Mithril to Acquire the La Dura Gold-Silver Property Adjacent to its Flagship Copalquin Property, Durango State, Mexico

Core Viewpoint - Mithril Silver and Gold Limited has executed a Purchase Option to acquire the La Dura gold-silver property in Durango State, Mexico, which is strategically located near its flagship Copalquin property, indicating potential for resource expansion and development [1][2]. Company Overview - Mithril has a strong foundation of knowledge at La Dura, having conducted exploration work on the property in 2017-2018, positioning the company well to unlock value [3]. - The La Dura property consists of 5 contiguous mining concessions covering a total area of 2,052 hectares, located less than 5 km from El Durazno and 20 km from the Copalquin District property [3][5]. Property Details - The La Dura property hosts several historic mines, including a notable 4-level gold-silver mine with a processing facility capable of handling 60 tonnes per day [3]. - The property has a significant historic database of mining records and data from various sampling campaigns conducted from the 1990s to 2018, with the mine last operating in 2013 [3]. Transaction Terms - Mithril has an exclusive option to purchase 100% interest in the La Dura concessions over a period of 4 years for a total payment of US$4 million [3][10]. - The initial payment upon execution of the Purchase Option Agreement is US$25,000 and the issuance of 50,000 ordinary shares, with a structured payment schedule for the remaining amounts [8][9][14]. Exploration Plans - The company is committed to completing LiDAR and aerial magnetic surveys over the property within the first year and a minimum exploration expenditure of US$200,000 in the second year [3][11]. - Upcoming surveys are expected to provide an initial assessment of the prospectivity across the 20 km² concession area, leading to detailed mapping, sampling, and future drill testing [2][3]. Mining District Context - The Copalquin mining district, where La Dura is located, covers an area of 70 km² and contains several historic gold and silver mines, indicating a rich mineralization potential [11]. - The district is part of the Sierra Madre Gold Silver Trend, known for its significant gold and silver deposits, enhancing the strategic value of the La Dura acquisition [12].