Las Coloradas Silver/GOLD Project Expands Project Area
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Exploration drives the company.
TSX-V: KNG
OTCQB: KNGRF
LAS COLORADAS SILVER/GOLD PROJECT EXPANDS PROJECT AREA
VANCOUVER, BRITISH COLUMBIA – February 28, 2024 (TSXV: KNG), (OTC: KNGRF), Kingsmen
Resources Ltd. (“Kingsmen” or the “Company”) is pleased to update progress on the Las Coloradas project,
located 30km from Hidalgo de Parral, Chihuahua, Mexico. Portions of the Soledad structure were mined by
ASARCO (American Smelting and Refining Company), the U.S. based subsidiary of Grupo Mexico in the period
1944 to 1952.
Kingsmen has completed additional prospecting and sampling in a previously untested area of the project located
northeast of the Soledad NW target area. No historic old workings were found in the area and overburden limits
exposure (Figure 1). Silver values up to 153 g/t were obtained typically from 0.1 to 4.0 meter wide, NW-trending
quartz-calcite structures, veins and breccias that parallel the Soledad and Soledad II structures, and their
subsidiaries. In aggregate, the belt of NW-trending structures plus the Soledad and Soledad II structures is at least
1,500 meters wide and the presence of anomalous silver values in the major and minor structures demonstrates the
prospectivity of the belt. Preliminary interpretation of ground magnetics indicates the presence of several important
major structures as indicated by magnetic linears. Pathfinder element concentrations occurring in variable
combinations in the areas of interest include Cu, Pb, Zn, As, Bi, Sb and Mo. The different combinations of
pathfinder elements likely represent different stages or pulses of mineralization.
The belt of NW-trending structures intercepts a newly recognized 2,500 meter long zone of NE-trending structures
near the area of highly anomalous silver values at the NW-end of the Soledad II structure. This complex structural
zone is located in an area of strong magnetics possibly representing a buried intrusive with skarn potential.
Scott Emerson, President commented: We are continuing the field program with the aid of integration and
interpretation of the ground magnetic data to better understand the structural controls on the silver mineralization
which are presenting new areas for exploration which have not been explored before.
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Figure 1
About Las Coloradas
The Las Coloradas Project ( 8.5 km2 -3.3 sq miles) represents a consolidation of a historic mining district which
covers numerous silver-gold-lead-zinc-copper mines previously exploited by ASARCO (American Smelting and
Refining Company), the U.S. based subsidiary of Grupo Mexico.
Las Coloradas is in the Parral mining district of the Central Mexican Silver Belt, and is located approximately 30
kilometers southeast of the city of Hidalgo de Parral and 40 kilometers east of the San Francisco de Oro and Santa
Barbara mining districts where several old major mines are located, such as La Prieta, Veta Colorada, Palmilla,
Esmeralda, San Francisco del Oro and Santa Barbara. As well, new major mining projects are currently being
explored in the district; Cordero (Discovery Silver Corp.), 35 kms north of Parral, and La Cigarra (Kootenay Silver
Inc.), 35 kms northwest of Parral. Click here to see locator map, https://www.kingsmenresources.com/area-history
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Qualified Person
Kieran Downes, Ph.D., P.Geo., a Qualified Person as defined by National Instrument 43-101, has reviewed and
approved the scientific and technical disclosure set out in this news release.
About Kingsmen Resources
In line with Kingsmen’s organic-growth strategy, the Company’s focus is on exploration and development, and is
currently focused on district-scale exploration for high -margin metallic mineral deposits in the prolific mining
districts of Parral Mexico. In addition, the company has a 1% NSR on the Los Ricos North project in Mexico
operated by GoGold Resources Inc. The Company’s leaders have extensive experience in the mining and financial
sectors. Kingsmen is a publicly-traded company (TSX.V:KNG; OTCQB: KNGRF) and is headquartered in
Vancouver, British Columbia.
On behalf of the Board, Signed:
“Scott Emerson”
Scott Emerson,
President & CEO Phone:
6046859316
Email: [email protected]
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts
responsibility for the adequacy or accuracy of this release.
Forward-Looking Statement:
All statements, trend analysis and other information contained in this press release about anticipated future events or results constitute
forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek”,
“anticipate”, “believe”, “plan”, “estimate”, “expect” and “intend” and statements that an event or result “may”, “will”, “should”, “could”
or “might” occur or be achieved and other similar expressions. All statements, other than statements of historical fact, included herein,
including, without limitation, statements regarding the completion of the acquisition of the Las Coloradas Project and receip t of
regulatory approval, are forward-looking statements. Although Kingsmen believes that the expectations reflected in such forward-
looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since
Kingsmen can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks,
uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking
statements, including the risks, uncertainties and other factors identified in Kingsmen’s periodic filings with Canadian secu rities
regulators, and assumptions made with regard to: Kingsmen’s ability to make the required payments under the definitive agreements;
and Kingsmen’s ability to secure the necessary regulatory approvals. Forward-looking statements are subject to business and economic
risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the
forward-looking statements. Important factors that could cause actual results to differ materially from Kingsmen’s expectations include
risks associated with the business of Kingsmen; risks related to the satisfaction or waiver of certain conditions to the closing of the
acquisition of the Las Coloradas Project; non-completion of the acquisition of the Las Coloradas Project; risks related to exploration and
potential development of the Las Coloradas Project; business and economic conditions in the mining industry generally; fluctuations in
commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and
grade of mineral deposits; the need for cooperation of government agencies in the exploration and development of properties and the
issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and
terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated
program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risk factors as detailed
from time to time and additional risks identified in Kingsmen’s filings with Canadian securities regulators on SEDAR in Canada (available
at (www.sedarplus.ca). Forward-looking statements are based on estimates and opinions of management at the date the statements
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are made. Kingsmen does not undertake any obligation to update forward looking statements except as required by applicable securities
laws. Investors should not place undue reliance on forward-looking statements