Xali Gold Enters Into a Rent to Purchase Agreement on the SDA Plant in Mexico
2023年12月18日 - 9:00PM
Xali Gold Corp. (TSXV:XGC) (“Xali Gold” or the “Company”) is
pleased to advise that it has entered into a Rent to Purchase
Agreement (the “
Agreement”) with a Mexican
company, Grupo Minero WIYA (“
WIYA”) to operate the
San Dieguito de Arriba (“
SDA”) Plant in Nayarit,
Western Mexico. The first payment of US$150,000 was received in
full on December 14, 2023.
As per the Xali Gold News Release dated July 13,
2023, the Company has been in negotiations with several local
parties regarding operating the SDA Plant and has decided to move
ahead with WIYA whereby:
- WIYA agrees to pay US$150,000 per
month for 10 months.
- Upon completion of paying a total
of US$1.5 Million within 12 months, WIYA will have the right to own
the SDA Plant.
- In addition to making monthly
payments, WIYA will be obligated to complete all repairs and
permitting to get the SDA Plant into operation.
- The profits from the transaction
will be shared equally with Magellan Acquisition Corp.
(“Magellan”), as the Company and Magellan each own
50% of the SDA plant as per the earn in agreement with
Magellan.
“We are excited to have come to an agreement
with the local group WIYA to move the SDA Plant into operation and
bring some cash flow to the Company,” says Joanne Freeze, President
and CEO of Xali Gold. “WIYA currently has one operating mine in
Nayarit which produces high grade silver and lead, and the Company
is engaged in discussions regarding potential for additional
business opportunities with WIYA. This agreement allows us to put
our assets to work and provide cash flow while we continue to
evaluate other opportunities within Central and South America.”
AGM Results
The Company is pleased to announce the voting
results from its Annual General Meeting of shareholders (the
“Meeting”) held on December 14, 2023. Shareholders holding
20,976,466 shares or 15.05% of the outstanding shares of the
Company were represented in person or by proxy at the Meeting and
voted in favour of all matters brought before the Meeting.
The Company’s shareholders set the number of
directors of the Company for the ensuing year at four. All director
nominees set out in the Management Information Circular dated
November 7, 2023 (the “Circular”), were elected as
directors, to serve until the next meeting of shareholders of the
Company or until their successors are elected or appointed. Mark
Lotz did not stand for re-election. The Company wishes to thank him
for his contributions as a board member.
About Xali Gold
Xali Gold has gold and silver projects in Peru
and Mexico. El Oro is a district scale gold project encompassing a
well-known prolific high-grade gold dominant gold-silver epithermal
vein system in Mexico. The project covers 20 veins with past
production and more than 57 veins in total, from which
approximately 6.4 million ounces of gold and 74 million ounces of
silver were reported to have been produced from just two of these
veins (Ref. Mexico Geological Service Bulletin Nr. 37, Mining of
the El Oro and Tlapujahua Districts. 1920, T. Flores).
Modern understanding of epithermal vein systems
indicates that several of the El Oro district’s veins hold
excellent discovery potential, particularly below and adjacent to
the historic workings of the San Rafael Vein, which was mined to an
average depth of only 200m.
Xali Gold is dedicated to being a responsible
Community partner.
Joanne C. Freeze, P.Geo., President and CEO, and
Matthew Melnyk, CPG., Director Operations, are Qualified Persons as
defined by National Instrument 43-101 for the projects discussed
above. Ms. Freeze and Mr. Melnyk have reviewed and approved the
contents of this release.
Neither the TSX Venture Exchange nor its
Regulation Services Provider accepts responsibility for the
adequacy or accuracy of this release.
Forward-looking InformationThis
news release may contain forward-looking information (as such term
is defined under Canadian securities laws) including but not
limited to historical production records. While such
forward-looking information is expressed by Xali Gold in good faith
and believed by Xali Gold to have a reasonable basis, they may
address future events and conditions and are therefore subject to
inherent risks and uncertainties including those set out in Xali
Gold’s MD&A. Factors that cause the actual results to differ
materially from those in forward-looking information include,
without limitation, gold prices, results of exploration and
development activities, regulatory changes, defects in title,
availability of materials and equipment, timeliness of government
approvals, potential environmental issues, availability of capital
and financing and general economic, market or business conditions.
Xali Gold expressly 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 in accordance
with applicable securities laws.
On behalf of the Board of Xali Gold
Corp.
“Joanne Freeze” P.Geo.President, CEO and
Director
For further information please contact:Joanne
Freeze, President & CEOTel: + 1 (604)
689-1957info@xaligold.com
NR 126
Xali Gold (TSXV:XGC)
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