VANCOUVER, Dec. 21, 2012 /CNW/ - Mirasol Resources
Ltd (TSX-V: MRZ, Frankfurt: M8R) ("Mirasol" or the
"Company") is pleased to announce that it has successfully
completed the sale of its 49% interest in the Joaquin silver-gold
project located in Santa Cruz
Province of Argentina (the
"Joaquin Project") to Coeur d'Alene Mines Corporation ("Coeur")
(NYSE:CDE; TSX:CDM), for consideration of US$60,000,000, as previously announced on
December 11, 2012. The transaction
was carried out through the sale of the Company's Argentine
subsidiary which holds a 49% interest in the Joaquin Project.
One-half of the purchase consideration was paid
in cash at closing (US$29,000,015,
with a US$1,000,000 holdback) and the
balance was paid by the issue of 1,310,043 shares of unregistered
common stock in the capital of Coeur, based upon a 10 day
volume-weighted average price of US$22.90 per share (the "Stock Consideration").
The Stock Consideration will be held in escrow by Computershare for
up to 60 days from the closing date, pending completion of Coeur's
due diligence related to the Joaquin Project.
Haywood Securities Inc. acted as financial
advisor to the Company in connection with this transaction.
Mirasol is focused on the discovery, exploration
and acquisition of high-potential precious metals deposits in the
Americas, utilizing leading edge technology for strategic
advantage. Mirasol currently holds 100% of the rights of
eight active exploration projects and twelve early-stage precious
metals prospects in Santa Cruz
Province, in the Patagonian region of southern Argentina, identified through the Company's
proprietary exploration. Strategic joint ventures and
partnerships with producers have enabled Mirasol to pursue success
in project generation. In addition, Mirasol holds 100%
interest in the Rubi copper-gold porphyry target, strategically
located in the El Salvador copper
mining district, northern Chile. Mirasol operates through
subsidiary companies in Argentina
and Chile and is engaged in
generative exploration in high-potential regions elsewhere in the
Americas. For further information, visit Mirasol's web page
at www.mirasolresources.com
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
SOURCE Mirasol Resources Ltd.