Patagonia Gold Corp. Corrects Calcatreu PEA Metrics

Patagonia Gold Corp. corrected previously reported metrics for its Calcatreu Preliminary Economic Assessment (PEA). The company stated that Cash Cost is down approximately 38% and All-In Sustaining Cost (AISC) is down approximately 36%. The after-tax Net Present Value (NPV) is now ~$370 million with an Internal Rate of Return (IRR) of ~315% and a payback period of ~0.5 years, assuming unchanged metal prices and mine life. A disclosure error regarding silver recovery, fixed at 45%, was identified as the cause.