Silver Predator Corp. Announces Option Agreement with Montego Resources, Inc.
NEWS RELEASE
TSX.V: SPD
April 3, 2017
NR 17-04
www.silverpredator.com
Silver Predator Corp. Announces Option Agreement with Montego Resources, Inc.
Toronto, Ontario, April 3, 2017: Silver Predator Corp. (TSX.V: SPD) (the “Company” or “Silver Predator ”)
announces that it has entered into an option agreement (the “ Agreement”) with Montego Resources, Inc.
(CSE: MY) (“ Montego”) pursuant to which Montego has the right to acquire from the Company certain
mining claims located in White Pine County in the State of Nevada commonly referred to as the “Taylor
Silver Property” (the “Property”).
Under the terms of the Agreement, Montego can acquire the Property in consideration for the completion
of a series of cash payment s totaling US$1,200,000, issuing 2,500,000 common shares to Silver Predator,
and incurring expenditures of at least US$700,000 on the Property. Upon completion of the payments,
share issuances and expenditures, Montego will hold a one -hundred percent interest in the Property,
subject to a two -percent net smelter returns royalty and a one -percent net profit royalty which will be
retained by the Company.
The payments, share issuances and expenditures must be completed in accordance with the following
schedule:
At Closing: US$200,000 cash and 500,000 common shares
6 months from Closing: US$100,000 cash and 300,000 common shares
12 months from Closing: US$200,000 cash, 400,000 common shares and expenditures of US$100,000
24 months from Closing: US$300,000 cash, 500,000 common shares and expenditures of US$250,000
36 months from Closing: US$400,000 cash, 800,000 common shares and expenditures of US$350,000
Completion of the transaction with Montego remains subject to the satisfaction of a number of conditions,
including the approval of the TSX Venture Exchange on behalf of the Company, the completion of filings
with the Canadian Securities Exchange by Montego, and certain other closing conditions as are customary in
transactions of this nature. There can be no assurance that these outstanding conditions will be satisfied.
The Company will provide further information in respect of the transaction as soon as it is available.
“This option agreement is a major step in the Company’s goal of improving the liquidity of our balance sheet
to enable us to seek new exploration projects,” said Dr. John T. (“Terry”) Rickard, Chief Executive Officer of
Silver Predator. “We are delighted to have Montego Resources as a partner in this transaction.”
Silver Predator Corp.
The Company holds the Taylor silver-gold project in Nevada. The Taylor project hosts a current measured
and indicated silver resource estimate of 16.8 million ounces of sil ver at an average grade of 1.89 ounces
per ton and an inferred resource of 3.9 million silver ounces at 2.30 ounces per ton (1), is open to
expansion, and is in a district that has identified the potential for discovery of addit ional silver and gold
deposits. The company also holds additional early stage exploration properties in Nevada and the Silver
Valley of Idaho.
Mr. Michael Maslowski, CPG, a Qualified Person as defined by National Instrument 43 -101 and a
consultant for the Company, has reviewed, verified and approved disclosure of the technical information
contained in this news release
For additional information:
Nathan A. Tewalt
Chairman
208-635-5415
or
John T. Rickard
Chief Executive Officer
(208) 635-5415
1) National Instrument 43-101 Technical Report; NI 43 -101 of the Taylor Silver Project, White Pine County, Nevada,
USA by Thomas H. Chadwick, Dean D. Turner, and Patrick J. Hollenbeck dated March 18, 2013 filed on SEDAR.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the
information contained herein.
This press release contains forward- looking statements regarding future events , including the ability of the Company
to successfully conclude the proposed sale of assets and to meet future payment obligations under the notes. There
are numerous risks and uncertainties that could cause actual results and Silver Predators’ plans and objectives to differ
materially from those expressed in t he forward- looking statements. Actual results and future events could differ
materially from those anticipated in such information. These and all subsequent written and oral forward -looking
information are based on estimates and opinions of management on the dates they are made and are expressly
qualified in their entirety by this notice. Except as required by law, Silver Predator assumes no obligation to update
forward-looking information should circumstances or management's estimates or opinions change.