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VANCOUVER, BC, May 8, 2025 /CNW/ - Silver Viper Minerals Corp. ("Silver Viper" or the "Company") (TSXV: VIPR) (OTC: VIPRF) has entered into an agreement with CSAC Holdings Inc. ("CSAC") and all of the shareholders of CSAC (collectively, the "Vendors") dated May 8, 2025 (the "Purchase Agreement") to acquire the Cimarron Project in Sinaloa, Mexico, a property hosting a porphyry gold-copper system (the "Transaction").
"This acquisition supports our strategy to build scale through the addition of high-quality gold, silver and copper assets in Mexico," said Steve Cope, President and CEO of Silver Viper. "Cimarron has benefited from extensive historical drilling and is ready for the next stage of infill and step-out work."
Transaction Summary
Pursuant to the terms of the Purchase Agreement, Silver Viper has agreed to acquire all of the outstanding common shares of CSAC from the Vendors in exchange for 9,000,000 common shares of Silver Viper. Closing remains subject to satisfaction of a number of conditions, including but not limited to, the receipt of the requisite TSX Venture Exchange approval of the Transaction and completion of satisfactory due diligence by Silver Viper of CSAC and the Cimarron Project, as well as other conditions customary for a transaction of this nature. Closing is expected to occur as promptly as possible following satisfaction of the closing conditions set out in the Purchase Agreement.
Highlights of the Cimarron Project
The Cimarron Project is located on the prolific porphyry belt from Arizona to Jalisco and is situated in the well-established mining jurisdiction of Mexico. The Cimarron Project lies between Mazatlán and Rosario in Sinaloa and is accessible via an 11-kilometre dirt road from a nearby paved road. The area is relatively flat, with low topographic contrast, supporting ease of access. An electrical line passes one kilometre south of the property. The nearby towns of Rosario—a historic mining community—and Mazatlán provide access to skilled local labour.
Having considered some of the historical exploration undertaken on the Cimarron Project, Silver Viper believes that the Cimarron Project has potential for growth by focusing on three parts of the mineralized system, being Calerita, Lobo and Huanacaxtle. Most target areas of the Cimarron Project remain underexplored, and Silver Viper believes that trenching may offer an efficient, low-cost approach to generate additional drill targets, particularly in areas of soil anomalies. Further updates will be provided on activities to be undertaken at the Cimarron Project by Silver Viper following closing of the Transaction.