Mineros closes La Peppa acquisition

Executive Summary

• Mineros S.A. completed the purchase of the remaining 80 % interest in Chile’s La Pepa gold exploration project from Pan American Silver Corp. for approximately US$40 million, achieving 100 % ownership.
• The transaction ends the joint‑venture with Pan American and gives Mineros full control over development of the project, which sits in the prolific Maricunga gold belt.
• Management says the acquisition adds a “second organic growth project” to its portfolio and positions the company for transition to a mid‑tier gold producer.

Key Details

• Purchase price: Approximately US$40 million for the remaining 80 % stake in La Pepa.
• Ownership post‑transaction: Mineros now holds 100 % of the La Pepa project.
• Location & geology: La Pepa is an advanced, exploration‑stage gold asset located in the Maricunga gold belt, Atacama region, Chile (≈800 km north of Santiago, 110 km east of Copiapó, at 4,200 m elevation).
• Strategic significance: Provides a second organic growth project alongside the Porvenir project in Nicaragua; intended to anchor Mineros’ evolution into a mid‑tier gold producer.
• Previous ownership structure: Prior joint venture between Mineros (20 %) and Pan American Silver Corp. (80 %).
• Statement from CEO: David Londono, President & CEO, described the acquisition as “a transformative step” that delivers a major gold resource and solidifies the company’s presence in Chile.

Notable Quotes

“Securing 100 per cent of the La Pepa project is a transformative step which adds a second organic growth project in addition to our Porvenir project in Nicaragua. This will anchor our future as we mature into a mid‑tier gold producer,” – David Londono, President & CEO, Mineros S.A.

Materiality Assessment: Material – Positive (significant acquisition that expands the company’s asset base and strategic positioning).