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Pierre Lassonde buys Prime Mining shares

Michael McCrae

Kitco News

Pierre Lassonde announced Tuesday that he has recently purchased 2,000,000 common shares of Prime Mining (TSXV-PRYM) through the facilities of the TSX Venture Exchange.

Prime is advancing its Los Reyes project, 43 kilometers southeast of the mining center of Cosala, Sinaloa. The company said that Los Reyes was on track to become a heap leach mine in 1998 when gold prices dropped and the project was mothballed.

As a result of this recent purchase, Lassonde now directly owns 143,000 common shares, indirectly owns 7,000,000 common shares and 3,000,000 warrants of the Company. Lassonde's direct and indirect shareholdings represent approximately 11.85% of the current issued and outstanding common shares of the company.

Lassonde is co-founder of Franco-Nevada, the royalties, and streaming company.

By Michael McCrae

For Kitco News

Contact mmccrae@kitco.com
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