Latin Metals Amends Agreement for 100% Ownership of Drill-Ready Cerro Bayo Silver-Gold Project, Santa Cruz Province, Argentina

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[{"type":"text","content":"Latin Metals Amends Agreement for 100% Ownership of Drill-Ready Cerro Bayo Silver-Gold Project, Santa Cruz Province, Argentina\n\n\n\n VANCOUVER, British Columbia, June 25, 2025 (GLOBE NEWSWIRE) --\n \n Latin Metals Inc.\n \n (\"\n \n Latin Metals\n \n \" or the \"\n \n Company\n \n \") -\n \n (TSXV: LMS)\n \n\n (OTCQB: LMSQF)\n \n is pleased to announce that it has entered into an amending agreement (the \"\n \n Amended Agreement\n \n \") to complete acquisition of 100% of the Cerro Bayo and La Flora Properties (\"\n \n Cerro Bayo\n \n \"), located in Santa Cruz Province, Argentina. This follows the receipt of drill permits earlier this year, positioning Cerro Bayo as a fully permitted, drill-ready silver-gold exploration asset in one of South America’s premier mining jurisdictions.\n \n\n\n Renegotiated Terms to Secure 100% Ownership\n \n\n\n Under an option agreement with Tres Cerros Exploraciones S.R.L. (“\n \n TCE\n \n ”), Latin Metals previously vested a 71% interest in Cerro Bayo (see previous news release,\n \n November 6, 2024\n \n ). Under the terms of the Amended Agreement, the Company has agreed to purchase the remaining 29% (aggregate 100%) on the following revised terms:\n \n\n\n Total consideration of US$400,000, payable in three tranches:\n \n\n\n US$100,000 on or before June 30, 2025\n \n\n US$150,000 on or before June 30, 2026\n \n\n US$150,000 on or before June 30, 2027\n \n\n\n\n TCE retains a 0.75% Net Smelter Return (NSR) royalty\n \n\n Latin Metals holds a buyback right on 0.5% of the NSR for US$1 million\n \n\n\n The Amended Agreement revises the previous option consideration of US$753,000 due in May 2025 for 80% and an optional top-up amount of US$800,000 due to be paid in September 2025 for the remaining 20%. The Amended Agreement is a purchase agreement, and payment of the US$400,000 consideration is an irrevocable commitment. The requirement to deliver an NI 43-101 report to Tres Cerros has been eliminated.\n \n\n\n “This amended agreement is a win-win for TCE and Latin Metals. TCE has secured committed payments over 24 months, whereas Latin Metals has reduced near-term capital demands, providing the Company with greater flexibility to structure a future partner earn-in agreement,”\n \n stated Keith Henderson, President & CEO.\n \n “Cerro Bayo is full...

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