Silver Storm Announces Several Intercepts Exceeding 1,000 G/T Ag.eq from the Rosarios MINE
NEWS RELEASE
SILVER STORM ANNOUNCES SEVERAL INTERCEPTS EXCEEDING 1,000 G/T AG.EQ
FROM THE ROSARIOS MINE
Toronto, Ontario, August 15, 2024: Silver Storm Mining Ltd. (“ Silver Storm” or the " Company")
(TSX.V: SVRS | OTCQB: SVRSF | FSE: SVR) , is pleased to announce drill results from its Phase 2
diamond drilling program at the Company’s 100% owned La Parrilla Silver Mine Complex, located in
Durango Mexico. Results from the 14 holes (2,327 metres (“m”)) contained within this release are from
the Rosarios and San Carlos Zones, within the Rosarios mine.
An overview video on the La Parrilla Project is available at:
www.youtube.com/watch?v=dybgKXcGrYo
Key highlights include:
Numerous high-grade intercepts were encountered within the Rosarios Mine underneath and in
proximity to previous mined stopes. The current drill results, when combined with historical holes
drilled by First Majestic (“ FM”), are expected to have a positive impact on future Mineral
Resources.
• Hole RO-24-028 returned 1,306 g/t Ag.Eq 1 over 1.60 m within a broader interval of 887 g/t
Ag.Eq over 2.54 m . Hole RO -24-015 returned 1,791 g/t Ag.Eq over 0.35 m within a broader
interval of 711 g/t Ag.Eq over 1.03 m and 1,170 g/t Ag.Eq over 0.50 m and 1,071 g/t Ag.Eq
over 1.35 m within a broader interval of 598 g/t Ag.Eq over 3.91 m.
- These high-grade intercepts are located ~ 45 m to the west a previously mined stope
• Hole RO-24-032A returned 731 g/t Ag.Eq over 1.40 m and 510 g/t Ag.Eq over 0.50 m within a
broader interval of 305 g/t Ag.Eq over 5.60 m.
• Hole RO-24-034 returned 350 g/t Ag.Eq over 1.06 m, 475 g/t Ag.Eq over 0.40 m and 617 g/t
Ag.Eq over 0.42 m, 396 g/t Ag.Eq over 0.40 m and 592 g/t Ag.Eq over 0.40 m and 1,085 g/t
Ag.Eq over 0.50 m.
- These high-grade intercepts are located ~ 35 m under the last stope mined in this area
• Hole RO-24-026 returned 421 g/t Ag.Eq over 1.13 m and 316 g/t Ag.Eq over 1.72 m within a
broader interval of 276 g/t Ag.Eq over 5.46 m . Historical hole LBT -11-01 intersected 523 g/t
Ag.Eq over 0.60 m and 670 g/t Ag.Eq over 1.30 m . Hole RO-24-014 returned 285 g/t Ag.Eq
over 1.02 m and 431 g/t Ag.Eq over 0.69 m . Historical hole ILP -RO-18-60 returned 1,167 g/t
Ag.Eq over 1.45 m within a broader interval of 434 g/t Ag.Eq over 6.25 m.
- This high-grade area extends approximately 148 m below the last stope mined in this
area and 128 m below Indicated and Inferred Resources identified by SRK
Three exploration holes confirm the continuity of the San Carlos Zone, first discovered by FM in 2015
with hole ILP -14M-15-02 returning 361 g/t Ag.Eq over 1.40 m : hole RO-24-036 returned 722 g/t
Ag.Eq over 0.66 m and 284 g/t Ag.Eq over 0.50 m. The mineralization from these holes is located
135 m south of the Rosarios Zone and approximately 335 m from surface.
Greg McKenzie, President and CEO , commented: “We are pleased with the high -grade results
within Central Rosarios, now with six intercepts exceeding 1,000 g/t Ag.Eq. It is important to recognize
this area was predicted to be blank. The results reported today extend the high-grade mineralization
up to 128 m below the Indicated and Inferred Resources identified by SRK and we anticipate the
drilling will have a positive impact on future Mineral Resources, both in terms of tonnage and grade.”
Rosarios Zone
The Rosarios Zone (RO) has historically been an important part of the La Parrilla Mine Complex ,
characterized by a sulphide-bearing quartz-carbonate vein hosted within a fault zone striking 290
degrees and dipping 64 degrees to the northeast over a known strike length of approximately 2 km.
The mineralization extends vertically for 900 m and its true width varies up to 14 m. The vein sits
roughly at the northern contact of a granodiorite stock and sediments. Stockwork zones are developed
either at the footwall or hanging wall of the vein; vein splays and sulphide replacement zones are
typically developed in the hanging wall. The Rosarios Zone remains open along strike and at depth.
The zone has been subdivided into the Western, Central, and Eastern Rosarios. Phase 1 and historical
drill results from the Rosarios Zone were previously reported in the Company’s news release dated
May 27, 2024. The focus of the Phase 2 drill program has been on the Central Rosarios Zone.
Central Rosarios
Holes RO-24-024 to 034 targeted the Central Rosarios Zone with the intent of providing a sufficient
drilling density to identify Indicated Resources , as well as further extending Inferred Resources at
depth (Figures 1, 2).
Three areas of high-grade mineralization were identified in Central Rosarios (Table 1):
Hole RO-24-028 returned 1,306 g/t Ag.Eq over 1.60 m within a broader interval of 887 g/t Ag.Eq
over 2.54 m (89.70 to 92.24 m), approximately 35 m below and to the east of hole RO-24-016 which
returned 498 g/t Ag.Eq over 0.5 m and 338 g/t Ag.Eq over 0.5 m within a broader interval of 181 g/t
Ag.Eq over 3.52 m (78.82 to 82.34 m) and 30 m above and to the west of hole RO -24-015 (reported
May 27, 2024) which returned 1,791 g/t Ag.Eq over 0.35 m within a broader interval of 711 g/t Ag.Eq
over 1.03 m (75.67 to 76.70 m) and 1,170 g/t Ag.Eq over 0.50 m and 1,071 g/t Ag.Eq over 1.35 m
within a broader interval of 598 g/t Ag.Eq over 3.91 m (106.94 to 110.85 m).
• This high-grade zone is located approximately 45 m to the west of previously a mined stope
Hole RO-24-032A returned 731 g/t Ag.Eq over 1.40 m and 510 g/t Ag.Eq over 0.50 m within a
broader interval of 305 g/t Ag.Eq over 5.60 m (174.90 to 180.50 m). Hole RO -24-034 returned 350
g/t Ag.Eq over 1.06 m, 475 g/t Ag.Eq over 0.40 m and 617 g/t Ag.Eq over 0.42 m within a broader
interval of 234 g/t Ag.Eq over 4.24 m (205.06 to 209.30 m), 396 g/t Ag.Eq over 0.40 m and 592 g/t
Ag.Eq over 0.40 m within broader interval of 232 g/t Ag.Eq over 2.00 m (212.42 to 214.42 m), and
1,085 g/t Ag.Eq over 0.50 m (224.23 to 224.73 m).
• This high-grade zone is located approximately 35 m beneath the last stope mined in this area
Hole RO-24-026 returned 421 g/t Ag.Eq over 1.13 m and 316 g/t Ag.Eq over 1.72 m within a broader
interval of 276 g/t Ag.Eq over 5.46 m (201.34 to 206.80 m). Historical hole LBT-11-01, approximately
47 m to the east, intersected 523 g/t Ag.Eq over 0.60 m and 670 g/t Ag.Eq over 1.30 m within a
broader interval of 268 g/t Ag.Eq over 5.90 m (286.70 to 292.60 m). Hole RO-24-014 (reported May
27, 2024) returned 285 g/t Ag.Eq over 1.02 m (132.15 to 133.17 m) and 431 g/t Ag.Eq over 0.69 m
(139.88 to 140.57 m) and historical hole ILP-RO-18-60 returned 1,167 g/t Ag.Eq over 1.45 m within
a broader interval of 434 g/t Ag.Eq over 6.25 m (131.45 to 137.70 m).
• This high-grade zone extends approximately 148 m below the last stope mined in this
area and 128 m below Indicated and Inferred Resources identified by SRK.
Figure 1: Rosarios Zone Cross Section View to North of Key Results Holes RO-24-024 to 034 &
Historical Holes
San Carlos Zone
The San Carlos Zone (SC) was first discovered by FM through exploration drilling in 2015 with hole
ILP-14M-15-02 returning 361 g/t Ag.Eq over 1.40 m (115.45-116.85 m) (Figure 3, Table 1) . Three
follow-up holes were recently drilled testing continuity of the SC zone, with hole RO-24-036 returning
722 g/t Ag.Eq over 0.66 m (112.43 to 113.09 m) and 284 g/t Ag.Eq over 0.50 m (136.46 to 136.96
m) and hole RO -24-035 returning 156 g/t Ag.Eq over 0.50 m (159.95 to 160.45 m) . The zone
intersections in hole RO-24-035 and 036 are respectively 54 m downdip and 65 m downdip and ENE
along strike from ILP-14M-15-02. The zone in RO-24-036 is 55 m ENE along strike from RO-24-035.
The intercepts from these three holes are located 135 m south of the Rosarios Zone and approximately
335 m from surface, mineralization is comprised of a sulphide-bearing quartz vein zone, striking 245-
255 degrees and dipping 88 degrees NNW, hosted within intensely propylitic altered sediments. San
Carlos may be a fault splay from the main Rosarios Zone to the WSW into the hanging wall.
Table 1 – Select Assay Intervals from Holes RO-24-024 to RO-24-037 and Historical Results
Zone Hole From To Length
(m)
Ag.Eq(1)
g/t
Ag
g/t
Au
g/t
Pb
%
Zn
%
Cu
%
NEW RO-24-024 5.13 5.63 0.50 183 66 0.09 2.46 1.61 0.03
RO RO-24-025 71.20 72.75 1.55 215 87 0.31 1.54 2.27 0.05
RO RO-24-025 76.65 77.05 0.40 182 68 0.04 2.19 1.87 0.03
RO RO-24-026 190.40 190.95 0.55 184 166 0.10 0.24 0.12 0.06
RO RO-24-026 201.34 206.80 5.46 276 145 0.18 2.20 2.13 0.03
RO including 201.34 202.47 1.13 421 314 0.38 1.91 0.94 0.03
RO including 204.50 206.22 1.72 316 149 0.06 3.37 2.62 0.04
NEW RO-24-027 23.18 23.63 0.45 210 72 0.04 2.48 2.52 0.02
RO RO-24-027 58.17 60.00 1.83 259 141 0.35 1.08 2.25 0.08
NEW RO-24-028 74.85 75.25 0.40 204 116 0.02 3.21 0.02 0.02
RO RO-24-028 89.70 92.24 2.54 887 646 0.23 4.82 3.45 0.27
RO including 90.15 91.75 1.60 1,306 977 0.20 7.20 4.37 0.37
NEW RO-24-029 73.05 73.70 0.65 345 110 0.40 4.21 3.28 0.07
NEW RO-24-029 74.60 75.10 0.50 348 113 0.06 4.19 4.33 0.12
RO RO-24-029 145.60 148.75 3.15 227 101 0.65 1.04 1.67 0.03
RO including 146.10 146.60 0.50 362 79 2.21 1.39 2.47 0.04
RO including 148.30 148.75 0.45 362 196 0.12 2.23 3.57 0.03
RO RO-24-029 155.10 156.50 1.40 223 92 0.84 1.19 1.17 0.02
RO including 155.50 156.00 0.50 317 142 1.60 0.82 0.90 0.01
RO RO-24-029 157.00 157.50 0.50 175 73 0.43 0.99 1.50 0.02
NEW RO-24-030 65.49 66.08 0.59 142 67 0.30 1.68 0.23 0.01
NEW RO-24-030 103.60 104.09 0.49 220 65 0.01 2.37 3.31 0.06
NEW RO-24-030 147.00 147.50 0.50 196 72 0.07 2.72 1.68 0.05
RO RO-24-030 153.52 156.05 2.53 184 79 0.15 1.85 1.60 0.10
RO including 155.04 156.05 1.01 256 103 0.24 2.59 2.34 0.17
RO RO-24-030 158.49 160.15 1.66 203 124 0.09 2.26 0.41 0.13
RO including 158.49 159.00 0.51 322 219 0.11 3.22 0.26 0.22
RO RO-24-030 161.30 161.85 0.55 312 153 0.25 3.49 1.67 0.04
NEW RO-24-031 64.40 65.45 1.05 266 91 0.01 2.90 3.51 0.21
NEW including 64.40 64.80 0.40 455 210 0.02 6.54 2.48 0.52
NEW RO-24-031 67.45 67.85 0.40 183 60 0.07 2.10 2.24 0.07
NEW RO-24-031 95.25 96.00 0.75 212 69 0.01 2.42 2.81 0.06
RO RO-24-031 165.80 166.22 0.42 182 66 0.13 1.89 2.02 0.08
RO RO-24-031 169.77 170.80 1.03 162 53 0.39 1.10 1.78 0.07
NEW RO-24-032A 93.00 94.00 1.00 197 86 0.01 2.93 1.14 0.02
RO RO-24-032A 159.40 159.90 0.50 158 66 0.05 1.54 1.73 0.12
RO RO-24-032A 163.80 164.80 1.00 223 56 0.11 1.39 4.48 0.01
RO RO-24-032A 174.90 180.50 5.60 305 149 0.26 2.12 2.84 0.08
including 174.90 176.30 1.40 731 372 0.29 4.35 8.05 0.19
and 177.90 178.40 0.50 510 187 0.15 6.58 4.94 0.20
RO RO-24-032A 189.00 189.40 0.40 170 89 0.10 1.42 1.30 0.16
RO RO-24-034 196.45 196.96 0.51 278 163 0.01 4.08 0.17 0.03
RO RO-24-034 202.94 203.47 0.53 280 138 0.01 4.05 1.21 0.08
RO RO-24-034 205.06 209.30 4.24 234 106 0.07 3.08 1.50 0.04
RO including 205.59 206.65 1.06 350 153 0.06 4.73 2.42 0.07
RO and 207.68 208.08 0.40 475 230 0.04 6.34 2.63 0.03
RO and 208.88 209.30 0.42 617 256 0.28 7.52 5.01 0.08
RO RO-24-034 212.42 214.42 2.00 232 83 0.02 2.52 2.95 0.04
RO including 212.42 212.82 0.40 396 165 0.04 4.86 3.57 0.07
RO and 213.22 213.62 0.40 592 180 0.02 5.37 9.80 0.10
RO RO-24-034 224.23 224.73 0.50 1,085 373 0.05 12.20 13.95 0.26
SC RO-24-035 159.95 160.45 0.50 156 132 0.05 0.72 0.04 0.02
SC RO-24-036 112.43 113.09 0.66 722 678 0.15 0.60 0.59 0.12
SC RO-24-036 136.46 136.96 0.50 284 251 0.08 0.64 0.34 0.02
HISTORICAL RESULTS
SC ILP-14M-15-02 115.45 116.85 1.40 361 249 0.05 2.83 1.19 0.01
(1) All results in this release are rounded. Assays are uncut and undiluted. Widths are core -lengths, not true
widths. Silver equivalent: Ag.Eq g/t was calculated using commodity prices of US$22.50 /oz Ag, US$1,800 /oz
Au, US$0.94 /lb Pb, and US$1.35 /lb Zn ap plying metallurgical recoveries of 70.1% for silver and 82.8% for
gold in oxides and 79.6% for silver, 80.1% for gold, 74.7% for lead and 58.8% for zinc in sulphides. Metal
payable used was 99.6% for silver and 95% for gold in doré produced from oxides , and 95% for silver, gold,
and lead and 85% for zinc in concentrates produced from sulphides. Cut-off grades considered for oxide and
sulphide were, respectively 140 g/t Ag .Eq and 125 g/t Ag.Eq and are based on 2017 costs adjusted by the
inflation rate and include sustaining costs.
Sample Analysis and QA/QC Program
Silver Storm uses a quality assurance/quality control (QA/QC) program that monitors the chain of
custody of samples and includes the insertion of blanks, duplicates, and reference standards in each
batch of samples sent for analysis. The drill core is photographed, logged, and cut in half , with one
half retained in a secured location for verification purposes and one half shipped for analysis. Sample
preparation (crushing and pulverizing) is performed at ALS Geochemistry, an independent ISO
9001:2001 certified laboratory, in Zacatecas, Mexico and pulps are sent to ALS Geochemistry in
Vancouver, Canada for analysis. The entire sample is crushed to 70% passing -2 mm, and a riffle split
of 250 grams is taken and pulverized to better than 85% passing 75 microns. Samples are analyzed
for gold using a standard fire assay with Atomic Absorption Spectrometry (AAS) (Au-AA23) from a 30-
gram pulp. Gold assays greater than 10 g /t are re-analyzed on a 30 -gram pulp by fire assay with a
gravimetric finish (Au -GRA21). Samples are also analyzed using a 34 element inductively coupled
plasma (ICP) method with atomic emission spectroscopy (AES) on a pulp digested by four acids (ME-
ICP61). Overlimit sample values for silver (>100 g/t), lead (>1%), zinc (>1%), and copper (>1%) are
re-assayed using a four-acid digestion overlimit method with ICP-AES (ME-OG62). For silver values
greater than 1,500 g/t, samples are re-assayed using a fire assay with gravimetric finish on a 30-gram
pulp (Ag-GRA21). Samples with lead values over 20% are re -assayed using volumetric titration with
EDTA on a 1-gram pulp (Pb-VOL70). No QA/QC issues were noted with the results reported herein.
Review by Qualified Person and QA/QC
The scientific and technical information in this document has been reviewed and approved by Bruce
Robbins, P.Geo., a Qualified Person as defined by National Instrument 43-101.
About Silver Storm Mining Ltd.
Silver Storm Mining Ltd. holds advanced-stage silver projects located in Durango, Mexico. In August
2023 Silver Storm completed the acquisition of 100% of the La Parrilla Silver Mine Complex, a prolific
operation which is comprised of a 2,000 tpd mill as well as five underground mines and an open pit
that collectively produced 34.3 million silver -equivalent ounces betwee n 2005 and 2019. The
Company also holds a 100% interest in the San Diego Project , which is among the largest
undeveloped silver assets in Mexico. For more information regarding the Company and its projects,
please visit our website at www.silverstorm.ca.
For additional information, please contact:
Greg McKenzie, President & CEO
Ph: +1 (416) 504-2024
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the
TSXV) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward Looking Statements:
Certain statements in this news release are forward -looking and involve a number of risks and
uncertainties. Such forward-looking statements are within the meaning of the phrase ‘forward-looking
information’ in the Canadian Securities Administrators’ National Instrument 51 -102 – Continuous
Disclosure Obligations. Forward -looking statements are not comprised of historical facts. Forward -
looking statements include estimates and statements that describe the Company’s future plans,
objectives or goals, including words to the effect that the Company or management and Qualified
Persons (in the case of technical and scientific information) expects a stated condition or result to
occur. Forward -looking statements may be identified by such terms as “believes”, “anticipates”,
“expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are
based on assumptions and address future events and conditions, by their very nature they involve
inherent risks and uncertainties. Although these statements are based on information currently
available to the Company, the Com pany provides no assurance that actual results will meet
management’s expectations. Risks, uncertainties and other factors involved with forward -looking
information could cause actual events, results, performance, prospects and opportunities to differ
materially from those expressed or implied by such forward -looking information. Forward -looking
information in this news release includes, but is not limited to, the future exploration performance at
La Parrilla, the timing and extent of current and future drill programs, the ability to increase Mineral
Resources therein, and the ability to eventually place the La Parrilla Complex back into production.
In making the forward-looking statements included in this news release, the Company and Qualified
Persons (in the case of technical and scientific information) have applied several material
assumptions, including that the Company´s financial condition and development plans do not change
because of unforeseen events, that future metal prices and the demand and market outlook for metals
will remain stable or improve, management’s ability to execute its business strategy and no
unexpected or adverse regulatory changes with respect to La Parrilla. Forward -looking statements
and information are subject to various known and unknown risks and uncertainties, many of which are
beyond the ability of the Company to control or predict, that may cause the Company’s actual results,
performance or achievements to be materially different from those expressed or implied thereby, and
are developed based on assumptions about such risks, uncertainties and other factors set out herein,
including, but not limited to, there being no assurance that the Company’s current and future
exploration programs will grow the Mineral Resource base or upgrade Mineral Resource confidence,
the risk that the assumptions referred to above prove not to be valid or reliable, the risk that the
Company is unable to achieve its goal of placing La Parrilla back into production; market conditions
and volatility and global economic conditions including increased volatility and potentially negative
capital raising conditions resulting from the continued or escalation of the COVID -19 pandemic, risk
of delay and/or cessation in planned work or changes in the Compan y’s financial condition and
development plans; risks associated with the interpretation of data (including in respect of third party
mineralized material) regarding the geology, grade and continuity of mineral deposits, the uncertainty
of the geology, grad e and continuity of mineral deposits and the risk of unexpected variations in
Mineral Resources, grade and/or recovery rates; risks related to gold, silver and other commodity price
fluctuations; employee relations; relationships with and claims by local c ommunities and indigenous
populations; availability and increasing costs associated with mining inputs and labour, the speculative
nature of mineral exploration and development, including the risks of obtaining necessary licenses and
permits and the presen ce of laws and regulations that may impose restrictions on mining, including
the Mexican mining reforms; risks relating to environmental regulation and liability; the possibility that
results will not be consistent with the Company’s expectations.
Such forward-looking information represents managements and Qualified Persons (in the case of
technical and scientific information) best judgment based on information currently available. No
forward-looking statement can be guaranteed, and actual future re sults may vary materially.
Accordingly, readers are advised not to place undue reliance on forward -looking statements or
information.
Figure 2: Rosarios Zone Cross Section View to North of Key Results Holes RO-24-024 to 034 & Historical Holes