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Orex Announces Joint Venture Property Sandra Escobar is Subject of Lawsuit
Sep. 15, 2017 08:51AM PST
Silver InvestingOrex Minerals (TSX-V: REX — OTCQX: ORMNF) (“Orex”) was made aware earlier today that Canasil Resources (TSX.V: CLZ or “Canasil”) has been named in a lawsuit brought by Pan American Silver (“Pan American”) with the BC Supreme Court regarding the mineral claims making up the Sandra Escobar Project (the “Project”) in Durango state, Mexico. As announced …
Orex Minerals (TSX-V: REX — OTCQX: ORMNF) (“Orex”) was made aware earlier today that Canasil Resources (TSX.V: CLZ or “Canasil”) has been named in a lawsuit brought by Pan American Silver (“Pan American”) with the BC Supreme Court regarding the mineral claims making up the Sandra Escobar Project (the “Project”) in Durango state, Mexico.
As announced on January 16, 2017, Orex earned a 55% ownership interest in the Project by paying Canasil CAD $500,000and spending more than USD $2,000,000 in exploration and development at the Project pursuant to an option agreement with Canasil dated September 15, 2015.
While Pan American’s claim, if proved, could impact Orex’s interest in the Project, Orex is not currently in a position to comment on the merits of Pan American’s claim. Orex will be monitoring the situation and seeking further information from Canasil.
About Orex Minerals
Orex is a Canadian-based junior exploration company comprised of highly qualified mining professionals.
Orex has several current projects: the Coneto Silver-Gold Project in Durango, Mexico, as a joint venture with Fresnillo PLC; the Sandra Escobar Silver Project, also in Durango, Mexico, as a joint venture with Canasil Resources Inc., and the Jumping Josephine Gold Project in British Columbia, Canada.