Silver Tiger Metals Inc. Announces Bought Deal Financing
Silver Tiger Metals Inc. Announces Bought Deal Financing
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR
DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
All monetary amounts are expressed in Canadian Dollars, unless otherwise indicated.
HALIFAX, NOVA SCOTIA, March 24, 2025 – Silver Tiger Metals Inc. (TSXV:SLVR, OTCQX:SLVTF) (the
“Company” or “Silver Tiger”) is pleased to announce it has entered into an agreement with Stifel Canada
and Desjardins Capital Markets, to act as co-lead underwriters (together, the “Co-Lead Underwriters”) and
joint bookrunners (together with a syndicate of underwriters, the “ Underwriters”) pursuant to which the
Underwriters have agreed to purchase, on a bought deal basis, 45,455,000 common shares of the
Company (the “Common Shares”) at a price of C$0.33 per Common Share (the “Offering Price”) for gross
proceeds to the Company of approximately C$15,000,150 (the “Offering”).
The Company will grant the Underwriters an option, exercisable, in whole or in part, at any time until and
including 30 days following the closing of the Offering, to purchase up to an additional 15% of the Offering.
If this option is exercised in full, an additional C$2,250,023 in gross proceeds will be raised pursuant to the
Offering and the aggregate gross proceeds of the Offering will be approximately C$17,250, 173.
The Company plans to use the net proceeds from the Offering to fund exploration and development
expenditures at the Company’s El Tigre Project in Mexico, as well as for working capital and general
corporate purposes. The Common Shares will be offered by way of a short form prospectus to be filed in
all provinces of Canada, except Québec. The Common Shares will also be sold to U.S. buyers on a private
placement basis pursuant to an exemption from the registration requir ements in Rule 144A of the United
States Securities Act of 1933, as amended, and other jurisdictions outside of Canada provided that no
prospectus filing or comparable obligation arises.
The Offering is scheduled to close on or about April 14, 2025 and is subject to certain conditions including,
but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange
and the securities regulatory authorities.
The Preliminary and Final Prospectus’ will be filed with the securities commissions in each of the provinces
of Canada , except Quebec, and will be available on SEDAR+ at www.sedarplus.ca. Alternatively, the
Preliminary and Final Prospectus’ may be obtained upon request by contacting the Company or Stifel in
Canada, attention: [email protected].
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of the securities in any state in which such offer, solicitation or sale would be
unlawful. The securities being offered have not be en, nor will they be, registered under the United
States Securities Act of 1933, as amended (the “1933 Act”) and may not be offered or sold in the
United States absent registration or an applicable exemption from the registration requirements of
the 1933 Act, as amended, and application state securities laws.
About Silver Tiger and the El Tigre Historic Mine District
Silver Tiger Metals Inc. is a Canadian company whose management has more than 25 years’ experience
discovering, financing and building large hydrothermal silver projects in Mexico. Silver Tiger’s 100%
owned 28,414 hectare Historic El Tigre Mining District is located in Sonora, Mexico. Principled
environmental, social and governance practices are core priorities at Silver Tiger. The El Tigre historic
mine district is located in Sonora, Mexico and lies at the northern end of the Sierra Madre silver and gold
belt which hosts many epithermal silver and gold deposits, including Dolores, Santa Elena and Las
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 production coming from 3 parallel veins the El Tigre Vein, the Seitz Kelley Vein and the
Sooy Vein. Underground mining on the middle El Tigre vein extended 1,450 meters along strike and was
mined on 14 levels to a depth of approximately 450 meters. The Seitz Kelley Vein was mined along strike
for 1 kilometer to a depth of approximately 200 meters. The Sooy Vein was only mined along strike for
250 meters to a depth of approximately 150 meters. Mining abruptly stopped on all 3 of these veins when
the price of silver collapsed to less than 20¢ per ounce with the onset of the Great Depression. By the
time the mine closed in 1930, it is reported to have produced a total of 353,000 ounces of gold and 67.4
million ounces of silver from 1.87 million tons (Craig, 2012). The average grade mined during this period
was over 2 kilograms silver equivalent per ton. The El Tigre silver and gold deposit is relat ed 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 silver and gold mineralized
prophylitic alteration zone developed in the El Tigre Formation that can be up to 150 meters wide. The
veins dip steeply to the west and are typically 0.5 meter wide but locally can be up to 5 meters in width.
The veins, structures and mineralized zones outcrop on surface and have been tra ced for 5.3 kilometers
along strike in our brownfield exploration area. Historical mining and exploration activities focused on a
1.6 kilometer portion of the southern end of the deposits, principally on the El Tigre, Seitz Kelly and Sooy
veins. The under explored Caleigh, Benjamin, Protectora and the Fundadora exposed veins continue
north for more than 3 kilometers. Silver Tiger has delivered its maiden 43-101 compliant resource
estimate and is currently drilling to update its resource estimate and publish a PEA
VRIFY Slide Deck and 3D Presentation – Silver Tiger’s El Tigre Project
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. Company 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 Corporation’s website at: www.silvertigermetals.com.
Procedure, Quality Assurance / Quality Control and Data Verification
The diamond drill core (HQ size) is geologically logged, photographed and marked for sampling. When
the sample lengths are determined, the full core is sawn with a diamond blade core saw with one half of
the core being bagged and tagged for assay. The remaining half portion is returned to the core trays for
storage and/or for metallurgical test work. The sealed and tagged sample bags are transported to the
Bureau Veritas facility in Hermosillo, Mexico. Bureau Veritas crushes the samples (Code PRP70 -250) and
prepares 200-300 gram pulp samples with ninety percent passing Tyler 200 mesh (Code PUL85). The
pulps are assayed for gold using a 30-gram charge by fire assay (Code FA430) and over limits greater
than 10 grams per tonne are re-assayed using a gravimetric finish (Code FA530). Silver and multi-
element analysis is completed using total digestion (Code MA200 Total Digestion ICP). Over limits
greater than 100 grams per tonne silver are re-assayed using a gravimetric finish (Code FA530). Quality
assurance and quality control ("QA/QC") procedures monitor the chain-of-custody of the samples and
includes the systematic insertion and monitoring of appropriate reference materials (certified standards,
blanks and duplicates) into the sample strings. The results of the assaying of the QA/QC material
included in each batch are tracked to ensure the integrity of the assay data. All results stated in this
announcement have passed Silver Tiger’s QA/QC protocols.
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.
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 statements other than
statements of historical fact included in this release, including, without limitation, statements regarding
potential mineralization, resources and reserves, 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 forward-looking statements that involve
various risks and uncertainties. Forwardlooking 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 uncertainti es 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.