(TheNewswire)
November 16, 2023 – TheNewswire - Vancouver, British Columbia – Radius Gold Inc. (TSXV:RDU)(“Radius” or the “Company”) is pleased to announce that Minera San Julian, S.A. de C.V. (“Minera SanJulian”), a wholly owned subsidiary of Fresnillo plc(“Fresnillo”) has paid US$171,000 to Geometales delNorte-Geonorte, S.A. de C.V. (“Geonorte”), a wholly ownedsubsidiary of Radius Gold, under the terms ofthe Exclusivity Agreement for the development of the Plata Verdeproject in Chihuahua, Mexico (“Plata Verde”). This amount has been used by Radius to fund payments pursuant tothe underlying option agreements with the owners of Plata Verde’smining concessions. A maiden drill program is anticipated at PlataVerde in Q1 2024.
Under the terms of the Exclusivity Agreement betweenthe companies (see news release July 19, 2023), Minera San Julian hasan Exclusivity Period to January 7, 2024 to negotiate a definitiveagreement that would include an option agreement to earn a 70%interest in Plata Verde. Minera San Julian has the right to extendits Exclusivity Period for 6 additional months beyond January 7, 2024,by providing Geonorte a minimum of US$500,000 to commence drilling atPlata Verde. Such drilling shall be initiated within 3 monthsfollowing January 7, 2024.
Bruce Smith, Radius Gold Presidentand CEO, commented: “We are pleased with Fresnillo’s, theworld’s largest silver mining company, continued commitment to thePlata Verde project, given some uncertainty over new Mexican miningregulations which have delayed the start of drilling . With the lastpayment of the Exclusivity Agreement completed, Radius anticipatesdrilling will start withinthe first months of 2024. Plata Verde is located in a historicallyprolific silver mining district. The Plata Verde property has shownwidespread silver mineralization in surface and underground rock chipsampling, excellent silver recoveries in initial metallurgicaltesting, and it has never been drill-tested. Our team looks forwardto getting drills turning on this property in thenear-term.”
Radius Gold Inc.
Radius has a portfolio of projects located in Mexicoand Guatemala which it continues to advance, utilizing partnershipswhere appropriate to retain the Company’s treasury. At the sametime, management is seeking out additional investment and projectacquisition opportunities across the globe. Radius is a member ofthe Gold Group of companies, led by Simon Ridgway. You may find moreinformation on Radius Gold at www.radiusgold.com or www.sedarplus.ca .
ON BEHALF OF THE BOARD
Simon Ridgway
Executive Chairman
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: info@goldgroup.com
Website: www.radiusgold.com
Neither the TSX Venture Exchange nor its Regulation ServicesProvider (as that term is defined in the policies of the TSX VentureExchange) acceptsresponsibility for the adequacy or accuracy of this release.
Forward-looking statements
Certain statements contained in this news release constituteforward-looking statements within the meaning of Canadian securitieslegislation. All statements included herein, other than statements ofhistorical fact, are forward- looking statements and include, withoutlimitation, statements about the Company’s plans forits properties . Often, but not always, these forward lookingstatements can be identified by the use of words such as“estimate”, “estimates”, “estimated”, “potential”,“open”, “future”, “assumed”, “projected”, “used”,“detailed”, “has been”, “gain”, “upgraded”,“offset”, “limited”, “contained”, “reflecting”,“containing”, “remaining”, “to be”, “periodically”, orstatements that events, “could” or “should” occur or beachieved 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 differentfrom any results, performance or achievements expressed or implied byforward-looking statements. Such uncertainties and factors include,among others, changes in general economic conditions and financialmarkets; the Company or any joint venture partner not having thefinancial ability to meet its exploration and development goals; risksassociated with the results of exploration and development activities,estimation of mineral resources and the geology, grade and continuityof mineral deposits; unanticipated costs and expenses; and such otherrisks detailed from time to time in the Company’s quarterly andannual filings with securities regulators and available under theCompany’s profile on SEDAR+ at www.sedarplus.ca. Although the Company has attempted to identify importantfactors that could cause actual actions, events or results to differmaterially from those described in forward-looking statements, theremay be other factors that cause actions, events or results to differfrom those anticipated, estimated or intended.
Forward-looking statements contained herein are based on theassumptions, beliefs, expectations and opinions of management,including but not limited to: that the Company’s stated goals andthe planned exploration and development activities at its propertieswill be achieved; that there will be no material adverse changeaffecting the Company or its properties; and such other assumptions asset out herein. Forward-looking statements are made as of the datehereof and the Company disclaims any obligation to update anyforward-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 proveto be accurate, as actual results and future events could differmaterially from those anticipated in such statements. Accordingly,investors should not place undue reliance on forward-lookingstatements.
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