Enduro Metals Completes Sale of Pedro Gold Project, México to Southern Empire
Rhea-AI Summary
Enduro Metals (symbol: ENDMF) closed the sale of its 100% interest in the 1,750-hectare Pedro Gold Project in Durango, Mexico to Southern Empire Resources on January 20, 2026.
Consideration includes 2,000,000 common shares of Southern Empire and a $2,000,000 milestone payment payable upon commencement of commercial production. Enduro retains a 2% NSR royalty on future Pedro production with no buydown. The 2,000,000 shares are subject to a four-month resale restriction. Southern Empire acquired the Pedro tenements by obtaining 100% of Minera BRG, the Mexican subsidiary that owned the project. Enduro's CEO, Robert Cameron, P.Geo., is the qualified person who approved the technical aspects of the release.
Positive
- Received 2,000,000 Southern Empire shares as immediate consideration
- Agreement includes a $2,000,000 milestone payable at commercial production
- Retained a 2% NSR royalty on future Pedro production with no buydown
Negative
- Sold 100% interest in the 1,750-hectare Pedro project, reducing asset ownership
- Milestone payment of $2,000,000 is contingent on commercial production timing
- Shares received are under a four-month resale restriction, limiting immediate liquidity
News Market Reaction – ENDMF
On the day this news was published, ENDMF gained 10.16%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Vancouver, British Columbia--(Newsfile Corp. - January 20, 2026) - Enduro Metals Corporation (TSXV: ENDR) ("Enduro", "Enduro Metals" or the "Company") is pleased to announce the closing of the sale of
Pursuant to amendments of the original Option Agreement (see Enduro's news release of October 1, 2025) Southern Empire has now issued to Enduro 2,000,000 common shares and agreed to a future milestone payment of
Qualified person
Robert Cameron, P. Geo., Enduro's chief executive officer, is the company's qualified person as defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects) and has reviewed and approved 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. Enduro Metals' geological team has outlined multiple deposit environments of interest across including copper-gold alkalic porphyry mineralization at Burgundy, and newly discovered copper-gold porphyry mineralization at Andrei. The Newmont Lake Project also includes high-grade epithermal/skarn gold along the McLymont Fault. The Company maintains a broader portfolio of mineral projects across Canada including the advanced Burn porphyry copper and gold project in northern BC.
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.
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/280900
FAQ
What did Enduro Metals (ENDMF) receive for the sale of the Pedro Gold Project on January 20, 2026?
Does Enduro Metals (ENDMF) keep any interest in Pedro after the sale?
Are the Southern Empire shares issued to Enduro freely tradable after the January 20, 2026 closing?
How did Southern Empire acquire the Pedro mineral tenements from Enduro?
What triggers the $2,000,000 milestone payment to Enduro from Southern Empire?
