Guanajuato Silver Acquires Lourdes Project in Mexico
News related to:Guanajuato Silver Company Ltd · 2 min read
Guanajuato Silver Company Ltd. has entered into a property option agreement to acquire a 100% interest in its Lourdes Project, located in the state of Guanajuato, Mexico. The agreement, dated October 5, 2026, was reached between Guanajuato Silver Company Ltd. and Zacatecas Silver Corp.
Under the terms of the agreement, Zacatecas Silver will pay Guanajuato Silver Company Ltd. US$225,000 and issue US$600,000 in common shares of Zacatecas Silver. The Lourdes Project comprises three contiguous concessions in northern Guanajuato, covering a total area of 509 hectares. The property is described as a prospective site containing several historic mine workings.
The agreement outlines that Zacatecas Silver will earn 100% ownership of the Lourdes Property by fulfilling certain conditions. These include the issuance of shares at specific times and under defined conditions. The shares to be issued on the TSXV approval date will be issued at the market price, while the shares to be issued on the first and second anniversaries will be issued at a price equal to the greater of the market price, less the maximum discount permitted by the TSXV, or the ten-day volume-weighted average price, converted to United States dollars.
If Zacatecas Silver fails to meet the share issuance conditions, it will be required to make a cash payment to Guanajuato Silver Company Ltd. equal to any shortfall between the aggregate Deferred Share Issue Price and the volume-weighted average price.
Additionally, Zacatecas Silver will grant Guanajuato Silver Company Ltd. a 2% net smelter return royalty on the Lourdes Property. Zacatecas Silver has the option to repurchase 50% of the royalty at any time prior to the commencement of production on the property, with a one-time payment of US$1,000,000.
Guanajuato Silver Company Ltd. is a precious metals producer with a portfolio of producing silver and gold mines in central Mexico. The company operates two processing facilities in the state of Guanajuato, which has a 480-year mining history. Additionally, the company produces silver, gold, lead, and zinc concentrates from the Topia mine in northwestern Durango.