Clarification of Joint Venture AgreementOrko Silver Provides Clarification of Joint Venture Agreement
VANCOUVER, BRITISH COLUMBIA, Apr 16, 2009 (MARKET WIRE via COMTEX News Network) --
OrkoSilver Corp. ("Orko") (TSX VENTURE: OK) wishes to clarify the confusionsurrounding the terms of the Joint Venture agreement announced in ajoint press release with Pan American Silver Corp. dated April 14,2009.
Pan American Silver Corp. and Orko Silver Corp. havereached an agreement for the joint development of Orko Silver's LaPreciosa silver project.
Under the terms of the Joint Venture agreement:
PanAmerican Silver will contribute 100% of the necessary funds to developLa Preciosa to production to acquire 55% interest in the project. OrkoSilver retains a 45% interest carried to production.
Inaddition, Pan American Silver is undertaking a private placement of4,000,000 common shares of Orko at a purchase price of CDN $1.25 pershare, with certain anti-dilution and pre-emptive rights to participatein future financings of Orko.
About Orko Silver
OrkoSilver Corp. is developing one of the world's largest primary silverdeposits, La Preciosa, located near the city of Durango, Mexico.
ON BEHALF OF THE BOARD OF DIRECTORS
Gary Cope, President
ThisNews Release may contain forward-looking statements including but notlimited to comments regarding the timing and content of upcoming workprograms, geological interpretations, receipt of property titles,potential mineral recovery processes, etc. Forward-looking statementsaddress future events and conditions and therefore involve inherentrisks and uncertainties. Actual results may differ materially fromthose currently anticipated in such statements. Orko relies uponlitigation protection for forward-looking statements.
CautionaryNote to U.S. Investors - The United States Securities and ExchangeCommission permits U.S. Mining companies, in their filings with theSEC, to disclose only those mineral deposits that a company caneconomically and legally extract or produce. We use certain terms inthis press release, such as "measured", "indicated", and "inferred"resources, which the SEC guidelines strictly prohibit U.S. registeredcompanies from including in their filings with the SEC. U.S. Investorsare urged to consider closely the disclosure in our Form 20-F, File No.000-51923, which may be secured from us, or from the SEC's website athttps://www.sec.gov/edgar.shtml.
The TSX Venture Exchange has not reviewed and does not accept responsibility for this News Release.
Contacts: Orko Silver Corp. Gary Cope President (604) 684-4691 (604) 684-4601 (FAX) info@orkosilver.com www.orkosilver.com
SOURCE: Orko Silver Corp.
mailto:info@orkosilver.com https://www.orkosilver.com
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I personally think that many shareholders and analysts are on the phone and nobody can belief this amazing deal. Once the seller is gone we will rocket back to $1,20