<< View all Deals

Golden Arrow Obtains Option to Acquire 75% Interest in Libanesa Property

Maxis Law represented Golden Arrow with a team that included Michael Varabioff and Sean Hawkins.

On October 12, 2021, Golden Arrow Resources Corporation (“Golden Arrow”) announced that it entered into an option agreement with Mirasol Resources Ltd. (“Mirasol Resources”) and subsidiaries of Golden Arrow and Mirasol Resources, pursuant to which Mirasol Resources granted to Golden Arrow an option (the “Option”) to acquire a 75% interest in Mirasol Resources’ Libanesa mineral property in Santa Cruz, Argentina (the “Property”) over a six-year period. Golden Arrow may exercise the Option by incurring an aggregate of US$4 million of exploration expenditures on the Property, paying an aggregate of US$1 million in cash and completing certain drilling obligations on the Property. Upon exercise of the Option, Golden Arrow and Mirasol Resources will form a joint venture through a corporate entity that will hold title to the Property, with Golden Arrow and Mirasol Resources holding a 75% and 25% interest in the corporate entity, respectively, pursuant to the terms of a shareholder agreement to be entered into between the parties.

Golden Arrow is a mineral exploration company with a portfolio of mineral properties, which includes an epithermal gold project in Argentina, a district-scale frontier gold opportunity in Paraguay, a base-metal project in Chile and more than 180,000 hectares of properties in Argentina.

Further details regarding Golden Arrow and the Option can be found on Golden Arrow’s website. The common shares of Golden Arrow trade under the symbol “GRG” on Tier 2 of the TSX Venture Exchange.