Article content

“This approach allows projects within our portfolio to be advanced through third-party investment and expertise while preserving significant potential value for Patagonia’s shareholders. It is consistent with the strategy we have pursued across our portfolio, including at the Tornado and Huracán project in Santa Cruz which are under an option agreement with Newmont¹, while allowing the Company to remain focused on advancing its core projects.”

Article content

About Patagonia Gold

Article content

Patagonia Gold Corp. is a South America focused, publicly traded mining company listed on the TSX Venture Exchange. The Company seeks to grow shareholder value through the exploration and development of gold and silver projects in the Patagonia region of Argentina. The Company is primarily focused on the Calcatreu project in Rio Negro and the development of the Cap-Oeste underground project. Patagonia, indirectly through its subsidiaries or under option agreements, has mineral rights to over 375 properties in an extensive portfolio of properties in several provinces of Argentina and is one of the largest landholders in the province of Santa Cruz, Argentina.

Article content

Article content

For more information, please contact:

Article content

Article content

FORWARD-LOOKING STATEMENTS

Article content

This news release contains certain forward-looking statements, including, but not limited to, statements with respect to the Option Agreement, including implementation of the joint venture arrangements, the transfer of the Property and additional mining claims to NewCo, Astra’s potential exercise of its option to acquire an additional 10% interest in the Property, future exploration and advancement of the Property, the potential growth and value of the Property, the Company’s strategy of maximizing the value of its project portfolio, and the advancement and development of the Company’s gold and silver projects in Argentina. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict”, “potential” or similar words or phrases have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.

Article content

Article content

Forward-looking statements involve significant risks, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. Such factors include, among other things, the ability of the parties to implement the joint venture arrangements contemplated under the Option Agreement, risks associated with exploration and development activities, changes in applicable laws and regulations, unforeseen circumstances affecting the Company’s ability to implement its business strategies, the state of the capital markets, the availability of funds and resources, and general economic, market and business conditions.

Article content

For a more detailed discussion of additional risks and other factors that could cause actual results to differ materially from those expressed or implied by forward-looking statements in this news release, please refer to the Company’s filings with Canadian securities regulators available on SEDAR+. Readers should not place undue reliance on forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with such statements. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by applicable law.

Article content

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 news release.

Article content

Article content

Article content

Article content

Article content

Article content

Article content