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Magellan Gold Signs Letter of Intent on Silver-Gold Exploration Property in Peru 2016-07-05RENO, Nevada, July 5, 2016 /PRNewswire/ -- Magellan Gold Corporation (OTCQB: MAGE) ("Magellan" or "the Company") today announced it had signed a non-binding Letter of Intent ("LOI") with Rio Silver Inc. ("Rio Silver") (TSX.V: RYO) pursuant to which Magellan is granted the option to...
Magellan Gold to earn 50% stake in Rio Silverâs Peruvian NiÃ±obamba silver project 2016-07-04Arm’s length parties Rio Silver and Magellan Gold have signed a nonbinding option agreement allowing Magellan to earn up to 50% of the Niñobamba silver project, in Peru. Pending regulatory approval and following a 45-day due diligence period, the parties will sign a definitive agreement.
Rio Silver and Magellan Gold Sign LOI for Ninobamba Property in Peru 2016-07-04
TORONTO, ONTARIO--(Marketwired - July 4, 2016) - Rio Silver Inc. ("Rio Silver" or the "Company") (TSX VENTURE:RYO) is pleased to announce that it has entered into a non-binding letter of intent (the "LOI") with Magellan Gold Corporation ("Magellan") (OTCQB:MAGE), an arm's length party, pursuant to which, subject to regulatory approval, Rio Silver has granted to Magellan an option (the "Option") to earn an undivided 50% interest in the Company's Niñobamba Silver Property ("Niñobamba"). The parties intend to replace the LOI with a definitive agreement (the "Definitive Agreement") containing industry standard terms and conditions following a 45-day due diligence period.