Silver Storm Files Ni 43-101 Technical Report FOR the LA Parrilla Silver MINE Complex, Durango State, Mexico
NEWS RELEASE
SILVER STORM FILES NI 43-101 TECHNICAL REPORT
FOR THE LA PARRILLA SILVER MINE COMPLEX, DURANGO STATE, MEXICO
Toronto, Ontario, March 24, 2025: Silver Storm Mining Ltd. (“ Silver Storm ” or the " Company")
(TSX.V: SVRS | OTC: SVRSF | FSE: SVR), is pleased to announce that it has filed an independent
National Instrument 43 -101 Standards of Disclosure for Mineral Projects (“NI 43 -101”) Technical
Report titled “ Independent Technical Report for the La Parrilla Silver Mine, Durango State, Mexico ”
with an effective date of December 31, 2024 (the “Technical Report”). The Technical Report updates
the Mineral Resource estimate at the Company’s 100% owned La Parrilla Silver Mine Complex,
located in Durango Mexico.
The Technical Report was prepared by SRK Consulting (Canada) Inc. and can be found for review
under the Company's profile on SEDAR+ ( www.sedarplus.ca) and on the Company's website
(www.silverstorm.ca).
A summary of the Technical Report was detailed in a news release dated February 11, 2025 entitled
"Silver Storm Announces 107% Increase in Indicated Mineral Resources at La Parrilla."
Highlights of the Updated Mineral Resource Estimate include:
• 107% increase in Indicated Mineral Resources, from 5.2 Moz Ag.Eq in the 2023 Mineral
Resource Statement to 10.8 Moz Ag.Eq1
• 58% increase of Inferred Mineral Resources, from 10.3 Moz Ag.Eq in the 2023 Mineral
Resource Statement to 16.3 Moz Ag.Eq
• Approximately 90% of the Indicated and 85% of the Inferred Mineral Resource tonnage is
sulphide mineralization; 10% of the Indicated and 15% of the Inferred Mineral Resource
tonnage is oxide mineralization
• Silver dominant: 66% of the Indicated and 69% of the Inferred Updated Mineral Resource
gross metal value is derived from silver
• 23 additional mineralized structures have been modelled, including several that were
previously mined by the former operator, with significant upside potential
• Total all-in exploration cost of US$0.22/oz Ag.Eq discovered
(1) Refer to the Technical Report and the Mineral Resource Statement contained within, along with the accompanying notes for the underlying
assumptions used in the Mineral Resource estimate.
Qualified Person
The Independent Qualified Person for the Mineral Resource Estimate disclosure is Dr. David
Machuca-Mory, PEng, of SRK Consulting (Canada) Inc., who has reviewed and approved the contents
of this release. In accordance with NI 43-101 Standards of Disclosure for Mineral Projects, Mr. Bruce
Robbins, PGeo, is the Qualified Person for the Company and has validated and approved the technical
and scientific content of this news release.
Shares for Debt Settlement
The Company also announces that it has entered into a debt settlement letter agreement with a drilling
service provider (the “Creditor”) to settle the Company’s outstanding debt for past services performed
by the Creditor in the amount of $578,200 (the “ Debt”) by issuing 4,818,333 common shares in the
capital of the Company (the “Common Shares”) at a deemed price of $0.12 per Common Share (the
“Shares-for-Debt Transaction”). The Board of Directors has determined that it is in the best interests
of the Company to settle the outstanding Debt to the Creditor through the issuance of Common Shares
in order to preserve the Company’s cash for ongoing operations.
Closing of the Shares -for-Debt Transaction is subject to customary closing conditions, including the
approval of the TSX Venture Exchange.
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 w ell as five underground mines and an open pit
that collectively produced 34.3 million silver -equivalent ounces between 2005 and 2019. The
Company also holds a 100% interest in the San Diego Project, which is among the largest
undeveloped silver assets in M exico. 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’ Natio nal 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, includin g 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”, “antic ipates”,
“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 th ese statements are based on information currently
available to the Company, the Company provides no assurance that actual results will meet
management’s expectations. Risks, uncertainties and other factors involved with forward -looking
information could ca use 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 estimated Mineral Resources of La
Parrilla and the future exploration performance, and completion of the Shares-for-Debt Transaction.
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, b ut 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 reli able, the risk that the
Company is unable to achieve its goal of placing La Parrilla back into production; the ability of the
Company to receive regulatory approvals for the completion of the Shares -for-Debt Transaction;
market conditions and volatility an d 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 Company’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, grade an d 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 commu nities
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 presence 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.