Edmonton, Alberta--(Newsfile Corp. - February 28, 2024) - Peruvian Metals Corp. (TSXV: PER) (OTCQB: DUVNF) ("Peruvian Metals" or the "Company") is pleased to announce the signing of a definitive agreement to acquire a 50% interest in San Maurizo Mines Inc. ("San Maurizo"), a private Manitoba-based company (the "Transaction"). This strategic collaboration paves the way for both entities to collectively develop the promising Mercedes gold-silver-lead-zinc-copper property ("Mercedes" or the "Property"), situated in central Peru.

Upon completion of the Transaction, San Maurizo will hold an exclusive 100% direct interest in the Property via its wholly owned Peruvian subsidiary, Basic Minerals SAC ("Basic Minerals"). Peruvian Metals is set to acquire a 50% stake in San Maurizo by purchasing half of the outstanding shares currently owned by its sole shareholder, Hudson Heartland Ltd. ("Hudson"). The project is subject to a 20% Net Profit Interest ("NPI") which will be eliminated once US$5 million has been paid to the NPI holder. Afterwards, a 1.5% Net Smelter Royalty ("NSR") will be paid to the NPI holder. San Maurizo retains the right to buyout the NSR for US$1.5 million. see & read more on
https://www.newsfilecorp.com/release/199640/