Plata Latina Enters Option Agreement with Fresnillo for Naranjillo Property

http://www.newsfilecorp.com/release/24990/Plata-Latina-Enters-Option-Agreement-with-Fresnillo-for-Naranjillo-Property#.WJx1tDs1_IU

Vancouver, British Columbia–(Newsfile Corp. – February 8, 2017) – Plata Latina Minerals Corporation (TSX-V: PLA) (Plata Latina or the “Company”) is pleased to announce that, through its wholly-owned subsidiary Plaminco S.A. de C.V., it has formally entered into the previously announced option agreement (the “Agreement”) with a wholly-owned subsidiary of Fresnillo PLC (“Fresnillo”) with respect to the Company’s Naranjillo Property (“Naranjillo” or the “Property”). The Agreement provides Fresnillo the option to acquire the Property for a total cash commitment of US$2.15 million, to be paid over 36 months (the “Term”). In addition, Fresnillo is required to spend US$3.0 million in exploration on the Property. With the purchase of Naranillo, Plata Latina retains a 3.0% Net Smelter Return (“NSR”) royalty interest. Naranjillo is situated in Guanajuato, Mexico, consisting of a total of 20,655 hectares, and is adjacent to Fresnillo’s Cerro Blanco Project.

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