Silver Predator Corp. Provides Update on Option Agreement with Montego Resources Inc.
NEWS RELEASE
TSX.V: SPD
May 1, 2019
NR 19-01
www.silverpredator.com
Silver Predator Corp. Provides Update on Option Agreement
with Montego Resources Inc.
Toronto, Ontario, May 1, 2019: Silver Predator Corp. (TSXV: SPD) (“Silver Predator”) provides the following
update respecting its option agreement (the “ Agreement”) with Montego Resources Inc. (CSE: MY)
(“Montego”). Under the Agreement, Montego held the right to acquire from Silver Predator a series of certain
mining claims located in White Pine County in the State of Nevada commonly referred to as the Taylor Silver
Property (the “Property”).
Pursuant to Silver Predator’s press releases of April 3, and April 21, 2017, under the terms of the Agreement,
Montego was entitled to acquire the Property in consideration for the completion of a series of cash payments
totaling US$1,200,000, issuing 2,500,000 Montego 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, the Agreement contemplated that Montego would 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 Silver Predator.
The Agreement provides that t he 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
The closing took place on April 20, 2017.
Silver Predator has delivered a letter to the board of directors of Montego noting that the payment due on
April 20, 2019 has not been made, and the expenditures required to have been incurred by that date have
not been made.
Without prejudice to any rights it has under the Agreement, Silver Predator is attempting to negotiate with
Montego an extension to the April 20, 2019 deadline. A further news release will be issued by Silver Predator
when the outcome of those negotiations has been determined.
Silver Predator Corp.
Silver Predator is a mining exploration company, with properties in the western US. In addition to the Taylor
Silver Project, which is under option to Montego, Silver Predator holds the Copper King project, located in
the eastern portion o f the famous Coeur d’ Alene Silver District near Mullan, Idaho. The Copper King
exploration target combines high grade copper-silver (lead-zinc) vein style mineralization with bedded bulk
tonnage style copper-silver (lead-zinc) mineralization, as typically found both locally and to the northwest in
Montana at Hecla Mining Company’s Spar Lake (Troy), Montanore, and Rock Peak deposits. Similar vein
targets are being mined 3 miles south of Copper King at Hecla’s Lucky Friday underground silver mine
complex. Silver Predator also holds additional early stage exploration properties in Nevada.
Mr. Tom Chadwick, CPG, a Qualified Person as defined by National Instrument 43-101 and the Vice President
for Exploration for Silver Predator , 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
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.