Sonoro Metals Corp. (TSX.V: SMO) (“Sonoro” or the “Company”) announces that through its wholly-owned Mexican subsidiary, Minera Mar de Plata, S.A. de C.V., it has entered into an assignment agreement (the “Agreement”) with Agnico Sonora, S.A. de C.V. (“Agnico”), a subsidiary of Agnico Eagle Mines Ltd. (TSX: AEM), for the sale to Agnico of Sonoro’s Chipriona project in Mexico for $4 million plus a 1% net smelter returns royalty (“NSR”). The NSR may be purchased by Agnico at any time for $1.5 Million.
The Chipriona project is located in the Mulatos Mining District in Sonora State and is comprised of several concessions totaling 515 hectares, covering the Chipriona group of concessions, Los Pinos concession and private land near or adjacent to Agnico’s La India gold mine. The Chipriona concessions account for approximately 4% of Sonoro’s total exploration portfolio of 14,351 hectares.