Silver Tiger Closes $11 Million Non-Brokered Private Placement With Investment by Eric Sprott
NEWS RELEASE
Silver Tiger Closes $11 Million Non-Brokered Private Placement
With Investment by Eric Sprott
HALIFAX, NOVA SCOTIA – July 28, 2020 – Silver Tiger Metals Inc. (TSXV:SLVR and
OTCQB:SLVTF) (" Silver Tiger " or the “ Corporation”) is pleased to announce that it has closed its
previously announced institutional non-brokered private placement of units of the Corporation (“Private
Placement”) for gross proceeds of $11 million, including $4 million from Eric Sprott, with the majority of
the balance invested by strategic institutional resource funds.
Silver Tiger issued an aggregate of 36,666,667 units at a price of $ 0.30 each (the “Units”). Each Unit is
comprised of one common share of the Corporation and one -half common share purchase warrant, with
each full warrant exercisable at $0.50 for 36 months after the issuance of the warrants.
Glenn Jessome, President and CEO of Silver Tiger, commented, “We are pleased to have Mr. Sprott's
support along with that of our other strategic institutional resource investors. We are now fully funded to
drill the high grade vein extensions to the North and South of the historic El Tigre Mine.”
The net proceeds from the offering shall be primarily used to fund continued exploration of the
Corporation’s El Tigre silver property located in Sonora, Mexico. A portion of the proceeds will be used
for general working capital purposes.
In connection with the closing, Silver Tiger issued 2,000,000 finder's warrants to one finder who acted on
behalf of the Corporation in connection with the Private Placement. Each finder's warrant is exercisable
into one co mmon share of the Company at $0.50 per share, for a period of 36 months from the closing
date.
All common shares issued in connection with the Private Placement and all common shares issued in
connection with the finder's warrants are subject to a four -month hold period that expires on November
28, 2020.
Red Cloud Summer Silver Conference – July 28, 2020
Glenn Jessome, the President and CEO of Silver Tiger , will be a panelist at the virtual Red Cloud
Summer Silver Conference today and he will be providing an El Tigre VRIFY presentation at the
Conference at 3:45 EST. Please click on the link below to register for the Conference.
https://redcloud.eventsair.com/red-cloud-2020-silver-summer-mini-
conference/rc2020summersilverregistration/Site/Register
About the El Tigre Silver Property
The El Tigre silver p roperty lies at the northern end of the Sierra Madre gold belt which hosts m any
epithermal gold and silver deposits including Dolores , Santa Elena and Chispas at the northern end . In
1896, gold was first discovered on the property in the Gold Hill area and mining started with the Brown
Shaft in 1903. The focus soon changed to mining high -grade silver veins in the area with much of the
production coming from the El Tigre vein. Underground mining on the El Tigre vein extended 1,450
meters along strike and mined on 14 levels to a depth of 450 meters. By the time the mine closed in
1938, it is reported to have produced a total of 67.4 million ounces of silver and 353,000 ounces of gold
from 1.87 million tons (Craig, 2012).
Silver Tiger’s district scale El Tigre silver property is approximately 35 kilometers long and c omprises
28,414 hectares and includes 25 kilometers of the prolific Sierra Madre trend . The El Tigre silver and
gold deposit is related to a series of high -grade epithermal veins controlled by a north -south trending
structure cutting across the andesitic and rhyolitic tuffs of the Sierra Madre Volcanic Complex within a
broad gold and silver mineralized prophylitic altern ation zone. The veins dip steeply to the west and are
typically 1 meter wide but locally can be up to 5 meters in width. The veins, structures and mineralized
zones outcrop on surface and have been traced for 5.3 kilometers along strike. Historical mining and
exploration activities focused on a 1.5 kilometer portion of the southern end of the deposits, principally on
the El Tigre, Seitz Kelly and Sooy veins. The unexplored Caleigh, Fundadora and Protectora exposed
veins continue north for more than 3 kilometers and will be targets of Silver Tiger’s exploration.
El Tigre Resource Estimate
After acquiring El Tigre, the Corporation drilled 12,500 meters to define the halo of near surface gold
mineralization around the mined high-grade veins of the historic El Tigre Mine. This allowed Silver Tiger
to deliver a maiden resource estimate for the El Tigre Property to a depth of 150 meters containing
indicated resources of 661,000 gold equivalent ounces at 0.77 g/t (21 g/t silver and 0.51 g/t gold) and
inferred resources of 341,000 gold equivalent ounces at 1.59 g/t (88 g/t silver and 0.52 g/t gold). The
National Instrument 43 -101 Technical Report is available on the Co rporation’s website and on SEDAR
under the Corporation’s profile.
Qualified Person
David R. Duncan, P. Geo., V.P. Exploration of the Corporation, is the Qualified Person for Silver Tiger as
defined under National Instrument 43 -101. Mr. Duncan has reviewed and approved the scientific and
technical information in this press release and has reviewed the Technical Report.
VRIFY Slide Deck and 3D Presentation – Silver Tiger’s El Tigre Silver Property
VRIFY is a platform being used by companies to communicate 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. Corporate Profile on VRIFY at: https://vrify.com
The VRIFY Slide Deck and 3D Presentation for Silver Tiger Metals Inc. can be viewed at:
https://vrify.com/explore/decks/492 and on the Company’s website at: www.silvertigermetals.com.
For further information, please contact:
Glenn Jessome
President and CEO
902 492 0298
CAUTIONARY STATEMENT:
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.
This News Release includes certain “forward -looking statements”. All s tatements other than statements of historical fact
included in this release, including, without limitation, statements regarding potential mineralization, resources and reserve s, the
ability to convert inferred resources to indicated resources, the ability to complete future drilling programs and infill sampling,
the ability to extend resource blocks, the similarity of mineralization at El Tigre to Delores, Santa Elena and Chispas, exploration
results, and future plans and objectives of Silver Tiger , are fo rward-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”, “vision”, “goals ”, “objective” and “outlook” and other
similar words. Although Silver Tiger believes the expectations expressed in such forward -looking statements are based on
reasonable assumptions, there can be no assurance that such statements will prove to be accurate and actual results and future
events could differ materially from those anticipated in such statements. Important factors that could cause actual results to
differ materially from Silver Tiger’s expectations include risks and uncertainties related to exploration, development, operations,
commodity prices and global financial volatility, risk and uncertainties of operating in a foreign jurisdiction as well as additional
risks described from time to time in the filings made by Silver Tiger with securities regulators.
(Not for distribution to US wire services or for dissemination in the United States of America)