Latin Metals Signs Definitive Option Agreement for Huachi Copper-Gold Project, San Juan Province, Argentina

Core Viewpoint - Latin Metals Inc. has entered into a definitive option agreement with Golden Arrow Resources Corp. to acquire up to a 100% interest in the Huachi property, a 3,500-hectare copper-gold project in Argentina, which is adjacent to its existing Esperanza project [1][9]. Agreement Terms - Latin Metals can acquire an initial 75% interest in the Huachi property by spending US$1,000,000 on exploration and making US$1,000,000 in cash payments to Golden Arrow over four years [3][8]. - After earning the 75% interest, Latin Metals has a Top-Up Right to acquire the remaining 25% for an additional US$2,000,000 within 90 days [4][8]. - If the Top-Up Right is not exercised, a joint venture will be formed with Latin Metals holding 75% and Golden Arrow 25%, with each party funding its share of future expenditures [5]. Work Commitments - Work commitments and cash payments will begin on the first anniversary of the environmental permit approval, which allows exploration activities to commence [6]. - The cash payments and work commitments are structured as follows: - First Anniversary: US$100,000 cash and US$100,000 work commitment - Second Anniversary: US$150,000 cash and US$150,000 work commitment - Third Anniversary: US$250,000 cash and US$250,000 work commitment - Fourth Anniversary: US$500,000 cash and US$500,000 work commitment - Total cash payments amount to US$3,000,000 for 100% ownership [7][8]. Project Overview - The Esperanza project features a partially defined copper-gold porphyry system, with historical drilling results indicating significant mineralization, including 387m at 0.57% Cu and 0.27 g/t Au [9]. - The mineralization at Esperanza is open in all directions, suggesting potential continuity towards the Huachi project [9]. Company Background - Latin Metals Inc. operates as a copper, gold, and silver exploration company in Peru and Argentina, utilizing a prospect generator model to minimize risk and maximize discovery potential [10]. - The company has 18 projects and secures option agreements with major mining companies to fund exploration, including partnerships with AngloGold Ashanti and Moxico Resources [10].