Oceanus Resources Announces Name Change to Silver Tiger Metals Inc., New Trading Symbol “SLVR” and Private Placement
NEWS RELEASE
Oceanus Resources Announces Name Change to Silver Tiger Metals Inc.,
New Trading Symbol “SLVR” and Private Placement
HALIFAX, NOVA SCOTIA – May 14, 2020 - Oceanus Resources Corporation (TSXV:OCN) ("Oceanus"
or the “Company”) announces that it is changing its name to Silver Tiger Metals Inc. and its trading symbol
from “OCN” to “SLVR”.
Name and Trading Symbol Change
Effective at the start of trading on Wednesday, May 20, 2020, Silver Tiger Metals Inc. (“Silver Tiger”) will
commence trading on the TSX Venture Exchange under the new symbol "SLVR".
There is no change in the share capita l of the Company. The Company's new CUSIP number is 82831T109
and its new ISIN number is CA 82831T1093. No further action is required by existing shareholders with
respect to the name change. Certificates representing common shares of the Company will not be affected by
the name and symbol change and will not need to be exchanged.
CEO, Glenn Jessome, states, “We believe this name change more accura tely reflects the Company's
evolution as an emerging high -grade silver deposit in Sonora, Mexico. The new Silver Tiger name pays
homage to the property’s namesake historic El Tigre mine. The old El Tigre mine produced over 200
million silver equivalent ounces at a n average grade of over 2 kg s per ton from 1903 to 193 8. The old El
Tigre mine forms a small portion of our 35 k ilometer long, 28,000 hectare district size property. After
acquiring the El Tigre property , our technical team focused on the low hanging frui t and drilled off and
delivered our maiden NI 43-101 compliant resource estimate. It is the tenor of grade at El Tigre that excites
us as we begin to drill the kilometers long un-mined high-grade vein extensions to the North and South of
the old El Tigre mine.”
Private Placement
The Company also announces a non-brokered private placement to raise up to $675,000 through the issuance
of units at a price of $0.07 per unit. Each unit will consist of one common share and one-half warrant of the
Company. Every two one-half common share purchase warrants of the Company entitles the subscriber to
acquire one co mmon share of the Company for $0.10 for a period of twenty-four months from the closing
date. The Units issued pursuant to this private placement will be subject to a four month hold.
The proceeds from the private placement will be used to explore and drill the Company’s El Tigre Property
in Sonora, Mexico and for general working capital purposes . The private placement is subject to final
acceptance by the TSX Venture Exchange.
VRIFY Slide Deck
VRIFY is a platform being used by companies to c ommunicate with investors using 360° virtual tours of
remote mining assets, 3D models and interactive presentations. VRIFY can be accessed by website and with
the VRIFY iOS and Android apps.
Access the Silver Tiger Metals Inc. Company Profile on VRIFY at: https://vrify.com
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The VRIFY Slide Deck and 3D Presentation for Silver Tiger Metals Inc. can be viewed at:
https://vrify.com/explore/decks/492
About the El Tigre Property
Following the completion of the maiden El Tigre resource estimation (the full NI 43-101 technical report is
posted to the Company’s website and can also be accessed on SEDAR at www.sedar.com) the Company
directed its exploration efforts at identifying other areas of silver-gold mineralization across the expan sive
property holdings (28,414 hectares). The Company’s prospecting and mapping program identified in excess
of 10 kilometers of favorable host stratigraphy (i.e. the El Tigre formation) with several areas of
mineralization identified to the s outh, east and north-east of the old El Tigre Mine. The El Tigre formation
is the rock package that hosts the historic El Tigre Mine, which operated from 1903 to 1938, and was
reported to have produced a total of 353,000 ounces of gold and 67.4 million ou nces of silve r from 1 .87
million tonnes averaging 7.54 g/t gold and 1,308 g/t silver (Steven D. Craig, B.A., M.Sc., P. Geo. 2012).
The Company’s drilling completed after filing its’ 43 -101 compliant resource estimate intersected similar -
style silver-gold mineralization in the El Tigre formation at the Protectora, Caleigh and Fundadora areas to
the north of the old mine, as well as to the south, past Gold Hill (see Figure 1 below). Drilling to the north of
the old mine by the Company returned the following impressive silver-gold intercepts:
Hole ID Comment From To Length(1) Au Ag AgEq(2)
(meters) (meters) (meters) (g/t) (g/t) (g/t)
ET-17-144 88.25 91.40 3.15 10.1 1,990.9 2,748.4
including 88.25 89.10 0.85 37.2 7,338.9 10,128.9
and 188.65 190.15 1.50 0.024 1,107.3 1,109.1
ET-17-145 28.50 29.25 0.75 10.9 2,830.4 3,647.9
ET-17-148 90.10 90.60 0.50 9.83 2,247.1 2,984.35
Notes to Table:
(1) True width has not been calculated for each individual intercept, but true width is generally estimated at 75-90% of
drilled width. Metallurgical recoveries and net smelter returns are assumed to be 100%.
(2) Silver Equivalent (“AgEq75”) ratio based on silver to gold price ratio of 75:1 Ag:Au.
These diamond drill holes were some of the la st holes drilled by the Company with no follow up drilling in
this area having been undertaken.
As part of the Company ’s mapping and sampling program in the fall of 2019 to prepare for the upcoming
drilling program, channel samples were collected from leg acy underground exploration tunnels and from
surface samples on the Caleigh, Canon Combination (unmined portion of the El Tigre vein), Protectora and
Aguila veins located north of the old El Tigre mine (see Figure 2 below).
In the Caleigh vein, approximately 2 kilometers north of the old El Tigre Mine, underground channel sample
ETU-1007 returned 2,375.97 g/t silver equivalent consisting of 1,896.3 g/t silver and 6.40 g/t gold over a
true width of 0.50 meters . Underground Channel Sample ETU-1006 returned 2,318.35 g/t silver
equivalent consisting of 1,970.7 g/t silver and 4.64 g/t gold over a true width of 0.50 meters.
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In the Canon Combination vein (unmined portion of the El Tigre vein) underground channel sample ET U-
1012 returned 1,812.72 g/t silver equivalent consisting of 1,793.7 g/t silver and 0.25 g/t gold across a true
width of 0.50 meters.
In the Protectora vein, approximately 2 kilometers north of the old El Tigre Mine , underground channel
sample ET U-1008 returned 528.57 g/t silver equivalent consisting of 378.0 g/t silver and 2.01 g/t gold
across a true width of 0.50 meters.
Figure 1: Map of El Tigre Concessions
35 Km
6 Km
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Figure 2: 2019 Channel Sampling Results
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For further information, please contact:
Glenn Jessome
President and CEO
(902) 492-0298
CAUTIONARY STATEMENT:
Neither TSX Venture Exchange nor its Regulation Servi ces Provider (as that term is def ined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
(Not for distribution to US wire services or for dissemination in the United States of America)
This News Release includes certain “for ward-looking statements”. All statements other than sta tements of historical
fact included in this release, including, without limitation, statements regarding potential mineralization, resources and
reserves, the ab ility to convert inferred resources to indicated resources, the ability to complete future dril ling
programs and infill sampling, the ability to extend resource blocks, the similarity of mineralization at El Tigre to the
Ocampo mine, exploration results, a nd fut ure plans and objectives of Ocean us, are forward -looking statements that
involve various risks and uncertainties. Forward -looking statements are frequently characterized by words such as
“may”, “is expected to”, “anticipates”, “estimates”, “intends”, “plans”, “projection”, “could”, “visio n”, “goals”,
“objective” and “outlook” and other similar words. Although Oceanus believes the expectations expressed in su ch
forward-looking statements are based on reasonable assumptions, there can be no assurance th at such statements will
prove to be acc urate and actual results and future events could differ materially from those anticipated in such
statements. Important f actors that could cause actual results to d iffer materially from Oceanus’s expectations include
risks and uncer tainties related to exp loration, development, operations, commodity prices and global financial
volatility, risk and uncertainties of operating i n a foreign jurisdiction as well as additional risks described from time to
time in the filings made by Oceanus with securities regulators.