Agnico Eagle Purchases Chipriona Royalty from Sonoro
AGNICO EAGLE PURCHASES CHIPRIONA ROYALTY FROM SONORO
VANCOUVER, Canada, January 2, 2020, Sonoro Metals Corp ., (TSXV: SMO | OTCQB: SMOFF | FRA: 23SP),
(“Sonoro” or the “Company”), announces receipt of proceeds of $875,000 by Sonoro’s subsidiary, Minera Mar
de Plata, S.A. de C.V., from the sale to Agnico Sonoro, S.A. de C.V., a subsidiary of Agnico Eagle Mines Limited
(“Agnico”), of the 1% Net Smelter Returns royalty ( the “Royalty”) on the Chipriona property located in the
Mulatos Mining District in Sonora, Mexico. The Royal ty originated from the sale of the Chipriona proper ty to
Agnico in December 2016 for $4,000,000 plus the Royalty. Concurrent with the sale of the Chipriona property,
Agnico was granted an option to purchase the Royalty at any time for $1.5 million.
“We are pleased to sell the Chipriona Royalty to Agnico,” said Kenneth MacLeod, President and CEO of Sonoro.
“The $875,000 cash injection into Sonoro’s treasury without any resulting share dilution provides greater value
at this time versus waiting until Chipriona is placed into production at some indeterminate time in the future.
The proceeds will be primarily allocated toward the upcoming Phase III drill program at the Cerro Cali che
project in Mexico.”
Sonoro acquired the Cerro Caliche project in 2018 a nd conducted a two-phase reverse-circulation drilli ng
program during 2018 and 2019, with a total of 10,328 meters drilled and assayed during that period. A total of
96 drill holes were completed for an average drill hole length of 107.6 meters, all inclined. The combination of
historic and current exploration drilling now total s 23,679 meters in 212 drill holes in addition to mo re than
6,000 surface samples.
The Phase III drilling program, which is expected to take approximately 6 months, is planned to include stepout
drilling to extend the strike lengths of the known mineralized zones within the Central and Western re gions,
specifically the Japoneses, Chinos NW, Buena Suerte, Abejas, Cuervos and El Colorado zones. The Japoneses
and Cabeza Blanca zones in particular are both expected to extend along their respective strikes by at least 100
meters to the north. Infill drilling is also planne d for these zones in part to support a more complet e block
model, while their respective gold grades and depth potential is further explored.
Diamond drilling is planned to test the Veta de Oro, La Espanola, Cuervos and Guadalupe/Cabeza Blanca zones,
where previous scout holes reported intervals of high-grade vein gold mineralization.
To view more information on the ongoing preparatory work program for the Phase III drill program, please click
here: https://bit.ly/2MIGaIX or visit the Sonoro website at www.sonorometals.com .
Stephen Kenwood, P. Geo., a director of Sonoro, is a Qualified Person within the meaning of National
Instrument 43-101 and has read and approved this news release. Readers are cautioned that the presence of
mineralization on historic mines adjacent to or on Cerro Caliche is not necessarily indicative of gold
mineralization in the concessions held by the Company.
About Sonoro Metals Corp.
Sonoro Metals Corp. is a publicly listed exploration and development company with a portfolio of exploration-
stage precious metal properties in Sonora State, Mexico. The Company has highly experienced operational and
management teams with proven track records for the discovery and development of natural resource deposits.
On behalf of the Board of SONORO METALS CORP.
Per: “Kenneth MacLeod”
KENNETH MACLEOD
President & CEO
For further information, please contact:
Sonoro Metals Corp. – Kenneth MacLeod, President & CEO
Phone: (604) 632-1764
Email: [email protected]
Forward-Looking Statement Cautions:
This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating
to, among other things, the Company's plans for the drilling of the above-described Cerro Caliche Conc essions, located in the
municipality of Cucurpe, Sonora, Mexico, and the Company’s future exploration plans for those properties. Although the Company
believes that such statements are reasonable based on current circumstances, it can give no assurance that such expectations will
prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always,
identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal,"
"objective," "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should"
occur, or are those statements, which, by their nat ure, refer to future events. The Company cautions t hat forward-looking
statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made
and they involve a number of risks and uncertainties, including the possibility of unfavourable interim exploration results, the lack
of sufficient future financing to carry out explora tion plans, and unanticipated changes in the legal, regulatory and permitting
requirements for the Company’s exploration programs. There can be no assurance that such statements will prove to be accurate,
as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should
not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise
any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law or
the policies of the TSX Venture Exchange. Readers are encouraged to review the Company’s complete public disclosure record on
SEDAR at www.sedar.com.
THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL, OR THE SOLICITATION OF AN OFFER TO BUY, NOR SHALL THERE
BE ANY SALE OF SECURITIES OF THE COMPANY IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD
BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accept responsibility for the adequacy or accuracy of this release.