Silver Valley Metals Announces $500,000 Unit Financing
Silver Valley Metals Announces $500,000 Unit
Financing
VANCOUVER, BC
,
Sept. 28, 2022
/CNW/ - Silver Valley Metals Corp. (TSXV: SILV) (OTCQB: SVMFF) ("Silver
Valley" or the "Company"), a brownfields exploration Company with projects that comprise deposit(s) of lithium -
potassium (
sulphate of potash
) located in
Zacatecas
and
San Luis Potosi, Mexico
and silver-zinc-lead located in
Idaho, USA
respectively, announces a
$500,000
unit financing.
Subject to the approval of the TSX Venture Exchange, Silver Valley Metals Corporation plans to undertake a non-
brokered private placement of up to 5.55 million units at a price of
nine cents
per unit for gross proceeds of up to
$500,000
. Each unit shall comprise one common share in the capital of the company and one half of a common
share purchase warrant, with each full warrant entitling the holder to purchase one common share at a price of
18
cents
per share at any time within two years of the date of issuance. All securities to be issued under this private
placement will be subject to a four-month resale restriction.
The Company intends to close the private placement immediately following the satisfaction of customary closing
conditions, including receipt of all regulatory approvals. The net proceeds of this private placement are earmarked
for:
1
.
Completing the phase 2 exploration campaign through to the end of the year at the Ranger-Page project; this
includes completing the comprehensive geological model from four phases of geophysical surveys, numerous
geochemical surveys including soil sampling, rock chip and trench sampling, LIDAR integration, and fieldwork
structural interpretation. These programs are ongoing. Following this, a compelling multi-target drill plan will
be developed and marketed for the upcoming inaugural drill campaign.
2
.
To maintain its lithium – sulphate of potash (Li-SOP) project / deposit(s) in Mexico. This includes financing the
legal dispute regarding the lithium aspect of its deposits which the Company anticipates being resolved before
the end of the year. The expectation has been given from the Supreme Court of
Mexico
that they will provide
an answer to the validity of the Company's deposit(s) considering the amendment to the mining law that was
undertaken by the Government this past April. The Company's challenge is that the amendment is not
supported by the Mexican Constitution nor the international trade agreements between
Canada
and
Mexico
.
3
.
Project option payments at Ranger-Page.
4
.
General working capital including AGM, audit, overhead and marketing.
To view Ranger-
Page Project
and MexiCan Project presentations:
https://tinyurl.com/bde29bsm
The Company continues to move its projects' forward in a cost-effective manner with a very successful group of
Silver Valley
geologists and intends to complete significant milestones in the coming months that is anticipated to
bring positive impact to all shareholders'. Being in a tier one mining jurisdiction in
Idaho
and moreso, northern
Idaho
and the
Silver Valley
, possessing all patented claims, being the first company in this western sector of the
Silver Valley
to consolidate the area including an option to own the Page Mine (see
September 20, 2022
news
release regarding historic resources and mine extension drilling results – click here:
https://tinyurl.com/mwdpu6fn
),
an option to own five additional historic mines and applying modern exploration to the entire project package for
the first time, the Company anticipates numerous compelling high priority targets will be defined at the conclusion
of the exploration program in Q4 2022 / Q1 2023. (see
September 12, 2022
press release regarding new target
areas that are being defined outside the known and expected areas of mineralization – click here:
https://tinyurl.com/h6cdbbbp
).
And lastly, the 100% owned lithium and sulphate of potash deposits, the MexiCan project, is receiving little value in
the market today but the Company remains hopeful for a positive resolution later this year which in turn will have a
positive impact for all shareholders.
Silver Valley Metals appreciates and thanks all shareholders for their support.
To subscribe for the private placement please email:
Qualified person
Timothy Mosey, BSc
, MSc, SME, is the qualified person for the company and qualified person as defined by
National Instrument 43-101. Mr. Mosey supervised the preparation of the technical information in this news
release.
About: Mexican
lithium - potassium (
sulphate of potash
)
project:
Silver Valley
owns a 100% interest in a lithium and potassium bearing salar complex comprising 4,059 hectares on
three mineral concessions (the "Mexican Projects") located on the Central Mexican Plateau in the states of
Zacatecas
, and
San Luis Potosi, Mexico
. The NI 43-101 inferred mineral resource contains 12.3Mt of Sulfate of
Potash (SOP) and 243,000 tonnes of lithium carbonate equivalent (LCE) and remains open in all directions for
expansion. The Company is currently exploring strategic alternatives for the Project to enhance shareholder value.
The Company considers the asset valuable and important.
About: Ranger-Page project:
Silver Valley's
primary focus is on its flagship Ranger-
Page Project
("The Project") located in the
Silver Valley
of
Idaho
, 60 kilometres east of Coeur d'Alene and 1 kilometre from the I-90 freeway. In 2020 Idaho was ranked the
first in the world in policy perception and 9th best mining jurisdiction (Fraser Institute Annual Mining Survey). The
Project borders the famous Bunker Hill Mine to the east and for the first time consolidates the western extent of
the prolific
Silver Valley
mining corridor by one operator in the past 100+ years.
The Project is on patented claims, there are no royalties and comprise 6 historical mines. The largest of these, the
Page Mine, was a top ten producer in the
Silver Valley
producing over 1 billion pounds of zinc and lead and 14.6
million ounces of silver. The Page Mine has high grade silver-zinc-lead historic reserves and remains wide open at
depth beyond what has been defined to date.
There is shared underground infrastructure connecting the larger Page mine with five shallow historical mines
within the larger Project area. The Company has underground mining data and surface geological data that
supports high grade silver-zinc-lead mineralization present within the shallow, undeveloped mines. These mines
remain open at depth, and laterally along strike.
Exploration potential beyond the historical mines is considered significant due to no modern systematic exploration
applied to the project.
About Silver Valley Metals Corp.
We are a group of experienced exploration, mining, and financing specialists focused on the pursuit of mineral
discovery and development. Our expertise in evaluating targets, consummating strategic and accretive outright
sales, joint ventures, and /or acquisitions is the mandate for Silver Valley Metals Corp. We look to further de-risk
potential projects via obtaining historical geological data that reflects untapped exploration potential that are in top
tier mining jurisdictions preferably near producing mines.
On behalf of the Board of Directors of Silver Valley Metals,
"Brandon Rook"
Brandon Rook
, President & CEO, Director
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE
ADEQUACY OR ACCURACY OF THIS RELEASE.
The information contained herein contains "forward-looking statements" within the meaning of applicable securities
legislation. Forward-looking statements relate to information that is based on assumptions of management,
forecasts of future results, and estimates of amounts not yet determinable. Any statements that express
predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are
not statements of historical fact and may be "forward-looking statements." Forward-looking statements are
subject to a variety of risks and uncertainties which could cause actual events or results to differ from those
reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate
financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political
and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange
listings; risks related to environmental regulation and liability; the potential for delays in exploration or development
activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to
the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent
uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of
prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will
not be consistent with the Company's expectations; risks related to commodity price fluctuations; and other risks
and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the
Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially from those described in forward-looking
statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These
forward-looking statements are made as of the date hereof and the Company does not assume any obligation to
update or revise them to reflect new events or circumstances. Actual events or results could differ materially from
the Company's expectations or projections.
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For further information:
please contact us at: 604-800-4710, [email protected]
CO: Silver Valley Metals Corp.
CNW 07:00e 28-SEP-22