Vancouver, British Columbia — BRS Resources Ltd. (CSE: BRS) (FSE: B4G) announced a transformative expansion step, signing a non-binding Letter of Intent dated June 20, 2026 regarding a potential acquisition targeting strategic growth into the Mulatos epithermal belt in Sonora, Mexico — a premier mining district that also hosts Alamos Gold's Mulatos mine (3.4 Moz) and Agnico Eagle's La India mine (1 Moz).
The Opportunity: SilverGold Mountain
The LOI outlines preliminary terms for BRS to earn up to a 75% interest in four properties — La Guadalupana F-I and F-II, and El Señor de los Guerreros F-I and F-II — covering a combined 947.7368 hectares in the Mulatos district. The concessions carry a proven swarm of vein structures (Veta 8, Veta 5, Veta 1, Los Pericos, El Aguilillo) with fire-assay gold grades of 2–19 g/t confirmed by independent laboratories over more than eight years, including up to 19.5 g/t Au reported by Minas de Oro Nacional, a subsidiary of Alamos Gold.
Proposed Deal Terms
- Investment of up to US$5,000,000 in exploration and development over a five-year earn-in period
- An NI 43-101 technical report to be delivered within 60 days
- 75% interest earned through US$5,000,000 of expenditure, plus an optional US$5,000,000 payment after five years
- A 3% net smelter return royalty retained by the vendor, with a 2% buyback option for US$3,000,000
- A US$100,000 upfront payment payable upon execution of a definitive agreement
- Right of first refusal granted to BRS on any sale of the vendor's retained interest
Management Commentary
President and CEO Byron Coulthard said the LOI reflects BRS's commitment to pairing sustainable, responsible mining practices with a district-scale opportunity: the company is "not just looking for ounces" at SilverGold Mountain, but aiming to build a cornerstone asset for the company's Mexico portfolio.
Next Steps
The LOI is non-binding and subject to completion of due diligence, negotiation of a definitive agreement, and customary regulatory and exchange approvals. A high-resolution aerial magnetometry survey at La Guadalupana, described in a separate release, is already underway to advance the project toward a maiden drill programme. Full project details, including maps, assay data, and photos, are available on the SilverGold Mountain project site.