VANCOUVER, Dec. 22, 2016 /CNW/ - Sonoro Metals Corp., ("Sonoro" or the "Company") (TSXV: SMO), is pleased to announce that it has closed the sale of the Company's Chipriona project in Mexico to Agnico Sonora, S.A. de C.V. ("Agnico"), a subsidiary of Agnico Eagle Mines Limited; the details of which are disclosed in the Company's news release dated December 14, 2016. Sonoro has now received the first payment under the assignment agreement with Agnico in the amount of $650,000. Three additional sequential installments of $650,000, $800,000 and $1,900,000 respectively are due and payable over the coming months following registration of title at Mexico's Public Registry of Mining, commencing with the registration of title from the original vendors through to final registration under Agnico. This disposition by the Company has been accepted for filing by the TSX Venture Exchange.
About Sonoro Metals Corp.
Sonoro Metals Corp. is a TSX Venture Exchange listed ("SMO-TSXV") exploration and development company with a portfolio of precious metals properties in Sonora, Mexico and Alaska, USA. Sonoro's skilled exploration team in Mexico is headed by Hermosillo-based Chief Geologist Melvin Herdrick, with 45 years of mine related experience, including 10 years as Chief Geologist for Phelps Dodge in Mexico followed by 7 years as Vice President, Exploration for Pediment Gold in Mexico until its takeover by Argonaut Gold in 2011. Sonoro's Chief Operating Officer is professional geologist Stephen Kenwood, with over 20 years of experience in mineral exploration and development.
On behalf of the Board of SONORO METALS CORP.
Per: "Kenneth MacLeod"
President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
SOURCE Sonoro Metals Corp.
For further information: Sonoro Metals Corp. - Tel: (604) 632-1764, Email: email@example.com