Kuya Silver Announces Joint Venture Agreement on Umm Hadid Silver-Gold Project, Saudi Arabia
Kuya Silver Corporation (KUYAF) has finalized a joint venture agreement with Sumou Holding Company for the 246-square-kilometre Umm Hadid exploration license in Saudi Arabia. The agreement grants Kuya Silver a 5% non-dilutable interest over the initial five-year work program and an option to acquire an additional 40% participating interest, potentially bringing total ownership to 45%.
The initial work program, estimated at USD $20 million in exploration expenditures, runs until June 2029. Kuya Silver has until April 2027 to exercise its back-in right for the additional 40% stake by reimbursing 40% of expenditures made. The company has already completed satellite-based hyperspectral and ground-based magnetic surveys, identifying new veins up to 1m wide in 4m wide zones, traceable for 600m. A 5,000m drill program is planned to commence in June.
Kuya Silver Corporation (KUYAF) ha finalizzato un accordo di joint venture con Sumou Holding Company per la licenza di esplorazione Umm Hadid di 246 chilometri quadrati in Arabia Saudita. L'accordo concede a Kuya Silver un interesse non diluibile del 5% durante il programma di lavoro iniziale della durata di cinque anni e un'opzione per acquisire un ulteriore 40% di partecipazione, portando potenzialmente la proprietà totale al 45%.
Il programma di lavoro iniziale, con una spesa stimata di 20 milioni di dollari USA per l'esplorazione, durerà fino a giugno 2029. Kuya Silver ha tempo fino ad aprile 2027 per esercitare il diritto di back-in sull'ulteriore 40% rimborsando il 40% delle spese sostenute. La società ha già completato indagini iperspettrali satellitari e sondaggi magnetici a terra, identificando nuove vene larghe fino a 1 metro in zone di 4 metri, tracciabili per 600 metri. È previsto l'avvio di un programma di perforazione di 5.000 metri a partire da giugno.
Kuya Silver Corporation (KUYAF) ha finalizado un acuerdo de joint venture con Sumou Holding Company para la licencia de exploración Umm Hadid de 246 kilómetros cuadrados en Arabia Saudita. El acuerdo otorga a Kuya Silver un 5% de participación no diluible durante el programa de trabajo inicial de cinco años y una opción para adquirir un 40% adicional de participación, lo que podría aumentar la propiedad total al 45%.
El programa de trabajo inicial, con un gasto estimado de 20 millones de dólares en exploración, se extiende hasta junio de 2029. Kuya Silver tiene hasta abril de 2027 para ejercer su derecho de retroceso sobre el 40% adicional reembolsando el 40% de los gastos incurridos. La compañía ya completó estudios hiperespectrales satelitales y encuestas magnéticas terrestres, identificando nuevos filones de hasta 1 metro de ancho en zonas de 4 metros, rastreables por 600 metros. Se planea iniciar un programa de perforación de 5,000 metros en junio.
Kuya Silver Corporation (KUYAF)는 사우디아라비아의 246평방킬로미터 Umm Hadid 탐사 허가에 대해 Sumou Holding Company와 합작 투자 계약을 체결했습니다. 이 계약은 Kuya Silver에게 초기 5년 작업 프로그램 동안 희석되지 않는 5% 지분을 부여하며, 추가로 40% 참여 지분을 취득할 수 있는 옵션을 제공하여 총 소유권을 45%까지 확대할 수 있습니다.
초기 작업 프로그램은 탐사비용으로 미화 2천만 달러가 예상되며 2029년 6월까지 진행됩니다. Kuya Silver는 2027년 4월까지 추가 40% 지분을 확보하기 위해 지출 비용의 40%를 상환하는 백인 권리를 행사할 수 있습니다. 이미 위성 기반 초분광 및 지상 자기 조사를 완료했으며, 4m 폭 구역 내 최대 1m 폭의 새로운 정맥을 600m까지 추적했습니다. 5,000m 시추 프로그램이 6월에 시작될 예정입니다.
Kuya Silver Corporation (KUYAF) a finalisé un accord de coentreprise avec Sumou Holding Company pour la licence d'exploration Umm Hadid de 246 kilomètres carrés en Arabie Saoudite. L'accord accorde à Kuya Silver un intérêt non diluable de 5% pendant le programme de travail initial de cinq ans, ainsi qu'une option pour acquérir une participation supplémentaire de 40%, portant potentiellement la propriété totale à 45%.
Le programme de travail initial, estimé à 20 millions de dollars US de dépenses d'exploration, s'étend jusqu'en juin 2029. Kuya Silver dispose jusqu'en avril 2027 pour exercer son droit de rachat sur les 40% supplémentaires en remboursant 40% des dépenses engagées. La société a déjà réalisé des enquêtes hyperspectrales par satellite et des relevés magnétiques au sol, identifiant de nouveaux filons jusqu'à 1 mètre de large dans des zones de 4 mètres, traçables sur 600 mètres. Un programme de forage de 5 000 mètres est prévu pour commencer en juin.
Kuya Silver Corporation (KUYAF) hat eine Joint-Venture-Vereinbarung mit Sumou Holding Company für die 246 Quadratkilometer große Umm Hadid Explorationslizenz in Saudi-Arabien abgeschlossen. Die Vereinbarung gewährt Kuya Silver ein nicht verwässerbares 5%-Interesse während des ersten fünfjährigen Arbeitsprogramms und eine Option zum Erwerb eines zusätzlichen 40%-Beteiligungsanteils, womit der Gesamtbesitz auf 45% steigen könnte.
Das initiale Arbeitsprogramm, mit geschätzten 20 Millionen USD an Explorationausgaben, läuft bis Juni 2029. Kuya Silver hat bis April 2027 Zeit, sein Rückkaufsrecht für die zusätzlichen 40% auszuüben, indem es 40% der angefallenen Ausgaben erstattet. Das Unternehmen hat bereits satellitengestützte hyperspektrale und bodengestützte magnetische Untersuchungen abgeschlossen und neue Adern von bis zu 1 m Breite in 4 m breiten Zonen identifiziert, die sich über 600 m verfolgen lassen. Ein 5.000 m Bohrprogramm soll im Juni starten.
- None.
- Requires significant future investment (40% of USD $20M) to acquire additional stake
- Back-in right expires in April 2027, creating time pressure
- 40% interest portion will be subject to dilution after exercise
Agreement Provides Significant Upside Participation for Kuya Silver
5000 m drill program planned for June
Toronto, Ontario--(Newsfile Corp. - May 13, 2025) - Kuya Silver Corporation (CSE: KUYA) (OTCQB: KUYAF) (FSE: 6MR1) (the "Company" or "Kuya Silver") is pleased to announce that it has completed a joint venture agreement with Sumou Holding Company ("Sumou"), the majority shareholder of Silver for Mining LLC ("Silver LLC"), which holds the 246-square-kilometre Umm Hadid exploration license in the Kingdom of Saudia Arabia.
Kuya Silver will maintain an active role in the management of the project providing technical and strategic expertise alongside its partners, Sumou, as well as the consultants and employees of Silver LLC. The joint venture agreement awards Kuya Silver a significant interest in the project in two parts: an immediate
Firstly, Kuya Silver will maintain a
Secondly, Kuya Silver retains a back in right, up until April 2027, to acquire an additional
David Lewis, P. Geo, Kuya Silver's VP Exploration, remarked, "I have had the pleasure of a site visit to the Umm Hadid property over the last few weeks to follow up on our now fully realized joint venture. The timing of this visit was especially fortunate, as we hosted a delegation of the Saudi Geological Survey, including the Deputy Minister of the Ministry of Industry and Natural Resources to the project area. We have completed two remote sensing surveys of the property to-date, including a satellite-based hyperspectral survey (to identify mineral distribution) and a ground-based detailed magnetic survey (to identify rock types and structures). The property hosts a cluster of historic veins near some of these magnetic anomaly targets, and we have now identified several new veins, up to 1 m wide in 4 m wide zones and traceable for 600 m, in some of the other targets. We expect to be drilling a first-pass, 5,000 m drill program testing many of these targets starting in June, and I am looking forward to these results."
National Instrument 43-101 Disclosure
The technical content of this news release has been reviewed and approved by David Lewis, M.Sc., P.Geo., Vice President Exploration with Kuya Silver Corp. and a Qualified Person as defined by National Instrument 43-101.
About Kuya Silver Corporation
Kuya Silver is a Canadian‐based, growth-oriented mining company with a focus on silver. Kuya Silver operates the Bethania silver mine in Peru, while developing district-scale silver projects in mining-friendly jurisdictions including Peru and Canada.
For more information, please contact:
David Stein, President and Chief Executive Officer
Telephone: (604) 398‐4493
info@kuyasilver.com
www.kuyasilver.com
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FAQ
What is the size of Kuya Silver's (KUYAF) potential ownership in the Umm Hadid project?
How much is the initial work program worth for KUYAF's Umm Hadid project?
When will Kuya Silver (KUYAF) begin drilling at the Umm Hadid project?
What is the deadline for Kuya Silver to exercise its back-in right for additional stake?
What exploration work has been completed at KUYAF's Umm Hadid project?
