June 6 (Reuters) - Revelo Resources Corp RVL.V :
* Signed letter of intent with Hochschild Mining which gives Hochschild option to earn 100% interest in co's Northern Chile gold-silver project
* LOI in exchange for series of in-ground investments and/or drilling commitments totalling US$13 million and/or 30,000 metres
* LOI in exchange for a series of cash payments to Revelo totalling US$5.3 million
* After exercising option, Hochschild must also pay further US$15 million in cash together with NSR royalty on future production to Revelo of 1%
* LOI allows Hochschild to earn a 100% interest in co's Northern Chile gold-silver project over a maximum of five years
* Hochschild to reduce existing nsr royalty over portions of Cerro Buenos Aires, Las Pampas and Cerro Blanco from current 2% to 1% Source text for Eikon: ID:nCCNrPQ33a Further company coverage: RVL.V