Auxico Resources Canada Inc. (CNSX:AUAG) executed a memorandum of understanding to acquire 85% stake in Empresa Minera El Benton S.R.L. from the current owner for $0.14 million on September 12, 2023. The company holds the mining title and rights to the El Benton Mine and adjacent Monte Verde concessions. The consideration entails a $40,000 initial payment, and a payment of $100,000 due on delivery of mining and environmental permits, which are currently being renewed.

Auxico will retain 85% equity interest in the El Benton Mine, including all applicable mining rights, titles, registrations, and licenses. Auxico will likewise retain 85% of profit share under the format of a joint venture (15% profit share to the current property owner) for the exploitation and commercialization of the El Benton Mine, and the same profit share joint venture for the exploitation and commercialization of the Monte Verde concessions, by providing the capital required to operate the properties, which includes the export and sales of tantalum, niobium, lithium and other critical mineral concentrates from the concessions. Mr. Ricardo Sierra acted as technical consultant to Auxia in this transaction.