Silver Mountain Resources Files Amended Technical Report for Reliquias Mine in Peru
Silver Mountain Resources Inc. (AGMR) has announced the filing of an amended and restated preliminary economic assessment for its Reliquias Mine, located in central Peru. This updated report, dated October 28, 2024, with an effective date of May 15, 2024, comes as a result of a continuous disclosure review conducted by the Ontario Securities Commission. The company has also submitted a material change report providing information about its Chief Operating Officer, supplementing its annual information form for the year ending December 31, 2023.
The amended technical report, referred to as the “Amended Technical Report,” incorporates no changes to the substantial disclosures made in the previously filed technical report on June 26, 2024. Notably, this includes no modifications to the estimated mineral reserves and resources, the mine plan, cost estimates, or the economic analysis. The primary purpose of this amended report is to furnish additional details regarding the company’s ongoing exploration activities at the Reliquias Mine and the recently approved mine closure plan by the Peruvian Ministry of Energy and Mines.
The Amended Technical Report adheres to National Instrument 43-101 – Standards for Disclosure of Mineral Projects. It is readily accessible on SEDAR+ (www.sedarplus.ca) under the company’s profile and on Silver Mountain’s official website (www.agmr.ca).
About Silver Mountain Resources Inc.
Silver Mountain is a prominent silver explorer and mine developer with plans to restart production at the Reliquias underground mine. The company is also engaged in exploration activities at its promising silver camps within the Castrovirreyna Project in Huancavelica, Peru. For in-depth information about the Castrovirreyna Project, readers are encouraged to consult the company’s technical report titled “Amended and Restated NI 43-101 Technical Report: Preliminary Economic Assessment, Reliquias Mine.” This report, dated October 28, 2024, with an effective date of May 15, 2024, is accessible on SEDAR+ (www.sedarplus.ca).
To learn more about Silver Mountain’s drill program, including cross sections of the main veins with drill hole locations, visit the company’s corporate presentation available on its website (www.agmr.ca).
Silver Mountain’s subsidiary, Sociedad Minera Reliquias S.A.C., holds 100% ownership of the company’s concessions and manages over 60,000 hectares in the Castrovirreyna district of Huancavelica, Peru.
Forward-Looking Statements
This news release incorporates forward-looking statements and information within the meaning of Canadian securities legislation (collectively, “forward-looking statements”) that reflect Silver Mountain’s current expectations and perspectives on future events. Any statements that express or involve discussions regarding 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 constitute forward-looking statements. These statements may involve estimates, assumptions, and uncertainties that could lead to actual results or outcomes differing materially from those expressed in such forward-looking statements.
There can be no assurance that these expectations will materialize. The forward-looking statements in this news release should not be unduly relied upon. These statements only reflect the situation as of the date of this release. Forward-looking statements are based on a number of assumptions and are subject to a variety of risks and uncertainties, many of which are beyond Silver Mountain’s control. These factors could cause actual results and events to differ significantly from those disclosed or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, the factors outlined under “Caution Regarding Forward-Looking Statements” and “Risk Factors” in the company’s annual information form dated April 26, 2024, and other disclosure documents accessible on the company’s profile at www.sedarplus.ca. Silver Mountain assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.
New factors emerge from time to time, and it is not possible for Silver Mountain to anticipate all of them or evaluate the impact of each 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.
