Soledad MINE Area Multi Element Sample Analysis Yields Significant Results
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Exploration drives the company.
TSX-V: KNG
OTCQB: KNGRF
___________________________________________________________________________________________________
SOLEDAD MINE AREA MULTI ELEMENT SAMPLE ANALYSIS YIELDS
SIGNIFICANT RESULTS
VANCOUVER, BRITISH COLUMBIA – April 4, 2024 (TSXV: KNG), (OTC: KNGRF), Kingsmen
Resources Ltd. (“Kingsmen” or the “ Company”) is pleased to report the recent completion of multi -element
analyses on all rock samples collected in and around the old Soledad mine area (1.0 square mile) of the total Las
Coloradas project. The Las Coloradas project is 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.
The silver values and silver equivalent values for the Soledad Mine area targets and subsidiary structures are
presented in Table 1 and Figure 1. Silver equivalent values are overall significantly higher than the silver grades
and reflect the silver-lead-zinc gold-copper composition of the mineralization. The Soledad mine area is presently
one of four areas recognizable for significant mineralization.
Kingsmen's sampling of residual mineralization in the old workings (where accessible) on the NW -trending
Soledad structure/vein system, and subsidiary structures, confirmed the presence of high -grade silver
mineralization which likely continues at depth below the water table. Sample widths ranged from 0.5 to 1.3 meters.
The Soledad structure/vein system, as currently recognized, is approximately 1.7 km long. Blind extensions to all
the mineralized structures, as well as new structures, are likely at depth. The underground ASARCO workings
(1943 to 1952) are located on the southern end of the Soledad vein system (Figure 1; Soledad and Rosario shafts).
The workings extend in excess of 250 meters along strike and to a vertical depth of approximately 125 meters on
four levels. The workings did not extend below the water table.
The mineralization is shallow, high -grade, silver-gold-lead-zinc-copper quartz-calcite veins hosted by all rock
types in structures that cut all rock types. The sizes of the old workings suggest the mined mineralization may
have been up to several meters in width. The mineralized structures have not been explored by drilling. There are
strong similarities/parallels with the mineralization in the underground Santa Barb ara mine where vein systems
vary from 3 to 6.5 km along strike and the vertical extension of the shoots have a vertical extension of up to 900
meters. The Santa Barbara mine is an underground mining complex belonging to Grupo Mexico, Mexico’s largest
mining company.
Scott Emerson, President commented: As we continue with our systematic and disciplined exploration approach
on this newly consolidated district, the results from the Soledad Mine area are confirming that distinct areas of
mineralization are recognizable indicating potential for significant mineralization in the other locales as we
identify new and existing target areas for our drill campaign.
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Figure 1
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Table 1
The silver equivalent calculation utilizes the standard equation and is based on current spot metal prices of silver
$25/oz, gold $2163/oz, copper $4.04/lb, lead $$0.98/lb and zinc $1.16/lb. Recoveries are set at 100% for all metals
for purposes of the silver equivalent calculation as no metallurgical test data is available. AgEq is used for
illustrative purposes only and does not imply that the metals are economically recoverable.
Sample Width (m) Au ppm Ag ppm AgEq ppm Cu ppm Pb ppm Zn ppm
PRSLC-0094 0.8 0.027 81.7 99.6 21 11720 2570
PRSLC-0095 1.3 0.397 97.4 133.3 122 6860 4480
PRSLC-0096 0.9 0.316 144.1 226 150 26550 11540
PRSLC-0097 1 0.494 174.9 232.5 92 23320 2480
PRSLC-0098 0.7 0.218 186.1 200 103 14020 1570
PRSLC-0099 1 0.015 17.6 27.1 45 895 3740
PRSLC-0100 0.9 0.31 69 133.2 123 15710 8280
PRSLC-0101 0.6 0.478 152.7 203.3 198 15040 5100
PRSLC-0102 0.7 0.174 31.7 57.6 158 1340 6150
PRSLC-0103 0.9 0.109 35.7 49 84 2360 2680
PRSLC-0104 0.5 0.23 42.3 63.5 116 2750 2570
PRSLC-0105 0.8 0.006 2.9 18.9 34 63 6130
PRSLC-0106 0.9 0.09 22.8 36.4 45 726 3850
PRSLC-0107 0.5 0.447 484.5 529.7 159 23710 22120
PRSLC-0108 1.3 0.027 7.1 16 54 372 2770
PRSLC-0109 0.9 0.012 5.6 9.4 30 624 949
PRSLC-0110 0.6 0.627 54.7 193 56 43500 4280
PRSLC-0111 0.9 0.083 34.4 58.9 47 6380 4400
PRSLC-0113 0.5 1.288 571.4 919.9 322 162710 6510
PRSLC-0114 0.9 0.647 177.8 301.7 54 47480 4190
PRSLC-0115 1 0.021 3.7 13 72 452 2730
PRSLC-0116 0.5 3.81 246 739.9 86 119010 7560
PRSLC-0117 0.9 0.316 134.8 163.3 42 12030 2610
PRSLC-0118 0.7 0.242 278.2 278.2 140 13630 2370
PRSLC-0119 0.5 0.27 155 194.3 526 15220 5230
PRSLC-0120 1.2 0.007 8.6 10.1 40 603 398
PRSLC-0121 1.3 0.007 9.9 10.8 68 351 369
PRSLC-0125 0.5 3.709 397.2 733 71 59150 10710
PRSLC-0126 0.8 0.035 1.4 7.1 68 68 1080
PRSLC-0127 0.6 1.429 184.8 324.7 37 33870 1310
PRSLC-0128 0.7 0.012 1.9 6.7 61 81 1410
PRSLC-0129 0.5 0.176 23.9 58.8 48 3190 7840
PRSLC-0130 0.5 0.75 138.9 303 130 25620 32340
PRSLC-0131 0.6 0.034 2.2 14.2 47 357 3480
PRSLC-0132 1.3 0.045 38.4 48.9 28 1550 4410
PRSLC-0133 1.1 0.039 9.7 15.3 35 1150 765
PRSLC-0134 0.6 1.304 75.1 197.5 98 7450 11540
PRSLC-0136 0.5 2.06 80.9 258.2 51 16830 5110
PRSLC-0138 0.5 0.393 22 54.0 42 1610 2020
PRSLC-0139 0.7 0.026 10.5 17.2 58 1450 1300
PRSLC-0140 0.5 0.631 534.8 756.4 298 113590 13550
LC-220623-003 Composite 0.25 400 513.1 110 78800 1160
LC-220623-005 0.5 1.09 72.2 303.3 193 57500 17000
LC-220623-006 0.5 0.45 15.9 174.5 133 48600 9480
LC-070723-001 Composite 1.32 108 293.5 30 29600 19800
LC-070723-002 Composite 0.78 108 188.6 72 12900 7440
LC-070723-003 Composite 0.68 132 392.7 164 30800 67000
LC-070723-004 Composite 0 1.36 2.2 2 308 158
LC-070723-005 Composite 0.75 304 661.4 261 65900 86100
PRS-00011 Composite 0.443 83.4 118.6 58 0 7898
PRS-00014 Composite 3.522 60.3 312 72 0 7009
PRS-00023 Composite 1.319 154 250.3 104 0 13235
PRS-00026 Composite 1.709 34.7 170.9 244 0 8604
PRS-00029 Composite 0.965 393 419.6 103 0 13968
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QA/QC Program
The QA/QC program employes blanks and certified reference standard, and check sampling. Samples from
separate areas were analyzed at Actlabs, Zacatecas. S ealed and tagged sample bags were transported to the
laboratory where the entire sample was crushed to a nominal -2 mm, mechanically split to obtain a representative
sub-sample and then pulverized to at least 95% -105 microns (µm).
All samples were analyzed for gold by Fire Assay Fusion -AA finish. All samples were analyzed for silver by
aqua extraction with ICP finish. Multi-element analysis was by four acid extraction with ICP-OES finish.
About Las Coloradas
Acquired and consolidated in 2023, the 100% owned 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
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,
“Scott Emerson”
Scott Emerson,
President & CEO Phone:
(604_ 685-9316
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.
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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 receipt 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 securities
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.sedar plus.ca). Forward -looking statements are
based on estimates and opinions of management at the date the statements 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.