Silver One Acquires 100% of the Past Producing Candelaria Silver MINE Project, Nevada
SILVER ONE ACQUIRES 100% OF THE PAST PRODUCING CANDELARIA SILVER
MINE PROJECT, NEVADA
Vancouver, British Columbia--(May 31, 2023) - Silver One Resources Inc. (TSXV: SVE) (OTC QX: SLVRF)
(FSE: BRK1) (“Silver One” or the “Company”) is pleased to announce that it has acquired a 100% interest
in the past producing Candelaria silver mine project in Nevada from SSR Mining Inc. (“SSR Mining”).
In order to obtain its 100% interest, Silver One previously issued to SSR Mining a total US $3,100,000 of
common shares (being 10,424,374 common shares) over a three year period from 2017 to 2020, and
assumed an US$2,491,757 reclamation bond filed with the BLM.
Greg Crowe, President and CEO of Silver One commented: “ Securing the 100% interest in Candelaria
represents a major milestone in the Company’s history. Candelaria was a former producer, with Kinross
Gold operating the open-pit mine up until 1997. Historically it pro duced over 60 million ounces of silver.
Operations were shut down due to a major drop in silver prices to under US$5.00 per ounce and the
property was sold to SSR Mining. Silver One entered into an agreement with SSR Mining in 2017, giving
Silver One the ability to acquire a 100% interest in the project. Silver One is now poi sed to advance the
project and continue evaluating the potential to bring the operation back into production. Silver One is
currently updating the historical resource estimate to a current resource and completing metallurgical
studies with the aim of comp leting an economic study. The property also hosts significant exploration
potential for silver, gold and copper.”
As part of its acquisition of the Candelaria silver mine project, the Company did not grant a royalty to SSR
Mining.
Prior to the Company’s acquisition of Candelaria silver mine project, the Company and SSR Mining agreed
to extend the option end date and , in consideration of which, the Company agreed to issue 250,000
common shares to SSR Mining. The issuance of the shares is subject to TSX Venture Exchange acceptance
and will be subject to restrictions on resale for a period of four months from the date of issue.
Qualified Person
The technical content of this news release has been reviewed and approved by Robert M. Cann, P. Geo,
a Qualified Person as defined by National Instrument 43-101.
About Silver One
Silver One is focused on the exploration and development of quality silver projects. The Company holds
a 100%-interest in its flagship project, the past -producing Candelaria Mine located in Nevada. Potential
reprocessing of silver from the historic leach pads at Candelaria provides an opportunity for possible near-
term production. Additional opportunities lie in previously identified high -grade silver intercepts down-
dip and potentially increasing the substantive silver mineralization along -strike from the two past -
producing open pits.
The Company has staked 636 lode claims and entered into a Lease/Purchase Agreement to acquire five
patented claims on its Cherokee project located in Lincoln County, Nevada, host to multiple silver-copper-
gold vein systems, traced to date for over 11 km along-strike.
Silver One holds an option to acquire a 100% interest in the Silver Phoenix Project. The Silver Phoenix
Project is a very high -grade native silver prospect that lies within the “Arizona Silver Belt,” immediately
adjacent to the prolific copper producing area of Globe, Arizona.
For more information, please contact:
Silver One Resources Inc.
Gary Lindsey - VP, Investor Relations
Phone: 604-974‐5274
Mobile : (720) 273-6224
Email : [email protected]
Forward-Looking Statements
Information set forth in this news release contains forward -looking statements that are based on
assumptions as of the date of this news release. These statements reflect management's current
estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Silver One
cautions that all forward-looking statements are inherently uncertain, and that actual performance may
be affected by a number of material factors, many of which are beyond Silver One's control. Such factors
include, among other things: risks and uncertainties relating to Silver One's limited operating history,
ability to obtain sufficient financing to carry out its exploration and development objectives on the
Candelaria Project, obtaining the necessary permits to carry out its activities and the need to comply with
environmental and governmental regulations. Accordingly, actual and future events, conditions and
results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied
in the forward-looking information. Except as required under applicable securities legislation, Silver One
undertakes no obligation to publicly update or revise forward-looking information.
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.