Magna Gold Corp. Announces Agreement to Acquire Margarita Silver Project in Chihuahua, Mexico

Magna Gold _10112020

TORONTONov. 10, 2020 /CNW/ – Magna Gold Corp. (TSXV: MGR) (OTCQB: MGLQF) (“Magna” or the “Company“) is pleased to announce that the Company and Molimentales del Noroeste, S.A. de C.V. (the “Purchaser“), a subsidiary of the Company, have entered into a definitive option acquisition agreement (the “Agreement“) with Sable Resources Ltd. (“Sable“) and Exploraciones Sable, S. de R.L. de C.V. (the “Vendor“), a wholly-owned subsidiary of Sable, to acquire (the “Acquisition“) the Vendor’s option (the “Option“) to acquire a 100% undivided interest in the mining concessions comprising the Margarita Silver Project (the “Property“). The Property is comprised of two mining concessions, covering 125.625 hectares, located within the prolific Sierra Madre Gold Belt, which hosts numerous multimillion-ounce gold-silver deposits, 88 kilometers south of the state capital of Chihuahua in the Municipality of Satevo, State of Chihuahua, Mexico. The Property lies 15 kilometres northwest on strike with Sunshine Silver Corp.’s Los Gatos Mine.

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