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Latin Metals Inc. (LMS.V)

TSXV - TSXV Real Time Price. Currency in CAD
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0.1650-0.0200 (-10.81%)
At close: 3:30PM EDT
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Previous Close0.1850
Open0.1550
Bid0.1500 x N/A
Ask0.1950 x N/A
Day's Range0.1500 - 0.1650
52 Week Range0.0550 - 0.2400
Volume103,500
Avg. Volume30,658
Market Cap7.723M
Beta (5Y Monthly)1.79
PE Ratio (TTM)N/A
EPS (TTM)-0.0070
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • Latin Metals Delineates Priority Copper Targets at the Lacsha Project, Peru
    GlobeNewswire

    Latin Metals Delineates Priority Copper Targets at the Lacsha Project, Peru

    Figure 1 Stream sediment sampling results from Lacsha showing copper (left) and molybdenum (right), highlighting the 5.0 km by 2.5 km copper-molybdenumgeochemical anomalies. Figure 2 Northern portion of the Cretaceous coastal belt (Lima-Ica segment) showing the location of Latin Metals' Lacsha and Auquis projects as well as known deposits. VANCOUVER, British Columbia, April 07, 2021 (GLOBE NEWSWIRE) -- Latin Metals Inc. ("Latin Metals" or the "Company") (TSXV: LMS) (OTCQB: LMSQF) provides an update on exploration at the Company's 100%-owned Lacsha copper property ("Lacsha" or the "Project") located in the Peruvian Coastal Copper Belt. Stream sediment sampling results further confirm the existence of copper mineralization at Lacsha and helps delineate priority areas for follow-up. Lacsha Stream Sediment and Rock Sampling Phase I exploration at the 4,000-hectare Lacsha property was initiated in January 2021 with initial rock sampling, which identified outcropping copper mineralization ranging from 110 ppm up to 6,410 ppm and molybdenum ranging from 1.5 ppm up to 86.8 ppm. The sampling and historical work defined a total area of 5.0 km by 2.5 km with anomalous copper and pathfinder elements. Phase II work included 34 stream sediment samples designed to screen the entire property and additional rock sampling and mapping. Results of the stream sediment survey has confirmed the existence of a core 5.0 km by 2.5 km copper-molybdenum anomaly with multi-element support (Figure 1). Within this large geochemical anomaly, there appears to be at least two mineralized centers. Results for rock sampling have not yet been received. Next Steps Phase III exploration has begun and will be completed in early Q2. Ongoing work includes two areas of detailed talus sampling, which cover the two mineralized centers with approximately 100 samples, as well as continued mapping and rock sampling. On completion and once results are available, it is expected that geophysical surveying will commence aiming to define drill targets for testing during 2021. Social and Community Prior to commencing Phase II exploration, the Company signed an agreement with the local community, under the terms of which the Company has permission to complete all necessary surface exploration to define drill targets, at which time an additional agreement will be required. Under the terms of the current community agreement, the Company is assisting the community with materials for an irrigation project. Coastal Copper Belt The Coastal Copper Belt in Peru is a Cretaceous belt hosting various deposit types, including porphyry, epithermal, VMS and IOCG. Latin Metals' 100%-owned Lacsha copper-molybdenum and Auquis copper-gold projects are located in the northern Lima-Ica portion of the coastal belt (Figure 2). The Lacsha Project is located approximately 110 km by road from Lima, 40 km from the coast, and is accessible year-round by paved road. The Project was acquired by staking based on the results of historical multi-element geochemistry. The Lacsha claims lie immediately south and contiguous with Newmont Corporation's Sumacwayra copper-molybdenum property. Figure 1: Stream sediment sampling results from Lacsha showing copper (left) and molybdenum (right), highlighting the 5.0 km by 2.5 km copper-molybdenum geochemical anomalies is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ec5639cb-a0d9-485e-ba9e-78ac7caeb72c. About Lacsha Copper Property The 4,000-hectare property was acquired by staking in 2020 (news release August 4, 2020). Verification of altered and mineralized outcrop at surface confirms the Company’s exploration model. Property geology is dominated by tonalite pluton intruded by various granitic bodies up to 1 km length cut by monzonitic and diorite dykes with dominant north to northeast orientation. The area is largely covered by recent quaternary material of approximately 1 m in thickness obscuring much of the outcrop. There is significant potential for additional altered and mineralized rock to be discovered beneath this thin cover. Alteration mapped at surface is dominated by epidote as veinlets cutting the intrusive rocks and chlorite-magnetite replacing mafic minerals. Mineralization is related to oxidation of disseminated sulfides and quartz-copper oxide zones up to 2 m thick. Figure 2: Northern portion of the Cretaceous coastal belt (Lima-Ica segment) showing the location of Latin Metals' Lacsha and Auquis projects as well as known deposits is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/58cef461-773c-45d5-a82a-7ec5ac26a13f. QA/QC The work program at Lacsha was designed and supervised by Eduardo Leon, the Company's Exploration Manager, who is responsible for all aspects of the work, including the quality control/quality assurance program. On-site personnel at the project rigorously collect and track samples which are then security sealed and shipped to the ALS laboratory in Lima. Samples used for the results described herein are prepared and analyzed by multi-element analysis using an inductively coupled mass spectrometer in compliance with industry standards. Qualified Person The technical content of this release has been approved for disclosure by Keith J. Henderson P.Geo, a Qualified Person as defined by NI 43-101 and the Company's CEO. Mr. Henderson is not independent of the Company, as he is an employee of the Company and holds securities of the Company. About Latin Metals Latin Metals is a mineral exploration company acquiring a diversified portfolio of assets in South America. The Company operates with a Prospect Generator model focusing on the acquisition of prospective exploration properties at minimum cost, completing initial evaluation through cost-effective exploration to establish drill targets, and ultimately securing joint venture partners to fund drilling and advanced exploration. Shareholders gain exposure to the upside of a significant discovery without the dilution associated with funding the highest-risk drill-based exploration. On Behalf of the Board of Directors of LATIN METALS INC. "Keith Henderson" President & CEO For further details on the Company readers are referred to the Company's web site (www.latin-metals.com) and its Canadian regulatory filings on SEDAR at www.sedar.com. For further information, please contact: Keith Henderson Suite 23001177 West Hastings StreetVancouver, BC, V6E 2K3 Phone: 604-638-3456E-mail: info@latin-metals.com Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. Cautionary Note Regarding Forward-Looking Statements This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the negotiation of the Option Agreements and exercise of the Option for the Properties, the anticipated content, commencement, timing and cost of exploration programs in respect of the Properties and otherwise, anticipated exploration program results from exploration activities, and the Company's expectation that it will be able to enter into agreements to acquire interests in additional mineral properties, the discovery and delineation of mineral deposits/resources/reserves on the Properties, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward looking information can be identified by words such as "pro forma", "plans", "expects", "may", "should", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", "potential" or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, market fundamentals will result in sustained precious metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future development of the Company's Argentine projects in a timely manner, the availability of financing on suitable terms for the development, construction and continued operation of the Company projects, and the Company's ability to comply with environmental, health and safety laws. 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 differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks and other factors include, among others, operating and technical difficulties in connection with mineral exploration and development and mine development activities at the Properties, including the geological mapping, prospecting and sampling programs being proposed for the Properties (the "Programs"), actual results of exploration activities, including the Programs, estimation or realization of mineral reserves and mineral resources, the timing and amount of estimated future production, costs of production, capital expenditures, the costs and timing of the development of new deposits, the availability of a sufficient supply of water and other materials, requirements for additional capital, future prices of precious metals and copper, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, possible variations in ore grade or recovery rates, possible failures of plants, equipment or processes to operate as anticipated, accidents, labour disputes and other risks of the mining industry, delays or the inability of the Company to obtain any necessary permits, consents or authorizations required, including TSX-V acceptance for filing of the Option Agreements, any current or future property acquisitions, financing or other planned activities, changes in laws, regulations and policies affecting mining operations, hedging practices, currency fluctuations, title disputes or claims limitations on insurance coverage and the timing and possible outcome of pending litigation, environmental issues and liabilities, risks related to joint venture operations, and risks related to the integration of acquisitions, as well as those factors discussed under the heading "Risk Factors" in the Company's latest Management Discussion and Analysis and other filings of the Company with the Canadian Securities Authorities, copies of which can be found under the Company's profile on the SEDAR website at www.sedar.com. Readers are cautioned not to place undue reliance on forward looking statements. Except as otherwise required by law, the Company undertakes no obligation to update any of the forward-looking information in this news release or incorporated by reference herein.

  • Patagonia Exercises Option to Acquire Latin Metals’ Mina Angela Project, Chubut Province, Argentina
    GlobeNewswire

    Patagonia Exercises Option to Acquire Latin Metals’ Mina Angela Project, Chubut Province, Argentina

    VANCOUVER, British Columbia, March 15, 2021 (GLOBE NEWSWIRE) -- Latin Metals Inc. (“Latin Metals” or the “Company”) - (TSXV: LMS) (OTCQB: LMSQF) announces that it has received an option exercise notice from Patagonia Gold Corp. (“Patagonia”), pursuant to an option agreement (the “Option Agreement”) among Patagonia, Latin Metals and an Argentine subsidiary of Latin Metals, whereby Patagonia was granted an irrevocable option (the “Option”) to acquire a 100% interest in the Mina Angela project (the “Project” or “Mina Angela”), located in the Province of Chubut, Argentina. In connection with exercise of the Option, Patagonia (through its subsidiary) will make a cash payment to Latin Metals of US$250,000 pursuant to the terms of the Option Agreement, which payment is due on or before March 26, 2021 (Table 1). Pursuant to the terms of the Option Agreement, Latin Metals will be entitled to receive a 1.25% net smelter returns royalty (“Royalty”) from future production on the Project, half of which Royalty can be repurchased by Patagonia from Latin Metals at any time for US$1 million. Table 1: Schedule of Commercial Terms Schedule of PaymentsCash PaymentsRoyalty PaymentsCumulative Earned InterestWithin ten days from acceptance of the Offer LetterUS$40,000 (paid)---- Additional payment as consideration for extension of the due diligence periodUS$50,000 (paid)---- Advance on First Option PaymentUS$50,000 (paid)---- First Option Payment - Upon signing Option Agreement – September 12, 2020US$200,000 (paid)---- Second Option Payment – Upon exercise of the Option – due on or before March 26, 2021US$250,000--100%Final Payment1US$500,000--100%Commencement of Production at the Project--1.25% NSR Royalty100% Notes:1. Within thirty (30) days from the lifting of the Chubut Province mining bans in such a manner that Patagonia thereafter has the ability to perform exploration and exploitation mining activities on the Project, irrespective of whether Patagonia has obtained the required permits for such exploration and mining activities or the actual performance of such activities. “Patagonia’s purchase of Mina Angela is consistent with Latin Metals’ strategy to joint venture core assets and where possible to monetize non-core assets, like Mina Angela, while keeping a retained royalty interest, in this case a 1.25% Royalty,” stated Keith Henderson, Latin Metals’ President and CEO. “Receipt of US$250,000, together with a contingent future payment of US$500,000 will conclude the US$1,090,000 disposition of the Mina Angela asset. We would like to wish Patagonia’s management team every success in moving the project forward.” About the Mina Angela Property The Mina Angela property is situated in the Somuncura Massif of southern Argentina and is comprised of 44 individual claims located approximately 50 km east-southeast of Patagonia’s 100% owned Calcatreu gold project. The Navidad silver and base metal deposit is located 45 km further to the south-southeast of Mina Angela. About Patagonia Gold Patagonia Gold Corp. is a mining and development company listed on the TSX Venture Exchange. The Company seeks to grow shareholder value through exploration and development of gold and silver projects in the Patagonia region of Argentina. The Company is primarily focused on the Calcatreu project in Rio Negro and the development of the Cap-Oeste underground project. Patagonia, indirectly through its subsidiaries or under option agreements, has mineral rights to over 360 properties in several provinces of Argentina and Chile and is one of the largest landholders in the Province of Santa Cruz, Argentina. About Latin Metals Latin Metals is a mineral exploration company with a diversified portfolio of gold and copper exploration assets in South America. The Company operates with an investor-focused Prospect Generator model, which brings potential advantages to shareholders such as exposure to multiple exploration projects reducing discovery risk. Most of the exploration expense could be borne by JV partners, potentially reducing dilution associated with funding ongoing exploration activities. The Company’s project portfolio brings exposure to multiple commodities, reducing the impact associated with commodity price cycles. In all future property agreements, the Company intends to retain a minority interest across the portfolio, providing shareholders with exposure to potential discovery upside. Qualified Person Keith J. Henderson, P.Geo., is the Company's qualified person as defined by NI 43-101 and has reviewed the scientific and technical information that forms the basis for portions of this news release. He has approved the disclosure herein. Mr. Henderson is not independent of the Company, as he is an employee of the Company and holds securities of the Company. On Behalf of the Board of Directors of LATIN METALS INC. “Keith Henderson” President & CEO For further details on the Company readers are referred to the Company's web site (www.latin-metals.com) and its Canadian regulatory filings on SEDAR at www.sedar.com. For further information, please contact: Keith Henderson Suite 23001177 West Hastings StreetVancouver, BC, V6E 2K3 Phone: 604-638-3456E-mail: info@latin-metals.com Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. Cautionary Note Regarding Forward-Looking Statements This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the remaining Option payments payable by Patagonia to Latin Metals pursuant to the Option Agreement, the Company's expectation that it will be able to operate as a Prospect Generator by entering into agreements to acquire interests in additional mineral properties and attracting joint venture partners to fund drilling and conduct advanced exploration on its properties, the discovery and delineation of mineral deposits/resources/reserves on its properties, the anticipated results from exploration activities and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: "believes", "will", "expects", "anticipates", "intends", "estimates", "plans", "may", "should", "potential", "scheduled", or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that market fundamentals will result in sustained precious metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future development of the Company’s Argentine projects in a timely manner, including the lifting of restrictions preventing the development of mining activities at Mina Angela, the availability of financing on suitable terms for the development, construction and continued operation of the Company's projects, and the Company’s ability to comply with environmental, health and safety laws. 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 differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, actual results of exploration activities, that Patagonia will be satisfied with the lifting of the mining restrictions in the Chubut Province such that it makes the final Option payment to the Company, the inability of the Company to operate as a Prospect Generator and enter into agreements to acquire interests in additional mineral properties and attract joint venture partners for the exploration and development of same, operating and technical difficulties in connection with mineral exploration and development and mine development activities at the Company's mineral properties, the fact that the Company's interests in certain of its mineral properties are only options and there is no guarantee that the interests, if earned, will be certain, requirements for additional capital, future prices of precious metals, copper-gold and lithium, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, social and economic impacts of COVID‐19, other risks of the mining industry, the inability to obtain any necessary governmental and regulatory approvals (including TSX Venture Exchange acceptance for filing of any current or future property acquisitions or dispositions), financing or other planned activities, changes in laws, regulations and policies affecting mining operations, hedging practices and currency fluctuations, title disputes or claims limitations on insurance coverage and the timing and possible outcome of pending litigation, environmental issues and liabilities, risks related to joint venture operations, and risks related to the integration of acquisitions, as well as those factors discussed under the heading "Risks and Uncertainties" in the Company's most recent management's discussion and analysis and other filings of the Company with the Canadian Securities Authorities, copies of which can be found under the Company's profile on the SEDAR website at www.sedar.com. Readers are cautioned not to place undue reliance on forward-looking statements. Except as otherwise required by law, the Company undertakes no obligation to update any of the forward-looking information in this news release or incorporated by reference herein.

  • Latin Metals Options Out Esperanza Copper Gold Project, San Juan Province, Argentina
    GlobeNewswire

    Latin Metals Options Out Esperanza Copper Gold Project, San Juan Province, Argentina

    Drilling Includes 166m Grading 0.84% Copper and 0.37 g/t Gold from Surface Figure 1 Interpreted east-west cross section through the Esperanza property highlighting priority target areas expected to be drill tested by Libero. The inset map shows the location of the cross section and drill hole 18-ESP-025 is highlighted (see Plate 1) Plate 1 Core photographs from drill hole 18-ESP-025, which intersected 387m grading 0.57% copper and 0.27 g/t gold. Mineralization was intersected at surface and is open at depth. Photographs show intense potassic alteration; quartz-chalcopyrite vein stockwork, K-feldspar and secondary biotite. VANCOUVER, British Columbia, Jan. 26, 2021 (GLOBE NEWSWIRE) -- (“Latin Metals” or the “Company”) - (TSXV: LMS) (OTCQB: LMSQF) announces that it has signed a letter agreement (the “Agreement”) with Libero Copper and Gold Corporation (“Libero”) (TSXV: LBC), pursuant to which and subject to TSX Venture Exchange ("TSXV") acceptance, Libero has been granted an option (the “Option”) to acquire a 70% interest in the Esperanza copper gold project (“Esperanza” or the “Project”) located in San Juan Province, Argentina. In order to exercise the Option, Libero will be required to make cash payments in the aggregate of US$2,403,000 and incur exploration expenditures on the Project of at least US$2,000,000 within approximately 2 years, as detailed in Table 1 below. “We are happy to enter into this Agreement with Libero and look forward to the commencement of drill testing in due course,” stated Keith Henderson, Latin Metals’ President and CEO. “Consistent with the Company’s prospect generator model, this transaction includes funding of substantial payments to the underlying owner, cash payments to Latin Metals and significant exploration expenditure commitments. If the option is completed, Latin Metals will retain a 30% minority interest in the Esperanza copper-gold project, which has confirmed copper-gold endowment and past drilling results up to 387m grading 0.57% copper and 0.27 g/t gold from surface.” Commercial Terms To exercise the Option, Libero will (i) assume responsibility for the funding of outstanding cash payments due to the underlying Project vendors pursuant to the underlying option agreement in the aggregate amount of US$1,903,000 (see news dated July 9, 2018), (ii) make cash payments to Latin Metals in the aggregate amount of US$500,000, and (iii) incur exploration expenditures of at least US$2,000,000 on the Project (see Table 1). Table 1: Libero Option Terms DateAssumed PaymentsDue under UnderlyingOption Agreement(USD)Cash Payments toLatin Metals(USD)Exploration Expenditures on theProject(USD)June 15, 2021$300,000 December 15, 2021$500,000$250,000$1,000,000December 15, 2022$1,103,000$250,000$1,000,000Total:$1,903,000$500,000$2,000,000 Upon the exercise of the Option, Libero and Latin Metals will be deemed to have formed a joint venture for the continued exploration and development of the Project, in respect of which the initial participating interests of the parties shall be Libero as to 70%, and Latin Metals as to 30%. During the term of the Agreement before the exercise of the Option, if either Libero or Latin Metals acquires an interest in a property (the “Additional Property”) located within or partially within the Project or a 10 km area of interest extending from the outermost exterior boundaries of the Project, the non-acquiring party may elect that such Additional Property be included in the Project, in which case the non-acquiring party would be required to reimburse the acquiring party for 70% (Libero) or 30% (Latin Metals) of the acquisition costs of such Additional Property, as applicable. A finder’s fee (the “Finder’s Fee”) of up to 555,000 common shares in the capital of Latin Metals (each, a “Finder’s Share”) is payable to Vector Geological Solutions Inc. in connection with the Agreement. The Finder’s Fee is subject to TSXV acceptance, and any Finder’s Shares issued will be subject to a four month and one day hold period in Canada from the date of issuance. Esperanza Project The Project is a copper-gold porphyry exploration project with epithermal gold mineralization located laterally to the east. The copper-gold porphyry system is exposed at surface with a pyrite halo exposed over an area of 1,400m x 850m. Esperanza has confirmed copper endowment within a multi-phase magmatic hydrothermal system. Historical exploration includes diamond drilling, rock and silt sampling, IP, and magnetic geophysics. Rock sampling at surface has defined copper and gold mineralization over much of the Project. Drill hole 18-ESP-025, completed by Latin Metals in 2018, returned the best results to date with 387m grading 0.57% copper and 0.27 g/t gold, including 166m grading 0.84% copper and 0.37 g/t gold from surface (true width unknown) (Figure 1, Plate 1). Mineralization is open at depth and laterally, with priority targets located west and south. There are multiple drill-ready, untested targets. The Project is road accessible and located in San Juan Province which is considered to be a mining-friendly jurisdiction in Argentina. QA/QC Drilling completed by Latin Metals was supervised by on site personnel at the Project who rigorously collected and tracked samples, which were then sealed and shipped to SGS Minerals (“SGS”) for analysis. SGS's quality system complies with the requirements for the International Standards ISO 9001:2000 and ISO 17025: 1999. Analytical accuracy and precision were monitored by the analysis of reagent blanks, reference material and replicate samples. Quality control is further assured by the use of international and in-house standards. Blind certified reference material was inserted at regular intervals into the sample sequence by Latin Metals’ personnel to independently assess analytical accuracy. Qualified Person The technical content of this release has been approved for disclosure by Keith J. Henderson P.Geo, a Qualified Person as defined by NI 43-101 and the Company’s CEO. Mr. Henderson is not independent of the Company, as he is an employee of the Company and holds securities of the Company. About Latin Metals Latin Metals is a mineral exploration company acquiring a diversified portfolio of assets in South America. The Company operates with a Prospect Generator model focusing on the acquisition of prospective exploration properties at minimum cost, completing initial evaluation through cost-effective exploration to establish drill targets, and ultimately securing joint venture partners to fund drilling and advanced exploration. Shareholders gain exposure to the upside of a significant discovery without the dilution associated with funding the highest-risk drill-based exploration. On Behalf of the Board of Directors of LATIN METALS INC. “Keith Henderson” President & CEO For further details on the Company readers are referred to the Company’s web site (www.latin-metals.com) and its Canadian regulatory filings on SEDAR at www.sedar.com. For further information, please contact: Keith Henderson Suite 23001177 West Hastings StreetVancouver, BC, V6E 2K3 Phone: 604-638-3456E-mail: info@latin-metals.com Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. Cautionary Note Regarding Forward-Looking Statements This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the exercise of the Option, the issuance of the Finder’s Shares, the anticipated content, commencement, timing and cost of exploration programs in respect of the Project and otherwise, anticipated exploration program results from exploration activities, and the Company's expectation that it will be able to enter into agreements to acquire interests in additional mineral properties, the discovery and delineation of mineral deposits/resources/reserves on the Project, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward looking information can be identified by words such as "pro forma", "plans", "expects", "may", "should", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", "potential" or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, market fundamentals will result in sustained precious metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future development of the Company’s Argentine projects in a timely manner, the availability of financing on suitable terms for the development, construction and continued operation of the Company projects, and the Company’s ability to comply with environmental, health and safety laws. 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 differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks and other factors include, among others, the fact that the Company’s interests in the Project is only an option and there is no guarantee that the interest, if earned, will be certain, operating and technical difficulties in connection with mineral exploration and development and mine development activities at the Company’s properties, including the geological mapping, prospecting and sampling programs being proposed for the such properties (the "Programs"), actual results of exploration activities, including the Programs, estimation or realization of mineral reserves and mineral resources, the timing and amount of estimated future production, costs of production, capital expenditures, the costs and timing of the development of new deposits, the availability of a sufficient supply of water and other materials, requirements for additional capital, future prices of precious metals and copper, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, possible variations in ore grade or recovery rates, possible failures of plants, equipment or processes to operate as anticipated, accidents, labour disputes, social and economic impacts of COVID-19, and other risks of the mining industry, delays or the inability of the Company to obtain any necessary permits, consents or authorizations required, (including TSXV acceptance for filing of the Agreement and the finder’s fee), any current or future property acquisitions, financing or other planned activities, changes in laws, regulations and policies affecting mining operations, hedging practices, currency fluctuations, title disputes or claims limitations on insurance coverage and the timing and possible outcome of pending litigation, environmental issues and liabilities, risks related to joint venture operations, and risks related to the integration of acquisitions, as well as those factors discussed under the heading "Risk Factors" in the Company's latest Management Discussion and Analysis and other filings of the Company with the Canadian Securities Authorities, copies of which can be found under the Company's profile on the SEDAR website at www.sedar.com. Readers are cautioned not to place undue reliance on forward looking statements. Except as otherwise required by law, the Company undertakes no obligation to update any of the forward-looking information in this news release or incorporated by reference herein. Photos accompanying this announcement are available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/a15904a0-8a31-4c81-9eab-5fdc09b9af4f https://www.globenewswire.com/NewsRoom/AttachmentNg/b80cba0a-f735-4727-84a3-572466c39a92