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Enduro Metals and Southern Empire Finalize Earn-In to the Pedro Gold Project, Mexico
Newsfile· 2025-10-01 11:30
Core Points - Enduro Metals Corporation and Southern Empire Resources Corp. have finalized the acquisition of the Pedro Gold Project in Mexico, covering 1,750 hectares [1][2] - Southern Empire will acquire a 100% interest in the Pedro mineral tenements by issuing 2,000,000 common shares to Enduro and committing to a future milestone payment of $2,000,000 upon commercial production [2] - Enduro retains a 2% net smelter return royalty interest with no buy-down provision [2] Project Details - The Pedro Gold Project is located 80 km from Torreon, Mexico, and features a gold exploration target outlined by a geochemical anomaly [4] - Historical sampling returned gold values up to 2.3 ppm, with significant intervals identified during Southern Empire's 2022 drilling [4] - The project is considered a non-core asset for Enduro, which is focusing on its Newmont Lake Project in British Columbia [3] Company Information - Enduro Metals is primarily focused on the Newmont Lake Project, which spans 688 km² and includes multiple deposit environments of interest [9] - The company has a broader portfolio of mineral projects across Canada, including the advanced Burn porphyry copper and gold project [9] - The restructuring of the earn-in agreement allows for renewed activity at the Pedro Gold Project after years of inactivity due to regulatory and market conditions [3]