Commodities
Tier One Silver Signs Letter of Intent to Option 70% of Compañía Minera Ruta De Cobre, S.A., Holder of Copper-Molybdenum Project, Ecuador
Vancouver, British Columbia--(Newsfile Corp. - June 30, 2026) - Tier One Silver Inc. (TSXV: TSLV) (OTCQB: TSLVF) (FSE: TOV0) ("Tier One" or the "Company") is pleased to announce that on June 28, 2026 it entered into a letter of intent (the "LOI") to conditionally acquire a 70% controlling interest in a private Ecuadorian mining company, Compañía Minera Ruta de Cobre S.A. ("RDC Project Co"). RDC Project Co owns three mineral concessions in Azuay Province, Ecuador, on which a large...
About this update from Tier One Silver, Inc.
Vancouver, British Columbia--(Newsfile Corp. - June 30, 2026) - Tier One Silver Inc. (TSXV: TSLV) (OTCQB: TSLVF) (FSE: TOV0) ("Tier One" or the "Company") is pleased to announce that on June 28, 2026 it entered into a letter of intent (the "LOI") to conditionally acquire a 70% controlling interest in a private Ecuadorian mining company, Compañía Minera Ruta de Cobre S.A. ("RDC Project Co"). RDC Project Co owns three mineral concessions in Azuay Province, Ecuador, on which a large copper-molybdenum porphyry deposit is located (the "RDC Project"), as determined based on 135,162 meters of diamond drilling completed from 2014 to 2021, with the deepest hole drilled to 688 meters. About the 70% RDC Project Co Option Pursuant to the LOI, Tier One would acquire the right to purchase 70% of the currently issued shares in RDC Project Co (the "Control Shares") from two arms-length shareholders and their spouses (collectively, the "Sellers"). The LOI contemplates that the parties will seek to complete their ongoing negotiations and execute a binding legal agreement (the "Definitive Agreement") within 21 days, which agreement will reflect the commercial terms described in this news release. While the parties are currently in advanced negotiations to finalize the Definitive Agreement, no assurances can be given that they will ultimately be able to reach a mutually acceptable Definitive Agreement or, if signed, that its conditions for completion, principally financing and regulatory approval, can be met. The total purchase price payable by Tier One for all of the Control Shares is US$39.4 million (the "Purchase Price") with the right to purchase also being subject to certain work requirements described below. The Purchase Price (all $ herein are USD) is payable in instalments as follows:
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