Magna Gold Corp. Closes Acquisition of the Margarita Silver Project in Chihuahua, Mexico

Magna Gold_19112020

TORONTO, Nov. 19, 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 closed the acquisition (the “Acquisition”) of the option (the “Option”) to acquire a 100% undivided interest in the mining concessions comprising the Margarita Silver Project (the “Property”) pursuant to 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. Immediately following the Acquisition, the Purchaser exercised the Option to acquire the Property (the “Option Exercise”). 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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