Evrim signs LOI with Coeur Mining, Inc. to option Sarape gold-silver project
910-850 WEST HASTINGS ST. VANCOUVER, BC, CANADA V6C 1E1
TEL: 604.248.8648 FAX: 604.248.8663 WWW.EVRIMRESOURCES.COM
TSX-V: EVM
CONTACT: PADDY NICOL OR CHARLES FUNK
NEWS RELEASE
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 release.
Evrim signs LOI with Coeur Mining, Inc. to option Sarape gold-silver project
Vancouver B.C. – February 20, 2018: Evrim Resources Corp. (TSX.V:EVM) (“Evrim” or the “Company”) is pleased to
announce that it has signed a Letter of Intent (the “LOI”) with a subsidiary of Coeur Mining, Inc. (“Coeur”) on the
Company’s Sarape epithermal gold -silver project in Sonora, Mexico. Coeur may acquire up to a n 80% interest in
Sarape by spending US$16.5 million on exploration, making staged cash payments of US$2.4 million, and completing
a National Instrument (“NI”) 43-101 compliant Feasibility Study on a minimum measured and indicated resource
estimate of 1,000,000 ounces gold equivalent, within a ten-year period. Sarape is located in an emerging epithermal
gold belt that hosts Premier Gold’s Mercedes Mine, First Majestic Silver’s Santa Elena Mine, and the Ermitaño gold
discovery, a project under option to First Majestic Silver.
“We are excited to partner with Coeur on the Sarape project, and this transaction represents our seventh active
exploration partnership” commented Evrim’s CEO, Paddy Nicol. “ Like the Ermitaño project, Sarape exhibits large
outcropping veins up to six kilometres in length and has never been drill tested. The exploration of Sarape to date
has focused on the recognition of textures within the veins at surface which commonly occur above concealed high-
grade ore-shoots.”
Transaction Terms
After a US$100,000 cash payment upon signing a Definitive Agreement and a first -year firm commitment of
US$500,000 in exploration costs, Coeur can then earn an initial 51% (the “Initial Interest”) by completing the annual
earn-in commitments and a N I 43-101 Preliminary Economic Analysis (“PEA”) on a minimum inferred resource of
1,000,000 ounces of gold equivalent. After earning the Initial Interest, Coeur can elect to earn an additional 39%
interest (the “Second Interest”) by delivering a NI 43-101 compliant Feasibility Study on a minimum measured and
indicated resource of 1,000,000 ounces of gold equivalent and making scheduled cash payments and minimum
exploration expenditures up to the date of delivering the Feasibility Study . Once Coeur has earned the Second
Interest, it will continue to pay to Evrim US$100,000 per year until mining and construction perm its are received.
Once the permits are received, Evrim may elect to participate in the joint venture with a 20% interest, or convert
its 20% interest into a 3% net smelter royalty (“NSR”) of which one-third can be purchased for US$2.0 million.
If Coeur elects not to proceed with the Second Interest, it will convert its 51% interest to a 2% NSR of which one -
half can be purchased by Evrim for US$2.0 million.
Evrim will be the operator for the project up to the completion of the PEA after which Coeur shall be the operator.
About the Sarape Project
Sarape was identified through Evrim’s generative programs with reconnaissance exploration completed in early
2017. The project is 100% owned by Evrim with no underlying royalties and is located near excellent infrastructure
with roads and power crossing the 5,776 hectare property (Figure 1).
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 release.
Work to date defined two major veins: the Sarape vein, a northwest trending vein measuring six kilometres in length
and up to twelve metres in width, and the Chiltepin vein, a west trending vein measuring 2.6 kilometres in length
and up to three metres in width. Both veins are located either side of a Laramide age horst block (Figure 3).
Systematic channel sampling reveal ed that the western portion of both vei ns contains barren white quartz and
calcite veins that are interpreted to represent late influx and boiling of meteoric fluids during the collapse of a
hydrothermal system. The eastern portion of the veins are composed of a separate phase of low-temperature, tan
green quartz that consistently assays from 0.10 to 0.36 g/t gold across sampled widths , with individual samples
assaying up to 3.6 g/t gold. Neither vein has ever been drilled.
Figure 1 Location of Sarape project
Sarape Project, Sonora
Mexico
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 release.
Figure 2 Geology map of Sarape claim
Figure 3 Conceptual cross-section
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 release.
Qualified Person Statement
Evrim's disclosure of technical or scientific information in this press release has been reviewed and approved by
Stewart Harris, P.Geo., Vice President of Technical Services. Mr. Harris serves as a Qualified Person under the
definition of National Instrument 43-101.
About Evrim Resources
Evrim Resources is a mineral exploration company whose goal is to participate in significant exploration discoveries
supported by a sustainable value generation model. The Company is well financed, has a diverse range of quality
projects and a database in Mexico and portions of southwestern United States. The existing projects, and generation
of quality exploration targets and ideas, are advanced through option and joint venture agreements with industry
partners to create shareholder value. Evrim’s business plan also includes royalty creation utilizing the Company’s
exploration expertise and existing projects.
On Behalf of the Board
EVRIM RESOURCES CORP.
Paddy Nicol
President & CEO
To find out more about Evrim Resources Corp., please contact Paddy Nicol , President or Charles Funk, VP New
Opportunities and Exploration at 604-248-8648, or visit www.evrimresources.com.
Forward Looking Information
This news release includes certain statements that may be deemed "forward looking statements". All statements in this news release, other
than statements of historical facts, that address events or developments that Evrim Resources Corp. (the "Company“) ex pects to occur, are
forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but no t always,
identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "proje cts", "potential" and similar expressions,
or that events or conditions "will", "would", "may", "could" or "should" occur.
Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such
statements are not guarantees of future performance and actual results may differ materially from those in the forward looking statements.
Factors that could cause the actual results to differ materially from those in forward looking statements include market prices, exploitation
and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors
are cautioned that any such statements are not guarantees of future performance and a ctual results or developments may differ materially
from those projected in the forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the
Company’s management on the date the statements are made. Except as required by securities laws, the Company undertakes no obligation
to update these forward looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.