Minaurum Announces Option with Fortuna Silver

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[{"type":"text","content":"Minaurum Announces Option with Fortuna SilverVancouver, British Columbia--(Newsfile Corp. - January 7, 2021) - Minaurum Gold Inc. (TSXV: MGG) (OTCQX: MMRGF) (\"Minaurum\") is pleased to announce that Minaurum and its wholly-owned subsidiary Minera Minaurum Gold, S.A. de C.V (\"MGG\"), along with Fortuna Silver Mines Inc. (NYSE: FSM) (\"Fortuna\") and Fortuna's wholly-owned subsidiary Compania Minera Cuzcatlan S.A. de C.V. (\"CMC\"), have entered into an option agreement, pursuant to which CMC can earn up to an 80% interest in MGG's Taviche silver project in Oaxaca, Mexico (\"Taviche\").Under the terms of the option agreement, CMC can initially earn a 60% interest (the \"Initial Interest\") in the project by making cash payments totaling US$450,000 and incurring US$4M in work expenditures over three years. Upon earning the Initial Interest, Fortuna can then earn an additional 20% interest for a total 80% interest in the project by funding Minaurum 's acquisition by way of option exercise of the remaining 20% interest. Upon CMC acquiring the Initial Interest, the parties will form a joint venture, pursuant to which Minaurum will retain a 20% interest which shall be carried until a positive construction decision is made, which is supported by a mineral resource calculation in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects and a Preliminary Economic Assessment. \"We are excited to be partnering with Fortuna at the Taviche Silver project,\" stated Darrell Rader, President and CEO of Minaurum. \"This agreement allows us to retain an interest in Taviche's advancement while still maintaining control over our core assets. We look forward to updating the market as Fortuna unlocks the potential upside of the Taviche project.\" Under the terms of the option agreement, CMC will act as the operator of the project however all budgets, activities and programs during the option period will be managed by a technical committee consisting of two representatives of Fortuna and one representative of Minaurum. If a positive construction decision is not made within seven years of the date of the option agreement, Minaurum will have the option, exercisable for a period of 60-days, to purchase CMC's interest in the project in exchange for a cash payment equal to Fortuna's work expenditures to date.Option Schedule ...

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