Platauro Metals Corp. has agreed to amend the option terms for the Star Project in Beaver County, Utah, restructuring remaining cash payments, share issuances, and exploration expenditure commitments held through its wholly-owned subsidiary Alcon Silver Corp.

Under the proposed Second Amending Agreement, subject to TSX Venture Exchange acceptance, Platauro will issue up to 2 million common shares to the optionor, with 500,000 shares due on or before September 30, 2026. An additional 500,000 shares are scheduled for the second anniversary of the option agreement, followed by 1 million shares on or before the third anniversary.

Alcon holds an exclusive option to acquire an undivided 100% interest in the unpatented lode mining claims, subject to a 2% net smelter returns royalty. Platauro does not assume any obligations or liabilities of Alcon under the arrangement, with share issuance duties arising only for specific tranches that Alcon elects to satisfy. Each share issuance requires exchange acceptance and carries a statutory hold period of four months and one day.

Total cash payments under the option total US$200,000. Following an initial US$15,000 payment made within six months of the effective date, Platauro funded the second US$25,000 instalment on behalf of Alcon. Remaining cash obligations comprise US$50,000 due on or before the second anniversary and a final US$110,000 payment due on or before the third anniversary.

To advance the property, Alcon must incur at least US$1 million in aggregate exploration expenditures. The schedule requires US$300,000 in expenditures by the second anniversary, followed by the remaining US$700,000 on or before the third anniversary.

Platauro includes the Star Project as part of a diversified precious metals portfolio spanning Peru, Mexico, and the United States following its formation through the July 2026 combination of Mexican Gold Mining Corp. and Alcon Silver Corp. Activity in the surrounding Beaver County district is also advancing, where Diablo Resources Limited commenced a maiden diamond drilling program at its nearby Star Range project.

Read the full announcement: Platauro Metals Corp. - Star Project, Utah