ALORO MINING CORP. – (the “Company” or “Aloro”) is pleased to announce that through its Mexican subsidiary, Exploraciones Aloro, S.A. DE CV( Exploraciones) has signed the formal documentation, in Mexico, with Cuesta Del Cobre, S. De R.L. De C.V. (Cuesta Del Cobre) of Hermosillo, Sonora, Mexico to acquire 100% of the Quitovac Gold Mine Project (Quitovac) .
The Mexican agreement has been signed by representatives of both Exploraciones and Cuesta Del Cobre, notarized, and will be filed with the Registro Público de Mineria, Mining Public Registry. The agreement will govern the terms of the mining exploration and exploitation contract, and the mineral rights assignment contract. This agreement is defendable in accordance with Mexican laws.
The Quitovac Gold Mine Project consists of 14 mineral concessions that cover 2,643.82 hectares of highly prospective geological units for gold mineralization. The Quitovac mineralized area is classified with the other orogenic shear zone gold deposits of the region including the gold mines of Mesquite, La Choya (8kms south), La Herradura (35 kms south, produced over 425,288 oz Au in 2020), San Francisco, and El Chanate. All these gold deposits are similar in character and are stated to be part of the Mojave-Sonora Megashear.
Thomas A. Doyle, President, CEO, stated “The filing of this agreement in Mexico strengthens Aloro’s position with the Quitovac Mine Project.”
About Aloro Mining Corp.
ALORO MINING CORP.
Per: “Thomas A. Doyle”
For further information, please contact Thomas A. Doyle
Aloro controls the 2,643.82-hectare Quitovac Mine Project located in the prolific Mojave-Sonora Megashear, where a large part of Mexico’s recent gold production is derived. Aloro also controls the 3,199- hectare Los Venados Project, which is located in the central part of the Mulatos Gold District and is directly adjacent to the active Mulatos open pit mine of Alamos Gold Inc. The Los Venados is under US $5,000,000 Option agreement to Alamos Gold Inc.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.