Silver Hammer Terminates Purchase Agreement with Aurcana Silver Corporation and Focuses on its 100% Controlled High-Grade Silver Projects in Idaho and Nevada
Silver Hammer Mining Corp.
206‐595 Howe Street,
V a n c o u v e r , B C
V6C 2T5
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SILVER HAMMER TERMINATES PURCHASE AGREEMENT WITH
AURCANA SILVER CORPORATION AND FOCUSES ON ITS 100% CONTROLLED
HIGH-GRADE SILVER PROJECTS IN IDAHO AND NEVADA
May 3, 2024 – Vancouver, BC – Silver Hammer Mining Corp. (CSE: HAMR) (the “Company”
or “Silver Hammer”) announces that, further to its news release dated September 28, 2023, Silver
Hammer has terminated the Definitive Share Purchase Agreement w ith Aurcana Silver Corporation
(“Aurcana”) in respect of the acquisition by the Company of the Shafter silver deposit (the
“Transaction”). The Company will continue to focus on its highly prospectiv e 100% controlled
portfolio of high-grade silver projects in Idaho and Nevada.
“The Company completed a full and lengthy ev aluation of Aurcana’s Shafter Mine with an
experienced team of mine builders, silver explorers and capital market advisors. The opportunity
was also reviewed with numerous investment houses from across North America and Europe and
the capital and interest was not available. As a resu lt, we determined it is in the best interest of
Silver Hammer’s shareholders not to proceed with the acquisition,” commented Peter A. Ball,
President and CEO of Silver Hammer Mining. “The Company still controls 100% of three
advanced, drill-ready, high-grade silver, brown-field projects in Idaho and Nevada that provide
a significant opportunity for our shareholders. Th e silver market looks extremely promising for
2024 and has increased 20-22% since the Fall of 2023. I appreciate our shareholder’s patience
as we regroup and prepare to explore our portfolio that have never been drilled in 50 to 150
years. I look forward to working closing with our seasoned board of directors, which include
experienced exploration executives Lawrence Roulston, Ron Burk and Don Birak, to advance our
prospective and advanced projects.”
2024 Exploration Portfolio Review:
Silver Strand Silver Project (Previous Producer), Idaho:
Silver Hammer has received the acknowledgement from the US Forest Service (“USFS”), subject
to the payment of a reclamation bond, that the Plan of Operations application applied for on April
5, 2023 was approved. Please refer to the Press Release dated April 11, 2023.
Eliza High-Grade Silver and Copper Project, Nevada:
Silver Hammer continues to advan ce its permitting efforts with the USFS and anticipates
receiving approval of its Plan of Operations application in second quarter of 2024. The application
was originally submitted on April 26, 2023. Please refer to Press Release dated May 2, 2023. The
project contains multiple histori cal previous silver mines neve r subject to drilling or modern
exploration. The Company anticipates permitting to be completed by the end of Q2, 2024.
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Silverton Silver Project, Nevada:
The Silverton Mine silver project (a previous producer) is curr ently permitted for drilling and
Company’s plan is to test areas around the existing mine.
These projects provide the Company with three exciting, advance d, permitted exploration
opportunities in 2024 for a discovery below and adjacent to multiple, previous silver producers.
Trading in the common shares of the Company was halted on Septe mber 27, 2023 upon
announcement of the Transaction in accordance with the policies of the Canadian Securities
Exchange (“ CSE”). As the Transaction will not p roceed, trading of the Company ’s common
shares is expected to resume on the CSE once approved by the CSE.
About Silver Hammer Mining Corp.
Silver Hammer Mining Corp. is a junior resource company focused on advancing past-producing
high-grade silver projects in the United States. Silver Hammer controls 100% of the Silver Strand
Mine in the Coeur d’Alene Mining District in Idaho, USA, as wel l both the Eliza Silver Project and
the Silverton Silver Mine in Nevada and the Lacy Gold Project i n British Columbia, Canada. Silver
Hammer’s primary focus is defining and developing silver deposi ts near past-producing mines that
have not been adequately tested. The Company’s portfolio also provides exposure to copper and gold
discoveries.
On Behalf of the Board of Silver Hammer Mining Corp.
Peter A. Ball
President & CEO, Director
For investor relations inquiries, contact:
Peter A. Ball
President & CEO
778.344.4653
Forward Looking Information
This press release contains “forward-looking information” withi n the meaning of applicable Canadian securities legislation.
Forward-looking information in this press release includes, wit hout limitation, statements relating to the Company’s business
plans and the resumption of trading of the Company’s common sha res on the CSE and other statements which are subject to a
number of conditions, as described elsewhere in this news release. These statements are based upon assumptions that are subject
to significant risks and uncertainties, including risks regarding the mining industry, commodity prices, market conditions, general
economic factors, management’s a bility to manage and to operate t h e b u s i n e s s , a n d e x p l o r e a n d d e v e l o p t h e p r o j e c t s o f t h e
Company, and the equity markets g enerally. Because of these ris ks and uncertainties and as a result of a variety of factors, t he
actual results, expectations, achievements or performance of th e Company may differ materially from those anticipated and
indicated by these forward-looking statements. Any number of fa ctors could cause actual results to differ materially from thes e
forward-looking statements as w ell as future results. Although the Company believes that the exp ectations reflected in forward
looking statements are reasonable, they can give no assurances that the expectations of any forward-looking statements will prove
to be correct. Except as required by law, the Company disclaims any intention and assume no obligation to update or revise any
forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions,
changes in factors affecting such forward-looking statements or otherwise.