Stroud Resources Ltd. Announces Reduction of Future Royalty on Its Santo Domingo Silver Property, Mexico
TSX VENTURE: SDR
TORONTO, Sept. 06, 2019 (GLOBE NEWSWIRE) -- Stroud Resources Ltd. (TSXV-SDR) (“Stroud” or “Company”) is pleased to announce it has come to an agreement with Eagle Graphite Incorporated (“Eagle”) to reduce the future royalty payable on its Santo Domingo silver property in Jalisco, Mexico (the “Project”).
The royalty has been reduced from 5% to 2.5% of net smelter returns, and the maximum amount has been reduced from CAD $1,000,000 to a maximum of CAD$500,000. Stroud has the right to purchase the remaining Royalty from Eagle for CAD $300,000 at any time prior to August 21, 2021. Stroud paid CAD $100,000 to complete the agreement.
Stroud is moving its Santo Domingo Project forward and is taking steps to improve the economic viability of the Project.
About Stroud Resources Ltd.
Stroud Resources is a TSX-V listed company focused on the exploration and development of its Santo Domingo epithermal silver-gold project in central Mexico.
About Eagle Graphite Incorporated
Eagle Graphite (TSXV:EGA) owns the Black Crystal graphite project in Passmore, British Columbia. Black Crystal is the only permitted and constructed flake graphite quarry in Western North America, located 35 kilometres west of the city of Nelson and 70 kilometres north of the state of Washington, USA.
For more information please visit www.stroudsilver.com
ON BEHALF OF THE BOARD OF DIRECTORS OF STROUD RESOURCES LTD.
CFO and Director
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