Texas Mineral Resources Corp. Signs Material Definitive Agreement

TL;DR

TMRC signed a big deal on 5/23, filing today. Big news for gold/silver.

AI Summary

Texas Mineral Resources Corp. announced on May 30, 2024, that it entered into a Material Definitive Agreement on May 23, 2024. The filing also includes financial statements and exhibits related to this event. The company, formerly known as Texas Rare Earth Resources Corp. and Standard Silver Corp., is incorporated in Delaware and focuses on gold and silver ores.

Why It Matters

This filing indicates a significant new agreement for Texas Mineral Resources Corp., which could impact its future operations and financial performance in the gold and silver mining sector.

Risk Assessment

Risk Level: medium — Entering into a material definitive agreement is a significant event that carries inherent risks related to the terms, execution, and potential impact on the company's financial health and operations.

Key Players & Entities

• Texas Mineral Resources Corp. (company) — Registrant
• May 30, 2024 (date) — Date of Report
• May 23, 2024 (date) — Date of Earliest Event Reported
• Texas Rare Earth Resources Corp. (company) — Former Company Name
• Standard Silver Corp. (company) — Former Company Name

FAQ

Filing Documents

• tmrc-8k_053024.htm (8-K) — 32KB
• ex10-1.htm (EX-10.1) — 26KB
• ex99-1.htm (EX-99.1) — 19KB
• ex99-1001.jpg (GRAPHIC) — 6KB
• 0001999371-24-006855.txt ( ) — 262KB
• tmrc-20240530.xsd (EX-101.SCH) — 3KB
• tmrc-20240530_lab.xml (EX-101.LAB) — 33KB
• tmrc-20240530_pre.xml (EX-101.PRE) — 22KB
• tmrc-8k_053024_htm.xml (XML) — 3KB

01

Item 1.01 Entry into a Material Definitive Agreement . Mineral Exploration and Option Agreement On May 23, 2024, Standard Silver Corp. ("Standard Silver"), a wholly-owned subsidiary of Texas Mineral Resource Corp. (the "Company"), entered into amendment No. 1 ("Amendment") to the Mineral Exploration and Option Agreement dated October 7, 2021 ("Mineral Exploration and Option Agreement") by and between Standard Silver and Santa Fe Gold Corporation ("Santa Fe"). Under terms of the Amendment, the primary modifications were changes to the defined terms of (i) "project area" which has been expanded from 80 contiguous acres to encompass the area within the mining claims, as identified in the Mineral Exploration and Option Agreement, and area of interest which is approximately 1,600 acres, (ii) "feasibility study" which now provides that this study will be an assessment by Standard Silver of the technical and economic practicality of conducting mining operations within the project area identified by Standard Silver sufficient to pursue project financing, which the parties will jointly pursue through mutual best efforts to achieve a financing facility, and (iii) "examination period" which has been modified to be the period of time during which Standard Silver analyzes the potential of the project area. The Amendment also modified certain provisions to reflect the changed defined terms and rights and obligations associated therewith. Additionally, Santa Fe agreed not to transfer all or any portion of its mining claims, as identified in the Mineral Exploration and Option Agreement, without providing Standard Silver a right of first refusal to purchase such properties. The foregoing description of the agreement is qualified in its entirety by reference to the text of the Amendment, a copy of which the Company is filed herewith as Exhibit 10.1.

01

Item 8.01 Other Events . The Company issued a press release on May 30, 2024 announcing the entry into the Amendment with Santa Fe, a copy of which is filed herewith as Exhibit 99.1. Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 10.1* Amendment to the Mineral Exploration and Option Agreement dated as of May 23, 2024 by and among Standard Silver Corp. and Santa Fe Gold Corp. 99.1* Press Release issued by Texas Mineral Resources Corp. on May 30, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) * Filed herewith 1 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Current Report to be signed on its behalf by the undersigned thereunto duly authorized. TEXAS MINERAL RESOURCES CORP. Date: May 30, 2024 By: /s/ Wm. Chris Mathers Name: Wm. Chris Mathers Title: Chief Financial Officer 2

View Full Filing

View this 8-K filing on SEC EDGAR