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Mexican Gold Signs Definitive Agreement to Acquire Tatatila Project in Mexico
Vancouver, British Columbia--(Newsfile Corp. - October 1, 2025) - Mexican Gold Mining Corp. ...
About this update from Mexican Gold Mining Corp.
[{"type":"text","content":"Mexican Gold Signs Definitive Agreement to Acquire Tatatila Project in MexicoVancouver, British Columbia--(Newsfile Corp. - October 1, 2025) - Mexican Gold Mining Corp.  (TSXV: MEX) (OTCQB: MEXGF) (the \"Company\" or \"Mexican Gold\") is pleased to announce that the Company and its subsidiary, Roca Verde Exploración de México, S.A. de C.V. (\"Roca Verde\"), have entered into a mining concessions assignment agreement (the \"Assignment Agreement\") with Chesapeake Gold Corp. (\"Chesapeake\") and its subsidiaries Minerales El Prado, S.A. de C.V. (\"MEP\") and Chesapeake México, S.A. de C.V. (\"Chesapeake Mexico\"). Pursuant to the Assignment Agreement, the Company shall acquire 100% of the title and interest (the \"Interest\") in and to certain mineral titles, and the rights derived therefrom, covering an aggregate of 3,824.3585 hectares known as the Tatatila Project in Veracruz State, Mexico (see Figure 1). Figure 1: Tatatila Mining Concessions (shaded in blue)To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/11437/268617_b786a052c4aa8a29_002full.jpgThe Tatatila concessions surround Mexican Gold's Las Minas Project. Several skarn prospects, including possible extensions of the Las Minas existing resource, have been discovered on the Tatatila Project by Chesapeake.In exchange for the Interest, the Company shall issue Chesapeake an aggregate of 4,451,361 common shares of the Company (the “Consideration Shares”), each issued at a deemed value of $0.05 for an aggregate deemed value of $222,568. Once issued, the Consideration Shares will represent 14.99% of the total issued and outstanding common shares of the Company. As further consideration for the Interest, the Company shall grant to Chesapeake Mexico a net smelter returns royalty (\"Royalty\") in an amount equivalent to 1.5%. The Company shall have a buy-back option on the Royalty that provides Roca Verde with the right to purchase 0.5% of the Royalty from Chesapeake Mexico for US$500,000 during the 10 years following the date of execution of the Assignment Agreement, which would reduce the Royalty to 1%. All Consideration Shares will be subject to a statutory hold period of four months from the date of issuance in accordance with applicable Canadian securities legislation. In addition, the C...