Plata Latina Announces Completion of Sale of Naranjillo NSR to Fresnillo

Rhea-AI Summary

Plata Latina Minerals (TSXV: PLA) has finalized the sale of its 3% net smelter return (NSR) on the Naranjillo property to a Fresnillo plc subsidiary for US$6,000,000. The transaction, previously announced on February 27, 2025, has now been completed. The company maintains a separate 2% NSR with Fortuna Mining Corp. on the La Joya project in Hildago, Mexico.

Positive

• Immediate cash injection of US$6,000,000 from Naranjillo NSR sale
• Retention of 2% NSR on La Joya project maintains future revenue potential

Negative

• Final sale price of US$6,000,000 represents significant reduction from initially announced US$8,610,000

News Market Reaction – PLLMF

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+25.00% Session move

In the trading session that priced this news, PLLMF gained 25.00%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

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Vancouver, British Columbia--(Newsfile Corp. - April 11, 2025) - Plata Latina Minerals Corporation (TSXV: PLA) ("Plata Latina" or the "Company") has completed the sale of the 3% net smelter return ("NSR") on the Naranjillo property for a total of US$6,000,000 (the "Transaction") to a wholly-owned subsidiary of Fresnillo plc ("Fresnillo"). (Previously announced on February 27, 2025 - "Plata Latina Announces Fresnillo to Purchase Naranjillo NSR for $8,610,000").

The Company retains a 2% NSR with Fortuna Mining Corp. on the La Joya project, which is located in the state of Hildago, Mexico.

About Plata Latina Minerals

Plata Latina Minerals is a growth-focused company focused on exploring strategic opportunities within the mining industry. With a strong cash balance and led by a highly experienced team with a proven track record in identifying, optimizing and growing businesses, Plata Latina aims to create long-term value through acquisitions, partnerships and other strategic transactions. Plata Latina is actively evaluating opportunities. The Company also has a 2% NSR on the La Joya Project in Mexico.

For more information, please contact:
Patricia Fong
Chief Financial Officer
Telephone: +1 800 933 9925
Email: info@plminerals.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) 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/248149

FAQ

How much did Fresnillo pay for Plata Latina's (PLLMF) Naranjillo NSR?

Fresnillo paid US$6,000,000 for Plata Latina's 3% net smelter return (NSR) on the Naranjillo property.

What assets does Plata Latina (PLLMF) retain after selling Naranjillo NSR?

Plata Latina retains a 2% NSR with Fortuna Mining Corp. on the La Joya project in Hildago, Mexico.

When was the Plata Latina (PLLMF) Naranjillo NSR sale completed?

The sale was completed on April 11, 2025, following its initial announcement on February 27, 2025.

What is the difference between the announced and final price for PLLMF's Naranjillo NSR sale?

The sale was initially announced at $8,610,000 but was completed at US$6,000,000, representing a reduction in the final transaction value.