Ranchero provides update on disposition of Santa Daniela property

Ranchero Gold announced that further to its press releases dated December 27, 2023 and January 18, 2024 the Company held a special meeting of its shareholders on February 22, 2024 to seek approval for the disposition by Minera y Metalurgia Paika, S.A. de C.V.’s, a subsidiary of Ranchero, interests in four mineral licenses covering the Company’s Santa Daniela property. A total of 41,653,711 common shares, representing 63.36% of the Company’s outstanding shares were represented at the special meeting. The resolution put to shareholders related to the Disposition passed, with 99.99% of the shareholders represented at the meeting voting in favor. The Disposition remains subject to final TSX Venture Exchange approval. Furthermore, the remaining US$1,892,000 near-term cash payment will only be paid when the licenses have been officially transferred to Minas de Oro Nacional, S.A. de C.V., a wholly-owned subsidiary of Alamos Gold Inc. Separately, further to the press release dated November 21, 2023 related to the option agreement entered into between the Company and Rechange Resources Ltd., pursuant to which the Company has an option to acquire a 100% interest in the Pinchi Lake property, the Company has received confirmation from the TSX Venture Exchange of conditional approval for the Acquisition. The Acquisition is subject to the final approval of the TSX Venture Exchange, which includes the preparation and submission of a geological report and title opinion, both of which are in preparation.