Silver Tiger To Restart Safe Exploration at El Tigre and Closes Private Placement
NEWS RELEASE
Silver Tiger To Restart Safe Exploration at El Tigre
and Closes Private Placement
HALIFAX, NOVA SCOTIA – May 22, 2020 - Silver Tiger Metals Inc. (TSXV:SLVR) ("Silver Tiger" or
the “Company”) is pleased to announce that it will begin a saf e, phased restart of exploration at its El Tigre
property beginning June 1, 2020. This restart of exploration is following the Mexican Health Ministry’s
decree on May 13, 2020 that amends the March 30, 2020 decree to include mining as an essential service
effective June 1, 2020.
Silver Tiger has closed its previously announced non-brokered private placement raising $675,000 through
the issuance of 9,642,857 units at a price of $0. 07 per unit. Each unit consisting of one (1) Common Share
and one-half (1/2) warrant of the Company. Every two (2) one-half common share purchase warrants of the
Company entitling the subscriber to acquire one (1) common share of the Company for $0.10 for a period of
twenty-four (24) months from the closing date. The common shares issued pursuant to this private placement
are subject to a 4 month hold period that expires on September 23, 2020. The proceeds from the private
placement will be used for Silver Tiger ’s El Tigre Property in Sonora, Mexico and for general working
capital purposes. The private placement remains subject to final a cceptance by the TSX Venture Exchange
(the “Exchange”).
CEO, Glenn Jessome states, “Our focus will always be the health and safety of our employees, contractors,
their families and the neighboring communities as we begin to explore again. I would like to thank all of our
employees and contractors for the ongoing support during this unprecendented time. Our exploration team
is ready t o get back to work at El Tigre. The historic El Tigre mine produced over 200 million silver
equivalent ounces at an average grade of over 2 kgs per ton from 1903 to 1938. It is this tenor of gr ade on
our large land package which we look forward to exploiting. I urge all to view the 3D Presentation and Slide
Deck of the El Tigre property at Silver Tiger’s profile page on https://vrify.com or on the VRIFY app.”
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 Company’s website at: www.silvertigermetals.com.
As previously announced on December 20, 2019, Silver Tiger has settled $392,121 of debt owed to
geological service and drilling companies for exploration work conducted for the Company at its El Tigre
Property by issuing 5,726,157 shares to SPM Mineria S.A. de C.V. and 809,209 shares to SPM P erforacion
SA de R.L. de C.V. This shares for d ebt transaction was approved by the Exchange and is subject to their
final acceptance.
Silver Tiger compensates its non-executive directors and consultants with stock options only, in lieu of any
cash payment. The last grant of stock options and DSU’s to officers, directors and consultants of the
Company was in January, 2019. Silver Tiger has granted 1,450,000 DSU’s at a deemed price of $0.17 and
3,275,000 stock options at a price of $0.17 each with a 10 year expiry period to certain directors, officers and
consultants.
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About Silver Tiger
Following the completion of the maiden El Tigre resource estimation (the full NI 43-101 technical report is
posted to the Company’s website at www.silvertigermetals.com 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 expa nsive 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 south, 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 ounces
of silver 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 . 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 last ho les drilled by the Company with no follow up drilling in
this area having been undertaken. The Company intends to recommence drilling these unmined Northern
high-grade vein extensions.
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.
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(Not for distribution to US wire services or for dissemination in the United States of America)
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 fu ture drilling
programs and infill sampling, the ability to extend resource blocks, the similarity of mineralization at El Tigre to the
Ocampo mine, exploration results, and future plans and objectives of Silver Tige, 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”, “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 ev ents could differ materi ally from those anticipated in such
statements. Important factors that could cause actual results to differ materially from Silver T iger’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.