Bendito Resources Announces Completion of Acquisition of Azure Mineral’s Mexico Assets and Provides Corporate Updates

RENO, Nev. and TORONTO, July 27, 2022 /PRNewswire/ — Bendito Resources Inc. (“Bendito”, the “Company” or “we”) is pleased to announce that the July 22, 2022, it has completed the previously announced share purchase transactions (the “Transaction”) to acquire a diversified portfolio of Mexican projects from Azure Minerals Limited (“Azure”). For more information on the Transaction, please refer to the previously published press release dated May 31, 2022, which is published on the Bendito website. On July 18, 2022the 20 million Australian dollars The transaction has been amended as follows:

Bendito and Azure have amended the terms of the Transaction to change the initial consideration paid to Azure to A$8.0 millionmade up of A$4.0 million cash (formerly A$6.0 million cash) and A$4.0 million shares (formerly AU$2.0 million of shares). The consideration for the second tranche, which remains payable within 18 months of the closing of the transaction, will now total A$12.0 million and consist of A$6.0 million cash and A$6.0 million of shares. The aggregate consideration for the Transaction payable to Azure of A$20.0 million did not change.

Bendito is currently pursuing another $3.5 million funding to advance acquired projects. Upon completion of its financing process, Bendito plans to begin drilling activities at its Alacran and Oposura projects. To AlacranThe Company’s strategy is two-pronged: the expansion of gold and silver mineral resources at near-surface targets, linking Saint Simon at Loma Bonita and Mesa de Plata; and continue exploration of copper porphyry targets in the southern and southeastern parts of the Alacran property. At Oposura, the Company’s drilling will initially focus on regional geological potential to determine the scale of zinc-lead-silver mineralization outside of historical resource areas. Bendito plans to prepare technical reports on the two Alacran and Oposura, followed by mineral resource statements in Q1 2023, including the Company’s 2022 drilling campaigns. Both Alacran and Oposura have dated JORC Mineral Resource Statements May 12, 2017 (Mesa de Plata) and you June 1, 2018respectively that have been prepared on behalf of Azure.

Mr. John AnwiChairman and CEO of Bendito, said: “The Bendito team is very pleased to close this transaction and thanks Azure and its shareholders for their support and vote of confidence in the transaction and our business plan. We welcome all Mexico Azure Minerals employees, contractors and local stakeholders at Bendito Resources. We have a target-rich geological environment and our team sees many opportunities to add substantial value to projects. I look forward to providing many meaningful updates over the coming months on our efforts, progress and milestones as our team advances the new Bendito project portfolio. I am also very honored to welcome potential new investors to the Company.

About Bendito Resources Inc.

Bendito Resources Inc. is a privately held mineral resources company formed and led by experienced mining and exploration executives headquartered in Reno, NevadaUnited States and regional offices in Hermosillo, Sonora, Mexico. The Company wholly owns a portfolio of diversified mining projects in Mexicowhich includes the Alacran and the Oposura projects, both of which have previously reported mineral resources. The Mexican real estate portfolio includes the Company’s mining interests only. For more information, please visit the Company’s website at www.benditoresources.com or contact the Company using the details below:

John Anwi
President and CEO
[email protected]
(775) 340-2719

Bendito Resources
6490, boul. S McCarran
Building E, office 121
Reno, Nevada 89509

Jeff Stieber
Financial director
[email protected]
(775) 250-0300

Forward-looking statements

This press release contains certain forward-looking statements that reflect management’s current beliefs and/or expectations regarding future performance, business and events, including the completion of the development of the Mexican real estate portfolio and the expected timing thereof. this ; the growth potential of the Mexican project portfolio; the intended direction of the project and exploration capital; the anticipated operational and strategic plans relating to the Alacran Project and the Oposura Project and the timing thereof; the timing and expected amounts of future fundraising efforts; and the timing of a resource estimate and related technical report for the Alacran Project and the Oposura Project.

Forward-looking statements are based on then-current expectations, beliefs, assumptions, estimates and forecasts about the business, industry and markets in which the Company operates. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Accordingly, readers should not place undue reliance on forward-looking statements and information, which are qualified in their entirety by this cautionary statement. The Company undertakes no obligation to publicly disclose any revision to update any voluntary forward-looking statement, except as required by applicable securities law.

SOURCE Bendito Resources Inc.

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