Silver Mountain Secures Final Government Approval FOR Reliquias MINE Closure Plan
SILVER MOUNTAIN SECURES FINAL
GOVERNMENT APPROVAL FOR RELIQUIAS
MINE CLOSURE PLAN
TORONTO
,
July 9, 2024
/CNW/ - Silver Mountain Resources Inc. ("Silver Mountain" or "the
Company") (TSXV: AGMR) (OTCQB: AGMRF) is pleased to announce that Peru´s Ministry of
Energy and Mines has approved the Reliquias and Caudalosa Mine Closure Plans, a key milestone
permit needed to commence production in this historic mining district located in central
Peru
.
Alvaro Espinoza
, CEO of Silver Mountain, remarked, "
We welcome the approval of the Reliquias
and Caudalosa Mine Closure Plans. Our legal, technical, and permitting team has done
exceptional work preparing and presenting a solid mine closure plan which fully complies with
Peru´s rigorous environmental standards. The Mine Closure Plans are some of the final permits
required to restart commercial production at the Reliquias Mine and, coupled with the recently
approved extension of the environmental certification, brings us closer to our goal of becoming
Peru's
next silver producer. The Company continues to advance its work at the Reliquias Mine at
a time of high metal prices and improving market sentiment towards silver producers."
The approval of the Mine Closure Plans includes authorizing the disposal of waste material from the
underground Reliquias Mine into the historic Matacaballo open pit, simultaneously reducing the
project´s footprint and remediating historic environmental liabilities.
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 currently exploring its 100% owned Castrovirreyna Project,
consisting of over 60,000 hectares of highly prospective mineral claims and concessions located in
the Huancavelica Region, central
Peru
. For additional information regarding the Castrovirreyna
Project, please refer to the Company's technical report, titled NI 43-101 Technical Report:
Preliminary Economic Assessment, Reliquias Mine, dated
June 26, 2024
, effective date
May 15,
2024
, 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
.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
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
April 26, 2026
, 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, +51 954 475 319,
[email protected], www.agmr.ca
CO: Silver Mountain Resources Inc.
CNW 07:00e 09-JUL-24