Mirasol to sell Sascha-Marcelina for $1.5M (U.S.)

Executive Summary

• Mirasol Resources Ltd. signed a binding heads‑of‑agreement to sell its 100 % owned Sascha project and assign the option to purchase Marcelina project to Andara Mining Pty. Ltd. for US$1.5 million plus a 1.5 % NSR royalty.
• The transaction will provide immediate cash to strengthen Mirasol’s balance sheet and fund ongoing exploration, while retaining upside participation through the royalty and buy‑back rights.
• Completion is subject to customary conditions precedent, with a deadline of Nov 30 2025.

Key Details

• Consideration: US$1.5 million cash payable on or before Nov 30 2025.
• Royalty Retention: Mirasol will keep a 1.5 % net smelter return (NSR) royalty on future production from Sascha‑Marcelina.
• Buy‑Back Rights:
• First 0.75 % of the NSR royalty may be repurchased for US$1.5 million within two years after commercial production starts.
• Remaining 0.75 % may be repurchased for US$4 million within three years after commercial production starts.
• Andara Mining’s Rights: Upon payment, Andara obtains a 100 % interest in the Sascha project and assumes all rights/obligations related to the Marcelina option agreement with Minera Piuquenes SA.
• Option to Purchase Marcelina: Mirasol retains an undivided 100 % interest option on three mineral concessions comprising Marcelina; staged payments totalling US$3.75 million are due Dec 1, 2025 (US$106,250), Dec 1, 2026 (US$156,250) and Dec 1, 2027 (US$3.45 million).
• Project Overview:
• Sascha: 5‑km long vein zone, partially drill‑tested 2006‑2009.
• Marcelina: 5,700‑ha exploration claims adjacent to Sascha; integrated interpretation shows a 16.5 × 4.0 km hydrothermal footprint indicative of a sizable gold‑silver LSE system.
• Recent Exploration Work (pre‑sale):
• Surface mapping, rock‑chip and geochemical sampling defining large alteration footprints.
• 40 km of induced‑polarization geophysics surveys identifying chargeability/resistivity anomalies.
• 2,814 m drilling program in 2021 delivering encouraging gold‑silver intercepts across Pellegrini, Igloo and Estancia trends.

Notable Quotes

“The sale of our Sascha‑Marcelina projects demonstrates our continued focus to unlock value from our underappreciated non‑core assets… The payment of $1.5 million will strengthen our balance sheet and contribute to our exploration plans while the remaining royalty will ensure we participate in future success at Sascha‑Marcelina.” – Tim Heenan, President, Mirasol Resources Ltd.