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Vancouver, British Columbia--(Newsfile Corp. - March 24, 2020) - Silver One Resources Inc. (TSXV: SVE) (OTCQB: SLVRF) (FSE: BRK1) - "Silver One" or the "Company") is providing a corporate and exploration update on its activities going forward into 2020-21. The Company has recently completed its drilling program at Candelaria and has undertaken an IP geophysical survey over targets to the northwest of the historic open pits. We have also initiated a surface mapping and soil geochemical survey on our newly acquired Phoenix Silver, very high-grade silver prospect in Arizona.
Silver One's President and CEO Greg Crowe commented, "With the steady advance of COVID19 and the associated uncertainty in the markets, Silver One management wishes to assure shareholders that the Company is well positioned to weather what we hope is a short lived event. With over Cdn$ 6 million in its treasury, the Company is prudently managing its exploration and other costs throughout 2020 and into 2021. In the coming weeks, we will report on results from our recently completed drill program at Candelaria, once all analytical results have been received and compiled. We will also be reporting on our Cherokee project results from exploration completed in 2019.
We are continuing with our surface exploration at our Phoenix Silver high-grade silver prospect in Arizona and are planning on releasing those results before the end of Q2. However, management is monitoring the ongoing situation and will continue to provide updates to our shareholders as events unfold. Management is also taking every precaution to ensure the safety and health of our employees."
With the various country wide travel bans and the cancelling of large group gatherings, the Company will be limiting its travel until such time as this situation abates. However, we will be continuing with our Investor Relations programs, with every effort made to keep our investors up to date and informed. We will be participating in the on-line European Gold Forum in mid-April and other web-based forums going forward.
Qualified Person
The technical content of this news release has been reviewed and approved by Greg Crowe, P. Geo, President and CEO of Silver One, and a Qualified Person as defined by National Instrument 43-101.
About Silver One
Silver One is focused on the exploration and development of quality silver projects. The Company holds an option to acquire a 100%-interest in its flagship project, the past-producing Candelaria Mine located in Nevada. Potential reprocessing of silver from the historic leach pads at Candelaria provides an opportunity for possible near-term production. Additional opportunities lie in previously identified high-grade silver intercepts down-dip and potentially increasing the substantive silver mineralization along-strike from the two past-producing open pits.