Peruvian Metals Corp. Sells Maria Norte Project to Rio Silver Inc.
Edmonton, Alberta – March 26, 2025 – Peruvian Metals Corp. (TSXV: PER) (OTCQB: DUVNF) (“Peruvian Metals” or the “Company”), a mineral exploration and development company, is thrilled to announce a significant transaction. The Company has reached an agreement with Rio Silver Inc. (TSXV: RYO) to transfer a 100% ownership of the Maria Norte Au-Ag-Zn-Pb Project (“Maria Norte” or the “Property”) in exchange for shares and cash.
Background on the Maria Norte Project
Maria Norte, located in South-Central Peru, is a non-core asset for Peruvian Metals. Despite this, the Property holds immense potential due to its proximity to several productive assets in the region. The Project covers approximately 12,400 hectares and is renowned for its gold, silver, zinc, and lead mineralization.
Terms of the Agreement
Under the terms of the agreement, Peruvian Metals will receive an initial payment of CAD 500,000 in cash and 3 million common shares of Rio Silver. Additionally, Peruvian Metals is eligible to receive an additional 1 million shares of Rio Silver upon the completion of certain milestones.
Impact on Peruvian Metals
This transaction represents a strategic move for Peruvian Metals as it allows the Company to focus on its core assets. The proceeds from the sale will be utilized to advance the exploration and development of Peruvian Metals’ flagship projects, including the Igor Project in Peru and the Elabore Gold Project in Mexico. Furthermore, the Company’s reduced operational footprint will lead to operational efficiencies and cost savings.
Impact on the World
The mining industry, particularly in the South-Central Peru region, will witness the following repercussions:
- Increased exploration activities by Rio Silver in the Maria Norte Project, potentially leading to new discoveries and job creation.
- Strengthened financial position of Peruvian Metals, enabling the Company to invest more resources into its core projects.
- Possible spin-off or sale of other non-core assets by other mining companies, leading to further consolidation in the industry.
Conclusion
The agreement between Peruvian Metals and Rio Silver marks an exciting new chapter for both companies. For Peruvian Metals, the sale of the Maria Norte Project signifies a prudent decision to focus on core assets while generating funds for future growth. For the mining industry, this transaction may pave the way for increased exploration activities and consolidation.
As investors and stakeholders, we look forward to witnessing the positive impact this transaction will bring to both Peruvian Metals and the industry as a whole.
