Radius Gold Inc. reported progress from its Plata Verde Project, located in Chihuahua, Mexico. In July 2022 Radius announced an Exclusivity Agreement with Minera San Julian, S.A. de C.V. for Plata Verde Project in Chihuahua, Mexico. The Agreement granted Minera San Julian an exclusive right for nine months to carry out evaluation and exploration activities in order to negotiate an option agreement to earn a 70% interest in the project (the Option Agreement).

The Option Agreement envisages Minera San Julian would commence drilling before 7 July 2023. Radius Gold and Fresnillo have agreed to extend the term of the Agreement for 3 months to allow for the completion of the Option Agreement, without changing the date for planned drilling to commence. The Agreement´s extension also includes that Minera San Julian will cover anticipated USD 157,000 in project costs to underlying concession holders, landowners and to continue with field work at the project.

Fresnillo has made significant advances at Plata Verde in the last 9 months completing: Upgrading and re-habilitation of road access in preparation for drill access; Initial metallurgical test work which demonstrated exceptional cyanide leach recoveries averaging 93% for silver and in combination with flotation achieving 97% silver recovery; Geological mapping and rock chip sampling of the property with 470 samples collected. Results are pending for the last batch and will be published on receipt; Negotiations with landowners for drill access.