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Highlander Silver Announces Acquisition of the Bonanza Grade San Luis Epithermal Gold-Silver Project in Peru, With Historical Measured & Indicated Resources of 348,000 Ounces Grading 22.4 g/t Gold, and 9,003,300 Ounces Grading 578 g/t Silver

In This Article:

VANCOUVER, BC / ACCESSWIRE / May 23, 2024 / Highlander Silver Corp. (CSE:HSLV) (the "Company" or "Highlander Silver") is pleased to announce that, further to its news releases dated November 30, 2023 and March 28, 2024, it has acquired the San Luis gold-silver project (the "San Luis Project") from SSR Mining Inc. ("SSR Mining"), pursuant to a share purchase agreement dated November 29, 2023 (as amended, the "Share Purchase Agreement"). The San Luis Project is located in the Ancash Department of central Peru.

Highlights

  • Transformational acquisition for Highlander Silver of the San Luis Project.

  • Historical Measured & Indicated mineral resources of 348,000 ounces (oz) of gold (Au) grading 22.4 g/t Au, and 9,003,300 oz silver (Ag) grading 578.1 g/t Ag.

  • Multiple targets for growth on the property given limited and focused historical drilling, open extensions to resources, and undrilled targets supported by highly anomalous (> 4 g/t Au) trenching and rock samples.

  • Extensive ground holding totalling 23,098 Ha has yet to be systematically explored with many structures that have not yet been sampled providing further exploration potential.

  • Highlander Silver to implement a comprehensive program of geological mapping and sampling to develop targets for growth and discovery before more focused exploration on the highest priority targets.

  • Ancash Department is well-known for mining in Peru with major past and present production from the Pierina gold mine and Antamina copper-zinc mine, respectively.

  • Financing for this transformative acquisition has been provided by the Augusta Group, members of the Lundin family and affiliates, and Eric Sprott.

(See "San Luis Historical Mineral Resource" below for further details.)

A qualified person has not done sufficient work to classify the historical estimate as a current mineral resource and the Company is not treating the historical estimate as a current mineral resource.

David Fincham, President and CEO commented: "We are thrilled to have acquired the high grade San Luis gold-silver project from SSR mining. I would like to thank our shareholders for their support and the SSR Mining team for their careful stewardship of the project to date.

We believe that the historical resource at the Ayelen - Ines vein system may be one of the highest-grade gold-silver deposits yet to be mined in the world, and we are very excited about the exploration potential given this district-scale property has only been partially prospected and explored. As such the acquisition has the potential to be transformative for Highlander Silver in delivering a world-class gold silver project that can benefit all our stakeholders."