TSX-V: MSR
TORONTO, Jan. 16,
2024 /CNW/ - Minsud Resources Corp. (TSXV:
MSR) ("Minsud" or the "Company") is pleased to
announce that Minera Sud Argentina
S.A. ("MSA"), the Company's indirect Argentinian
subsidiary through Minsud Argentina Inc. ("MAI"), has signed
an agreement to transfer MSA's ownership of the early stage La
Rosita gold and silver project comprising of 6,000 ha in Santa
Cruz Province, Argentina (the "La Rosita Project") to an
arm's length acquirer. In exchange for the transfer, which is
expected to be completed within 30 days, MAI will receive a 2.5%
net smelter royalty on the La Rosita Project (the
"Royalty"). The acquirer has the option to acquire 50%
of the Royalty for US$1,500,000. The
transfer of the La Rosita Project is being made in preparation for
South32 Aluminium (Holdings) Pty Ltd.'s ("South32") upcoming
acquisition of a 50.1% ownership interest in MSA. No significant
exploration or investment has been made by the Company on the La
Rosita Project as its primary focus has been the Chita Valley
Project, which it continues to avidly pursue with its partner
South32.
About the Chita Valley Project,
San Juan Province:
The Chita Valley Project is a large exploration stage porphyry
system with classic alteration features, widespread porphyry style
Cu-Mo-Au and polymetallic Ag-Pb-Zn mineralization hosted by
Hydrothermal Phreatic Breccias and associated gold and
silver-bearing polymetallic veins of intermediate sulfide
composition that conformed an outcropping porphyry system at Chita
and a lithocap of a porphyry system at Chinchillones. San Juan
Province of Argentina has a robust mining sector and recognizes the
important economic benefits of responsible development of its
substantial Mineral Resource endowment.
About Minsud Resources
Corp.
Minsud is a mineral exploration company focused on exploring its
flagship Chita Valley Cu-Mo- Au-Ag-Pb-Zn Project, in the Province
of San Juan, Argentina. The Company's shares are listed on the
TSX-V under the trading symbol "MSR", and on the OTCQX under the
symbol "MDSQF".
About South32
South32 is a globally diversified mining and metals company. The
company's purpose is to make a difference by developing natural
resources, improving people's lives now and for generations to
come. South32 is trusted by its owners and partners to
realize the potential of their resources. South32 produces
commodities including bauxite, alumina, aluminium, copper, silver,
lead, zinc, nickel, metallurgical coal and manganese from its
operations in Australia,
Southern Africa and South America. With a focus on growing its
base metals exposure, South32 also has two development options in
North America and several
partnerships with junior explorers around the world.
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.
SOURCE Minsud Resources Corp.