Silver Mountain Appoints Alejandra Soto as CFO and Provides Corporate Update
SILVER MOUNTAIN APPOINTS ALEJANDRA
SOTO AS CFO AND PROVIDES CORPORATE
UPDATE
TORONTO
,
July 20, 2023
/CNW/ - Silver Mountain Resources Inc. (TSXV: AGMR) (OTCQB:
AGMRF) (BVL: AGMR) ("
Silver Mountain
", "
AGMR
" or the "
Company
") is pleased to announce
that
Alejandra Soto
has been appointed as the Chief Financial Officer of the Company, effective
immediately. With the addition of Ms. Soto, the Company has finalized assembling the management
team that is expected to take Silver Mountain's first mine into production.
Ms. Soto will play a crucial role in ensuring the financial stability and growth of the Company by
providing strategic leadership, risk management and cost optimization. Ms. Soto is an economist
with a Masters degree in Finance and is a Black Belt Lean Six Sigma. Ms. Soto has more than 12
years of finance experience in the mining industry with Peruvian and international companies. Ms.
Soto previously held the positions of Chief Financial Officer at Alpayana and Head of Finance of
Nexa Resources.
Prior to joining Silver Mountain, Ms. Soto held the position of Chief Financial Officer of Alpayana, a
Peruvian mining company. Additionally, she held the position of Corporate Head of Finance at Nexa
Resources, a global mining company. Ms. Soto's expertise in financial planning, budgeting, and
capital allocation will contribute to Silver Mountain's long-term financial sustainability and growth.
"We are excited to welcome Alejandra as Chief Financial Officer and I have no doubt that her
extensive knowledge of the industry combined with her strong background in finance and accounting
will be invaluable to Silver Mountain as we continue to develop our projects," said
Alvaro Espinoza
,
Chief Executive Officer of the Company.
In connection with her appointment, Ms. Soto was be granted an aggregate of 225,000 options to
acquire class A common shares of the Company ("
Options
"). The Options are exercisable at a
price of $0.38 per share for a period of four years.
The addition of Ms. Soto completes the Company's management team who are expected to drive
the Company's success as it advances to the production stage.
Biographies of the Company's management:
Alvaro Espinoza
, Chief Executive Office, has over 15 years of experience in senior management
positions in the mining industry in both
Latin America
and
North America
, with extensive
experience in building, operating, and expanding mines, strategic planning, supply chain,
financial analysis and control, project evaluation, project management, and negotiation. He
previously served as CEO of Cautivo Mining Inc. and as Executive Vice-President and Chief
Financial Officer for mining companies in
Colombia
and
Peru
.
Richard Contreras
, Chief Operations Officer, plays an important role in driving the Company's
operational excellence. With more than 35 years of experience in the mining sector, Mr.
Contreras has successfully overseen large-scale mining operations at Panamerican Silver as
Country Manager and Director of Operations of different mining units and as General Manager
at Glencore in its Quenuales Mining unit. His expertise in mining engineering, operational
planning, and safety protocols has been pivotal in maintaining the highest industry standards and
maximizing production efficiency.
Gustavo Anaya
, Director of Operations, is a Geological Engineer with more than 25 years of
experience in the mining sector. Mr. Anaya has effectively overseen and optimized the
Company's operational activities, including managing production processes and exploration drive
efficiency. Mr. Anaya has previously held positions as Mine Operations Manager, Explorations
Manager and other senior positions at several Peruvian mining companies, including
Buenaventura, Marcobre and Condestable.
Ricardo Castillo
, Metallurgist Engineer with PhD degree in Mining and Environment. Mr. Castillo
has more than 30 years of professional experience in the mining sector and brings a wealth of
expertise and hands-on experience in managing treatment plants. Mr. Castillo previously served
as the Treatment Plant Manager for Volcan, where he successfully led multiple treatment plant
operations and achieved efficiency gains. In 2014, Mr. Castillo received the National Award
"Tumi de
Oro
", awarded by the College of Engineers of
Peru
. Mr. Castillo has successfully
enhanced operational efficiency, streamlined processes, and achieved significant productivity
improvement.
Felicia Castro
, Superintendent of Social Management, plays a vital role in guiding Silver
Mountain towards sustainable mining practices. With more than 25 years of experience, Ms.
Castro leads the development of comprehensive environmental management plans. She has
been Director of the executive council of the Social Fund of Magistral Project and also led the
Community Relations area at Nexa Resources, Shahuindo and Volcan. Her expertise in
environmental impact assessments, land reclamation, and community engagement will allow the
Company to achieve responsible mining practices that minimize ecological footprints and foster
positive relationships with local communities.
Cristian Cadenillas
, Legal Manager, has over 14 years of experience in the mining sector,
bringing a wealth of knowledge and expertise in mining permits, laws, environmental regulations,
contract negotiations, and corporate governance. Prior to joining Silver Mountain, Mr. Cadenillas
served as the Corporate Legal Manager at Austria Duvaz, where He successfully navigated
intricate legal challenges and contributed to the company's overall growth and success.
Additionally, he worked in the legal areas at OEFA, a Peruvian environmental regulatory entity.
"We are proud to have an exceptional team who embody our commitment to sustainable mining
practices and operational excellence," said Silver Mountain's CEO,
Alvaro Espinoza
. "Our collective
expertise and dedication will help ensure the success of Silver Mountain's development."
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 the Company's drill program, including cross sections of the main veins
with drill hole locations, please refer to the Company's corporate presentation, available on its
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
.
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.
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.
SOURCE
Silver Mountain Resources Inc.
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%SEDAR: 00052252E
For further information:
Alvaro Espinoza, CEO, [email protected]; Silver Mountain Resources
Inc, 82 Richmond Street East, Toronto, ON M5C 1P1, +51 997 903 576, [email protected];
www.agmr.ca
CO: Silver Mountain Resources Inc.
CNW 18:00e 20-JUL-23