Shares Issued and Outstanding: 54,116,043
TSX-V:
MRZ
OTCPK: MRZLF
VANCOUVER, BC, Dec. 23, 2020 /CNW/ - Mirasol Resources Ltd.
(TSXV: MRZ) (OTCPK: MRZLF) (the "Company" or
"Mirasol") today announced that in recent weeks the Company
has received multiple unsolicited expressions of interest from
third parties seeking to acquire the Company on an at-market
zero-premium basis. The Board of Mirasol has given careful
consideration to these expressions of interest and has determined
that it is in the best interest of shareholders that the Company
remain independent and focused on its current business plan.
Mirasol is a leading South American exploration company focused
in Chile and Argentine where the
Company has generated an extensive portfolio of early, mid and
advanced stage base and precious metals projects. The Company
currently has twelve advanced stage projects. During the current
South American exploration season, drilling has already been
completed on the Virginia Project in Argentina and is planned for a further six
projects in early 2021. Five of the seven drill programs are
partner-funded and two, the Inca Gold Project in Chile and the Sascha-Marcelina Project in
Argentina, are self-funded.
Mirasol's Chair and Interim CEO, Patrick
Evans, commented: "Mirasol's exploration team has done a
tremendous amount of work over a number of years to advance seven
projects in Chile and Argentina to drill-ready stage. This is
unquestionably the most active and exciting drill season in
Mirasol's 15-year history. We expect a steady stream of drill
results over the next six months, in addition to a number of other
corporate developments relating to Mirasol's other advanced stage
projects".
Mr. Evans added: "Mirasol has a strong treasury with approx.
C$15 million in cash. With most of
our drill programs partner-funded, the Board of Mirasol determined
to return excess cash to shareholders through a normal course
issuer bid that was initiated on October 22,
2020. Up to 3.9 million shares, representing 7.2% of the
Company's issued and outstanding shares, may be repurchased under
the bid".
The Board and Management of Mirasol remain keenly focused on the
successful execution of the Company's current business plan with
the overriding objective of maximizing shareholder value.
About Mirasol Resources Ltd
Mirasol is a well-funded exploration company focused in
Chile and Argentina. Mirasol has six partner-funded
projects, two with Newcrest Mining Ltd (Chile), and one each with First Quantum
Minerals (Chile), Mine Discovery
Fund (Chile), Mineria Activa
(Chile) and Silver Sands Resources
(Argentina). Mirasol is currently
self-funding exploration at two projects, Inca Gold (Chile) and Sacha
Marcelina (Argentina).
Forward Looking Statements: The information in this news release
contains forward looking statements that are subject to a number of
known and unknown risks, uncertainties and other factors that may
cause actual results to differ materially from those anticipated in
our forward-looking statements. Factors that could cause such
differences include: changes in world commodity markets, equity
markets, costs and supply of materials relevant to the mining
industry, change in government and changes to regulations affecting
the mining industry and to policies linked to pandemics, social and
environmental related matters. Forward-looking statements in this
release include statements regarding future exploration programs,
operation plans, geological interpretations, mineral tenure issues
and mineral recovery processes. Although we believe the
expectations reflected in our forward-looking statements are
reasonable, results may vary, and we cannot guarantee future
results, levels of activity, performance or achievements. Mirasol
disclaims any obligations to update or revise any forward-looking
statements whether as a result of new information, future events or
otherwise, except as may be required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Mirasol Resources Ltd.