Evrim Resources and Antofagasta PLC have signed an agreement whereby Antofagasta can acquire a 70% interest in Evrim’s Axe property by incurring $50 million in exploration expenditures, making cash payments of $800,000, and completing an NI 43-101 compliant preliminary economic analysis over a ten-year period. Axe is a 50-km2 land package in south-central British Columbia in the gold-copper porphyry belt that hosts Newgold’s New Afton mine, Teck’s Highland Valley mine, and Copper Mountain’s namesake mine. Evrim and Antofagasta have completed an extensive data review and approved a $1 million drilling and exploration program for the spring of 2018.

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