Core Viewpoint - Azucar Minerals Ltd. has entered into an Option-Joint venture exploration agreement with Almadex Minerals Ltd. to acquire a 60% interest in three mineral projects in Nevada, namely Pilot, Confusion Hills, and Red Ring [1][9]. Cash Payments - Azucar is required to make cash payments totaling $100,000 USD upon acceptance by the TSX Venture Exchange and minority shareholder approval, followed by $300,000 USD for each project upon completion of exploration requirements [2]. Work Commitments - The company must complete at least 2,000 meters of drilling across the projects within 18 months and at least 3,000 meters on the specific project chosen for the option within five years [3]. Additional Payments - Upon completion of at least 15,000 meters of drilling on a specific project, Azucar will make an additional cash payment of $750,000 USD to Almadex [4]. Pilot Mountain Project - The Pilot project features hydrothermal alteration in sedimentary rocks and has shown promising geological mapping and soil sampling results indicating potential porphyry mineralization [5]. A drill permit has been approved, and Azucar plans to develop drilling plans for 2025 [5]. Confusion Hills Project - The Confusion Hills project has shown encouraging preliminary results from grab rock samples, with some samples returning gold grades up to 7.1 g/t [6]. The project area has been mapped to define a high sulphidation/porphyry lithocap, and a drill permit has also been approved [6][7]. Red Ring Project - The Red Ring prospect has identified a significant alteration zone interpreted as a porphyry lithocap, with preliminary rock sampling indicating high values of pathfinder trace elements [8]. Azucar plans further sampling and geophysical studies in 2025 [8]. Management and Board Approval - The management and Board members of both Azucar and Almadex have unanimously approved the option agreement, with independent directors abstaining due to their interests [9][10]. Related Party Transaction - Almadex holds a 19% interest in Azucar, making the option agreement a related party transaction, which requires disinterested shareholder approval [10]. The company plans to seek this approval at its upcoming Annual General and Special meeting on June 26, 2025 [10]. Regulatory Compliance - The option agreement is subject to acceptance by the TSX Venture Exchange, and a material change report will be filed within 10 days of the announcement [11][12].

VANCOUVER, British Columbia, May 01, 2025 (GLOBE NEWSWIRE) -- Almadex Minerals Ltd. ("Almadex" or the "Company") (TSX-V: “DEX”) is pleased to announce that it has signed an Option-Joint venture exploration agreement (the “Option”) with Azucar Minerals Ltd. (“Azucar”) whereby Azucar has the option to acquire a 60% interest in three of Almadex’s wholly owned blocks of claims in Nevada, the Pilot, Confusion Hills and Red Ring prospects more fully described below (the “Projects”). The Pilot project also include ...

TORONTO, May 01, 2025 (GLOBE NEWSWIRE) -- Inventus Mining Corp. (TSXV: IVS) (“Inventus” or the “Company”) is pleased to announce that it has signed a Memorandum of Understanding (“MOU”) with McEwen Mining (“MUX”) to evaluate its Stock Mill for processing of material extracted from Inventus’ 100%-owned Pardo Gold Project located 65 km east of Sudbury, Ontario. Highlights The MOU describes the mutual intent of Inventus and MUX to evaluate if processing of bulk sample material can occur at the Stock Mill from ...