Astorius Renegotiates Osos 1 Option Term and Commits to 1ST Q1 2018 Work Program IN Ecuador
ASTORIUS RENEGOTIATES OSOS 1 OPTION TERM AND
COMMITS TO 1ST Q1 2018 WORK PROGRAM IN ECUADOR
Vancouver, British Columbia – December 5th, 2017 – Astorius Resources Ltd. (TSX-V:
ASQ, Frankfurt: 47AF) (“Astorius” or the “Company”) is pleased to announce that the
Company has renegotiated the option for the property Osos 1 (Mr. Francisco Soria or the
"Optionor"), and has initiated an exploration program in Ecuador aiming to explore the
recently optioned Osos 1 properties.
OPTIONOR HEREBY GRANT TO ASQ THE OPTION ON TERMS DEFINED BELOW;
Date Cash Considerations Issuance of shares Work Obligations
(First Quarter 2018)
On approval by TSX of
this Option Agreement or
on December 5, 2017,
whatever happens first
US$ 25,000
From January 2018 to
March 2018
US$ 50,000 to be
invested in exploration in
the first quarter of 2018
On March 15, 2018
Pay annual patent tax on
the Claim and file annual
Exploration and Audit
reports to the Ecuadorian
authorities
On March 30, 2018 when
the Definite Agreement
will be signed
US$ 50,000 100,000
On September 30, 2018
US$ 50,000 200,000
US$ 100,000 to be
invested in advanced
exploration on the second
and third quarters of 2018
On March 30, 2019 US$ 150,000 300,000 Investment needed for
development
On September 30, 2019 US$ 350,000 400,000 Investment needed for
development
TOTAL US$ 625,000 1,000,000
DEFINITIVE AGREEMENT TERMS:
The Definitive Agreement will contain the following terms and conditions:
• Payments in cash of no more than US$ 625,000 dollars to be paid on the dates to be agreed by the
Parties when signing the Definitive Agreement; and
• Issuance of 1,000,000 (one million) ASQ shares in favor of Optionor or whoever it will determine
for such effect.
• On September 30, 2019, Astorius will grant Mr. Francisco Soria a 1.5% NSR (Mining Royalty)
Astorius’ 229 hectare Osos 1 mining concession lies within the El Oro province of southern
Ecuador, 35 kilometers south-southeast of the port city of Machala and 10 kilometers southwest
of Lumina Gold’s Cangrejos Project. No drilling has to date taken place on the property. Access
to the property is by paved and gravel roads. (see: map)
Studies by Newmont on and around the property in 2000 included Aerial Geophysics, soil, and rock
geochemical analysis. Between 2006 and 2009 Kinross conducted geological mapping, soil, and rocks
geochemical studies and identified anomalies of gold with arsenic in an area covering 1000 x 600 meters.
(see: map)
Astorius carried out a due diligence study of the property in December 2016, during which the best
sample taken of artisinally mined minerals within the property yielded an assay of 252 g/t Au (see
News Release dated March 21, 2017). The scale of development of these gold veins may merit
upscaling of current artisanal mining to significantly larger conventional underground mining operations.
The breccia’s mapped at surface by Kinross are present at depth and carry significant levels of gold.
These breccias have the potential, as illustrated by breccia’s in similar geological settings, to be profitably
mined by bulk open pit or underground methods. (see: picture)
Detailed sampling and mapping of all underground workings on the property is planned for Q1 2018 in
preparation for a diamond-drilling program targeting both high-grade vein gold/silver mineralization, and
lower grade disseminated gold mineralization.
The Board is very pleased with the property agreement and looking forward to the 2018 work program on
the Osos 1 property.
About Astorius Resources Ltd.
Astorius (TSX.V: ASQ Frankfurt: 47AF) is a junior exploration, and near-term production company focused on
high-value minerals deposits in North and South America.
Arthur Brown Reports
CEO
For further information, please contact:
Arthur Brown, CEO (604) 662-7902
www.astoriusresources.com
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements," Statements in this press release which are not purely
historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or
intentions regarding the future, including but not limited to, statements regarding the exploration results on the
Osos 1 mining concession.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such
factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties
associated with obtaining financing on acceptable terms. We are not in control of metals prices, and these could
vary to make development uneconomic. These forward-looking statements are made as of the date of this news
release, and we assume no obligation to update the forward-looking statements or to update the reasons why actual
results could differ from those projected in the forward-looking statements. Although we believe that the beliefs,
plans, expectations, and intentions contained in this press release are reasonable, there can be no assurance that
such beliefs, plans, expectations or intentions will prove to be accurate.