Gunpoint Exploration Limited (TSXV:GUN) announced its purchase of the Guatemala-based El Escorpion silver project.

As quoted in the press release:

Chesapeake’s Guatemalan subsidiary, Hunt Exploration S.A., has an option to acquire Escorpion by making payments to a private owner totalling US$351,000 over five years. Escorpion is subject to a 1.0% net smelter return (“NSR”) royalty, which can be purchased for US$585,000 at any time.

Click here for the Gunpoint Exploration Limited (TSXV:GUN) press release.