Evrim Resources Corp. (TSXV:EVM) announced that it has signed a five-year option agreement with SilverCrest Mines Inc. (TSXV:SVL,NYSEMKT:SVLC).
Evrim Resources Corp. (TSXV:EVM) announced that it has signed a five-year option agreement with SilverCrest Mines Inc. (TSXV:SVL,NYSEMKT:SVLC). It allows SilverCrest to acquire a 100-percent interest in Evrim’s Mexico-based Cumobabi property.
As quoted in the press release:
SilverCrest can earn a 100% interest in Cumobabi by paying US$75,000 upon signing the Agreement and US$50,000 each anniversary thereafter, completing a minimum of US$500,000 in exploration expenditures by the second anniversary, and delivering a Production Notice specifying mine and construction plans with accompanying permits. Upon vesting, SilverCrest will no longer be required to make the annual payments and Evrim will retain a 1.5% Net Smelter Royalty (‘NSR’).
Paddy Nicol, president and CEO of Evrim, said:
SilverCrest’s acquisition of the Cumobabi project significantly consolidates SilverCrest’s land position in the greater Cumobabi district. When combined with the recently acquired Ermitaño Property, SilverCrest now controls over 300 square kilometres of ground prospective for gold and silver resources for the Santa Elena mine. This transaction advances exploration of gold and silver for Cumobabi and aligns with Evrim’s vision for potential future cash flow.