VANCOUVER, British Columbia, May 30, 2025 (GLOBE NEWSWIRE) — Patagonia Gold Corp. (“Patagonia” or the “Company”) (TSXV: PGDC) announces its financial results for the quarter ended March 31, 2025 (“Q1 2025”). The financial statements together with the related management’s discussion and analysis are available on the Company’s website and under the Company’s profile on SEDAR+ at www.sedarplus.ca.
Highlights
- Generated revenue of US$1.2 million in Q1 2025.
- Produced 613 gold equivalent ounces(1) and sold 418 gold equivalent ounces(1) in Q1 2025.
- Incurred exploration expenditures of US$0.5 million in Q1 2025 including completion of:
- A total of 380 meters were drilled in 8 diamond drill holes at Calcatreu, specifically in the Piche Sur, Nelson Sur and Belen W targets – all of which are deemed to have mineral resource expansion potential.
- A total of 366.1 line-kilometers of geophysics was carried out on the target Masqui in the south of the main Calcatreu block.
- At La Valenciana, in the province of Santa Cruz, a total of 66 line-kilometers of ground magnetics surveying was completed and a total of 63 rock chip samples were collected from the Veta Principal during Q1 2025.
- A total of 401.9 line-kilometers of ground magnetics surveying was completed at La Josefina.
- The Company has commenced construction of the Company’s Calcatreu heap leach facility in Rio Negro during Q1 2025. Completion of construction of Calcatreu is targeted for Q4 2025 with first leaching before the end of 2025.
Notes:
(1) Consisting of 387 gold and 21,060 silver ounces of production and 252 gold and 14,978 silver ounces sold, converted to a gold equivalent using a ratio of the average spot market price for the commodities each period. The ratio for three months ended March 31, 2025 was 90.05:1 (2024 – 88.70:1).
Qualified Person’s Statement
Donald J. Birak, an independent consulting geologist, Registered Member of SME, Fellow of AusIMM, and qualified person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical information in this news release.
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 375 properties in several provinces of Argentina and is one of the largest landholders in the province of Santa Cruz, Argentina.
For more information, please contact:
Christopher van Tienhoven, Chief Executive Officer
Patagonia Gold Corp.
T: +54 11 5278 6950
E: cvantienhoven@patagoniagold.com
FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements, including, but not limited to, statements with respect to, among other things, mineral resource expansion potential; timing for completion of the heap leach facility and commencement of leaching; the 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 news release.
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