Western Metallica Announces Extension of Sierra Alta Option Agreement
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Western Metallica Announces Extension of
Sierra Alta Option Agreement
TORONTO, ONTARIO – June 30, 2022 – Western Metallica Resources Corp. (TSXV:
WMS) (“Western Metallica ” or the “ Company”) is pleas ed to announce that it has
entered into an amendment (the “ Extension”) to the option agreement (the “ Option
Agreement”) between its wholly owned subsidiary, Western Metallica Corp., and Emerita
Resources Corp. (“Emerita”) dated May 4, 2020 pursuant to which Western Metallica
holds an option to acquire 55% of the Sierra Alta Gold Project (the “Sierra Alta Project”)
in the “Navelgas Gold Belt” in Asturias , Spain. Pursuant to the Extension, the Company
shall earn a 55% interest in the Sierra Alta Project upon, among other things, issuance to
Emerita of 786,632 common shares of the Company immediately upon receiving approval
thereof from the TSX Venture Exchange (the “ Exchange”) and the Company spending
at least $500,000 in mineral exploration expenditures on the Sierra Alta Project prior to
December 31, 2022. The Company shall obtain approval of the Exchange prior to issuing
common shares to Emerita and incurring mineral exploration expenditures on the Sierra
Alta Project under the Option Agreement.
The acquisition of the interest pursuant to the Option Agreement is a Non-Arm’s Length
Transaction under the policies of the Exchange as the CEO of the Company acts as the
CFO of Emerita and a director of the Company is a director of Emerita.
About Western Metallica Resources Corp.
Western Metallica is a British Columbia company with its head office in Toronto, Ontario.
Western Metallica is in the business of mineral resource exploration and development. Its
principal asset is its 100% owned Penedela Gold Property in the “Navelgas Gold Belt” in
Asturias, Spain. Western Metallica also has an interest in two other Spanish gold projects
in the “Navelgas Gold Belt” in Asturias (Valledor and Sierra Alta) and one project located
in Andalucia (Nueva Celti).
Further information of the Company can be found at: www.westernmetallica.com
Contact
CEO and Director, Gregory Duras: [email protected]
or
Investor Relations: [email protected]
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Cautionary Note Regarding Forward-Looking Information
This news release contains forward -looking information that involves substantial
known and unknown risks and uncertainties, most of which are beyond the control
of Western Metallica Corp. Forward looking statements include statements
regarding the acquisition of an interest in the S ierra Alta Project and the timing
thereof and approval of the Exchange . Such statements are subject to risks and
uncertainties that may cause actual results, performance or developments to differ
materially from those contained in the statements, including risks related to factors
beyond the control of the Company. Although Western Metallica Corp. believes that
the assumptions and factors used in preparing the forward -looking information in
this news release are reasonable, undue reliance should not be plac ed on such
information, which only applies as of the date of this news release, and no
assurance can be given that such events will occur in the disclosed time frames or
at all. Western Metallica Corp. disclaims any intention or obligation to update or
revise any forward -looking information, whether as a result of new information,
future events or otherwise, other than as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in policies of the TSX Ventur e Exchange) accepts responsibility for the
adequacy or accuracy of this release.
This News Release contains forward-looking statements. In some cases, you can identify
forward-looking statements by terminology such as "may", "should", "expects", "plans",
"anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative
of these terms or other comparable terminology. These statements are only predictions
and involve known and unknown risks, uncertainties and other factors that may cause our
or our industry's actual results, levels of activity, performance or achievements to be
materially different from any future results, levels of activity, performance or achievements
expressed or implied by these forward-looking statements.
Although the Company believes that the assumptions and factors used in preparing the
forward-looking information in this news release are reasonable, undue reliance should
not be placed on such information, which only applies as of the date of this news release.
The Company disclaims any intention or obligation to update or revise any forward -
looking information, whether as a result of new information, future events or otherwise,
other than as required by law.