Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Evrim announces Resource Upgrade at the Ermitaño Project
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TSX-V: EVM
NEWS RELEASE
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Evrim announces Resource Upgrade at the Ermitaño Project
Vancouver B.C. – April 1 , 2020: Evrim Resources Corp. (TSX.V:EVM) (“Evrim” or the “Company”) is pleased to
announce an update to the gold -silver resource on the Ermitaño Project in Sonora, Mexico. Property owner First
Majestic Silver Corp. (“First Majestic”) announced a 15% increase in grade and a 345% increase in contained silver-
equivalent ounces in the indicated resource for year-end 2019 compared to the 2018 indicated resource (First
Majestic news release of March 30, 2020) . Ermitaño is located approximately four kilometres from First Majestic’s
Santa Elena mine and is being developed as a satellite deposit . Evrim holds a 2% net smelter royalty (NSR) on the
Ermitaño Project.
Year-End 2019 Ermitaño Resource Highlights
• Indicated resource increased to 2,107,000 tonnes averaging 4.59 grams per tonne (“ g/t”) gold and 70 g/t
silver for 311,000 ounces of contained gold and 4.73 million ounces of contained silver1,2
• Inferred resource of 3, 733,000 tonnes averaging 3. 08 g/t gold and 58 g/t silver for 3 70,000 ounces of
contained gold and 6.98 million ounces of contained silver 1,2
• Grade increased 15% and silver-equivalent ounces by 345% to 30.4 million silver equivalent ounces in the
indicated-resource category1
1. Information announced by First Majestic on March 30, 2020
2. Metal prices used by First Majestic for mineral resource estimates were US$18.50/oz silver and US$1,450/oz gold
First Majestic also announced plans to invest US$29.1 million in Ermitaño mine development, mine equipment and
materials handling (see Annual Information Form filed March 30, 2020). A prefeasibility study detailing development
and production plans is expe cted to be released in the fourth quarter of this year (First Majestic news release of
February 24, 2020).
The entirety of the Ermitaño resource, including metallurgical recoveries and underground cut -off grades used in
resource estimations, can be viewed in First Majestic’s 2019 Annual Information Form filing at www.sedar.com.
“We are very pleased to see that the 33,000 metres of drilling completed by First Majestic at Ermitaño in 2019 has
contributed to increased gold and silver grades, and added ounces to the overall resource,” commented Evrim CEO
Paddy Nicol. “The confidence of the resource has also significantly improved over last year, which supports the
development that is being undertaken by First Majestic. We look forward to the economic mine studies later in
2020 with production planned for 2021.”
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Qualified Person Statement
Evrim's disclosure of technical and scientific information in this news release has been reviewed by Dave Groves,
Vice President, Exploration for Evrim. Mr. Groves is a Certified Professional Geologist (#11456) with the American
Institute of Professional Geologists and a Qualified Person under the definition of National Instrument 43-101.
The Company notes it is relying on First Majestic’s technical disclosure s of March 30, 2020, February 24, 2020 and
March 29, 2019 for the information in this news release.
About Evrim Resources
Evrim is a precious and base metals project generator, with early stage exploration projects and a database covering
substantial areas of Mexico, western Canada and portions of southwestern United States. We focus our expertise on
identifying new early stage exploration targets which are lat er advanced through option and joint venture
agreements with industry partners to create shareholder value and avoid stock dilution. Evrim’s business plan also
includes royalty creation utilizing the Company’s exploration expertise and existing projects.
On Behalf of the Board
EVRIM RESOURCES CORP.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Paddy Nicol
President & CEO
To find out more about Evrim Resources Corp. , please contact Paddy Nicol, President, Dave Groves, VP Exploration
or Liliana Wong, Marketing & Investor Relations Manager at 604-248-8648.
Visit our website at www.evrimresources.com.
Forward Looking Information
This news release includes certain statements that may be deemed "forward looking statements". All statements in this news re lease, other
than statements of historical facts, that address events or developments that Evrim Resources Corp. (the "Company“) ex pects to occur, are
forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but no t always,
identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or
that events or conditions "will", "would", "may", "could" or "should" occur.
Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such
statements are not guarantees of future performance and actual results may differ materially from those in the forward lookin g statements.
Factors that could cause the actual results to differ materially from those in forward looking stat ements include market prices, exploitation
and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors
are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially
from those projected in the forward looking statements. Forward looking statements are based on the beliefs, estimates and op inions of the
Company’s management on the date the statements are made. Except as required by securities laws, the Company undertakes no obligation
to update these forward looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.