November 16, 2023 – TheNewswire – Vancouver, British Columbia – Radius Gold Inc. (TSXV:RDU) (“Radius” or the “Firm”) is happy to announce that Minera San Julian, S.A. de C.V. (“Minera San Julian”), an entirely owned subsidiary of Fresnillo plc (“Fresnillo”) has paid US$171,000 to Geometales del Norte-Geonorte, S.A. de C.V. (“Geonorte”), an entirely owned subsidiary of Radius Gold, beneath the phrases of the Exclusivity Settlement for the event of the Plata Verde challenge in Chihuahua, Mexico (“Plata Verde”). This quantity has been utilized by Radius to fund funds pursuant to the underlying choice agreements with the house owners of Plata Verde’s mining concessions. A maiden drill program is anticipated at Plata Verde in Q1 2024.
Beneath the phrases of the Exclusivity Settlement between the businesses (see information launch July 19, 2023), Minera San Julian has an Exclusivity Interval to January 7, 2024 to barter a definitive settlement that would come with an choice settlement to earn a 70% curiosity in Plata Verde. Minera San Julian has the appropriate to increase its Exclusivity Interval for six extra months past January 7, 2024, by offering Geonorte a minimal of US$500,000 to begin drilling at Plata Verde. Such drilling shall be initiated inside 3 months following January 7, 2024.
Bruce Smith, Radius Gold President and CEO, commented: “We’re happy with Fresnillo’s, the world’s largest silver mining firm, continued dedication to the Plata Verde challenge, given some uncertainty over new Mexican mining rules which have delayed the beginning of drilling. With the final cost of the Exclusivity Settlement accomplished, Radius anticipates drilling will begin inside the first months of 2024. Plata Verde is positioned in a traditionally prolific silver mining district. The Plata Verde property has proven widespread silver mineralization in floor and underground rock chip sampling, wonderful silver recoveries in preliminary metallurgical testing, and it has by no means been drill-tested. Our group seems ahead to getting drills turning on this property within the near-term.”
Radius Gold Inc.
Radius has a portfolio of initiatives positioned in Mexico and Guatemala which it continues to advance, using partnerships the place applicable to retain the Firm’s treasury. On the identical time, administration is in search of out extra funding and challenge acquisition alternatives throughout the globe. Radius is a member of the Gold Group of corporations, led by Simon Ridgway. You might discover extra data on Radius Gold at www.radiusgold.com or www.sedarplus.ca.
ON BEHALF OF THE BOARD
Contact: Bruce Smith
200 Burrard Avenue, Suite 650
Vancouver, BC V6C 3L6
Tel: 604-801-5432; Toll free 1-888-627-9378; Fax: 604-662-8829
Web site: www.radiusgold.com
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