EuroPacific Announces Amendment to Partnership Agreement with BMP Holding and Indice Crucial Lda

EuroPacific Metals Inc. (TSX-V:EUP)(OTCQB:AUCCF) has announced an amendment to its partnership agreement with BMP Holding and Indice Crucial Lda. Indice Crucial Lda holds the Barrancos Copper-Gold project in Portugal.

The Barrancos project is located 240 km east of Lisbon and covers 54 km2. The new agreement alters the original share purchase arrangements. EuroPacific will now pay BMP €15,000 in cash, 500,000 shares, and 500,000 warrants to get a 60% interest in ICL. An additional €15,000 cash transfer will increase their stake to 80%.

The remaining 20% can be acquired within five years, with a payment of €800,000. Karim Rayani, CEO of EuroPacific, emphasized that the new terms reduce cash expenditures, allowing for expanded exploration on their gold portfolio.

The Barrancos area is geologically significant, with Devonian and Silurian rock formations hosting copper and gold mineralization. EuroPacific continues to drill and explore to solidify their resource estimates and progress towards potential mining operations.

Overall, the amendment aims to streamline exploration expenses while advancing the development of promising mineral prospects in the region.