Outcrop Silver Announces Funding Partner FOR Kramer Hills
OUTCROP SILVER ANNOUNCES FUNDING
PARTNER FOR KRAMER HILLS
VANCOUVER, BC
,
June 12, 2025
/CNW/ -
Outcrop Silver & Gold Corporation
(TSXV: OCG)
(OTCQX: OCGSF) (DE: MRG)
("Outcrop Silver")
is pleased to announce that Silver Mines Limited
("Silver Mines")
(ASX: SVL) has optioned Outcrop Silver's Kramer Hills brownfield oxide gold
property in
San Bernardino, California
, USA. Silver Mines may earn up to an 80% stake in Kramer
Hills by paying approximately
US$6,000,000
(approximately
C$8.2 million
) in a combination of cash
and Silver Mines common shares
("Shares")
and free carrying Outcrop Silver through completion of
a feasibility study.
Kramer Hills consists of 569 BLM claims covering approximately 48 km
2
surrounding a patented
claim covering the historic Shaherald oxide gold mine. The project lies along a mapped fault zone
approximately 7 kilometres long, with historic shafts, adits and an open pit extending for over 4
kilometers.
"Optioning Kramer Hills to Silver Mines continues our strategy of unlocking value from non-core
assets while we focus capital on expanding the high-grade
Santa Ana
silver project," comments
Ian
Harris
, CEO of Outcrop Silver. "Silver Mines has the capital and the expertise to progress Kramer
Hills and we are looking forward to partnering with them."
Transaction
On
June 11, 2025
, Silver Mines purchased an option on Kramer Hills for
US$500,000
payable in
cash and subject to the approval of the ASX, 23,500,000 Shares (
A$0.13
share on
June 10, 2025
).
The Shares are subject to a voluntary escrow of 12 months. Silver Mines has the option to earn-in to
50% of Kramer Hills by funding
US$3,500,000
in exploration within 2 years, issuing an additional
US$1,500,000
in Shares and funding the underlying option payments on the patented ground.
Silver Mines has the option to earn-in to an additional 30% (80% total) by issuing an additional
US$2,000,000
in Shares and free carrying Outcrop Silver through completion of a feasibility study.
Upon completion of a feasibility study Outcrop Silver has the option to form a joint venture with Silver
Mines or convert it's remaining 20% stake into a 2% net smelter return royalty.
The Kramer Hills project was acquired through the amalgamation with Zacapa Resources Ltd.
("
Zacapa
"). Zacapa's portfolio also included the Pearl porphyr copper project ("
Pearl
") in
Arizona
which is optioned to Golden Mile Resources Limited ("
Golden Mile
") and the 100% owned South
Bullfrog gold project in
Beatty, Nevada
adjacent to
Anglo Gold's
Silicon and Merlin discoveries. Pearl
is currently being drill tested by
Golden Mile
(see news releases dated
May 8, 2025
and
June 6, 2025
).
About Outcrop Silver
Outcrop Silver is a leading explorer and developer focused on advancing its flagship
Santa Ana
high-
grade silver project in
Colombia
. Leveraging a disciplined and seasoned team of professionals with
decades of experience in the region. Outcrop Silver is dedicated to expanding current mineral
resources through strategic exploration initiatives.
At the core of our operations is a commitment to responsible mining practices and community
engagement, underscoring our approach to sustainable development. Our expertise in navigating
complex geological and market conditions enables us to consistently identify and capitalize on
opportunities to enhance shareholder value. With a deep understanding of the Colombian mining
landscape and a track record of successful exploration, Outcrop Silver is poised to transform the
Santa Ana
project into a significant silver producer, contributing positively to the local economy and
setting new standards in the mining industry.
About Silver Mines
Silver Mines owns the Bowdens Silver Project located in central
New South Wales
, approximately 26
kilometres east of Mudgee. The consolidated project area comprises 2,115 km
2
of titles covering
approximately 80 kilometres of strike of the highly mineralised Rylstone Volcanics. Multiple target
styles and mineral occurrences have potential throughout the district including analogues to Bowdens
Silver, high-grade silver-lead-zinc epithermal and volcanogenic massive sulphide (VMS) systems and
copper-gold targets.
Bowdens Silver is the largest undeveloped silver deposit in
Australia
with substantial resources and
a considerable body of high-quality technical work completed. The project boasts outstanding
logistics for mine development.
ON BEHALF OF THE BOARD OF DIRECTORS
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Certain information contained herein constitutes "forward-looking information" under Canadian
securities legislation. Generally, forward-looking information can be identified by the use of
forward-looking terminology such as "potential," "we believe," or variations of such words and
phrases or statements that certain actions, events or results "will" occur. Forward-looking
statements are based on the opinions and estimates of management as of the date such
statements are made and they are subject to known and unknown risks, uncertainties and other
factors that may cause the actual results, level of activity, performance or achievements of Outcrop
Silver to be materially different from those expressed or implied by such forward-looking
statements or forward-looking information, including: the earn-in of the total 80% interest in Kramer
Hills by Silver Mines; the receipt of all necessary regulatory approvals, capital expenditures and
other costs, financing and additional capital requirements, completion of due diligence, general
economic, market and business conditions, new legislation, uncertainties resulting from potential
delays or changes in plans, political uncertainties, and the state of the securities markets
generally. Although management of Outcrop Silver have attempted to identify important factors that
could cause actual results to differ materially from those contained in forward-looking statements
or forward-looking information, there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that such statements will prove to
be accurate, as actual results and future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue reliance on forward-looking
statements and forward-looking information. Outcrop Silver will not update any forward-looking
statements or forward-looking information that are incorporated by reference.
SOURCE
Outcrop Silver & Gold Corporation
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For further information:
Ian Harris, Chief Executive Officer, +1 604 638 2545,
[email protected], www.outcropsilver.com; Kathy Li, Vice President of Investor Relations,
+1 778 783 2818, [email protected]
CO: Outcrop Silver & Gold Corporation
CNW 07:30e 12-JUN-25