TORONTO, July 9, 2024 /CNW/ - Silver Mountain Resources Inc. ("Silver Mountain" or "the Company") (TSXV: AGMR) (OTCQB: AGMRF) is pleased to announce that Peru´s Ministry of Energy and Mines has approved the Reliquias and Caudalosa Mine Closure Plans, a key milestone permit needed to commence production in this historic mining district located in central Peru.
Alvaro Espinoza, CEO of Silver Mountain, remarked, "We welcome the approval of the Reliquias and Caudalosa Mine Closure Plans. Our legal, technical, and permitting team has done exceptional work preparing and presenting a solid mine closure plan which fully complies with Peru´s rigorous environmental standards. The Mine Closure Plans are some of the final permits required to restart commercial production at the Reliquias Mine and, coupled with the recently approved extension of the environmental certification, brings us closer to our goal of becoming Peru's next silver producer. The Company continues to advance its work at the Reliquias Mine at a time of high metal prices and improving market sentiment towards silver producers."
The approval of the Mine Closure Plans includes authorizing the disposal of waste material from the underground Reliquias Mine into the historic Matacaballo open pit, simultaneously reducing the project´s footprint and remediating historic environmental liabilities.
On Behalf of the Board of Directors of Silver Mountain Resources Inc.
Alvaro Espinoza, Chief Executive Officer
About Silver Mountain
Silver Mountain Resources Inc. is a silver explorer and mine developer planning to restart production at the Reliquias underground mine and currently exploring its 100% owned Castrovirreyna Project, consisting of over 60,000 hectares of highly prospective mineral claims and concessions located in the Huancavelica Region, central Peru. For additional information regarding the Castrovirreyna Project, please refer to the Company's technical report, titled NI 43-101 Technical Report: Preliminary Economic Assessment, Reliquias Mine, dated June 26, 2024, effective date May 15, 2024, available at https://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.
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SOURCE Silver Mountain Resources Inc.
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Contact:
For Further Information Contact: Alvaro Espinoza, Chief Executive Officer, Silver Mountain Resources Inc, 82 Richmond Street East, Toronto, ON M5C 1P1, +51 954 475 319, info@agmr.ca, www.agmr.ca