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- Eco Earth to acquire the Nord East and Nord West Projects for a total combined consideration of ~US$2.5 million over 4 years of scheduled payments
- Mirasol will retain a 2% NSR royalty on Nord East, Eco Earth will have the right to purchase the first 1% for US$3.0 million, and the remaining 1% for an additional US$6.0 million
- Mirasol will retain a 1% NSR royalty on Nord West, Eco Earth will have the right to purchase back for US$1.0 million
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VANCOUVER, British Columbia, July 15, 2025 (GLOBE NEWSWIRE) — Mirasol Resources Ltd. (TSX-V: MRZ) (OTC: MRZLF) (the “Company” or “Mirasol”) is pleased to report the signing of Option to Purchase Agreements (“Agreement”) under which Mirasol grants Pampa Camarones SpA (BCS: CAMARONEX), through its affiliate Eco Earth Elements SpA, (“Eco Earth”) an exclusive right to acquire the mineral rights within Mirasol`s 100% owned Nord East and Nord West Projects (“Nord East”, “Nord West” or the “Nord
Projects”) located in Region II of Chile. The Nord East and West Projects are directly adjacent to Pampa Camarones´ Ciclón-Exploradora development project, which is advancing to production, and will serve as key properties for the development of essential infrastructure, while also increasing potential resources and adding exploration upside.
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“The sale of our Nord Projects is another step in our ongoing business development initiatives to unlock value from our non-core assets in our portfolio of projects in Argentina and Chile,” Mirasol’s President Tim Heenan stated. “The payments of US$2.5 million over the next four years will contribute to our ongoing exploration and the remaining royalty will ensure we participate in any success at Nord.”
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Terms of the Nord Projects Agreement
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Under the terms of the Agreement, Mirasol shall grant Eco Earth the rights to acquire the Nord East and Nord West for total consideration of US$2,556,536, comprising: US$2,044,986 for the sale of Nord East and US$511,550 for the sale of Nord West by making scheduled payments over 4 years.
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Making cash payments totally US$2,556,536 on the following 4-year schedule:
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- US$59,043 on signing Agreement
- US$22,493 six months after signing Agreement
- US$175,000 one year after signing Agreement
- US$150,000 one and a half years after signing Agreement
- US$450,000 two years after signing Agreement
- US$400,000 three years after signing Agreement
- US$1,300,000 four years after signing Agreement
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Upon completion of payments, Eco Earth will have earned 100% interest in the Nord Projects and Mirasol will retain a 2% NSR (Net Smelter Return) royalty on Nord East and a 1% NSR royalty on Nord West. Eco Earth will have the right to purchase the first 1% of the 2% NSR royalty on Nord East for US$3 million and the remaining 1% for an additional US$6.0 million.
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Nord Projects Overview
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The Nord Projects were originally staked by Mirasol as part of its generative program and are located directly to the east and to the west of the Ciclón-Exploradora polymetallic-epithermal project, which is currently being advanced to production. The 1,900-ha projects are located in Region II of Chile within the Exploradora District, which lies on the western side of the north-south trending regional scale Domeyko fault zone and within the world class Eocene-Oligocene porphyry Copper belt.
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Based on Mirasol’s initial surface exploration, the Nord East project has the potential to host two main styles of mineralization. The first style is characterized by large vein-type mineralization injected into fault structures hosting polymetallic (copper, zinc, lead, silver, gold) mineralization, as seen in the active small-scale mines located near the northeast corner of the claim boundary and at the Ciclón-Exploradora polymetallic development project, which is located adjacent to the eastern blocks of the project (news release October 31, 2019).
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