Mr. Willem Fuchter reports
ABRAPLATA ACQUIRES OVERLAPPING MINERAL RIGHTS TO PRESERVE TITLE TO THE DIABLILLOS AG-AU PROJECT IN ARGENTINA
Abraplata Resource Corp. has completed the definitive documentation necessary to acquire all of the issued and outstanding shares of Minera Cerro Bayo SA, a privately held Argentine company. The transaction was originally announced in the company's news release dated July 12, 2017. Cerro Bayo owns certain mineral rights that, as a result of a long-standing border dispute between two neighbouring provinces in northwestern Argentina, overlap and potentially conflict with the company's mineral rights to its Diablillos silver-gold project. The acquisition of the potentially conflicting mineral rights through the acquisition of Cerro Bayo means that the company will retain its title to the Diablillos silver-gold project regardless of the ultimate outcome of the provincial border dispute.
Terms of the transaction call for the company to pay a total of $3,325,000 (U.S.) in cash and issue 500,000 common shares of the company to the sellers of Cerro Bayo in instalments over a five-year period. The transaction is subject to approval by the TSX Venture Exchange.
Additional details respecting the provincial border dispute and the potentially conflicting titles to the Diablillos property can be found in the company's news release dated July 12, 2017, and the filing statement dated March 1, 2017, copies of which are filed under the company's profile on SEDAR.
About Abraplata Resource Corp.
Abraplata is a junior mining exploration company focused on delivering shareholder returns by unlocking mineral value in Argentina. The company is focused on advancing its flagship Diablillos property, with an indicated resource of 81.3 million ounces of silver and 755,000 ounces of gold, through the various stages of feasibility.
Willem Fuchter, PhD, PGeo, president and chief executive officer of Abraplata and a qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.
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