Tarachi Gold Corp. presented an update on the progress of its Magistral Mill and Tailings Project ("Magistral") in Mexico as well as other ongoing corporate development initiatives. The final stages of metallurgical test work, to support engineering and design of the planned modifications to the existing Magistral Mill, are nearing completion at SGS Lakefield.

Results were originally expected by the last week of June, however due to delays at the laboratory, those results are now scheduled for mid-July with a final report by Ausenco Engineering Canada Inc. ("Ausenco") anticipated within the next few weeks. The work currently underway at the lab is specific to the SART (sulphidation, acidification, recycling and thickening) circuit that Tarachi intends to add to the existing facility which is consistent with the development plan outlined in the PEA. The addition of the SART circuit will not only allow for more efficient recovery of gold from the pregnant leach solution but will also reduce cyanide consumption and generate a high-grade copper concentrate by-product.

The Company anticipates that design and engineering activities will commence upon receipt of the final metallurgy work with Ausenco. Submissions of permit amendments and updates are also pending the final design information and are expected to follow later in the year.