American Marconi Wireless News - Silver Storm Conducts First Pour of Silver-Gold Doré at La Parrilla

Greg McKenzie, President and CEO, stated, "We are excited to reach this significant milestone less than three years after closing the acquisition of La Parrilla. I extend my congratulations to the Silver Storm team for delivering first silver safely and successfully. With the first pour completed, we have kicked off the restart of operations at La Parrilla, starting a new chapter for the Company and its stakeholders."

Figure 1: First doré pour at La Parrilla (left); silver-gold doré bars poured at La Parrilla (right)

The first pour was completed as part of the commissioning process of the oxide processing circuit at La Parrilla. The Company now expects to be able to pour silver-gold doré on an ongoing basis. Silver Storm commenced the commissioning of the oxide processing circuit in early June utilizing mineralized material from the open-pit oxide stockpile. The oxide circuit will continue to process the material from the oxide stockpile until underground development in the San Marcos area of the mine starts to provide access to run-of-mine mineralized oxide material. Commissioning of the 1,250 tonnes per day sulphide processing circuit is expected to commence in June 2026 with an estimated ramp-up period of one month.

Issue of Stock Options

Pursuant to its 2020 Amended and Restated Incentive Stock Option Plan (the "Plan"), Silver Storm has granted stock options of the Company ("Options") to certain officers, employees, and consultants of the Company, to purchase an aggregate of 400,000 common shares of the Company at the price of $0.50 per share for a period of five years from date of grant. The Options all vest periodically in accordance with their terms. The Options granted are under and subject to the terms and conditions of the Plan and subject to the rules and policies of the TSX Venture Exchange (the "Exchange"). This stock option grant is subject to acceptance by the Exchange.

Qualified Person

The scientific and technical information in this document has been reviewed and approved by Shane Ghouralal, P.Eng., Director, Technical Services of the Company, a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").

About Silver Storm Mining Ltd.

Silver Storm Mining Ltd. holds advanced-stage silver projects located in Durango, Mexico. Silver Storm is committed to advancing toward a potential near-term restart of its 100%-owned La Parrilla Silver Mine Complex, a prolific operation comprised of a 2,000 tpd mill and three underground mines. The Company also holds a 100% interest in the San Diego Project which ranks among the largest undeveloped silver projects in Mexico. For more information regarding the Company and its projects, please visit our website at www.silverstorm.ca.

For additional information, please contact:

Greg McKenzie, President & CEO
Ph: +1 (416) 504-2024
[email protected]

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Note Regarding Forward Looking Statements:

Certain statements in this news release are forward-looking and involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of the phrase 'forward-looking information' in the Canadian Securities Administrators' National Instrument 51-102 - Continuous Disclosure Obligations. Forward-looking statements are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives, or goals, including words to the effect that the Company or management and Qualified Persons (in the case of technical and scientific information) expect a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties, and other factors involved with forward-looking information could cause actual events, results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes but is not limited to: the Company's plans and expectations for La Parrilla; the expected timeline for underground development and the provision of run-of-mine mineralized material to the oxide processing circuit; the expected oxide circuit processing rates and the expectation of conducting doré pours on an ongoing basis; and the timeline for the completion of the commissioning activities at La Parrilla.

In making the forward-looking statements included in this news release, the Company has applied several material assumptions, including, among other things, the absence of material adverse changes in market conditions, metal prices, permitting status, operating conditions, labour availability, and access to required equipment, parts, and consumables. The Company cautions that its decision to potentially restart operations at La Parrilla, and any related production decisions, are largely based on internal Company data, historical operating results, reports, and engineering assessments and are not supported by a current mineral reserve estimate prepared in accordance with NI 43-101, preliminary economic assessments, pre-feasibility studies, or feasibility studies that demonstrate economic and technical viability. As a result, there is increased uncertainty and a higher degree of economic and technical risk associated with any such production decision than would be the case if such mineral reserves estimates or studies were completed and relied upon to support a production decision. No mineral reserves have been established for La Parrilla, and mineral resources that are not reserves do not have demonstrated economic viability. The absence of mineral reserve estimates prepared in accordance with NI 43-101, preliminary economic assessments, pre-feasibility studies, or feasibility studies supporting a production decision increases the uncertainty of achieving any particular level of mineral recovery or the cost of such recovery and heightens the risks associated with developing a commercially mineable deposit. Historically, projects advanced without the support of such mineral reserves estimates and studies have experienced a significantly higher incidence of economic and technical failure. There can be no assurance that production at La Parrilla will commence as anticipated or at all, or that any anticipated production levels or operating costs will be achieved. A failure to commence production would have a material adverse effect on the Company's ability to generate revenue and cash flow to fund its operations. Similarly, a failure to achieve anticipated production costs would have a material adverse effect on the Company's cash flow and future profitability.

Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company's actual results, performance, or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties, and other factors set out herein.

Such forward-looking information represents management's and Qualified Persons' (in the case of technical and scientific information) best judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

SOURCE: Silver Storm Mining Ltd.

View the original press release on ACCESS Newswire

L.Harper--AMWN