Mantaro Precious Metals Buys 51% Interest in Golden Hill Property

(Mantaro, 25.Aug.2022) — Mantaro Precious Metals Corp. (TSXV: MNTR) (OTCQB: MSLVF) (FSE: 9TZ) has exercised its option to acquire a 51% in the share capital of Minera Golden Hill S.R.L. (“MGH”), which owns the Golden Hill Property, located in Bolivia.

In order to exercise its option to acquire an initial 51% of the shares of MGH, the company issued a total of 2,000,000 common shares and 1,000,000 share purchase warrants, made cash payments of US$500,000 and incurred a minimum of US$250,000 of exploration expenditures at the Golden Hill Property during the last year. The company continues to have the option to earn up to an 80% interest in MGH, which option terms as set out in detail in the news release dated 25 August 2021.

Craig Hairfield, Chief Executive Officer of the company states, “Mantaro is excited to continue its partnership with Minera Golden Hill after a year of extensive work and exciting results at the Golden Hill Property. Minera Golden Hill has proven to be a valuable local partner that is instrumental to the continued success of our work programs in Bolivia. This option exercise represents an important step for Mantaro towards its goal of advancing high-quality, district-scale mineral properties. We are excited to invest and operate in Bolivia as the country continues to demonstrate its vast mineral potential and commitment to further developing its mineral mining industry.”

Luis Fernando Kinn, General Manager of Minera Golden Hill states, “Minera Golden Hill is pleased to be working with Mantaro Precious Metals to advance and realize the full potential of the Golden Hill Project. We have proven that any foreign company may invest in Bolivia under a safe corporate environment and with current regulations that are motivating private companies to strengthen the Bolivian mining industry. Mantaro was chosen as our partner due to their strong knowledge and experience with greenfield exploration programs and we are excited to see the results from the recent drilling program as well as future work programs at Golden Hill.”

San Jose Silver Property

The company’s board of directors has made the decision to focus its capital on its core properties, the Golden Hill Property and Santas Gloria Silver Property. Accordingly, the company has elected to relinquish its interest in its non-core San Jose Silver Property.