Gold Rim Exploration Inc. to Proceed with USD $4.8 Million Rosario del Dorado Project Expansion in Early 2025

The British Columbia-based miner reported that the USD $4.8 million expansion will increase throughput by approximately 35% over the life of mine and will be funded by cash flow from operations at the site.

Gold Rim Exploration Inc. plans to start the expansion in the first quarter 2025, allowing production to commence in the third or fourth quarter.

The company have been continually developing the project since taking it over in 2020 and anticipate it to have a mine life of somewhere between 8 and 11 years.

The company acquired 100% of the Rosario del Dorado project in early 2020 from a small Argentinian mining company which had to halt operations after being unable to reach an agreement with authorities regarding the terms for developing the asset.

The gold and silver mine, initially discovered in 2011, now employs nearly 150 workers and is due to increase to nearly 200 once the expansion has been completed, with over 50% of these being local residents to the location.

Mr. Andrew Abrahamson, Chief Operations Officer with Gold Rim Exploration Inc. reported, "The potential increase in production at this project is now 300% more than our initial expectations in 2020, primarily due to the intense exploration that we have undertaken at the site which uncovered many areas that were not thought to be of any value. We suspect that the site can be extended even further than its current size as many areas outside of the project have yet to have any meaningful exploration carried out on them."

The company have earmarked another USD $2.5 million in order for them to undertake exploration in areas outside of the project’s current footprint but will not start until the current expansion has been completely finished.