Aloro Mining Corp – TSXV: AORO | OTC: WLRMF | FWB: 4LPP

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Aloro Mining Corp – TSXV: AORO | OTC: WLRMF | FWB: 4LPP

Price: $0.055 CAD - $0.015 USD – €0.024 EUR
Common Shares: 55.1 Million
Warrants: Nil
Options: 400,000 @ $0.10
Held By Management & Major Shareholders: 49%
All information found in the 2023 company presentation:

https://aloromining.com/site/assets/files/5248/aloro_mining_corp__presentation_march_2023v2.pdf

Company description:

Aloro controls the 2,643.82-hectare Quitovac mine project, located in the prolific Mojave-Sonora megashear, where a large part of Mexico's recent gold production is derived. Aloro also controls the 3,199-hectare Los Venados project, which is located in the central part of the Mulatos gold district and is directly adjacent to the active Mulatos open-pit mine of Alamos Gold Inc. The Los Venados project is under a $5-million (U.S.) option agreement to Alamos Gold.

Quitovac was acquired after the third quarter results. Year end results are to be released end of April which will have more information regarding the asset. Los Venados is a joint venture project between Aloro Mining and Alamos Gold. More information can be viewed in their March 2023 company presentation.

Recent News:

October 14, 2022 - Aloro Provides Los Venados Option Update

https://aloromining.com/news/news-releases/aloro-provides-los-venados-option-update/

January 31, 2023 - Aloro to Acquire the Historic Quitovac Mine Project

https://aloromining.com/news/news-releases/aloro-to-acquire-the-historic-quitovac-mine-project/

March 20, 2023 - Aloro Announces Private Placement

https://aloromining.com/news/news-releases/aloro-announces-private-placement-1/

Additional information regarding Quitovac from the prior land owner:

https://cdn-ceo-ca.s3.amazonaws.com/1i0u76n-Santa Cruz Annual Report 1996.pdf

https://cdn-ceo-ca.s3.amazonaws.com/1i0u775-Santa Cruz Gold NR_Qutovac 19970225.pdf

 

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March 2023 Fact Sheet - https://aloromining.com/site/assets/files/5247/aloro_fact_sheet_march_2023v2.pdf

 

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Aloro Mining hires Quitovac project geologist

2023-04-03 06:39 ET - News Release

Mr. Thomas Doyle reports

ALORO CONTRACTS PROJECT GEOLOGIST FOR QUITOVAC

Aloro Mining Corp. has contracted Francisco A. Lopez as project geologist for the Quitovac gold mine project in Sonora, Mexico. Quitovac is located in the prolific Mojave-Sonora Megashear.

Francisco Antonio Lopez (Francisco) is a professional geologist and is a graduate of the University of Sonora. He has more than 30 years experience in the mining industry throughout Mexico.

Francisco is an exploration geologist with experience in all types of geological settings including low and high sulfidation of precious metals, skarns, copper porphyry, stratiform deposits, etc. in several states in Mexico. He has direct experience in the Mojave-Sonora Megashear with orogenic shear zone gold deposits of the region, like Quitovac, including the neighboring gold mine of La Choya (8kms south), where he worked 1986-1987 and again in 1992 for Cobre de Hercules (Anaconda Copper).

Francisco has technical knowledge of all stages of mining exploration including planning, execution, evaluation, logistics, approvals, environmental procedures, supervision and managing of personnel. He is also experienced in community relations and social environments.

Thomas A. Doyle, President, CEO, stated "We welcome Francisco to the Aloro geological team with his years of experience, proven track record in planning and execution of exploration programs to advance projects. Working in collaboration with Technical Advisor, Melvin A. Herdrick, he is a key part of assembling the exploration team for Quitovac. I look forward to updates on the advancement of the project."

About Aloro Mining Corp.

Aloro controls the 2,643.82-hectare Quitovac Mine Project located in the prolific Mojave-Sonora Megashear, where a large part of Mexico's recent gold production is derived. Aloro also controls the 3,199- hectare Los Venados Project, which is located in the central part of the Mulatos Gold District and is directly adjacent to the active Mulatos open pit mine of Alamos Gold Inc. The Los Venados is under US $5,000,000 Option agreement to Alamos Gold Inc.

 

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Aloro Mining signs formal documentation for Quitovac

2023-05-08 07:13 ET - News Release

Mr. Thomas Doyle reports

ALORO SIGNS THE FORMAL DOCUMENTATION IN MEXICO TO ACQUIRE THE HISTORIC QUITOVAC MINE PROJECT

Aloro Mining Corp., through its Mexican subsidiary, Exploraciones Aloro SA de CV, has signed the formal documentation, in Mexico, with Cuesta Del Cobre S De RL De CV of Hermosillo, Sonora, Mexico, to acquire 100 per cent of the Quitovac gold mine project.

The Mexican agreement has been signed by representatives of both Exploraciones and Cuesta Del Cobre, notarized, and will be filed with the Registro Publico de Mineria, Mining Public Registry. The agreement will govern the terms of the mining exploration and exploitation contract, and the mineral rights assignment contract. This agreement is defendable in accordance with Mexican laws.

The Quitovac gold mine project consists of 14 mineral concessions that cover 2,643.82 hectares of highly prospective geological units for gold mineralization. The Quitovac mineralized area is classified with the other orogenic shear zone gold deposits of the region, including the gold mines of Mesquite, La Choya (eight kilometres south), La Herradura (35 km south, produced over 425,288 ounces gold in 2020), San Francisco and El Chanate. All these gold deposits are similar in character and are stated to be part of the Mojave-Sonora megashear.

Thomas A. Doyle, president, chief executive officer, stated, "The filing of this agreement in Mexico strengthens Aloro's position with the Quitovac mine project."

About Aloro Mining Corp.

Aloro controls the 2,643.82-hectare Quitovac mine project located in the prolific Mojave-Sonora megashear, where a large part of Mexico's recent gold production is derived. Aloro also controls the 3,199-hectare Los Venados project, which is located in the central part of the Mulatos gold district and is directly adjacent to the active Mulatos open-pit mine of Alamos Gold Inc. The Los Venados is under $5-million (U.S.) option agreement to Alamos Gold.

 

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Aloro Mining closes $130,000 first tranche of financing​

2023-05-09 15:50 ET - News Release

Mr. Thomas Doyle reports

ALORO ANNOUNCES CLOSING OF FIRST TRANCHE OF PRIVATE PLACEMENT

Aloro Mining Corp. has completed a first tranche of its previously announced non-brokered private placement, as described in its news release dated March 20, 2023, pursuant to which it has issued an aggregate of 2.6 million units at a price of five cents per unit for gross proceeds of $130,000. Each unit consists of one common share in the capital of the company and one common share purchase warrant. Each warrant is exercisable into one additional share at a price of 15 cents per share for a period of two years from the closing date. The company has received an extension from the TSX Venture Exchange until May 18, 2023, to close a second tranche, which the company expects to close shortly.

The company intends to use the proceeds from the offering for exploration work, including drilling on its recently acquired Quitovac mine project, and for general working capital purposes.

The company paid a cash finder's fee of $7,350 and issued 147,000 broker warrants to one finder in connection with the offering. The broker warrants entitle the holder to purchase one additional share at a price of five cents for a period one year from the closing date.

The securities issued under the offering and the shares that may be issuable on exercise of the warrants and the broker warrants are subject to a statutory hold period expiring four months and one day from the date of closing.

About Aloro Mining Corp.

Aloro controls the 2,643.82-hectare Quitovac mine project, located in the prolific Mojave-Sonora Megashear, where a large part of Mexico's recent gold production is derived. Aloro also controls the 3,199-hectare Los Venados project, which is located in the central part of the Mulatos gold district and is directly adjacent to the active Mulatos open-pit mine of Alamos Gold Inc. The Los Venados is under a $5-million (U.S.) option agreement to Alamos Gold.

 

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Aloro Mining receives 30-day extension for financing

2023-05-24 11:17 ET - News Release

Mr. Thomas Doyle reports

ALORO ANNOUNCES EXTENSION OF PRIVATE PLACEMENT

The TSX Venture Exchange has granted a 30-day extension to Aloro Mining Corp. for completion of its non-brokered private placement, previously announced in its news releases of March 20, 2023, and May 9, 2023.

The terms of the Offering provide for the issuance of up to 10,000,000 units (each, a "Unit") at a price of $0.05 per Unit for gross proceeds of up to $500,000. Each Unit consists of one common share in the capital of the Company (each, a "Share") and one common share purchase warrant (each, a "Warrant"). Each Warrant is exercisable into one additional Share at a price of $0.15 per Share for a period of two years from the closing date. The Company closed a first tranche of the Offering on May 9, 2023 and issued an aggregate of 2,600,000 Units for gross proceeds of $130,000.

The Company intends to use the proceeds from the Offering for exploration work, including drilling on its recently acquired Quitovac Mine Project, and for general working capital purposes. Finder's fees or brokers' commissions may be paid in accordance with Exchange policies.

All securities will be subject to a four-month hold period from the closing date. The Offering is subject to Exchange approval.

About Aloro Mining Corp.

Aloro controls the 2,643.82-hectare Quitovac Mine Project located in the prolific Mojave-Sonora Megashear, where a large part of Mexico's recent gold production is derived. Aloro also controls the 3,199- hectare Los Venados Project, which is located in the central part of the Mulatos Gold District and is directly adjacent to the active Mulatos open pit mine of Alamos Gold Inc. The Los Venados is under US $5,000,000 Option agreement to Alamos Gold Inc.