Welcome To The Exmin Resources HUB On AGORACOM

An interest in multiple opportunities for discovery and production in the mineral rich Sierra Madre Occidental Gold & Silver Belt of Northern Mexico.


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Message: Hochschild Exercises Right of First Refusal to Purchase EXMIN Interest in Moris

Hochschild Exercises Right of First Refusal to Purchase EXMIN Interest in Moris

posted on May 27, 2009 05:36AM
May 27, 2009
Hochschild Exercises Right of First Refusal to Purchase EXMIN Interest in Moris Mine
VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 27, 2009) - EXMIN Resources Inc. (EXMIN) (TSX VENTURE:EXM) announces that it has been notified by Hochschild Mining Plc. (Hochschild) that it will exercise its Right Of First Refusal to purchase EXMIN's 30% interest in Minas Santa Maria de Moris, S.A. de C.V., (MSMM), for U$1.5 million plus IVA, the 15% value added tax in Mexico. MSMM is the Mexican company that owns the assets of Moris mine project.

In late March, EXMIN signed a Letter of Intent to sell its 30% shareholding interest in MSMM to Caza Gold Corp., a private company, which offered to purchase EXMIN's interest in MSMM for U$1.5 million plus IVA. The offer was subject to a Right Of First Refusal by Hochschild, which owns a 70% interest in MSMM and has been the operator of the project since the companies purchased the Moris mine in December, 2006.

Karl J. Boltz, President & CEO stated, "The net proceeds from the sale of the mine will assist EXMIN to recapitalize the Company in a challenging capital financing environment. The Moris mine has not produced any benefit to EXMIN shareholders. The capital raised in the sale of the mine will allow the Company to advance its other projects as Management continues to explore numerous strategic opportunities for the Company."


EXMIN Resources Inc. (EXMIN) is currently focused on the exploration and development of precious metal properties of exceptional merit in the Sierra Madre gold belt of Northwestern Mexico as well as in other highly mineralized areas of Mexico.
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