Radius Gold Receives US$700,000 from Pan American Silver for Earn-in on Amalia Project, Mexico
news release
June 13, 2022
Radius Gold Receives US$700,000 from Pan American Silver for Earn-in on
Amalia Project, Mexico
Vancouver, British Columbia – Radius Gold Inc. (TSXV: RDU) (“Radius” or “the Company”) is pleased to
announce that in order to earn its option for 65% of the Amalia property in Mexico, Pan American Silver
Corp. (NASDAQ,TSX: PAAS) (“Pan American Silver”) has made the final US$700,000 option cash payment
to Radius Gold.
The terms of the definitive option agreement were announced in the Company’s press release dated July
30, 2018 . Among other commitments, Pan American Silver was required to make scheduled cash
payments in an aggregate amount of US$1.5 million during the expenditure period. Additionally, Pan
American Silver has met and exceeded its expenditure obligation of US$2.0 million in exploration on the
property.
Bruce Smith, President and CEO of Radius Gold , commented: “We are very pleased to continue to work
with our partner Pan American Silver . Partnering with P an American, one of the world ’s largest silver
miners, requires exploration targets to demonstrate significant scale. The Amalia project continues to
display the potential for a large scale gold silver discovery. Many high grade and wide gold/silver drill
intercepts have been reported for San Pedro, California and El Cuervo targets. Many targets remain open
in all directions and additional drilling is warranted. The US$700,000 payment reflects the satisfaction of
our partner in the results obtained from infill and evaluation dri lling programs. Radius looks forward to
continued drilling and resource development at Amalia in the future.”
The Agreement
Pursuant to an option agreement signed in June 2018, Pan American Silver Corp. has the option to earn
up to an initial 65% interest in the Amalia Project by making cash payments to Radius totalling US$1.5
million (of which US$ 800,000 has been previously received) and expending US$2 million on exploration
over four years. Pan American may earn an additional 10% by advancing th e property to preliminary
feasibility.
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PDAC
Radius Gold is attending PDAC from June 13 through 15 in Toronto, Ontario.
Senior management will be available at the booth No. 2107 for any questions. If you would like to arrange
one-on-one meetings with Radius Gold’s President and CEO , Bruce Smith, please email your request to
For more information and/or to register for the convention, please
visit: https://www.pdac.ca/convention.
Technical Information
Bruce Smith, M.Sc. (Geology), a member of the Australian Institute of Geoscientists, is Radius's 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 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 additional investment and project acquisition opportunities
across the globe.
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 of 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 Amalia Project. Often, but not always, these forward looking statements can be identified by the use of
words such as “estimate”, “estimates”, “estimated”, “potential”, “open”, “future”, “assumed”, “projected”, “used”,
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“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.
Forward-looking statements involve known and unknown risks, uncertainties 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 factors
include, among others, whether the planned exploration work at Amalia will proceed as intended; changes in
general economic conditions a nd 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 S EDAR 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, the re 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 exploration work at the Amalia Project will advance as planned;
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.