Golden Arrow Resources acquired mining concessions from Sumitomo

Golden Arrow. Mining concessions acquisition from Sumitomo

1.       Deal Description

Guerrero Olivos represented New Golden Explorations Chile SpA, and its holding Golden Arrow Resources Corporation, in the acquisition of a 100% interest in the San Pietro Iron-oxide Copper Gold Project (formerly known as Radiss) in Chile, from Sumitomo Metal Mining Chile Ltda., for USD3.35 million.

Also, New Golden Explorations Chile SpA agreed to pay a 5% royalty for the incomes obtained from the minerals extracted from said mining concessions.

Complexity to this assistance was negotiation with holding companies in the different jurisdictions (Canada and Japan).

2.       Counsel list

Counsel to Golden Arrow: Guerrero Olivos

Partners: Marco Zavala and Benjamín Pérez

Associate: Jerónimo Zabala

Other counsels: Blakes and Bofill Mir

3.       Date of closing

16/03/2022

4.       Deal Value

USD3.350.000

5.       Jurisdictions involved

Chile, Canada and Japan