Para Resources Inc. announced that it has entered into a memorandum of understanding with Mining and Solutions Construction Group S.A. (MISCON) whereby the parties have outlined their mutual intentions to enter into a proposed strategic alliance and earn-in agreement concerning MISCON's Finaris Mine and associated concessions as well as the Las Lomas de Casma processing plant, both located in the District of Coris, Province of Aija, Peru. The properties are located approximately 345 km from Lima, Peru. Para has agreed, subject to due diligence to invest an amount of capital and expertise, expected to be between USD 5 million to USD 7 million, consistent with a plan to be developed and mutually agreed to by the parties, in improvements and expansion of the Assets to increase production of the Assets. Para will provide know-how, technology and related administration to achieve the mutually agreed to project goals. Upon the completion of the project, Para will earn up to a 50.1% ownership interest in the assets and the project. If the value of PARA's contribution does not meet the agreed to project budget, the difference will be paid to MISCON in the form of either a cash payment or an equivalent value of PARA shares, or any combination of the two at the discretion of MISCON and subject to TSXV approval in the case of any Para share issuances. PARA may earn an additional 25% interest in the assets upon the achievement of mutually agreed production goals and other milestones that increase the value of the assets, to be set at the conclusion of the due diligence period. When and if PARA earns a 75% interest in the Assets, MISCON will have the option, at its sole discretion, to sell the remaining 25% ownership in the Assets to PARA at fair market value, in cash or in common shares of PARA, or any combination thereof.