Silver Valley Metals Appoints Director of Corporate Development
Silver Valley Metals Appoints Director of Corporate
Development
VANCOUVER, BC
,
Jan. 18, 2023
/CNW/ - Silver Valley Metals Corp. (TSXV: SILV) (OTCQB: SVMFF) ("Silver Valley" or the
"Company"), is pleased to announce the appointment of
Douglas Dobbs
, Corporate Development Director. Mr. Dobbs brings
more than 25 years of experience in senior leadership and board positions including Mines Management, Inc. (acquired by
Hecla Mining (NYSE: HL), Avista Labs Corp. (NYSE: AVA), Idaho North Mines, and investment firms Piper Jaffray Co. and
National Securities Corp. Mr. Dobbs is a graduate of
Hillsdale College
with a bachelor's degree in Economics, and he has
been a speaker at numerous investment conferences throughout
North America
and
Europe
discussing the topics of gold,
silver, investing and economics.
"We welcome Doug at this very important juncture in
Silver Valley's
development where the Company is now transitioning
from the acquisition of its flagship Ranger-Page project 13 months ago, followed by a now completed comprehensive
exploration campaign from 2022 which is starting to deliver excellent results that will be announced over the upcoming
weeks. Exploration activities conducted in 2022 included ground geophysics, geochemical sampling, other field work,
structural analysis, and 3D modeling, which is providing valuable data to establish quality drill targets.
An inaugural drilling program in 2023 is planned to build upon the historic high-grade resources, existing mineralization that
remains open at four shallow historic mines and importantly, new high priority targets outside the areas of historical
production," says CEO,
Brandon Rook
.
Douglas Dobbs
will provide business advisory, corporate development, and investor relations services to the Company
through his company Doug Dobbs Consulting LLC ("Dobbs Consulting") pursuant to a consulting agreement which is to take
effect immediately and which has an initial twelve-month term subject to the right of either party to terminate on 30 days'
notice and subject to renewal by mutual consent after the initial term (the "Consulting Agreement"). Under the terms of the
Consulting Agreement Dobbs Consulting will be paid
US$5,000
per month plus certain approved expenses from the
Company's working capital and be issued 200,000 five-year stock options (which will vest as to 25% each three months
going forward) at an exercise price of
$0.15
.
Financing:
The Company has closed its previously announced
$0.075
Unit Private Placement Financing for aggregate gross proceeds
of
$967,283.55
. The Company has issued 12,897,114 Units, each Unit consisting of 1 common share and 1 common share
purchase warrant, each warrant being exercisable at
$0.15
for 2 years.
The Financing was effected with 3 insiders, for a total of 576,667 Units or
$43,250
, each insider subscription being a
"related party transaction" as such term is defined under MI 61-101 – Protection of Minority Security Holders in Special
Transactions. The Company is relying on exemptions from the formal valuation requirement of MI-61-101 under sections
5.5(a) and (b) of MI 61-101 in respect of the transaction as the fair market value of the transaction, insofar as it involves the
interested party, is not more than 25% of the Company's market capitalization.
The Company paid cash finder's fees totaling
$62,261
and issued 830,147 broker warrants exercisable at
$0.15
for 2
years. All securities issued pursuant to the Financing will be subject to a 4-month hold.
The Company also announces that it has issued 1,900,000 stock options to various Officers, Directors, and Consultants,
with an exercise price of
$0.15
, expiring
January 13
, 2028.
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.
About: Ranger-Page project:
The Ranger-Page Project ("The Project") is in the
Silver Valley
, northern
Idaho, USA
, 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 comprise 6 historical mines on patented claims, without royalties. The largest of these, the Page Mine, was a
top ten producer in the
Silver Valley
yielding over 1.1 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 open at depth and along strike beyond what has
been identified to date.
Historical mining on the properties shared underground infrastructure which connected the larger Page mine with five shallow
historic 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 as modern systematic exploration is being applied
to the project for the first time.
About: Silver Valley Metals:
Silver Valley
is a Canadian exploration company comprised of a group of experienced exploration, mining, and financing
specialists focused on the pursuit of mineral discovery and development. We are focused on the advancement of strategic
and precious mineral properties including Lithium-Potash in
Mexico
and Silver-Lead-Zinc in northern
Idaho
, USA.
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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Silver Valley Metals Corp.
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For further information:
604-800-4710, [email protected]
CO: Silver Valley Metals Corp.
CNW 07:00e 18-JAN-23