Coeur Mining, Inc. (Coeur) announced that its subsidiary, Coeur Mexicana, S.A. de C.V., has signed a purchase agreement with a subsidiary of Fresnillo plc (Fresnillo) to acquire mining concessions adjacent to the Palmarejo gold-silver complex located in the state of Chihuahua, Mexico.

Coeur is set to make a payment of approximately US$25 million in cash and future royalties tied to specific ounces discovered on the acquired concessions. A royalty fee of US$25 per ounce will be applicable to the concessions for each newly discovered resource ounce of gold equivalent (AuEq) falling within the range of 450,000 to two million AuEq ounces. These concessions are situated adjacent to Coeur's Palmarejo gold-silver complex in Chihuahua, Mexico, collectively spanning approximately 7,000 acres. The first set of concessions covers expansions in the southeast of the actively mined Independencia and Nacion deposits. Positioned to the northeast, the second set encompasses various prospects with mineralization and historical resources added post the acquisition of Paramount Gold and Silver in 2015. Pending regulatory approvals, the transaction is anticipated to be finalized in 2024.