Evrim Resources creates two new gold royalties in Mexico Royalty assets organically created from Evrim's generative exploration programs
Evrim Resources creates two new gold
royalties in Mexico
Royalty assets organically created from Evrim's generative exploration programs
VANCOUVER, BC
,
July 24, 2020
/CNW/ - (TSX-V: EVM)
Evrim Resources Corp. ("Evrim" or the
"Company") is pleased to announce that it has entered into an agreement with a private Mexican
company to sell two non-core exploration properties in northwestern
Mexico
in exchange for net
smelter return royalties ("NSR"). Evrim will transfer a 100% interest in the La Lola and Cumaro
properties in exchange for a respective 2% NSR and 1% NSR on any future production. Evrim has
also obtained a future right of a 0.5% NSR on 7,053 hectares of prospective ground known as the
Picacho claims, should the claims be acquired by the private Mexican company.
Half of the La Lola 2% NSR may be purchased for
US$1.75 million
, and half of the Cumaro 1% NSR
may be purchased for
US$1.0 million
.
About the La Lola Property
La Lola is a large 6,301-hectare land package located ten kilometres southeast of the town of
Esqueda
, Sonora. The project covers the
La Barra
vein, a five-kilometre long manganiferous calcite-
fluorite vein with elevated gold, silver and mercury values in flexures along the strike of the vein.
Margins of the
La Barra
vein also display lattice-bladed quartz after calcite. Collectively, these
features are indicative of the higher levels of an epithermal vein system. Potential exists for a
epithermal gold-silver targets at depth none of which have been tested by drilling.
About the Cumaro Property
Cumaro is a 620-hectare claim located approximately 250 kilometres north of
Hermosillo
and
immediately adjacent to the Picacho mining district. Picacho is a low sulphidation epithermal vein
field that has been mined intermittently through the 1800's and 1900's. The Cumaro claim lies
immediately south and east of the Picacho vein field and displays kaolinite-silica-hematite alteration
and quartz-calcite veining on strike from the Picacho vein field. Cumaro appears to represent a less-
eroded, higher level extension to the Picacho vein field.
Qualified Person Statement
Evrim's disclosure of technical and scientific information in this news release has been reviewed by
Dave Groves
, Vice President, Exploration for Evrim. Mr. Groves is a Certified Professional
Geologist (#11456) with the American Institute of Professional Geologists and a Qualified Person
under the definition of National Instrument 43-101.
About Evrim Resources
Evrim Resources Corp. is a mineral exploration company who, on
June 10, 2020
, announced a
merger-of-equals combination with Renaissance Gold, Inc. to form a new royalty business named
Orogen Royalties Inc. ("Orogen") Orogen will focus on project generation as has been the history of
both Evrim and Renaissance but with a renewed focus on organic royalty creation and royalty
acquisition. Underpinning Orogen's royalty portfolio is the Ermitaño West gold deposit in
Sonora,
Mexico
(2% NSR) being developed by First Majestic Silver Corp. and planned to be in production in
2021, and the Silicon gold project (1% NSR) in
Nevada, USA
, being advanced by AngloGold Ashanti
SA. The transaction is expected to close around
August 18, 2020
, subject to shareholder and
regulatory approval. Shareholders are reminded to vote their securities at the Company's upcoming
and annual and special general meeting on
August 12
, 2020.
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 & CEO at
604-248-8648, and
Liliana Wong
, Manager of Marketing and Investor Relations at 604-248-8648.
Visit our website at
www.evrimresources.com
and
www.rengold.com
.
Forward Looking Information
This news release includes certain statements that may be deemed "forward looking statements".
All statements in this presentation, other than statements of historical facts, that address events or
developments that Evrim Resources Corp. (the "Company") expect to occur, are forward looking
statements. Forward looking statements are statements that are not historical facts and are
generally, but not always, identified by the words "expects", "plans", "anticipates", "believes",
"intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions
"will", "would", "may", "could" or "should" occur.
Forward looking information relates to statements concerning the Company's future outlook and
anticipated events or results, as well as the Company's management expectations with respect to
the proposed business combination (the "Transaction"). This document also contains forward-looking
statements regarding the anticipated completion of the Transaction and timing thereof. Forward-
looking statements in this document are based on certain key expectations and assumptions made
by the Company, including expectations and assumptions concerning the receipt, in a timely manner,
of regulatory and stock exchange approvals in respect of the Transaction.
Although the Company believe 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. Furthermore, the extent to which COVID-19 may
impact the Company's business will depend on future developments such as the geographic spread
of the disease, the duration of the outbreak, travel restrictions, physical distancing, business
closures or business disruptions, and the effectiveness of actions taken in
Canada
and other
countries to contain and treat the disease. Although it is not possible to reliably estimate the length
or severity of these developments and their financial impact as of the date of approval of these
condensed interim consolidated financial statements, continuation of the prevailing conditions could
have a significant adverse impact on the Company's financial position and results of operations for
future periods.
Investors are cautioned that any such statements are not guarantees of future performance and
actual 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.
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.
SOURCE
Evrim Resources Corp.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/July2020/24/c2309.html
%SEDAR: 00027260E
For further information:
Evrim Resources Corp., 1201 - 510 West Hastings Street, Vancouver,
BC, Canada V6B 1L8, [email protected]
CO: Evrim Resources Corp.
CNW 07:00e 24-JUL-20