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TORONTO, Oct. 28,
2024 /CNW/ - Silver Mountain Resources Inc. (TSXV:
AGMR) | (OTCQB: AGMRF) | (BVL: AGMR) ("Silver Mountain" or
the "Company") announces that as a result of a continuous
disclosure review by staff of the Ontario Securities Commission,
the Company has filed (i) an amended and restated preliminary
economic assessment for its Reliquias Mine in central
Peru dated October 28, 2024 and with an effective date
of May 15, 2024 (the "Amended
Technical Report"), and (ii) a material change report
disclosing certain information in respect of the Company's Chief
Operating Officer to supplement the Company's annual information
form for the year ended December 31,
2023.
The Amended Technical Report contains no changes to the material
disclosures in the previously filed technical report dated
June 26, 2024, including no changes
to the estimated mineral reserves and resources, the mine plan,
cost estimates and economic analysis. The Amended Technical Report
is being filed to provide additional disclosure in respect of the
Company's exploration activities at the Reliquias Mine and the mine
closure plan recently approved by Peru's Ministry of Energy and Mines.
The Amended Technical Report was prepared in compliance with
National Instrument 43-101 - Standards for Disclosure of Mineral
Projects and is available under the Company's profile on SEDAR+ at
www.sedarplus.ca and on the Company's website at
www.agmr.ca.
About Silver Mountain Resources Inc.
Silver Mountain 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.
For additional information in respect of the Castrovirreyna
Project, please refer to the Company's technical report, titled
Amended and Restated NI 43-101 Technical Report: Preliminary
Economic Assessment, Reliquias Mine, dated October 28, 2024, effective date May 15, 2024, available at www.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 andholds more than 60,000 hectares in
the district of Castrovirreyna, Huancavelica, Peru.
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 April 26,
2024, and other disclosure documents available on the
Company's profile 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.