Orex, Pan American Silver sign agreement regarding Sandra Escobar Project
Orex Minerals is pleased to announce that they have entered into an agreement with Pan American Silver, through its subsidiary Plata Panamericana, regarding the Sandra Escobar Project, in northern Durango, Mexico. Pan American has recently acquired all of the interests of Canasil Resources in the Sandra Escobar Project, including the rights and obligations of Canasil under the 2015 agreement between Orex and Canasil. Pursuant to the Letter Agreement, Pan American and Orex have agreed to negotiate a formal joint venture agreement to replace the 2015 Agreement, and will suspend the operation of the 2015 Agreement until the new agreement is entered into, or until December 31, whichever is earlier. During the suspension period, the parties will contribute pro-rata towards the cost of maintaining the Sandra Escobar Project in good standing.