Silver Mountain and Castrovirreyna Community Sign 20 Year Agreement Granting Use of Land FOR the Planned H1 2025 Restart of the Reliquias MINE
SILVER MOUNTAIN AND CASTROVIRREYNA
COMMUNITY SIGN 20 YEAR AGREEMENT
GRANTING USE OF LAND FOR THE PLANNED
H1 2025 RESTART OF THE RELIQUIAS MINE
TORONTO
,
Jan. 9, 2024
/CNW/ - Silver Mountain Resources Inc. ("Silver Mountain" or "the
Company") (TSXV: AGMR) (OTCQB: AGMRF) is very pleased to announce the signing of a 20 year
surface use agreement with the Community of Castovirreyna. This agreement fully covers the
Reliquias Mine area and specifically allows the Company to carry out all surface exploration and
mine development activities – including building tailings disposal facilities, concentrator plants, waste
disposal faicilities and underground developments – needed to operate an underground mine.
Alvaro Espinoza
, CEO of Silver Mountain, stated: "
The signing of this agreement is a major
milestone for Silver Mountain. Our community outreach team has done an outstanding job building
trust with the local communities and highlighting the benefits that modern mining bring to remote
areas such as this area of Huancavelica. This agreement highlights the solid relationship we have
built with our local stakeholders, and it represents an important step towards restarting the
Reliquias mine in 2025, as planned."
The agreement entails Silver Mountain making annual payments and providing social and economic
support to the Community of Castrovirreyna, in exchange for the right to carry out all mineral
exploration and explotation activities allowed under peruvian regulations on Community-owned land.
On Behalf of the Board of Directors of Silver Mountain Resources Inc.
Alvaro Espinoza
, Chief Executive Officer
About Silver Mountain
Silver Mountain Resources Inc. is a silver explorer and mine developer planning to restart production
at the Reliquias underground mine and undertake exploration activities at its prospective silver
camps at the Castrovirreyna Project in Huancavelica,
Peru
.
For additional information in respect of the Castrovirreyna Project, please refer to the Company's
technical report, titled NI 43-101 Technical Report Mineral Resource Estimate for the Reliquias
Mine, Huancavelica-
Peru
, dated
March 27, 2023
, effective date
March 18, 2023
, available at
https://sedar.com
.
For further information about our drill program, including cross sections of the main veins with drill
hole locations, please refer to our corporate presentation, available on our website at
www.agmr.ca
Silver Mountain's subsidiary Sociedad Minera Reliquias S.A.C. owns 100% of its concessions and
holds more than 60,000 hectares in the district of Castrovirreyna, Huancavelica,
Peru
.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Forward Looking Statements
This news release contains forward-looking statements and forward-looking information within the
meaning of Canadian securities legislation (collectively, "
forward-looking statements
") that relate
to Silver Mountain's current expectations and views of future events. Any statements that express, or
involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or
performance (often, but not always, through the use of words or phrases such as "will likely result",
"are expected to", "expects", "will continue", "is anticipated", "anticipates", "believes", "estimated",
"intends", "plans", "forecast", "projection", "strategy", "objective" and "outlook") are not historical
facts and may be forward-looking statements and may involve estimates, assumptions and
uncertainties which could cause actual results or outcomes to differ materially from those expressed
in such forward-looking statements. No assurance can be given that these expectations will prove to
be correct and such forward-looking statements included in this news release should not be unduly
relied upon. These statements speak only as of the date of this news release.
Forward-looking statements are based on a number of assumptions and are subject to a number of
risks and uncertainties, many of which are beyond Silver Mountain's control, which could cause
actual results and events to differ materially from those that are disclosed in or implied by such
forward-looking statements. Such risks and uncertainties include, but are not limited to, the factors
set forth under "
Forward-Looking Statements"
and "
Risk Factors
" in the Company's final prospectus
dated
January 26, 2022
, and other disclosure documents available on the Company's profile at
www.sedar.com
. Silver Mountain undertakes no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise, except as may be
required by law. New factors emerge from time to time, and it is not possible for Silver Mountain to
predict all of them or assess the impact of each such factor or the extent to which any factor, or
combination of factors, may cause results to differ materially from those contained in any forward-
looking statement. Any forward-looking statements contained in this news release are expressly
qualified in their entirety by this cautionary statement.
SOURCE
Silver Mountain Resources Inc.
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For further information:
Alvaro Espinoza, Chief Executive Officer, Silver Mountain Resources Inc,
82 Richmond Street East, Toronto, ON M5C 1P1, [email protected], www.agmr.ca
CO: Silver Mountain Resources Inc.
CNW 07:00e 09-JAN-24