VANCOUVER, British Columbia, Nov. 25, 2020 (GLOBE NEWSWIRE) -- Candelaria Mining Corp. (TSXV:CAND, OTC PINK:CDELF) (the “Company”) is pleased to announce it has sold a 0.5% net smelter return royalty (“NSR”) on production from the Pinos Project to Empress Royalty Corp. (“Empress”) for US$750,000.
Empress also purchased an additional 0.5% NSR from a previous royalty holder on the Pinos Project, for a total of a 1.0% NSR on the Pinos Project.
The Pinos Project is subject to NSR royalties of 2.0% including the two NSR royalties held by Empress.
Mr. Ramon Perez, President of Candelaria, commented, “We welcome Empress as a stake-holder in our Pinos Project, as we continue to work towards development of our Pinos Project.”
About Candelaria Mining
Candelaria Mining is a Canadian-based gold development and exploration company with a portfolio of highly prospective projects in Mexico, one of the world’s best mining jurisdictions. Candelaria currently owns 100% of Caballo Blanco Project and the Pinos Gold Project.
For more information on projects, please see the technical reports prepared pursuant to NI 43-101 which are available on the Company’s website at www.candelariamining.com.
ON BEHALF OF THE BOARD,
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Cautionary Note Regarding Forward-looking Statements: This press release contains certain “forward-looking statements” and “forward-looking information” under applicable Canadian securities laws concerning the business, operations and financial performance and condition of Candelaria Mining Corp. (“Candelaria” or “Candelaria Mining”). Forward-looking statements and forward-looking information include, but are not limited to, statements with respect to estimation of mineral resources at mineral projects of Candelaria; Forward-looking statements are based on the opinions and estimates as at the date the statements are made, and are based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Many of these assumptions are based on factors and events that are not within the control of Candelaria and there is no assurance they will prove to be correct. Factors that could cause actual results to vary materially from results anticipated by such forward-looking statements include variations in metal grades, changes in market conditions, variations in recovery rates, risks relating to international operations, fluctuating metal prices and currency exchange rates, changes in project parameters, the possibility of project cost overruns or unanticipated costs and expenses, labor disputes and other risks of the mining industry, failure of plant, equipment or processes to operate as anticipated.
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