Star Metro - Bird River Announces Assignment Agreement to Acquire Mining Rights in Mexico

WINNIPEG, MB / ACCESS Newswire / May 6, 2025 / Bird River Resources Inc. (the "Company") (CSE:BDR) announces its wholly owned subsidiary, Cotton Mining & Processing, S.A. de C.V. ("Cotton") has entered into a master assignment agreement with Ingenieros Mineros, S.A. de C.V., a company existing under the laws of Mexico ("Ingenieros"), dated April 30, 2025 (the "Agreement") whereby Cotton, as assignee, may acquire a 100% interest in the mining concessions named "El Dorado", Title number 166132 (the "Mining Concession Title") upon completion of the Cash Payments (as defined herein).

Pursuant to the Agreement and in consideration of the assignment of the Mining Concession Title (the "Assignment"), Cotton shall pay Ingenieros, a total ofUSD$145,000 via various cash installments (the "Cash Payments"), as follows:

1. USD$22,500 due as of the effective date of the Agreement (the "Effective Date");

2. USD$25,000 due as of 90 days from the Effective Date;

3. USD$25,000 due as of 180 days from the Effective Date;

4. USD$25,000 once certain conditions are completed, including but not limited to: (i) Cotton obtaining satisfactory proof of registration of the Assignment and before the applicable regulatory body; and (ii) Cotton obtaining the necessary drilling permits to exploit the Eldorado mine (the "Mine"), pursuant to the Mining Concession Title;

5. USD$25,000 once certain conditions are completed, including but not limited to receipt of an environmental impact statement from the relevant regulatory body; and

6. USD$22,500 upon the extraction of first ore production from the Mine.

Cotton shall also pay to Ingenieros cash bonus payments contingent on certain milestones being met (the "Bonus Consideration"). The Bonus Consideration is equal to USD$52,500 after the first production shipment of ore from the Mine after successful processing; and additional bonus payments may be paid on a per ton basis contingent on certain thresholds of tonnage of ore being extracted from the Mine.

In connection with the Assignment, Cotton will grant a net smelter royalty to an arm's length finder (the "Finder") in the amount of 1% of net smelter returns (the "NSR"). Cotton may buy back the NSR for USD$1,000,000. The Finder shall also receive a cash payment of up to $14,500, representing 10% of the aggregate price of the Assignment.

Completion of the Assignment is subject to receipt of all necessary corporate and regulatory approvals, as applicable.

About Bird River

Established in 1958, Bird River is a Winnipeg, Manitoba based diversified resource company which currently holds a net royalty smelter interest in a platinum palladium property in the Bird River Sill area of northeastern Manitoba near the Ontario border. Management and the Board of Directors are currently focused on the resource industry. Additional information regarding the Company is available at www.sedarplus.ca.

For further information, please contact:

Jon Bridgman, CEO & Director
Bird River Resources Inc.
Tel: 1-877-587-0777
Email: [email protected]

Cautionary Note Regarding Forward Looking Statements

This news release contains certain "forward-looking statements" within the meaning of applicable securities laws. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends" or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be considered forward-looking statements.

Examples of forward-looking statements in this news release include, amongst others, the completion of the Assignment and ensuing cash payments and the payment of the Bonus Consideration. Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to materially differ from those reflected in the forward-looking statements. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

Neither the CSE nor its market regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this press release.

SOURCE: Bird River Resources Inc.

View the original press release on ACCESS Newswire

P.Lefebvre--SMC