Axo Copper Corp. Acquires San Antonio Gold Project

Axo Copper Corp. has finalized a purchase agreement for the San Antonio Gold Project in Sonora, Mexico, acquiring it from Osisko Development Corp. The deal includes a share issuance agreement with OR Royalties International Ltd. The transaction involves transferring a 100% economic interest through Sapuchi Minera S. de R.L. de C.V., subject to customary conditions. Upon completion, Axo Copper will issue shares to Osisko and OR Royalties, targeting ownership stakes of 9.99% and 4.99% respectively.

San Antonio features high-grade oxide resources and extensive infrastructure, with historical data and recent drilling supporting its potential. An amended stream agreement outlines payments for gold and silver based on production milestones. The acquisition aligns with Axo's strategy to expand its mining operations, adding to its existing La Huerta project, with significant exploration potential across the 11,338-hectare land package.