Regency Silver Announces Increased Resource Estimate
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FOR IMMEDIATE RELEASE
NEWS RELEASE
Regency Silver Announces Increased Resource Estimate
Vancouver, BC – January 17, 2023 – Regency Silver Corp. (“Regency Silver” or the “Company”,
TSXV- RSMX and OTCQB -RSMXF) is pleased to announce an updated resource estimate for its
wholly owned Dios Padre Gold-Copper-Silver project in the state of Sonora, Mexico. The updated
resource estimate replaces the previous resource estimate contained in a Technical Report dated
November 24, 2020. The National Instrument 43 -101 ("NI 43-101") technical report describing
the details of the updated resource estimate will be filed on SEDAR ( www.sedar.com) within 45
days from the date of this press release. The resource estimate contains information from the
historic Dio s Padre silver mine only and does not include any information from the recent
discovery hole REG 22-01 which contained an intercept of 35.8 metres of 6.84 g/t gold, 0.88%
copper and 21.82 g/t silver.
In the summer of 2022 Regency added a total of 1,658 metres of drilling from 11 holes to the
resource area. The updated estimate incorporates only 1,056 meters from 8 holes since holes
REG-22-08, 09 and 10 were step out holes which were too far away to be added into the
resource estimate. Additional drilling is planned for these areas to eventually incorporate them
into the Dios Padre resource. The updated inferred resource for Dios Padre has been estimated
at 11.375 million ounces of silver equivalent, represented by 1.384 million tonnes at 255.64 g/t
silver equivalent. This is a 20% increase in inferred resources and an 8.3% increase in grade.
See the table below for the updated resource estimate:
Average Value Material Content
GM
Unmined
Breccia
Mass Ag_Eq
(UBx)
Kr, Ag in
Unmined
Breccia
KR, Au in
Unmined
Breccia Ag_Eq
(UBx)
KR, Ag in
Unmined
Breccia
Kr, Au in
Unmined
Breccia
Mt g/t g/t g/t Million
t.oz
Million t.oz Million t.oz
Unmined
Breccia
1.384 255.64 228 0.32 11.375 10.145 0.014
Total 1.384 255.64 228 0.32 11.375 10.145 0.014
The updated resource estimate on the Dios Padre Property includes inferred mineral resources.
An ‘Inferred Mineral Resource’ is that part of a Mineral Resource for which quantity and grade
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or quality are estimated on the basis of limited geological evidenc e and sampling. Geological
evidence is sufficient to imply but not verify geological and grade or quality continuity. An
Inferred Mineral Resource has a lower level of confidence than that applying to an Indicated
Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that
the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources
with continued exploration. The formula for silver equivalent used is: AgEq (g/t) =((Ag(g/t)*Ag
price*Ag recovery)+((Au (g/t)*Au price*Au recovery))/(Ag price*Ag recovery) based on a silver
price of $17.00/oz and a gold price of $1,479/oz and assumed metallurgical recoveries of 92% Ag
and 91% Au, the same as the previous resource estimate. The effective internal cut‐off grade of
120 g/t silver equivalent was also estimated using the metal prices and recoveries above, and is
unchanged from the previous resource estimate.
Both the updated and previous resource estimate have been prepared by Gordon Gibson, B.Sc.,
P.Geo. The previous resource estimated an inferred resource of 9.5 million troy ounces of silver
equivalent at a grade of 236 g/t Ag Eq. (1.25 mt @ 221.70 g/t Ag + 1.25 mt @ 0.17 g/t Au). It
was derived from information obtained from a total of 10,425 metres of previous drilling in 66
core drill holes.
For further details about Regency Silver please visit the Company’s website at www.Regency-
Silver.com.
Technical Information
The technical information contained in this news release has been reviewed by Company director
Michael Tucker, P.Geo, who is recognized as a Qualified Person under the guidelines of National
Instrument 43-101. Mr. Tucker is a director of the Company and for that reason is not considered
independent. Mr. Tucker has read and approved the technical contents of this news release.
ABOUT REGENCY SILVER CORP.
Regency Silver is a gold -copper-silver exploration company focused on the Americas. Regency
Silver is led by a team of experienced professionals with expertise in both exploration and
production. Regency Silver’s flagship project is the Dios Padre gold -copper-silver project in
Sonora, Mexico.
Contact Information
Regency Silver Corp.
Bruce Bragagnolo, Executive Chairman
Phone: 604-417-9517
Email: [email protected]
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Gijsbert Groenewegen, Chief Executive Officer
Phone: 1-646-247-1000
Email: [email protected]
Neither the TSX Venture Exchange nor its Regulat ion 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.
Information Concerning Estimates of Mineral Resources
The scientific and technical information in this news release was prepared in accordance with NI 43 -101
which differs significantly from the requirements of the U.S. Securities and Exchange Commission (the
"SEC"). The terms "measured mineral resource", "indicated mineral resource" and "inferred mineral
resource" used herein are in reference to the mining terms defined in the Canadian Institute of Mining,
Metallurgy and Petroleum Standards (the "CIM Definition Standards"), which definitions have been
adopted by NI 43 -101. Accordingly, i nformation contained herein providing descriptions of our mineral
deposits in accordance with NI 43-101 may not be comparable to similar information made public by other
U.S. companies subject to the United States federal securities laws and the rules and regulations
thereunder.
You are cautioned not to assume that any part or all of mineral resources will ever be converted into
reserves. Pursuant to CIM Definition Standards, "inferred mineral resources" are that part of a mineral
resource for which quantity and grade or quality are estimated on the basis of limited geological evidence
and sampling. Such geological evidence is sufficient to imply but not verify geological and grade or quality
continuity. An inferred mineral resource has a lower level of confidence than that applying to an indicated
mineral resource and must not be converted to a mineral reserve. However, it is reasonably expected that
the majority of inferred mineral resources could be upgraded to indicated mineral resources with
continued exploration. Under Canadian rules, estimates of inferred mineral resources may not form the
basis of feasibility or pre -feasibility studies, except in rare cases. Investors are cautioned not to assume
that all or any part of an inferred mineral resource is e conomically or legally mineable. Disclosure of
"contained ounces" in a resource is permitted disclosure under Canadian regulations; however, the SEC
normally only permits issuers to report mineralization that does not constitute "reserves" by SEC
standards as in place tonnage and grade without reference to unit measures.
Canadian standards, including the CIM Definition Standards and NI 43 -101, differ significantly from
standards in the SEC Industry Guide 7. Effective February 25, 2019, the SEC adopted new mining disclosure
rules under subpart 1300 of Regulation S -K of the United States Securities Act of 1933, as amended (the
"SEC Modernization Rules"), with compliance required for the first fiscal year beginning on or
after January 1, 2021. The SEC Moderniza tion Rules replace the historical property disclosure
requirements included in SEC Industry Guide 7. As a result of the adoption of the SEC Modernization Rules,
the SEC now recognizes estimates of "measured mineral resources", "indicated mineral resources" and
"inferred mineral resources". Information regarding mineral resources contained or referenced herein
may not be comparable to similar information made public by companies that report according to U.S.
standards. While the SEC Modernization Rules are p urported to be "substantially similar" to the CIM
Definition Standards, readers are cautioned that there are differences between the SEC Modernization
Rules and the CIM Definitions Standards. Accordingly, there is no assurance any mineral resources that
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the Company may report as "measured mineral resources", "indicated mineral resources" and "inferred
mineral resources" under NI 43 -101 would be the same had the Company prepared the resource
estimates under the standards adopted under the SEC Modernization Rules.
Cautionary Note Regarding Forward -Looking Statements: This news release includes certain forward -
looking statements and forward -looking information (together, “forward -looking statements”). All
statements other than statements of historical fact included in this release, including, without limitation,
statements regarding the Project by the Company. There can be no assurance that such statements will
prove to be accurate and actual results and future events may vary from those anticipated in such
statements. Important risk factors that could cause actual results to differ materially from the Company's
plans or expectations include the risk that regulatory changes, fundraising, and risk associated with mineral
exploration, including the risk that actual results of exploration will be different from those e xpected by
management. The forward -looking statements in this news release were developed based on the
expectations of management, including that Exchange acceptance for the proposed transaction will be
obtained, conditions will be satisfied, required fundraising will be completed and the other risks described
above will not materialize. The Company expressly disclaims any intention or obligation to update or revise
any forward-looking statements whether as a result of new information, future events or otherwise, except
as otherwise required by applicable securities legislation.