Santa Elena

First Majestic Silver Corp.

PHOTOS
INFO

The Santa Elena Mine is operated by First Majestic Silver Corp. (TSX:FR) and is located in northern Mexico approximately 150 kilometres northeast of Hermosillo in Sonora State. Santa Elena is classified as a high level, low sulphidation epithermal system and further exploration of the mine is focused on a single, relatively wide vein with increasing grades as it plunges. Santa Elena began as an open pit, heap leach operation and transitioned to underground mining in early 2014. First Majestic has projected Santa Elena to produce 4.6 to 5.1 million AgEq ounces in 2016.

Terms

Sandstorm has a gold stream agreement to purchase 20% of the life of mine gold production from Santa Elena for a per ounce cash payment equal to the lesser of US$357 and the then prevailing market price of gold. Sandstorm made an upfront payment of US$12 million in cash and 700,000 common shares (3.5 million pre-consolidation) to acquire the stream from SilverCrest Mines Inc. in May 2009. First Majestic acquired SilverCrest in October 2015.

In February 2014, Sandstorm exercised its underground mine option with SilverCrest, allowing the company to purchase 20% of the payable gold from underground. For consideration, Sandstorm made a $10 million payment  and will continue to make on-going per ounce payments equal to US$357 until 50,000 ounces of gold have been delivered to Sandstorm (inclusive of ounces already received from open-pit production), at which time the on-going per ounce payments will increase to US$450.

Key Streams & Royalties

DEVELOPMENT-STAGE
PRODUCING
ALL
Chapada | Yamana Gold Inc. Chapada | Yamana Gold Inc.
Black Fox | Primero Mining Corp. Black Fox | Primero Mining Corp.
Santa Elena | First Majestic Silver Corp. Santa Elena | First Majestic Silver Corp.
Bachelor Lake | Metanor Resources Inc. Bachelor Lake | Metanor Resources Inc.
Karma | Endeavour Mining Corp. Karma | Endeavour Mining Corp.
Cerro Moro | Yamana Gold Inc. Cerro Moro | Yamana Gold Inc.
Ming | Rambler Metals & Mining PLC Ming | Rambler Metals & Mining PLC
Hugo North Extension and Heruga | Entrée Gold Inc. Hugo North Extension and Heruga | Entrée Gold Inc.
Diavik | Rio Tinto plc Diavik | Rio Tinto plc
Hot Maden | Lidya Madencilik Hot Maden | Lidya Madencilik
Hackett River | Glencore plc Hackett River | Glencore plc
Lobo-Marte | Kinross Gold Corp. Lobo-Marte | Kinross Gold Corp.
Aurizona | Luna Gold Corp. Aurizona | Luna Gold Corp.
Bracemac-McLeod | Glencore plc Bracemac-McLeod | Glencore plc
Copper Mountain | Copper Mountain Mining Corp. Copper Mountain | Copper Mountain Mining Corp.
Gualcamayo | Yamana Gold Inc. Gualcamayo | Yamana Gold Inc.
Emigrant Springs | Newmont Mining Corp. Emigrant Springs | Newmont Mining Corp.
Ağı Dağı and Kirazli | Alamos Gold Inc. Ağı Dağı and Kirazli | Alamos Gold Inc.
MWS | Anglogold Ashanti Ltd. MWS | Anglogold Ashanti Ltd.

Corporate Head Office

Suite 1400
400 Burrard Street
Vancouver, BC | V6C 3A6 Canada

604.689.0234
1.866.584.0234
604.689.7317

info@sandstormLTD.com
www.sandstormLTD.com

Investor Relations

Denver Harris

604.628.1178
1.866.584.0234 ext. 254

dharris@sandstormLTD.com
request more info