SILVER VIPER MINERALS ANNOUNCES BINDING AGREEMENT TO ACQUIRE THE CONETO SILVER-GOLD PROJECT IN DURANGO, MEXICO Adam Cegielski added to Silver Viper Board
SILVER VIPER MINERALS ANNOUNCES
BINDING AGREEMENT TO ACQUIRE THE
CONETO SILVER-GOLD PROJECT IN
DURANGO, MEXICO
Adam Cegielski
added to Silver Viper Board
VANCOUVER, BC
,
Oct. 28, 2025
/CNW/ -
Silver Viper Minerals Corp.
("Silver Viper" or the
"Company") is pleased to announce that it has entered into a binding term sheet
dated
October 27,
2025
with
Fresnillo
plc ("Fresnillo") and Orex Minerals Inc. (TSX-V: REX) ("Orex", together with
Fresnillo
, the "Vendors") to acquire 100% ownership of the Coneto Silver-Gold Project ("Coneto" or
the "Coneto Project") located in
Durango, Mexico
(the "Acquisition").
Acquisition Summary
Silver Viper will acquire the Vendors' combined interests in Coneto — 61.21% held by
Fresnillo
and
38.79 % held by Orex — consisting of all of the outstanding shares of the corporate joint venture
which currently holds the Coneto Project, through an all-share transaction. Key transaction terms
are:
Valuation: The transaction values the Coneto Project at
US$15 million
(approximately
C$21
million
) (the "Purchase Price").
Consideration: common shares of Silver Viper (the "VIPR Shares"), at a deemed price of
C$0.80
per VIPR Share, to be issued to the Vendors as satisfaction of the Purchase Price (to
be converted to Canadian dollars on the closing date of the Acquisition using the Bank of
Canada USD-CAD exchange rate on such date).
Post-closing ownership: Fresnillo is expected to hold approximately 17% and Orex
approximately 11% of the issued and outstanding
VIPR
Shares on a non-diluted basis following
closing.
Investor Rights: On closing, Fresnillo and Silver Viper will enter into an investor rights
agreement, providing customary anti-dilution rights for
Fresnillo
.
Conditions: Completion of the Acquisition remains subject to certain customary conditions,
including satisfactory due diligence by each of the parties, receipt of all requisite shareholder (if
any) and regulatory approvals (including that of the TSX Venture Exchange) and no material
adverse effects impacting the parties prior to closing.
Finders fee: In connection with the acquisition, the Company will pay OJR Jet Management
Consultancies CO LLC SOC a finder's fee totaling up to 1,151,595 VIPR Shares, subject to
TSX Venture Exchange approval.
Closing date: The parties will work on closing the Acquisition expeditiously and no later than
January 2026
.
As per TSX Venture Exchange (the "TSXV") policies, the Acquisition constitutes a non-arm's length
transaction due to a shared director (
Steve Cope
). The transaction remains subject to TSXV
approval.
About the Coneto Silver-Gold Project
The Coneto Project is located approximately 100 kilometres north of Durango City, within the historic
Coneto Mining District, one of
Mexico's
oldest and most prolific silver-gold camps. The trend hosts
some of the world's largest and most historic silver deposits, including the
Fresnillo
mine (operated
by Fresnillo Plc), the
Guanajuato
and
Zacatecas
mining districts, and major development projects
such as La Preciosa (
Avino Silver
& Gold Mines Ltd.) and La Pitarrilla (Endeavour Silver Corp.).
The Coneto Project area covers 4,995 hectares of mineral concessions, historically held 55% by
Fresnillo Plc and 45% by Orex Minerals Inc. under an Association Agreement, with
Fresnillo
serving
as the project operator. The concessions collectively host over 40 known epithermal quartz veins
exhibiting silver-gold mineralization, some exceeding 20 metres wide and extending for over one
kilometre along strike.
The nearby town of
Coneto de Comonfort
offers skilled local labour, while the Coneto Project
benefits from excellent infrastructure, including paved road access, connection to the national power
grid, and proximity to major highways and services.
The Coneto district has seen over 400 years of mining activity, with both artisanal and modern
operations exploiting silver- and gold-bearing veins across multiple zones. Despite this long history,
the Coneto Project remains underexplored at depth, with historical drilling and underground workings
confirming high-grade zones and strong continuity beneath the water table. Silver Viper intends to
undertake a comprehensive exploration and drilling program targeting expansion of known systems
and deeper, high-potential horizons.
Addition to the Silver Viper Board
Silver Viper also announces that, effective immediately,
Taj Singh
has resigned as Chairman of the
Board but will remain a Director.
In addition,
Adam Cegielski
has been appointed as a director and Chairman of the Silver Viper board
of the directors (the "Board"). Mr. Cegielski brings extensive capital-markets and public-company
leadership experience, including founding Director and President of First Nordic Metals, founding
Director of Cayden Resources which was sold to Agnico Eagle for
C$205million
, and CEO &
Director of Binovi Technologies Corp.
In addition, at or prior to closing,
Ruben Alvidrez
, Director of Projects and Board Member at Luca
Mining Corp., will also be appointed to the Board of Directors. Mr. Alvidrez brings extensive
leadership and operational experience in the mining and financial sectors. Prior to joining the mining
industry, Mr. Alvidrez spent over 26 years with Citigroup, serving as Senior Vice President of
Corporate Operations for
Mexico
and
Latin America
. His background combines deep expertise in
corporate governance, operations management, and strategic finance.
Management Commentary
"The acquisition of Coneto is a pivotal step in Silver Viper's growth strategy," said
Steve Cope
, Silver
Viper's President & Chief Executive Officer. "Coneto's district-scale footprint, excellent infrastructure,
and extensive vein architecture complement our La Virginia Project and create multiple avenues for
discovery. With Adam's strategic leadership as Chairman to guide us to a smooth closing and
Ruben's on-the-ground perspective adding to our expertise on the Board when joins, we are well
positioned to advance Coneto quickly and responsibly following closing."
About Silver Viper Minerals
Silver Viper Minerals Corp. (TSX.V: VIPR, OTCQB: VIPRF) is a Canadian-based junior mineral
exploration company focused on advancing precious metals projects in
Mexico
. The Company
currently operates two key assets: its flagship La Virginia Gold-Silver Project in
Sonora
and the
recently acquired Cimarron Gold-Copper Project in
Sinaloa
. The addition of the Coneto Project
enhances Silver Viper's portfolio with another district-scale opportunity in the heart of
Mexico's
silver
belt.
ON BEHALF OF THE BOARD OF DIRECTORS
Steve Cope
President and CEO
Qualified Person
Ben Whiting M.Sc.
, P.Geo., Vice President Exploration of Silver Viper Minerals Corp., is the
Qualified Person as defined in National Instrument 43-101 and has reviewed and approved the
technical information contained in this release.
Follow Silver Viper Minerals:
X: @SilverViperCorp
LinkedIn: Silver Viper Minerals Corp.
Facebook: Silver Viper Minerals
YouTube: @SilverViperMinerals
Forward Looking Information
This news release may contain forward-looking statements, including statements with respect to the
terms of the Acquisition, closing of the Acquisition, including receipt of all necessary approvals and
timing thereof, the advancement and development of the Coneto Project and related exploration
thereof and the appointment of Mr. Alvirez to the Board. These statements reflect management's
current estimates, beliefs, intentions and expectations; they are not guarantees of future
performance. Forward-looking statements address future events and conditions and therefore
involve inherent risks and uncertainties. Such factors include, among other things: risks and
uncertainties relating to exploration and development, the ability of the Company to obtain additional
financing, the need to comply with environmental and governmental regulations, fluctuations in the
prices of commodities, operating hazards and risks, competition and other risks and uncertainties,
including those described in the Company's financial statements, management discussion and
analysis and/or annual information form available on
www.sedarplus.ca
. The risk factors identified in
such documents are not intended to represent a complete list of factors that could affect the
Company. Actual results may differ materially from those currently anticipated in such statements
and the Company undertakes no obligation to update such statements, except as required by law.
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.
SOURCE
Silver Viper Minerals Corp.
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For further information:
For more information, please visit www.silverviperminerals.com or
contact: Alicia Ford, Corporate Development, Phone: 604-687-8566, Email:
CO: Silver Viper Minerals Corp.
CNW 13:50e 28-OCT-25