First Andes Silver Appoints Ian Stalker as Executive Chairman and Director, James Hutton as Advisor and Announces Private Placement Financing of $1,000,000
FIRST ANDES SILVER APPOINTS IAN STALKER AS EXECUTIVE CHAIRMAN AND DIRECTOR,
JAMES HUTTON AS ADVISOR AND ANNOUNCES PRIVATE PLACEMENT FINANCING OF
$1,000,000
Vancouver, British Columbia, February 10, 2025 – FIRST ANDES SILVER LTD . (TSXV: FAS; OTC Markets:
MSLVF; FSE: 9TZ) (the “Company” or “First Andes”) is pleased to announce that seasoned mining executive
Ian Stalker has been appointed as Executive Chairman and a director of the Company and James Hutton
has been appointed as an advisor to the Company.
Ian Stalker is a senior international mining executive with over 50 years of hands -on experience in
resource development and has raised over $1 billion from the capital markets over his career. Mr. Stalker
has directed over twelve major mining projects, from initial exploration drilling to start-up, including gold,
base metals, uranium and industrial minerals. Mr. Stalker was founder and former Chief Executive Officer
of K92 Mining Inc. until 2023. Mr. Stalker was also President and Chief Executive Officer of LSC Lithium
Corp., a TSX Venture Exchange quoted company, which was sold to Pluspetrol Resources Corporation B.V.
for approximately C$111 million in March 2019. Ian was also CEO and Chairman of PLU ( TSXV) a Peru
based Lithium and Uranium development co mpany. Before that, Ian was CEO of UraMin Inc. from 2005
until its acquisition by Areva S.A. in 2007 for US$2.5 billion. Prior to joining UraMin, he was Vice President
of Gold Fields Ltd, the fourth largest gold producer in the world at the time . Mr. Stalker is currently an
advisor to Tolu Minerals, an ASX listed mineral development company with operations in Papua New
Guinea.
Mr. Hutton has over 37 years of resource company and capital markets experience. He was the President
and CEO of Canada Dominion Resources Group and President and COO of CMP Resources Group that
jointly completed in excess of C$1.4 billion in flow through share transactions for the Canadian resource
industry. Mr. Hutton has served on multiple public boards and held several C -level executive positions.
He holds a Bachelor of Science degree from the University of British Columbi a and an MBA from City
University.
In connection with this appointment, the Company granted Mr. Stalker 500,000 stock options exercisable
at $0.05 per share for a period of five years, and granted 500,000 restricted share units that vest as
follows: 50% one year from the date of grant and 50% two years from the date of grant.
Private Placement Financing
The Company also announces a non-brokered private placement financing of up to 20,000,000 common
shares (“Shares”) at a price of $0.05 per Share for gross proceeds of $1,000,000 (the “Offering”).
The securities issued under the Offering will be subject to restrictions on resale for a period of four months
from the date of issue. The Company may pay finders a fee in cash and/or share purchase warrants to
registered finders.
The proceeds of the Offering will be used for a new drill program at the Santas Gloria silver property and
general working capital purposes.
About First Andes Silver Ltd.
First Andes Silver Ltd. is a British Columbia company that holds a 100% interest in the high -grade Santas
Gloria silver property, located in Peru.
For more information please contact:
Colin Smith
Phone: (604) 806-0626
E-mail: [email protected]
Forward-Looking Statements
Information set forth in this news release contains forward -looking statements that are based on
assumptions as of the date of this news release. These statements reflect management’s current
estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The
Company cautions that all forward looking statements are inherently uncertain and that actual
performance may be affected by a number of material factors, many of which are beyond the Company’s
control. Such factors include, among other things: risks and uncertainties relating to Company’s limited
operating history, ability to obtain sufficient financing to carry out its exploration programs and the need
to comply with environmental and governmental regulations. Accordingly, actual and future events,
conditions and results may differ materially from the estimates, beliefs, intentions and expectations
expressed or implied in the forward -looking information. Except as required under applicable securities
legislation, the Company undertakes no obligation to publicly update or revise forward -looking
information.
The forward-looking statements contained in this news release are made as of the date of this news
release. Except as required by law, the Company disclaims any intention and assumes no obligation to
update or revise any forward-looking statements, whether as a result of new information, future events
or otherwise.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.