Silver Mountain Receives Approval from Peru'S Ministry of Energy and Mines to Restart Operations at Reliquias MINE and Caudalosa Plant
SILVER MOUNTAIN RECEIVES APPROVAL
FROM PERU'S MINISTRY OF ENERGY AND
MINES TO RESTART OPERATIONS AT
RELIQUIAS MINE AND CAUDALOSA PLANT
TORONTO
,
Dec. 19, 2024
/CNW/ - Silver Mountain Resources Inc. ("Silver Mountain" or the
"Company") (TSXV: AGMR) (OTCQB: AGMRF) is pleased to announce that it has received
confirmation from
Peru's
Ministry of Energy and Mines that the Company's Reliquias Mine and
Caudalosa Plant have been officially classified as ongoing mining operations. This significant
designation represents the final governmental approval required for the Company to restart
production and processing operations.
CEO
Alvaro Espinoza
shared, "Our dedicated permitting and legal teams have worked tirelessly to
ensure our commitment to revitalizing the Reliquias Mine. This recognition not only marks a pivotal
moment for Silver Mountain but also underscores our contribution towards boosting the local
economy. With the Reliquias Mine and Caudalosa Plant now recognized as active sites, we maintain
our existing environmental permits, allowing us to recommence operations without further
governmental approvals."
Key Highlights:
Ongoing Operations Status
: The Ministry's confirmation validates the Company's efforts in
demonstrating the operational history and readiness of the Reliquias-Caudalosa mining complex,
following our proactive stance during a period of production suspension due to low metal prices.
Environmental Compliance
: All existing permits from previous operations remain fully enforceable,
enabling the Company to operate under the original mine footprint without the need for additional
environmental clearances.
Local Economic Impact
: Our commitment to the community is unwavering; a future decision to
restart operations is anticipated to revitalize the local economy and create job opportunities.
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
.
The current technical report, titled "NI 43-101 Technical Report: Preliminary Economic Assessment,
Reliquias Mine", Huancavelica-
Peru
, dated
June 26, 2024
, effective date
May 15, 2024
, is available
at
https://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 and
holds more than 60,000 hectares in the district of Castrovirreyna, Huancavelica,
Peru
.
www.agmr.ca
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 on SEDAR+ 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:
For Further Information Contact: Alvaro Espinoza, Chief Executive Officer,
Silver Mountain Resources Inc, 82 Richmond Street East, Toronto, ON M5C 1P1, +51 997 377 968,
CO: Silver Mountain Resources Inc.
CNW 07:00e 19-DEC-24