sailfish shares in the market given that we
believe the current market value does not reflect the fundamental value of our asset base."
For complete information, please refer to Mako's news release issued on
October 31, 2022
, which is available on its SEDAR
profile at
www.sedar.com
or on Mako's website at
www.makominingcorp.com
.
About Sailfish
Sailfish is a precious metals royalty and streaming company. Within Sailfish's portfolio are two main assets in the Americas: a
gold stream equivalent to a 3% NSR on the San Albino gold mine (~3.5 sq. km) and a 2% NSR on the rest of the area (~134.5
sq. km) surrounding San Albino in northern
Nicaragua
; and an up to 3% NSR on the multi-million ounce
Spring Valley
gold
project in
Pershing County, Nevada
.
Sailfish is listed on the TSX Venture Exchange under the symbol "FISH" and on the OTCQX under the symbol "SROYF".
Please visit the Company's website at
www.sailfishroyalty.com
for additional information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary statement regarding forward–looking information
Certain disclosures in this release constitute "forward-looking information" within the meaning of Canadian securities
legislation. Forward-looking statements are statements that are not historical facts and are generally, but not always,
identified by words such as the following: expects, plans, anticipates, believes, intends, estimates, projects, assumes,
potential and similar expressions. Forward-looking statements also include reference to events or conditions that will, would,
may, could or should occur, including, without limitation, statements regarding that the Company does not expect any
material changes to its
Nicaragua
operations due to the
October 24
measures; that the Company will continue to actively
purchase shares under the normal course issuer bid; In making the forward-looking statements in this news release, the
Company has applied certain factors and assumptions that the Company believes are reasonable, including that the
Company does not expect any material changes to its
Nicaragua
operations due to the
October 24
measures. However, the
forward-looking statements in this news release are subject to numerous risks, uncertainties and other factors that may
cause future results to differ materially from those expressed or implied in such forward-looking statements, including
without limitation: that the
October 24
measures do result in the need for material changes to the Mako's
Nicaragua
operations; thus, impacting Sailfish's stream and royalty and the continuing success of the San Albino mine; that the
Company is not actively purchasing shares under the normal course issuer bid; risks and uncertainties relating to other
political risks involving any future EOs and sanctions imposed on
Nicaragua
. There can be no assurance that such
statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking
information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The
Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that
are incorporated by reference herein, except in accordance with applicable securities laws.
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SOURCE
Sailfish Royalty Corp.
View original content to download multimedia:
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%SEDAR: 00044073E
For further information:
Paolo Lostritto, CEO, tel. 416-602-2645 or Akiba Leisman, Executive Chairman of the Board, tel.
203-862-7059.
CO: Sailfish Royalty Corp.
CNW 08:00e 31-OCT-22