TORONTO, Dec. 19,
2024 /CNW/ - Silver Mountain Resources Inc.
("Silver Mountain" or the "Company") (TSXV: AGMR) (OTCQB: AGMRF) is
pleased to announce that it has received confirmation from
Peru's Ministry of Energy and
Mines that the Company's Reliquias Mine and Caudalosa Plant have
been officially classified as ongoing mining operations. This
significant designation represents the final governmental approval
required for the Company to restart production and processing
operations.
CEO Alvaro Espinoza shared, "Our
dedicated permitting and legal teams have worked tirelessly to
ensure our commitment to revitalizing the Reliquias Mine. This
recognition not only marks a pivotal moment for Silver Mountain but
also underscores our contribution towards boosting the local
economy. With the Reliquias Mine and Caudalosa Plant now recognized
as active sites, we maintain our existing environmental permits,
allowing us to recommence operations without further governmental
approvals."
Key Highlights:
Ongoing Operations Status: The Ministry's confirmation
validates the Company's efforts in demonstrating the operational
history and readiness of the Reliquias-Caudalosa mining complex,
following our proactive stance during a period of production
suspension due to low metal prices.
Environmental Compliance: All existing permits from
previous operations remain fully enforceable, enabling the Company
to operate under the original mine footprint without the need for
additional environmental clearances.
Local Economic Impact: Our commitment to the community is
unwavering; a future decision to restart operations is anticipated
to revitalize the local economy and create job opportunities.
About Silver Mountain
Silver Mountain Resources Inc. is a silver explorer and mine
developer planning to restart production at the Reliquias
underground mine and undertake exploration activities at its
prospective silver camps at the Castrovirreyna Project in
Huancavelica, Peru.
The current technical report, titled "NI 43-101 Technical
Report: Preliminary Economic Assessment, Reliquias Mine",
Huancavelica- Peru, dated
June 26, 2024, effective date
May 15, 2024, is 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
Silver Mountain's subsidiary Sociedad Minera Reliquias S.A.C.
owns 100% of its concessions and holds more than 60,000 hectares in
the district of Castrovirreyna, Huancavelica, Peru.
www.agmr.ca
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in 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 August 14,
2023, 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.
