TORONTO, November 27, 2024--(BUSINESS WIRE)--Silver Storm Mining Ltd. ("Silver Storm" or the "Company") (TSX.V: SVRS | OTC: SVRSF | FSE: SVR) is pleased to announce that trading of its common shares will resume on the TSX Venture Exchange ("TSXV") at the opening of the market on Thursday, November 28, 2024. This follows the successful resolution of the cease trade order issued by the British Columbia Securities Commission ("BCSC") on October 15, 2024 and revoked by the BCSC on November 8, 2024.
The Company acknowledges and appreciates the patience of its shareholders and stakeholders during this process and reaffirms its commitment to adhering to high standards of compliance and corporate governance.
Project Update – La Parrilla
The underground diamond drill program at the Company’s 100% owned La Parrilla Silver Complex was completed in October 2024. A total of 18,682 metres ("m") was drilled during Phase 1 & 2, with 12,265 m reported to-date. Upon completion of the QA/QC as well as interpretation, the additional 6,417 m will be reported over the coming weeks.
The Company has engaged SRK Canada Inc. to prepare a Mineral Resource Update for the project, with completion targeted in January 2025. The favourable drill results from Phase 1 & 2 diamond drilling are expected to have a positive impact on the Mineral Resource Update.
Greg McKenzie, President and CEO, commented: "The successful results achieved from our first diamond drill program at La Parrilla have greatly enhanced our knowledge of the mineralization as well as controlling features and systems. Furthermore, the high-grade drill results clearly demonstrate that zones previously mined by First Majestic Silver continue down-plunge and along strike."
Annual Shareholders' Meeting Announcement
Silver Storm Mining Ltd. is also pleased to announce that its Annual Shareholders' Meeting will be held on January 24, 2025, at 10:00 a.m. EST. Shareholders of record as of December 23, 2024 will be entitled to vote at the meeting. Further details, including the meeting agenda and instructions for participation, will be provided in the Notice of Meeting and Management Information Circular to be sent to shareholders in due course.
Review by Qualified Person and QA/QC
The scientific and technical information in this document has been reviewed and approved by Bruce Robbins, P.Geo., a Qualified Person as defined by National Instrument 43-101.
About Silver Storm Mining Ltd.
Silver Storm Mining Ltd. holds advanced-stage silver projects located in Durango, Mexico. Silver Storm recently 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 well 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 Mexico. For more information regarding the Company and its projects, please visit our website at www.silverstorm.ca.
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.
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’ National 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, including 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", "anticipates", "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 these 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 cause 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, reinstatement to the TSX-V, the Company’s Annual Shareholder Meeting, the timing and completion of additional drill results, the timing and completion of the Mineral Resource Update, and expectations relating thereto.
In making the forward-looking statements included in this news release, the Company and Qualified Persons (in the case of technical and scientific information) has applied several material assumptions, including that the Company´s financial condition and development plans do not change because of unforeseen events. 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, but 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 reliable, the risk that the Company is unable to achieve its goal of placing La Parrilla back into production; market conditions and volatility and 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 employee relations; relationships with and claims by local communities 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; risks relating to completion of the annual audit in a timely manner.
Such forward-looking information represents best judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
