Subsidiary of Coeur Mining, Inc. signs Definitive Agreement with Evrim Resources 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.
Subsidiary of Coeur Mining, Inc. signs Definitive Agreement with Evrim Resources
to option Sarape gold-silver project
Vancouver B.C. – June 18, 2018 : Evrim Resources Corp. (TSX.V:EVM) (“Evrim” or the “Company”) is pleased to
announce that further to its news release of February 20, 2018, the Company has signed a Definitive Agreement
(the “Agreement”) with a subsidiary of Coeur Mining, Inc. (“Coeur”) in respect of the Sarape epithermal gold-silver
project in Sonora, Mexico. Coeur will have the exclusive right to acquire up to an 80% interest in Sarape by spending
up to US$1 6.5 million on exploration, making staged cash payments of up to US$2.55 million, and completing a
National Instrument (“NI”) 43-101 compliant Feasibility Study on a minimum measure d and indicated resource
estimate of 1,000,000 ounces gold equivalent, all within a ten-year period.
Evrim’s President and CEO, Paddy Nicol, commented, “Sarape is located in an emerging epithermal gold belt hosting
several mines and deposits, including Premier Gold’s Mercedes Mine, First Majestic Silver ’s Santa Elena Mine, and
SilverCrest’s Las Chispas deposit. Evrim’s Ermitaño project, under option to First Majestic Silver, is also in the belt
where a maiden inferred resource of 40.8 million ounces silver equivalent* (562,000 ounces gold equivalent) was
recently announced (see First Majestic Silver news release of March 29, 2018) . We look forward to work ing with
Coeur’s team on Sarape and will commence exploration in late June.”
Transaction Terms
Coeur can earn the 80% interest in the Property by: (i) making cash payments totaling up to US$2.55 million over
ten years, of which the first year’s payment of US$100,000 is a firm commitment; (ii) completing exploration work
of up to US$16.5 million over ten years, of which the first year’s exploration work requirement of US$500,000 is a
firm commitment; and (iii) delivering a NI 43 -101 Feasibility Study on a minimum measured and indicated mineral
resource of 1,000,000 gold equivalent ounces (collectively, the “Option Conditions”). Additionally, in the event that
Coeur does complete a NI 43-101 Preliminary Economic Assessment (“PEA”) that contemplates a minimum resource
base of 1,000,000 gold equivalent ounces, and elects not to exercise the option, Coeur will be granted a 2.0% net
smelter royalty (“ NSR”) on minerals extracted from the Property . Evrim may purchase one -half of such NSR for
US$2.0 million.
Once Coeur has completed the Option Conditions and earned its 80% interest, it will continue to pay to Evrim
US$100,000 per year until mining and construction permits are received. Once the permits are received, Evrim may
elect to participate in the joint venture with a 20% equity interest, or convert its 20% interest into a 3 .0% NSR, of
which one-third can be purchased by Coeur for US$2.0 million.
Evrim will be the operator of 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 has defined two major veins (Figure 2): 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 veins contains barren white quartz and
calcite interpreted to be a late, shallow part of the 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 grams per tonne
(g/t) gold across sampled widths, with individual samples assaying up to 3.6 g/t gold.
Vein textures in this portion suggest they may represent the upper levels of a gold/silver bearing system with
bonanza grade targets in the boiling zone at depth. This setting is near identical to the outcropping veins at
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.
Ermitaño West (40 kilometres to the south) where Evrim ’s exploration partner First Majestic Silver discovered
bonanza grades 150 metres beneath low grade surface veins. Neither vein at Sarape has ever been drilled.
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.
*Note: Inferred resources of 40.8 million ounces silver equivalent were calculated by First Majestic with an average
grade of 4.0 grams per tonne ("g/t") gold and 68 g/t silver, or approximately 562,000 ounces gold equivalent, using
First Majestic's metal prices of US$1,450 per ounce gold and US$20 per ounce silver along with other assumptions
used in determining metal equivalent stated in its March 29, 2018 news release.
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 Donna Yoshimatsu at 416- 722-2456, or visit our website at
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 assumptio ns, 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.