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VANCOUVER, British Columbia, April 12, 2024 (GLOBE NEWSWIRE) — Patagonia Gold Corp. (“Patagonia” or the “Company”) (TSXV: PGDC) is pleased to complete the transaction to reacquire the COSE Property (“COSE”) from Pan American Silver Corp. (“PAAS”).
As announced on February 27, 2024, Patagonia has entered into an agreement with PAAS to reacquire the COSE Property closed by PAAS in 2022 in exchange for the assumption of PAAS’s liabilities with respect to COSE and the remaining closing costs of COSE, which are mainly related to ongoing environmental monitoring.
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Through the reacquisition of COSE, the Company consolidates its interest in the El Tranquilo concession block, which hosts the Company’s Cap Oeste project as well as several other prospects and mineral deposits. The El Tranquilo block consists of 26 individual concessions totaling 66,255 hectares.
About Patagonia Gold
Patagonia Gold Corp. is a South America-focused, publicly traded mining company listed on the TSX Venture Exchange. The Company seeks to increase shareholder value through the exploration and development of gold and silver projects in the Patagonia region of Argentina. The Company is primarily focused on the Calcatreu project in Rio Negro and the development of the Cap-Oeste underground project. Patagonia owns mineral rights, indirectly through its subsidiaries or through option agreements, to over 430 properties in several provinces in Argentina and is one of the largest landowners in Santa Cruz Province, Argentina.
FORWARD-LOOKING STATEMENTS
This press release contains certain forward-looking statements, including, but not limited to, statements regarding, among other things, COSE’s closure costs, the advancement and development of gold and silver projects in the Patagonia region of Argentina and the expected increase in shareholder value. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” are used. etc. To identify these forward-looking statements, “potential” or the negative or other variations of these words or similar words or expressions have been used. These statements reflect management’s current views and are based on information currently available to management as of the date hereof.
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Forward-looking statements are subject to significant risks, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from those discussed or implied in the forward-looking statements. These factors should be carefully considered and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based on assumptions that management believes to be reasonable, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release and the Company undertakes no obligation to update or revise them to reflect new events or circumstances, 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.
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