Tara Gold Finalizes La Currita Agreement and Receives First Option Payment

Tara Gold Finalizes La Currita Agreement and Receives First Option Payment

Tara Gold Resources Corp. announce that it has finalized the option agreement with Coeur d’Alene Mines Corporation that will allow Coeur to earn a 100% interest in the La Currita property adjacent to Coeur’s Palmarejo silver and gold project now in construction in the state of Chihuahua, Mexico.

Under terms of the agreement with Tara Gold, Coeur has made an initial payment of US $250,000 to Tara Gold and will make additional subsequent payments, over the next two years, totaling US $2.75 million to gain 100% interest in the La Currita property. Tara will retain a sliding scale Net Smelter Return (NSR) royalty based on the market price of silver.

The La Currita property borders the southeast end of Coeur’s Guadalupe deposit in the south end of the Palmarejo District, where exploration drilling has been expanding and defining additional mineral resource. A mineralized structure is exposed on surface, at La Currita, for about 1 kilometer, with surface samples returning up to 0.146 ounces per ton gold (5 g/t) and 17.5 ounces per ton silver (600 g/t).

Mr. Francis Biscan Jr., President of Tara Gold Resources, stated, “Coeur d’Alene was the optimal company to recognize and develop the potential of La Currita. For Tara Gold shareholders, La Currita has the potential to provide a regular revenue stream for many years, through the NSR royalty arrangement with Coeur.”

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