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Minsud completes a restructuring of the Brechas Vacas Option

Published on: Published in: 2016

TSX-V: MSR
July 4, 2016

Minsud completes a restructuring of the Brechas Vacas Option

 

TORONTO, ONTARIO – Minsud Resources Corp. (TSX-V: MSR) (“Minsud” or the “Company”) announces that it has completed a restructuring and second addendum to the Brechas Vacas Option Agreement.

On January 11, 2012, Minsud announced that its Argentine subsidiary, Minera Sud Argentina S.A.(“MSA”), acquired a 50% beneficial interest in a trust that owns the Brechas Vacas properties comprising part of Minsud’s Chita Valley project, with the remaining 50% subject to an option agreement (the “Option”) granted in favor of MSA.
On January 6, 2013, Minsud announced the first addendum to the Option that extended the period of time in which the Company is to pay the semi-annual staggered payments and also extended the expiration of the Option up to December 19, 2019.
MSA has now agreed to further amend the payment and expiry terms on the following basis:

 

(i). Staggered payments:

 

(ii). Exercise of the Option:

 

 

(iii). NSR:                                                                           0.60%
Option to acquire 50% of NSR:                                      400,000

 

About the Brechas Vacas Property:

Brechas Vacas is made up of three mining concessions Luis, Luis I and Luis IV totaling 2,580 hectares in the westernmost part of the consolidated Chita Valley Project, adjacent to the Chita property where the Chinchillones target is located between these two properties.

 

About Minsud Resources Corp.:

Minsud is a mineral exploration company focused on exploring its flagship Chita Valley Cu-Mo- Au-Ag Project, in the Province of San Juan, Argentina. The Company also holds a 100% owned portfolio of selected early stage prospects, including 18,000 has in Santa Cruz Province, Argentina.

 

FOR FURTHER INFORMATION PLEASE CONTACT

Carlos Massa
President and Chief Executive Officer
(+54) 11-4328-4067
info@minsud.com

Mike Johnston
416-479-4466
mike@minsud.com

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:

This news release includes certain information that may constitute forward-looking information under applicable Canadian securities laws. Forward-looking information includes, but is not limited to, statements about strategic plans, spending commitments, future operations, results of exploration, anticipated financial results, future work programs, capital expenditures and objectives. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information including, but not limited to: fluctuations in the currency markets (such as the Canadian dollar, Argentina peso, and the U.S. dollar); changes in national and local government, legislation, taxation, controls, regulations and political or economic developments in Canada and Argentina or other countries in which the Corporation may carry on business in the future; operating or technical difficulties in connection with exploration and development activities; risks and hazards associated with the business of mineral exploration and development (including environmental hazards or industrial accidents); risks relating to the credit worthiness or financial condition of suppliers and other parties with whom the Company does business; presence of laws and regulations that may impose restrictions on mining, including those currently enacted in Argentina; employee relations; relationships with and claims by local communities; availability and increasing costs associated with operational inputs and labour; the speculative nature of mineral exploration and development, including the risks of obtaining necessary licenses, permits and approvals from government authorities; business opportunities that may be presented to, or pursued by, the Company; challenges to, or difficulty in maintaining, the Company’s title to properties; risks relating to the Company’s ability to raise funds; and the factors identified under “Risk Factors” in the Company’s Filing Statement dated April 27, 2011. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking-information contained in this news release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, 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.