10:18 AM EDT, 10/10/2024 (MT Newswires) -- Regulus Resources ( RGLSF ) was eding up early Thursday after saying it has executed an agreement with Compania de Minas Buenaventura to acquire the remaining 30% interest in the Colquirrumi claims in Peru that it did not alrady own.

A statement noted Regulus has granted Buenaventura a 2% NSR over the claims, of which 0.5% can be repurchased within 10 years for US$1 million.

"This agreement consolidates a large portion of land that we know to be mineralized," said CEO John Black. "There is also significant strategic value given that any large mining operation in the district would need to incorporate the Colquirrumi claims to expand resources and layback an open pit. By acquiring the remaining 30% of this claims package, we have grown our 100% owned claims package substantially."

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