en.Wedoany.com Reported - Canadian mining company Galore Resources Inc. has issued a strategic update on its Dos Santos project in Zacatecas, Mexico, detailing the latest legal, administrative, and financial developments. The project spans 14,400 hectares and primarily hosts gold, silver, and copper resources.
Following the completion of an independent legal due diligence by Mexican law firm RB Abogados on May 7 of this year, the company's management informed shareholders of progress in protecting core assets. A key milestone was a favorable ruling by the Federal Administrative Court of Mexico regarding the Sta. Fe 3 mining concession (approximately 9,761 hectares). The concession had previously been canceled by the General Directorate of Mines (DGM) due to alleged outstanding debts, but the court overturned the cancellation on the grounds of lack of formal notification. This ruling restores access to the "La Palma" area, one of the priority exploration targets within the mining complex.
Meanwhile, subsidiary Minerales Galore is legally challenging the cancellation of the Sta. Fe 4 Fracc. 2 mining concession, with similar claims of nullity still under review. The concession review also revealed anomalies in the Public Mining Registry (RPM), where the Los Gemelos I and Duende 7 concessions were fraudulently registered under third parties through forged documents. Leveraging the validity of a 2011 transfer agreement and a favorable judicial ruling obtained in June 2025, Galore Resources has initiated proceedings with the DGM and RPM to physically recover the formal registration of these lands.
On the financial and operational front, the company completed tax compliance for six strategic mining concessions (Carboneras, San José, Los Gemelos I, Duende 4, Duende 5, and Duende 7), covering tax payments through the first half of 2026. To achieve this, the company entered into a $150,000 loan agreement with a shareholder at an annual interest rate of 12% for a one-year term, while also managing discounts on tax surcharges. Subject to TSX Venture Exchange approval, the lender will receive 1.5 million warrants to purchase common shares at a price of CAD $0.10 per share. Through these actions, Galore Resources has reduced historical uncertainties surrounding the Dos Santos project, laying the groundwork for evaluating operational partnerships and resuming exploration activities.
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