VANCOUVER, British Columbia, Nov. 28, 2017 (GLOBE NEWSWIRE) — GFM Resources Limited (the “Corporation”) (TSX-V:GFM.H) is pleased to announce that it has entered into an exploration and evaluation agreement with Minera Auricup, S. de R.L. (“Auricup”) for exclusive access to conduct exploration and evaluation of the merits of a mineral concession (the “Evaluation Agreement”) of Auricup’s Baviácora concession (the “Concession”), located in the state of Sonora, Mexico.
Under the terms of the Evaluation Agreement, the Corporation will pay for outstanding mineral rights of the Concession, will have exclusive access rights for a period of six months, and will obtain a minimum 15% ownership stake in the Concession. The starting of the six-month initial evaluation and exploration term is subject to Auricup negotiating the land access rights with the local communal land administration. If, for any reason, such access rights are not successfully negotiated within 120 days of the date of Evaluation Agreement, the Corporation has the option of demanding full repayment, or to obtain a similar stake in a different but equivalent mineral concession owned by Auricup.