Aug 4 2015
Samco Gold Limited announces a further extension of the share purchase agreement with Mantaro Resources Limited for the acquisition of all the issued and outstanding shares of Samco Minerals S.A. and Cia Dorita MA S.A.C., Mantaro's wholly-owned Peruvian subsidiaries.
The Mantaro Subsidiaries hold certain exploration and mining concessions over the Dino polymetallic property located in Peru (the "Dino Property"). The SPA now terminates on August 31, 2015 if the acquisition in not completed by such date. For more information on the SPA, see the Company's December 12, 2014 news release. For more information on the Dino Property, see the Company's December 18, 2014 news release and the Technical Report on the Dino Property posted under the Company's profile at www.sedar.com on February 3, 2015.
About Samco Gold Limited
Samco Gold's principal business has been the acquisition, exploration and development of precious metals resource properties in Argentina and the region. The Company's principal mineral property in Argentina is the El Dorado Monserrat ("EDM") epithermal gold project, located in the Deseado Massif region of Santa Cruz Province. With an experienced board and management team including a strong Argentinean complement, the Company's goal remains to become an Argentinean producer of gold and silver through the exploration and development of EDM. Samco Gold also owns a portfolio of other mineral exploration properties in the Deseado Massif, the most notable of which is the Corina property.
By virtue of the SPA, Samco Gold proposes to extend its principal business activities into Peru with the intention of becoming a Peruvian producer of zinc, lead and silver through the exploration and development of the Dino Property.
Source: http://www.samcogold.com/