TCC Trenchant Capital Corp

Tarsis Resources Ltd. (TSX VENTURE:TCC) ("Tarsis" and the "Company") is pleased
to announce it has optioned its Erika property, located in southern Mexico, to
Osisko Mining Corporation (TSX:OSK)(FRANKFURT:EWX) ("Osisko"). The Option and
Joint Venture Letter Agreement (the "Agreement") grants Osisko the right to earn
up to a 75% interest by funding exploration and development of the property and
making cash payments to Tarsis. Key terms of the Agreement are as follows:


Initial 51% Interest



- $1,000,000 in cash payments to Tarsis over four years; and
- $4,000,000 in expenditures on the property over four years,
  including a firm first year commitment of $500,000



Additional 24% Interest



- Fund and deliver a Feasibility Study on the property within two years of
  the 51% earn in.



"We are very pleased to have attracted a well-financed and experienced mid-tier
Canadian gold producer such as Osisko to our Erika project," stated Tarsis
President & CEO, Marc Blythe. "Completion of this option and joint venture
agreement demonstrates the quality of the project and Tarsis' commitment to the
'prospect generator' business model supported by our shareholders."


The Erika Gold Project

The Erika property located in Guerrero State, Mexico covers approximately 16,000
hectares. The property is accessed by paved road via Federal Highway 95, which
crosses the eastern boundary of the claims. Acapulco is 150 km south and Iguala
is 47 km north of Erika.


Drilling in 2011 by Tarsis identified Carlin-style gold mineralization hosted in
Cretaceous carbonate and shelf sequence stratigraphy. Elevated gold response
occurs in zones of decarbonisation often accompanied by multi-phase calcite
veining and the presence of arsenic sulphides, orpiment and realgar. Detailed
petrography confirmed the presence of arsenian rimmed pyrite in a number of the
gold bearing zones. Diamond drill hole ER 11-14 returned 10.28 meters grading
1.14 g/t gold (further details can be found on the Tarsis website
www.tarsis.ca). Tarsis also identified several new and untested Carlin-style
gold-in-soil anomalies in prospective stratigraphic and structural settings up
to eight kilometres from the 2011 drill sites.


Elsewhere on the property, extensive clay alteration and argillization, combined
with favourable pathfinder elements suggest the potential for epithermal-style
gold mineralization.


Erika's immediate neighbours in the Guerrero Gold Belt are Torex Gold Resources
Inc. and Newstrike Capital Inc., both of which are exploring skarn and/or
breccia-style gold mineralization. Goldcorp Inc.'s operating Los Filos gold mine
lies 12 km south of the Erika property and is mining skarn-style gold
mineralization. Los Filos is currently Mexico's largest gold mine by output.


The Agreement

Osisko can earn an initial 51% interest in the Erika property by making the
following cash payments to Tarsis:




- $50,000 after execution of the Agreement;
- $100,000 on or before the first anniversary of the Agreement;
- $150,000 on or before the second anniversary of the Agreement;
- $300,000 on or before the third anniversary of the Agreement; and
- $400,000 on or before the fourth anniversary of the Agreement;



and incur expenditures of:



- $500,000 before the first anniversary of the agreement (firm commitment);
- an additional $750,000 before the second anniversary of the agreement;
- an additional $1,000,000 before the third anniversary of the agreement;
  and
- an additional $1,750,000 before the fourth anniversary of the agreement.



After the initial 51% interest has been earned, Osisko can elect to earn an
additional 24% interest (total 75%) by funding and delivering a Feasibility
Study. Osisko can also accelerate these payments at its option in order to earn
in sooner. Osisko is the operator of the project during the initial earn in
phase and during the joint venture as long as it has at least 50% interest in
the project.


The technical information contained in this press release was prepared by Mr.
Marc G. Blythe, P.Eng., the President and CEO of Tarsis Resources Ltd. Mr.
Blythe is a Qualified Person as defined by NI 43-101.


About Osisko Mining Corporation

Osisko Mining Corporation operates the Canadian Malartic Gold Mine in Malartic,
Quebec and is carrying out aggressive exploration and project development
elsewhere in Canada and Latin America.


About Tarsis Resources

Tarsis is an exploration company following the prospect generator business
model. The Company acquires prospective exploration projects by acquisition or
through its own grass roots generative exploration, adds value and then vends or
options out projects to partners for advancement.


On behalf of the Board,

Marc G. Blythe, P.Eng., MBA, President and Chief Executive Officer

This news release was prepared by Company management, which takes full
responsibility for content.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Tarsis Resources Ltd.
Marc G. Blythe, P.Eng., MBA
President and Chief Executive Officer
(604) 689-7644


Tarsis Resources Ltd.
Mark T. Brown, C.A.
Chief Financial Officer
(604) 687-3520
info@tarsis.ca
www.tarsis.ca

Trenchant Capital (TSXV:TCC)
Gráfica de Acción Histórica
De May 2024 a Jun 2024

Trenchant Capital (TSXV:TCC)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024