Venture; ZCTSF: OTC Markets; 7TV: Frankfurt) is pleased to announce the appointment of Mr. Eric Vanderleeuw as Chief Executive Officer and Director. Mr. Vanderleeuw brings extensive expertise in capital markets to the Company, having facilitated the
Zacatecas Silver Corp.
• Appoints Mr. Eric Vanderleeuw as Chief Executive Officer and Director
• Appoints Mr. Mario Vetro as Advisor
• Renewed focus on current silver project and follow-up on high-grade silver exploration results
outside of known resource
Vancouver, BC – January 20, 2024. Zacatecas Silver Corp. (“Zacatecas Silver” or the “Company”, ZAC:TSX
Venture; ZCTSF: OTC Markets; 7TV: Frankfurt) is pleased to announce the appointment of Mr. Eric
Vanderleeuw as Chief Executive Officer and Director.
Mr. Vanderleeuw brings extensive expertise in capital markets to the Company, having facilitated the
successful raising of over $100 million for venture initiatives throughout his consulting career. In addition
to his proficiency in marketing and investor relations, he has developed a robust network through his
involvement in business development within the mining sector. Before venturing into capital markets —
where he successfully collaborated with government entities, municipalities, and First Nations —Mr.
Vanderleeuw enjoyed a distinguished career in planning and land development with a leading planning
and engineering consulting firm.
Supporting Mr. Vanderleeuw in his leadership role, will be newly appointed Advisor Mr. Mario Vetro.
Mr. Vetro is a well-known investor and financier in the resource space and is CEO at Commodity Partners
based out of Vancouver, BC. He has extensive experience in structuring and advising resource companies
and has successfully raised hundreds of millions of dollars of resource development projects. Mr. Alastair
Brownlow, an associate at Redfern Consulting Ltd. will replace Mr. Jonathan Richards, also of Redfern
Consulting as Chief Financial Officer. Mr. Richards is also resigning as a director of the Company. Mr.
Brownlow is a Chartered Professional Accountant and a U.S. Certified Public Accountant (Washington)
who specializes in resource-focused accounting. Mr. Brownlow has accumulated extensive experience as
a CFO of TSX Venture Exchange listed mining companies.
Mr. Vanderleeuw states, “I am ho nored to take on the role of CEO at such an opportunistic time for the
company and industry. With a strengthening commodity market, our immediate operational focus will be
advancing the Zacatecas Silver Project. This high-potential asset which already holds an established
resource, offers significant exploration upside, which we will aim to expand through targeted drilling and
fieldwork in the near-term. Concurrently, we will refresh our corporate strategy, strengthen our presence
in capital markets, and explore strategic options for the advanced-stage Esperanza Gold Project.
Esperanza is a high-quality asset, and we will evaluate the best ways to unlock value for all stakeholders,
including assessing ongoing and new interest from other corporates.”
Zacatecas is formulating upcoming exploration plans at the Company’s Zacatecas Silver Project. The
Zacatecas Silver Project is located in Zacatecas state, Mexico, within the highly prospective Fresnillo silver
belt, which has produced over 6.2 billion ounces of silver.
This project has an established silver resource, providing an outstanding foundation, while also having
had multiple high grade silver intersections reported from drilling outside the boundaries of the known
resource area.
Eric stated, “It is a privilege to work alongside the exceptional team at Zacatecas. Together, we are
committed to revitalizing the company and driving growth and long-term value for all shareholders.”
Mr. Bryan Slusarchuk has resigned as Chief Executive Officer and Director, effective immediately, and will
join Mr. Vetro as an Advisor to the Company.
Drilling by the Company and previous operators have identified two significant vein systems that warrant
further exploration and drilling activities:
• Panuco Deposit. Significant drilling and trench work has been carried at the Panuco returning
high-grade silver results of 1.25m @ 1440 g/t Ag Eq (1423.2 g/t Ag and 0.23 g/t Au) (see news
release April 7, 2022) and 1.23m @750 g/t Ag Eq (723 g/t Ag and 0.36 g/t Au) (see news release
February 16, 2022). On May 30, 2023, the Company announced an increase in the mineral
resource estimate at Panuco resulting in 3.41 m illion tonnes at 187 g/t AgEq (173 g/t Ag and 0.18
g/t Au) for 20.5 million ounces AgEq (19.0 million ounces silver and 19.2 thousand ounces gold)
(see news release May 30, 2023). The vein system comprising the Panuco deposit remains open
in all directions.
• El Cristo Vein System. The El Cristo vein system is the northwest extension of the well-known
Veta Grande vein and is defined by multiple vein outcrops, and extensive historical workings and
shafts. The Company completed an initial 28 scout drill hole program whereby 22 out of the 28
holes interested silver-base metal mineralization. With a strike length over 3 km, numerous
targets remain to be drilled by the Company.
In addition to the two flagship deposits at Zacatecas, there are two additional high-priority targets that
may be pursued by the Company:
• San-Gill Breccia Zone. San Gill Breccia is located in the southern part of the main Zacatecas
concessions and is approximately 2 kilometres to the southwest of the Veta Grande vein. It is a
zone of intense brecciation and quartz veining with an abundant matrix of iron oxides after
sulphides.
• Muleros Zone. The Muleros vein system, which is located to the south of Panuco and to the
north of El Cristo, can be traded over a 3 km strike length. Three main veins are present in the
system – the south vein, north vein and the El Rosario vein.
In conjunction with the new appointments, the Company has also arranged a non-brokered private
placement financing of 15,000,000 common shares at a price of $0.05 per share for total proceeds of
$1,500,000 (the “Offering”). The securities under the Offering will be subject to restrictions on resale
expiring four months and day after issue. The Company may pay registered finders a fee in cash and/or
share purchase warrants. The Company intends to use the net proceeds to satisfy ongoing costs
associated with its properties as well as general working capital purposes.
The Company has also granted 3 million incentive stock options exercisable at $0.10 for a term of five
years, and 5 million restricted share units to incoming management and advisors, consultants, and
directors of the Company.
About Zacatecas Silver Corp.
The Company has two key projects. The Zacatecas Silver Project in Zacatecas State, Mexico and the
Esperanza Gold Project in Morelos State
The Zacatecas Silver Project is in Zacatecas state, Mexico, within the highly prospective Fresnillo silver
belt, which has produced over 6.2 billion ounces of silver. The Company holds 7,826 hectares (19,338
acres) of ground that is highly prospective for low-sulphidation and intermediate-sulphidation silver base
metal mineralization and potentially low-sulphidation gold-dominant mineralization. The Company
announced a Mineral Resource Estimate at the Panuco Deposit consisting of 2.7 million tonnes at 187
grams per tonne (g/t) silver equivalent (AgEq) (171 g/t silver (Ag) and 0.17 g/t gold (Au)) for 16.4 million
ounces AgEq (15 million ounces silver and 15,000 ounces gold) (see news release dated December 14,
2021).
Esperanza is an advanced stage gold project located in Morelos state, Mexico. The Company announced
a Mineral Resource Estimate at Esperanza consisting of a Measured and Indicated Mineral Resource
Estimate of 30.5 million tonnes at 0.97 g/t AuEq for 956 thousand ounces AuEq and an Inferred Mineral
Resource estimate of 8.7 million tonnes at 0.98 g/t AuEq for 277 thousand ounces AuEq (see news release
dated November 16, 2022).
On behalf of the Company
Eric Vandereeuw
Chief Executive Officer and Director
The securities referred to in this news release have not been, nor will they be, registered under the United
States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to,
or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the
U.S. registration requirements. This release does not constitute an offer for sale of, nor a solicitation for
offers to buy, any securities in the United States.
Qualified Person
The contents of this news release have been reviewed and approved by Chris Wilson, B.Sc. (Hons), PhD,
FAusIMM (CP), FSEG, FGS, Chief Operating Officer of Zacatecas Silver. Dr. Wilson is Qualified Persons as
defined by NI 43-101.
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. Zacatecas
cautions that all forward -looking statements are inherently uncertain and that actual performance may
be affected by many material factors, many of wh ich are beyond their respective control. Such factors
include, among other things: risks and uncertainties relating to Zacatecas’ limited operating history, its
proposed exploration and development activities on its Esperanza Gold Project and Zacatecas Silver
Project 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. There are currently no assurances
that the project will be economically viable nor assurances that necessary financing, permitting, and metal
prices will exist to enable development of the Company’s projects. Except as required under applicable
securities legislation, Zacatecas does not undertake 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 Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information: Adam Ross, Investor Relations, Direct: (604) 229 -9445, Toll Free: 1(833) 923 -
3334, Email: [email protected]