Kingsmen Completes Interpretation of Las Coloradas Ground Magnetics
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Exploration drives the company.
TSX-V: KNG
OTCQB: KNGRF
___________________________________________________________________________________________________
KINGSMEN COMPLETES INTERPRETATION OF LAS COLORADAS
GROUND MAGNETICS
VANCOUVER, BRITISH COLUMBIA – July 16, 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 Hildalgo del Parral, Chihuahua, Mexico. Portions of the Soledad structure were mined by
American Smelting and Refining Company (“ASARCO”), the U.S. based subsidiary of Grupo Mexico in the
period 1944 to 1952.
Kingsmen has completed an evaluation and interpretation of the ground magnetic data covering the entire Las
Coloradas project area. The interpretation identified two prominent magnetic bodies (A and B) within a halo of
weaker magnetics (Figure 1). Both bodies are strongly magnetic (>300 nT) and are interpreted to be shallow and
probably linked to intrusives. The magnetic lineaments in B clearly reflect the strong NW-trend of the Soledad
and Soledad II structures. As well, these lineaments bound and distort B and may be related to sharp contacts or
fault related contacts of the interpreted intrusives. Very positively, the structural picture appears to define a
cymoid loop, a feature that generates multiple dilation zones that may host mineralization in both NW- and NE-
trending zones along strike and at depth. These will be targets for drill testing. Notably, the significant old
workings are associated with magnetic body B, however, prospecting has identified widespread occurrences of
silver mineralization indicating there are other controls on mineralization. Magnetic body A has a NE-trend and
appears to be much less “ broken” than magnetic body B. It is associated with the newly discovered Silvia-La
Plata trend and its structural composition is currently being interpreted. Kingsmen is currently compiling and
interpreting the prospecting results with the detailed magnetic data.
The processing and interpretation of the magnetic data completed by Manuel Aragón-Arreola, Ph.D. included the
merging and levelling of the data bases to produce various metadata including total magnetic intensity, residual
magnetic anomaly, reduction to the pole, 1st vertical derivative, tilt derivative, upper continuation of the reduction
to the pole, two orders of high frequency filtering of the reduction to the pole and analytical signal.
The Las Coloradas project area of mineralization is on the southeast flank of a prominent aeromagnetic high
interpreted to be a buried felsic intrusive body. Magnetic bodies A and B and the magnetic lineaments patterns
are likely linked to this body. The project is prospective for epithermal precious metal, skarn and porphyry
mineralization.
Scott Emerson, President commented: “The on-going field programs along with the technical data, continue to
expand our understanding of the deposit and will help identify the strongest drill targets preparatory to drilling.”
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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, 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 Hildago de Parral and 40 kilometers east of the San Francisco de oro and
Santa Barbara mining districts where several operating 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.
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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 La Trini Project within 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.
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.sedarplus.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.