StraightUp Resources (CSE: ST) (OTCQB: STUPF) today announced its entry into a right of exclusivity agreement (“ROE”) with Premier Silver Corp. (“Premier” or “PSC”). According to the update, the ROE provides that StraightUp and Premier will exclusively negotiate an agreement for a period of 60 days, whereby StraightUp will acquire all of the outstanding shares of Premier from the current shareholders. Premier was formed by a group with a combined 100-plus years of experience in the junior mining industry, raising in excess of $700 million in capital and creating more than $1 billion in shareholder value. PSC, in 2020, concluded commercial discussions with Buenaventura Mining Company Inc. (NYSE: BVN) and completed the acquisition of one of the largest silver mining land packages in Peru with over US$120 million in capitalised expenditures: the Mallay Mine & Processing Plant and associated exploration and development assets. “Mallay has been developed, capitalised and permitted by a multibillion-dollar, globally recognised mining company in Buenaventura (NYSE: BVN), a company that adheres to the highest of industry standards. The opportunity to acquire such an asset that provides this level of depth in optionality, as the market begins to aggressively search for projects quick to cash flow with district scale mineral discoveries in a recognised silver district, puts Premier Silver in a unique position to provide the market leveraged exposure to the silver industry. This demand has been demonstrated in Premier Silver raising in excess of $10 million in private funding to date,” said Duncan Gordon, founder and chairman of Premier Silver Corp. “I look forward to continuing our discussions with StraightUp in progressing due diligence and potential corporate transactions.”
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About StraightUp Resources Inc.
StraightUp is engaged in the business of mineral exploration and the acquisition of mineral property assets in Canada and the U.S. Its objective is to locate and develop economic, precious and base metal properties of merit. StraightUp intends to conduct exploration on the RLX North, RLX South, Belanger and Ferdinand Gold Project, all located in the Red Lake Mining Division, as well as the recently acquired Bear Head Gold Project, located within the Meen-Dempster Greenstone Belt of the Uchi Subprovince, approximately 80 kilometers west of the Pickle Lake Gold Camp. The company’s recently acquired West Cat Mine includes an unpatented mining claim on federal land, located in the historic Beatty Mountain Nevada Mining District/Nye County, Nevada, about 15 kilometers east of U.S. Route 95, approximately 20 kilometers from Beatty, Nevada, at the base of the Bare Mountain Range. For more information, visit www.StraightUpResources.com.
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