Mirasol Signs MOU for the Sale of the Virginia Silver Project and Landholdings in Argentina for US$8 Million Plus 2% NSR Royalty
Ampere Metals to acquire Virginia Project for a total consideration of US$ 8.0 million: US$5 million for the sale of the mineral rights and US$3 million for the sale of the landholdings over 5 years of scheduled payments
Mirasol will retain a 2% NSR Royalty with the unilateral right to sell to Ampere Metals for a minimum of US$ 2.0 million
Virginia hosts an Indicated Resource of 11.7 million ounces at 357 g/t silver and Inferred Resource of 7.9 million ounces at 184 g/t silver
Mineralization remains open along strike and at depth
Numerous vein prospects outside and proximal to the Resource remain untested
Drill ready targets fully permitted
VANCOUVER, British Columbia, June 16, 2025 (GLOBE NEWSWIRE) -- Mirasol Resources Ltd. (TSX-V: MRZ) (OTC: MRZLF) (the "Company" or "Mirasol") is pleased to report the signing of a Memorandum of Understanding ("MOU") under which Mirasol grants Ampere Metals Pty. Ltd. ("Ampere Metals") an exclusive right to enter into a definitive agreement (the "Definitive Agreement") to acquire the mineral rights and landholdings within Mirasol's 100% owned Virginia Silver Project ("Virginia" or the "Deposit") located in the Santa Cruz Province, Argentina.
Discovered by Mirasol in 2009, Virginia hosts a high-grade, intermediate sulfidation epithermal style mineralization in a series of prominent outcropping vein-breccias. An updated Resource Estimate (the "Resource") is contained within a series of nine outcropping veins hosting high-grade silver mineralization, constrained within conceptual pits, with an indicated mineral resource of 11.7 million ounces of silver at 357 g/t silver and a further inferred mineral resource of 7.9 million ounces of silver at 184 g/t silver (news release November 9, 2023).
"The sale of our Virginia Silver Project represents the first major achievement of our ongoing business development initiative and demonstrates the potential of our highly prospective, yet undervalued, portfolio of projects in Argentina and Chile," Mirasol's President Tim Heenan stated. "The payments of US$8 million over the next five years will contribute to our ongoing exploration on our flagship Sobek Project and the remaining royalty will create significant value to Mirasol shareholders as the Resource at Virginia continue to expand."
Terms of the Virginia MOU
Under the terms of the MOU, Mirasol shall grant Ampere Metals the exclusive rights to enter into a definitive agreement to acquire the Virginia Project for total consideration of US$8 million, comprising: US$5 million of for the sale of approximately 68,000 hectares of mineral rights; and US$3 million for the sale of approximately 37,000 hectares of associated landholdings and infrastructure as well as the associated tenements assets related to Virginia by making scheduled payments over 5 years.
Milestone 1 - Signing Definitive Agreement (US$ 4.0 million over 4 years):
US$ 50,000 on signing the MOU
US$ 600,000 on signing Definitive Agreement
US$ 600,000 six months ...
