TORONTO, Jan. 15, 2024 (GLOBE NEWSWIRE) -- Cartier Silver Corporation (CSE: CFE) ("Cartier Silver" or the "Company") is pleased to report that through its Bolivian subsidiary, Minera Cartier Bolivia S.R.L. ("Cartier Bolivia"), it has acquired 30% of the capital quotas (the "Acquisition") of Empresa Minera Gonalbert S.R.L. and Empresa Minera Segovia S.R.L. (the "Vendors"), who are the registered title holders of two separate properties, the Gonalbert Mining Area and Felicidad Mining Area, both part of the Company's Chorrillos Project, located in Southern Bolivia.
The Acquisition was completed pursuant to the definitive acquisition agreement entered into between Cartier Bolivia and the Vendors (the "Agreement") dated December 12, 2022, whereby Cartier Bolivia completed staged payments aggregating US$300,000 as consideration for 30% of the Vendors' capital quotas. As per the Agreement, Cartier Bolivia can acquire 100% of the Vendors' capital quotas for aggregate consideration of US$4.5 million, to be paid in staged payments on or before December 12, 2027.
With the previously announced staking of additional claims covering 29.25 sq. km immediately south and west of the Felicidad and Gonalbert properties, and the acquisition of an additional claim in the same belt approximately 5 km south of Tupiza, Bolivia, the holdings of Cartier Bolivia in the expanded Chorrillos Project total 69.75 sq. km.
About Cartier Silver Corporation
Cartier Silver is an exploration and development Company focused on discovering and developing its recently acquired silver property assets, including the Chorrillos Project and claims staked by the Company's subsidiary, all of which are located in the Potosi Department of southern Bolivia. The Company also holds significant iron ore resources at its Gagnon Holdings in the southern Labrador Trough region of east-central Quebec, and the Big Easy gold property in the Burin Peninsula epithermal gold belt in the Avalon Zone of eastern Newfoundland & Labrador.
For further information please visit Cartier Silver's website at www.cartiersilvercorp.com
For further information please contact:
| Thomas G. Larsen | Jorge Estepa |
| Chief Executive Officer | Vice-President |
| (800) 360-8006 | (800) 360-8006 |
| (416) 360-8006 | (416) 360-8006 |
The CSE has not reviewed nor accepts responsibility for the adequacy or accuracy of this release.
Statements in this release that are not historical facts are "forward-looking statements" & readers are cautioned that any such statements are not guarantees of future performance, & that actual developments or results, may vary materially from those in these "forward-looking statements".
PDF available: http://ml.globenewswire.com/Resource/Download/1bdeb033-38a3-4ed1-bf31-2f92a52d0659
