Day: April 1, 2019

A total of four transactions have resulted in eight properties and one subsidiary being sold and/or optioned for total consideration of US$2.1 million. The related properties include the Geisler Property, located in the Red Lake district of Ontario, the Faymar Property in Timmins, Ontario and the Santa Teresa Property, located in Baja, Mexico. The Company also entered into an option agreement for the sale of Goldstone Resources Limited, the subsidiary that holds the historic Northern Empire, Leitch and Sand River Mines, as well as other exploration-staged projects in the Beardmore, Ontario region.

For most of the quarter, the Company was focused on hurricane recovery at the La Trinidad mine in Mexico, and exploration and preconstruction activities at the San Albino project in Nicaragua.

Westminster Resources Ltd. announces that further to its news release dated February 15, 2019, the Company’s proposed private placement (the “Offering”) is continuing and an extension of 30 days to close the Offering has been granted by the TSX Venture Exchange.

The portfolio of 18 royalties being sold are all on assets not owned by Alamos. This includes a 2% NSR royalty on the El Realito property, adjacent to the La India mine in Sonora, Mexico and a 1.5% NSR royalty on the Wasamac project, and 1.0% NSR royalty on the Beaufor Mine, both located in Quebec, Canada. The majority of the remaining royalties being sold are on exploration stage properties.

Auxico would like to announce, effective immediately, the appointment of Joseph Lau to the board of directors. Mr. Lau is the founder and chairman of Rockhound Limited, a private company based in Hong Kong that was established in 2006 to serve the mineral resources, mining and exploration sectors. He has a B.Sc. (Chemistry) from Concordia University and an MBA from the University of Ottawa. Since returning to Hong Kong in 1994, Mr. Lau has served in senior executive positions in various industries, including financial services, real estate, telecommunications and retail jewelry. He is a member of the Chemical Institute of Canada and the Canadian Institute of Mining, Metallurgy and Petroleum.

Bacanora Lithium said it remained in active discussions with the sovereign wealth fund of the Sultanate of Oman, to conclude the proposed US$65M offtake agreement for the miner’s flagship Sonora Lithium Project in Mexico.

George Paspalas, President and CEO, commented, “The Juanicipio Joint Venture property continues to be the gift that keeps on giving. Discovering two new mineralized veins readily accessible from the underground workings we have been developing over the last 5 years, once again demonstrates Juanicipio’s exceptional mineral endowment. We are pleased with the progress we are making with our JV partner Fresnillo, finalizing construction and operating agreements, and look forward to commencing the process plant construction in the near term.