REG - Hochschild MiningPLC - Hochschild Terminates Option Over Snip Gold

Hochschild MiningAnnouncement

05/04/2023 07:15

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RNS Number : 3782V  Hochschild Mining PLC  05 April 2023

 

 

 

 

 

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5 April 2023

 

Hochschild Terminates Option Over Skeena Resources' Snip Gold Project

 

 

Hochschild Mining PLC ("Hochschild" or "the Company") (LSE: HOC) (OTCQX:
HCHDF) announces that, through its wholly-owned subsidiary Hochschild Mining
Canada Corp., it has given notice to Skeena Resources Limited ("Skeena") to
terminate its option to earn-in a 60% interest in the Snip gold project
located in the Golden Triangle of British Columbia, Canada. Termination of the
option is effective immediately and, as a result, Hochschild has no liability
to complete the Aggregate Expenditure Requirement.

 

In addition, Hochschild has provided confirmation to Skeena that it has
satisfied the Minimum Annual Expenditure Requirement in respect of the
12-month period that commenced on 14 October 2022. Accordingly, no cash
payment is due from Hochschild to Skeena under the terms of the option
agreement.

 

Ignacio Bustamante, Chief Executive Officer said:

"We would like to express our gratitude for the support we have received from
the Tahltan Nation, the British Columbia Government, employees and suppliers
during our one and a half years working at the Snip gold project. We enjoyed
working in Canada but are currently focusing our capital on later-stage
projects in the portfolio, notably the Mara Rosa project in Brazil, which
remains on time and on budget."

 

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 Enquiries:

 Hochschild Mining PLC
 Charles Gordon              +44 (0)20 3709 3264
 Head of Investor Relations

 Hudson Sandler
 Charlie Jack                +44 (0)207 796 4133
 Public Relations

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About Hochschild Mining PLC

Hochschild Mining PLC is a leading precious metals company listed on the
London Stock Exchange (HOCM.L / HOC LN) and crosstrades on the OTCQX Best
Market in the U.S. (HCHDF), with a primary focus on the exploration, mining,
processing and sale of silver and gold. Hochschild has over fifty years'
experience in the mining of precious metal epithermal vein deposits and
currently operates three underground epithermal vein mines, two located in
southern Peru and one in southern Argentina. Hochschild also owns the Mara
Rosa Advanced Project in Brazil as well as numerous long-term projects
throughout the Americas.

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Forward looking statements

This announcement may contain forward looking statements. By their nature,
forward looking statements involve risks and uncertainties because they relate
to events and depend on circumstances that will or may occur in the future.
Actual results, performance or achievements of Hochschild Mining PLC may, for
various reasons, be materially different from any future results, performance
or achievements expressed or implied by such forward looking statements.

 

The forward looking statements reflect knowledge and information available at
the date of preparation of this announcement. Except as required by the
Listing Rules and applicable law, the Board of Hochschild Mining PLC does not
undertake any obligation to update or change any forward looking statements to
reflect events occurring after the date of this announcement. Nothing in this
announcement should be construed as a profit forecast.

 

Note

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(Regulation (EU) No.596/2014). Upon the publication of this announcement via a
Regulatory Information Service, this inside information is now considered to
be in the public domain.

 

LEI: 549300JK10TVQ3CCJQ89

 

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