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”), a completely owned subsidiary of Fresnillo plc (“Fresnillo”) has paid US$171,000 to Geometales del Norte-Geonorte, S.A. de C.V. (“Geonorte”), a completely owned subsidiary of Radius Gold, beneath the phrases of the Exclusivity Settlement for the event of the Plata Verde mission in Chihuahua, Mexico (“Plata Verde”). This quantity has been utilized by Radius to fund funds pursuant to the underlying possibility agreements with the homeowners of Plata Verde’s mining concessions. A maiden drill program is anticipated at Plata Verde in Q1 2024.
Underneath 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 possibility settlement to earn a 70% curiosity in Plata Verde. Minera San Julian has the proper to increase its Exclusivity Interval for six further 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 mission, given some uncertainty over new Mexican mining laws which have delayed the beginning of drilling. With the final fee of the Exclusivity Settlement accomplished, Radius anticipates drilling will begin throughout the first months of 2024. Plata Verde is situated in a traditionally prolific silver mining district. The Plata Verde property has proven widespread silver mineralization in floor and underground rock chip sampling, glorious silver recoveries in preliminary metallurgical testing, and it has by no means been drill-tested. Our crew seems ahead to getting drills turning on this property within the near-term.”
Radius Gold Inc.
Radius has a portfolio of initiatives situated in Mexico and Guatemala which it continues to advance, using partnerships the place applicable to retain the Firm’s treasury. On the similar time, administration is in search of out further funding and mission acquisition alternatives throughout the globe. Radius is a member of the Gold Group of corporations, led by Simon Ridgway. You could discover extra data on Radius Gold at www.radiusgold.com or www.sedarplus.ca.
ON BEHALF OF THE BOARD
Simon Ridgway
Govt Chairman
Image: TSXV-RDU
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
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Web site: www.radiusgold.com
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Ahead-looking statements
Sure statements contained on this information launch represent forward-looking statements throughout the that means of Canadian securities laws. All statements included herein, aside from statements of historic reality, are forward- wanting statements and embody, with out limitation, statements about the Firm’s plans for its properties. Typically, however not at all times, these ahead wanting statements will be recognized by way of phrases similar to “estimate”, “estimates”, “estimated”, “potential”, “open”, “future”, “assumed”, “projected”, “used”, “detailed”, “has been”, “achieve”, “upgraded”, “offset”, “restricted”, “contained”, “reflecting”, “containing”, “remaining”, “to be”, “periodically”, or statements that occasions, “may” or “ought to” happen or be achieved and comparable expressions, together with damaging variations.
Ahead-looking statements contain recognized and unknown dangers, uncertainties and different elements which can trigger the precise outcomes, efficiency or achievements of the Firm to be materially completely different from any outcomes, efficiency or achievements expressed or implied by forward-looking statements. Such uncertainties and elements embody, amongst others, modifications normally financial situations and monetary markets; the Firm or any three way partnership associate not having the monetary potential to satisfy its exploration and growth targets; dangers related to the outcomes of exploration and growth actions, estimation of mineral sources and the geology, grade and continuity of mineral deposits; unanticipated prices and bills; and such different dangers detailed once in a while within the Firm’s quarterly and annual filings with securities regulators and accessible beneath the Firm’s profile on SEDAR+ at www.sedarplus.ca. Though the Firm has tried to establish essential elements that might trigger precise actions, occasions or outcomes to vary materially from these described in forward-looking statements, there could also be different elements that trigger actions, occasions or outcomes to vary from these anticipated, estimated or meant.
Ahead-looking statements contained herein are based mostly on the assumptions, beliefs, expectations and opinions of administration, together with however not restricted to: that the Firm’s acknowledged targets and the deliberate exploration and growth actions at its properties can be achieved; that there can be no materials adversarial change affecting the Firm or its properties; and such different assumptions as set out herein. Ahead-looking statements are made as of the date hereof and the Firm disclaims any obligation to replace any forward-looking statements, whether or not on account of new data, future occasions or outcomes or in any other case, besides as required by legislation. There will be no assurance that forward-looking statements will show to be correct, as precise outcomes and future occasions may differ materially from these anticipated in such statements. Accordingly, traders shouldn’t place undue reliance on forward-looking statements.
