Medgold Resources Corp. announced that it has entered into two definitive agreements with Fortuna Silver Mines Inc. (Fortuna'), to acquire Fortuna's 51% interest (the Interest') in the Tlamino Project, located in Serbia (the Project'). The first such agreement terminates the Option Agreement (the Option') entered into between the parties on December 15, 2020 that provided for Medgold to acquire the Interest for a cash consideration of USD 3.468 million and the second, which converts the Interest to a 1% Net Smelter Return royalty (the Royalty') in favor of Fortuna.
All obligations under the terms of the Option have been extinguished. The Royalty may be purchased at any time for a cash consideration of $3 million dollars. The agreements are subject to TSX Venture Exchange acceptance.