Candelaria Sold 0.5% Net Smelter Royalty to Empress
November 25 2020 - 8:00AM
Candelaria Mining Corp. (TSXV:CAND, OTC PINK:CDELF) (the
“
Company”
) is pleased to announce
it has sold a 0.5% net smelter return royalty
(“
NSR”) on production from the Pinos Project to
Empress Royalty Corp. (“
Empress”) for US$750,000.
Empress also purchased an additional 0.5% NSR
from a previous royalty holder on the Pinos Project, for a total of
a 1.0% NSR on the Pinos Project.
The Pinos Project is subject to NSR royalties of
2.0% including the two NSR royalties held by Empress.
Mr. Ramon Perez, President of Candelaria,
commented, “We welcome Empress as a stake-holder in our Pinos
Project, as we continue to work towards development of our Pinos
Project.”
About Candelaria Mining
Candelaria Mining is a Canadian-based gold
development and exploration company with a portfolio of highly
prospective projects in Mexico, one of the world’s best mining
jurisdictions. Candelaria currently owns 100% of Caballo Blanco
Project and the Pinos Gold Project.
For more information on projects, please see the
technical reports prepared pursuant to NI 43-101 which are
available on the Company’s website at www.candelariamining.com.
ON BEHALF OF THE BOARD,
Ramon PerezPresident
For further information, please contact:
Investor RelationsEmail: info@candelariamining.com Phone:
604-349-5992
Cautionary Note Regarding
Forward-looking Statements: This press release contains
certain “forward-looking statements” and “forward-looking
information” under applicable Canadian securities laws concerning
the business, operations and financial performance and condition of
Candelaria Mining Corp. (“Candelaria” or “Candelaria Mining”).
Forward-looking statements and forward-looking information include,
but are not limited to, statements with respect to estimation of
mineral resources at mineral projects of Candelaria;
Forward-looking statements are based on the opinions and estimates
as at the date the statements are made, and are based on a number
of assumptions and subject to a variety of risks and uncertainties
and other factors that could cause actual events or results to
differ materially from those projected in the forward-looking
statements. Many of these assumptions are based on factors and
events that are not within the control of Candelaria and there is
no assurance they will prove to be correct. Factors that could
cause actual results to vary materially from results anticipated by
such forward-looking statements include variations in metal grades,
changes in market conditions, variations in recovery rates,
risks relating to international operations, fluctuating metal
prices and currency exchange rates, changes in project parameters,
the possibility of project cost overruns or unanticipated costs and
expenses, labor disputes and other risks of the mining industry,
failure of plant, equipment or processes to operate as
anticipated.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
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