Capitan Silver Buys Fresnillo Concessions, Expands Cruz de Plata

Canada-based exploration company Capitan Silver executed a definitive agreement with Minera Fresnillo to acquire a 100% interest in a property package next to its Cruz de Plata silver project in Durango.

The acquisition consists of seven mineral concessions totaling 2,171.4ha, which directly surround the existing Cruz de Plata project. The company stated this transaction increases its total land position in the district by approximately 85% and extends the known surface expression of the silver-gold trend by 1.2km to a total of 3.7km.

The total purchase price for the properties is US$4 million, to be paid in two cash installments. The first installment of US$2 million has already been paid upon the execution of the definitive agreement. The second and final payment of US$2 million is payable on or before the second anniversary of the closing. The deal includes no royalties or share payments.

Capitan Silver noted that the newly acquired ground allows for the consolidation of the land package and provides additional area for potential infrastructure development and project design optimization.

The agreement will now be submitted to the Public Registry of Mines for final approval from authorities. The definitive agreement follows a non-binding Letter of Intent that was previously announced on June 9, 2025. "This is a transformative step for Capitan Silver. By consolidating ownership of this highly prospective corridor, we not only expand our exploration footprint by 85%, but also unlock significant development potential with continuity across the district. This transaction positions the company strongly for the next phase of growth through further exploration at Cruz de Plata,” said Alberto Orozco, President and CEO, Capitan Silver, at that time.