Radius Gold extends exclusivity agreement at Plata Verde
news release
April 12, 2023
Radius Gold extends exclusivity agreement at Plata Verde
Vancouver, British Columbia – Radius Gold Inc. (TSXV: RDU) (“Radius” or the “Company”) is pleased to
report progress from its Plata Verde Project, located in Chihuahua, Mexico.
In July 2022 Radius announced an Exclusivity Agreement (the "Agreement") with Minera San Julian, S.A.
de C.V. ("Minera San Julian"), a wholly owned subsidiary of Fresnillo plc, for Plata Verde Project in
Chihuahua, Mexico (see Radius’ news release of July 12, 2022). The Agreement granted Minera San Julian
an exclusive right for nine months to carry out evaluation and exploration activities in order to negotiate
an option agreement to earn a 70% interest in the project (the “ Option Agreement”). The Option
Agreement envisages Minera San Julian would commence drilling before 7 July 2023.
Radius Gold and Fresnillo ha ve agreed to extend the term of the Agreement for 3 months to allow for
the completion of the Option Agreement, without changing the date for planned drilling to commence.
The Agreement´s extension also includes that Minera San Julian will cover anticipated US$157,000 in
project costs to underlying concession holders , landowners and to continue with field work at the
project.
Fresnillo has made significant advances at Plata Verde in the last 9 months completing:
• Upgrading and re-habilitation of road access in preparation for drill access.
• Initial metallurgical test work which demonstrated exceptional cyanide leach recoveries
averaging 93% for silver and in combination with flotation achieving 97% silver recovery (see
Radius’ news release of January 30, 2023).
• Geological mapping and rock chip sampling of the property with 470 samples collected. Results
are pending for the last batch and will be published on receipt.
• Negotiations with landowners for drill access.
Bruce Smith, President & CEO, states: “We are pleased with the progress at Plata Verde and look forward
to completing the Option Agreement with Fresnillo and moving on to drill test the compelling targets
promptly.”
Plata Verde Target Summary
Radius geologists in January 2020 re -discovered an undocumented large scale underground bulk mining
operation that is estimated to have occurred in the late 1800's. Historic miners had hand excavated an
extensive series of anastomosing caverns and produced silver bars at an associated smelter operatio n.
The project appears to be un-explored since the miners ceased their operations.
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Silver mineralization occurs as massive to crustiform banded silica, calcite and barite with silver chlorides,
sulphosalt minerals and native silver infilling and cementing fractures and breccia within a
basaltic/andesite extrusive volcanic. The host volcanics and associated silver mineralization is covered by
overlying rhyolitic ignimbrites and is only exposed along the length of a small creek. The mining
excavations define a strike extension of over 500m and up to 100m wide. The host volcanic unit is at least
60m thick. Silver mineralization appears to be a late -stage low temperature mineralizing event with
extensions of the known mineralization, source and feeder systems , making it an attractive exploration
target.
Technical Information
Bruce Smith, M.Sc. (Geology), a member of the Australian Institute of Geoscientists, is Radius’ Qualified
Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Smith
has reviewed and approved the technical information contained in this news release.
Radius Gold Inc.
Radius has a portfolio of projects located in Mexico, United States and Guatemala which it continues to
advance, utilizing partnerships where appropriate in order to retain the Company’s strong treasury. At
the same time, management is seeking out additio nal investment and project acquisition opportunities
across the globe. Radius is a member of the Gold Group of companies, led by Simon Ridgway.
ON BEHALF OF THE BOARD
Bruce Smith
President and CEO
Symbol: TSXV-RDU
Contact: Bruce Smith
200 Burrard Street, Suite 650
Vancouver, BC V6C 3L6
Tel: 604-801-5432; Toll free 1-888-627-9378; Fax: 604-662-8829
Email: [email protected]
Website: www.radiusgold.com
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization o f Canada accepts
responsibility for the adequacy or accuracy of this release.
Forward-looking statements
Certain statements contained in this news release constitute forward -looking statements within the meaning of
Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward-
looking statements and include, without limitation, statements about the results of exploration work and future
plans at the Company’s projects. Often, but not always, t hese forward looking statements can be identified by the
use of words such as “estimate”, “estimates”, “estimated”, “potential”, “open”, “future”, “assumed”, “projected”,
“used”, “detailed”, “has been”, “gain”, “upgraded”, “offset”, “limited”, “contained”, “reflecting”, “containing”,
“remaining”, “to be”, “periodically”, or statements that events, “could” or “should” occur or be achieved and similar
expressions, including negative variations.
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Forward-looking statements involve known and unknown risks, unce rtainties and other factors which may cause
the actual results, performance or achievements of the Company to be materially different from any results,
performance or achievements expressed or implied by forward -looking statements. Such uncertainties and f actors
include, among others, whether the planned exploration work at the Company’s projects will proceed as intended;
changes in general economic conditions and financial markets; the Company or any joint venture partner not having
the financial ability to meet its exploration and development goals; risks associated with the results of exploration
and development activities, estimation of mineral resources and the geology, grade and continuity of mineral
deposits; unanticipated costs and expenses; and such other risks detailed from time to time in the Company’s
quarterly and annual filings with securities regulators and available under the Company’s profile on SEDAR at
www.sedar.com. Although the Company has attempted to identify important factors that could cause actual
actions, events or results to differ materially from those described in forward -looking statements, there may be
other factors that cause actions, events or results to differ from those anticipated, estimated or intended.
Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of
management, including but not limited to: that the Company’s stated goals and the planned exploration and
development activities at its properties will be achieved; that there will be no material adverse change affecting the
Company or its properties; and such other assumptions as set out herein. Forward -looking statements are made as
of the date hereof and the Company disclaims any obligation to update any forward-looking statements, whether as
a result of new information, future events or results or otherwise, except as required by law. There can be no
assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on
forward-looking statements.