Mirasol will retain a 2% NSR Royalty. Following the exercise of the third option, San Lorenzo may buy back the first 0.5% within twelve months for US$2.0 million, and following the commencement of commercial production another 0.5% within twelve months for an additional US$2 million
Mirasol's interest in the Rubi Project will be fully carried to decision to mine
VANCOUVER, British Columbia, March 19, 2026 (GLOBE NEWSWIRE) -- Mirasol Resources Ltd. (TSX-V: MRZ) (OTC: MRZLF) (the "Company" or "Mirasol") is pleased to report the signing of a binding Letter or Intent ("LOI") under which Mirasol grants San Lorenzo Gold Corp. (TSXV:SLG) (OTC:SNLGF) ("San Lorenzo") an exclusive option agreement (the "Option") to acquire the mineral rights and landholdings within Mirasol`s 100% owned Rubi Copper Project ("Rubi") located in Northern Chile.
"The sale of our Rubi Copper Project reflects Mirasol's strategy to monetize our highly prospective yet undervalued assets within our portfolio of projects in Argentina and Chile," Mirasol's President Tim Heenan stated. "The payments of US$4 million will strengthen our ability to fund ongoing exploration, while the remaining royalty provides our shareholders with continued exposure to future success at the Rubi Project."
Terms of the Rubi Project Agreement
Under the terms of the LOI, Mirasol has granted San Lorenzo the Option to acquire the Rubi Project for total consideration of US$4 million subject to conditions. The parties intend to finalize a definitive option agreement on or before March 31, 2026.
First Option to 70% (US$1.6 million over 3 years):
US$50,000 on signing the LOI
US$100,000 on signing Definitive Agreement
US$100,000 one year after signing Definitive Agreement
US$100,000 two years after signing Definitive Agreement
US$1,250,000 three years after signing Definitive Agreement
Exploration Expenditures
US$150,000 one year after signing Definitive Agreement
US$150,000 two years after signing Definitive Agreement
US$350,000 three years after signing Definitive Agreement
Upon completion of the First ...
