GR Silver Mining Closes Marlin Gold Disposition Strengthening its Balance Sheet
GR Silver Mining Closes Marlin Gold
Disposition Strengthening its Balance Sheet
VANCOUVER, BC
,
July 17, 2024
/CNW/ -
GR Silver Mining Ltd.
("
GR Silver Mining
" or the
"
Company
") (TSXV: GRSL) (OTCQB: GRSLF) (FRANKFURT: GPE) – is pleased to announce that
it has closed the transaction announced
June 28, 2024
(
news release
) pursuant to which a private,
arm's-length Canadian company active in
Mexico
("
PrivateCo
") has acquired from the Company
100% of the issued and outstanding shares of Marlin Gold Mining Ltd. ("
Marlin
"). Marlin is a private
British Columbia
company which owns, amongst other assets, Oro Gold de
Mexico
, S.A. de C.V.
("
Oro Gold
"), a private Mexican company that owns 100% of nine concessions ("
Concessions
"),
including the past producing
La Trinidad
mine, located adjacent to the Company's core Plomosas
Project.
Pursuant to the Agreement, GR Silver Mining has transferred to PrivateCo all existing assets and
rights, as well as all outstanding undertakings, covenants, indemnities and obligations, of Marlin and
its subsidiaries, including
Oro Gold
, in consideration for which GR Silver Mining has received a 0.5%
NSR Royalty on the Concessions owned by
Oro Gold
and a 10-year first right of refusal on any
disposition of the Concessions by PrivateCo.
The Agreement eliminates most of the Company's working capital deficit without diminishing its
resource inventory, allowing GR Silver Mining to focus on resource growth and the potential
development of the Company's core Plomosas Project (78 km
2
), including the San Marcial,
Plomosas Mine, and San Juan Areas.
About GR Silver Mining Ltd
.
GR Silver Mining is a Canadian-based,
Mexico
-focused junior mineral exploration company engaged
in cost effective silver-gold resource expansion on its 100%-owned assets, located on the eastern
edge of the Rosario Mining District, in the southeast of Sinaloa State,
Mexico
. GR Silver Mining
controls 100% of the former Plomosas underground mine within the Plomosas Project, which
includes the integrated San Marcial Area. In conjunction with a portfolio of early to advanced stage
exploration targets, the Company holds 78 km
2
of highly prospective core concessions and an
additional 270 km
2
of non-core concessions.
GR Silver Mining Ltd.
Eric Zaunscherb, Chair & CEO
Cautionary Statement Regarding Forward-Looking Information
This press release contains "forward-looking statements" within the meaning of applicable
Canadian securities legislation and information that are based on the beliefs of management and
reflect the Company's current expectations. When used in this press release, the words "estimate",
"project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the
negative of these words or such variations thereon or comparable terminology are intended to
identify forward-looking statements and information. Such statements and information reflect the
current view of the Company. Risks and uncertainties may cause actual results to differ materially
from those contemplated in those forward-looking statements and information. By their nature,
forward-looking statements involve known and unknown risks, uncertainties and other factors
which may cause our actual results, performance or achievements, or other future events, to be
materially different from any future results, performance or achievements expressed or implied by
such forward-looking statements.
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 press release.
SOURCE
GR Silver Mining Ltd.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/July2024/17/c5540.html
%SEDAR: 00040149E
For further information:
For further information, please contact: Eric Zaunscherb, Telephone:
+1.647.293.8457, Email: [email protected]
CO: GR Silver Mining Ltd.
CNW 07:30e 17-JUL-24