Azucar Minerals Ltd. Enters Joint Venture with Almadex Minerals
Vancouver, BC – May 1, 2025 (GLOBE NEWSWIRE) – Azucar Minerals Ltd. (TSX-V: AMZ; OTCQB: AXDDF) has announced a pivotal Option-Joint Venture agreement with Almadex Minerals Ltd., allowing Azucar to acquire a 60% interest in three Nevada properties: Pilot, Confusion Hills, and Red Ring. The transaction requires Azucar to make an initial payment of $100,000 USD, followed by additional payments of $300,000 per project upon meeting specified exploration commitments, including a minimum of 5,000 meters of drilling over five years.
Exploration efforts will focus on the Pilot project, where previous geological mapping suggests promising porphyry mineralization. The Confusion Hills site has delivered early sampling results of up to 7.1 g/t gold, while Red Ring shows significant hydrothermal alteration.
Azucar’s Chairman, J. Duane Poliquin, expressed excitement about refocusing on these high-potential targets within Nevada’s robust mining jurisdiction. The agreement awaits TSX Venture Exchange approval and disinterested shareholder consent, with a meeting scheduled for June 26, 2025. The company anticipates filing a material change report within 10 days of this announcement. Azucar aims to implement immediate exploration activities on this promising land.
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