Homerun Resources Inc. Signs Exclusivity Agreement for the Acquisition of Silica Mineral Rights
Homerun Resources has signed an exclusivity agreement for the acquisition of silica sand mineral rights in Taperoá, Bahia, Brazil. The agreement covers several mining rights and grants Homerun a 90-day period for due diligence. An assay showed the deposit contains 99.68% SiO2, indicating high-purity silica sand. If the due diligence is successful, Homerun will pay R$ 30.00 per ton of extracted material as royalties. The company has engaged Dr. Roque Yuri Tandel, a qualified consultant, for the review. This acquisition aims to bolster Homerun's position as a leading supplier of high-purity silica for industrial markets.
- Signed exclusivity agreement for high-purity silica sand mineral rights.
- Deposit assay showed 99.68% SiO2, indicating commercial-grade material.
- 90-day exclusivity period for due diligence provides time for thorough evaluation.
- Royalties set at R$ 30.00 per ton, potentially lucrative revenue stream.
- Engagement of experienced consultant Dr. Roque Yuri Tandel for review.
- Potential to strengthen Homerun's market position in high-purity silica supply.
- Due diligence may reveal issues that could jeopardize the acquisition.
- Potential financial liability if the deposit does not meet expected standards.
- Dependence on the outcome of the review and legal standing confirmation.
Vancouver, British Columbia--(Newsfile Corp. - June 13, 2024) - Homerun Resources Inc. (TSXV: HMR) (OTCQB: HMRFF) ("Homerun" or the "Company") is pleased to announce that the Company has signed an exclusivity agreement dated June 10th, 2024, for the acquisition of silica sand mineral rights in the municipality of Taperoá, Bahia, Brazil.
The agreement comprises the mining rights 870.335/2022, 871.743/2016, 872.794/2015 and 870.051/2024 before the ANM (National Mining Agency, currently held by a local citizen, directly and through an individual legal entity fully owned by this person) (the "Property").
An assay performed on a representative bulk sample from the deposit by the current owner returned a value of
Exclusivity Agreement
According to the agreement, HMR will have a 90-day exclusivity period for the performance of a due diligence in the areas, and if the results are satisfactory, the parties may enter into a contract for the total assignment of mining rights, the basis of which will be the payment of royalties at R
The Company is engaging Dr. Roque Yuri Tandel, to perform a physical visit to the areas and complete a review and confirmation of the legal standing of the mineral rights. Dr. Roque Yuri Tandel is a Technical Consultant with more than 30 years of experience, and he is a Qualified Person registered by the CBRR (registration no. 017015) in the specialties of Mineral Exploration and Estimation of Mineral Resources. Dr. Roque Yuri Tandel, was previously Geologist / Systems and Quality Manager for Sibelco Mineração Ltda.
The Company will also engage a local auditing firm to assess the legal and financial status of the current owner of the mineral rights and once the due diligence is complete a more comprehensive press release will be issued.
Brian Leeners, CEO of Homerun stated, "Securing this exclusivity agreement and adding this exceptional silica sand deposit with very favourable logistics to our portfolio, represents another step forward in positioning Homerun as a leading supplier for the growing global demand for high-purity silica. The Property will compliment our asset base in Belmonte in servicing bulk HPQ industrial markets, while the higher purity Belmonte silica is delivered into HPQ Energy Verticals."
Figure 1. Silica sand on the Property
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4082/212836_07f3fe7e14987bc8_001full.jpg
"Geologically, this asset seems to have many similarities with the Company's flagship Belmonte asset. By assuming control of this ground, HMR aims to become the largest silica sands powerhouse in the Americas," says Armando Farhate, COO of Homerun.
About Homerun Resources (https://homerunresources.com/)
Homerun Resources is focused on the development of its business within the critical and energy materials sectors. With a steadfast commitment to operational excellence, sustainability, and building shareholder value, Homerun Resources Inc. is poised to make a lasting impact in these industries.
Qualified Person
Technical information in this news release has been reviewed and approved by Case Lewis, P.Geo., a "Qualified Person" as defined under NI 43-101 Standards of Disclosure for Mineral Projects.
On behalf of the Board of Directors of
Homerun Resources Inc.
"Brian Leeners"
Brian Leeners, CEO & Director
brianleeners@gmail.com / +1 604-862-4184 (WhatsApp)
FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements".
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/212836
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