Approval On The San Marcial Option Agreement
VANCOUVER - Goldplay Exploration Ltd. reported approval on the option agreement between the Company, its subsidiary and a subsidiary of SSR Mining Inc. under which the Company, through its subsidiary, will acquire a 100% interest in the San Marcial Project ("San Marcial") in Sinaloa State, Mexico.
The Company has also granted SSR Mining the right to purchase common shares in any future equity financing that the Company may complete during the next year. This grant of participation rights will provide SSR Mining the right to purchase that number of common shares being offered by the Company in such financing as is equal to SSR Mining's then percentage interest in the issued share capital of the Company, for the consideration and on the same terms and conditions as offered to the other potential subscribers under such financing.
Marcio Fonseca, Goldplay's Chief Executive Officer, stated, "We are extremely pleased to have completed the San Marcial option agreement. The San Marcial Project together with the El Habal Project form the cornerstone to the discoveries, resource and project developments for Goldplay in the Rosario Mining District.
We have an experienced team working full time on site with >10 years track record of discoveries in the Rosario Mining District, and a modern exploration office set up in Rosario. We look forward to developing a continuous flow of results with the upcoming drilling program, resource updates and business developments.