Silver Mountain Announces Grant of Stock Options
SILVER MOUNTAIN ANNOUNCES GRANT OF
STOCK OPTIONS
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN OR INTO
THE UNITED STATES
/
TORONTO
,
Feb. 23, 2024
/CNW/ - Silver Mountain Resources Inc. (TSXV: AGMR) (OTCQB:
AGMRF) (BVL: AGMR) ("
Silver Mountain
" or the "
Company
") announces that it has approved a
grant of stock options (the "
Stock Options
"), pursuant to the terms of the Company's omnibus
equity incentive plan, to certain directors, officers and employees of the Company. A total of
7,400,000 Stock Options have been approved for issuance to such directors, officers and
efmployees. The Stock Options will be exercisable at an exercise price of
$0.10
per share, for a
period of four years from the date of the grant. The Stock Options vest at the later of: (a) the 12-
month anniversary of the grant; or (b) the mining operations reaching commercial operation as
defined by the operations reaching an average mining rate of 400 tonnes per day over a period of 30
days.
About Silver Mountain Resources Inc.
Silver Mountain 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 ReliquiasMine,
Huancavelica-
Peru
, dated
March 27, 2023
, effective date
March 18, 2023
, available at
www.sedarplus.ca
.
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
andholds 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 "
Caution Regarding Forward-Looking Statements
"
and "
Risk Factors
" in the
Company's annual information form dated
August 14, 2023
, and other disclosure documents
available on the Company's profile at
www.sedarplus.ca
. 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, [email protected], Silver
Mountain Resources Inc, 82 Richmond Street East, Toronto, ON M5C 1P1, +51 954 475 319,
[email protected], www.agmr.ca
CO: Silver Mountain Resources Inc.
CNW 16:35e 23-FEB-24