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Kingsmen Resources Ltd. (TSXV: KNG,OTC:KNGRF) (OTCQB: KNGRF) (FSE: TUY) ("Kingsmen" or the "Company") is pleased to report that the previously announced transaction to acquire an option (the "Option") to acquire a 100% interest in the Almoloya GoldSilver project, located 30 km west of its 100%-owned Las Coloradas project, has been successfully completed. Both projects are located in the mining-friendly jurisdiction of Parral, Chihuahua, Mexico. The terms of the Option require Kingsmen to make staged cash payments over an eight year period, with the amount to be paid in the first two years being a total of US$ 325,000 (including US$75,000 in the first year). The Option remains subject to the approval of the TSX Venture Exchange ("TSXV"). For more information regarding the terms of the Option, please see the Company's press release dated July 9, 2025.
The Almoloya project includes the historic past producing Cigarrero and Las Juliettas mines. The project represents a consolidation of five mineral claims into a single, contiguous land package covering 866.25 hectares (2,140.55 acres).
President, Scott Emerson, commented, "This acquisition strengthens our presence in the Parral district. The acquisition aligns with Kingsmen's objective of bringing new life to historically producing assets through claim consolidation. The acquisition terms also allows us to focus costs on exploration work rather than tenure payments in the initial years of the option. With the addition of Almoloya, we expand our land position in the region and continue to advance Kingsmen as a preeminent explorer in the Parral Mining District with current exploration programs designed to deliver near-term significant discoveries."
Kingsmen is pleased with the Almoloya project area which is prospective for high grade silver, lead, zinc and gold mineralization. The project is situated within a large, 12 X 14 km, regional hydrothermal system. This is the first time the entire area has been consolidated by the same company. Many companies have explored portions of the current holdings but none have controlled the entire block including Anglo American Exploration (Canada) Ltd., Newmont Corp., Western Copper Corp., Queenston Mining Inc., Quaterra Resources Inc., Alamos Gold Inc. and Hemlo Gold Mines Inc. Kingsmen is currently compiling and evaluating a number of significant databases. As well, Kingsmen is completing regional sampling and evaluation, and looks forward to quickly advancing the Almoloya project to drill ready status.
About Amoloya
The Almoloya project represents the culmination of a land consolidation process that has taken over 20 years to complete. The now-contiguous land package brings together historically fragmented claims, many of which were previously held and explored by major operators. Extensive historical data from these programs, conducted up until the early 2000s, is available to Kingsmen and provides a valuable foundation for future exploration. Since that time, the project has seen no systematic exploration by either junior or major companies, leaving significant potential untapped in a highly prospective and historically productive district.
Click here to see locator map: https://kingsmenresources.com/area-history.
Qualified Person
Kieran Downes, Ph.D., P.Geo., a director of Kingsmen and Qualified Person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical disclosure set out in this news release.
About Kingsmen Resources
Kingsmen Resources is a mineral exploration company focused on advancing its 100% held projects, the Las Coloradas silver/gold project and Almoloya gold/silver project located in the prolific mining district of Parral Mexico. The projects host historic past producing high-grade silver mines. They are considered to be prospective for hosting further precious metal deposits, being on the same structural and stratigraphic belts that host numerous other, on-trend, high-grade deposits. In addition, the Company has a 1% NSR on the La Trini claims which form part of the Los Ricos North project operated by GoGold Resources Inc. in Mexico. Kingsmen is a publicly-traded company and is headquartered in Vancouver, British Columbia.
On behalf of the Board,
"Scott Emerson"
Scott Emerson, President & CEO
Phone: 604- 685-9316
Email: se@kingsmenresources.com
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Forward-Looking Statements:
Certain disclosure contained in this news release may constitute forward-looking information or forward-looking statements, within the meaning of Canadian securities laws. These statements may relate to this news release and other matters identified in the Company's public filings. In making the forward-looking statements the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. These risks and uncertainties include but are not limited to: the Option, TSXV approval of the Option, the political environment in which the Company operates continuing to support the development and operation of mining projects; the threat associated with outbreaks of viruses and infectious diseases; risks related to negative publicity with respect to the Company or the mining industry in general; planned work programs; permitting; and community relations. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/271753
