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AVINO GRANTS OPTION TO ENDURANCE GOLD TO ACQUIRE OLYMPIC CLAIMS; CONTINUES WITH STRATEGY OF DIVESTING OF NON-CORE ASSETS
AVINO GRANTS OPTION TO ENDURANCE GOLD TO ACQUIRE OLYMPIC CLAIMS; CONTINUES WITH STRATEGY ...
About this update from Avino Silver & Gold Mines Ltd.
[{"type":"text","content":"\n \n \n \n AVINO GRANTS OPTION TO ENDURANCE GOLD TO ACQUIRE OLYMPIC CLAIMS; CONTINUES WITH STRATEGY OF DIVESTING OF NON-CORE ASSETS\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n May 2, 2022\n \n \n /CNW/ -\n \n \n Avino Silver\n \n & Gold Mines Ltd.\n \n (TSX: ASM) (NYSE American: ASM) (FSE: GV6)\n \n (\"Avino\" or \"the Company\"),\n \n announced that in line with its strategic plans to become an intermediate producer in\n \n Mexico\n \n , the Company has granted Endurance Gold Corporation (EDG – TSX.V; ENDGF – OTC Pink; 3EG – Berlin Open Market, or \"Endurance\") the right to acquire an option to earn 100% ownership of the former\n \n Minto Gold Mine\n \n , Olympic and Kelvin gold prospects contained within a parcel of crown grants and mineral claims (the \"Olympic Claims\").\n \n \n The Olympic Claims are owned by Avino and are located on the north and south shores of BC Hydro's Carpenter Lake Reservoir in the Bridge River Valley, east of the Royal Shear trend.\n \n \n \"As part of Avino's ongoing plans and recent strategic acquisition of La Preciosa, our goal is to focus on expanding our current mining complex, and advancing towards intermediate producer status\", said\n \n David Wolfin\n \n , President and CEO of Avino. \"To divest of this non-core asset which has previously been inactive, allows us to transform quicker and emerge stronger by focusing on our core operations in\n \n Mexico\n \n .\"\n \n \n Under the terms of the letter agreement, Endurance can earn a 100% interest in the Olympic Claims if they pay Avino a total cash consideration in the aggregate amount of\n \n $100,000\n \n , issue up to a total of 1,500,000 common shares ('Shares') of Endurance and incur exploration expenditures in the aggregate amount of\n \n $300,000\n \n ; all of which is to be incurred by\n \n December 31, 2024\n \n .\n \n \n In the event that Endurance earns the 100% interest, the Olympic Claims will be subject to a 2% net smelter return royalty (\"NSR\"), of which...