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Tamino Minerals to acquire Ofelia gold-silver-copper project in Mexico

Tamino Minerals Inc. said Dec. 11 that it inked a letter of intent to acquire 100% ownership of a gold, silver and copper project named Ofelia, in the state of Sonora in Mexico.

The company said that the purchase would involve making escalating payments of up to US$1.0 million plus 2% net smelter return.

Tamino sees the project to be a potential flagship due to its estimated 100,000 to 200,000 gold equivalent ounces near the surface, equivalent to US$150 million to US$300 million additional revenue to the company.

The company said that it believes the project could have 1 million ounces of gold if only an exploration program would be completed.

The acquisition furthers Tamino's strategy to build its Mexico-based portfolio.