Royalty assets organically created from
Evrim's generative exploration programs
VANCOUVER, BC, July 24, 2020 /CNW/ - (TSX-V:
EVM) Evrim Resources Corp. ("Evrim" or the "Company")
is pleased to announce that it has entered into an agreement with a
private Mexican company to sell two non-core exploration properties
in northwestern Mexico in exchange
for net smelter return royalties ("NSR"). Evrim will transfer
a 100% interest in the La Lola and Cumaro properties in exchange
for a respective 2% NSR and 1% NSR on any future production.
Evrim has also obtained a future right of a 0.5% NSR on 7,053
hectares of prospective ground known as the Picacho claims, should
the claims be acquired by the private Mexican company.
Half of the La Lola 2% NSR may be purchased for US$1.75 million, and half of the Cumaro 1% NSR
may be purchased for US$1.0
million.
About the La Lola Property
La Lola is a large 6,301-hectare land package located ten
kilometres southeast of the town of Esqueda, Sonora. The project covers the
La Barra vein, a five-kilometre
long manganiferous calcite-fluorite vein with elevated gold, silver
and mercury values in flexures along the strike of the vein.
Margins of the La Barra vein also
display lattice-bladed quartz after calcite. Collectively,
these features are indicative of the higher levels of an epithermal
vein system. Potential exists for a epithermal gold-silver
targets at depth none of which have been tested by drilling.
About the Cumaro Property
Cumaro is a 620-hectare claim located approximately 250
kilometres north of Hermosillo and
immediately adjacent to the Picacho mining district. Picacho
is a low sulphidation epithermal vein field that has been mined
intermittently through the 1800's and 1900's. The Cumaro
claim lies immediately south and east of the Picacho vein field and
displays kaolinite-silica-hematite alteration and quartz-calcite
veining on strike from the Picacho vein field. Cumaro appears
to represent a less-eroded, higher level extension to the Picacho
vein field.
Qualified Person Statement
Evrim's disclosure of technical and scientific information in
this news release has been reviewed by Dave
Groves, Vice President, Exploration for Evrim. Mr.
Groves is a Certified Professional Geologist (#11456) with the
American Institute of Professional Geologists and a Qualified
Person under the definition of National Instrument 43-101.
About Evrim Resources
Evrim Resources Corp. is a mineral exploration company who, on
June 10, 2020, announced a
merger-of-equals combination with Renaissance Gold, Inc. to form a
new royalty business named Orogen Royalties Inc. ("Orogen")
Orogen will focus on project generation as has been the history of
both Evrim and Renaissance but with a renewed focus on organic
royalty creation and royalty acquisition. Underpinning
Orogen's royalty portfolio is the Ermitaño West gold deposit in
Sonora, Mexico (2% NSR) being
developed by First Majestic Silver Corp. and planned to be in
production in 2021, and the Silicon gold project (1% NSR) in
Nevada, USA, being advanced by
AngloGold Ashanti SA. The transaction is expected to close
around August 18, 2020, subject to
shareholder and regulatory approval. Shareholders are
reminded to vote their securities at the Company's upcoming and
annual and special general meeting on August
12, 2020.
On Behalf of the Board
EVRIM RESOURCES
CORP.
Paddy Nicol
President &
CEO
To find out more about Evrim Resources Corp., please contact
Paddy Nicol, President & CEO at
604-248-8648, and Liliana Wong,
Manager of Marketing and Investor Relations at 604-248-8648.
Visit our website at www.evrimresources.com and www.rengold.com.
Forward Looking Information
This news release includes
certain statements that may be deemed "forward looking statements".
All statements in this presentation, other than statements of
historical facts, that address events or developments that Evrim
Resources Corp. (the "Company") expect to occur, are forward
looking statements. Forward looking statements are statements that
are not historical facts and are generally, but not always,
identified by the words "expects", "plans", "anticipates",
"believes", "intends", "estimates", "projects", "potential" and
similar expressions, or that events or conditions "will", "would",
"may", "could" or "should" occur.
Forward looking information relates to statements concerning the
Company's future outlook and anticipated events or results, as well
as the Company's management expectations with respect to the
proposed business combination (the "Transaction"). This document
also contains forward-looking statements regarding the anticipated
completion of the Transaction and timing thereof. Forward-looking
statements in this document are based on certain key expectations
and assumptions made by the Company, including expectations and
assumptions concerning the receipt, in a timely manner, of
regulatory and stock exchange approvals in respect of the
Transaction.
Although the Company believe the expectations expressed in such
forward looking statements are based on reasonable assumptions,
such statements are not guarantees of future performance and actual
results may differ materially from those in the forward looking
statements. Factors that could cause the actual results to differ
materially from those in forward looking statements include market
prices, exploitation and exploration successes, and continued
availability of capital and financing, and general economic, market
or business conditions. Furthermore, the extent to which
COVID-19 may impact the Company's business will depend on future
developments such as the geographic spread of the disease, the
duration of the outbreak, travel restrictions, physical distancing,
business closures or business disruptions, and the effectiveness of
actions taken in Canada and other
countries to contain and treat the disease. Although it is not
possible to reliably estimate the length or severity of these
developments and their financial impact as of the date of approval
of these condensed interim consolidated financial statements,
continuation of the prevailing conditions could have a significant
adverse impact on the Company's financial position and results of
operations for future periods.
Investors are cautioned that any such statements are not
guarantees of future performance and actual results or developments
may differ materially from those projected in the forward looking
statements. Forward looking statements are based on the beliefs,
estimates and opinions of the Company's management on the date the
statements are made. Except as required by securities laws, the
Company undertakes no obligation to update these forward looking
statements in the event that management's beliefs, estimates or
opinions, or other factors, should change.
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 release.
SOURCE Evrim Resources Corp.
