Enduro Metals and Southern Empire Finalize Earn-In to the Pedro Gold Project, Mexico
Enduro Metals (TSXV: ENDR) and Southern Empire Resources (TSXV: SMP) have finalized an agreement for Southern Empire to acquire 100% interest in the Pedro Gold Project in Durango State, Mexico. The transaction involves Southern Empire issuing 2 million common shares to Enduro and committing to a $2 million milestone payment upon commercial production commencement.
The 1,750-hectare Pedro Project features a significant gold-in-soil anomaly spanning 4,000 by 1,000 metres. Historical sampling revealed gold values up to 2.3 ppm, with Southern Empire's 2022 drilling program yielding a best interval of 15.23m grading 0.577 g/t Au. Enduro will retain a 2% NSR royalty with no buydown provision.
[ "Southern Empire commits to $2 million future milestone payment upon commercial production", "Enduro retains 2% NSR royalty with no buydown provision", "Project shows promising gold exploration potential with significant surface anomaly", "Recent drilling returned positive gold grades of 0.577 g/t Au over 15.23m" ]Enduro Metals (TSXV: ENDR) e Southern Empire Resources (TSXV: SMP) hanno finalizzato un accordo per l'acquisizione al 100% del Pedro Gold Project nello stato di Durango, Messico. Southern Empire emitterà 2 milioni di azioni ordinarie a Enduro e si impegnerà a un $2 milioni di milestone al momento dell'avvio della produzione commerciale. Il progetto Pedro, di 1.750 ettari, presenta una significativa anomalie di oro nel suolo di 4.000 x 1.000 metri. Campionamenti storici hanno evidenziato valori fino a 2,3 ppm di Au; il programma di trivellazione del 2022 di Southern Empire ha fornito il miglior intervallo di 15,23 m con 0,577 g/t Au. Enduro manterrà una royalty NSR del 2% senza clausola di buy-down.
Enduro Metals (TSXV: ENDR) y Southern Empire Resources (TSXV: SMP) han cerrado un acuerdo para que Southern Empire adquiera el 100% del Pedro Gold Project en el estado de Durango, México. La transacción contempla que Southern Empire emita 2 millones de acciones comunes a Enduro y se comprometa a un pago por hito de $2 millones una vez inicie la producción comercial. El Proyecto Pedro, de 1.750 hectáreas, presenta una notable anomalía de oro en el suelo que abarca 4.000 por 1.000 metros. Muestreos históricos mostraron valores de oro de hasta 2,3 ppm, y el programa de perforación de 2022 de Southern Empire arrojó el mejor intervalo de 15,23 m con 0,577 g/t Au. Enduro conservará una regalía NSR del 2% sin cláusula de compra.
Enduro Metals (TSXV: ENDR) 와 Southern Empire Resources (TSXV: SMP) 는 Southern Empire 가 Pedro Gold Project를 멕시코 Durango 주에서 100% 인수를 finalized 했다. 거래에는 Southern Empire 가 Enduro 에 200만 주의 보통주 를 발행하고, 상업 생산 시작 시 200만 달러의 마일스톤 지급 을 약속하는 내용이 포함된다. 1,750헥타르 규모의 Pedro 프로젝트는 4,000x1,000 미터에 걸친 금 토양 이상치를 특징으로 한다. 과거 샘플링에서 금값은 최대 2.3 ppm 이었고, 2022년 Southern Empire의 시추 프로그램에서 가장 좋은 구간은 15.23m 등급 0.577 g/t Au였다. Enduro 는 2% NSR 로열티를 유지하되 buy-down 조항은 없다.
Enduro Metals (TSXV : ENDR) et Southern Empire Resources (TSXV : SMP) ont finalisé un accord permettant à Southern Empire d'acquérir à 100% le Pedro Gold Project dans l'État de Durango, au Mexique. La transaction prévoit que Southern Empire émette 2 millions d'actions ordinaires à Enduro et s'engage à un paiement d'étape de 2 millions de dollars dès le démarrage de la production commerciale. Le projet Pedro, d'1 750 hectares, présente une anomalie d'or en sol significative couvrant 4 000 par 1 000 mètres. Des échantillonnages historiques ont révélé des valeurs allant jusqu'à 2,3 ppm d'or; le programme de forages de 2022 de Southern Empire a donné le meilleur intervalle de 15,23 m en moyenne 0,577 g/t Au. Enduro conservera une royalté NSR de 2% sans clause d'achat.
Enduro Metals (TSXV: ENDR) und Southern Empire Resources (TSXV: SMP) haben eine Vereinbarung abgeschlossen, wonach Southern Empire 100% am Pedro Gold Project im Bundesstaat Durango, Mexiko, erwerben wird. Die Transaktion sieht vor, dass Southern Empire 2 Millionen Stammaktien an Enduro ausgibt und eine 2 Millionen US-Dollar Meilensteinzahlung bei Produktionsbeginn leistet. Das 1.750 Hektar große Pedro-Projekt weist eine bedeutende Gold-im-Boden-Anomalie von 4.000 x 1.000 Metern auf. Historische Proben ergaben Goldwerte bis zu 2,3 ppm, während das 2022er Bohrprogramm von Southern Empire den besten Abschnitt von 15,23 m mit 0,577 g/t Au ergab. Enduro behält eine 2% NSR-Royalty ohne Buydown-Klausel.
Enduro Metals (TSXV: ENDR) وSouthern Empire Resources (TSXV: SMP) قد أنهت اتفاقاً للسماح لـ Southern Empire بالاستحواذ على المشروع الذهبي Pedro بنسبة 100% في ولاية دورانجو، المكسيك. تتضمن الصفقة إصدار مليوني سهم عادي إلى Enduro والتزام دفعة آلية بمقدار مليوني دولار عند بدء الإنتاج التجاري. يمتد مشروع Pedro على 1,750 هكتاراً ويضم شذوذ ذهب في التربة يغطي مساحة 4,000×1,000 متر. كشفت عينات تاريخية عن قيم ذهب حتى 2.3 ppm، بينما أسفرت خطة الحفر لعام 2022 عن أن أفضل مقطع بلغ 15.23 م بمعدل 0.577 g/t Au. ستحتفظ Enduro بحق امتياز NSR بنسبة 2% بدون شرط شراء.
Enduro Metals（TSXV: ENDR）和Southern Empire Resources（TSXV: SMP）已就< b>Pedro Gold Project在墨西哥杜兰戈州的100%权益收购达成最终协议。交易内容包括 Southern Empire 向 Enduro 发行200万普通股，并在商业化生产开始时承诺支付200万美元里程碑款。Pedro 项目占地< b>1,750 公顷，金在土壤中的异常区覆盖范围为4,000×1,000 米。历史样品显示金值高达2.3 ppm，Southern Empire 2022 年的钻探计划最佳区段为15.23 m 产出0.577 g/t Au。Enduro 将保留2% NSR 授权，无买回条款。
- None.
- Pedro is considered a non-core asset for Enduro
- Project experienced years of inactivity due to uncertain Mexican mining legislation
- Historical gold grades are relatively modest
Vancouver, British Columbia--(Newsfile Corp. - October 1, 2025) - Enduro Metals Corporation (TSXV: ENDR) ("Enduro", "Enduro Metals" or the "Company") and Southern Empire Resources Corp. (TSXV: SMP) ("Southern Empire") are pleased to announce that they have agreed to close Southern Empire's acquisition of the 1,750-hectare Pedro Gold Project (Pedro) in Durango State, Mexico.
Pursuant to amendments of the original Option Agreement (see Commander's news release of July 27, 2021), Southern Empire will now, subject to TSX Venture Exchange approval, acquire a
The Project is considered a non-core asset, with Enduro's focus being on its Newmont Lake Project in British Columbia's Golden Triangle. Restructuring the earn in agreement paves the way for activity to recommence at the Project, following a number of years of inactivity as a result of uncertainty in Mexican mining legislation and weak market conditions, both of which are now much improved.
The Pedro Gold Project is located 80 km from Torreon, Mexico, in the northeastern part of the state of Durango and approximately 30 km west of the town of Mapimi. At Pedro, a gold exploration target is outlined at surface by a gold-in-soil geochemical anomaly (greater than 10 parts per billion) with dimensions of 4,000 metres by 1,000 metres. Outcrop exposure comprises prominent hematite-stained, silica-rich ridges of angular chalcedony fragments and silicified sedimentary rocks within a coarse breccia. Historical sampling of these exposed zones returned gold values (in rock) ranging from background levels to a maximum of 2.3 ppm (58 samples greater than 0.25 ppm Au and 11 greater than one ppm Au). IP geophysics defined zones of elevated chargeability and has identified discreet deep features. Southern Empire completed 856.3 metres of core drilling at Pedro Gold in 2022, returning a best interval of 15.23 m grading 0.577 grams/tonne gold (g/t Au) in hole P22-03. Trace element association, alteration and regional setting indicate a possible "Carlin-style" mineral system.
Granting of Options
The Company has granted an aggregate of 3.69 million incentive stock options to certain officers and directors in accordance with Enduro's equity incentive plan. The options are exercisable at a price of
QA/QC Data Verification Statement
Historical samples mentioned in this release were prepared and analyzed at various times by ALS Chemex at its labs in Chihuahua, Mexico, and Vancouver, Canada. See Commander's news dated September 16, 2012, and July 2, 2014 (historical drill results) posted on SEDAR+ under Bearing Lithium, and news dated February 19th, 2020 and March 30th, 2021 and July 27, 2021 for Commander Resources for QA/QC details. Drilling samples by Southern Empire were analyzed through the ALS Geochemistry preparation lab facility in Chihuahua, Chihuahua State, Mexico which were then shipped by ALS to its North Vancouver, British Columbia facility for gold and multielement analysis (see Commander and Southern Empire release dated April 27, 2022 for QA/QC details).
Qualified person
Mr. Cameron, P.Geo., is a qualified person within the context of National Instrument 43-101 and has read and takes responsibility for the technical aspects of this release.
About Enduro Metals
Enduro Metals is an exploration company focused on its Newmont Lake Project; a total 688 km2 property located within the heart of British Columbia's Golden Triangle. Building on prior results, Enduro Metals' geological team has outlined multiple deposit environments of interest across the Newmont Lake Project including high-grade epithermal/skarn gold along the McLymont Fault, copper-gold alkalic porphyry mineralization at Burgundy, and newly discovered copper-gold porphyry mineralization at North Toe/Andrei. The Company maintains a broader portfolio of mineral projects across Canada including the advanced Burn porphyry copper and gold project in northern British Columbia.
On Behalf of the Board of Directors of Enduro Metals Corporation
"Robert Cameron"
Chief Executive Officer
For further information please contact:
Robert Cameron, CEO
Tel: +1 (778) 989-1501
Email: cameron@endurometals.com
Forward-Looking Statements
This news release contains statements that constitute "forward-looking statements". Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause Enduro's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Forward-looking statements in this news release include statements concerning the Parties' expectation with respect to the de-listing of the Commander Shares and the expectation that Commander will apply to cease to be a reporting issuer.
Although Enduro believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, forward-looking statements by their nature involve assumptions, known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF ENDURO AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE ENDURO MAY ELECT TO, NEITHER OF THEM UNDERTAKES TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/268678
FAQ
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