NOT FOR DISTRIBUTION TO OR FOR DISSEMINATION IN THE UNITED STATES
Northern Lights Resources Corp. ("Northern Lights", "NLR" or the "Company")(CSE:NLR)(OTCQB:NLRCF) announces that it intends to complete a non-brokered private placement (the "Placement") for gross proceeds of up to C$1,000,000 from the sale of common shares of the Company (the "Shares") at a price of C$0.075 per Share
The Company intends to use the net proceeds raised from the Placement for the exploration of the Company's Secret Pass Gold Project located in Northwestern Arizona, USA and for general working capital purposes.
The Placement may be completed in multiple tranches and is subject to receipt of executed subscription agreements and funds as well as customary closing conditions, including regulatory approvals as required.
In accordance with applicable securities laws, the Shares issued under the Placement will be sold to accredited investors or other investors who are exempt from prospectus requirements and will be subject to a four-month hold period in Canada. While the Placement is non-brokered, referral fees may be paid on a portion of the proceeds to eligible persons, where permitted by applicable law.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or any applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. persons," as such term is defined in Regulation S promulgated under the U.S. Securities Act, absent registration or an exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
No securities regulatory authority has either approved or disapproved of the contents of this news release.
For further information on Northern Lights Resources please contact:
Albert Timcke, Executive Chairman and President
Email: rtimcke@northernlightsresources.com
Tel: +1 604 608 6163
Jason Bahnsen, Chief Executive Officer
Email: Jason@northernlightsresources.com
Tel: +1 604 608 6163
Shawn Balaghi, Investor Relations
Email: Shawn@northernlightsresources.com
Tel: +1 604 773 0242
About Northern Lights Resources Corp.
Northern Lights Resources Corp is a growth-oriented exploration and development company that is advancing two projects: The 100% controlled, Secret Pass Gold Project located in Mohave County, Arizona; and the Medicine Springs silver-zinc-lead Project located in Elko County, Nevada where Northern Lights is earning 100% in joint venture with Reyna Silver Corp.
Northern Lights Resources trades under the ticker of "NLR" on the CSE. This and other Northern Lights Resources news releases can be viewed at www.sedar.com and www.northernlightsresources.com.
SOURCE: Northern Lights Resources Corp.
News Provided by ACCESSWIRE via QuoteMedia
Northern Lights Resources Corp. ("Northern Lights" or the "Company") (CSE:NLR)(OTCQB:NLRCD) is pleased to announce start of the 2022 exploration program at the Medicine Springs Silver Project ("Medicine Springs"), located in Elko County, Nevada, that the Company is exploring in joint venture with Reyna Silver Corp. (Reyna Silver
The 2022 exploration program at Medicine Springs will include a 5,000 to 7,000 metre drill program targeting the discovery of a large scale Carbonate Replacement Deposit (CRD) system. Drill permitting is underway and work is commencing immediately on additional field studies to further refine drill targets. Drilling is expected to commence in Q3/Q4 2022.
Norhern Lights CEO, Jason Bahnsen commented "We are delighted to have work underway at Medicine Spings leading to the upcoming 5,000 to 7,000 metre drill program. The Medicine Springs Project has the potential to host large scale CRD silver and base metals mineralizaton and we are looking forward to seeing the results of this initial drill program."
Under the terms of the Opton/JV agreement between Northern Lights and Reyna Silver, Reyna Silver are earning up to 80% of the Medicine Springs Project. Northern Lights does not contribute to project exploration expenditure until total exploration expenditures have exceeded US$4.0 million. (See the Northern Lights announcement dated October 5, 2020 for full details of the Option/JV agreement with Reyna Silver.)
In 2021, Reyna Silver conducted a Selective Jasperoid Sampling survey focused on the prominent NE trending, multi-stage jasperoids that cut across the property along the inferred principal hydrothermal fluid pathways. The results show zoning of Copper, Lead-Zinc, and Silver and are interpreted to indicate a multi-stage high-level mineralization center at depth. Comparison of the field data to Reyna's CRD continuum exploration model supports the idea that the full CRD spectrum is present within the Medicine Springs project area.
Competent Persons Statement
Information in this report relating to Exploration Results is based on information reviewed by Mr. Lee R. Beasley, a Certified Professional Geologist who is a Member of the American Institute of Professional Geologists, and a consultant to Northern Lights Resources. Mr. Beasley has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a Qualified Person for the purposes of NI43-101 Standards of Disclosure for Mineral Projects. Mr. Beasley consents to the inclusion of the data in the form and context in which it appears.
For further information, please contact:
Albert Timcke, Executive Chairman and President
Email: rtimcke@northernlightsresources.com
Tel: +1 604 608 6163
Jason Bahnsen, Chief Executive Officer
Email: Jason@northernlightsresources.com
Tel: +1 604 608 6163
Shawn Balaghi, Investor Relations
Email: shawn@northernlightsresources.com
Tel: +1 604 773 0242
About Northern Lights Resources Corp.
Northern Lights Resources Corp is a growth-oriented exploration and development company that is advancing two projects: The 100% owned, Secret Pass Gold Project located in Arizona; and the Medicine Springs silver-zinc-lead Project located in Elko County Nevada where Northern Lights, in joint venture with Reyna Silver are earning 100% ownership. Northern Lights Resources is a member of the Arizona Mining Association.
Northern Lights Resources trades under the ticker of "NLR" on the CSE and "NLRCD" on the OTCQB. This and other Northern Lights Resources news releases can be viewed at www.sedar.com and www.northernlightsresources.com.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to: the terms and conditions of the proposed private placement; use of funds; the business and operations of the Company after the proposed closing of the Offering. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; and the uncertainties surrounding the mineral exploration industry. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking statements. The Company 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 required by law.
SOURCE: Northern Lights Resources Corp.
News Provided by ACCESSWIRE via QuoteMedia
Northern Lights Resources Corp. ("Northern Lights", "NLR" or the "Company") (CSE:NLR), (OTCQB:NLRCF) is pleased to announce that it is proceeding with the consolidation of its common shares on a ten (10) for one (1) basis (the "Consolidation"). The Company's common shares will commence trading on a post-consolidated basis effective at market opening on May 24, 2022 (the "Effective Date
Immediately prior to completion of the Consolidation, the Company has 143,571,385 common shares issued and outstanding. After giving effect to the Consolidation, the Company will have approximately 14,357,139 common shares issued and outstanding, subject to the rounding of fractional common shares. The company has been issued with a new Cusip Number (66538D301), there will be no escrow of shares, and the trading symbol will remain unchanged.
No fractional common shares will be issued as a result of the Consolidation. All fractional common shares resulting from the Consolidation will be rounded to the nearest whole number of common shares. The Company's outstanding incentive stock options and warrants will be adjusted on the same basis (10:1) to reflect the Consolidation in accordance with their respective terms, with proportionate adjustments being made to exercise prices. New warrant certificates reflecting the Consolidation are not required and will not be issued.
Registered shareholders will receive a letter of transmittal from the Company's transfer agent, Computershare Investor Services Inc., providing instructions on how to exchange their share certificates representing pre-Consolidation common shares for new share certificates or Direct Registration Advice (DRS) representing post-Consolidation common shares to which they are entitled as a result of the Consolidation. No action is required by non-registered shareholders (shareholders who hold their common shares through an intermediary) to affect the Consolidation.
For further information on Northern Lights Resources please contact:
Albert Timcke, Executive Chairman and President
Email: rtimcke@northernlightsresources.com
Tel: +1 604 608 6163
Jason Bahnsen, Chief Executive Officer
Email: Jason@northernlightsresources.co
Tel: +1 604 608 6163
Shawn Balaghi, Investor Relations
Email: Shawn@northernlightsresources.com
Tel: +1 604 773 0242
About Northern Lights Resources Corp.
Northern Lights Resources Corp is a growth-oriented exploration and development company that is advancing two projects: The 100% owned, Secret Pass Gold Project located in Arizona; and the Medicine Springs silver-zinc-lead Project located in Elko County Nevada where Northern Lights is earning 100% in joint venture with Reyna Silver Corp.
Northern Lights Resources trades under the ticker of "NLR" on the CSE. This and other Northern Lights Resources news releases can be viewed at www.sedar.com and www.northernlightsresources.com.
SOURCE: Northern Lights Resources Corp.
News Provided by ACCESSWIRE via QuoteMedia
Northern Lights Resources Corp. ("Northern Lights" or the "Company") (CSE:NLR)(OTCQB:NLRCF) is pleased to announce an update to the exploration plan for the Tin Cup prospect at the Company's 100% owned Secret Pass Gold Project in Mohave County, Arizona
Following on from the success of the initial four holes completed, Northern Lights is planning to expand the exploration program at Secret Pass to include the drilling of three (3) additional holes at Tin Cup and two (2) drill holes at the FM Zone, which is located approximately 500 metres east of Tin Cup. All five (5) proposed drill holes are fully permitted. The drill holes statistics and significant intersections for the first four drill holes are sumarized on Table 1. The location of the recent drill holes and the planned drill holes for Tin Cup and the FM Zones are illlustrated on Figure 1.
Prior to initiating the second phase of drilling, Northern Lights is planning to complete a deep penetrating Induced Polarization (IP) survey over the claim area covering the Tin Cup and FM zones. This survey will explore to depths of ~400 metres and will assist in refining existing targets and identifying new drill targets associated with zones of high chargeability located along strike and to depth. With reference to Figure 1, the IP survey area will cover the gold anomay generated from the soil sampling program completed in 2021. This soil survey identified a significant gold soil anomaly approximately 1,100 metres in length and up to 400 metres wide as shown on Figure1.
Northern Lights CEO, Jason Bahnsen, commented"The initial drilling at Tin Cup has been very successful and has confirmed the presence of wide zones of gold mineralization. The next phase of drilling will test the Tin Cup mineralization at depth and further along strike. We also have two holes permitted to drill at the FM Zone where we are targeting vertical vein structrues similar to Tin cup. The proposed holes are fully permitted with drilling to commence pending financing and availability of drilling contractors."
The first four drill holes completed at Tin Cup showed confirmation of gold mineralization from surface to a maximum depth of approximately 90 metres. The three additional holes planned have been fully permitted and will test the down plunge extension of the gold mineralization. With reference to Figure 2, drill hole TC21-06 is planned for 400 metres at a 55 degree dip to test the mineralizaton at depth. The other two drill holes TC22-07 and TC22-08 will test the mineralization along strike.
At the Tin Cup zone, drilling at depth will test the potential for an epithermal quartz vein system similar to the Oatman District. The geology of the Tin Cup zone shares similarities of the upper parts of the Oatman gold system. The Secret Pass drilling will target both the upper broad zone of stockwork veining and the deeper, more discreet ‘bonanza' veining.
The drilling at the FM zone will target near-vertical mineralized structures related to the FM fault zone similar to the Tin Cup zone.
Table 1: Tin Cup Phase 1 Drill Holes
Hole No. | Location | Azimuth (o) | Dip (o) | Length (m) | Significant Intersections |
TC21-01 | Tin Cup | - | - | - | Abandoned |
TC21-02 | Tin Cup | 220 | -45 | 175 |
|
TC21-03 | Tin Cup | 220 | -55 | 230 |
|
TC21-04 | Tin Cup | 310 | -50 | 103* |
|
TC21-05 | Tin Cup | 040 | -60 | 102* |
|
TC22-06 | Tin Cup | 220 | -65 | 400 | Fully Permitted - Pending Drilling |
TC22-07 | Tin Cup | 250 | -50 | 250 | Fully Permitted - Pending Drilling |
TC22-08 | Tin Cup | 200 | -50 | 150 | Fully Permitted - Pending Drilling |
FM22-01 | FM Zone | 220 | -50 | 150 | Fully Permitted - Pending Drilling |
FM22-02 | FM Zone | 220 | -50 | 150 | Fully Permitted - Pending Drilling |
| Total Completed and Planned | 1,710 | ||||
Note: all intersections have been previously announced and represent downhole widths as insufficient information is available to calculate true widths.
*Drill holes TC21-04 and TC21-05 were terminated early due to technical difficulties.
Figure 1: Drill Locations and Gold Soil Anomalies
Figure 2: Tin Cup Drilling Cross Section and Geological Model
QA/QC Statement
Diamond Core (HQ size) was drilled by Godbe Drilling LLC under the supervision of Mr. Lee Beasley, QP for Northern Lights Resources. The core was split with the half core transported to Skyline Assayers and Laboratories (Skyline) in Tucson, AZ. Field control QA/QC samples, including standards, blanks, and field duplicates, were inserted into the sample stream at a rate of one field control sample every 20 regular samples. Samples received by the lab are logged, weighted and assigned into batches. Sample preparation begins with crushing samples to 75% passing -10 mesh. From this sample, 250 grams of material is separated using a riffle splitter which is then further pulverized to at least 95% - 150 mesh resulting in a pulp that is ready for analysis. Gold was determined by fire assay fusion of a 30 gram sub-samples with atomic absorption spectroscopy (method FA-01). Overlimit samples of gold ( greater than 5 g/t) were assayed by gravimetric means (FA-02). Skyline Laboratories is accredited in accordance with ISO/IEC 17025:2017 and ISO 9001:2015.
Competent Persons Statement
Information in this report relating to Exploration Results is based on information reviewed by Mr. Lee R. Beasley, a Certified Professional Geologist who is a Member of the American Institute of Professional Geologists, and a consultant to Northern Lights Resources. Mr. Beasley has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a Qualified Person for the purposes of NI43-101 Standards of Disclosure for Mineral Projects. Mr. Beasley consents to the inclusion of the data in the form and context in which it appears.
For further information, please contact:
Albert Timcke, Executive Chairman and President
Email: rtimcke@northernlightsresources.com
Tel: +1 604 608 6163
Jason Bahnsen, Chief Executive Officer
Email: Jason@northernlightsresources.com
Tel: +1 604 608 6163
Shawn Balaghi, Investor Relations
Email: shawn@northernlightsresources.com
Tel: +1 604 773 0242
About Northern Lights Resources Corp.
Northern Lights Resources Corp is a growth-oriented exploration and development company that is advancing two projects: The 100% owned, Secret Pass Gold Project located in Arizona; and the Medicine Springs silver-zinc-lead Project located in Elko County Nevada where Northern Lights, in joint venture with Reyna Silver are earning 100% ownership. Northern Lights Resources is a member of the Arizona Mining Association.
Northern Lights Resources trades under the ticker of "NLR" on the CSE and "NLRCF" on the OTCQB. This and other Northern Lights Resources news releases can be viewed at www.sedar.com and www.northernlightsresources.com.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to: the terms and conditions of the proposed private placement; use of funds; the business and operations of the Company after the proposed closing of the Offering. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; and the uncertainties surrounding the mineral exploration industry. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new inforAddmation, future events or otherwise, except as required by law.
SOURCE: Northern Lights Resources Corp.
News Provided by ACCESSWIRE via QuoteMedia
Northern Lights Resources (CSE:NLR) (OTCQB:NLRCF) reports additional high-grade assay results from its third and fourth drill holes at its Tin Cup Prospect at its Secret Pass Gold Project in Arizona. The 100%-owned Secret Pass Gold Project is located in the Frisco-Catherine Gold district of Northwest Arizona, is approximately 8 kilometers Northeast of Elevation Gold's Moss Mine, a heap leach open pit gold mine currently operating at an average mined grade of 0.45 gt gold. Following the acquisition of an additional 260 hectares in September 2021, the Secret Pass Gold Project now covers approximately 1,128 hectares.
A Media Snippet accompanying this announcement is available by clicking on the image or link below:
For more information, please view the InvestmentPitch Media video which provides additional information about this news and the company, along with video comments by Jason Bahnsen, CEO of Northern Lights. The video is available for viewing on " InvestmentPitch.com " and on " YouTube ". If these links are not enabled, please visit www.InvestmentPitch.com and enter "Northern Lights" in the search box.
Northern Lights has completed four diamond core drill-holes, totalling 610 meters, at Tin Cup. All four drill holes intercepted zones of moderate to strong gold mineralization hosted by altered andesite.
Today's results are from Hole TC21-04 and 05. Hole TC21-04 intersected 0.95 g/t gold over 103.00m, starting at surface and including the entire length of the drill hole . This included 2.96 g/t gold over 12.96m starting at 75.59m. Hole TC21-05 Intersected 0.29g/t gold over 60.91m starting at 41.50m, including 0.56 g/t over 24.07m from 78.34m, which also included 4.23 g/t over 0.99m from 101.42m, which was the last meter of the drill hole.
Recently announced assays from Holes TC21-02 and 03 indicate wide zones of near surface gold mineralization are present at Tin Cup. The results from Hole21-03 have been slightly upgraded.
Northern Lights has permits in place to drill 3 additional holes and plans to apply for further drill-hole permits following the analysis of these first 4 holes. The company is also planning to complete a deep penetrating IP survey over the claim area covering the Tin Cup and FM zones. This survey will explore to depths of ~400 metres and will assist in defining new drill targets associated with zones of high chargeability located along strike and to depth.
The gold mineralization at Tin Cup is open at depth and has not yet been tested below an average depth of 95 metres. The focus of this initial drill program is to confirm the gold mineralization previously identified by reverse circulation drilling in the 1980s and to provide additional geological information on the style of gold mineralization.
The shares are trading at $0.035. For more information, please visit the company's website, www.NorthernLightsResources.com , contact Rick Timcke, President, at 604-608-6163 or email RTimcke@NorthernLightsResources.com , or contact Jason Bahnsen, CEO, at 604-608-6163 or email jason@NorthernLightsResources.com . For Investor Relations, contact Shawn Balaghi, at 604-773-0242 or email shawn@NorthernLightsResources.com .
Disclaimer
The information in this Investmentpitch Media Ltd video is for the viewers information only. Northern Lights has paid a fee not exceeding $2,000 in cash to have its current news release produced in video format. The corporate information is based on information that is publicly available. Any information provided by Investmentpitch Media Ltd., through its media services is not to be construed as a recommendation or suggestion or offer to buy or sell securities but is provided solely as an informational media service. Investmentpitch Media Ltd makes no warranties or undertakings as to the accuracy or completeness of this information. All due diligence should be done by the viewer or their financial advisor. Investing in securities is speculative and carries risk.
About InvestmentPitch Media
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CONTACT:
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News Provided by GlobeNewswire via QuoteMedia
Kingsmen Resources Ltd. (TSXV: KNG) (OTCQB: KNGRF)("Kingsmen" or the "Company") is pleased to report results from on its continuing exploration program on its 100% owned Las Coloradas project, which is in the Parral mining district of the Central Mexican Silver Belt, Chihuahua Mexico.
President, Scott Emerson, commented: We have now completed exploration over the entire 1.7 km and 1.4 km long Soledad and Soledad II structures with mineralization occurring over the entire strike lengths. This gives us confidence that mineralization continues along strike and at depth of the past producing Las Coloradas mine (300M) and also increases our confidence for our upcoming drill program.
Kingsmen has identified a new target area (DBD) for diamond drilling. This is in addition to the Mine, Aguilar and Leona target areas previously announced. The DBD target covers an area of historic underground artisanal mining between the Mine and Leona zones on the Soledad structure (Figure 1, Figure 2 (enlarged scale) and Table 1). The old underground workings show stopes up to 5 meters wide and 4.0 meters high. Where the mineralized structure rolls and flattens dilatant zones up to 3.0 meters can form. All historic workings have been above the water table (+/- 125 meters). As with all the target areas there has been no drilling to test the mineralization at depth where blind extensions to the mineralized structures, as well as new structures, are likely at depth.
Figure 1
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Figure 2
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There are strong similarities/parallels with the mineralization in the underground Santa Barbara mine where vein systems vary from 3 to 6.5 km along strike and the vertical extension of the shoots have a vertical extension of up to 900 meters.
The Las Coloradas mineralization is on the southeast flank of a prominent aeromagnetic high interpreted to be a buried felsic intrusive body. The felsic intrusives associated with the Soledad and other structures are likely linked to this body and the setting is favourable for porphyry, skarn and epithermal vein mineralization.
Table 1
| Sample | Width (m) | Ag ppm | Au ppm | Cu ppm | Pb ppm | Zn ppm |
| 1 | 1 | 201.98 | 0.205 | 289 | 17080 | 106860 |
| 2 | 0.9 | 90.28 | 0.033 | 38 | 7050 | 1920 |
| 3 | 1.1 | 0.5 | 0.005 | 59.6 | 72 | 125 |
| 4 | 0.8 | 82.3 | 0.021 | 50.7 | 10520 | 20770 |
| 5 | 0.7 | 19.8 | 0.014 | 65.4 | 2370 | 10740 |
| 6 | 0.6 | 2.9 | 0.0025 | 51.9 | 251 | 1140 |
| 7 | 0.6 | 80.8 | 0.126 | 136 | 13200 | 30130 |
| 8 | 0.7 | 54 | 0.064 | 62.9 | 4980 | 12230 |
| 9 | 0.6 | 28.7 | 0.021 | 40.8 | 3430 | 10070 |
| 10 | 0.7 | 268.42 | 0.359 | 88.7 | 41180 | 101060 |
| 11 | 1.2 | 14.9 | 0.062 | 64.1 | 2010 | 2850 |
| 12 | 1.2 | 40.5 | 0.031 | 56.3 | 2550 | 11670 |
| 13 | 1.3 | 21.4 | 0.089 | 47.7 | 2070 | 6510 |
| 14 | 1.2 | 38.1 | 0.012 | 98.1 | 5520 | 16600 |
| 15 | 1 | 33.7 | 0.0025 | 93.2 | 5390 | 13490 |
| 16 | 1.1 | 28.5 | 0.0025 | 69.5 | 6000 | 6460 |
| 17 | 1.3 | 43.6 | 0.206 | 79.1 | 5910 | 37810 |
| 18 | 1.1 | 23.9 | 0.104 | 39.6 | 2670 | 4250 |
| 19 | 0.9 | 15.9 | 0.0025 | 63.8 | 2270 | 1730 |
| 20 | 1.2 | 48 | 0.517 | 33.3 | 1760 | 11730 |
| 21 | 0.8 | 11.4 | 0.006 | 59.6 | 1660 | 3650 |
| 22 | 1.1 | 242.87 | 0.026 | 156 | 44410 | 47880 |
| 23 | 0.7 | 75.4 | 0.241 | 85.4 | 9001 | 37290 |
| 24 | 0.9 | 51.7 | 0.184 | 75.8 | 5760 | 23240 |
| 25 | 1.2 | 13 | 0.032 | 41.2 | 1850 | 3240 |
| 26 | 1.1 | 93.54 | 0.079 | 99 | 19250 | 33790 |
| 27 | 0.9 | 308.16 | 0.241 | 213 | 44790 | 210440 |
| 28 | 0.8 | 198.34 | 0.334 | 51.8 | 49840 | 50720 |
| 29 | 0.9 | 187.48 | 0.726 | 79.3 | 38630 | 66110 |
| 30 | 0.8 | 395.87 | 0.457 | 184 | 45770 | 35310 |
| 31 | 0.8 | 41.5 | 0.139 | 143 | 1320 | 239270 |
| 32 | 0.8 | 30.8 | 0.006 | 39.6 | 7520 | 4180 |
| 33 | 0.7 | 73.2 | 0.073 | 99.8 | 8379 | 37590 |
| 34 | 0.7 | 17 | 0.006 | 56.8 | 1850 | 7020 |
| 35 | 0.5 | 335.23 | 0.267 | 171 | 33140 | 106220 |
| 36 | 1.6 | 41.7 | 0.007 | 42.4 | 7820 | 5620 |
| 37 | 1.4 | 25.8 | 0.032 | 49.7 | 3050 | 11990 |
| 38 | 1.1 | 6.8 | 0.016 | 35.9 | 874 | 1990 |
| 39 | 1.4 | 27.5 | 0.007 | 73.6 | 2550 | 13690 |
| 40 | 1.1 | 7.11 | 0.0025 | 34.5 | 1350 | 1170 |
| 41 | 0.8 | 168.65 | 0.453 | 46.6 | 30770 | 16210 |
All samples were analyzed by ALS Chemex, Chihuahua. All samples were assayed for gold by fire assay with an ICP-AES finish. All samples were also analyzed for 35 elements by aqua regia extraction with ICP-AES finish.
About Las Coloradas
The Las Coloradas Project (8.5 km2 -3.3 sq miles) represents a consolidation of a historic mining district which covers numerous silver-gold-lead-zinc-copper mines previously exploited by ASARCO (American Smelting and Refining Company), the U.S. based subsidiary of Grupo Mexico.
Las Coloradas is in the Parral mining district of the Central Mexican Silver Belt, and is located approximately 30 kilometers southeast of the city of Hidago de Parral and 40 kilometers east of the San Francisco de Oro and Santa Barbara mining districts where several old major mines are located, such as La Prieta, Veta Colorada, Palmilla, Esmeralda, San Francisco del Oro and Santa Barbara. As well, new major mining projects are currently being explored in the district; Cordero (Discovery Silver Corp.), 35 kms north of Parral, and La Cigarra (Kootenay Silver Inc.), 35 kms northwest of Parral. Click here to see locator map, https://www.kingsmenresources.com/area-history
Qualified Person
Kieran Downes, Ph.D., P.Geo., a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical disclosure set out in this news release.
About Kingsmen Resources
Kingsmen Resources is a mineral exploration company focused on advancing its 100% held Las Coloradas Project located in the prolific mining district of Parral Mexico. The project hosts the historic past producing high-grade silver mine, Las Coloradas. It is considered to be prospective for hosting further precious metal deposits, being on the same structural and stratigraphic belts that host numerous other on -trend, high- grade deposits. In addition, the company has a 1% NSR on the Los Ricos North project operated by GoGold Resources Inc. in Mexico. The Company's leaders have extensive experience in the mining and financial sectors. Kingsmen is a publicly-traded company (TSXV: KNG) (OTCQB: KNGRF) and is headquartered in Vancouver, British Columbia.
On behalf of the Board,
Signed: "Scott Emerson" Scott Emerson,
President & CEO Phone: 6046859316
Email: se@kingsmenresources.com
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statement:
All statements, trend analysis and other information contained in this press release about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. All statements, other than statements of historical fact, included herein, including, without limitation, statements regarding the completion of the acquisition of the Las Coloradas Project and receipt of regulatory approval, are forward-looking statements. Although Kingsmen believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since Kingsmen can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in Kingsmen's periodic filings with Canadian securities regulators, and assumptions made with regard to: Kingsmen's ability to make the required payments under the definitive agreements; and Kingsmen's ability to secure the necessary regulatory approvals. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Important factors that could cause actual results to differ materially from Kingsmen's expectations include risks associated with the business of Kingsmen; risks related to the satisfaction or waiver of certain conditions to the closing of the acquisition of the Las Coloradas Project; non-completion of the acquisition of the Las Coloradas Project; risks related to exploration and potential development of the Las Coloradas Project; business and economic conditions in the mining industry generally; fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risk factors as detailed from time to time and additional risks identified in Kingsmen's filings with Canadian securities regulators on SEDAR in Canada (available at www.sedarplus.com). Forward-looking statements are based on estimates and opinions of management at the date the statements are made. Kingsmen does not undertake any obligation to update forward looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.
Anteros Metals (CSE:ANT) is leveraging modern data science methodologies to advance its projects in Newfoundland and Labrador, Canada. The company focuses on sustainable and cost-effective exploration targeting high-value deposits in underexplored yet geologically rich regions. Anteros Metals' portfolio covers 2,775 hectares and commodities essential to global technology and energy transitions.
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New drilling significantly expands the high-grade gold and silver mineralization of the Navidad discovery.
Metallurgical testing demonstrates excellent gold and silver recoveries for Navidad mineralization
First Majestic Silver Corp. (NYSE: AG) (TSX: AG) (FSE: FMV) (the "Company" or "First Majestic") is pleased to provide new results for the Navidad discovery at its Santa Elena SilverGold Mine in Sonora, Mexico that was first announced on July 30, 2024. The drilling completed during the second half of 2024 ("H2") significantly expanded the gold and silver mineralization discovered at the Navidad Target ("Navidad"), and metallurgical testing of the mineralization revealed that gold and silver metal recoveries are excellent.
"The success at Santa Elena continues," stated Keith Neumeyer, President & CEO of First Majestic. "The exploration program at Navidad during H2 successfully expanded the high-grade gold and silver mineralization of the Navidad discovery, extending mineralization closer to the Ermitaño mine infrastructure. We anticipate continued success at Santa Elena during 2025 as we work to grow and define the mineral deposit at Navidad. We are very excited by the potential of this new discovery, which we believe represents a high-quality opportunity to grow the Mineral Resource and Mineral Reserve base both for the Santa Elena operation and for the Company as a whole."
H2 2024 NAVIDAD EXPLORATION HIGHLIGHTS
Drilling of Navidad since the discovery announcement in July 2024, has substantially expanded the footprint of gold ("Au") and silver ("Ag") mineralization. A total of 20,809 metres ("m") of new drilling was completed with 17-holes that have defined extensive mineralization consisting of two epithermal quartz veins with high-grade gold and silver mineralization: the Navidad and Winter veins. The gold and silver mineralization identified to date extends greater than 1,000m by 300m in strike and dip with the true thickness of mineralization averaging between 2.8m and 4.4m. A maiden Inferred Mineral Resource estimate is anticipated to be released in late March.
During 2025, additional drilling from surface is planned to continue testing the potential expansion of Navidad, which remains open in multiple directions. Expansionary and infill resource definition drilling will also take place from multiple new underground drilling stations constructed from the Ermitaño mine. Five drill rigs are currently active at Navidad.
Independent third-party metallurgical testing of Navidad and Winter mineralization under current mineral processing parameters for the Santa Elena processing plant was completed during the fall of 2024. The testing revealed exceptional gold and silver recovery rates with gold recoveries consistently exceeding 90% and silver recoveries exceeding 85%. The results firmly establish that Navidad's mineralization is compatible with the existing processing infrastructure at the Santa Elena operation.
KEY DRILLING HIGHLIGHTS
A summary of high-grade assay results from exploration drilling completed at Navidad during the second half of 2024 is provided in Table 1 and includes the highlighted true-width intervals that follow:
Navidad Mineral Project
Winter Vein Highlights
Hole EW-24-371: 4.30 m at 5.12 g/t Au & 43 g/t Ag
And: 1.22 m at 9.72 g/t Au & 76 g/t Ag
Hole EW-24-372-A: 4.83 m at 8.60 g/t Au & 77 g/t Ag
Hole EW-24-373: 6.06 m at 5.64 g/t Au & 104 g/t Ag
Hole EW-24-377: 3.30 m at 7.09 g/t Au & 1,253 g/t Ag
Hole EW-24-379: 1.72 m at 1.57 g/t Au & 119 g/t Ag
Hole EW-24-380: 3.07 m at 4.27 g/t Au & 57 g/t Ag
Hole EW-24-382: 2.66 m at 13.93 g/t Au & 99 g/t Ag
Hole EW-24-383: 1.38 m at 0.42 g/t Au & 1,064 g/t Ag
And: 1.26 m at 0.32 g/t Au & 461 g/t Ag
Hole EW-24-384: 1.59 m at 6.40 g/t Au & 110 g/t Ag
And: 1.04 m at 5.62 g/t Au & 46 g/t Ag
Hole EWUG-24-035: 5.62 m at 2.89 g/t Au & 50 g/t Ag
Navidad Vein Highlights
Hole EW-24-372-A: 3.24 m at 13.06 g/t Au & 205 g/t Ag
Hole EW-24-374: 2.63 m at 0.54 g/t Au & 221 g/t Ag
Hole EW-24-377: 1.59 m at 1.60 g/t Au & 135 g/t Ag
Hole EW-24-379: 2.32 m at 7.09 g/t Au & 38 g/t Ag
Hole EW-24-380: 1.27 m at 2.08 g/t Au & 120 g/t Ag
Hole EW-24-381: 1.69 m at 0.92 g/t Au & 128 g/t Ag
And: 1.03 m at 1.19 g/t Au & 144 g/t Ag
Hole EW-24-384: 2.58 m at 1.44 g/t Au & 139 g/t Ag
And: 1.35 m at 2.90 g/t Au & 354 g/t Ag
Hole EW-24-386: 1.18 m at 2.82 g/t Au & 118 g/t Ag
Hole EWUG-24-035: 4.78 m at 1.36 g/t Au & 115 g/t Ag
DISTRICT EXPLORATION APPROACH
Exploration for gold and silver mineral deposits at Santa Elena is guided by a newly developed understanding of the rocks most likely to host mineralized veins within the volcanic stratigraphy as well as by the timing of mineralizing events in the district. Detailed mapping, geologic interpretation and geochronological studies have led the exploration team to recognize that Santa Elena and Ermitaño-style mineral deposits formed in favorable host-rocks that are concealed beneath extensive regions of overlying volcanic rocks. Drilling beneath the overlying volcanic rocks and other post-mineral volcanic rocks in 2024 has confirmed the favorable host-rock concept and led to the discovery of the Navidad Target (Figure 1). For 2024, a total of 58,311m of exploration drilling was completed on the Santa Elena property, a 21% increase compared to 2023.
Figure 1: Santa Elena Property 2024 Schematic Map of the Navidad Target Area. Plan View.
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Navidad Target
As a result of H2 drilling, the Navidad discovery location has been confirmed to occur approximately 100m southwest and 350m below the Ermitaño underground mine levels, significantly closer than what the Company had previously stated, which was 500m southwest and 750m below the mine levels. Drilling is ongoing with 20,809m completed in 17 drill holes during the second half of 2024 for a total of 31,500m in this target area during 2024. The drilling significantly expanded the known mineralization and delineated two quartz veins that possess high-grade gold and silver mineralization: the Navidad and Winter veins. The epithermal vein deposits consist of grey to pink, banded quartz and quartz vein stockwork that contain visible silver sulphides and locally visible native gold grains, both detectable by handheld X-Ray Florescence Analyzer (Figure 2 and Figure 3).
The Winter vein occurs approximately 180m structurally above and sub-parallel to the underlying Navidad vein; both veins are surrounded by quartz stockwork (Figure 4). Significant gold and silver mineralization intersected within the Winter vein currently extends 600m by 350m along strike and dip and the mineralization ranges from 0.65m to 6.6m in thickness (Figure 5). Mineralization intersected to date within the Navidad vein extends 1,000m by 300m along strike and dip and the mineralization ranges from 0.5m to 5.0m in thickness (Figure 6).
Independent third-party metallurgical tests demonstrate robust gold and silver recovery rates for the Navidad and Winter mineralization, exceeding 90% and 85%, respectively. These results confirm each vein's compatibility with Santa Elena's existing processing facility. Initial grindability tests indicate the material is slightly softer than Ermitaño's mineralization, potentially enabling increased plant throughput.
During 2025, the drilling will explore for expansion of the Navidad/Winter mineralization from surface. The full extent of the gold and silver vein system is not yet known, and the potential to expand the mineralization remains open in several directions. Extensive infill resource definition drilling will also be completed primarily from new underground drilling stations within the Ermitaño mine.
Figure 2: Core Photography of the Winter Vein with High-Grade Gold and Silver Mineralization detected by XRF Analyzer.
Hole EW-24-373 Assay Results: 6.06 m at 5.64 g/t Au and 104 g/t Ag.
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Figure 3: Core Photography of the Navidad Vein with High-Grade Gold and Silver Mineralization detected by XRF Analyzer.
Hole EW-24-372A Assay Results: 3.24 m at 13.06 g/t Au and 206 g/t Ag.
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Figure 4: Navidad Vein System Detail. Winter and Navidad veins. (A) Vertical Cross-Section of Navidad and Winter Veins looking East. (B) Plan View of Navidad and Winter Veins. (C) Long-Section looking Southeast. Full Projection.
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Figure 5: Winter Vein Long Section Looking Northwest with Significant Intercepts.
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Figure 6: Navidad Vein Long Section Looking Northwest with Significant Intercepts
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Table 1: Summary of Significant Gold and Silver Drill Hole Intercepts at Navidad
| Drillhole | Target | Target Type | Significant Intercept | |||||
| From (m) | To (m) | True Length (m) | Au (g/t) | Ag (g/t) | AgEq (g/t) | |||
| EW-24-371 | Winter Vein | Resource addition | 874.40 | 879.15 | 4.30 | 5.12 | 43 | 479 |
| EW-24-371 | Include 1 | Resource addition | 875.95 | 876.55 | 0.54 | 17.80 | 130 | 1643 |
| EW-24-371 | Winter Vein | Resource addition | 880.75 | 882.10 | 1.22 | 9.72 | 77 | 903 |
| EW-24-372 | Winter Vein | Resource addition | 941.00 | 944.60 | 2.95 | 10.45 | 82 | 970 |
| EW-24-372 | Include 1 | Resource addition | 941.70 | 944.20 | 2.05 | 13.19 | 104 | 1225 |
| EW-24-372-A | Winter Vein | Resource addition | 941.35 | 946.35 | 4.83 | 8.60 | 77 | 808 |
| EW-24-372-A | Include 1 | Resource addition | 942.60 | 943.45 | 0.82 | 12.90 | 126 | 1223 |
| EW-24-372-A | Include 2 | Resource addition | 943.95 | 944.35 | 0.39 | 12.90 | 95 | 1192 |
| EW-24-372-A | Include 3 | Resource addition | 945.90 | 946.35 | 0.43 | 21.50 | 140 | 1968 |
| EW-24-372-A | Navidad Vein | Resource addition | 1136.05 | 1139.40 | 3.24 | 13.06 | 206 | 1315 |
| EW-24-372-A | Include 1 | Resource addition | 1136.05 | 1137.70 | 1.59 | 18.00 | 250 | 1780 |
| EW-24-372-A | Include 2 | Resource addition | 1138.15 | 1138.80 | 0.63 | 14.40 | 271 | 1495 |
| EW-24-373 | Winter Vein | Resource addition | 942.05 | 948.50 | 6.06 | 5.64 | 104 | 584 |
| EW-24-373 | Include 1 | Resource addition | 946.45 | 947.65 | 1.13 | 13.00 | 286 | 1391 |
| EW-24-374 | Navidad Vein 1 | Resource addition | 1021.10 | 1023.90 | 2.63 | 0.54 | 222 | 268 |
| EW-24-374 | Navidad Vein 2 | Resource addition | 1025.65 | 1026.80 | 1.08 | 1.32 | 83 | 195 |
| EW-24-377 | Winter Vein 1 | Resource addition | 948.25 | 951.60 | 3.30 | 7.09 | 125 | 728 |
| EW-24-377 | Vein | Resource addition | 1068.45 | 1070.70 | 1.29 | 2.11 | 73 | 253 |
| EW-24-377 | Vein | Resource addition | 1194.50 | 1195.85 | 1.33 | 2.04 | 100 | 274 |
| EW-24-377 | Navidad Vein 1 | Resource addition | 1199.15 | 1200.90 | 1.59 | 1.60 | 136 | 272 |
| EW-24-377 | Navidad Vein 2 | Resource addition | 1201.85 | 1203.50 | 1.50 | 0.99 | 61 | 145 |
| EW-24-379 | Vein | Resource addition | 1073.45 | 1075.35 | 1.72 | 1.57 | 119 | 253 |
| EW-24-379 | Vein | Resource addition | 1100.55 | 1101.80 | 1.02 | 2.97 | 13 | 265 |
| EW-24-379 | Navidad Vein | Resource addition | 1115.35 | 1117.75 | 2.32 | 7.09 | 38 | 641 |
| EW-24-379 | Include 1 | Resource addition | 1115.35 | 1115.85 | 0.48 | 20.40 | 36 | 1770 |
| EW-24-380 | Vein | Resource addition | 1018.95 | 1020.25 | 1.18 | 1.50 | 22 | 149 |
| EW-24-380 | Winter Vein | Resource addition | 1026.50 | 1030.05 | 3.07 | 4.27 | 58 | 420 |
| EW-24-380 | Include 1 | Resource addition | 1026.85 | 1027.60 | 0.65 | 11.20 | 155 | 1107 |
| EW-24-380 | Navidad Vein | Resource addition | 1182.10 | 1183.65 | 1.27 | 2.08 | 120 | 297 |
| EW-24-381 | Navidad Vein 1 | Resource addition | 1326.35 | 1328.15 | 1.69 | 0.92 | 129 | 206 |
| EW-24-381 | Navidad Vein 2 | Resource addition | 1329.90 | 1331.00 | 1.03 | 1.19 | 145 | 246 |
| EW-24-382 | Winter Vein | Resource addition | 938.90 | 941.65 | 2.66 | 13.93 | 99 | 1283 |
| EW-24-382 | Include 1 | Resource addition | 939.55 | 941.65 | 2.03 | 15.97 | 112 | 1469 |
| EW-24-382 | Vein | Resource addition | 1133.95 | 1135.10 | 1.08 | 2.52 | 8 | 222 |
| EW-24-383 | Vnlts | Resource addition | 1072.20 | 1074.40 | 1.10 | 1.86 | 9 | 167 |
| EW-24-383 | Vnlts | Resource addition | 1122.35 | 1124.00 | 1.26 | 0.32 | 462 | 489 |
| EW-24-383 | Vnlts | Resource addition | 1137.30 | 1139.45 | 1.38 | 0.42 | 1064 | 1100 |
| EW-24-383 | Include 1 | Resource addition | 1138.40 | 1138.70 | 0.19 | 2.00 | 6369 | 6539 |
| EW-24-384 | Winter Vein | Resource addition | 1030.50 | 1032.15 | 1.59 | 6.40 | 111 | 655 |
| EW-24-384 | Vein | Resource addition | 1041.55 | 1042.75 | 1.04 | 5.62 | 47 | 524 |
| EW-24-384 | Vnlts | Resource addition | 1244.65 | 1245.85 | 1.13 | 1.08 | 73 | 165 |
| EW-24-384 | Vnlts | Resource addition | 1284.15 | 1285.90 | 1.64 | 1.52 | 109 | 238 |
| EW-24-384 | Navidad Vein 1 | Resource addition | 1290.55 | 1293.40 | 2.58 | 1.44 | 140 | 262 |
| EW-24-384 | Navidad Vein 2 | Resource addition | 1297.45 | 1299.10 | 1.35 | 2.90 | 354 | 601 |
| EW-24-386 | Vnlts | Resource addition | 1091.00 | 1092.45 | 1.31 | 2.73 | 331 | 564 |
| EW-24-386 | Vein | Resource addition | 1095.05 | 1097.45 | 1.01 | 1.52 | 175 | 305 |
| EW-24-386 | Navidad Vein | Resource addition | 1100.35 | 1101.65 | 1.18 | 2.82 | 119 | 359 |
| EW-24-386 | Vnlts | Resource addition | 1107.60 | 1109.40 | 1.56 | 0.95 | 94 | 175 |
| EWUG-24-035 | Winter Vein | Resource addition | 578.70 | 584.90 | 5.62 | 2.89 | 50 | 296 |
| EWUG-24-035 | Vnlts | Resource addition | 883.35 | 884.40 | 1.01 | 3.18 | 36 | 307 |
| EWUG-24-035 | Include 1 | Resource addition | 883.35 | 883.75 | 0.39 | 6.10 | 523 | 1042 |
| EWUG-24-035 | Navidad Vein | Resource addition | 885.70 | 890.65 | 4.78 | 1.36 | 115 | 230 |
| EWUG-24-035 | Vein | Resource addition | 900.30 | 902.55 | 1.95 | 1.71 | 175 | 321 |
Notes:
First Majestic's drilling programs follow established Quality Assurance, Quality Control ("QA/QC") insertion protocols with standards, blanks, and duplicates introduced into the sample-stream. After geological logging, all drill core samples are cut in half. One half of the core is submitted to the laboratory for analysis and the remaining half core is retained on-site for verification and reference purposes or for future metallurgical testing.
Core samples were submitted to the SGS laboratory (ISO/IEC 17025:2017). At SGS, gold is analyzed by 30g or 50g fire assay atomic absorption finish (GE-FAA30V5, GE-FAA50V5). Results above 10 g/t gold are analyzed by 30 g or 50g fire assay gravimetric finish (GO-FAG30V, GO-FAG50V). Silver is analyzed by 3-acid digest atomic absorption finish (GE-AAS33E50). Results above 100 g/t silver are analyzed by 30g or 50g fire assay gravimetric finish (GO-FAG37V, GO-FAG57V).
Core samples from the Navidad and Winter deposits were subjected to bottle roll cyanidation tests at the SGS laboratory (ISO/IEC 17025:2017) under conditions replicating those of the Santa Elena Unit processing plant, including the 40 µm HIGmill product target. The methods used to analyze the products of these tests were GE_FAA3OV5, GE_AAS33E50, GL_AA582T.
For further information concerning QA/QC and data verification matters, key assumptions, parameters, and methods used by the Company to estimate Mineral Reserves and Mineral Resources, and for a detailed description of known legal, political, environmental, and other risks that could materially affect the Company's business and the potential development of Mineral Reserves and Mineral Resources, see the Company's most recently filed Annual Information Form available under the Company's SEDAR+ profile at www.sedarplus.ca and the Company's Annual Report on Form 40-F for the year ended December 31, 2023 filed with the United States Securities and Exchange Commission on EDGAR at www.sec.gov/edgar.
QUALIFIED PERSONS
Gonzalo Mercado, P. Geo., the Company's Vice President of Exploration and Technical Services and a "Qualified Person" as defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"), has reviewed and approved the scientific and technical information contained in this news release. Mr. Mercado has verified the exploration data contained in this news release, including the sampling, analytical and test data underlying such information.
Michael Deal, the Company's Vice President of Metallurgy and Innovation, and a "Qualified Person" as defined under NI 43-101, has reviewed and approved the scientific and technical information contained in this news release related to metallurgical testing.
ABOUT FIRST MAJESTIC
First Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States. The Company presently owns and operates four producing underground mines in Mexico: the Cerro Los Gatos Silver Mine (the Company holds a 70% interest in the Los Gatos Joint Venture that owns and operates the mine), the Santa Elena Silver/Gold Mine, the San Dimas Silver/Gold Mine, and the La Encantada Silver Mine, as well as a portfolio of development and exploration assets, including the Jerritt Canyon Gold project located in northeastern Nevada, U.S.A.
First Majestic is proud to own and operate its own minting facility, First Mint, LLC, and to offer a portion of its silver production for sale to the public. Bars, ingots, coins and medallions are available for purchase online at www.firstmint.com, at some of the lowest premiums available.
For further information, contact info@firstmajestic.com visit our website at www.firstmajestic.com or call our toll-free number 1.866.529.2807.
FIRST MAJESTIC SILVER CORP.
"signed"
Keith Neumeyer, President & CEO
Cautionary Note Regarding Forward Looking Statements
This news release contains "forward‐looking information" and "forward-looking statements" under applicable Canadian and U.S. securities laws (collectively, "forward‐looking statements"). These statements relate to future events or the Company's future performance, business prospects or opportunities that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management made in light of management's experience and perception of historical trends. Assumptions may prove to be incorrect and actual results and future events may differ materially from those anticipated. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "forecast", "potential", "target", "intend", "could", "might", "should", "believe" and similar expressions) are not statements of historical fact and may be "forward‐looking statements".
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results to materially differ from those expressed or implied by such forward-looking statements, including but not limited to: material adverse changes, unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts with the company to perform as agreed; social or labour unrest; changes in commodity prices; and the failure of exploration programs or studies to deliver anticipated results or results that would justify and support continued exploration, studies, development or operations. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.
The Company believes that the expectations reflected in these forward‐looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking statements included herein should not be unduly relied upon. These statements speak only as of the date hereof. The Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws.
Cautionary Note to United States Investors
The Company is a "foreign private issuer" as defined in Rule 3b-4 under the United States Securities Exchange Act of 1934, as amended, and is eligible to rely upon the Canada-U.S. Multi-Jurisdictional Disclosure System, and is therefore permitted to prepare the technical information contained herein in accordance with the requirements of the securities laws in effect in Canada, which differ from the requirements of the securities laws currently in effect in the United States. Accordingly, information concerning mineral deposits set forth herein may not be comparable with information made public by companies that report in accordance with U.S. standards.
Technical disclosure contained in this news release has not been prepared in accordance with the requirements of United States securities laws and uses terms that comply with reporting standards in Canada with certain estimates prepared in accordance with NI 43-101.
NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning the issuer's material mineral projects.
APPENDIX - DRILL HOLE DETAILS
Table A1: Drill Hole Collar Location, Sample Type, Azimuth, Dip and Total Depth
| Drillhole | East | North | Elev | Azimuth | Dip | Depth (m) | Type |
| EW-24-371 | 582,914 | 3,319,502 | 916 | 154 | -59 | 981 | Core |
| EW-24-372 | 583,223 | 3,319,712 | 870 | 167 | -59 | 1116 | Core |
| EW-24-372-A | 583,223 | 3,319,712 | 870 | 167 | -59 | 1200 | Core |
| EW-24-373 | 583,418 | 3,319,715 | 871 | 166 | -59 | 1167 | Core |
| EW-24-374 | 582,900 | 3,319,430 | 915 | 166 | -61 | 1251 | Core |
| EW-24-375 | 586,106 | 3,319,444 | 969 | 211 | -66 | 813 | Core |
| EW-24-376 | 583,101 | 3,319,903 | 886 | 164 | -55 | 1500 | Core |
| EW-24-377 | 583,418 | 3,319,714 | 871 | 169 | -57 | 1287 | Core |
| EW-24-378 | 583,217 | 3,319,698 | 870 | 168 | -50 | 1272 | Core |
| EW-24-379 | 582,983 | 3,319,624 | 898 | 152 | -56 | 1206 | Core |
| EW-24-380 | 583,232 | 3,319,766 | 877 | 166 | -58 | 1394 | Core |
| EW-24-381 | 583,142 | 3,319,925 | 883 | 161 | -57 | 1379 | Core |
| EW-24-382 | 583,223 | 3,319,711 | 870 | 166 | -55 | 1368 | Core |
| EW-24-383 | 583,216 | 3,319,699 | 870 | 169 | -53 | 1378 | Core |
| EW-24-384 | 583,100 | 3,319,903 | 886 | 170 | -53 | 1392 | Core |
| EW-24-385 | 582,542 | 3,319,139 | 873 | 153 | -58 | 1326 | Core |
| EW-24-386 | 582,982 | 3,319,623 | 898 | 158 | -59 | 1193 | Core |
| EWUG-24-035 | 583,638 | 3,319,413 | 603 | 178 | -70 | 930 | Core |
Notes:
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New drilling significantly expands the high-grade gold and silver mineralization of the Navidad discovery.
Metallurgical testing demonstrates excellent gold and silver recoveries for Navidad mineralization
First Majestic Silver Corp. (NYSE: AG) (TSX: AG) (FSE: FMV) (the "Company" or "First Majestic") is pleased to provide new results for the Navidad discovery at its Santa Elena SilverGold Mine in Sonora, Mexico that was first announced on July 30, 2024. The drilling completed during the second half of 2024 ("H2") significantly expanded the gold and silver mineralization discovered at the Navidad Target ("Navidad"), and metallurgical testing of the mineralization revealed that gold and silver metal recoveries are excellent.
"The success at Santa Elena continues," stated Keith Neumeyer, President & CEO of First Majestic. "The exploration program at Navidad during H2 successfully expanded the high-grade gold and silver mineralization of the Navidad discovery, extending mineralization closer to the Ermitaño mine infrastructure. We anticipate continued success at Santa Elena during 2025 as we work to grow and define the mineral deposit at Navidad. We are very excited by the potential of this new discovery, which we believe represents a high-quality opportunity to grow the Mineral Resource and Mineral Reserve base both for the Santa Elena operation and for the Company as a whole."
H2 2024 NAVIDAD EXPLORATION HIGHLIGHTS
Drilling of Navidad since the discovery announcement in July 2024, has substantially expanded the footprint of gold ("Au") and silver ("Ag") mineralization. A total of 20,809 metres ("m") of new drilling was completed with 17-holes that have defined extensive mineralization consisting of two epithermal quartz veins with high-grade gold and silver mineralization: the Navidad and Winter veins. The gold and silver mineralization identified to date extends greater than 1,000m by 300m in strike and dip with the true thickness of mineralization averaging between 2.8m and 4.4m. A maiden Inferred Mineral Resource estimate is anticipated to be released in late March.
During 2025, additional drilling from surface is planned to continue testing the potential expansion of Navidad, which remains open in multiple directions. Expansionary and infill resource definition drilling will also take place from multiple new underground drilling stations constructed from the Ermitaño mine. Five drill rigs are currently active at Navidad.
Independent third-party metallurgical testing of Navidad and Winter mineralization under current mineral processing parameters for the Santa Elena processing plant was completed during the fall of 2024. The testing revealed exceptional gold and silver recovery rates with gold recoveries consistently exceeding 90% and silver recoveries exceeding 85%. The results firmly establish that Navidad's mineralization is compatible with the existing processing infrastructure at the Santa Elena operation.
KEY DRILLING HIGHLIGHTS
A summary of high-grade assay results from exploration drilling completed at Navidad during the second half of 2024 is provided in Table 1 and includes the highlighted true-width intervals that follow:
Navidad Mineral Project
Winter Vein Highlights
Hole EW-24-371: 4.30 m at 5.12 g/t Au & 43 g/t Ag
And: 1.22 m at 9.72 g/t Au & 76 g/t Ag
Hole EW-24-372-A: 4.83 m at 8.60 g/t Au & 77 g/t Ag
Hole EW-24-373: 6.06 m at 5.64 g/t Au & 104 g/t Ag
Hole EW-24-377: 3.30 m at 7.09 g/t Au & 1,253 g/t Ag
Hole EW-24-379: 1.72 m at 1.57 g/t Au & 119 g/t Ag
Hole EW-24-380: 3.07 m at 4.27 g/t Au & 57 g/t Ag
Hole EW-24-382: 2.66 m at 13.93 g/t Au & 99 g/t Ag
Hole EW-24-383: 1.38 m at 0.42 g/t Au & 1,064 g/t Ag
And: 1.26 m at 0.32 g/t Au & 461 g/t Ag
Hole EW-24-384: 1.59 m at 6.40 g/t Au & 110 g/t Ag
And: 1.04 m at 5.62 g/t Au & 46 g/t Ag
Hole EWUG-24-035: 5.62 m at 2.89 g/t Au & 50 g/t Ag
Navidad Vein Highlights
Hole EW-24-372-A: 3.24 m at 13.06 g/t Au & 205 g/t Ag
Hole EW-24-374: 2.63 m at 0.54 g/t Au & 221 g/t Ag
Hole EW-24-377: 1.59 m at 1.60 g/t Au & 135 g/t Ag
Hole EW-24-379: 2.32 m at 7.09 g/t Au & 38 g/t Ag
Hole EW-24-380: 1.27 m at 2.08 g/t Au & 120 g/t Ag
Hole EW-24-381: 1.69 m at 0.92 g/t Au & 128 g/t Ag
And: 1.03 m at 1.19 g/t Au & 144 g/t Ag
Hole EW-24-384: 2.58 m at 1.44 g/t Au & 139 g/t Ag
And: 1.35 m at 2.90 g/t Au & 354 g/t Ag
Hole EW-24-386: 1.18 m at 2.82 g/t Au & 118 g/t Ag
Hole EWUG-24-035: 4.78 m at 1.36 g/t Au & 115 g/t Ag
DISTRICT EXPLORATION APPROACH
Exploration for gold and silver mineral deposits at Santa Elena is guided by a newly developed understanding of the rocks most likely to host mineralized veins within the volcanic stratigraphy as well as by the timing of mineralizing events in the district. Detailed mapping, geologic interpretation and geochronological studies have led the exploration team to recognize that Santa Elena and Ermitaño-style mineral deposits formed in favorable host-rocks that are concealed beneath extensive regions of overlying volcanic rocks. Drilling beneath the overlying volcanic rocks and other post-mineral volcanic rocks in 2024 has confirmed the favorable host-rock concept and led to the discovery of the Navidad Target (Figure 1). For 2024, a total of 58,311m of exploration drilling was completed on the Santa Elena property, a 21% increase compared to 2023.
Figure 1: Santa Elena Property 2024 Schematic Map of the Navidad Target Area. Plan View.
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Navidad Target
As a result of H2 drilling, the Navidad discovery location has been confirmed to occur approximately 100m southwest and 350m below the Ermitaño underground mine levels, significantly closer than what the Company had previously stated, which was 500m southwest and 750m below the mine levels. Drilling is ongoing with 20,809m completed in 17 drill holes during the second half of 2024 for a total of 31,500m in this target area during 2024. The drilling significantly expanded the known mineralization and delineated two quartz veins that possess high-grade gold and silver mineralization: the Navidad and Winter veins. The epithermal vein deposits consist of grey to pink, banded quartz and quartz vein stockwork that contain visible silver sulphides and locally visible native gold grains, both detectable by handheld X-Ray Florescence Analyzer (Figure 2 and Figure 3).
The Winter vein occurs approximately 180m structurally above and sub-parallel to the underlying Navidad vein; both veins are surrounded by quartz stockwork (Figure 4). Significant gold and silver mineralization intersected within the Winter vein currently extends 600m by 350m along strike and dip and the mineralization ranges from 0.65m to 6.6m in thickness (Figure 5). Mineralization intersected to date within the Navidad vein extends 1,000m by 300m along strike and dip and the mineralization ranges from 0.5m to 5.0m in thickness (Figure 6).
Independent third-party metallurgical tests demonstrate robust gold and silver recovery rates for the Navidad and Winter mineralization, exceeding 90% and 85%, respectively. These results confirm each vein's compatibility with Santa Elena's existing processing facility. Initial grindability tests indicate the material is slightly softer than Ermitaño's mineralization, potentially enabling increased plant throughput.
During 2025, the drilling will explore for expansion of the Navidad/Winter mineralization from surface. The full extent of the gold and silver vein system is not yet known, and the potential to expand the mineralization remains open in several directions. Extensive infill resource definition drilling will also be completed primarily from new underground drilling stations within the Ermitaño mine.
Figure 2: Core Photography of the Winter Vein with High-Grade Gold and Silver Mineralization detected by XRF Analyzer.
Hole EW-24-373 Assay Results: 6.06 m at 5.64 g/t Au and 104 g/t Ag.
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Figure 3: Core Photography of the Navidad Vein with High-Grade Gold and Silver Mineralization detected by XRF Analyzer.
Hole EW-24-372A Assay Results: 3.24 m at 13.06 g/t Au and 206 g/t Ag.
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Figure 4: Navidad Vein System Detail. Winter and Navidad veins. (A) Vertical Cross-Section of Navidad and Winter Veins looking East. (B) Plan View of Navidad and Winter Veins. (C) Long-Section looking Southeast. Full Projection.
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Figure 5: Winter Vein Long Section Looking Northwest with Significant Intercepts.
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Figure 6: Navidad Vein Long Section Looking Northwest with Significant Intercepts
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Table 1: Summary of Significant Gold and Silver Drill Hole Intercepts at Navidad
| Drillhole | Target | Target Type | Significant Intercept | |||||
| From (m) | To (m) | True Length (m) | Au (g/t) | Ag (g/t) | AgEq (g/t) | |||
| EW-24-371 | Winter Vein | Resource addition | 874.40 | 879.15 | 4.30 | 5.12 | 43 | 479 |
| EW-24-371 | Include 1 | Resource addition | 875.95 | 876.55 | 0.54 | 17.80 | 130 | 1643 |
| EW-24-371 | Winter Vein | Resource addition | 880.75 | 882.10 | 1.22 | 9.72 | 77 | 903 |
| EW-24-372 | Winter Vein | Resource addition | 941.00 | 944.60 | 2.95 | 10.45 | 82 | 970 |
| EW-24-372 | Include 1 | Resource addition | 941.70 | 944.20 | 2.05 | 13.19 | 104 | 1225 |
| EW-24-372-A | Winter Vein | Resource addition | 941.35 | 946.35 | 4.83 | 8.60 | 77 | 808 |
| EW-24-372-A | Include 1 | Resource addition | 942.60 | 943.45 | 0.82 | 12.90 | 126 | 1223 |
| EW-24-372-A | Include 2 | Resource addition | 943.95 | 944.35 | 0.39 | 12.90 | 95 | 1192 |
| EW-24-372-A | Include 3 | Resource addition | 945.90 | 946.35 | 0.43 | 21.50 | 140 | 1968 |
| EW-24-372-A | Navidad Vein | Resource addition | 1136.05 | 1139.40 | 3.24 | 13.06 | 206 | 1315 |
| EW-24-372-A | Include 1 | Resource addition | 1136.05 | 1137.70 | 1.59 | 18.00 | 250 | 1780 |
| EW-24-372-A | Include 2 | Resource addition | 1138.15 | 1138.80 | 0.63 | 14.40 | 271 | 1495 |
| EW-24-373 | Winter Vein | Resource addition | 942.05 | 948.50 | 6.06 | 5.64 | 104 | 584 |
| EW-24-373 | Include 1 | Resource addition | 946.45 | 947.65 | 1.13 | 13.00 | 286 | 1391 |
| EW-24-374 | Navidad Vein 1 | Resource addition | 1021.10 | 1023.90 | 2.63 | 0.54 | 222 | 268 |
| EW-24-374 | Navidad Vein 2 | Resource addition | 1025.65 | 1026.80 | 1.08 | 1.32 | 83 | 195 |
| EW-24-377 | Winter Vein 1 | Resource addition | 948.25 | 951.60 | 3.30 | 7.09 | 125 | 728 |
| EW-24-377 | Vein | Resource addition | 1068.45 | 1070.70 | 1.29 | 2.11 | 73 | 253 |
| EW-24-377 | Vein | Resource addition | 1194.50 | 1195.85 | 1.33 | 2.04 | 100 | 274 |
| EW-24-377 | Navidad Vein 1 | Resource addition | 1199.15 | 1200.90 | 1.59 | 1.60 | 136 | 272 |
| EW-24-377 | Navidad Vein 2 | Resource addition | 1201.85 | 1203.50 | 1.50 | 0.99 | 61 | 145 |
| EW-24-379 | Vein | Resource addition | 1073.45 | 1075.35 | 1.72 | 1.57 | 119 | 253 |
| EW-24-379 | Vein | Resource addition | 1100.55 | 1101.80 | 1.02 | 2.97 | 13 | 265 |
| EW-24-379 | Navidad Vein | Resource addition | 1115.35 | 1117.75 | 2.32 | 7.09 | 38 | 641 |
| EW-24-379 | Include 1 | Resource addition | 1115.35 | 1115.85 | 0.48 | 20.40 | 36 | 1770 |
| EW-24-380 | Vein | Resource addition | 1018.95 | 1020.25 | 1.18 | 1.50 | 22 | 149 |
| EW-24-380 | Winter Vein | Resource addition | 1026.50 | 1030.05 | 3.07 | 4.27 | 58 | 420 |
| EW-24-380 | Include 1 | Resource addition | 1026.85 | 1027.60 | 0.65 | 11.20 | 155 | 1107 |
| EW-24-380 | Navidad Vein | Resource addition | 1182.10 | 1183.65 | 1.27 | 2.08 | 120 | 297 |
| EW-24-381 | Navidad Vein 1 | Resource addition | 1326.35 | 1328.15 | 1.69 | 0.92 | 129 | 206 |
| EW-24-381 | Navidad Vein 2 | Resource addition | 1329.90 | 1331.00 | 1.03 | 1.19 | 145 | 246 |
| EW-24-382 | Winter Vein | Resource addition | 938.90 | 941.65 | 2.66 | 13.93 | 99 | 1283 |
| EW-24-382 | Include 1 | Resource addition | 939.55 | 941.65 | 2.03 | 15.97 | 112 | 1469 |
| EW-24-382 | Vein | Resource addition | 1133.95 | 1135.10 | 1.08 | 2.52 | 8 | 222 |
| EW-24-383 | Vnlts | Resource addition | 1072.20 | 1074.40 | 1.10 | 1.86 | 9 | 167 |
| EW-24-383 | Vnlts | Resource addition | 1122.35 | 1124.00 | 1.26 | 0.32 | 462 | 489 |
| EW-24-383 | Vnlts | Resource addition | 1137.30 | 1139.45 | 1.38 | 0.42 | 1064 | 1100 |
| EW-24-383 | Include 1 | Resource addition | 1138.40 | 1138.70 | 0.19 | 2.00 | 6369 | 6539 |
| EW-24-384 | Winter Vein | Resource addition | 1030.50 | 1032.15 | 1.59 | 6.40 | 111 | 655 |
| EW-24-384 | Vein | Resource addition | 1041.55 | 1042.75 | 1.04 | 5.62 | 47 | 524 |
| EW-24-384 | Vnlts | Resource addition | 1244.65 | 1245.85 | 1.13 | 1.08 | 73 | 165 |
| EW-24-384 | Vnlts | Resource addition | 1284.15 | 1285.90 | 1.64 | 1.52 | 109 | 238 |
| EW-24-384 | Navidad Vein 1 | Resource addition | 1290.55 | 1293.40 | 2.58 | 1.44 | 140 | 262 |
| EW-24-384 | Navidad Vein 2 | Resource addition | 1297.45 | 1299.10 | 1.35 | 2.90 | 354 | 601 |
| EW-24-386 | Vnlts | Resource addition | 1091.00 | 1092.45 | 1.31 | 2.73 | 331 | 564 |
| EW-24-386 | Vein | Resource addition | 1095.05 | 1097.45 | 1.01 | 1.52 | 175 | 305 |
| EW-24-386 | Navidad Vein | Resource addition | 1100.35 | 1101.65 | 1.18 | 2.82 | 119 | 359 |
| EW-24-386 | Vnlts | Resource addition | 1107.60 | 1109.40 | 1.56 | 0.95 | 94 | 175 |
| EWUG-24-035 | Winter Vein | Resource addition | 578.70 | 584.90 | 5.62 | 2.89 | 50 | 296 |
| EWUG-24-035 | Vnlts | Resource addition | 883.35 | 884.40 | 1.01 | 3.18 | 36 | 307 |
| EWUG-24-035 | Include 1 | Resource addition | 883.35 | 883.75 | 0.39 | 6.10 | 523 | 1042 |
| EWUG-24-035 | Navidad Vein | Resource addition | 885.70 | 890.65 | 4.78 | 1.36 | 115 | 230 |
| EWUG-24-035 | Vein | Resource addition | 900.30 | 902.55 | 1.95 | 1.71 | 175 | 321 |
Notes:
First Majestic's drilling programs follow established Quality Assurance, Quality Control ("QA/QC") insertion protocols with standards, blanks, and duplicates introduced into the sample-stream. After geological logging, all drill core samples are cut in half. One half of the core is submitted to the laboratory for analysis and the remaining half core is retained on-site for verification and reference purposes or for future metallurgical testing.
Core samples were submitted to the SGS laboratory (ISO/IEC 17025:2017). At SGS, gold is analyzed by 30g or 50g fire assay atomic absorption finish (GE-FAA30V5, GE-FAA50V5). Results above 10 g/t gold are analyzed by 30 g or 50g fire assay gravimetric finish (GO-FAG30V, GO-FAG50V). Silver is analyzed by 3-acid digest atomic absorption finish (GE-AAS33E50). Results above 100 g/t silver are analyzed by 30g or 50g fire assay gravimetric finish (GO-FAG37V, GO-FAG57V).
Core samples from the Navidad and Winter deposits were subjected to bottle roll cyanidation tests at the SGS laboratory (ISO/IEC 17025:2017) under conditions replicating those of the Santa Elena Unit processing plant, including the 40 µm HIGmill product target. The methods used to analyze the products of these tests were GE_FAA3OV5, GE_AAS33E50, GL_AA582T.
For further information concerning QA/QC and data verification matters, key assumptions, parameters, and methods used by the Company to estimate Mineral Reserves and Mineral Resources, and for a detailed description of known legal, political, environmental, and other risks that could materially affect the Company's business and the potential development of Mineral Reserves and Mineral Resources, see the Company's most recently filed Annual Information Form available under the Company's SEDAR+ profile at www.sedarplus.ca and the Company's Annual Report on Form 40-F for the year ended December 31, 2023 filed with the United States Securities and Exchange Commission on EDGAR at www.sec.gov/edgar.
QUALIFIED PERSONS
Gonzalo Mercado, P. Geo., the Company's Vice President of Exploration and Technical Services and a "Qualified Person" as defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"), has reviewed and approved the scientific and technical information contained in this news release. Mr. Mercado has verified the exploration data contained in this news release, including the sampling, analytical and test data underlying such information.
Michael Deal, the Company's Vice President of Metallurgy and Innovation, and a "Qualified Person" as defined under NI 43-101, has reviewed and approved the scientific and technical information contained in this news release related to metallurgical testing.
ABOUT FIRST MAJESTIC
First Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States. The Company presently owns and operates four producing underground mines in Mexico: the Cerro Los Gatos Silver Mine (the Company holds a 70% interest in the Los Gatos Joint Venture that owns and operates the mine), the Santa Elena Silver/Gold Mine, the San Dimas Silver/Gold Mine, and the La Encantada Silver Mine, as well as a portfolio of development and exploration assets, including the Jerritt Canyon Gold project located in northeastern Nevada, U.S.A.
First Majestic is proud to own and operate its own minting facility, First Mint, LLC, and to offer a portion of its silver production for sale to the public. Bars, ingots, coins and medallions are available for purchase online at www.firstmint.com, at some of the lowest premiums available.
For further information, contact info@firstmajestic.com visit our website at www.firstmajestic.com or call our toll-free number 1.866.529.2807.
FIRST MAJESTIC SILVER CORP.
"signed"
Keith Neumeyer, President & CEO
Cautionary Note Regarding Forward Looking Statements
This news release contains "forward‐looking information" and "forward-looking statements" under applicable Canadian and U.S. securities laws (collectively, "forward‐looking statements"). These statements relate to future events or the Company's future performance, business prospects or opportunities that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management made in light of management's experience and perception of historical trends. Assumptions may prove to be incorrect and actual results and future events may differ materially from those anticipated. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "forecast", "potential", "target", "intend", "could", "might", "should", "believe" and similar expressions) are not statements of historical fact and may be "forward‐looking statements".
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results to materially differ from those expressed or implied by such forward-looking statements, including but not limited to: material adverse changes, unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts with the company to perform as agreed; social or labour unrest; changes in commodity prices; and the failure of exploration programs or studies to deliver anticipated results or results that would justify and support continued exploration, studies, development or operations. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.
The Company believes that the expectations reflected in these forward‐looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking statements included herein should not be unduly relied upon. These statements speak only as of the date hereof. The Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws.
Cautionary Note to United States Investors
The Company is a "foreign private issuer" as defined in Rule 3b-4 under the United States Securities Exchange Act of 1934, as amended, and is eligible to rely upon the Canada-U.S. Multi-Jurisdictional Disclosure System, and is therefore permitted to prepare the technical information contained herein in accordance with the requirements of the securities laws in effect in Canada, which differ from the requirements of the securities laws currently in effect in the United States. Accordingly, information concerning mineral deposits set forth herein may not be comparable with information made public by companies that report in accordance with U.S. standards.
Technical disclosure contained in this news release has not been prepared in accordance with the requirements of United States securities laws and uses terms that comply with reporting standards in Canada with certain estimates prepared in accordance with NI 43-101.
NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning the issuer's material mineral projects.
APPENDIX - DRILL HOLE DETAILS
Table A1: Drill Hole Collar Location, Sample Type, Azimuth, Dip and Total Depth
| Drillhole | East | North | Elev | Azimuth | Dip | Depth (m) | Type |
| EW-24-371 | 582,914 | 3,319,502 | 916 | 154 | -59 | 981 | Core |
| EW-24-372 | 583,223 | 3,319,712 | 870 | 167 | -59 | 1116 | Core |
| EW-24-372-A | 583,223 | 3,319,712 | 870 | 167 | -59 | 1200 | Core |
| EW-24-373 | 583,418 | 3,319,715 | 871 | 166 | -59 | 1167 | Core |
| EW-24-374 | 582,900 | 3,319,430 | 915 | 166 | -61 | 1251 | Core |
| EW-24-375 | 586,106 | 3,319,444 | 969 | 211 | -66 | 813 | Core |
| EW-24-376 | 583,101 | 3,319,903 | 886 | 164 | -55 | 1500 | Core |
| EW-24-377 | 583,418 | 3,319,714 | 871 | 169 | -57 | 1287 | Core |
| EW-24-378 | 583,217 | 3,319,698 | 870 | 168 | -50 | 1272 | Core |
| EW-24-379 | 582,983 | 3,319,624 | 898 | 152 | -56 | 1206 | Core |
| EW-24-380 | 583,232 | 3,319,766 | 877 | 166 | -58 | 1394 | Core |
| EW-24-381 | 583,142 | 3,319,925 | 883 | 161 | -57 | 1379 | Core |
| EW-24-382 | 583,223 | 3,319,711 | 870 | 166 | -55 | 1368 | Core |
| EW-24-383 | 583,216 | 3,319,699 | 870 | 169 | -53 | 1378 | Core |
| EW-24-384 | 583,100 | 3,319,903 | 886 | 170 | -53 | 1392 | Core |
| EW-24-385 | 582,542 | 3,319,139 | 873 | 153 | -58 | 1326 | Core |
| EW-24-386 | 582,982 | 3,319,623 | 898 | 158 | -59 | 1193 | Core |
| EWUG-24-035 | 583,638 | 3,319,413 | 603 | 178 | -70 | 930 | Core |
Notes:
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MAG Silver Corp. (TSX NYSE American: MAG) ("MAG" or "MAG Silver") announces the appointment of John Armstrong to the Board of Directors, effective January 31, 2025, as part of MAG's planned Board refreshment.
"We are very pleased to welcome John to our Board," said Peter Barnes, Chair of the Board. "With extensive leadership experience and a strong track record in capital markets, strategic planning and capital allocation, John brings significant value as we continue to advance MAG's strategic priorities. We believe that his broad network within the mining sector coupled with his familiarity with MAG and Juanicipio, will provide valuable insights as we continue to drive the Company forward."
Mr. Barnes added: "John's appointment comes following a comprehensive, externally facilitated search process focussed on a diverse pool of candidates. Our Board is committed to fostering greater diversity, and while we focused on identifying candidates from varied backgrounds, we ultimately selected John because his expertise, leadership and vision aligned perfectly with the strategic direction of the Company."
About John Armstrong
Mr. Armstrong is currently CEO of Versamet Royalties, a private metals royalty and streaming company. Prior to Versamet, he spent many years with BMO Financial Group. Most recently, he held the position of Deputy Head of Investment Banking, BMO Capital Markets where he was responsible for shaping and executing the firm's investment banking strategy across its various industry verticals, and delivering corporate finance (equity underwriting, debt underwriting and corporate lending) and advisory solutions to clients.
John holds a Bachelor of Commerce from the Sauder School of Business at the University of British Columbia and an MBA with Honours from the Rotman School of Management at the University of Toronto.
About MAG Silver Corp. ( www.magsilver.com )
MAG Silver Corp. is a growth-oriented Canadian mining and exploration company focused on advancing high-grade, district scale precious metals projects in the Americas. MAG is a top-tier primary silver mining company through its (44%) joint venture interest in the 4,000 tonnes per day Juanicipio Mine, operated by Fresnillo plc (56%). The mine is located in the Fresnillo Silver Trend in Mexico, the world's premier silver mining camp, where in addition to mining and processing operations, an expanded exploration program is in place targeting multiple highly prospective targets. MAG is also executing multi-phase exploration programs at the 100% earn-in Deer Trail Project in Utah and the 100% owned Larder Project, located in the historically prolific Abitibi region of Canada.
Neither the Toronto Stock Exchange nor the NYSE American has reviewed or accepted responsibility for the accuracy or adequacy of this press release, which has been prepared by management.
This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the US Private Securities Litigation Reform Act of 1995 or "forward-looking information" within the meaning of applicable Canadian securities legislation (collectively, "forward-looking statements") , including statements that address our expectations with respect to the timing of, and changes to, the Company's Board of Directors. All statements in this release, other than statements of historical facts are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements identified herein include, but are not limited to, changes in applicable laws, continued availability of capital and financing, and general economic, market or business conditions, political risk, currency risk and capital cost inflation. In addition, forward-looking statements are subject to various risks, including those risks disclosed in MAG Silver's filings with the Securities Exchange Commission (the "SEC") and Canadian securities regulators. All forward-looking statements contained herein are made as at the date hereof and MAG Silver undertakes no obligation to update the forward-looking statements contained herein. There is no certainty that any forward-looking statement will come to pass, and investors should not place undue reliance upon forward-looking statements.
Please Note: Investors are urged to consider closely the disclosures in MAG's annual and quarterly reports and other public filings, accessible through the internet at www.sedar.com and www.sec.gov .
For further information on behalf of MAG Silver Corp. Contact Fausto Di Trapani, Chief Financial Officer Phone: (604) 630-1399 Toll Free: (866) 630-1399 Website: www.magsilver.com Email: info@magsilver.com
News Provided by GlobeNewswire via QuoteMedia
MAG Silver Corp. (TSX NYSE American: MAG) ("MAG" or "MAG Silver") announces the appointment of John Armstrong to the Board of Directors, effective January 31, 2025, as part of MAG's planned Board refreshment.
"We are very pleased to welcome John to our Board," said Peter Barnes, Chair of the Board. "With extensive leadership experience and a strong track record in capital markets, strategic planning and capital allocation, John brings significant value as we continue to advance MAG's strategic priorities. We believe that his broad network within the mining sector coupled with his familiarity with MAG and Juanicipio, will provide valuable insights as we continue to drive the Company forward."
Mr. Barnes added: "John's appointment comes following a comprehensive, externally facilitated search process focussed on a diverse pool of candidates. Our Board is committed to fostering greater diversity, and while we focused on identifying candidates from varied backgrounds, we ultimately selected John because his expertise, leadership and vision aligned perfectly with the strategic direction of the Company."
About John Armstrong
Mr. Armstrong is currently CEO of Versamet Royalties, a private metals royalty and streaming company. Prior to Versamet, he spent many years with BMO Financial Group. Most recently, he held the position of Deputy Head of Investment Banking, BMO Capital Markets where he was responsible for shaping and executing the firm's investment banking strategy across its various industry verticals, and delivering corporate finance (equity underwriting, debt underwriting and corporate lending) and advisory solutions to clients.
John holds a Bachelor of Commerce from the Sauder School of Business at the University of British Columbia and an MBA with Honours from the Rotman School of Management at the University of Toronto.
About MAG Silver Corp. ( www.magsilver.com )
MAG Silver Corp. is a growth-oriented Canadian mining and exploration company focused on advancing high-grade, district scale precious metals projects in the Americas. MAG is a top-tier primary silver mining company through its (44%) joint venture interest in the 4,000 tonnes per day Juanicipio Mine, operated by Fresnillo plc (56%). The mine is located in the Fresnillo Silver Trend in Mexico, the world's premier silver mining camp, where in addition to mining and processing operations, an expanded exploration program is in place targeting multiple highly prospective targets. MAG is also executing multi-phase exploration programs at the 100% earn-in Deer Trail Project in Utah and the 100% owned Larder Project, located in the historically prolific Abitibi region of Canada.
Neither the Toronto Stock Exchange nor the NYSE American has reviewed or accepted responsibility for the accuracy or adequacy of this press release, which has been prepared by management.
This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the US Private Securities Litigation Reform Act of 1995 or "forward-looking information" within the meaning of applicable Canadian securities legislation (collectively, "forward-looking statements") , including statements that address our expectations with respect to the timing of, and changes to, the Company's Board of Directors. All statements in this release, other than statements of historical facts are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements identified herein include, but are not limited to, changes in applicable laws, continued availability of capital and financing, and general economic, market or business conditions, political risk, currency risk and capital cost inflation. In addition, forward-looking statements are subject to various risks, including those risks disclosed in MAG Silver's filings with the Securities Exchange Commission (the "SEC") and Canadian securities regulators. All forward-looking statements contained herein are made as at the date hereof and MAG Silver undertakes no obligation to update the forward-looking statements contained herein. There is no certainty that any forward-looking statement will come to pass, and investors should not place undue reliance upon forward-looking statements.
Please Note: Investors are urged to consider closely the disclosures in MAG's annual and quarterly reports and other public filings, accessible through the internet at www.sedar.com and www.sec.gov .
For further information on behalf of MAG Silver Corp. Contact Fausto Di Trapani, Chief Financial Officer Phone: (604) 630-1399 Toll Free: (866) 630-1399 Website: www.magsilver.com Email: info@magsilver.com
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