OPTION to Purchase AGREEMENTRoyalty Agreement • October 18th, 2019 • MAGELLAN GOLD Corp • Metal mining • Colorado
THIS OPTION TO PURCHASE AGREEMENT is made and entered into effective as of October 16, 2019, by and among Golden Minerals Company, a Delaware corporation, whose address for purposes hereof is 350 Indiana Street, Suite 800, Golden, Colorado, U.S.A. 80401 (hereinafter referred to as “GMC”), and its wholly-owned subsidiary, Minera de Cordilleras, S. de R.L. de C.V. (“GMC Mexico”), and Magellan Gold Corporation, a Nevada corporation, whose address for purposes hereof is 500 Marquette Avenue N.W., Suite 1200, Albuquerque, NM 87102 (“Magellan”), and its wholly-owned subsidiary, Recursos Ecologicos Alternativos la Rumorosa (REA) S.A. de C.V (“Magellan Mexico”). GMC, GMC Mexico, Magellan and Magellan Mexico may be individually referred to as a “Party” and will be collectively referred to hereinafter as the “Parties.”
Magellan Gold Corporation Enters into an Agreement to Acquire the Santa Maria Mine from Golden Minerals CompanyMAGELLAN GOLD Corp • October 18th, 2019 • Metal mining
Magellan Gold Corp (OTCQB:MAGE) (the “Company“) has entered into a binding agreement, dated October 16, 2019, with Golden Minerals Company ( “NYSE:AUMN“)(“Golden”) for the assignment of the option (the “Transaction“) to earn a 100% interest in the Santa Maria Project in Chihuahua State, Mexico. The agreement provides for a 150-day period to complete due diligence and secure adequate funding and enter into a definitive agreement (the “Definitive Agreement “) which will formalize the Transaction. Golden currently owns a 100% interest in the Santa Maria Mine, subject to US$200,000 in property payments.
