Goldcorp Sells Camino Rojo Oxide Project to Orla Mining

June 21, 2017

Goldcorp has entered an agreement to sell its 100% interest in the Camino Rojo oxide project in Zacatecas, Mexico to Orla Mining Limited.

Under the terms of the deal, Goldcorp will receive: 19.9% of the issued and outstanding common shares of Orla, a 2% net smelter return royalty on revenues from all metal production from the project, with the exception of metals produced under a joint venture with Orla, and an option to acquire up to a 70% interest in future sulphide projects, as well as the right to nominate a director to Orla’s Board for as long as Goldcorp’s equity ownership position is greater than 10%. The transaction is subject to customary closing conditions and is expected to close in the second half of 2017.

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By Stephen Holmes

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