TORONTO, Sept. 17, 2019 (GLOBE NEWSWIRE) -- Stroud Resources Ltd. (TSXV-SDR) (“Stroud” or “Company”) is pleased to announce it has reached an agreement to reduce the future royalty payable on its Santo Domingo silver property in Jalisco, Mexico (the “Project”).
The royalty has been reduced from 1% to 0.5% of net smelter returns, and the maximum amount has been reduced from USD $2,320,000 to a maximum of USD $1,160,000. Stroud has the right to purchase the remaining Royalty for USD $685,000 at any time prior to September 7, 2021. Stroud paid USD $25,000 and another USD $210,000 is payable upon the Company closing its previously announced private placement financing.
Stroud continues to move its Santo Domingo Project forward and further improve the economic viability of the Project.
About Stroud Resources Ltd.
Stroud Resources is a TSX-V listed company focused on the exploration and development of its Santo Domingo epithermal silver-gold project in central Mexico.
For more information please visit www.stroudsilver.com
ON BEHALF OF THE BOARD OF DIRECTORS OF STROUD RESOURCES LTD.
CFO and Director
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