BRIEF-Sandstorm Gold exercises underground mine option at Santa Elena

Feb 25 (Reuters) - Sandstorm Gold Ltd SSL.TO :

* Exercises underground mine option at Santa Elena

* Underground option allows co to purchase 20% of the gold produced from

underground at silvercrest's santa elena mine in sonora, Mexico

* For consideration, will make a $10 million payment to Silvercrest

* Will make ongoing per ounce payments equal to $350 until 50,000 ounces of

gold have been delivered to co

* After 50,000 ounces of gold have been delivered to co, ongoing per ounce

payments will increase to $450

* Source text for Eikon News Search ID:nCNWTv1zka

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