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Mirasol Signs Letter Of Intent to Option its Virginia Silver Project in Argentina
Mirasol Signs Letter Of Intent to Option its Virginia Silver Project in Argentina ...
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[{"type":"text","content":"\n\n\n\nMirasol Signs Letter Of Intent to Option its Virginia Silver Project in Argentina\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.prngen2{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: TOP; BORDER-BOTTOM:black 1pt solid; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prngen3{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: TOP; BORDER-BOTTOM:black 0pt; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prnsbt0{\nBORDER-TOP:0pt\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnsbl0{\nBORDER-LEFT:0pt\n}\n.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Feb. 27, 2020\n\n\n\nVANCOUVER, Feb. 27, 2020 /CNW/ - Mirasol Resources Ltd. (TSX-V: MRZ) (OTCPK: MRZLF) (the \"Company\" or \"Mirasol\") is pleased to announce the signing of a Letter of Intent (\"LOI\") with Golden Opportunity Resources Corp. (\"Golden Opportunity\") (CSE: GOOP) for its Virginia Silver project (the \"Project\") in the Santa Cruz Province of Argentina. With its known resource and clear exploration targets, the Project is a compelling asset for Golden Opportunity to further explore and advance.\nNorm Pitcher, President and CEO of Mirasol stated: \"We are pleased to partner with Golden Opportunity to see the exploration upside at Virginia drill tested. With this transaction, Mirasol will retain exposure to new discoveries through our right to earn a significant share position in Golden Opportunity and as a royalty holder.\"\nTerms of the Transaction\nMirasol shall grant Golden Opportunity the option to acquire 100% of the Project over 3 years by:\nMaking share issuances totalling 19.9% of the shares outstanding (the \"S/O\") of Golden Opportunity at the time of vesting: On signing of the definitive agreement: 9.9% of the S/O On first anniversary: 5% of the S/O On Second anniversary: 5% of the S/O On third anniversary: top up to 19.9% of the S/O (inclusive of the previous issuances)Completing US$6M in exploration expenditures Year 1: US$1M (firm commitment) Year 2: US$2M Year 3: US$3M ...