Minsud Announces Extension of Closing of the Transfer of 50.1% Interest in its Argentinian Subsidiary
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TSX-V: MSR
February 9, 2024
Minsud Announces Extension of Closing of the Transfer of
50.1% Interest in its Argentinian Subsidiary
TORONTO, ONTARIO – Minsud Resources Corp. (TSX -V: MSR) ( “Minsud” or the
“Company”) announces that, further to the Company’s press releases dated April 13, 2023
and November 27, 2023 in connection with South32 Alumini um (Holdings) Pty Ltd. ’s
(“South32”) exercise of its earn-in right (the “Earn-In Right”) to acquire a 50.1% ownership
interest in Minera Sud Argentina S.A. (“ MSA”), Minsud’s indirect Argentinian subsidiary that
holds and operates the flagship Chita Valley Project, due to procedural administrative delays
the closing date of the acquisition has been extended from February 14, 2024 to April 5, 2024
(“Completion”).
At the time of Completion, Minsud Argentina Inc. (“ MAI”), a wholly owned subsidiary of the
Company, and South32 will enter into a shareholders' agreement to govern the management
and operation of MSA which will include further exploration and, if economically feasible, the
development and exploitation of the Chita Valley Project. Until Completion, MAI shall continue
to manage and operate MSA and, therefore, the Chita Valley Project.
About the Chita Valley Project, San Juan Province
The Chita Valley Project is a large exploration stage porphyry system with classic alteration
features, widespread porphyry style Cu- Mo-Au and polymetallic Ag- Pb-Zn min eralization
hosted by Hydrothermal Phreatic Breccias and associated gold and silver-bearing polymetallic
veins of intermediate sulfide composition that conformed an outcropping porphyry system at
Chita and a lithocap of a porphyry system at Chinchillones. San Juan Province of Argentina
has a robust mining sector and recognizes the important economic benefits of responsible
development of its substantial Mineral Resource endowment.
About Minsud Resources Corp.
Minsud is a mineral exploration company focused on exploring i ts flagship Chita Valley Cu-
Mo-Au-Ag-Pb-Zn Project, in the Province of San Juan, Argentina. The Company's shares are
listed on the TSX -V under the trading symbol “MSR”, and on the OTCQX under the symbol
“MDSQF”.
About South32
South32 is a globally diversified mining and metals company. The company’s purpose is to
make a difference by developing natural resources, improving people’s lives now and for
generations to come. South32 is trusted by its owners and partners to realize the potential of
their resources. South32 produces commodities including bauxite, alumina, aluminium,
copper, silver, lead, zinc, nickel, metallurgical coal and manganese from its operations in
Australia, Southern Africa and South America. With a focus on growing its base metals
exposure, South32 also has two development options in North America and several
partnerships with junior explorers around the world.
FOR FURTHER INFORMATION PLEASE CONTACT
Ramiro Massa
President and Chief Executive Officer
+1 416-479-4466
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CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This news release includes certain information that may constitute forward-looking information
under applicable Canadian secur ities laws. Forward- looking information includes, but is not
limited to, statements about strategic plans, spending commitments, future operations, results
of exploration, anticipated financial results, future work programs, capital expenditures and
objectives. Forward-looking information is necessarily based upon a number of estimates and
assumptions that, while considered reasonable, are subject to known and unknown risks,
uncertainties, and other factors which may cause the actual results and future events to differ
materially from those expressed or implied by such forward- looking information including, but
not limited to: fluctuations in the currency markets (such as the Canadian dollar, Argentina
peso, and the U.S. dollar); changes in national and local government, legislation, taxation,
controls, regulations and political or economic developments in Canada and Argentina or other
countries in which the Company may carry on business in the future; operating or technical
difficulties in connection with ex ploration and development activities; risks and hazards
associated with the business of mineral exploration and development (including environmental
hazards or industrial accidents); risks relating to the credit worthiness or financial condition of
suppliers and other parties with whom the Company does business; presence of laws and
regulations that may impose restrictions on mining, including those currently enacted in
Argentina; employee relations; relationships with and claims by local communities; availability
and increasing costs associated with operational inputs and labour; the speculative nature of
mineral exploration and development, including the risks of obtaining necessary licenses,
permits and approvals from government authorities; business opportunities that may be
presented to, or pursued by, the Company; challenges to, or difficulty in maintaining, the
Company’s title to properties; risks relating to the Company’s ability to raise funds; and the
factors identified under “Risk Factors” in the Company's Filing Statement dated April 27, 2011.
There can be no assurance that such information will prove to be accurate, as actual results
and future events could differ materially from those anticipated in such information.
Accordingly, readers should n ot place undue reliance on forward- looking information. All
forward-looking-information contained in this news release is given as of the date hereof and
is based upon the opinions and estimates of management and information available to
management as at t he date hereof. The Company 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.
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defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy
or accuracy of this release.