Latin Metals sold the Mina Angela Gold Project to Patagonia Gold and retains a 1.25% net smelter return (NSR) royalty on future production.

The transaction includes a US$500,000 cash payment payable upon the Chubut Province lifting mining bans in such a manner that Patagonia thereafter has the ability to perform exploration and exploitation mining activities on the Project, irrespective of whether Patagonia has obtained the required permits for such exploration and mining activities or the actual performance of such activities. In addition, to the retained royalty interest.