Minaurum Secures Favorable Amparo Injunction for Alamos Silver Project

Rhea-AI Summary

Minaurum Gold has secured a favorable injunction for its Alamos silver project from the Mexican Federal Administrative Court, protecting the project from the 2023 Mining Law Reform. This decision ensures that the Alamos project remains governed by the 1992 Mexican Mining Law, avoiding the uncertainties of the new reforms. The company is awaiting further court correspondence regarding its other Mexican projects. This ruling stabilizes Minaurum's flagship project, which is key for their portfolio that includes significant silver, gold, and copper assets across Mexico.

Positive

• The Mexican Federal Administrative Court's decision protects Minaurum's Alamos silver project from the 2023 Mining Law Reform, ensuring stability under the 1992 Mexican Mining Law.
• The injunction secures the status of Minaurum's 100% owned Alamos project, a critical asset within its portfolio.

Negative

• Pending court decisions on the remainder of Minaurum's Mexican project portfolio introduce some uncertainty.

Vancouver, British Columbia--(Newsfile Corp. - July 2, 2024) - Minaurum Gold Inc. (TSXV: MGG) (OTCQX: MMRGF) (FSE: 78M) ("Minaurum") is pleased to announce that the injunction (amparo) it filed to protect its Alamos project has been approved by the Mexican Federal Administrative Court (the "Court"), meaning that its 100% owned Alamos silver project remains unaffected in its entirety by the Mining Law Reform approved by the Mexican Congress in 2023.

"We are very pleased with the positive Court decision that protects our flagship Alamos silver project," stated Darrell Rader, President and CEO. "This ruling ensures that Alamos will continue to be governed by the Mexican Mining Law of 1992 and will not be subject to the uncertainties caused by the new Mining Law Reforms."

On May 9, 2023, the Mining Law Reform was approved by Mexican Congress and published in the Official Gazette. In response, Minaurum took steps to protect its Mexican projects by filing injunctions (amparos). The Company awaits further correspondence from the Court regarding the remainder of its Mexican project portfolio.

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Minaurum Gold Inc. (TSXV: MGG) (OTCQX: MMRGF) (FSE: 78M) is a Mexico-focused explorer concentrating on the high-grade 100%-owned fully production-permitted Alamos silver project in southern Sonora. Minaurum is managed by one of the strongest technical and finance teams and will continue its founders' legacy of creating shareholder value to develop and acquire a pipeline of potential Tier One precious metals projects. Through a portfolio containing silver projects totaling 37,928 hectares; gold projects totaling 25,933 hectares; and copper projects totaling 12,856 hectares, Minaurum provides significant exposure to precious and base metals.

ON BEHALF OF THE BOARD

"Darrell A. Rader"

Darrell A. Rader
President and CEO

For more information, please contact:
Sunny Pannu - Investor Relations and Corporate Development Manager
(778) 330 0994 or via email at pannu@minaurum.com

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

___________________________________________________________________________

1570- 200 Burrard Street 
Vancouver, BC V6C 3L6
Phone: 778 330-0994
www.minaurum.com
info@minaurum.com

Cautionary Note Regarding Forward-Looking Information: This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to activities, events or developments that the Company expects or anticipates will or may occur in the future. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof.

In making the forward-looking information in this release, Minaurum has applied certain factors and assumptions that are based on Minaurum's current beliefs as well as assumptions made by and information currently available to Minaurum. Although Minaurum considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking information in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking information.

Readers are cautioned not to place undue reliance on forward-looking information. Minaurum does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/214842

FAQ

What recent legal decision affects Minaurum's Alamos silver project?

Minaurum Gold secured a favorable injunction from the Mexican Federal Administrative Court, protecting its Alamos silver project from the 2023 Mining Law Reform.

How does the court ruling impact the Alamos silver project?

The ruling ensures that the Alamos silver project will be governed by the 1992 Mexican Mining Law, avoiding the uncertainties of the 2023 Mining Law Reform.

What is the significance of the injunction for Minaurum's stock symbol MMRGF?

The injunction provides stability for Minaurum's key Alamos silver project, which may positively affect investor confidence in the stock symbol MMRGF.

Are there any pending legal matters for Minaurum's other Mexican projects?

Yes, Minaurum is awaiting further correspondence from the court regarding the status of its other Mexican projects.