Minaurum Announces Option with Fortuna Silver
NEWS RELEASE
MINAURUM GOLD INC.
FOR RELEASE: January 7, 2021 TRADING SYMBOL TSX.V:MGG
(MGG 2021 – NR #1)
Minaurum Announces Option with Fortuna Silver
Minaurum Gold Inc . (“Minaurum”) (TSXV:MGG) (OTCQX:MMRGF) is pleased to announce
that Minaurum and its wholly-owned subsidiary Minera Minaurum Gold, S.A. de C.V (“ MGG”)
along with Fortuna Silver Mines Inc. (“Fortuna”) (FSM:NYSE) and Fortuna’s wholly -owned
subsidiary Compania Minera Cuzcatlan S.A. de C.V. (“CMC”) have entered into an option
agreement, pursuant to which CMC can earn up to an 80% interest in MGG’s Taviche silver project
in Oaxaca, Mexico (“Taviche”).
Under the terms of the option agreement, CMC can initially earn a 60% interest (the “Initial
Interest”) in the project by making cash payments totaling US$450,000 and incurring US$4M in
work expenditures over three years. Upon earning the Initial Interest, Fortuna can then earn an
additional 20% interest for a total 80% interest in the project by funding Minaurum 's acquisition
by way of option exercise of the remaining 20% interest. Upon CMC acquiring the Initial Interest,
the parties will form a joint venture, pursuant to which Minaurum will retain a 20% interest which
shall be carried until a positive construction decision is made, which is supported by a mineral
resource calculation in accordance with National Instrument 43-101 Standards of Disclosure for
Mineral Projects and a Preliminary Economic Assessment.
“We are excited to be partnering with Fortuna at the Taviche Silver project” stated Darrell
Rader, President and CEO of Minaurum. “This agreement allows us to retain an interest in
Taviche’s advancement while still maintaining control over our core assets. We look forward
to updating the market as Fortuna unlocks the potential upside of the Taviche project.”
Under the terms of the option agreement, CMC will act as the operator of the project however all
budgets, activities a nd programs during the option period will be managed by a technical
committee consisting of two representatives of Fortuna and one representative of Minaurum. If a
positive construction decision is not made within seven years of the date of the option agreement,
Minaurum will have the option, exercisable for a period of 60-days to purchase CMC's interest in
the project in exchange for a cash payment equal to Fortuna’s work expenditures to date.
Option Schedule to Earn a 60% interest in the Taviche Silver Project
(all amounts in USD$ unless otherwise stated)
MILESTONE CASH WORK EXPENDITURES
Upon Signing $75,000
1st Anniversary $100,000
2nd Anniversary $125,000
3rd Anniversary $150,000
Total: $450,000 $4,000,000
The Taviche Project
The Taviche project hosts a historic silver district. Past exploration by Gold79 Mines Ltd.
(formerly Aura Resources Inc.) returned high-grade drill results from the Higo Blanco prospect
including 34.2 m of 262 g/t Ag, including 12.1 m of 519 g/t Ag. In addition, several intervals of
gold mineralization were intersected including 8.35 m of 2.05 g/t gold (HBET -24). (Please see
Aura Resources Inc. news releases dated January 18, 2010 and June 16, 2010).
For more information on the Taviche Silver Project: www.minaurum.com/projects/taviche/
For more information on Fortuna Silver Mines Inc: www.fortunasilver.com
Minaurum Gold Inc. (MGG | TSX Ventur e Exchange; MMRGF | OTC; 78M Frankfurt) is
a Mexico-focused explorer concentrating on the high -grade Alamos Silver Project in southern
Sonora. With a property portfolio encompassing multiple additional district -scale projects,
Minaurum is managed by one of the strongest technical and finance t eams operating in Mexico.
Minaurum's goal is to continue its founders' legacy of creating shareholder value by making
district-scale mineral discoveries and executing accretive mining transactions. For more
information, please visit our website at www.minaurum.com and our YouTube Minaurum Video
Channel.
ON BEHALF OF THE BOARD
“Darrell A. Rader”
Darrell A. Rader
President and CEO
For more information, please contact:
Sunny Pannu – Investor Relations and Corporate Development Manager
(778) 330 0994 or via email at [email protected]
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this
news release.
___________________________________________________________________________
2300 – 1177 West Hastings Street Telephone 778 330-0994
Vancouver, BC V6E 2K3 www.minaurum.com
Stephen R. Maynard, Vice President of Exploration of Minaurum and a Qualified Person as defined by National
Instrument 43-101 has approved the disclosure in this News Release. Historical data reported in this news release
has not been verified.
Cautionary Note Regarding Forward Looking Information: This news release contains "forward -looking
information" within the meaning of applicable Canadian securities legislation. "Forward -looking information"
includes, but is not limited to, statements with respect to activities, events or developments that the Company expects
or anticipates will or may occur in the future. Generally, but not always, forward-looking information and statements
can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words
and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur"
or "be achieved" or the negative connotation thereof.
In making the forward -looking information in this release, Minaurum has applied certain factors and assumptions
that are based on Minaurum’s current beliefs as well as assumptions made by and information currently available to
Minaurum. Although Minaurum considers these assumptions to be reasonable based on information currently
available to it, they may prove to be incorrect, and the forward -looking information in this 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 information.
Readers are cautioned not to place undue reliance on forward -looking information. Minaurum does not intend, and
expressly disclaims any intention or obligation to, update or revise any forward -looking information whether as a
result of new information, future events or otherwise, except as required by law .