Day: July 12, 2017

Leagold Mining Corporation is pleased to announce it has received Mexican anti-trust commission approval with respect to the previously announced US$29 million subscription receipt financing provided by a fund managed by Orion Resource Partners in connection with the Company’s acquisition of the Los Filos Mine from Goldcorp Inc. on April 7, 2017. To accommodate COFECE requirements, when acquiring the Los Filos Mine, Orion’s US$50 million equity investment in Leagold on April 7, 2017 was split into US$21 million in common shares of Leagold and US$29 million in subscription receipts, with each subscription receipt automatically converting into one common share on receipt of the COFECE approval, without payment of additional consideration. In connection with the acquisition of the Los Filos Mine, Goldcorp Inc. agreed to defer US$29 million of the US$279 million cash portion of the purchase price by accepting a short-term promissory note from Leagold.

Endeavour CEO Bradford Cooke commented, “Our second quarter production was an improvement over the first quarter thanks to higher tonnes and/or grades from the Bolañitos and El Cubo mines. Both mines are now performing in line with their operating plans for the year. The Guanaceví mine continues to lag behind plan and an internal review has been initiated in order to identify additional actions needed to improve tonnes and/or grades and production…

“All three of our mines produced according to plan in the second quarter,” said Darren Pylot, President and CEO of Capstone. ” Pinto Valley set new quarterly, monthly and daily throughput records after returning to full operations from the heavy rain and maintenance activities early in the year.”