(CSE: TRG)
The Juliana, Juliana No.1, Juliana No.2 and La Morita concessions are known to host the same stratiform, silicified unit as Tarachi's currently optioned
"The recently announced assay results on the
Tarachi Projects
Tarachi's projects now consist of the
The Mulatos gold trend is part of the Sierra Madre gold and silver belt that also hosts the operating Mulatos gold mine immediately southeast of the La India property and the
Deal Terms
The Company has entered into an agreement whereby Tarachi has the sole and exclusive irrevocable right and option to acquire an undivided 100% right, title and interest in and to the Juliana, Juliana No.1, Juliana No.2 and La Moritas concessions free and clear of all encumbrances, such option to be exercisable by the Company by making cash payments of an aggregate of
not less than
not less than
not less than
not less than
not less than
not less than
not less than
not less than
not less than
not less than
In addition, issue a total of 4,000,000 common shares (subject to such resale restrictions and legends as may be imposed by applicable securities laws and the CSE), as follows (collectively, the "Share Issuances"):
500,000 Shares on the Effective Date;
1,000,000 Shares on the 12-month anniversary of the Execution Date;
1,000,000 Shares on the 24-month anniversary of the Execution Date;
1,500,000 Shares on the 26-month anniversary of the Execution Date.
The transfer of the Juliana, Juliana No.1, Juliana No.2 and La Moritas concessions is subject to a 3% NSR with respect to the production from the Concessions. The Company will have the right, at any time, to repurchase 1/3 of the 3% of the NSR (being a 1% NSR), for
Table # 1
Concession | Total Area |
Juliana | 285.7202 Ha |
Juliana No. 1 | 345 Ha |
Juliana No. 2 | 70 Ha |
Las Moritas | 447.6959 Ha |
Stock option grant
The Company also announces that it has granted stock options to consultants of Tarachi, under the Company's stock option plan. An aggregate amount of 80,000 stock options have been granted with an exercise price of
Qualified Person
Contact Information: For more information and to sign-up to the mailing list, please contact:
Tel: (250) 574-5767
Email: lorne@tarachigold.com
SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS
This news release includes certain "Forward–Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward–looking information" under applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target", "plan", "forecast", "may", "would", "could", "schedule" and similar words or expressions, identify forward–looking statements or information. These forward–looking statements or information relate to, among other things: the exploration and development of the Project; future mineral exploration, development and production including the identification of a work program.
Forward–looking statements and forward–looking information relating to any future mineral production, liquidity, enhanced value and capital markets profile of Tarachi, future growth potential for Tarachi and its business, and future exploration plans are based on management's reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the price of silver, gold and other metals; costs of exploration and development; the estimated costs of development of exploration projects; Tarachi's ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.
These statements reflect Tarachi's respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward–looking statements or forward-looking information and Tarachi has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: satisfaction or waiver of all applicable conditions to closing fluctuations in general macro–economic conditions; fluctuations in securities markets and the market price of Tarachi's common shares; and the factors identified under the caption "Risk Factors" in Tarachi's management discussion and analysis. Readers are cautioned against attributing undue certainty to forward–looking statements or forward-looking information. Although Tarachi has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. Tarachi does not intend, and does not assume any obligation, to update these forward–looking statements or forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.
SOURCE
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