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.
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InvestmentPitch Media leverages the power of video, which together with its extensive distribution, positions a company's story ahead of the 1,000's of companies seeking awareness and funding from the financial community. The company specializes in producing short videos based on significant news releases, research reports and other content of interest to investors.
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HIGHLIGHTS
Managing Director, Todd Williams: “The first nine holes at Karina exceed expectations and confirms the continuity of mineralisation along 300m strike and the potential for further extensions at depth. Notably, hole PR003-24 reported an exceptional individual assay of 2C03gpt silver, validating the shallow high-grade nature of mineralisation. With assays for 42 additional holes still pending and drilling set to scale up in January, shareholders can look forward to a steady stream of results and updates over the next 12 months, including a revised MRE.
Summary
Unico Silver holds 100% of the Cerro Leon and Joaquin silver gold districts located in the central Deseado Massif geological province, Santa Cruz Argentina (Figure 1). The current drill program at Cerro Leon commenced October 2024 and is anticipated to continue through to the end of Q1 2025. It forms part of a broader fully funded 50,000m drill program planned for both projects culminating in a revised MRE late 2025.
Figure 1: Joaquin and Cerro Leon project location
Cerro Leon is strategically located within the same structural corridor that is host to AngloGold Ashanti’s world- class Cerro Vanguardia mine. The Project hosts a JORC compliant Mineral Resource Estimate (MRE) of G1Moz AgEq for 16.5Mt at 172gpt AgEq (Table 3).
During August 2024, announced the acquisition of the Joaquin project from Pan American Silver Corp (PAAS). Joaquin is host to a Foreign Estimate of 73Moz AgEq for 16.7Mt at 136gpt AgEq4 (Table 4). Historical production by PAAS from 2019 to 2022 totals 4.3Moz Ag (Table 5).
Click here for the full ASX Release
This article includes content from Unico Silver Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
First Majestic Silver Corp. (NYSE: AG) (TSX: AG) (FSE: FMV) (the "Company" or "First Majestic") is pleased to announce that it has commenced mailing of its meeting materials for the special meeting of the Company's shareholders (the "Special Meeting") that will be held on Tuesday, January 14, 2025 at 11:00 a.m. (Pacific Time) at the offices of Bennett Jones LLP, located at Suite 2500 - 666 Burrard Street, Vancouver, British Columbia V6C 2X8.
At the Special Meeting, pursuant to the requirements of the rules of the Toronto Stock Exchange and the New York Stock Exchange, First Majestic shareholders will be asked to approve an ordinary resolution (the "Share Issuance Resolution") approving the issuance of up to 190,000,000 common shares of First Majestic ("First Majestic Shares") to stockholders of Gatos Silver, Inc. ("Gatos") in connection with the previously announced acquisition by First Majestic of all of the shares of common stock of Gatos (the "Transaction"). First Majestic's Board of Directors unanimously recommends that the Company's shareholders vote FOR the Share Issuance Resolution.
First Majestic is using the notice and access model ("Notice and Access") as an alternative means of delivery of the meeting materials for the Special Meeting to shareholders in a more environmentally friendly and sustainable way that helps reduce paper usage and our carbon footprint, and that reduces our printing and mailing costs. Under Notice and Access, First Majestic shareholders as of November 25, 2024, being the record date for the Special Meeting (the "Record Date"), will be sent a proxy or voting instruction form, as applicable, enabling them to vote at the Special Meeting. However, instead of receiving a paper copy of the Company's management information circular (the "Information Circular") and notice of meeting (together with the Information Circular, proxy and voting information form, the "Meeting Materials") for the Special Meeting, shareholders will receive a Notice and Access notification letter which contains information on how to access the Meeting Materials electronically.
Shareholders of record as of the Record Date are entitled to vote at the Special Meeting, and they may access electronic versions of the Meeting Materials at www.AGSpecialMeeting.com. The Meeting Materials have also been filed by the Company on SEDAR+ and may be accessed under the Company's SEDAR+ profile at www.sedarplus.com, or by scanning the QR code below with your smartphone or other smart device:
First Majestic has retained Kingsdale Advisors ("Kingsdale") as a Strategic Advisor and to assist in the solicitation of proxies for the Special Meeting. Any shareholders who need assistance with voting their First Majestic Shares may contact Kingsdale by telephone at 1-866-851-3214 (toll-free in North America) or 1-647-577-3635 (text and call enabled outside North America), or by email at contactus@kingsdaleadvisors.com.
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Impact of Canada Post Labour Dispute on the Delivery of Meeting Materials to Canadian Shareholders
Canadian shareholders as of the Record Date should be aware that, due to the ongoing Canada Post labour dispute which is affecting the delivery of mail within Canada, some Canadian shareholders may not receive the Meeting Materials prior to the date of the Special Meeting. This only applies to Canadian shareholders as of the Record Date who have previously requested that physical copies of the Meeting Materials be sent to them. Many of the Company's Canadian shareholders have elected for materials for shareholder meetings to be sent to them by e-mail, so the Canada Post labour dispute will not have any impact on the electronic delivery of the Meeting Materials to such shareholders. Shareholders may request electronic versions of the Meeting Materials be e-mailed to them by contacting Kingsdale by telephone at 1-866-851-3214 (toll-free in North America) or 1-647-577-3635 (text and call enabled outside North America), or by email at contactus@kingsdaleadvisors.com,or by contacting the Company directly at 1-866-529-2807 (toll-free) or info@firstmajestic.com.
If you are a Canadian registered shareholder (i.e., you hold your First Majestic Shares in the form of a physical share certificate, or your shares are represented by a DRS Advice Statement), and you did not receive a form of proxy with your control number, the Company strongly encourages you to contact Computershare Investor Services Inc. at 1-800-564-6253 (toll-free in North America) or +1-514-982-7555 (international) to request the control number for each of your registered shareholdings. Once you have obtained your control number(s), you can vote the First Majestic Shares represented by such control number(s) at www.investorvote.com.
If you are a Canadian beneficial shareholder (i.e., you hold your First Majestic Shares with one or more financial institutions or brokers, for example RBC Direct Investing, TD Direct Investing, BMO Direct Investing, Scotia iTRADE, Wealthsimple, Haywood Securities, Canaccord Genuity, Raymond James, Ventum Financial etc.), and you did not receive a voting instruction form with your control number, the Company strongly encourages you to contact your brokerage firm, financial institution or other intermediary and request the control number for each of your accounts that hold First Majestic Shares. Once you have obtained your control number(s), you can vote the First Majestic Shares represented by such control number(s) at www.proxyvote.com.
In addition, you can click on the following link to download Broadridge's voting app, ProxyVote: Your Voice Matters: https://www.broadridge.com/resource/proxyvote-app. Once you have downloaded the app, follow the instructions to create an account, then log in to vote your First Majestic Shares using the app (without the need for a control number). If you do not see a voting button in respect of the Special Meeting, you will need to link your accounts that hold your First Majestic Shares by clicking on "link a new investment account" on the home page of the app.
The Company has also retained Kingsdale as a Strategic Advisor and to assist in the solicitation of proxies for the Special Meeting. If you need assistance with voting your First Majestic Shares, or with obtaining your control number(s), we strongly encourage you to contact Kingsdale at 1-866-851-3214 (toll-free in North America) or 1-647-577-3635 (text and call enabled outside North America), or by email at contactus@kingsdaleadvisors.com.
The Canada Post labour dispute will not have any impact on the delivery of physical copies of the Meeting Materials to any US and international shareholders of the Company who have requested such physical copies. However, proxies mailed to Computershare Investor Services Inc. in Canada, and voting instruction forms mailed to Broadridge Canada, may not be received by them prior to the proxy deadline due to the labour dispute. Accordingly, all Canadian registered and beneficial shareholders are strongly encouraged to vote their First Majestic Shares online or by telephone as instructed in the Meeting Materials. Shareholders should contact Kingsdale if they need any assistance in voting their First Majestic Shares.
Gatos Stockholder Meeting
Holders of shares of Gatos common stock are also required to provide their approval of the Transaction, and accordingly, Gatos has announced that it will hold its stockholder meeting virtually on Tuesday, January 14, 2025, at 10:00 a.m. (Vancouver time), one hour prior to the First Majestic Special Meeting.
Subject to the approval of First Majestic's shareholders and Gatos' stockholders and the satisfaction or waiver of other conditions precedent, it is anticipated that the Transaction will close in early 2025.
Important Information for Investors and Shareholders about the Transaction and Where to Find It
This news release is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities of First Majestic or Gatos or the solicitation of any vote or approval in any jurisdiction, nor shall there be any sale, issuance or transfer of securities of First Majestic or Gatos in any jurisdiction in contravention of applicable law. This news release may be deemed to be soliciting material relating to the Transaction.
In connection with the proposed transaction between First Majestic and Gatos pursuant to the Merger Agreement and subject to future developments, First Majestic has filed a registration statement on Form F-4 (the "Form F-4") with the U.S. Securities and Exchange Commission (the "SEC"), which includes a proxy statement of Gatos that also constitutes a prospectus of First Majestic (the "Proxy Statement/Prospectus"). The Form F-4 was declared effective by the SEC on December 2, 2024. Gatos filed a Proxy Statement/Prospectus with the SEC on December 3, 2024 which it commenced mailing to its stockholders on December 6, 2024. First Majestic filed the Information Circular in connection with the proposed Transaction with applicable Canadian securities regulatory authorities on December 10, 2024. This news release is not a substitute for any registration statement, proxy statement, prospectus or other document First Majestic or Gatos has filed or may file with the SEC or Canadian securities regulatory authorities in connection with the proposed Transaction. First Majestic commenced mailing the Meeting Materials to its shareholders on December 10, 2024. INVESTORS AND SECURITY HOLDERS OF GATOS AND FIRST MAJESTIC ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS AND MANAGEMENT PROXY CIRCULAR, RESPECTIVELY, AND ANY OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC OR CANADIAN SECURITIES REGULATORY AUTHORITIES CAREFULLY IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BEFORE MAKING ANY VOTING OR INVESTMENT DECISION WITH RESPECT TO THE TRANSACTION BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT FIRST MAJESTIC, GATOS, THE TRANSACTION AND RELATED MATTERS. Investors and security holders may obtain free copies of the Proxy Statement/Prospectus, the filings with the SEC that are incorporated by reference into the Proxy Statement/Prospectus and other documents filed with the SEC by First Majestic and Gatos containing important information about First Majestic or Gatos and the Transaction through the website maintained by the SEC at www.sec.gov. Investors will also be able to obtain free copies of the management proxy circular and other documents filed with Canadian securities regulatory authorities by First Majestic, through the website maintained by the Canadian Securities Administrators at www.sedarplus.com. In addition, investors and security holders may obtain free copies of the documents filed by First Majestic with the SEC and Canadian securities regulatory authorities on First Majestic's website or by contacting First Majestic's investor relations team. Copies of the documents filed with the SEC by Gatos are available free of charge on Gatos' website at www.gatossilver.com or by contacting Gatos' investor relations team.
Participants in the Merger Solicitation
First Majestic, Gatos and certain of their respective directors, executive officers and employees may be considered participants in the solicitation of proxies in connection with the proposed Transaction. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of the shareholders of First Majestic and the stockholders of Gatos in connection with the Transaction, including a description of their respective direct or indirect interests, by security holdings or otherwise, is included in the Proxy Statement/Prospectus described above and other relevant documents when they are filed with the SEC and Canadian securities regulatory authorities in connection with the proposed Transaction. Additional information regarding First Majestic's directors and executive officers is also included in First Majestic's Notice of Annual Meeting of Shareholders and 2024 Proxy Statement, which was filed with the SEC and Canadian securities regulatory authorities on April 15, 2024, and information regarding Gatos' directors and executive officers is also included in Gatos' Annual Report on Form 10-K for the year ended December 31, 2023 filed with the SEC on February 20, 2024, as amended by Amendment No. 1 to such annual report filed with the SEC on May 6, 2024 and Gatos' 2024 Proxy Statement for its 2024 Annual Meeting of Stockholders, which was filed with the SEC on April 25, 2024. These documents are available free of charge as described above.
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 the San Dimas Silver/Gold Mine, the Santa Elena 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.
On September 5, 2024, First Majestic and Gatos announced that they had entered into a definitive merger agreement (the "Merger Agreement") pursuant to which First Majestic will acquire all of the issued and outstanding shares of Gatos common stock. More information relating to the proposed Transaction can be found on the Company's website, www.firstmajestic.com.
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.
Investors Contact:
Darrell Rae
Investor Relations
info@firstmajestic.com
(604) 688 3033
Cautionary Note Regarding Forward Looking Statements
This news release contains "forward‐looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor created by such sections and other applicable laws and "forward-looking information" under applicable Canadian securities laws (collectively, "forward‐looking statements"). These statements relate to
future events or the future performance, business prospects or opportunities of First Majestic and/or Gatos that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management of First Majestic and/or Gatos made in good faith in light of management's experience and perception of historical trends, current conditions and expected future developments. Forward‐looking statements in this news release include, but are not limited to, statements with respect to: closing of the Transaction and the terms and timing related thereto; the anticipated timing of the Special Meeting and the Gatos stockholder meeting; and the anticipated timing of closing the Transaction. Assumptions may prove to be incorrect and actual results may differ materially from those anticipated. Consequently, guidance cannot be guaranteed. As such, investors are cautioned not to place undue reliance upon guidance and forward‐looking statements as there can be no assurance that the plans, assumptions or expectations upon which they are placed will occur. All statements other than statements of historical fact may be forward‐looking statements. 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".
Actual results may vary from 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: satisfaction or waiver of all applicable closing conditions for the Transaction on a timely basis or at all including, without limitation, receipt of all necessary shareholder, stock exchange and regulatory approvals or consents and lack of material changes with respect to First Majestic and Gatos and their respective businesses, all as more particularly set forth in the Merger Agreement; the timing of the closing of the Transaction and the failure of the Transaction to close for any reason; the outcome of any legal proceedings that may be instituted against First Majestic or Gatos and others related to the Transaction; unanticipated difficulties or expenditures relating to the Transaction; and delays associated with the ongoing Canada Post labour dispute. First Majestic is not affirming or adopting any statements or reports attributed to Gatos (including prior mineral reserve and resource declaration) in this news release or made by Gatos outside of this news release. In addition, the failure of a party to comply with the terms of the Merger Agreement may result in that party being required to pay a fee to the other party, the result of which could have a material adverse effect on the paying party's financial position and results of operations and its ability to fund growth prospects and current operations. Although First Majestic 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.
First Majestic 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. First Majestic does not intend, and does not assume any obligation, to update these forward-looking statements or forward-looking information, except as required by applicable laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/233301
News Provided by Newsfile via QuoteMedia
Pan American Silver Corp. (NYSE: PAAS) (TSX: PAAS) ("Pan American" or the "Company") provides an annual exploration update and releases new exploration drill results for its Jacobina, El Peñon, La Colorada, Huaron, Minera Florida and Timmins mines, as well as its La Colorada Skarn project.
"The success of our exploration program highlights the potential for long-term organic growth at many of our assets," said Christopher Emerson, Vice President of Exploration and Geology at Pan American. "Based on the results we were achieving in exploration this year, we increased our drill budget to over 450,000 metres for 2024. This exploration update highlights these results, and showcases the ongoing discovery of new mineralized structures in and around our existing mining operations."
EXPLORATION HIGHLIGHTS:
All intercepts are reported as estimated true widths in metres ("m"), except for the La Colorada Skarn, which is a massive orebody and intercepts are reported as drilled. Please refer to the Drill Result Highlights Tables beginning on page four of this news release for additional details.
SUMMARY OF EXPLORATION RESULTS
Jacobina mine, Brazil
The Jacobina mine is an underground paleo placer gold mine located in the state of Bahia in northeastern Brazil. The mine has a strong track record of mineral reserve and mineral resource replacement and growth. The mine complex and resources extend over eight kilometres with exploration targets extending over a 14 kilometre trend of conglomerate reefs hosting gold mineralization, many of which remain open to depth and along strike.
El Peñon, Chile
El Peñon is a large, high-grade gold-silver epithermal system located in northern Chile.
La Colorada mine, Mexico
The La Colorada mine is a silver-rich polymetallic operation located in the state of Zacatecas, Mexico.
La Colorada Skarn project, Mexico
The La Colorada Skarn is a large silver-bearing polymetallic deposit located below and adjacent to the producing vein system of the La Colorada mine.
Huaron mine, Peru
The Huaron mine is a polymetallic (Zn-Pb-Ag-Cu) deposit situated in the Cerro de Pasco Department of central Peru.
Minera Florida, Chile
Minera Florida is an epithermal Au-Ag-Zn underground mine located in the coastal region of central Chile, southwest of Santiago.
Whitney Project (Timmins), Canada
Pan American's Timmins West and Bell Creek mines are located near Timmins, Ontario. The Whitney project is situated 4.5 kilometres south of the Bell Creek processing plant, adjacent to the Pamour open pit operated by Newmont Corporation ("Newmont").
DRILL RESULT HIGHLIGHTS TABLES
Jacobina, Brazil
The following table provides infill and exploration drill result highlights for the Jacobina mine for the period May 2024 to October 2024. Full infill and exploration drill results not included in this table, together with cross sections and plans, are available at https://panamericansilver.com/operations/gold-segment/jacobina/ .
Hole No. | Sector | Reef | Incl. | From (m) | To (m) | Int. (m) | Est. True Width (m) | Au g/t |
JBS00093 | João Belo Sul | LMPC | 381.45 | 385.00 | 3.55 | 3.26 | 8.21 | |
JBS00094 | João Belo Sul | MPC | 378.17 | 380.50 | 2.33 | 2.07 | 5.55 | |
SPC | 404.20 | 410.64 | 6.44 | 5.70 | 4.63 | |||
JBS00095 | João Belo Sul | LVLPC | 342.23 | 347.50 | 5.27 | 4.72 | 3.10 | |
JBEX00126 | João Belo Norte | LVLPC | 400.04 | 405.06 | 5.02 | 3.34 | 6.88 | |
LVLPC | incl. | 401.00 | 403.72 | 2.72 | 1.81 | 12.12 | ||
MRCEX00025 | Maricota | HW | 140.66 | 141.50 | 0.84 | 0.70 | 19.22 | |
MRCEX00026 | Maricota | FW | 561.50 | 571.50 | 10.00 | 4.18 | 2.41 | |
EMB | 677.52 | 680.00 | 2.48 | 1.44 | 7.74 | |||
MRCEX00031 | Maricota | BAS | 647.00 | 664.78 | 17.78 | 10.07 | 2.08 | |
BAS | incl. | 651.50 | 657.05 | 5.55 | 3.14 | 2.58 | ||
MRCEX00032 | Maricota | MR | 379.92 | 387.50 | 7.58 | 5.98 | 5.12 | |
MR | incl. | 379.92 | 383.50 | 3.58 | 2.83 | 9.78 | ||
FW | 403.05 | 412.50 | 9.45 | 7.46 | 2.05 | |||
FW | incl. | 404.50 | 408.50 | 4.00 | 3.16 | 3.50 | ||
MRCEX00034 | Maricota | HW | 488.00 | 498.69 | 10.69 | 5.16 | 3.92 | |
HW | incl. | 488.00 | 493.50 | 5.50 | 2.70 | 6.80 | ||
MRCEX00037 | Maricota | FW | 541.38 | 550.50 | 9.12 | 6.56 | 2.75 | |
MRCEX00038 | Maricota | MR | 236.00 | 239.70 | 3.70 | 2.46 | 5.66 | |
MRCEX00041 | Maricota | HW | 173.15 | 177.50 | 4.35 | 3.27 | 6.87 | |
MRCEX00044 | Maricota | HW | 152.00 | 154.76 | 2.76 | 2.19 | 13.00 | |
MRCEX00049 | Maricota | FW | 173.50 | 175.00 | 1.50 | 1.07 | 10.54 | |
MRCEX00052 | Maricota | FW | 299.50 | 307.00 | 7.50 | 4.31 | 4.49 | |
FW | 314.50 | 319.00 | 4.50 | 2.54 | 11.56 | |||
FW | 327.88 | 351.55 | 23.67 | 12.75 | 3.71 | |||
FW | incl. | 328.50 | 344.00 | 15.50 | 8.35 | 5.26 | ||
MRCEX00053 | Maricota | LU | 137.00 | 141.00 | 4.00 | 3.27 | 3.11 | |
MRCEX00056 | Maricota | HW | 94.00 | 95.50 | 1.50 | 1.42 | 116.41 | |
HW | 106.15 | 111.00 | 4.85 | 4.59 | 5.45 | |||
HW | incl. | 107.00 | 109.00 | 2.00 | 1.89 | 10.08 | ||
FW | 129.00 | 138.20 | 9.20 | 8.74 | 5.86 | |||
FW | incl. | 130.00 | 133.50 | 3.50 | 3.33 | 13.35 | ||
MRCEX00059 | Maricota | HW | 115.50 | 118.50 | 3.00 | 2.96 | 10.23 | |
MRCEX00061 | Maricota | HW | 134.39 | 136.50 | 2.11 | 1.95 | 9.16 | |
MRCEX00062 | Maricota | MR | 177.50 | 179.50 | 2.00 | 1.59 | 7.43 | |
FW | 202.01 | 205.00 | 2.99 | 2.38 | 4.81 | |||
MVTEX00205 | Morro do Vento | FW | 213.00 | 228.68 | 15.68 | 14.11 | 1.17 | |
FW | 243.50 | 246.00 | 2.50 | 2.20 | 4.86 | |||
MVTEX00207 | Morro do Vento | OFF_ R | 192.00 | 196.35 | 4.35 | 3.62 | 3.02 | |
MVTEX00216 | Morro do Vento | FW | 439.50 | 449.50 | 10.00 | 6.74 | 2.65 | |
FW | incl. | 443.50 | 449.00 | 5.50 | 3.70 | 3.13 | ||
MVTEX00217 | Morro do Vento | FW | 327.50 | 339.50 | 12.00 | 6.90 | 3.13 | |
FW | incl. | 329.21 | 332.24 | 3.03 | 1.74 | 9.06 | ||
MVTEX00219 | Morro do Vento | MU | 256.00 | 259.50 | 3.50 | 2.27 | 3.32 | |
MVTEX00220 | Morro do Vento | FW | 494.50 | 513.00 | 18.50 | 7.03 | 2.62 | |
FW | incl. | 499.76 | 506.50 | 6.74 | 2.56 | 5.08 | ||
MVTEX00222 | Morro do Vento | FW | 172.00 | 178.50 | 6.50 | 3.93 | 2.76 | |
MVTEX00223 | Morro do Vento | FW | 543.29 | 555.50 | 12.21 | 5.75 | 5.24 | |
FW | incl. | 551.00 | 555.50 | 4.50 | 2.11 | 11.68 | ||
MVTEX00228 | Morro do Vento | FW | 243.00 | 250.60 | 7.60 | 5.50 | 3.75 | |
FW | incl. | 247.67 | 250.60 | 2.93 | 1.90 | 8.52 |
El Peñon Chile
The following table provides infill and exploration drill result highlights for the El Peñon mine for the period May 2024 to October 2024. Full infill and exploration drill results not included in this table, together with longitudinal sections and plans, are available at: https://panamericansilver.com/operations/gold-segment/el-penon/ .
Hole No. | Vein | From (m) | To (m) | Int. (m) | Est. True Width (m) | Au (g/t) | Ag (g/t) |
SIH0021 | Chiquilla Chica (C1) | 184.30 | 185.90 | 1.60 | 0.88 | 0.77 | 1019 |
UIH0049 | Chiquilla Chica (C1) | 40.05 | 41.70 | 1.65 | 1.46 | 0.44 | 2547 |
UIH0050 | Chiquilla Chica (C1) | 72.60 | 75.30 | 2.70 | 1.44 | 1.29 | 1181 |
UIH0056 | Chiquilla Chica (C1) | 85.60 | 87.10 | 1.50 | 0.95 | 0.22 | 578 |
UEH0024 | Dominadora | 106.15 | 135.00 | 28.85 | 4.10 | 3.62 | 1592 |
UEH0026 | Dominadora | 50.77 | 55.67 | 4.90 | 1.20 | 0.23 | 1349 |
UIV0077 | El Valle | 260.20 | 262.20 | 2.00 | 1.38 | 4.70 | 183 |
UIV0078 | El Valle | 256.30 | 257.50 | 1.20 | 1.20 | 4.70 | 257 |
UIV0079 | El Valle | 259.95 | 262.00 | 2.05 | 1.54 | 8.55 | 154 |
UIV0080 | El Valle | 231.20 | 232.15 | 0.95 | 0.83 | 16.63 | 721 |
UIV0083 | El Valle | 270.15 | 270.93 | 0.78 | 0.76 | 10.11 | 30 |
UIU0052 | La Paloma | 114.69 | 116.50 | 1.81 | 1.31 | 10.88 | 26 |
SIE0015 | Esmeralda | 248.60 | 249.50 | 0.90 | 0.54 | 10.10 | 1139 |
UIP0174 | Pampa Campamento | 351.13 | 352.10 | 0.97 | 0.52 | 9.50 | 664 |
UIP0176 | Pampa Campamento | 389.88 | 390.25 | 0.37 | 0.32 | 26.50 | 42 |
UIP0177 | Pampa Campamento | 291.53 | 293.60 | 2.07 | 1.05 | 18.89 | 746 |
UIP0178 | Pampa Campamento | 213.94 | 215.49 | 1.55 | 0.52 | 9.50 | 420 |
UIP0175 | Pampa Campamento (-35) | 184.95 | 186.15 | 1.20 | 0.65 | 15.33 | 297 |
UIP0189 | Pampa Campamento Diagonal sur | 134.70 | 135.52 | 0.82 | 0.76 | 16.13 | 258 |
UIS0028 | Pampa Campamento Diagonal sur | 60.38 | 62.19 | 1.81 | 1.71 | 10.65 | 186 |
SEP0055 | Pampa Sur | 374.00 | 376.00 | 2.00 | 1.09 | 9.90 | 97 |
SEP0072 | Pampa Sur | 464.00 | 465.00 | 1.00 | 0.69 | 5.50 | 403 |
SIP0051 | Pampa Sur | 364.18 | 365.70 | 1.52 | 0.98 | 8.49 | 156 |
SIP0056 | Pampa Sur | 398.07 | 399.29 | 1.22 | 0.92 | 4.76 | 359 |
SIP0063 | Pampa Sur | 410.53 | 411.44 | 0.91 | 0.67 | 5.63 | 405 |
SIP0064 | Pampa Sur | 352.12 | 352.60 | 0.48 | 0.42 | 18.80 | 1017 |
SIP0067 | Pampa Sur (+50) | 328.00 | 330.00 | 2.00 | 1.18 | 6.50 | 493 |
SIP0080 | Pampa Sur (+50) | 358.50 | 360.00 | 1.50 | 0.79 | 13.90 | 716 |
SIP0073 | Pampa Sur Este | 378.68 | 379.38 | 0.70 | 0.36 | 16.00 | 1651 |
SES0036 | Sorpresa | 333.80 | 334.20 | 0.40 | 0.30 | 22.00 | 838 |
UIS0023 | Sorpresa | 199.30 | 200.90 | 1.60 | 1.30 | 4.29 | 133 |
La Colorada, Mexico
The following table provides the drill result highlights for the La Colorada mine for the period May 2024 to October 2024. Full drill results not included in this table, together with cross sections and plans, are available at: https://panamericansilver.com/operations/silver-segment/la-colorada/ .
Hole No. | Vein | From (m) | To (m) | Interval (m) | Est. True Width (m) | Ag g/t | Au (g/t) | Pb % | Zn % |
S-104-24 | Mariana Vein | 621.50 | 622.60 | 1.10 | 0.95 | 9618 | 0.89 | 4.85 | 4.82 |
and | NC2 Splay | 795.95 | 796.70 | 0.75 | 0.53 | 4916 | 0.08 | 9.82 | 1.02 |
S-115-24 | San Geronimo Vein System | 461.10 | 463.65 | 2.55 | 1.08 | 1637 | 1.22 | 2.08 | 3.35 |
S-119-24 | Cristina Vein | 596.00 | 599.40 | 3.40 | 1.95 | 1470 | 0.03 | 3.15 | 3.23 |
S-138-24 | NC2 Vein | 695.60 | 701.60 | 6.00 | 4.60 | 666 | 0.90 | 1.32 | 2.74 |
S-146-24 | Mariana Vein | 701.05 | 704.55 | 3.50 | 2.47 | 1846 | 0.41 | 2.66 | 3.95 |
S-154-24 | Mariana Vein | 466.30 | 469.85 | 3.55 | 2.51 | 1189 | 0.24 | 0.82 | 1.09 |
and | NC2 Vein | 540.25 | 544.30 | 4.05 | 2.32 | 2615 | 0.34 | 2.31 | 5.16 |
S-161-24 | San Geronimo Splay | 703.15 | 710.45 | 7.30 | 5.59 | 456 | 0.94 | 1.10 | 2.41 |
S-168-24 | Cristina Vein | 361.90 | 367.00 | 5.10 | 3.28 | 308 | 4.55 | 10.18 | 13.09 |
and | San Geronimo Vein | 597.10 | 602.95 | 5.85 | 2.93 | 528 | 0.50 | 3.04 | 5.54 |
S-172-24 | San Geronimo Splay | 670.60 | 678.75 | 8.15 | 4.08 | 255 | 0.23 | 3.28 | 7.33 |
S-44-24 | San Geronimo Splay | 558.60 | 562.10 | 3.50 | 2.25 | 1420 | 0.60 | 2.04 | 1.93 |
S-47-24 | NC2 Vein | 771.85 | 783.65 | 11.80 | 5.90 | 837 | 0.39 | 2.97 | 8.01 |
S-75-24 | Mariana Vein | 616.40 | 620.00 | 3.60 | 1.80 | 3025 | 0.49 | 4.21 | 3.10 |
S-81-24 | NC2 Splay | 678.30 | 679.75 | 1.45 | 1.36 | 7634 | 1.83 | 1.46 | 3.62 |
U-09-24 | Sofia Vein | 268.55 | 269.40 | 0.85 | 0.74 | 4914 | 1.34 | 6.69 | 0.03 |
U-151-24 | CRD | 66.05 | 84.50 | 18.45 | 17.34 | 110 | 0.23 | 2.20 | 7.96 |
U-158-24 | Jenni Vein | 45.95 | 49.35 | 3.40 | 1.70 | 1825 | 1.05 | 2.35 | 6.16 |
U-96-24 | Real Vein | 252.55 | 255.60 | 3.05 | 2.76 | 749 | 0.63 | 13.01 | 8.97 |
La Colorada Skarn, Mexico
The following table provides infill and exploration drill result for the La Colorada Skarn deposit May 2024 to October 2024. Full drill results not included in this table, together with cross sections and plans, are available at: https://panamericansilver.com/operations/silver-segment/la-colorada-skarn/ .
Hole No. | From (m) | To (m) | Interval (m) (1) | Ag g/t | Cu % | Pb % | Zn % |
D-71-12-24 | 1102.45 | 1250.60 | 148.15 | 39 | 0.07 | 1.68 | 3.12 |
U-155-24 | 724.00 | 997.10 | 273.10 | 54 | 0.17 | 0.85 | 5.18 |
Incl. | 872.50 | 935.05 | 62.55 | 84 | 0.31 | 1.97 | 7.57 |
U-19-24 | 503.95 | 564.20 | 60.25 | 85 | 0.08 | 7.05 | 10.41 |
U-58-24 | 791.75 | 869.45 | 77.70 | 36 | 0.08 | 2.88 | 4.58 |
U-74-24 | 629.70 | 843.90 | 214.20 | 33 | 0.05 | 2.69 | 3.21 |
U-92-24 | 527.40 | 582.40 | 55.00 | 103 | 0.06 | 4.10 | 5.75 |
and | 806.40 | 929.65 | 123.25 | 134 | 0.07 | 1.02 | 4.38 |
(1) True widths of the mineralized intervals are unknown at this time. | |||||||
Huaron, Peru
The following table provides infill and exploration drill result highlights from the medium, lower and Horizonte sectors of the Huaron mine for the period May 2024 to October 2024. Full drill and channel sampling results not included in this table, together with cross sections and plans, are available at: https://panamericansilver.com/operations/silver-segment/huaron/ .
Hole No | Vein | Zone | From (m) | To (m) | Interval (m) | Est. True Width (m) | Ag g/t | Cu% | Pb% | Zn% |
DDH-U-040-24 | Cuerpo Andres | Horizonte | 51.65 | 52.30 | 0.65 | 0.56 | 722 | 0.12 | 6.06 | 1.90 |
and | Labor Este | Horizonte | 184.10 | 186.55 | 2.45 | 1.70 | 123 | 0.06 | 3.06 | 5.98 |
DDH-U-041-24 | Martin Ramal | Middle | 198.30 | 200.90 | 2.60 | 2.46 | 369 | 0.15 | 2.74 | 2.01 |
DDH-U-049-24 | Cuerpo Andres | Horizonte | 59.95 | 63.55 | 3.60 | 2.77 | 768 | 0.02 | 1.85 | 0.62 |
DDH-U-051-24 | Martin Ramal | Middle | 236.30 | 237.20 | 0.90 | 0.58 | 409 | 0.13 | 9.27 | 15.82 |
DDH-U-055-24 | Martin Ramal | Middle | 176.20 | 178.45 | 2.25 | 2.24 | 683 | 0.17 | 10.65 | 3.10 |
DDH-U-056-24 | Cuerpo Andres | Horizonte | 48.35 | 53.00 | 4.65 | 3.90 | 162 | 0.04 | 4.02 | 6.06 |
DDH-U-064-24 | Labor Este | Horizonte | 186.60 | 188.25 | 1.65 | 1.43 | 181 | 0.04 | 4.34 | 4.73 |
DDH-U-065-24 | Cometa Ramal | Horizonte | 390.80 | 394.80 | 4.00 | 3.04 | 133 | 0.13 | 2.19 | 4.65 |
DDH-U-068-24 | Cuerpo Andres | Horizonte | 56.75 | 57.60 | 0.85 | 0.65 | 459 | 0.07 | 9.43 | 6.72 |
and | Labor Este | Horizonte | 202.35 | 205.25 | 2.90 | 1.98 | 243 | 0.06 | 3.54 | 5.20 |
DDH-U-071-24 | Labor Este | Horizonte | 141.20 | 144.00 | 2.80 | 2.56 | 201 | 0.03 | 4.81 | 4.13 |
DDH-U-073-24 | Labor Este | Horizonte | 140.10 | 143.55 | 3.45 | 3.21 | 74 | 0.03 | 2.31 | 2.16 |
DDH-U-075-24 | Cuerpo Andres | Horizonte | 39.85 | 40.45 | 0.60 | 0.55 | 701 | 0.09 | 13.64 | 8.83 |
DDH-U-084-24 | Cuerpo Andres | Horizonte | 60.55 | 63.00 | 2.45 | 1.70 | 61 | 0.08 | 1.97 | 12.73 |
DDH-U-086-24 | Martin Ramal | Middle | 12.60 | 14.20 | 1.60 | 1.56 | 535 | 0.20 | 10.02 | 2.31 |
DDH-U-088-24 | Cometa Ramal | Horizonte | 398.85 | 404.20 | 5.35 | 3.66 | 114 | 0.10 | 1.83 | 3.55 |
DDH-U-100-24 | Cuerpo Andres | Horizonte | 264.85 | 267.25 | 2.40 | 1.64 | 115 | 0.04 | 2.85 | 3.89 |
DDH-U-105-24 | Cuerpo Andres | Horizonte | 54.90 | 56.65 | 1.75 | 1.40 | 87 | 0.06 | 1.77 | 8.47 |
DDH-U-108-24 | Cometa Ramal | Horizonte | 489.95 | 493.00 | 3.05 | 1.65 | 304 | 0.08 | 1.86 | 2.18 |
DDH-U-110-24 | Maria Ramal | Horizonte | 66.00 | 73.15 | 7.15 | 4.10 | 140 | 0.04 | 3.10 | 5.91 |
DDH-U-111-24 | Maria Ramal | Horizonte | 47.70 | 50.55 | 2.85 | 2.10 | 399 | 0.04 | 7.39 | 14.58 |
DDH-U-113-24 | Maria Ramal | Horizonte | 37.35 | 39.00 | 1.65 | 1.50 | 504 | 0.04 | 12.77 | 19.97 |
DDH-U-114-24 | Maria Ramal | Horizonte | 36.10 | 38.80 | 2.70 | 2.50 | 272 | 0.03 | 6.06 | 10.39 |
DDH-U-116-24 | Maria Ramal | Horizonte | 48.60 | 49.65 | 1.05 | 0.80 | 357 | 0.07 | 13.66 | 12.73 |
Minera Florida, Chile
The following table provides infill and exploration drill result highlights for the Minera Florida mine for January 2024 to October 2024. Full drill results not included in this table, together with cross sections and plans, are available at: https://panamericansilver.com/operations/gold-segment/minera-florida/ .
Hole | Vein | From (m) | To (m) | Interval (m) | Est. True Width (m) | Au (g/t) | Ag (g/t) | Zn % |
ALH4578 | Aurora | 115.25 | 116.10 | 0.85 | 0.71 | 12.62 | 47 | 0.46 |
ALH4598 | Bandolera | 86.50 | 88.80 | 2.30 | 2.19 | 4.84 | 4 | 3.01 |
ALH4607 | Bandolera | 109.05 | 110.65 | 1.60 | 1.25 | 11.15 | 6 | 2.61 |
ALH4482 | Central superior 1 | 119.85 | 124.65 | 4.80 | 2.68 | 8.80 | 410 | 0.20 |
ALH4426 | Cipres_1 | 143.17 | 145.08 | 1.91 | 1.19 | 7.29 | 7 | 1.48 |
ALH4460 | Cipres_1 | 138.90 | 140.05 | 1.15 | 0.72 | 17.92 | 15 | 1.14 |
ALH4421 | Don Leopoldo sur | 91.45 | 93.65 | 2.20 | 1.53 | 6.34 | 9 | 4.79 |
ALH4623 | Don Leopoldo sur | 116.60 | 118.20 | 1.60 | 1.28 | 8.29 | 7 | 0.40 |
ALH4505 | Gasparín Superior | 173.65 | 175.30 | 1.65 | 0.90 | 10.23 | 13 | 0.31 |
ALH4406 | Manda Norte | 148.40 | 149.30 | 0.90 | 0.62 | 29.68 | 13 | 0.04 |
ALH4687 | Maqui CII | 84.45 | 85.85 | 1.40 | 1.16 | 5.40 | 173 | 2.16 |
ALH4638 | Maqui CII | 128.85 | 132.25 | 3.40 | 1.97 | 9.38 | 23 | 4.96 |
ALH4690 | Maqui CII | 73.35 | 75.15 | 1.80 | 1.64 | 4.95 | 28 | 2.24 |
ALH4556 | Maqui CIII | 54.75 | 56.05 | 1.30 | 1.05 | 5.62 | 21 | 12.52 |
ALH4580 | Maqui CIII | 58.20 | 59.55 | 1.35 | 1.03 | 9.10 | 22 | 7.10 |
ALH4588 | Maqui CIII | 68.75 | 70.50 | 1.75 | 1.19 | 13.62 | 11 | 3.81 |
ALH4631 | Maqui CIII | 52.50 | 53.20 | 0.70 | 0.61 | 12.68 | 35 | 18.07 |
ALH4638 | Maqui CIII | 111.15 | 115.30 | 4.15 | 1.98 | 16.11 | 13 | 6.44 |
ALH4673 | Maqui CIII | 81.40 | 83.65 | 2.25 | 1.28 | 9.58 | 15 | 5.58 |
ALH4592 | Maqui Norte | 107.85 | 110.10 | 2.25 | 1.59 | 10.23 | 31 | 5.57 |
ALH4562 | Mila | 113.00 | 117.40 | 4.40 | 2.57 | 10.32 | 12 | 0.08 |
ALH4574 | Mila | 191.80 | 196.20 | 4.40 | 1.70 | 8.29 | 110 | 3.34 |
ALH4467 | Mila | 129.90 | 132.55 | 2.65 | 1.15 | 6.52 | 286 | 2.29 |
ALH4476 | Peque | 67.05 | 68.25 | 1.20 | 0.78 | 10.68 | 8 | 10.05 |
ALH4481 | Peque | 80.30 | 81.55 | 1.25 | 0.91 | 12.53 | 43 | 8.31 |
ALH4496 | Peque | 55.00 | 57.30 | 2.30 | 1.82 | 4.74 | 35 | 1.26 |
ALH4577 | Peque | 101.30 | 103.75 | 2.45 | 1.11 | 11.57 | 23 | 7.61 |
ALH4644 | Peque | 59.35 | 60.20 | 0.85 | 0.83 | 13.77 | 77 | 1.54 |
ALH4715 | Peque | 202.75 | 207.85 | 5.10 | 1.48 | 10.71 | 13 | 2.74 |
ALH4729 | Rafael II | 56.35 | 59.65 | 3.30 | 1.95 | 4.74 | 415 | 3.86 |
ALH4701 | Sat. 1 Maqui | 152.55 | 154.40 | 1.85 | 0.92 | 20.61 | 13 | 0.09 |
ALH4424 | Satelite Mila Sur 1 | 371.85 | 373.35 | 1.50 | 1.41 | 2.62 | 627 | 1.44 |
ALH4534 | Satélite Valeria 1 | 111.35 | 112.60 | 1.25 | 0.92 | 14.06 | 27 | 0.04 |
ALH4549 | Satélite Valeria 1 | 107.25 | 109.90 | 2.65 | 1.88 | 9.05 | 11 | 0.09 |
ALH4594 | Satélite Valeria 1 | 166.35 | 167.70 | 1.35 | 0.85 | 16.60 | 17 | 2.09 |
ALH4516 | Satélite Valeria 8 | 72.65 | 73.90 | 1.25 | 1.05 | 3.39 | 1645 | 0.18 |
ALH4521 | Satélite Valeria 8 | 91.00 | 92.15 | 1.15 | 0.82 | 11.64 | 55 | 2.60 |
ALH4617 | Satélite Valeria 8 | 61.75 | 62.95 | 1.20 | 1.18 | 15.05 | 15 | 0.83 |
ALH4436 | Satélite VCS 21 | 51.50 | 52.65 | 1.15 | 0.68 | 15.53 | 56 | 0.81 |
ALH4426 | Sorpresa | 41.85 | 44.20 | 2.35 | 2.14 | 5.84 | 12 | 1.35 |
ALH4449 | Sorpresa | 43.60 | 46.30 | 2.70 | 1.82 | 5.05 | 7 | 0.97 |
ALH4600 | Sorpresa | 20.90 | 26.50 | 5.60 | 2.93 | 5.34 | 18 | 3.40 |
ALH4657 | Sorpresa | 21.70 | 28.10 | 6.40 | 2.95 | 8.79 | 10 | 1.48 |
ALH4672 | Sorpresa | 13.25 | 15.00 | 1.75 | 1.34 | 6.67 | 13 | 1.61 |
Whitney Project (Timmins), Canada
The following table provides infill and exploration drill result highlights from the Hallnor/Bonetal and Broulan Reef deposits of the Whitney Project for the period November 2023 to September 2024. Full infill and exploration drill results not included in this table, together with cross sections and plans, are available at: https://panamericansilver.com/operations/gold-segment/timmins/ .
Hole No. | Zone | From (m) | To (m) | Int (m) | Est. True Width (m) | Au g/t |
TW23-749 | Broulan Reef | 61.0 | 62.0 | 1.0 | 0.8 | 28.40 |
TW23-750 | Hallnor | 444.2 | 462.0 | 17.8 | 11.7 | 3.28 |
Incl. | 454.0 | 461.0 | 7.0 | 4.5 | 5.98 | |
TW23-751 | Hallnor | 411.2 | 430.0 | 18.8 | 13.7 | 2.11 |
Incl. | 415.0 | 425.0 | 10.0 | 7.3 | 3.27 | |
TW23-754 | Hallnor | 548.0 | 561.0 | 13.0 | 10.1 | 3.33 |
TW23-756 | Hallnor | 319.0 | 320.0 | 1.0 | 0.6 | 65.30 |
408.5 | 428.0 | 19.5 | 10.8 | 2.91 | ||
Incl. | 409.0 | 415.0 | 6.0 | 3.3 | 6.07 | |
TW24-758 | Hallnor | 472.7 | 476.9 | 4.2 | 2.7 | 19.89 |
TW24-759A | Hallnor | 500.0 | 508.0 | 8.0 | 5.1 | 5.15 |
TW24-765 | Hallnor | 118.0 | 119.0 | 1.0 | 0.8 | 58.20 |
TW24-770 | Hallnor | 99.0 | 117.0 | 18.0 | 14.5 | 3.42 |
Incl. | 99.0 | 110.0 | 11.0 | 8.8 | 4.58 | |
and | 99.7 | 102.0 | 2.3 | 1.8 | 14.40 | |
TW24-771 | Hallnor | 120.5 | 130.0 | 9.5 | 7.2 | 31.50 |
Incl. | 122.0 | 123.0 | 1.0 | 0.8 | 284.00 | |
TW24-772 | Bonetal | 132.0 | 133.0 | 1.0 | 0.8 | 71.40 |
TW24-776 | Bonetal | 110.0 | 112.0 | 2.0 | 1.5 | 21.75 |
TW24-780 | Bonetal | 193.0 | 194.0 | 1.0 | 0.8 | 67.80 |
TW24-782 | Bonetal | 125.0 | 140.0 | 15.0 | 11.4 | 3.78 |
TW24-783 | Bonetal | 115.0 | 127.0 | 12.0 | 9.8 | 2.74 |
139.0 | 152.0 | 13.0 | 10.6 | 3.37 | ||
TW24-786 | Broulan Reef | 169.5 | 180.5 | 11.0 | 7.6 | 6.26 |
Incl. | 175.0 | 176.0 | 1.0 | 0.7 | 11.80 | |
also incl. | 178.6 | 179.1 | 0.5 | 0.3 | 86.30 | |
TW24-793 | Broulan Reef | 197.1 | 200.0 | 2.9 | 2.4 | 360.18 |
Incl. | 197.6 | 198.1 | 0.5 | 0.4 | 1940.00 | |
also incl. | 198.1 | 198.5 | 0.4 | 0.3 | 140.00 | |
also incl. | 198.5 | 199.0 | 0.5 | 0.4 | 31.40 | |
TW24-802 | Broulan Reef | 116.8 | 117.2 | 0.4 | 0.3 | 378.00 |
TW24-804 | Broulan Reef | 138.5 | 144.3 | 5.8 | 4.3 | 4.69 |
Incl. | 140.5 | 141.0 | 0.5 | 0.4 | 41.20 |
General Notes with Respect to Technical Information
Grades are shown as contained metal before mill recoveries are applied. The Company has undertaken a verification process with respect to the data disclosed in this news release.
Samples are analyzed at a variety of laboratories, including by in-house staff at the mine (Jacobina and La Colorada), mine laboratories operated by third party independent commercial labs (Huaron), and commercial laboratories off-site (La Colorada, El Peñon, Minera Florida, Whitney and Jacobina). All the assay data reported in this news release has been subjected to the industry standard quality assurance and quality control ("QA/QC") program including the submission of certified standards, blanks, and duplicate samples. The results are reviewed on a monthly and quarterly basis by management. In general, the assay analytical technique for silver, lead, zinc and copper is acid digestion with either ICP or atomic absorption finish. The analytical technique for gold uses fire assay and atomic absorption spectrometry (AAS) finish. A gravimetric finish would be used if the gold assay exceeds > 10 g/t (or >5 g/t at El Peñon). The results of the QA/QC samples submitted for the resource databases demonstrate acceptable accuracy and precision. The offsite commercial laboratories are independent from Pan American and certified by ISO 17025:2017.
The Qualified Persons are of the opinion that the sample preparation, analytical, and security procedures followed for the samples are sufficient and reliable for the purpose of this news release and for the purpose of any future mineral resource and mineral reserve estimates. There were no limitations on the Qualified Persons' verification process. Pan American is not aware of any drilling, sampling, recovery or other factors that could materially affect the accuracy or reliability of the data reported herein.
Mineral resources and mineral reserves are as defined by the Canadian Institute of Mining, Metallurgy and Petroleum.
See the Company's Annual Information Form dated March 26, 2024, available at www.sedarplus.com , or the Company's most recent Form 40-F filed with the United States Securities and Exchange Commission (the "SEC") for further information on the Company's material mineral properties, including detailed information concerning associated QA/QC and data verification matters, the 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 the Company's mineral reserves and mineral resources.
Technical information contained in this news release with respect to Pan American has been reviewed and approved by Christopher Emerson, FAusIMM, Vice President Exploration and Geology, and Martin Wafforn, P.Eng., Senior Vice President Technical Services and Process Optimization, each of whom is a Qualified Person for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects (‘‘NI 43-101''). Pan American is authorized by The Association of Professional Engineers and Geoscientists of the Province of British Columbia to engage in Reserved Practice under Permit to Practice number 1001470.
Cautionary Note to US Investors
This news release has been prepared in accordance with the requirements of Canadian NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards, which differ from the requirements of U.S. securities laws. 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 mineral projects.
Canadian public disclosure standards, including NI 43-101, differ significantly from the requirements of the SEC, and information concerning mineralization, deposits, mineral reserve and mineral resource information contained or referred to herein may not be comparable to similar information disclosed by U.S. companies. The requirements of NI 43-101 for identification of "reserves" are not the same as those of the SEC and may not qualify as "reserves" under SEC standards. Under U.S. standards, mineralization may not be classified as a "reserve" unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made. U.S. investors should also understand that "inferred mineral resources" have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. Under Canadian securities laws, estimated "inferred mineral resources" may not form the basis of feasibility or pre-feasibility studies except in rare cases.
About Pan American Silver
Pan American Silver is a leading producer of silver and gold in the Americas, operating mines in Canada, Mexico, Peru, Brazil, Bolivia, Chile and Argentina. We also own the Escobal mine in Guatemala that is currently not operating, and we hold interests in exploration and development projects. We have been operating in the Americas for three decades, earning an industry-leading reputation for sustainability performance, operational excellence and prudent financial management. We are headquartered in Vancouver, B.C. and our shares trade on the New York Stock Exchange and the Toronto Stock Exchange under the symbol "PAAS".
Learn more at panamericansilver.com
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Cautionary Note Regarding Forward-Looking Statements and Information
Certain of the statements and information in this news release constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian provincial securities laws. All statements, other than statements of historical fact, are forward-looking statements or information. Forward-looking statements or information in this news release relate to, among other things: the extent of, and success related to any future exploration or development programs, including with respect to its Jacobina, El Peñon, La Colorada, Minera Florida, Huaron and Timmins properties and for its La Colorada Skarn and Whitney projects, and the potential impact of any such drill results on the Company's mineral reserves or mineral resources.
These forward-looking statements and information reflect Pan American's current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by Pan American, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include: tonnage of ore to be mined and processed; ore grades and recoveries; prices for silver, gold and base metals remaining as estimated; currency exchange rates remaining as estimated; capital, decommissioning and reclamation estimates; our mineral reserve and resource estimates and the assumptions upon which they are based; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour-related disruptions at any of our operations; no unplanned delays or interruptions in scheduled production; all necessary permits, licenses and regulatory approvals for our operations are received in a timely manner; our ability to secure and maintain title and ownership to properties and the surface rights necessary for our operations; and our ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.
Pan American cautions the reader that forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news release and Pan American has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: fluctuations in silver, gold and base metal prices; fluctuations in prices for energy inputs, labour, materials, supplies and services (including transportation); fluctuations in currency markets (such as the PEN, MXN, ARS, BOB, GTQ, CAD, CLP, and BRL versus the USD); operational risks and hazards inherent with the business of mining (including environmental accidents and hazards, industrial accidents, equipment breakdown, unusual or unexpected geological or structural formations, cave-ins, flooding and severe weather); risks relating to the credit worthiness or financial condition of suppliers, refiners and other parties with whom Pan American does business; inadequate insurance, or inability to obtain insurance, to cover these risks and hazards; employee relations; relationships with, and claims by, local communities and indigenous populations; our ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner; changes in laws, regulations and government practices in the jurisdictions where we operate, including environmental, export and import laws and regulations; changes in national and local government, legislation, taxation, controls or regulations and political, legal or economic developments, including legal restrictions relating to mining, risks relating to expropriation, and risks relating to the constitutional court-mandated ILO 169 consultation process in Guatemala; diminishing quantities or grades of mineral reserves as properties are mined; increased competition in the mining industry for equipment and qualified personnel; the duration and effects any pandemics on our operations and workforce; and those factors identified under the caption "Risks Related to Pan American's Business" in Pan American's most recent form 40-F and Annual Information Form filed with the United States Securities and Exchange Commission and Canadian provincial securities regulatory authorities, respectively. Although Pan American has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Investors are cautioned against undue reliance on forward-looking statements or information. Forward-looking statements and information are designed to help readers understand management's current views of our near and longer term prospects and may not be appropriate for other purposes. Pan American does not intend, nor does it assume any obligation to update or revise forward-looking statements or information, whether as a result of new information, changes in assumptions, future events or otherwise, except to the extent required by applicable law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241209583019/en/
For more information contact:
Siren Fisekci
VP, Investor Relations & Corporate Communications
Ph: 604-806-3191
Email: ir@panamericansilver.com
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