VANCOUVER, BRITISH COLUMBIA, May 10, 2016 – Telson Resources Inc. (TSX Venture – TSN) (“Telson” or the “Company”) is pleased to announce that its wholly owned Mexican subsidiary, Real de La Bufa (hereinafter “Real”) has renewed and extended a temporary land use agreement (the “Agreement”) with the Comunidad La Bufa (hereinafter “Comunidad”), holders of certain surface rights at Tahuehueto.
The Agreement allows the Company to explore, develop and produce minerals within an area of 2,062 hectares over a period of 30 years beginning on the date of the Agreement, April 26th, 2016, and may be extended upon request by Real. This 30-year Agreement is obligatory to Comunidad, not for Real.
As part of the Agreement, Real will pay to Comunidad an annual fee as compensation for the temporary land use for mining exploration and exploitation. Under the Agreement the Company will make an initial payment of US$46,540.00 or the equivalent amount in Mexican Pesos for each 365-day period. Subsequent payments will be due yearly on the anniversary date of the Agreement and will be subject to annual increase of 5% on the value of the preceding years payment.
Ralph Shearing, President stated “we are very pleased that the Company’s ongoing community and social efforts have been very successful in establishing respectful and mutually beneficial relationships between the Company and the Comunidad, at our Tahuehueto Project. This amicable relationship has allowed for a successful long-term renewal of the surface rights agreement.
About Telson Resources Inc.
Telson Resources Inc. is an exploration and development company strategically focused on gold, silver and base metals in the prolific Sierra Madre Belt of Mexico. The Company holds 99% of the outstanding shares of its Mexican subsidiary company that maintains 100% ownership in 7,492 hectare Tahuehueto Property, an advanced stage gold and base metal exploration and development project.
ON BEHALF OF THE BOARD OF DIRECTORS
(signed) “Ralph Shearing”
Ralph Shearing, President
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release
WARNING: The Company relies upon litigation protection for "forward-looking" statements. This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of up-coming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Telson Resources Inc. relies upon litigation protection for forward-looking statements.
Glen Sandwell, Communications Manager
Tel: (604) 684-8071
Email: [email protected]