Pantera Silver Signs Definitive Agreement to Acquire Silver Exploration Assets in Bolivia
Pantera Silver Signs Definitive Agreement to
Acquire Silver Exploration Assets in Bolivia
Vancouver, British Columbia--(Newsfile Corp. - December 3, 2024) -
Pantera Silver Corp. (TSXV:
PNTR)
("
Pantera
" or the "
Company
") is pleased to announce it has entered into a definitive agreement
which provides to the Company the exclusive right and option (the "Option") to acquire a 100% interest
in three (3) mineral claims consisting of 17,975 hectares, collectively known as the Rakanco Project (the
"Project" or the "Rakanco
Project"), located in the Mejillones and Sabaya Provinces, Oruro Department
in southwest Bolivia.
Mr. Jay Roberge, President and CEO of Pantera Silver Corp. states, "
Bolivia is renowned for its vast
silver deposits, and the Rakanco Project is situated in a region with a rich history of silver
mineralization, including the historical Todos Santos mine and the newly discovered Carangas
deposit. We believe the Rakanco Project is an under-explored region of Bolivia with exceptional
geological potential for us to achieve our key objective of making a world-class silver discovery.
Rakanco adds accretive value to our portfolio and aligns with our corporate strategy of growing a
silver-focused portfolio that creates value for our company, our shareholders and the communities we
work with. We are deeply grateful for the opportunity to enter Bolivia's exploration landscape and look
forward to collaborating closely with our partners and local communities".
About the Rakanco Project
The Rakanco Project consists of 17,975 hectares over three concessions (individually the Fahed, Rakan
and Nada concessions) located in the Mejillones and Sabaya Provinces of Oruro Department, in the
southwest of Bolivia. The Property spans two municipal districts, Todos Santos and Carangas, and is
strategically situated for prospecting, exploration, and future exploitation activities. Each mineral claim
holds a Prospecting and Exploration License (PEL), valid for a five-year period, ensuring a secure
operational framework for mineral exploration and development, including exploration drilling. In addition
to the historical Todos Santos mine, the Rakanco Project is located adjacent to known silver
occurrences, including the recently defined Carangas deposit operated by New Pacific Metals Corp.
which has an estimated "Total indicated mineral resource of 214.9 million tonnes ("Mt") containing 205.3
million ounces ("Mozs") of Silver ("Ag"), 1,588.2 thousand ounces ("Kozs") of gold ("Au"), 1,444.9 million
pounds ("Mlbs") of lead ("Pb"), 2,653.7 Mlbs of zinc ("Zn"), and 112.6 Mlbs of copper ("Cu"); or
collectively 559.8 Mozs silver equivalent ("AgEq")". * (Source: New Pacific Metals Corp. website:
"Carangas Project / Mineral Resources / See Highlights)
Transaction Highlights
Consideration
: Under the terms of the Agreement, Pantera can earn a 100% interest in the Rakanco
Project by making cash payments totaling $470,000 USD, issuing 2.9 million common shares and
commit to exploration expenditures totaling $1,275,000 USD over a four (4) year period, as follows.
CASH
(USD)
SHARES
(TSXV.PNTR)
WORK COMMITMENT
(USD)
YEAR 1
$40,000
500,000
$75,000
YEAR 2
$50,000
600,000
$200,000
YEAR 3
$75,000
800,000
$400,000
YEAR 4
$305,000
1,000,000
$600,000
TOTAL
$470,000
2,900,000
$1,275,000
Of the first-year cash payment of $40,000 USD outlined above, the Company has already paid $20,000
USD with the balance of due within 15 days after closing.
Property Map
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5998/232250_41945052841cda24_001full.jpg
Ownership Transfer:
Upon fulfilling the cash payments, share issuances and exploration work
commitments, Pantera will secure 100% ownership and control of the Rakanco mineral concessions.
NSR Royalty:
Upon completion of all contractual obligations, the Vendors will retain a 2% Net Smelter
Return Royalty (NSRR), with Pantera retaining the option to purchase one half of the NSRR for $2.5
million USD. For further clarity, a 1% NSRR can be purchased by Pantera for $2.5 million USD, leaving
the Vendors with a residual 1% NSRR.
Milestone Payment:
Additional compensation is added for a milestone achievement of a favorable
Preliminary Economic Assessment ("PEA"). PNTR has five (5) years to complete a PEA at which time
the Vendor will receive $1,250,000 USD in cash and 1,250,000 common shares of PNTR.
Initial Exploration Work
The Company's initial exploration work will include but not be limited to the consolidation of historical
exploration data, rock and regolith sampling, mapping and airborne geophysical and LiDAR surveying
on the Property. Further detail regarding the geological significance of the Property will be disclosed
once the historical exploration data is consolidated. The objective of this initial exploration work is to
identify and prioritize potential exploration drill targets. Further detail and planned work program
timelines will be disclosed in due course in addition to exploration work on the Company's current Nuevo
Taxco Silver project located near the municipality of Taxco, Mexico.
Qualified Person and NI 43-101 Disclosure
Dr. Thomas A. Henricksen, C. P. Geo (California), a "Qualified Person" (as defined by NI 43-101 -
Standards for Disclosure for Mineral Projects) and a senior consulting geologist to the Company, has
reviewed and approved the technical disclosures in this news release.
The Company strictly adheres to
CIM Best Practices Guidelines in preparing for and conducting, documenting, and reporting the
exploration activities on its projects.
About Pantera Silver Corp.
Pantera Silver Corp. is a mineral exploration and development company committed to enhancing
shareholder value by advancing a diverse portfolio of mineral projects through collaborative partnerships
and highly experienced technical teams. Pantera will continue to seek out and secure high-quality,
unencumbered projects through research, staking and strategic acquisitions. Throughout the process,
our mission is to help maintain prosperous communities by exploring for and discovering resource
opportunities that build lasting relationships through honest and respectful business and environmental
practices while contributing to the growing needs of mined raw materials for a new green economy.
On behalf of the Board of Directors
"Jay Roberge"
CEO/Chairman
Pantera Silver Corp.
http://www.panterasilver.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains "forward looking statements" within the meaning of applicable Canadian
securities legislation. Forward looking statements are necessarily based upon a number of estimates
and assumptions that, while considered reasonable by management, are inherently subject to
significant business, economic and competitive uncertainties and contingencies. Forward looking
statements involve known and unknown risks, uncertainties and other factors that may cause actual
financial results, performance or achievements to be materially different from the estimated future
results, performance or achievements expressed or implied by those forward-looking statements and
the forward-looking statements are not guarantees of future performance. Pantera Silver Corp
disclaims any obligation to update or revise any forward-looking statements, whether as a result of new
information, events or otherwise, except as required by law.
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