Unico Silver Limited signed an agreement to acquire Sierra Blanca S.A. from Austral Gold Limited and Capella Minerals Limited.

Unico Silver Limited (ASX:USL) signed an agreement to acquire Sierra Blanca S.A. from Austral Gold Limited (ASX:AGD) and Capella Minerals Limited (TSXV:CMIL) on May 20, 2024. The consideration payable by Unico Silver Limited for the acquisition is 5 million fully paid USL Shares to be issued and allotted on the completion date of the Agreement. and required to pay a cash amount equal to reimburse certain administrative fees to be paid on the competition date of the agreement which is AUD 0.02 million.

The transaction is subject to obtaining approval from USL shareholders for issue of consideration shares to Austral Argentina. Sierra Blanca S.A. is the owner of the Sierra Blanca Project.