VANCOUVER, BC, Sept. 27,
2022 /CNW/ - Regency Silver Corp. ("Regency
Silver" or the "Company", (TSXV: RSMX) (OTCQB: RSMXF) is pleased to
announce that it has entered into an option agreement (the "Option
Agreement") to option a 100% undivided interest in the Oso Blanco
Claims located in the State of
Sonora, Mexico.
The Oso Blanco claims cover an area of approximately 5,650
hectares and are located contiguous to the Company's Dios Padre
project.
Sampling by the previous owner returned values as high as 545
grams per tonne silver and 2.1% copper. A previous trenching
program returned values as high as 3.41 grams per tonne gold and 95
grams per tonne silver in a 2 meter trench.
In order to exercise the option, Regency Silver must pay the
total sum of US$500,000 over 5 years,
pay back taxes and mining filings currently estimated to be
US$500,000 by March 31, 2023 and issue a total of 1,000,000
common shares over 36 months. Regency Silver must also pay a
US$1,000,000 bonus upon a NI 43-101
resource being published, which estimates the area of mutual
interest (as that term is defined in the Option Agreement) contains
a minimum of 70 million silver equivalent ounces, or 1 million gold
ounces or an equivalent value in precious or base metals, in the
measured or indicated categories. The shares are subject to a four
month hold period and the agreement is subject to the approval of
the TSX Venture Exchange.
ABOUT REGENCY SILVER
CORP.
Regency Silver is a silver and gold exploration company focused
on the Americas. Regency Silver is led by a team of experienced
professionals with expertise in both exploration and production.
Regency Silver's flagship project is the Dios Padre silver project
in Sonora, Mexico.
The technical information contained in this news release has
been reviewed by Company director Michael
Tucker, P.Geo, who is recognized as a Qualified Person under
the guidelines of National Instrument 43-101. Mr. Tucker is a
director of the Company and for that reason is not considered
independent. Mr. Tucker has read and approved the technical
contents of this news release.
For further details about the Company please visit
www.Regency-Silver.com.
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.
Cautionary Note Regarding Forward-Looking
Statements: This news release includes certain
forward-looking statements and forward-looking information
(together, "forward-looking statements"). There can be no assurance
that such statements will prove to be accurate and actual results
and future events may vary from those anticipated in such
statements. Important risk factors that could cause actual results
to differ materially from the Company's plans or expectations
include the risk that TSX Venture Exchange acceptance of the option
agreement will not be obtained, regulatory changes, fundraising,
and risk associated with mineral exploration, including the risk
that actual results of exploration will be different from those
expected by management. The forward-looking statements in this news
release were developed based on the expectations of management,
including that Exchange acceptance for the proposed transaction
will be obtained, conditions will be satisfied, required
fundraising will be completed and the other risks described above
will not materialize. The Company expressly disclaims any intention
or obligation to update or revise any forward-looking statements
whether as a result of new information, future events or otherwise,
except as otherwise required by applicable securities
legislation.
SOURCE Regency Silver Corp