VANCOUVER, April 17, 2023 - Patagonia Gold Corp. ("Patagonia" or the "Company") (TSXV: PGDC) announces that the Company's gold room at its Cap-Oeste Project, located in the Santa Cruz province of Argentina, was the target of a robbery in the early morning of April 17, 2023.
The thieves gained access to the site and escaped with doré containing approximately 500 ounces of gold equivalent (AuEq), which represents approximately one month of production from Lomada and Cap-Oeste Projects. No employees were fatally injured during the robbery, although three suffered minor injuries. The robbery has been reported to the appropriate Argentine officials and the Company is working with the authorities to investigate the incident.
The Company has suspended production while it investigates the incident and determines how to implement additional security measures to reduce the likelihood of such an incident reoccurring in the future.
About Patagonia Gold
Patagonia Gold Corp. is a South America focused, publicly traded mining company listed on the TSX Venture Exchange. The Company seeks to grow shareholder value through exploration and development of gold and silver projects in the Patagonia region of Argentina. The Company is primarily focused on the Calcatreu project in Rio Negro and the development of the Cap-Oeste underground project. Patagonia, indirectly through its subsidiaries or under option agreements, has mineral rights to over 430 properties in several provinces of Argentina and Chile and is one of the largest landholders in the province of Santa Cruz, Argentina.
FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements, including, but not limited to: statements with respect to the robbery, including the investigation into the incident, the impact on production, and additional security protocols that may be introduced; advancement and development of gold and silver projects in the Patagonia region of Argentina; and the anticipated growth in shareholder value. Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward- looking statements are made as of the date of this news release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
