British Columbia - Radius Gold Inc. (TSXV: RDU) ('Radius' or 'the Company') is pleased to announce that its wholly owned subsidiary Geometales del Norte-Geonorte, S.A. de C.V. ('Geonorte') has entered into an Exclusivity Agreement (the 'Agreement') with Minera San Julian, S.A. de C.V., a wholly owned subsidiary of Fresnillo plc ('Fresnillo'), for Radius' 100% owned Plata Verde Project in Chihuahua, Mexico.
This Agreement grants Minera San Julian an exclusive right for nine months to negotiate an option agreement to earn a 70% interest in the project (the 'Definitive Agreement'). Minera San Julian will pay Geonorte US$ 100,000 within fourteen days of signing the Agreement. Fresnillo is the world's leading silver producer and Mexico's largest gold producer. Fresnillo holds one of the largest precious metals reserves in Mexico. Bruce Smith, President and CEO of Radius, stated, 'Plata Verde has the potential to be a large-scale silver discovery and our new partner Fresnillo, as the world largest primary silver producer, recognizes that potential. Together, we have the technical resources and skills to explore and maximize the potential of the Plata Verde project. Plata Verde is located between two of Fresnillo's premier mining assets, the San Julian Mine, with FY21 mine production of 55,847 gold oz and 16,772,000 silver oz, and the Orisyvo project with indicated and inferred resources of 9.6 moz gold and 12.7 moz silver. With Fresnillo's scale and successful exploration, development and operational experience in the region, Radius has a great partner to advance Plata Verde.'
About Plata Verde
The Plata Verde project is located in Chihuahua, Mexico, north of Radius' Amalia Gold-Silver project and east of the historic Batopilas silver mining district (1708 to 1920) which reputedly produced over 300 million ounces of silver from high grade veins and structures. A new road has been constructed to enable access to the property. Radius geologists have re-discovered an undocumented large scale underground bulk mining operation where in the late 1800's, historic miners hand excavated an extensive series of anastomosing caverns, producing silver bars at an associated smelter operation. The project appears to be un-explored since the miners ceased their operations, and no references have been found within the Mexican Geological Survey. The few local residents have no knowledge of exploration companies working in the area and there are no indications of prior exploration within the mines or surrounding outcrops. Initial prospecting rock chips by Radius geologists have returned silver grades up to 1070 g/t Ag. -3- At Plata Verde, silver mineralization occurs as massive to crustiform banded silica, barite and calcite with silver chlorides, sulphosalt minerals and native silver infilling and cementing fractures and breccia within a basaltic/andesite extrusive volcanic. The basaltic/andesite host occurs at the base of the Upper Rhyolitic Volcanics of the Northern Sierra Madre. In general, the host volcanics and associated silver mineralization are covered by the overlying rhyolitic ignimbrites and are only exposed along the length of a small creek. On the eastern side of the creek several small entrances, hardly visible, lead to an extensive network of anastomosing mining tunnels and cavities. The mining and excavation were done by hand with hammer, chisel and black powder explosives, leaving behind large underground cavities up to 50m x 50m x 30m high. Throughout the mines roman numerals painted on the walls record up to 58 mining areas. The mining excavations define a strike extension of over 500m and up to 100m wide. The host volcanic unit is at least 60m thick. The southern extension is cut by a fault which forms a large cliff face. To the north, east and west the host volcanic flows and silver mineralization are covered by the ignimbrites and remain open to unknown extent in these directions
Radius Gold Inc.
Radius has a portfolio of projects located in Mexico, United States and Guatemala which it continues to advance, utilizing partnerships where appropriate in order to retain the Company's strong treasury. At the same time, management is seeking out additional investment and project acquisition opportunities across the globe.
Contact:
Bruce Smith
Tel: 604-801-5432
Email: info@goldgroup.com
Web: www.radiusgold.com
Forward-looking statements
Certain statements contained in this news release constitute forward-looking statements within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, are forwardlooking statements and include, without limitation, statements about the results of exploration work and future plans at the Plata Verde Project. Often, but not always, these forward looking statements can be identified by the use of words such as 'estimate', 'estimates', 'estimated', 'potential', 'open', 'future', 'assumed', 'projected', 'used', 'detailed', 'has been', 'gain', 'upgraded', 'offset', 'limited', 'contained', 'reflecting', 'containing', 'remaining', 'to be', 'periodically', or statements that events, 'could' or 'should' occur or be achieved and similar expressions, including negative variations. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by forward-looking statements. Such uncertainties and factors include, among others, whether the planned exploration work at Plata Verde will proceed as intended; changes in general economic conditions and financial markets; the Company or any joint venture partner not having the financial ability to meet its exploration and development goals; risks associated with the results of exploration and development activities, estimation of mineral resources and the geology, grade and continuity of mineral deposits; unanticipated costs and expenses and such other risks detailed from time to time in the Company's quarterly and annual filings with securities regulators and available under the Company's profile on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.
RADIUS GOLD INC. 
