Latin Metals Seeking Partners for Cerro Bayo Gold-Silver Project in Argentina and Lacsha Copper Project, Peru
Latin Metals Seeking Partners for
Cerro Bayo Gold-Silver Project in Argentina
and Lacsha Copper Project, Peru
NR23-18 October 27, 2023
Vancouver, B.C. – Latin Metals Inc. (“Latin Metals” or the “Company”) – (TSXV: LMS)
OTCQB: LMSQF) provides details of projects in Argentina and Peru for which it is seeking partners
to enter into option agreements. Latin Metals holds a diversified portfolio of mineral exploration
assets in South America. The Company operates with a Prospect Generator model whereby
partners are secured under option agreements to fund drilling and advanced exploration. The
Company has several projects which are drill-ready and for which partners are being sought.
Cerro Bayo Gold-Silver Project, Argentina
The Cerro Bayo gold-silver property (“Cerro Bayo” or the “Property”) is a drill-ready exploration
property located in the prolific Deseado Massif, Santa Cruz Province, Argentina, where
exploration since 1990 has resulted in the discovery of nearly 600 million ounces of silver and
around 20 million ounces of gold.
Latin Metals’ Cerro Bayo property is a 28,000-hectare, drill-ready project where 8 drill target
areas have been defined within a 6km wide trans-tensional basin. Exploration completed to date
includes property wide geological mapping, alteration mapping, magnetic survey, structural
modelling, and sampling of mineralized veins and breccia bodies. Drill permitting is in progress
and expected to be completed in due course. Agreements with holders of surface rights are in
place across the entire property.
A presentation summarizing the project and exploration to date can be downloaded here and the
Company welcomes expressions of interest.
Pursuant to an earn-in agreement (the “Agreement”) entered into by the Company with a wholly
owned subsidiary of Barrick Gold Corporation (“ Barrick”) (see news release dated February 7,
2022), whereby Latin Metals granted to Barrick the option to earn -up to an 85% interest in the
Property (the “Option”), Barrick has provided notice to Latin Metals of their intention to
relinquish the Option and terminate the Agreement, effective January 25, 2024 . Since entering
into the Agreement, Barrick has paid $513,000 to the underlying owner of the Property, $259,000
to Latin Metals, and incurred exploration expenditures of $1,848,000 on the Property, for a total
investment of $2,620,000.
Latin Metals is considering several strategic options including entering into an earn-in agreement
with another party.
NR23-18 Continued 2 October 27, 2023
1384-5203-1496, v. 1
Lacsha Copper Project, Peru
The 100%-owned Lacsha Copper Project is located in the coastal porphyry belt in Peru, which
hosts multiple copper-moly and copper-gold-moly porphyry deposits. Latin Metals has
completed extensive exploration over the past two years and secured a 4-year community
agreement to allow exploration and drilling. The project is now drill-ready and drill-permitted.
A presentation summarizing the project and exploration to date can be downloaded here and the
Company welcomes expressions of interest.
Qualified Person
The technical content of this release has been approved for disclosure by Keith J. Henderson
P.Geo, a Qualified Person as defined by NI 43-101 and the Company’s CEO. Mr. Henderson is not
independent of the Company, as he is an employee of the Company and holds securities of the
Company.
About Latin Metals
Latin Metals is a mineral exploration company acquiring a diversified portfolio of assets in South
America. The Company operates with a Prospect Generator model focusing on the acquisition
of prospective exploration properties at minimum cost, completing initial evaluation through
cost-effective exploration to establish drill targets, and ultimately securing joint venture partners
to fund drilling and advanced exploration. Shareholders gain exposure to the upside of a
significant discovery without the dilution associated with funding the highest-risk drill-based
exploration.
On Behalf of the Board of Directors of
LATIN METALS INC.
“Keith Henderson”
President & CEO
For further details on the Company readers are referred to the Company's web site (www.latin-
metals.com) and its Canadian regulatory filings on SEDAR at www.sedar.com.
For further information, please contact:
Keith Henderson
Suite 890
999 West Hastings Street
Vancouver, BC, V6C 2W2
Phone: 604-638-3456
E-mail: [email protected]
Neither 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.
NR23-18 Continued 3 October 27, 2023
1384-5203-1496, v. 1
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking
statements") within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private
Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein including,
without limitation, statements regarding the negotiation of the Option Agreements and exercise of the Option for the Properties,
the anticipated content, commencement, timing and cost of exploration programs in respect of the Properties and otherwise,
anticipated exploration program results from exploration activities, and the Company's expectation that it will be able to enter
into agreements to acquire interests in additional mineral properties, the discovery and delineation of mineral
deposits/resources/reserves on the Properties, and the anticipated business plans and timing of future activities of the Company,
are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance
that such expectations will prove to be correct. Often, but not always, forward looking information can be identified by words
such as "pro forma", "plans", "expects", "may", "should", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates",
"believes", "potential" or variations of such words including negative variations thereof, and phrases that refer to certain actions,
events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements
in this news release, the Company has applied several material assumptions, including without limitation, market fundamentals
will result in sustained precious metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals
in connection with the future development of the Company’s Argentine projects in a timely manner, the availability of financing
on suitable terms for the development, construction and continued operation of the Company projects, and the Company’s ability
to comply with environmental, health and safety laws.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to differ materially from any future results, performance or achievements expressed
or implied by the forward-looking information. Such risks and other factors include, among others, operating and technical
difficulties in connection with mineral exploration and development and mine development activities at the Properties, including
the geological mapping, prospecting and sampling programs being proposed for the Properties (the "Programs"), actual results
of exploration activities, including the Programs, estimation or realization of mineral reserves and mineral resources, the timing
and amount of estimated future production, costs of production, capital expenditures, the costs and timing of the development of
new deposits, the availability of a sufficient supply of water and other materials, requirements for additional capital, future prices
of precious metals and copper, changes in general economic conditions, changes in the financial markets and in the demand and
market price for commodities, possible variations in ore grade or recovery rates, possible failures of plants, equipment or processes
to operate as anticipated, accidents, labour disputes and other risks of the mining industry, delays or the inability of the Company
to obtain any necessary permits, consents or authorizations required, including TSX-V acceptance for filing of the Option
Agreements, any current or future property acquisitions, financing or other planned activities, changes in laws, regulations and
policies affecting mining operations, hedging practices, currency fluctuations, title disputes or claims limitations on insurance
coverage and the timing and possible outcome of pending litigation, environmental issues and liabilities, risks related to joint
venture operations, and risks related to the integration of acquisitions, as well as those factors discussed under the heading "Risk
Factors" in the Company's latest Management Discussion and Analysis and other filings of the Company with the Canadian
Securities Authorities, copies of which can be found under the Company's profile on the SEDAR website at www.sedar.com.
Readers are cautioned not to place undue reliance on forward looking statements. Except as otherwise required by law, the
Company undertakes no obligation to update any of the forward-looking information in this news release or incorporated by
reference herein.