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Cision Canada
2 days ago
- Business
- Cision Canada
Minsud Announces Private Placement; Appoints New VP Exploration
TSX-V: MSR TORONTO, June 4, 2025 /CNW/ - Minsud Resources Corp. (TSXV: MSR) (" Minsud" or the " Company") is pleased to announce the appointment of Dr. Renato Bobis as part-time Vice President, Exploration, following the resignation of María del Carmen Muñoz. The Company expresses its sincere gratitude to Ms. Muñoz for her dedication, leadership, and technical contributions during her tenure as Vice President, Exploration. Her work has been instrumental in advancing Minsud's exploration portfolio, and we wish her continued success in her future endeavors. Dr. Renato Bobis is an accomplished economic geologist with over 40 years of international expertise in mineral exploration and development in both South America and Asia-Pacific regions. Most recently, he was the senior manager generative and resource evaluation with South32 and formerly with BHP, Sinogold, Golden China, Newcrest, Arc Exploration, Placer Dome, Laverton Gold, Yamana and Renison Goldfields. Dr. Bobis focuses on finding orebodies in a spectrum of environments (particularly porphyry-epithermal-skarn-breccia-hosted deposits) from country-wide to camp-scale exploration and development. He has led several base and precious metals discoveries. Dr. Bobis is a Competent/Qualified Person (CP/QP) for reporting purposes under both the Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects and the Australian Joint Ore Reserve Committee standards. Ramiro Massa, Director of Minsud, stated: " Dr. Bobis played a pivotal role in identifying and advancing the Chinchillones porphyry Cu-Au-Mo-Zn-Pb deposit in the Chita Valley Project. He also led the design and implementation of the successful scout and resource drilling programs, establishing a resource base exceeding 760 million tonnes of potentially mineable polymetallic epithermal-porphyry copper mineralization. We are pleased to welcome someone of Dr. Bobis's caliber to the team. His global experience and deep technical expertise will be invaluable as we advance our Chita Valley Project." Minsud is also pleased to announce that it intends to complete, subject to the acceptance of the TSX Venture Exchange (the " TSXV"), a non-brokered private placement of common shares of the Company (" Common Shares") for gross proceeds of up to $830,000 (the " Private Placement") at a price of $0.74 per Common Share. The net proceeds will be used to continue exploring the Chita Valley Project as well as working capital and corporate overhead requirements. No commission or finder's fee will be paid in connection with the Private Placement. The Common Shares will be subject to a hold period of four months and a day from their date of issuance. A portion of the Common Shares issued under the Private Placement are expected to be subscribed for by insiders of the Company. Any such subscription will be considered to be a related party transaction within the meaning of TSX-V Policy 5.9 which incorporates Multilateral Instrument 61-101 (" MI 61-101"). The Company intends to rely on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(a) of MI 61-101 in respect of such insider participation. The securities being offered have not been, nor will they be, registered under the United States Securities Act and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This news release will not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful. About Minsud Resources Corp. Minsud is a mineral exploration company focused on exploring its flagship Chita Valley Cu-Mo-Au-Ag-Pb-Zn Project, in the Province of San Juan, Argentina. The Company's shares are listed on the TSX-V under the trading symbol "MSR", and on the OTCQX under the symbol "MDSQF". CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain information that may constitute forward-looking information under applicable Canadian securities laws. Forward-looking information includes, but is not limited to, strategic plans, spending commitments, future operations, future work programs, and statements regarding the Private Placement, including the completion and terms thereof, use of proceeds, and TSXV approval. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information including, but not limited to: changes in national and local government, legislation, taxation, controls, regulations and political or economic developments in Canada and Argentina or other countries in which the Company may carry on business in the future; operating or technical difficulties in connection with exploration and development activities; fluctuations in the currency markets (such as the Canadian dollar, Argentina peso, and the U.S. dollar); risks and hazards associated with the business of mineral exploration and development (including environmental hazards or industrial accidents); risks relating to the credit worthiness or financial condition of suppliers and other parties with whom the Company does business; presence of laws and regulations that may impose restrictions on mining, including those currently enacted in Argentina; employee relations; relationships with and claims by local communities; availability and increasing costs associated with operational inputs and labour; the speculative nature of mineral exploration and development, including the risks of obtaining necessary licenses, permits and approvals from government authorities; business opportunities that may be presented to, or pursued by, the Company; challenges to, or difficulty in maintaining, the Company's title to properties; risks relating to the Company's ability to raise funds; fluctuations in commodity prices and the factors identified in the Company's continuous disclosure documents filed on SEDAR+. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking-information contained in this news release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law. Neither the 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. SOURCE Minsud Resources Corp.
Yahoo
2 days ago
- Business
- Yahoo
Minsud Announces Private Placement; Appoints New VP Exploration
/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./ TSX-V: MSR TORONTO, June 4, 2025 /CNW/ - Minsud Resources Corp. (TSXV: MSR) ("Minsud" or the "Company") is pleased to announce the appointment of Dr. Renato Bobis as part-time Vice President, Exploration, following the resignation of María del Carmen Muñoz. The Company expresses its sincere gratitude to Ms. Muñoz for her dedication, leadership, and technical contributions during her tenure as Vice President, Exploration. Her work has been instrumental in advancing Minsud's exploration portfolio, and we wish her continued success in her future endeavors. Dr. Renato Bobis is an accomplished economic geologist with over 40 years of international expertise in mineral exploration and development in both South America and Asia-Pacific regions. Most recently, he was the senior manager generative and resource evaluation with South32 and formerly with BHP, Sinogold, Golden China, Newcrest, Arc Exploration, Placer Dome, Laverton Gold, Yamana and Renison Goldfields. Dr. Bobis focuses on finding orebodies in a spectrum of environments (particularly porphyry-epithermal-skarn-breccia-hosted deposits) from country-wide to camp-scale exploration and development. He has led several base and precious metals discoveries. Dr. Bobis is a Competent/Qualified Person (CP/QP) for reporting purposes under both the Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects and the Australian Joint Ore Reserve Committee standards. Ramiro Massa, Director of Minsud, stated: "Dr. Bobis played a pivotal role in identifying and advancing the Chinchillones porphyry Cu-Au-Mo-Zn-Pb deposit in the Chita Valley Project. He also led the design and implementation of the successful scout and resource drilling programs, establishing a resource base exceeding 760 million tonnes of potentially mineable polymetallic epithermal-porphyry copper mineralization. We are pleased to welcome someone of Dr. Bobis's caliber to the team. His global experience and deep technical expertise will be invaluable as we advance our Chita Valley Project." Private Placement Minsud is also pleased to announce that it intends to complete, subject to the acceptance of the TSX Venture Exchange (the "TSXV"), a non-brokered private placement of common shares of the Company ("Common Shares") for gross proceeds of up to $830,000 (the "Private Placement") at a price of $0.74 per Common Share. The net proceeds will be used to continue exploring the Chita Valley Project as well as working capital and corporate overhead requirements. No commission or finder's fee will be paid in connection with the Private Placement. The Common Shares will be subject to a hold period of four months and a day from their date of issuance. A portion of the Common Shares issued under the Private Placement are expected to be subscribed for by insiders of the Company. Any such subscription will be considered to be a related party transaction within the meaning of TSX-V Policy 5.9 which incorporates Multilateral Instrument 61-101 ("MI 61-101"). The Company intends to rely on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(a) of MI 61-101 in respect of such insider participation. The securities being offered have not been, nor will they be, registered under the United States Securities Act and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This news release will not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful. About Minsud Resources Corp. Minsud is a mineral exploration company focused on exploring its flagship Chita Valley Cu-Mo-Au-Ag-Pb-Zn Project, in the Province of San Juan, Argentina. The Company's shares are listed on the TSX-V under the trading symbol "MSR", and on the OTCQX under the symbol "MDSQF". CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain information that may constitute forward-looking information under applicable Canadian securities laws. Forward-looking information includes, but is not limited to, strategic plans, spending commitments, future operations, future work programs, and statements regarding the Private Placement, including the completion and terms thereof, use of proceeds, and TSXV approval. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information including, but not limited to: changes in national and local government, legislation, taxation, controls, regulations and political or economic developments in Canada and Argentina or other countries in which the Company may carry on business in the future; operating or technical difficulties in connection with exploration and development activities; fluctuations in the currency markets (such as the Canadian dollar, Argentina peso, and the U.S. dollar); risks and hazards associated with the business of mineral exploration and development (including environmental hazards or industrial accidents); risks relating to the credit worthiness or financial condition of suppliers and other parties with whom the Company does business; presence of laws and regulations that may impose restrictions on mining, including those currently enacted in Argentina; employee relations; relationships with and claims by local communities; availability and increasing costs associated with operational inputs and labour; the speculative nature of mineral exploration and development, including the risks of obtaining necessary licenses, permits and approvals from government authorities; business opportunities that may be presented to, or pursued by, the Company; challenges to, or difficulty in maintaining, the Company's title to properties; risks relating to the Company's ability to raise funds; fluctuations in commodity prices and the factors identified in the Company's continuous disclosure documents filed on SEDAR+. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking-information contained in this news release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law. Neither the 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. SOURCE Minsud Resources Corp. View original content: Sign in to access your portfolio
Hamilton Spectator
20-05-2025
- Business
- Hamilton Spectator
Amaroq Files Technical Report for its Nalunaq Property
Reykjavík, May 20, 2025 (GLOBE NEWSWIRE) — ('Amaroq' or the 'Company') Amaroq Files Technical Report for its Nalunaq Property TORONTO, ONTARIO – May 20, 2025 – Amaroq Minerals Ltd. (AIM, TSXV, NASDAQ Iceland: AMRQ), an independent mining company with a substantial land package of gold and strategic mineral assets in Southern Greenland, is pleased to announce that it has filed on SEDAR+ an independent technical report in respect of its Nalunaq property. The independent technical report in respect of the Nalunaq property entitled 'Technical Report on the Updated Mineral Resource Estimate (MRE4) of the Nalunaq Gold Mine, Greenland' is dated May 19, 2025, with an effective date of May 12, 2025, was prepared by or under the supervision of James McFarlane, BSc (Hons), MSc, MCSM, CGeol FGS, FNEIMME, CEng QMR FIMMM, RPGeo MAIG, FIQ of Bara Consulting (UK) Ltd., and supports the disclosure made by the Company in its news release dated March 28, 2025. The technical report has been filed in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects . A copy of the technical report is available under the Company's issuer profile on SEDAR+ ( ). Enquiries: Amaroq Minerals Ltd. Eldur Olafsson, Executive Director and CEO eo@ Ed Westropp, Head of Business Development and Corporate Affairs ewe@ Eddie Wyvill, Corporate Development +44 (0)7713 126727 ew@ Panmure Liberum Limited (Nominated Adviser and Corporate Broker) Scott Mathieson Nikhil Varghese +44 (0) 20 7886 2500 Canaccord Genuity Limited (Corporate Broker) James Asensio Harry Rees Tel: +44 (0) 20 7523 8000 Camarco (Financial PR) Billy Clegg Elfie Kent Fergus Young +44 (0) 20 3757 4980 For Company updates: Follow @Amaroq_Minerals on X (Formerly known as Twitter) Follow Amaroq Minerals Ltd. on LinkedIn Further Information: About Amaroq Minerals Amaroq's principal business objectives are the identification, acquisition, exploration, and development of gold and strategic metal properties in South Greenland. The Company's principal asset is a 100% interest in the Nalunaq Gold mine. The Company has a portfolio of gold and strategic metal assets in Southern Greenland covering the two known gold belts in the region as well as advanced exploration projects at Stendalen and the Sava Copper Belt exploring for Strategic metals such as Copper, Nickel, Rare Earths and other minerals. Amaroq Minerals is continued under the Business Corporations Act (Ontario) and wholly owns Nalunaq A/S, incorporated under the Greenland Companies Act. 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. Inside Information This announcement does not contain inside information.
Yahoo
20-05-2025
- Business
- Yahoo
Mistango Expands Omega Gold Property by 60%
Highlights: Omega hosts a global resource of 585 Koz of gold. Omega now comprises 15 leased claims and 10 patents. Property size increased from 257 hectares to 400 hectares. Strategic Growth Asset in a world-class District Close to MAG Silver, Agnico Eagle and Gold Candle. Toronto, Ontario--(Newsfile Corp. - May 20, 2025) - Mistango River Resources Inc. (CSE: MIS) ("Mistango" or the "Company") is pleased to announce that it has entered into a purchase agreement to acquire 100% of the McVittie Property ("McVittie") immediately adjacent to its 100%-owned Omega Gold Project ("Omega") to the north. McVittie Property now consolidated into the Omega Gold Project McVittie is located in south-central McVittie Township, in the Larder Lake Mining Division of Ontario, approximately 25km east of Kirkland Lake, Ontario. McVittie comprises eight patents with surface and mining rights, and is contiguous with the northern portion of Omega. The acquisition has increased Omega's property size from 257 hectares to 400 hectares. Figure 1) Link to Map of McVittie Project, Expanding Omega Figure 2) Map of Major Resources of the Kirkland Lake / CLLB District Omega is Central to the Cadillac-Larder Lake Break consolidation strategy Omega historically produced ~215,000 ounces grading 5.41 g/t gold between 1926-1928 and 1936-1947. Omega currently hosts an open pitable resource, including a Measured and Indicated Resource of 4.92 Mt grading 1.39 g/t gold (219.8 Koz), and an Inferred Resource of 4.69 Mt grading 2.43 g/t gold (365.4 Koz). Having a global resource of 585 Koz gold, Omega is a strategic growth asset in a multi-million-ounce gold district that is primed for consolidation—the Cadillac Larder Lake Break ("CLLB")1. The prolific CLLB, and the larger Kirkland Lake district, host some of the highest-grade gold resources globally. Immediately adjacent to and surrounding Omega, MAG Silver's Larder Project hosts a historical indicated resource 388 Koz grading 2.39 g/t gold, and a historical inferred resource of 933 Koz grading 4.21 g/t gold2. Near the town of Kirkland Lake, Ontario (30km west of Omega), the Cadillac Break hosts Agnico Eagle's Macassa Mine, one of the world's highest grade gold deposits, producing at an average grade of 15 g/t gold3. Located 10km east of Omega, in the town of Virginia town, the historical Kerr Addison mine produced 11 Moz at 9 g/t gold, and currently hosts an indicated resource of 3.31 Moz grading 1.5 g/t gold, and an inferred resource of 2.36 Moz grading 1.3 g/t gold4. North of Omega and the CLLB, Agnico Eagle is developing their Upper Beaver deposit, which hosts 3.6 Moz gold5. QP StatementThe technical information contained in this news release has been reviewed and approved by Charles Beaudry, and géo., Director of Mistango River Resources, a Qualified Person, as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects." For the exploration undertaken by Mistango, all assay batches are accompanied by rigorous Quality Assurance procedures, including the insertion of standards and blanks. Transaction DetailsMistango is acquiring the McVittie Property from Jubilee for $25,000 and a 3% NSR on McVittie, with Mistango having the right to purchase 1% of the 3% from the vendor for $1,000,000. This transaction is subject to Canadian Securities Exchange (CSE) and TSXV approvals. For the latest videos from Mistango, Ore Group, and all things mining, subscribe to our YouTube Channel here. To Speak to the Company directly, please contact:Stephen Stewart, ChairmanPhone: 416.644.1567Email: info@ Neither the Canadian Securities Exchange nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this release. Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Mistango assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements unless and until required by securities laws applicable to Mistango. Additional information identifying risks and uncertainties is contained in filings by Mistango with Canadian securities regulators, which filings are available under Mistango profile at 1 Refer to Mistango River Resources Inc. May 10, 2013 Technical Report on the Omega Property on Refer to Gatling Exploration September 2, 2021 Updated Mineral Resource Estimate on the Larder Gold Project on Refer to Agnico Eagle's news release dated Feb 13, 2025 on 4 Refer to Gold Candle's Corporate Presentation dated February 2025 on Refer to Agnico Eagle's Detailed Mineral Reserve and Resource Data on To view the source version of this press release, please visit
Cision Canada
12-05-2025
- Business
- Cision Canada
Silvercorp Announces Updated Mineral Resource Estimate for its Condor Project, located in the Zamora Chinchipe Province of Ecuador
VANCOUVER, BC, May 12, 2025 /CNW/ - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM) is pleased to report an updated independent mineral resource estimate (the "MRE") prepared in accordance with National Instrument 43-101- Standards of Disclosure for Mineral Projects ("NI 43-101") for its Condor gold project in the Zamora-Chinchipe Province of Ecuador (the "Project"). A preliminary economic assessment ("PEA") was completed on the Project in 2021 by a previous operator 1, which outlined a high tonnage, low-grade, open pit gold project. As discussed in its December 4, 2024 press release, that after publishing an updated MRE the Project, the Company will then publish an updated Preliminary Economic Assessment study for the Project. The MRE update was completed by SRK Consulting (Canada) Inc. ("SRK") with an effective date of February 28, 2025, focused on the higher-grade material that would be accessible through underground mining, whereas the Camp and Los Cuyes deposits are reported as underground resources, based on cutoff grades of 2.2 g/t (Base Case) , 1.5 g/t (Case 2), and 1 g/t (Case 3) of gold equivalent ("AuEq") (Table 1). For the smaller satellite deposits of Enma and Soledad, mineral resources are reported using conceptual pit constraints (Table 2). Highlights of MRE for Underground Operation Total indicated underground mineral resources of 3.17 million tonnes ("Mt") at Camp and Los Cuyes deposits, containing 0.34 million ounces ("Mozs") of gold ("Au"), 2.0 Moz of silver ("Ag"), and 49.4 million pounds ("Mlbs") of zinc ("Zn"), or collectively 0.37 Moz gold equivalent ("AuEq") at a cutoff grade of 2.2 g/t AuEq. Total inferred underground mineral resources of 12.1 Mt at Camp and Los Cuyes deposits, containing 1.38 Mozs of Au, 8.56 Mozs of Ag, and 204.2 Mlbs of Zn, or collectively 1.50 Mozs AuEq at a cutoff grade of 2.2 g/t AuEq. Favorable initial metallurgical test work indicates laboratory-based gold recoveries of up to 96% at Camp and 88% at Los Cuyes based on cyanide leaching. Resource Estimation Details The mineralized bodies have been modeled as a combination of sub-vertical to steeply dipping planar structures, and a disseminated system of mineralization in four distinct deposits, each with individual mineralization characteristics. The exploration database contains exploration results from previous operators of the Project from 1993 to 2018. Silvercorp has undertaken relogging of the drill holes and a re-interpretation of the controls on mineralization. The mineral resources have been estimated using a combination of ordinary kriging and Inverse Distance squared weightings depending on the quantity and density of data available in each mineralized domain. The mineral resources have been classified and reported in accordance with the 2014 Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Definition Standards and NI 43-101. A full NI 43-101 technical report covering all the details of mineral resource estimation processes will be posted under the Company's SEDAR+ profile at within 45 days from the date of this news release. ________________________________ 1 Condor Project NI 43-101 Report on Preliminary Economic Assessment Zamora-Chinchipe, Ecuador, July 28, 2021, filed under Luminex Resources on Sedar+ A Base Case underground mineral resource estimate for the Camp and Los Cuyes deposits was made based on a cutoff grade of 2.2g/t AuEq which is calculated from assumptions of specified metal prices and estimated costs of mining, processing and G&A. Cutoff sensitivity tables for Case 2 (cutoff grade of 1.5 g/t AuEq) and Case 3 (cutoff grade of 1.0 g/t AuEq) are also provided. These cases are based on lower cutoff grades derived from higher metals prices and lower costs of mining, processing and G&A, to accommodate optimistic perspective of future market conditions. Table 1: Condor Project – Underground Mineral Resource as of Feb 28, 2025 Base Case – Cutoff Grade AuEq 2.2 g/t Cutoff grade calculation= (Mining cost + Processing cost + G&A) / (Au price * Au payable * Au recovery * (1-royalty)/31.1035): -Camp = (US$80/t + US$40/t+ US$22/t)/(US$2,200 * 99.5% * 96% * (1-3%)/ 31.1035. -Los Cuyes = (US$80/t + US$35/t+ US$18/t)/(US$2,200 * 99.2% * 88% * (1-3%)/ 31.1035. Sensitivity Case 2 - Cutoff Grade AuEq 1.5 g/t Cutoff grade calculation= (Mining cost + Processing cost + G&A) / (Au price * Au payable * Au recovery * (1-royalty)/31.1035): -Camp = (US$60/t + US$30/t+ US$22/t)/(US$2,500 * 99.5% * 96% * (1-3%)/ 31.1035. -Los Cuyes = (US$60/t + US$30/t+ US$15/t)/(US$2,500 * 99.2% * 88% * (1-3%)/ 31.1035. Sensitivity Case 3 - Cutoff Grade AuEq 1 g/t Cutoff grade calculation= (Mining cost + Processing cost + G&A) / (Au price * Au payable * Au recovery * (1-royalty)/31.1035): -Camp = (US$55/t + US$20/t+ US$15/t)/(US$3,000 * 99.5% * 96% * (1-3%)/ 31.1035. -Los Cuyes = (US$55/t + US$20/t+ US$10/t)/(US$3,000 * 99.2% * 88% * (1-3%)/ 31.1035. In addition to the underground MRE at Camp and Los Cuyes, conceptual open pit shell constrained MRE were reported for Soledad and Enma with cut-off grades of 0.5 g/t AuEq for Soledad and 0.6 g/t AuEq for Enma (Table 2): Total indicated open pit mineral resources of 4.06 Mt at the Soledad and Enma deposits, containing 0.14 Moz of Au, 9.27 Moz of Ag, and 50.1 Mlbs of Zn, or collectively 0.15 Mozs AuEq. Total inferred open pit mineral resources of 14.17 Mt at the Soldedad and Enma deposits, containing 0.35 Mozs of Au, 2,676 Kozs of Ag, and 158.1 Mlbs of Zn, or collectively 0.38 Mozs AuEq. Table 2: Condor Project – Conceptual Open Pit Constrained Mineral Resource as of Feb 28, 2025 Cutoff grade within pit shell = (Processing cost + G&A)/ (Au price * Au payable * Au recovery * (1-royalty)/31.1035): -Soledad = (US$20/t+ US$12/t)/(US$2,200 * 99.5% * 90% * (1-3%)/ 31.1035. -Enma = (US$20/t+ US$12/t)/(US$2,200 * 99.5% * 75% * (1-3%)/ 31.1035. Notes: Mineral resources are reported in relation to a conceptual pit shell for Soledad and Enma, and above an underground extraction economic cut off value for Camp and Los Cuyes. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. All figures are rounded to reflect the relative accuracy of the estimate. AuEq equivalent formulas by deposits using a gold price of US$2,200/oz, silver price of US$27/oz, zinc price of US$2,650/t and lead price of US$1,950/t. - Camp = Au g/t + Ag g/t * 0.0076 + Zn %* 0.1643 + Pb% * 0.0976. - Los Cuyes = Au g/t + Ag g/t * 0.0092 + Pb% * 0.1515. - Soledad = Au g/t + Ag g/t * 0.0109. - Enma = Au g/t + Ag g/t * 0.0111. Numbers may not compute exactly due to rounding. Deposit Descriptions The Condor deposits are hosted in a Cretaceous volcanic complex of diatremes and rhyolite/dacite intrusives crosscutting the Zamora batholith granodiorite of Jurassic age. The Project consists of the following known deposits in the northern area (Figure 1): Los Cuyes: Gold is hosted in a volcanic diatreme which crosscuts a granodiorite batholith. The diatreme, with a dimension of 450m in NE-SW x 300m in NW-SE x 350m depth comprises phreatomagmatic breccias, tuff and sediments, all of which are cross-cut by NW and NE striking dykes of rhyolite and dacite. Gold mineralization mostly occurs in subvertical vein structures containing pyrite and sphalerite with minor amounts of galena and chalcopyrite. The vein-like mineralisation primarily occurs along the contact zones of intrusive dykes with the surrounding volcanics and Granodiorite batholith. In addition, gold is also associated with sulfide dissemination occurring in rhyolitic tuff units, resulting in wide sub-horizontal zones of gold mineralization. Camp: Gold mineralization occurs within veins of pyrite/sphalerite and is controlled by NW striking rhyolite dykes at shallow levels, as well as crypto intrusive domes of rhyolite at depth. Gold mineralization remains open beyond a depth of 700 metres based on existing drill data. Soledad: Gold mineralization is associated with pyrite/sphalerite replacement of feldspar grains (patchy) or veins hosted in a rhyodacite porphyry. At San Jose, gold mineralization consists of sphalerite-rich veins hosted in phreatomagmatic breccia. Guaya: Gold mineralization is associated with pyrite-sphalerite veins hosted in a rhyo-dacite porphyry. Enma: Gold mineralization occurs within veins of pyrite/sphalerite hosted in the rhyolitic breccia along the contact between dacitic tuff and granodiorite batholith. Next Steps The Company will undertake a 3,500-metre surface drilling program over 10 holes at Los Cuyes and Camp commencing in May 2025 to test several areas where the Company sees exploration potential: Broad zones of sub-horizontal disseminated gold mineralization which occur within the rhyolitic tuffs at Los Cuyes. Contact zone of crypto rhyolite domes with batholith granodiorite for wide mineralization at Camp. Region between the Camp and Los Cuyes deposits. Gap area between Camp and Soledad, testing for potential connection of NW trending mineralized structures across the two deposits and for potential strike extension of NW trending mineralized structures. Gap between the Los Cuyes and Enma deposits for potential strike extension of NW trending mineralized structures. With the MRE complete, the Company plans to publish a PEA by the end of 2025 for an underground operation. In addition, the Company will continue to advance necessary permits and community agreements required to develop exploration tunnels into the higher grade zones, which will inform a possible feasibility study which would follow the PEA. Q ualified Person The MRE and data verification were completed by SRK. Mr. Mark Wanless, Principal Geologist with SRK, is the qualified person (as defined in NI 43-101) for the purposes of the MRE. The scientific and technical information contained in this news release has been reviewed and approved by the qualified person. The qualified person has verified the information disclosed herein using standard verification processes, including the sampling, preparation, security and analytical procedures underlying such information, and is not aware of any significant risks and uncertainties or any limitations on the verification process that could be expected to affect reliability or confidence in the information discussed herein. About Silvercorp Silvercorp is a Canadian mining company producing silver, gold, lead, and zinc with a long history of profitability and growth potential. The Company's strategy is to create shareholder value by 1) focusing on generating free cash flow from long life mines; 2) organic growth through extensive drilling for discovery; 3) ongoing merger and acquisition efforts to unlock value; and 4) long term commitment to responsible mining and ESG. For more information, please visit our website at Cautionary Note to US Investors This news release has been prepared in accordance with the requirements of Canadian NI 43-101 and the CIM, which differ from the requirements of U.S. securities laws. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. Canadian public disclosure standards, including NI 43-101, differ significantly from the requirements of the United States Securities and Exchange Commission (the "SEC"), and information concerning mineralization, deposits, mineral reserve and mineral resource information contained or referred to herein may not be comparable to similar information disclosed by U.S. companies. In particular, and without limiting the generality of the foregoing, this news release uses the terms "indicated mineral resources", and "inferred mineral resources". U.S. investors are advised that, while such terms are recognized and required by Canadian securities laws, the SEC does not recognize them. The requirements of NI 43-101 for identification of "reserves" are not the same as those of the SEC, and may not qualify as "reserves" under SEC standards. Under U.S. standards, mineralization may not be classified as a "reserve" unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made. U.S. investors are cautioned not to assume that any part of an "indicated mineral resource" will ever be converted into a "reserve". U.S. investors should also understand that "inferred mineral resources" have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of "inferred mineral resources" exist, are economically or legally mineable or will ever be upgraded to a higher category. Under Canadian securities laws, estimated "inferred mineral resources" may not form the basis of feasibility or pre-feasibility studies except in rare cases. Disclosure of "contained metal" in a mineral resource is permitted disclosure under Canadian securities laws. However, the SEC normally only permits issuers to report mineralization that does not constitute "reserves" by SEC standards as in place tonnage and grade, without reference to unit measures. Accordingly, information concerning mineral deposits set forth herein may not be comparable with information made public by companies that report in accordance with U.S. standards. This news release includes "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable securities laws relating to, among other things statements regarding inferred, indicated or measured mineral resources or mineral reserves on the Company's projects, the anticipated exploration, drilling, development, construction, and other activities or achievements of the Company; the filing of NI 43-101 technical report; plans to advance the permits and community agreements required to develop exploration tunnels into the higher grade zones; and the Company's plans to publish a PEA. By their very nature, forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking information may in some cases be identified by words such as "will", "anticipates", "expects", "intends" and similar expressions suggesting future events or future performance. Actual results may vary from forward-looking statements. We caution that all forward-looking information is inherently subject to change and uncertainty and that actual results may differ materially from those expressed or implied by the forward-looking information. A number of risks, uncertainties and other factors, including fluctuating commodity prices; recent market events and condition; estimation of mineral resources, mineral reserves and mineralization and metal recovery; interpretations and assumptions of mineral resource and mineral reserve estimates; exploration and development programs; climate change; economic factors affecting the Company; timing, estimated amount, capital and operating expenditures and economic returns of future production; integration of future acquisitions into existing operations; permits and licences for mining and exploration in China; title to properties; non-controlling interest shareholders; acquisition of commercially mineable mineral rights; financing; competition; operations and political conditions; regulatory environment in China; regulatory environment and political climate in Bolivia and Ecuador; changes in national and local government's taxation, controls, political or economic developments; integration and operations of Adventus; the Company's ability to obtain and maintain social license at its mineral properties; risks associated with community relations and corporate social responsibility; environmental risks; natural disasters; dependence on management and key personnel; foreign exchange rate fluctuations; insurance; risks and hazards of mining operations; conflicts of interest; internal control over financial reporting as per the requirements of the Sarbanes-Oxley Act; outcome of current or future litigation or regulatory actions; bringing actions and enforcing judgments under U.S. securities laws; cyber-security risks; public health crises; the Company's investment in New Pacific Metals Corp. and Tincorp Metals Inc.; and the other risk factors described in the Company's Annual Information Form and in the Company's Annual Report on Form 40-F, and other filings with Canadian and U.S. regulators on and could cause actual results and events to differ materially from those expressed or implied in the forward-looking information or could cause our current objectives, strategies and intentions to change. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Accordingly, we warn investors to exercise caution when considering statements containing forward-looking information and that it would be unreasonable to rely on such statements as creating legal rights regarding our future results or plans. We cannot guarantee that any forward-looking information will materialize and you are cautioned not to place undue reliance on this forward-looking information. Any forward-looking information contained in this news release represents expectations as of the date of this news release and is subject to change after such date. However, we are under no obligation (and we expressly disclaim any such obligation) to update or alter any statements containing forward-looking information, the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law. All of the forward-looking information in this news release is qualified by the cautionary statements herein. A comprehensive discussion of other risks that impact Silvercorp can also be found in their public reports and filings which are available under its profile at
