The Hi Ho Property was acquired in exchange of $25m along with transaction expenses and has also issued 2,583,333 Liberty Silver shares to Primus.
About 2% net smelter royalties on future production was also granted to Primus from the Hi Ho Property.
The joint venture comprises over 10,500 acres of land in Nevada mining district, which includes the Trinity Mine and several other exploration targets.
According to the registration rights agreement, Liberty Silver will pay 277,778 Liberty Silver shares to Primus if a registered statement is declared by the United States Securities Exchange Commission and if a registered statement is not declared, it will pay $20m.
Renaissance CEO and president Richard Bedell remarked that the addition of the Hi Ho Property completes the Trinity land package and increases the size of the potential resource.
Liberty CEO Geoff Browne added, "This acquisition not only has the potential to increase our current resource and the potential economics to bring the Trinity Mine back into production, but also moves us very close to meeting our earn-in requirements"
