2024-07-09 12:25 ET - News Release
Mr. Alvaro Espinoza reports
SILVER MOUNTAIN SECURES FINAL GOVERNMENT APPROVAL FOR RELIQUIAS MINE CLOSURE PLAN
Peru's Ministry of Energy and Mines has approved Silver Mountain Resources Inc.'s 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, chief executive officer 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 projects footprint and remediating historic environmental liabilities.
About Silver Mountain Resources Inc.
Silver Mountain Resources is a silver explorer and mine developer planning to restart production at the Reliquias underground mine and currently exploring its 100-per-cent-owned Castrovirreyna project, consisting of over 60,000 hectares of highly prospective mineral claims and concessions located in the Huancavelica region, central Peru.