Questcorp Mining Signs Letter of Intent to Acquire Interest in La Union Project, Sonora, Mexico

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[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - September 6, 2024) - Questcorp Mining Inc. (CSE: QQQ) (FSE: D910) (the \"Company\" or \"Questcorp\") is pleased to announce that it has entered into a letter of intent (the \"Letter of Intent\"), dated effective September 4, 2024, with Riverside Resources Inc. (TSXV: RRI) (\"Riverside\"), an arms-length party, whereby the Company will be granted an option (the \"Transaction\") to acquire a one-hundred percent (100%) interest in the La Union project (the \"Project\") located in Sonora, Mexico. In accordance with the terms of the Transaction, the Company can acquire a one-hundred percent (100%) interest in the Project in consideration for completion of a series of cash payments totaling $100,000, the issuance of 19.9% of the outstanding common shares of the Company, and the incurrence of no less than $5,500,000 of exploration expenditures on the Project, as follows: Deadline Cash Payment Share Issuance Exploration Expenditures Entering into Letter of Intent (Paid) $12,500 Nil N/A Closing of the Transaction $12,500 *9.9% N/A First Anniversary of Closing Nil *14.9% $1,000,000 Second Anniversary of Closing $25,000 *19.9% $1,250,000 Third Anniversary of Closing $25,000 *19.9% $1,500,000 Fourth Anniversary of Closing $25,000 *19.9% $1,750,000 Total $100,000 **19.9% $5,500,000 *Expressed as a cumulative total percentage of the undiluted issued and outstanding common shares of the Company as of the applicable payment date, and assuming Riverside has not previously disposed of any common shares.**Assuming the required share issuance was completed as of the date of this release, and not including any shares issued in connection with the Concurrent Financing or any further share issuances, the Company would be required to issue approximately 3,730,000 common shares. \"La Union represents an excellent opportunity to acquire a significant asset as we continue work to build shareholder value in the Company,\" commented Questcorp. President & CEO, Saf Dhillon. \"We are extremely pleased to team up with the expertise of John-Mark Staude and the Riverside technical team to unlock the full potential of the La Union project,\" he continued. La Union project has high grades of gold (highlight grab samples of 83.2 and 59.4 g/t) and of zinc (highlight grab samples of 30% and 21.4%) with previous unde...

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