Silver47 Announces Mogollon Project Anniversary Payment
Silver47 Announces Mogollon Project
Anniversary Payment
Vancouver, British Columbia--(Newsfile Corp. - April 24, 2026) - Silver47 Exploration Corp. (TSXV:
AGA) (OTCQX: AAGAF) ("Silver47" or the "Company") is pleased to announce, that, subject to final
approval from the TSX Venture Exchange (the "TSXV"), the Company will issue an aggregate of 56,902
common shares pursuant to two previously entered into amended and restated mining lease
agreements entered into with the Company's wholly owned subsidiary, Summa Silver Corp. (collectively,
the "Amended Lease Agreements"). The common shares are being issued at a deemed value of
$0.6855 per common share, being the 20-day volume weighted average price of the Company's
common shares as traded on the TSXV. Such payments represent the fifth of ten annual payments due
pursuant to the Amended Lease Agreements. The Amended Lease Agreements relate to mining claims
which form part of the Mogollon project near Silver City, New Mexico.
Pursuant to the Amended Lease Agreements, the Company, through it's wholly owned subsidiary,
Summa Silver Corp., has agreed to continue to lease certain mining claims which form part of the
Mogollon project for a period of ten years and renewable in 10- year terms at the Company's election.
The Company must make aggregate cash payments of US$99,067 on annual basis for such period
under the Amended Lease Agreements. Such annual payments are indexed to the Production Price
Index for Industrial Commodities as published by the United States Bureau of Labor Statistics (the
"PPI"). The Company may, in its sole discretion, elect to pay an aggregate of US $27,018 (indexed to
PPI) of the annual amount payable under the Lease Agreements by issuing common shares at a
deemed value equal to the 20-day volume weighted average price of the Company's common shares as
traded on the TSXV, subject to the maximum discounted market price allowed under the policies of the
TSXV.
About Silver47 Exploration
Silver47 Exploration Corp is a mineral exploration company, focused on uncovering and developing
silver-rich deposits in North America. The Company is creating a leading high-grade US-focused silver
developer with a combined resource totaling 236 Moz AgEq at 334 g/t AgEq inferred and 10 Moz at 333
g/t AgEq Indicated. With operations in Alaska, Nevada and New Mexico, Silver47 Exploration is
anchored in America's most prolific mining jurisdictions. For detailed information regarding the resource
estimates, assumptions, and technical reports, please refer to the NI 43-101 Technical Report and other
filings available on SEDAR at
www.sedarplus.ca
. The Company trades on the TSXV under the ticker
symbol AGA and OTCQX under the ticker symbol AAGAF.
For more information about the Company, please visit
www.silver-47.com
and see the Technical Report
filed on SEDAR+ (
www.sedarplus.ca
) and titled "Technical Report on the Red Mountain VMS Property
Bonnifield Mining District, Alaska, USA with an effective date January 12, 2024, and prepared by APEX
Geoscience Ltd."
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X:
@Silver47co
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Silver47
On Behalf of the Board of Directors
Mr. Galen McNamara
CEO & Director
For investor relations
Giordy Belfiore
604-288-8004
No securities regulatory authority has either approved or disapproved of the contents of this release.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the
TSXV) accepts responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING STATEMENTS
This release contains certain "forward looking statements" and certain "forward-looking information"
as defined under applicable Canadian securities laws. Forward-looking statements and information
can generally be identified by the use of forward-looking terminology such as "may", "will", "expect",
"intend", "estimate", "upon" "anticipate", "believe", "continue", "plans" or similar terminology. Forward-
looking statements and information include, but are not limited to: the Company's exploration and
development activities and plans.
Forward-looking statements and information are based on forecasts
of future results, estimates of amounts not yet determinable and assumptions that, while believed by
management to be reasonable, are inherently subject to significant business, economic and
competitive uncertainties and contingencies.
Forward-looking statements and information are subject
to various known and unknown risks and uncertainties, many of which are beyond the ability of the
Company to control or predict, that may cause the Company's actual results, performance or
achievements to be materially different from those expressed or implied thereby, and are developed
based on assumptions about such risks, uncertainties and other factors set out herein, including but
not limited to: the ability to close the Offering, including the time and sizing thereof, the insider
participation in the Offering and receipt of required regulatory approvals; the use of proceeds not
being as anticipated; the Company's ability to implement its business strategies; risks associated with
general economic conditions; adverse industry events; stakeholder engagement; marketing and
transportation costs; loss of markets; volatility of commodity prices; inability to access sufficient
capital from internal and external sources, and/or inability to access sufficient capital on favourable
terms; industry and government regulation; changes in legislation, income tax and regulatory matters;
competition; currency and interest rate fluctuations; and the additional risks identified in the
Company's financial statements and the accompanying management's discussion and analysis and
other public disclosures
recently filed under its issuer profile on SEDAR+ and other reports and filings
with the TSXV and applicable Canadian securities regulators. The forward-looking information are
made based on management's beliefs, estimates and opinions on the date that statements are made
and the Company undertakes no obligation to update forward-looking statements if these beliefs,
estimates and opinions or other circumstances should change, except as required by applicable
securities laws.
No forward-looking statement can be guaranteed, and actual future results may vary materially.
Accordingly, readers are advised not to place undue reliance on forward-looking statements.
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https://www.newsfilecorp.com/release/294218