TORONTO, July 9, 2024
/CNW/ - Silver Mountain Resources Inc. ("Silver Mountain" or
"the Company") (TSXV: AGMR) (OTCQB: AGMRF) is pleased to announce
that Peru´s Ministry of Energy and Mines has approved the Reliquias
and Caudalosa Mine Closure Plans, a key milestone permit needed to
commence production in this historic mining district located in
central Peru.
Alvaro Espinoza, CEO of Silver
Mountain, remarked, "We welcome the approval of the Reliquias
and Caudalosa Mine Closure Plans. Our legal, technical, and
permitting team has done exceptional work preparing and presenting
a solid mine closure plan which fully complies with Peru´s rigorous
environmental standards. The Mine Closure Plans are some of the
final permits required to restart commercial production at the
Reliquias Mine and, coupled with the recently approved extension of
the environmental certification, brings us closer to our goal of
becoming Peru's next silver
producer. The Company continues to advance its work at the
Reliquias Mine at a time of high metal prices and improving market
sentiment towards silver producers."
The approval of the Mine Closure Plans includes authorizing the
disposal of waste material from the underground Reliquias Mine into
the historic Matacaballo open pit, simultaneously reducing the
project´s footprint and remediating historic environmental
liabilities.
On Behalf of the Board of Directors of Silver Mountain Resources
Inc.
Alvaro Espinoza, Chief Executive
Officer
About Silver Mountain
Silver Mountain Resources Inc. is a silver explorer and mine
developer planning to restart production at the Reliquias
underground mine and currently exploring its 100% owned
Castrovirreyna Project, consisting of over 60,000 hectares of
highly prospective mineral claims and concessions located in the
Huancavelica Region, central Peru.
For additional information regarding the Castrovirreyna Project,
please refer to the Company's technical report, titled NI 43-101
Technical Report: Preliminary Economic Assessment, Reliquias Mine,
dated June 26, 2024, effective date
May 15, 2024, available at
https://sedarplus.ca.
For further information about our drill program, including cross
sections of the main veins with drill hole locations, please refer
to our corporate presentation, available on our website at
www.agmr.ca.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward Looking Statements
This news release contains forward-looking statements and
forward-looking information within the meaning of Canadian
securities legislation (collectively, "forward-looking
statements") that relate to Silver Mountain's current
expectations and views of future events. Any statements that
express, or involve discussions as to, expectations, beliefs,
plans, objectives, assumptions or future events or performance
(often, but not always, through the use of words or phrases such as
"will likely result", "are expected to", "expects", "will
continue", "is anticipated", "anticipates", "believes",
"estimated", "intends", "plans", "forecast", "projection",
"strategy", "objective" and "outlook") are not historical facts and
may be forward-looking statements and may involve estimates,
assumptions and uncertainties which could cause actual results or
outcomes to differ materially from those expressed in such
forward-looking statements. No assurance can be given that these
expectations will prove to be correct and such forward-looking
statements included in this news release should not be unduly
relied upon. These statements speak only as of the date of this
news release.
Forward-looking statements are based on a number of assumptions
and are subject to a number of risks and uncertainties, many of
which are beyond Silver Mountain's control, which could cause
actual results and events to differ materially from those that are
disclosed in or implied by such forward-looking statements. Such
risks and uncertainties include, but are not limited to, the
factors set forth under "Caution Regarding Forward-Looking
Statements" and "Risk Factors" in the Company's Annual
Information Form dated April 26,
2026, and other disclosure documents available on the
Company's profile on SEDAR+ at www.sedarplus.ca. Silver Mountain
undertakes no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as may be required by law. New factors emerge
from time to time, and it is not possible for Silver Mountain to
predict all of them or assess the impact of each such factor or the
extent to which any factor, or combination of factors, may cause
results to differ materially from those contained in any
forward-looking statement. Any forward-looking statements contained
in this news release are expressly qualified in their entirety by
this cautionary statement.
SOURCE Silver Mountain Resources Inc.
