
(TheNewswire)
Vancouver, British Columbia TheNewswire - June 5th, 2025 Prismo Metals Inc. (the " Company ") (CSE: PRIZ) (OTCQB: PMOMF) is pleased to announce the appointment of Gordon Aldcorn as President, effective immediately.
Prismo Metals Inc. (the "Company") (CSE:PRIZ)(OTCQB:PMOMF)(FSE:7KU) is pleased to announce that it has received permit approval from the Bureau of Land Management ("BLM") for ten drill pads, at the Hot Breccia copper project in Southern Arizona.
The drill pads will allow for drilling to test the prospective stratigraphy below the cover volcanic rock over a wide area, and in particular the large conductive anomaly identified by Prismo's 2023 ZTEM survey. Ground mapping, prospecting and sampling conducted earlier this year has supported the targeting process and target selection.
A bond has been posted with the Bureau of Land Management as the final step required before proceeding. Preparatory work in advance of drilling will be expedited by Prismo through the utilization of existing road infrastructure built in the 1970's, which requires only minor repair and maintenance. Upon confirmation and acceptance of the bond by BLM, road upkeep and maintenance will start to enable drilling to commence in Q3 2024.
Steve Robertson, President, commented "Getting the permit approval to proceed with this important drill program is a defining event for Prismo Metals as it marks the first time in five decades that exploration on this attractive target can be activated on a property where historical drillings reported several copper intercepts that exceeded 1% copper and elevated zinc .This 5,000-metre program will provide critical information on the vectoring needed to lead us to the heart of the yet another mineralizing system in one of the most prolific copper districts on the planet."
The Company has established a budget of $3.0 million to complete the proposed five drill hole, 5,000 metre program. Each drill hole is intended to drill through the entire Paleozoic carbonate stratigraphy and Prismo anticipates 1,000 metres per drill hole although the exploration team will take advantage of the geological information provided by each drill hole to determine if any holes require extended drilling.
Robertson added "The most recent exploration of this mineralized target was over 50 years ago. Since then, discovery of one of the world's most significant copper deposits 40 km away at Resolution has changed the "Art of the Possible" for exploration in the region. This amplifies our eagerness to initiate drilling in order to continue advancement of the exploration process."
Figure 1. Location ofthe Hot Breccia Project in the Arizona Copper Belt.
Figure 2.View of the subsurface looking northeasterly showing the conductive body from the ZTEM survey and cross sections of the Christmas deposit and the Hot Breccia area. Historic drill holes are shown with copper assays as disks within the red ellipse; the magenta color indicates > 1% Copper.
About Hot Breccia
The Hot Breccia property consists of 1,420 hectares 227 contiguous mining claims located in the world class Arizona Copper Belt between several very well understood world-class copper mines including Morenci, Ray and Resolution. (Figure 1) Hot Breccia shows many features in common with these neighboring systems, most prominently a swarm of porphyry dikes and series of breccia pipes containing numerous fragments of well copper-mineralized rocks mixed with fragments of volcanic and sedimentary derived from considerable depth. Prismo ran a ZTEM survey last year that identified a very large conductive anomaly directly beneath the breccia outcrops.
Sampling at the project has shown the presence of copper mineralization associated with polymictic breccia that has brought fragments of sedimentary rocks and mineralization to the surface from depths believed to be 400-1,000 meters below the surface, so drilling of deep holes, possibly including a twin of an historic hole, is planned.
Figure 3. Plan view of the surface geology showing the hot breccia land boundary in black and the cross sections from Fig. 2. The surface projection of the conductive body shown in Fig. 2 is roughly outlined in red.
Assay results from historic drill holes are unverified as the core has been destroyed, but information has been gathered from memos, photos and drill logs that contain some, but not all, of the assay results and descriptions.
QA/QC
Dr. Craig Gibson, PhD., CPG., a Qualified Person as defined by NI-43-01 regulations and Chief Exploration Officer and a director of the Company, has reviewed and approved the technical disclosures in this news release.
About Prismo Metals Inc.
Prismo (CSE:PRIZ) is mining exploration company focused on two precious metal projects in Mexico (Palos Verdes and Los Pavitos) and a copper project in Arizona (Hot Breccia).
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Prismo Metals Inc.
1100 - 1111 Melville St., Vancouver, British Columbia V6E 3V6
Contact:
Alain Lambert, Chief Executive Officer alambert@cpvcgroup.ca
Steve Robertson, President steve.robertson@prismometals.com
Jason Frame, Manager of Communications jason.frame@prismometals.com
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things: the timing, costs and results of drilling at Hot Breccia.
These forward‐looking statements involve numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things: delays in obtaining or failure to obtain appropriate funding to finance the exploration program at Hot Breccia.
In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that: the ability to raise capital to fund the drilling campaign at Hot Breccia and the timing of such drilling campaign.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. 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 and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
Prismo Metals presents a compelling investment opportunity with its strategic focus on high-grade precious and base metal exploration in Mexico and Arizona, leveraging advanced technology and maximizing shareholder value through targeted asset development.
Mexico’s Sinaloa state hosts several prolific silver and gold mines, including McEwen Mining’s (TSX:MUX) El Gallo Complex, Americas Gold and Silver’s (TSX:USA) Cosalá operations and Kootenay Silver’s (TSXV:KTN) Copalito silver-gold project. Between 2012 and 2019, gold production at the El Gallo mine alone totaled 295,000 ounces (oz) and silver production peaked at 142,000 oz. At the Panuco project, Vizsla Silver (TSXV:VZLA) has an indicated resource of 9.5 million tons at grades of 289 g/t silver, 2.41 g/t gold, 0.27 percent lead and 0.84 percent zinc for 155.8 Moz silver equivalent.
Prismo Metals (CSE:PRIZ,OTCQB:PMOMF, FSE:7KU) has made a strategic move to join the list of successful explorers in this region. The company’s leadership team has decades of experience in the Mexican precious metals industry. Director, president, CEO and co-founder Dr. Craig Gibson has been an exploration consultant since 1998 and a director of Beyond Minerals (CSE:BY) Garibaldi Resources (TSXV:GGI).
Prismo Metals has three current exploration projects: Palos Verdes, Los Pavitos and Hot Breccia. The Palos Verdes property covers 22.77 hectares within the historic Panuco-Copala silver-gold district in Sinaloa, well-known for its numerous veins with historical production. While much of the district has been consolidated by Vizsla Resources, the Palos Verdes project is located near the district’s under-explored northeastern limit.
On January 9, 2023, Vizsla Resources acquired a right of first refusal to purchase the Palos Verdes project through a strategic investment agreement with Prismo Metals. Vizsla's strategic investment consists of a cash payment of $500,000 and the issuance of one million common shares of Vizsla to Prismo. Pursuant to the strategic investment, the two companies formed a technical committee for district-scale exploration of the Panuco silver-gold district consisting of Drs. Gibson and Megaw along with Dr. Jesus Velador, vice president of exploration for Vizsla.
Prismo Metals’ Palos Verdes property includes 700 meters of strike length along the Palos Verdes vein, which has been explored for 250 meters with findings yielding as much as 6.7 grams per ton (g/t) gold and 544 g/t silver from surface and underground sampling. A second vein system may be reflected in a northwest striking alteration zone, offering an additional high-grade exploration target on the property.
In May 2019, the company and ProDeMin entered an option agreement in which Prismo may acquire a 75-percent interest in the Palos Verdes property, and later entered into an agreement to acquire the remaining 25 percent of the property from the original owner. The company conducted a 2,100-meter drill program at Palos Verdes in 2022, designed to test the Palos Verdes vein and a structural intersection with a second vein at depths where it is believed that potential for a large ore shoot is present, similar to the drilling accomplished by Vizsla Silver on their adjacent land package.
Prismo conducted a 15 hole, 2,923-meter drilling program at Palos Verdes in 2023, with the best result being 11,520 silver equivalent (102 g/t gold and 3,100 g/t silver) over 0.5 meters downhole. An alteration study and rock chip sampling program were also conducted and provide evidence that additional mineralization may occur in previously unexplored areas.
The Los Pavitos project is located in the Alamos region of southern Sonora, a well-mineralized area that hosts several active exploration and mining projects. The project consists of one concession covering 5,289 hectares. Early sampling and reconnaissance work has been carried out by previous companies, including Minera Cascabel, and show the presence of high-grade gold assays in at least two target areas.
In 2022 Prismo Metals signed a formal access agreement with Francisco Villa Ejido, the surface owner of the Los Pavitos Project to allow for exploration work and drilling, and completed a mapping, sampling and trenching program in 2023. Thus work paved the way for a first ever drill program at the project in 2023, consisting of 2,370 meters in 25 holes with excellent results.
Prismo acquired the right to earn a 75 percent interest in the Hot Breccia property in early 2023. Hot Breccia lies in the heart of the world-class Arizona copper belt and has historical drilling indicating the potential for a large copper mineralized system.
An airborne Z‐tipper axis electromagnetic (ZTEM) geophysical survey was completed at Hot Breccia. Prismo received assay results for the first batch of samples taken at the project indicating the presence of not only copper mineralization but also gold mineralization associated with gossanous veins and shear zones.The Hot Breccia project is Prismo’s latest acquisition located in the heart of the great Arizona Copper Belt, USA and is located 40 km south of the Resolution deposit and 35 km north of the San Manuel / Kalamazoo deposit and is just a few kilometers from the Hayden Smelter. The Hot Breccia property has the same productive geologic units that host high-grade copper skarn mineralization at the adjacent, past-producing Christmas Mine owned by Freeport. Prismo has the option to earn a 75-percent interest in the Hot Breccia project from Infinitum Copper (TSXV:INFI).
The company completed an airborne Z‐tipper axis electromagnetic (ZTEM) geophysical survey at Hot Breccia in 2023 and received assay results for a first batch of samples taken at the project. The results indicate the presence of not only copper mineralization, but also gold mineralization associated with gossanous veins and shear zones. The ZTEM survey identified a priority drill target in a conductive anomaly at depth.
Following the success of the 2023 ZTEM survey, Prismo received permit approval from the Bureau of Land Management for 10 drill pads to allow for drilling to test the prospective stratigraphy below the cover volcanic rock over a wide area. Assay results for samples taken in February 2024 include 5.69 percent copper, 0.24 g/t gold and 32.8 g/t silver.
Earlier in 2024, Prismo Metals engaged Exploration Technologies (ExploreTech) from San Diego, California to apply xFlare, their artificial intelligence (AI)-optimized drill planning solution, to its Hot Breccia project where a number of features suggest well mineralized Arizona-style copper porphyry lies at depth. Prismo is currently planning an initial 5,000 meter drill program at Hot Breccia.
The company’s Palos Verdes property is located in Southern Sinaloa, roughly 65 kilometers northeast of Mazatlán. The Palos Verdes concession covers 22.77 hectares and is situated within the historic Panuco-Copala mining district, the largest silver producer in Sinaloa.
Mapping and sampling were conducted over the property by ProDeMin. The Palos Verdes vein crops out for about 750 meters along strike and yielded as much as 4.15 g/t gold and 732.7 g/t silver. Before the turn of the century, a 70-meter tunnel was driven along the Palos Verdes vein near the bottom of the Palos Verdes arroyo; a sample of the vein in this adit yielded 6.7 g/t gold and 544 g/t silver. In 2018, ProDeMin completed a diamond drilling program on the property. Notable drill results included 3.75 g/t gold and 1,098 g/t silver for 2.3 meters and 8.42 g/t gold and 2,336 g/t silver for 0.8 meters.
The company has undertaken several drill campaigns at the project, and a total of about 6,052 meters have been drilled in 33 holes to date, including five holes drilled by ProDeMin in 2018. Results indicate the presence of a near-surface high-grade ore shoot in the Palos Verdes vein similar to mineralization in the resources defined by Vizsla Silver in the southwestern portion of the district.
The company, in conjunction with its strategic partner Vizsla Silver (TSXV:VZLA), has planned an expanded drill program with new holes to be drilled from Vizsla Silver’s concessions adjacent to the Palos Verdes concession, targeting the proposed extension of the Palos Verdes ore shoot at depth and a possible extension along strike to the northwest. Prismo Metals is planning on initiating this drill program in August, 2024.
The company’s Los Pavitos project is located in the Alamos region of Southern Sonora, a well-mineralized area that hosts multiple active exploration and mining projects. Los Pavitos consists of one concession covering 5,289 hectares. Early sampling and reconnaissance work has been carried out by previous companies, including Minera Cascabel. The property’s numerous mines and prospect pits indicate historical interest.
Prismo conducted a reconnaissance surface mapping and sampling at the project in 2022 and early 2023. This program consisted of about 1,500 samples and identified 5 main gold and silver mineralized target areas within several kilometer-scale structural zones. A follow up trenching program consisted of 698 meters in 25 trenches with almost 350 samples taken. A first ever drill program at the project was conducted in 2023, with 2,370 meters completed in 25 holes.
High-grade gold assays were encountered at the Santa Cruz target, with 10.2 g/t gold over 6.6 meters in drill hole LP-SC-23-02. A second gold zone was intersected at Las Auras, with 3.58 g/t gold over 1.15 meters within 3.65 meters carrying 2.33 g/t gold and 87.6 g/t silver.
Steve Robertson is a Canadian geologist and mining executive who earned a BSc. in Geology from the University of Alberta. With Imperial Metals for 24 years, he was involved in the development and operation of five mines, including Red Chris in British Columbia. Robertson was awarded the 2016 E.A. Scholz Award for Excellence in Mine Development for his leadership role in development of the Red Chris mine. In 2017, Robertson was the founding CEO of Sun Metals, a Venture Exchange company that went on to discover a copper-gold skarn in British Columbia. He has been on the board of directors of not-for-profit Association for Mineral Exploration BC., and is currently a director of Cassiar Gold and chairman and director of Infinitum Copper.
Alain Lambert, who co-founded Prismo in 2018, is a lawyer by training and has over 35 years of experience in financing and advising small and medium-sized companies operating in various industries including technology, manufacturing, and the natural resources sector. He has been involved in private and public financings totaling more than $1 billion. He has an extensive network of investors, investment bankers, analysts, and investor relations professionals. Lambert acts as an advisor to public and private companies regarding financings, mergers and acquisitions plans, debt structuring as well as going-public transactions. Throughout his career, Lambert has served as a director and member of the audit committee and governance committee of small and medium-sized private and public companies. He holds a Bachelor of Laws degree (LL.B.) from the University of Montréal and a diploma of collegial studies, specializing in administration from the College Jean-de-Brébeuf in Montréal, Québec.
Dr. Craig Gibson has extensive experience in the minerals industry. He received his BS (1984) in earth sciences from the University of Arizona and MS (1987) and PhD (1992) in economic geology and geochemistry from the Mackay School of Mines, University of Nevada, Reno. He co-founded Prospeccion y Desarrollo Minero del Norte, S.A. de CV (ProDeMin) based in Guadalajara, Mexico, in 2009. ProDeMin is a consulting firm providing a broad spectrum of exploration-related services to the mining industry and has been involved in several major precious metal discoveries in Mexico. Gibson is also a director of Garibaldi Resources, a Vancouver-based junior exploration company; a certified professional geologist of the American Association of Professional Geologists; and a qualified person under NI 43-101.
Carmelo Marrelli is the principal of the Marrelli Group, comprising Marrelli Support Services Inc., DSA Corporate Services Inc., DSA Filing Services Limited, Marrelli Press Release Services Limited, Marrelli Escrow Services Inc. and Marrelli Trust Company Limited. The Marrelli Group has delivered accounting, corporate secretarial and regulatory compliance services to listed companies on various exchanges for over twenty years. Marrelli is a chartered professional accountant (CPA, CA, CGA), and a member of the Institute of Chartered Secretaries and Administrators, a professional body that certifies corporate secretaries. He received a bachelor of commerce degree from the University of Toronto. Marrelli acts as the chief financial officer to several issuers on the TSX, TSX Venture Exchange and CSE, as well as non-listed companies, and as a director of select issuers.
Martin Dupuis has over 25 years of experience covering all stages of a project’s life, from exploration through feasibility and engineering studies, construction, mine expansion and operations. Dupuis serves as Vizsla Silver’s chief operating officer. He was instrumental in the oversight and delivery of the company’s maiden resource estimate. Before joining Vizsla Silver, Dupuis was director of geology for Pan American Silver, technical services manager for Aurico Gold, and chief geologist at several other operations.
Jorge Rafael Gallardo-Romero has been a consultant geologist of Cascabel since March 1992. He also acts as Mexico exploration manager of Gainey Capital (since January 2015) and of Minera Goldzone SA de CV (since March 2011). Gallardo-Romero graduated from the University of Sonora with a degree in Geology in 1984.
Maria Yeomans Otero is a geologist who graduated from Universidad de Sonora, Mexico, in 1986, with master's studies in business administration at the same university. She has been a part of the team at Cascabel since 1992 and is now the office manager. She speaks English fluently and has extensive experience in the administration, legal and commercial relations related to mining.
Louis Doyle has over 30 years of experience focused primarily on capital markets and public companies. Since 2016, he has also provided consulting services to private companies seeking listing on Canadian exchanges. Since January 2016, Doyle has been the executive director of Québec Bourse. Between October 1999 and December 2015, he was the vice-president, Montréal of the TSX Venture Exchange. As such, he was responsible for business development and listing activities in the provinces of Québec and Atlantic Canada. During his tenure, he acted as chairman of the TSX Venture listing committee and was a member of the policy committee. Doyle also led the nationwide TSX Venture mentorship program and further acted regularly as a speaker and advisor at conferences and workshops. He also holds directorship roles with two other publicly traded companies. Doyle was granted 150,000 incentive stock options exercisable at $0.165 per share before June 26, 2027. Also, three other directors were each granted 50,000 incentive stock options, exercisable at $0.165 per share before June 26, 2027.
Dr. Peter Megaw is best known as co-founder of MAG Silver and Minaurum Gold. He and his team are credited with MAG Silver’s Juanicipio discovery in the famous Fresnillo District and Excellon Resources’ Platosa mine. He received his doctorate from the University of Arizona and has more than 35 years of experience exploring silver and gold in Mexico. Megaw is a certified professional geologist by the American Institute of Professional Geologists and an Arizona Registered Professional Geologist. He is the author of numerous scientific publications on ore deposits and is a frequent speaker at academic and international exploration conferences. He was awarded the 2017 Thayer Lindsley Award for the 2003 discovery of the Juanicipio silver deposit in the Fresnillo District, ultimately leading to a further 600 million ounces being identified in the immediate area. Megaw also received the Society of Mining Engineers 2012 Robert M. Dreyer Award for excellence in applied economic geology.
Targeting high-grade silver, gold and copper in historic districts in Mexico and Arizona.
(TheNewswire)
Vancouver, British Columbia TheNewswire - June 5th, 2025 Prismo Metals Inc. (the " Company ") (CSE: PRIZ) (OTCQB: PMOMF) is pleased to announce the appointment of Gordon Aldcorn as President, effective immediately.
"I am honored to take on the role of President at Prismo Metals during this exciting phase of the Company's growth," said Mr. Aldcorn. "Prismo has built a compelling portfolio of high-potential precious and base metal projects in Mexico and Arizona, supported by a strong technical foundation and a clear exploration focus. I look forward to working with the Prismo team and valued partners to unlock further value for shareholders and advance our strategic."
With a commitment to responsible mineral exploration and long-term stakeholder engagement, Mr. Aldcorn brings over 20 years of experience in capital markets and junior public company development including the past five years in corporate management of copper/gold exploration projects.
"I am pleased that Gordon has agreed to join Prismo as President, taking over from Steve Robertson who transitions back to being an advisor, a role he took on back in January 2023," said Alain Lambert, CEO of Prismo. "I have known Gordon for many years, and I look forward to working with him to bolster our exploration and capital markets activities."
Prismo Metals Inc. thanks outgoing President Steve Robertson for his service and leadership and is pleased Mr. Robertson will remain with Prismo in an advisory role.
"I look forward to continuing to provide technical guidance in the role of Advisor as we go forward. Prismo's Hot Breccia project remains one of the most compelling copper exploration projects I have seen, and I am committed to helping Prismo move this project forward," said Steve Robertson.
Prismo's priority remains to undertake a 5,000-meter drill program at our Hot Breccia copper project located in the heart of the prolific Arizona Copper Belt. To achieve this important milestone, Prismo continues to engage in discussions with both potential investors and strategic partners already present in our district or wanting to gain a foothold in the district. Regarding our Palos Verdes silver project in Mexico, the Company continues to track the tremendous progress of our strategic partner Vizsla Silver Corp. as they move their exploration activities towards the northeast side of the Panuco district, where Palos Verdes is located. Finally, Prismo has recently been evaluating a select number of projects in North America that can provide tremendous exploration upside at attractive financial conditions.
"Current market conditions are favorable for acquisition of precious metals and copper projects at advantageous terms and conditions. We favor drill ready projects in America close to excellent infrastructure," said Dr. Craig Gibson, Chief Exploration Officer of Prismo. "We feel that being active in exploring a third project would greatly add to shareholder value."
The Board of Directors is confident that Mr. Aldcorn's leadership will further strengthen Prismo's position in the junior exploration space and support the advancement of its flagship Palos Verdes and Hot Breccia projects. Mr. Aldcorn was issued an aggregate of 150,000 restricted share units (the "RSUs"). Each RSU entitles the holder to be issued one Common Share on vesting. The RSUs will vest over one year, with one-third of the Options vesting every three months. Mr. Aldcorn was also granted 650 ,000 stock options (the " Options "). The Options are each exercisable to purchase one common share of the Company at an exercise price of $0.075 for a period of five years. The Options will vest over one year, with one-third of the Options vesting every three months.
About Prismo Metals Inc.
Prismo (CSE: PRIZ) is a mining exploration company focused on advancing its Hot Breccia copper project in Arizona and its Palos Verdes silver project in Mexico.
Please follow @PrismoMetals on , , , Instagram , and
Prismo Metals Inc.
1100 - 1111 Melville St., Vancouver, British Columbia V6E 3V6
Contact:
Alain Lambert, Chief Executive Officer alain.lambert@prismometals.com
Gordon Alcorn, President gordon.aldcorn@prismometals.com
Cautionary Note Regarding Forward-Looking Information
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things: the timing, costs and results of drilling at Hot Breccia.
These forward‐looking statements involve numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things: delays in obtaining or failure to obtain appropriate funding to finance the exploration program at Hot Breccia.
In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that: the ability to raise capital to fund the drilling campaign at Hot Breccia and the timing of such drilling campaign.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. 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 and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
Copyright (c) 2025 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
(TheNewswire)
Vancouver, British Columbia TheNewswire - March 10 2025 Prismo Metals Inc. (CSE:PRIZ, OTCQB: PMOMF) ( " Prismo " or the " Company " ) is pleased to announce that it has completed its previously announced debt settlement transactions with certain creditors of the Company (the " Creditors "), pursuant to which the Company has issued to the Creditors an aggregate of 4,451,175 common shares of the Company (" Common Shares ") at issue prices ranging from $0.075 to $0.23 per Common Share in full and final settlement of accrued and outstanding indebtedness in the aggregate amount of approximately $464,409 (the " Debt Settlement ").
All Common Shares issued pursuant to the Debt Settlement will be subject to a statutory hold period of four months from the date of issuance.
None of the foregoing securities have been and will not be registered under the United States Securities Act of 1933, as amended (the " 1933 Act ") or any applicable state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) or persons in the United States absent registration or an applicable exemption from such registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sale of the foregoing securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Prismo
Prismo (CSE: PRIZ) is mining exploration company focused on two precious metal projects in Mexico (Palos Verdes and Los Pavitos) and a copper project in Arizona (Hot Breccia).
Please follow @PrismoMetals on , , , Instagram , and
Prismo Metals Inc.
1100 - 1111 Melville St., Vancouver, British Columbia V6E 3V6
Contact:
Alain Lambert, Chief Executive Officer alain.lambert@prismometals.com
Steve Robertson, President steve.robertson@prismometals.com
Copyright (c) 2025 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
(TheNewswire)
Vancouver, British Columbia, February 28th, 2025 TheNewswire - Prismo Metals Inc. (the " Company ") (CSE: PRIZ) (OTCQB: PMOMF) is pleased to announce an updated exploration model for its Hot Breccia project in Southern Arizona.
Steve Robertson, President of Prismo Metals stated: "The results of the geophysical survey when taken in conjunction with the historical exploration data and the AI study provide a compelling exploration model for the Hot Breccia project. The data sets complement each other nicely and combine to form a model that is typical of porphyry copper deposits. The additional supportive context of the similarity of Hot Breccia's geologic setting, with the geologic setting at the Resolution deposit, culminates in this being an exciting and high priority exploration target."
The geophysical inversions show a large conductive body and a coincident magnetic low, surrounded by several magnetic highs. Prismo believes that these features can be caused by alteration and metal deposited by the hydrothermal fluids introduced by the multiphase intrusives and they are aligned in a geometry typical of porphyry copper deposits. The magnetic highs appear to be aligned in a northeastern orientation that corresponds to the trend of the surface expression of dike swarms.
Figure 1. Plan view of the Hot Breccia project showing resistivity on the left and magnetics on the right from the ZTEM survey. The outline of the project concessions is shown in yellow. Narrow orange and ochre lines represent dikes in a NE trending dike swarm.
This model is based on an updated analysis of (i) the results of the airborne geophysical survey conducted in 2023 which consisted of data collected with a ZTEM (Z-axis Tipper Electromagnetic) System, (ii) historical exploration data and (iii) the AI study conducted by Prismo in 2024.
Mr. Robertson added: "The copper exploration target at Hot Breccia has geophysical, geochemical and geological features characteristic of many porphyry copper deposits. The project area has a regional setting similar to BHP-Rio Tinto's Resolution copper deposit located 40 kilometers to the northwest of Hot Breccia and which is considered to be one on the greatest copper discoveries in the history of North American mining."
Prismo's Hot Breccia project lies at the heart of the Arizona Copper Belt, which hosts several globally significant porphyry coppers. Examples of these significant deposits are Freeport McMoRan's Miami-Inspiration mining complex, BHP's San Manuel mine, Rio Tinto and BHP's Resolution deposit and others (see Figure 2).
Figure 2. Location of the Hot Breccia Project in the Arizona Copper Belt.
The historical drilling carried out in the mid to late 1970's by a Rio Tinto subsidiary intersected high-grade copper mineralization at depths ranging from 640 to 830 meters below the surface in several holes that targeted one of the magnetic highs, believed to be caused by the magnetite skarn that was cut in the holes and that occurs in xenoliths in cross cutting dikes exposed at the surface. Prismo believes those intercepts cut the periphery of the upper portion of a large mineralized system as interpreted from our exploration program.
Support for the Company's mineralization model at the project comes from several sources, including the results of historical drilling and ground geophysical surveys, distribution of dikes with xenoliths of Cu-bearing skarn, the interpretation of the 2023 ZTEM survey as well as the results of an AI study carried out by Exploration Technologies. The postulated sulfide mineralization measures 1,100 meters by 1,150 meters.
Historical drill holes cut high grade skarn mineralization including 23 meters with 0.54% Cu at 640 meters depth (hole OC-1), 18 m with 1.4% Cu and 4.65% Zn at 830 meters depth (hole OCC-7), and 7.6 m with 1.73% Cu and 0.11% Zn at 703 meters and 4.6 meters with 1.4% Cu and 0.88% Zn at 716 meters (OCC-8). Mineralization occurs within a several hundred-meter-thick altered zone hosted in favorable Paleozoic carbonate rocks that underly a sequence of Cretaceous andesitic volcanic rocks. These carbonates are the same rocks that host the high-grade copper mineralization at Freeport's nearly Christmas mine. The historic drilling intersected a blind mineralized intrusion associated with the skarn mineralization, providing an immediate drill target that is believed to be the source of the mineralization at Hot Breccia (Figure 3). Several magnetic highs in the region surrounding the proposed intrusion may also indicated buried skarn mineralization and provide additional exploration targets.
Figure 3. Schematic cross section at Hot Breccia showing updated interpretation after Barrett (1974).
The Company has budgeted CA $3.0 million to execute a proposed 5,000 metre program. Each drill hole is intended to drill through the entire prospective Paleozoic carbonate stratigraphy into the postulated porphyry body/breccia zone. The exploration team will take advantage of geological information provided by each hole during drilling to refine targeting of subsequent holes.
The Company also announces the resignation of Mr. Rafael Gallardo and Mrs. Guadalupe Yeomans Otero as directors of the Company. Both Mr. Gallardo and Mrs. Otero are employees of Minera Cascabel in Mexico, and their resignation follows the termination of the Los Pavitos option agreement between Minera Cascabel and Prismo announced earlier this week. Prismo intends to nominate a new director prior to the Company's next annual shareholders meeting.
Notes:
(1) Barrett, Larry Frank (1972): Igneous Intrusions and Associated Mineralization in the Saddle Mountain Mining District Pinal County, Arizona. Unpublished Master's Thesis, University of Utah.
(2) Barrett, Larry Frank (1974): Diamond drill hole OC-1, O'Carroll Canyon, Pinal County, Arizona, unpublished internal report, Bear Creek Mining.
About Hot Breccia
The Hot Breccia property consists of 1,420 hectares in 227 contiguous mining claims located in the world class Arizona Copper Belt between several very well understood world-class copper mines including Morenci, Ray and Resolution (Figure 2). Hot Breccia shows many features in common with these neighboring systems, most prominently a swarm of porphyry dikes and series of breccia pipes containing numerous fragments of well copper-mineralized rocks mixed with fragments of volcanic and sedimentary derived from considerable depth. Prismo performed a ZTEM survey last year that identified a very large conductive anomaly directly beneath the breccia outcrops.
Sampling at the project has shown the presence of copper mineralization associated with polylithic breccia pipes that transported fragments of strongly mineralized carbonate rocks to the surface from depths believed to be 400-1,000 meters. Drilling deep holes is necessary to tap into the source of these mineralized fragments found at surface.
Assay results from historic drill holes are unverified as the core has been destroyed, but information has been gathered from memos, photos and drill logs that contain some, but not all, of the assay results and descriptions. Technical information from adjacent or nearby properties does not mean nor does it imply that Prismo will obtain similar results from its own properties.
Data on previous drilling and geophysics is historical in nature and has not been verified, is not compliant with NI 43-101 standards and should not be relied upon; the Company is using the information only as a guide to aid in exploration planning.
QA/QC
Dr. Craig Gibson, PhD., CPG., a Qualified Person as defined by NI-43-01 regulations and Chief Exploration Officer and a director of the Company, has reviewed and approved the technical disclosures in this news release.
About Prismo Metals Inc.
Prismo (CSE: PRIZ) is a mining exploration company focused on advancing its Hot Breccia copper project in Arizona and its Palos Verdes silver project in Mexico.
Please follow @PrismoMetals on , , , Instagram , and
Prismo Metals Inc.
1100 - 1111 Melville St., Vancouver, British Columbia V6E 3V6
Contact:
Alain Lambert, Chief Executive Officer alain.lambert@prismometals.com
Steve Robertson, President steve.robertson@prismometals.com
Cautionary Note Regarding Forward-Looking Information
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things: the timing, costs and results of drilling at Hot Breccia.
These forward‐looking statements involve numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things: delays in obtaining or failure to obtain appropriate funding to finance the exploration program at Hot Breccia.
In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that: the ability to raise capital to fund the drilling campaign at Hot Breccia and the timing of such drilling campaign.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. 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 and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
Copyright (c) 2025 TheNewswire - All rights reserved.
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Vancouver, British Columbia, February 24th, 2025 TheNewswire - Prismo Metals Inc. ("Prismo" or the "Company") (CSE: PRIZ) (OTCQB: PMOMF) today provided an update regarding its projects in Arizona and Mexico, as well as recent corporate activities.
"The priority for Prismo in 2025 remains raising the necessary capital to undertake a 5,000-meter drill program at our Hot Breccia copper project located in the heart of the prolific Arizona Copper Belt", said Alain Lambert, CEO of Prismo.
The Hot Breccia copper project consists of 1,420 hectares in 227 contiguous mining claims located in the world class Arizona Copper Belt surrounded by several very well understood world-class copper mines including Morenci, Ray, San Manuel and Resolution (Figure 1). Hot Breccia shows many features in common with these neighboring systems, most prominently a swarm of porphyry dikes and series of breccia pipes containing fragments of well copper-mineralized rocks mixed with fragments of volcanic and sedimentary units, derived from considerable depth. Prismo performed a ZTEM survey last year that identified a very large conductive anomaly directly beneath the breccia outcrops.
Figure 1. Location of the Hot Breccia Project in the Arizona Copper Belt.
Mr. Lambert added: "Our updated financing strategy includes continuing discussions with both potential investors and strategic partners already present in our district or wanting to gain a foothold in the district. As such, we expect to proceed with a financing on different terms than we contemplated in late 2024 (1) ."
As part of Prismo's financing efforts to fund the proposed drill program at Hot Breccia, the Company confirms its attendance at the upcoming Prospectors & Developers Association of Canada's (PDAC) Convention at the Metro Toronto Convention Centre (MTCC) from Sunday, March 2 to Wednesday, March 5, 2025. The Company encourages attendees to meet the Prismo team at Booth #3145 in the Investor's Exchange.
Palos Verdes
At the Palos Verdes project the fourth phase of drilling by Prismo was undertaken last year. As announced on July 31 st , 2024, Prismo's team mobilized at Palos Verdes in early August and immediately began preparation for the drill program which is a collaborative effort between Prismo and Vizsla Silver. The drill program follows three main target recommendations made by the Panuco Joint Technical Committee comprised of Prismo 's Chief Exploration Officer Dr. Craig Gibson, Vizsla Silver' s VP Exploration Dr. Jesus Velador and Advisor Dr. Peter Megaw. The program has three main goals (See Figs. 2 & 3 below):
Trace the down dip extension of the mineralized shoot defined by previous drilling on the southwest portion of the vein.
Seek continuation of the vein on the northeast extension of the vein across a cross-fault believed to have offset the vein downward.
Test the extreme northeasterly extension of the Palos Verdes vein system near the concession limit adjacent to the historical Jesusita mine.
The Company announced that drilling had begun on September 24, 2024, with a goal to test targets on the Palos Verdes concession utilizing drill pads located on Vizsla's concessions adjacent to Palos Verdes for greater drilling efficiency. Two holes were completed from remote site PV005 to drill downdip from the high-grade mineralized body drilled previously: PV-24-34 was drilled to a depth of 286.5 meters and hole PV-24-35 was drilled to a depth of 318.0 meters. The program was curtailed in late November after slow advances and budgetary considerations. Assay results from the drilling remain pending.
Figure 2: Location and orientation of the proposed drill holes
Figure 3. Geologic and drill hole map of the Palos Verdes and adjacent concessions showing the surface projection of interpreted mineralized shoots based on surface assays and the location of an interpreted high-level alteration assemblage identified in core. Note NW-SE fault in the center of the claim is believed to have dropped-down the NE extension of the vein system. Drill pads for holes to be collared on Vizsla Silver ground are shown in purple and will test target areas indicated on the surface by the red ellipses . The location of new hole PV-24-34 is also shown.
Figure 4. 3D view of the sub-surface at Palos Verdes looking northeasterly at the cross section with drill holes PV-34 and PV-35, showing the palos Verdes vein with areas of >150g/t AgEq in orange and >300 g/t AgEq in red as well as the northwest fault zone.
Shares for Debt Transactions and Options Grant
Prismo also announces that it has entered into debt settlement agreements (the "Settlement Agreements") with certain creditors of the Company (the "Creditors") pursuant to which the Company agreed to issue to the Creditors, and the Creditors agreed to accept, an aggregate of (i) 4,436,175 shares of the Company (each, a "Share") at an average price of $0.105 per Share in full and final settlement of accrued and outstanding indebtedness in the aggregate amount of $460,959 (the "Debt Settlement").
"Sixty-four percent (64%) of the shares to be issued will be issued to Walnut Mines LL, an Arizona corporation ("Walnut") which owns the Hot Breccia claims optioned by Prismo. Walnut has agreed to increase their ownership position in Prismo in lieu of cash to make up for an approximate $284,559 in exploration expenditure shortfall in 2024 as well as postponing a $100,000 option payment. We thank Walnut for their continued support of Prismo and the Hot Breccia project," said Mr. Lambert.
Dr. Linus Keating CPG, the Manager of Walnut stated today, "Walnut is pleased to see Prismo advancing the Hot Breccia project. These partners have contributed good quality technical work that has significantly advanced this important porphyry copper property into a large-scale target. Walnut believes that a positive and ongoing relationship will progress into resounding success."
All securities issued pursuant to the Debt Settlement will be subject to a statutory hold period of four months from the date of issuance, in accordance with applicable policies of the Canadian Securities Exchange.
Prismo announced that it has granted 250,000 Options to a consultant of the Company. The Options are each exercisable to purchase one common share of the Company (a "Common Share") at an exercise price of $0.12 for a period of two years. The Options will vest as of 25% vesting immediately and 25% every three months thereafter.
Los Pavitos
Prismo has provided Minera Cascabel with a notice of termination of the Option Agreement dated October 11 th , 2019. In the current market conditions Prismo is not in a position to support this project, and considering the ongoing funding requirement just to hold the property, it was decided that terminating the option was the best course of action.
Note
(1) See Prismo's news release dated December 2 nd , 2024
Qualified Person
Dr. Craig Gibson, PhD., CPG., a Qualified Person as defined by NI-43-01 regulations has reviewed and approved the technical disclosures in this news release. Dr. Gibson is also Chief Exploration Officer and a director of the Company.
About Prismo
Prismo (CSE: PRIZ) is mining exploration company focused on its Palos Verdes precious metal projects in Mexico and its Hot Breccia copper project in Arizona.
Please follow @PrismoMetals on , , , Instagram , and
Prismo Metals Inc.
1100 - 1111 Melville St., Vancouver, British Columbia V6E 3V6
Contact:
Alain Lambert, Chief Executive Officer alain.lambert@prismometals.com
Steve Robertson, President steve.robertson@prismometals.com
Neither the Canadian Securities Exchange accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things: the timing, costs and results of drilling at Palos Verdes and Hot Breccia. The current drill program is being conducted from a concession not owned by the Company and a change in Vizsla's business plan in the drilling area could negatively impact Prismo.
These forward‐looking statements involve numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, notably delays in obtaining or failure to obtain appropriate funding to finance the exploration program at Hot Breccia.
In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that: Vizsla will continue to work with Prismo to allow for drilling at Palos Verdes, the ability to raise capital to fund the drilling campaign at Hot Breccia and the timing of such drilling campaign.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. 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 and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws.
Copyright (c) 2025 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Prismo Metals (CSE: PRIZ) (OTCQB: PMOMF) would like to cordially invite you to visit us at Booth #704 at the Vancouver Resource Investment Conference (VRIC) to be held at the Vancouver Convention Centre West (1055 Canada Place, Vancouver) on Sunday January 19 - Monday January 20, 2025.
The Vancouver Resource Investment Conference 2025 will feature over 120 expert speakers, including globally respected economists, legendary money managers, and investors.
This year's conference promises an array of exceptional opportunities, including exclusive keynote sessions featuring 120 renowned speakers, unparalleled networking with over 5,000 industry professionals and investors, and interactive exhibits showcasing groundbreaking innovations across the resource sector. Attendees will gain invaluable insights into the commodities landscape, exploring emerging trends in precious metals, energy, critical minerals, and beyond.
For more information and/or to register for the conference please visit: https://cambridgehouse.com/vancouver-resource-investment-conference.
We look forward to seeing you there.
About the Vancouver Resource Investment Conference:
The Vancouver Resource Investment Conference has been the epicenter of junior mining investment in Canada for 25 years and attracts over 5000 mining investors annually. Previous years have been attended by former Prime Minister Stephen Harper and former President of Mexico Felipe Calderon.
The VRIC will include a marketplace of over 300 investment opportunities in the mining industry, spanning early-stage exploration to advanced producing mines.
For further information:
Jason Frame
Manager of Communications
5872252599
jason.frame@prismometals.com
https://prismometals.com/
News Provided by Newsfile via QuoteMedia
Hawthorn Resources Corp. (CSE: HWTN) (OTC Pink: HAWWF) ("Hawthorn" or the "Company") is pleased to announce that, in connection with the recently executed agreement for the acquisition of Stampede Metals Corporation (the "Stampede Acquisition") owner of the Nevada located Prince Silver Project and Stampede Gap Project and previously announced consolidation (the "Consolidation"), the Company will change its name to Prince Silver Corp. (the "Name Change").
The Name Change and Consolidation are expected to take effect within the coming weeks. Upon completion, prior to giving effect to the Stampede Acquisition, the Company will have approximately 16,054,125 shares outstanding and will begin trading under its new name with a new CSE ticker symbol to be disclosed upon acceptance by the CSE.
"Rebranding as Prince Silver Corp. marks a transformative step as we align our corporate identity with the Prince Silver Project, a large-scale silver asset located in one of the world's premier mining jurisdictions," stated Ralph Shearing, P.Geo., President of the Company. "With an impressive previously disclosed Exploration Target and silver prices reaching multi-year highs, we believe this is a great opportunity to unlock significant value for our shareholders."
Fully Subscribed Private Placement
Hawthorn is pleased to report that the private placement of subscription receipts as previously disclosed has been fully subscribed to approximately $4 million (rounded), the maximum raise agreed to within the Stampede Acquisition Agreement. Closing of the private placement subscription receipts is expected to occur within the coming days.
Majority Shareholder Consent Obtained
The Company has obtained shareholder consent letters from shareholders representing over 55% of the issued and outstanding shares of Hawthorn approving the Stampede Acquisition transaction.
Corporate Strategy
The Company's corporate focus is centered on advancing the Prince Silver Project in Nevada, guided by the following strategic pillars:
The Company will provide further updates on exploration plans and key milestones in the coming weeks.
About Hawthorn Resources
Hawthorn is a silver exploration company focused on advancing the Prince Silver Project in Nevada, USA. Mineralization is open in all directions and is near surface. Hawthorn also holds option interest in Broken Handle Project, an early-stage mineral exploration project located southern British Columbia, Canada.
On Behalf of the Board of Directors
Ralph Shearing, Director, President
Tel: 604-764-0965
Email: info@hawthornresources.ca
Forward-Looking Information
Certain statements in this news release are forward-looking statements, including with respect to future plans, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. Some of the specific forward-looking information in this news release includes, but is not limited to, statements with respect to: completion of the Acquisition and related transactions, completion of the proposed financing, proposed drill programs, amendments to the Company's website, property option payments and regulatory and corporate approvals. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions, the ability to manage operating expenses, dependence on key personnel, completion of satisfactory due diligence in respect of the Acquisition and related transactions, and compliance with property option agreements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, the continued availability of capital and financing, litigation, failure of counterparties to perform their contractual obligations, failure to obtain regulatory or corporate approvals, exploration results, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
The CSE has neither approved nor disapproved the contents of this press release and the CSE does not accept responsibility for the adequacy or accuracy of this release.
Investors looking for exposure to the silver price and silver-mining companies should consider silver exchange-traded funds (ETFs).
Spurred by moves in the gold market, safe haven buying as well as increasing demand from industrial sectors, silver saw strong price movements in the first half of 2025, breaching US$37 per ounce for the first time since 2011.
While silver has often been seen as a more approachable precious metal owing to its lower per ounce price, its performance has lagged gains seen in the gold price over the past few years. However, silver stole some of the spotlight in the second quarter of 2025 as it saw significant gains on the back of geopolitical tension and economic uncertainty from the US trade and tariff policy.
Like gold, investors can gain exposure to silver in several ways that each offer their own pros and cons, along with differing costs and risks. For example, investors can purchase physical silver bars or coins, or invest in silver futures.
Another way for investors to diversify their portfolio with silver is to invest ETFs. These products work similarly to mutual funds in that they pool investor resources into an asset. However, as their name suggests, ETFs are traded on exchanges like stocks, making them more accessible to investors.
While ETFs aren’t without risk, they can offer a more stable investment compared to individual stocks thanks to their diversification and the fact that they are often managed and rebalanced.
Silver ETFs come in several forms, such as ones that hold physical silver and ones that hold silver mining, royalty and exploration stocks. Investors looking to start trading silver ETFs should be aware of the options available to them to determine which silver ETF will best suit their precious metals investing needs and risk tolerance.
Here's a brief look at 10 of the top silver ETFs by total assets. The first five ETFs offer exposure to the price of silver, while the last five provide exposure to silver-mining stocks.
Assets and prices for these silver ETFs were collected on June 17, using data from the funds' web pages, and performance data is accurate for the end of Q1 2025.
Total assets: US$17.21 billion
Unit price: US$33.06
The iShares Silver Trust provides investors with access to the silver price performance, using the London Bullion Market Association silver price as its benchmark.
As the iShares Silver Trust’s web page warns, it is not an investment company registered under the Investment Company Act of 1940, or a commodity pool under the Commodity Exchange Act. Because of this, it is not subject to the regulatory requirements that apply to mutual funds or ETFs.
This trust holds 471 million ounces silver bullion and has a five year average annual total return of 18.99 percent.
Total assets: US$7.12 billion
Unit price: US$12.84
The Sprott Physical Silver Trust is an option for investors looking for the security of physical silver without the need to find secure storage.
The ETF is backed by 191.12 million ounces of silver held in trust in fully allocated London Good Delivery silver bars. Additionally, the ETF is fully convertible into physical silver, should investors decide they want the precious metal on hand. However, the fund states that holders "must have enough units to equate to ten 1000 oz silver bars."
The average annual five-year return based on net asset value for the Sprott Physical Silver Trust is 11.67 percent.
Total assets: US$1.92 billion
Unit price: US$34.68
The Aberdeen Standard Physical Silver Shares ETF's investment objective is for its shares to reflect the performance of the silver price less the expenses of the trust's operations. It has an expense ratio of 0.3 percent. This ETF comes with the same warnings as the iShares Silver Trust.
The fund is backed with 45.51 million ounces of silver held with JPMorgan Chase Bank in London in a secured vault. Its five year average annual return comes in at 13.12 percent based on net asset value.
Total assets: US$717.99 million
Unit price: US$48.69
Set up in December 2008 by ProShares, the ProShares Ultra Silver ETF was designed to offer daily investment results that correspond with twice the daily performance of the Bloomberg Silver Subindex. Because of this, the ETF is aimed at investors who are bullish on silver and able to monitor their investments on a daily basis.
The fund uses derivatives such as futures contracts to invest in silver and has an expense ratio of 0.95 percent.
While designed for short term investment, the ETF's average annual five year return based on net asset value stands at 19.98 percent. Investors looking for a more accurate picture of its day-to-day performance can find a chart on the fund's page.
Total assets: US$32.87 million
Unit price: US$25.30
Alongside the creation of the ProShares Ultra Silver ETF in late 2008, ProShares launched its ProShares UltraShort Silver ETF. This fund was designed to provide investors with a hedge against declines in the silver market. It also has an expense ratio of 0.95 percent.
Because the fund is built around providing results at a negative two times daily performance of the Bloomberg Silver Subindex, it is meant for traders who have a high capacity for risk and who are willing to monitor their positions on a daily basis. The fund should be treated in the same way as the Ultra Silver ETF.
This high-volatility fund has an average annual total return of -44.93 percent based on net asset value over the previous five year period. However, as the fund is only meant to be held for very short intervals, this metric is less useful than for other funds. A more accurate picture of its day-to-day performance can be found on the fund's page.
Total assets: US$1.97 billion
Unit price: US$48.66
The Global X Silver Miners ETF gives investors access to a basket of silver-mining and royalty stocks. The ETF benefits from the fact that these companies can climb when the silver price is rising. It also allows investors to avoid the risks associated with individual companies and lets them add geographical diversity to their portfolios.
This ETF has an expense ratio of 0.65 percent, and its top holdings include streaming company Wheaton Precious Metals (TSX:WPM,NYSE:WPM) at a weight of 21.22 percent, Pan American Silver (TSX:PAAS,NYSE:PAAS) at a weight of 12.98 percent and OR Royalties (TSX:OR,NYSE:OR) at 6.1 percent.
The five year average annualized total return for the fund is 11.75 percent.
Total assets: US$1.42 billion
Unit price: US$14.97
The Amplify Prime Junior Silver ETF bills itself as the "first and only ETF to target small cap silver miners." The index provides a benchmark for investors to track public small-cap companies in the silver space.
The ETF has an expense ratio of 0.69 percent and its holdings span Canada, the US and the UK, with key silver companies such as Coeur Mining (NYSE:CDE) at 13.22 percent, First Majestic Silver (TSX:AG,NYSE:AG) at a weight of 10.61 percent and Hecla Mining Company (NYSE:HL) at 8.34 percent.
Over the last five years, the fund's average annualized total return based on net asset value is 3.99 percent.
Total assets: US$314.25 million
Unit price: US$17.96
The iShares MSCI Global Silver and Metals Miners ETF tracks an index composed of global equities of companies primarily engaged in silver exploration or metals mining. The ETF has the lowest expense ratio of the three ETFs focused on silver stocks at 0.39 percent.
The large majority of companies in its holdings, about 69 percent, are traded on Canadian exchanges, and companies on US and Mexican exchanges combine for 27 percent.
The top three holdings for the iShares MSCI Global Silver Miners ETF are Pan American Silver at a weight of 22.98 percent, Industrias Peñoles (BMV:PE&OLES) with a weight of 12.6 percent and Hecla Mining at 8.74 percent.
The fund's average annualized return over the last five year period is 16.2 percent.
Total assets: US$99.9 million
Unit price: US$30.83
Unlike the other silver mining ETFs on the list, the Sprott Silver Miners and Physical Silver Fund has a combination of physical silver holdings as well as equities. The fund launched in January 2025, making it one of the newest entries to the list. Its management fee is 0.65 percent.
This ETF's top holding is its counterpart Sprott Physical Silver Trust, which provides investors exposure to physical silver, at a 15.26 percent weight. Its next-largest holdings are MAG Silver (TSX:MAG) at 13.64 percent and Aya Gold & Silver (TSX:AYA) at 7.61 percent.
Since its inception in January 2025, the fund has a total return of 24.98 percent.
Established in February 2025, the Sprott Active Gold and Silver Miners ETF is designed to provide investors broad access to both gold and silver equities. Additionally, as an active fund, it will see more frequent rebalancing to increase the potential of better returns for investors. Its management fee is 0.89 percent.
The fund's top holdings consist of Coeur Mining weighted at 5.13 percent, OR Royalties at 5 percent and Torex Gold (TSX:TXG) at 4.82 percent.
Since its inception in February, the fund has seen a total return of 27.13 percent.
This is an updated version of an article originally published by the Investing News Network in 2014.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Dean Belder, hold an investment in Sprott Active Gold and Silver Miners ETF.
After being overshadowed by gold early in the year, silver has been in the spotlight in recent weeks.
The white metal broke through the US$37 per ounce mark on Tuesday (June 17) for the first time since May 2011.
Recent economic and geopolitical events have raised analysts’ expectations of a September rate cut from the US Federal Reserve, helping to fuel safe-haven buying of silver and gold.
The central bank has held its benchmark rate at 4.25 to 4.5 percent since November 2024.
Silver price, June 10 to June 17, 2025.
Chart via the Investing News Network.
CME Group's (NASDAQ:CME) FedWatch tool shows more than half of market respondents predict a 0.25 percent cut at the Fed's September meeting, while just 8 percent are expecting the Fed to make a deeper 0.5 percent cut.
The central bank is widely expected to leave rates unchanged at its June and July meetings.
Silver's price surge also comes amid escalating tensions between Israel and Iran. The two countries have come closer to war in recent days, with Israel striking nuclear and military targets deep in Iran.
On Monday (June 16), US President Trump took to Truth Social to urge a complete evacuation of Tehran ahead of planned strikes on targets in the city. He also urged Iran to abandon its nuclear ambitions.
On the economic front, the US Bureau of Labor Statistics released its May consumer price index figures on June 11. The data shows inflationary growth, with the all-items index ticking up to 2.4 percent from 2.3 percent in June.
Growth was tempered mainly by falling prices at the pumps. Additionally, retail prices have yet to feel the full impact of US tariffs as retailers continue to work through stockpiles acquired earlier in the year.
Elsewhere, gold and equity markets weren’t faring as well on Tuesday.
Gold was flat, trading at US$3,385 per ounce. It has surged more than 25 percent this year, setting a slew of new price records, and has continued to trade in elevated territory, fueled by the same conditions as silver’s recent run. However, silver benefits from a lower entry point for investors looking for more affordable safe-haven investments.
The S&P 500 (INDEXSP: INX) was down on Tuesday, recording a 0.78 percent decline to 5,986. The Nasdaq-100 (INDEXNASDAQ: NDX) was also down, falling 0.89 percent to 21,744, and the Dow Jones Industrial Average (INDEXDJX: .DJI) slipped 0.68 percent to 42,222.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
Silver47 Exploration Corp. (TSXV: AGA) (OTCQB: AAGAF) ("Silver47") and Summa Silver Corp. (TSXV: SSVR) (OTCQX: SSVRF) ("Summa") (together, the "Companies") are pleased to announce the closing of the previously announced brokered offering ("Offering") of subscription receipts of Summa (the "Subscription Receipts") at a price of $0.25 per Subscription Receipt for aggregate gross proceeds of $6,900,000, including the full exercise of the over-allotment option.
The Offering was led by Research Capital Corporation ("RCC"), as co-lead agent and sole bookrunner, and together with Haywood Securities Inc., as co-lead agent, on behalf of a syndicate of agents, including Eventus Capital Corp. (collectively, the "Agents").
The Offering is being conducted in connection with Silver47 and Summa entering into an arm's length definitive arrangement agreement dated May 12, 2025 (the "Arrangement Agreement") for an at-market merger, pursuant to which Silver47 and Summa have agreed to combine their respective companies (the "Transaction") by way of a court-approved plan of arrangement. The combined company (the "Combined Company") is expected to continue under the name "Silver47 Exploration Corp."
Under the terms of the Transaction, Summa shareholders will receive 0.452 common shares of Silver47 (each whole share, a "Silver47 Share") in exchange for each Summa common share (each a "Summa Share") held (the "Exchange Ratio").
Each Subscription Receipt will entitle the holder, without payment of any additional consideration and without further action on the part of the holder, upon the satisfaction of the Escrow Release Conditions (as defined herein) to receive one unit of Summa (a "Unit"). Each Unit will consist of one common share of Summa (a "Summa Share") and one-half of one common share purchase warrant (each whole warrant, a "Summa Warrant"). Following the completion of the Transaction, each Summa Warrant will entitle the holder to purchase one common share of Silver47 Share (a "Warrant Share") at a post-Exchange Ratio adjustment exercise price of $0.7964 per Warrant Share until the date that is 24 months following the satisfaction or waiver of the Escrow Release Conditions (defined herein).
The net proceeds of the Offering will be used to fund advancement of the Combined Company's silver project portfolio in the United States, and for working capital and general corporate purposes.
The gross proceeds of the Offering, less the Agents' expenses, 50% of the cash commission and 50% of an advisory fee payable by Summa to RCC will be deposited and held by Odyssey Trust Company (the "Escrow Agent") in an interest bearing account (the "Escrowed Funds") pursuant to the terms of a subscription receipt agreement entered into on the date hereof among Summa and RCC, and the Escrow Agent. The Escrowed Funds (less 50% of the remaining cash commission, 50% of the remaining advisory fee and any remaining costs and expenses of the Agents) will be released from escrow to the Combined Company, as applicable, upon satisfaction of the following conditions (collectively, the "Escrow Release Conditions") by September 15, 2025 or such other date as may be mutually agreed to in writing between Summa, Silver47, and RCC (the "Escrow Release Deadline"), including:
(A) the completion, satisfaction or waiver of all conditions precedent to the Transaction in accordance with the Arrangement Agreement, to the satisfaction of RCC;
(B) the receipt of all required shareholder and regulatory approvals, including, without limitation, the conditional approval of the Exchange for the Transaction;
(C) the securities of the Silver47 or the Combined Company issued in exchange for the securities of Summa not being subject to any statutory or other hold period in Canada;
(D) the representations and warranties of Summa and Silver47 contained in the agency agreement to be entered into in connection with the Offering being true and accurate in all material respects, as if made on and as of the escrow release date; and
(E) Summa, Silver47 and RCC having delivered a joint notice and direction to the Escrow Agent, confirming that the conditions set forth in (A) to (D) above have been met or waived.
If (i) the satisfaction of the Escrow Release Conditions does not occur on or prior by September 15, 2025, or such other date as may be mutually agreed to in writing between Summa, Silver47, and RCC or (ii) Summa has advised RCC and/or the public that it does not intend to proceed with the Transaction (in each case, the earliest of such times being the "Termination Time"), then all of the issued and outstanding Subscription Receipts shall be cancelled and the Escrowed Funds shall be used to pay holders of Subscription Receipts an amount equal to the issue price of the Subscription Receipts held by them (plus an amount equal to a pro rata share of any interest or other income earned thereon). If the Escrowed Funds are not sufficient to satisfy the aggregate purchase price paid for the then issued and outstanding Subscription Receipts (plus an amount equal to a pro rata share of the interest earned thereon), it shall be Summa's sole responsibility and liability to contribute such amounts as are necessary to satisfy any such shortfall.
In connection with the Offering, Summa paid to the Agents a cash commission of 369,150 and issued to the Agents 1,476,000 broker warrants (the "Broker Warrants"). In addition, the Agents received an advisory fee of $37,000 plus tax and 148,000 advisory broker warrants on the same terms as the Broker Warrants. Each Broker Warrant entitles the holder to acquire following closing of the Transaction one Silver47 Share at a post-Exchange ratio adjustment exercise price of $0.5531 per Silver47 Share for a period of 24 months following the waiver of the Escrow Release Conditions.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.
The Subscription Receipts and the Summa Shares, Summa Warrants and Warrant Shares underlying the Subscription Receipts, will be subject to a statutory four-month hold period in accordance with Canadian securities legislation, or until such securities are exchanged or adjusted pursuant to the Transaction.
Certain insiders of Summa acquired Subscription Receipts pursuant to the Offering and as such the Offering is considered a related party transaction with the meaning of TSX Venture Policy 5.9 and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). Neither Summa, nor to the knowledge of Summa after reasonable inquiry, a related party, has knowledge of any material information concerning Summa or its securities that has not been generally disclosed. Summa has relied on exemptions from the formal valuation and minority approval requirements of sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of such insider participation, based on a determination that the fair market value of the participation in the Offering by insiders will not exceed 25% of the market capitalization of the Summa, as determined in accordance with MI 61-101. Summa did not file a material change report more than 21 days before the expected closing of the Offering because the details of the participation therein by related parties of Summa were not settled until shortly prior to closing of the Offering and the parties wished to close on an expedited basis for business reasons.
Technical Disclosure and Qualified Persons
The scientific and technical information contained in this news release with respect to Silver47 has been reviewed and approved by Alex S. Wallis, P.Geo., is Vice President of Exploration for Silver47, a "qualified person" as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). The scientific and technical information contained in this news release with respect to Summa has been reviewed and approved by Galen McNamara, P. Geo., Chief Executive Officer of Summa, a "qualified person" as defined by NI 43-101.
About Silver47
Silver47 Exploration Corp. is a Canadian-based exploration company that wholly-owns three silver and critical metals (polymetallic) exploration projects in Canada and the US. These projects include the Red Mountain Project in southcentral Alaska, a silver-gold-zinc-copper-lead-antimony-gallium VMS-SEDEX project. The Red Mountain Project hosts an inferred mineral resource estimate of 15.6 million tonnes at 7% ZnEq or 335.7 g/t AgEq, totaling 168.6 million ounces of silver equivalent, as reported in the NI 43-101 Technical Report dated January 12, 2024. Silver47 also owns the Adams Plateau Project in southern British Columbia, a silver-zinc-copper-gold-lead SEDEX-VMS project, and the Michelle Project in the Yukon Territory, a silver-lead-zinc-gallium-antimony MVT-SEDEX project. For detailed information regarding the resource estimates, assumptions, and technical reports, please refer to the NI 43-101 Technical Report and other filings available on SEDAR at www.sedarplus.ca. The Silver47 Shares are traded on the TSXV under the ticker symbol AGA.
About Summa
Summa Silver Corp. is a junior mineral exploration company. Summa owns a 100% interest in the Hughes Project located in central Nevada and the Mogollon Project located in southwestern New Mexico. The high-grade past-producing Belmont Mine, one of the most prolific silver producers in the United States between 1903 and 1929, is located on the Hughes Project. The Mogollon Project is the largest historic silver producer in New Mexico. Both projects have remained inactive since commercial production ceased and neither have seen modern exploration prior to Summa's involvement.
Silver47 Contact Information
Gary R. Thompson
Director and CEO
gthompson@silver47.ca
403-870-1166
Silver47 Investor Relations Contact:
Kristina Pillon
info@silver47.ca
Twitter: @Silver47co
LinkedIn: Silver47
Summa Silver Contact Information
Galen McNamara
Chief Executive Officer
info@summasilver.com
www.summasilver.com
Summa Silver Investor Relations Contact:
Giordy Belfiore
Corporate Development and Investor Relations
604-288-8004
giordy@summasilver.com
www.summasilver.com
Follow Summa Silver on X: @summasilver
LinkedIn: https://www.linkedin.com/company/summa-silver-corp/
Website: https://www.summasilver.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward looking and other cautionary statements
Certain information set forth in this news release contains "forward‐looking statements" and "forward‐looking information" within the meaning of applicable Canadian securities legislation and applicable United States securities laws (referred to herein as forward‐looking statements). Except for statements of historical fact, certain information contained herein constitutes forward‐looking statements which includes, but is not limited to, statements with respect to: the potential benefits to be derived from the Transaction, the goals, synergies, strategies, opportunities, profile, mineral resources and potential production, project timelines, prospective shareholding and comparables to other transactions; the closing of the Transaction, including receipt of all necessary court, shareholder and regulatory approvals, and the timing thereof; the future financial or operating performance of the Companies and the Companies' mineral properties and project portfolios; Silver47's intended use of the net proceeds from the sale of Subscription Receipts; the ability to satisfy the Escrow Release Conditions; the anticipated benefits and impacts of the Offering; the results from work performed to date; the estimation of mineral resources and reserves; the realization of mineral resource and reserve estimates; the development, operational and economic results of technical reports on mineral properties referenced herein; magnitude or quality of mineral deposits; the anticipated advancement of the Companies' mineral properties and project portfolios; exploration expenditures, costs and timing of the development of new deposits; underground exploration potential; costs and timing of future exploration; the completion and timing of future development studies; estimates of metallurgical recovery rates; exploration prospects of mineral properties; requirements for additional capital; the future price of metals; government regulation of mining operations; environmental risks; the timing and possible outcome of pending regulatory matters; the realization of the expected economics of mineral properties; future growth potential of mineral properties; and future development plans.
Forward-looking statements are often identified by the use of words such as "may", "will", "could", "would", "anticipate", "believe", "expect", "intend", "potential", "estimate", "budget", "scheduled", "plans", "planned", "forecasts", "goals" and similar expressions. Forward-looking statements are based on a number of factors and assumptions made by management and considered reasonable at the time such information is provided. Assumptions and factors include: the successful completion of the Transaction (including receipt of all regulatory approvals, shareholder and third-party consents), , the integration of the Companies, and realization of benefits therefrom; the Companies' ability to complete its planned exploration programs; the absence of adverse conditions at mineral properties; no unforeseen operational delays; no material delays in obtaining necessary permits; the price of gold remaining at levels that render mineral properties economic; the Companies' ability to continue raising necessary capital to finance operations; and the ability to realize on the mineral resource and reserve estimates. Forward‐looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward‐looking statements. These risks and uncertainties include, but are not limited to: risks related to the Transaction, including, but not limited to, the ability to obtain necessary approvals in respect of the Transaction and to consummate the Transaction; integration risks; general business, economic and competitive uncertainties; the actual results of current and future exploration activities; conclusions of economic evaluations; meeting various expected cost estimates; benefits of certain technology usage; changes in project parameters and/or economic assessments as plans continue to be refined; future prices of metals; possible variations of mineral grade or recovery rates; the risk that actual costs may exceed estimated costs; geological, mining and exploration technical problems; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); title to properties and management's ability to anticipate and manage the foregoing factors and risks. Although the Companies have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in the forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Readers are advised to study and consider risk factors disclosed in Silver47's management's discussion and analysis for the three and six months ended January 31, 2025 and 2024, and Summa's annual information form dated December 20, 2024 for the fiscal year ended August 31, 2024.
There can be no assurance that forward‐looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Companies undertake no obligation to update forward‐looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The forward-looking statements contained herein are presented for the purposes of assisting investors in understanding the Companies' plans, objectives and goals, including with respect to the Transaction, and may not be appropriate for other purposes. Forward-looking statements are not guarantees of future performance and the reader is cautioned not to place undue reliance on forward‐looking statements. This news release also contains or references certain market, industry and peer group data, which is based upon information from independent industry publications, market research, analyst reports, surveys, continuous disclosure filings and other publicly available sources. Although the Companies believes these sources to be generally reliable, such information is subject to interpretation and cannot be verified with complete certainty due to limits on the availability and reliability of raw data, the voluntary nature of the data gathering process and other inherent limitations and uncertainties. The Companies have not independently verified any of the data from third party sources referred to in this news release and accordingly, the accuracy and completeness of such data is not guaranteed.
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
(TSXV: PINN, US: NRGOF, Frankfurt: P9J) – Pinnacle Silver and Gold Corp. (" Pinnacle " or the “ Company ") announces that, in order to conserve capital and improve the balance sheet, it has agreed with certain creditors to accept shares in the company in settlement of their debt. The aggregate number of shares to be issued, subject to TSXV approval, is 2,491,667 at a price of $0.06 per share, for settlement of $149,500.00. All securities issued will be subject to a four-month hold period which will expire on the date that is four months and one day from the date of issue.
The issuance of 2,491,667 common shares to directors and officers of the Company constitutes a "related party transaction" as this term is defined in Multilateral Instrument 61-101: Protection of Minority Securityholders in Special Transactions (" MI 61-101 "). The directors and officers of the Company, acting in good faith, determined that the fair market value of the common shares being issued pursuant to the shares for debt transaction and the consideration being paid is reasonable. The Company intends to rely on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 as neither the fair market value of the common shares nor the debt exceeds 25% of the Company's market capitalization.
About Pinnacle Silver and Gold Corp.
Pinnacle is focused on district-scale exploration for precious metals in the Americas. The addition of the high-grade Potrero gold-silver project in Mexico’s Sierra Madre Belt complements the Company’s project portfolio and provides the potential for near-term production . In the prolific Red Lake District of northwestern Ontario, the Company owns a 100% interest in the past-producing, high-grade Argosy Gold Mine and the adjacent North Birch Project with an eight-kilometre-long target horizon . With a seasoned, highly successful management team and quality projects, Pinnacle Silver and Gold is committed to building long -term , sustainable value for shareholders.
Signed: “Robert A. Archer”
President & CEO
For further information contact :
Email: info@pinnaclesilverandgold.com
Tel.: +1 (877) 271-5886 ext. 110
Website: www.pinnaclesilverandgold.com
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release .
Will the First Majestic Silver (TSX:FR,NYSE:AG) CEO’s silver price prediction of over US$100 per ounce come true?
The silver spot price has surged nearly 30 percent in the first half of 2025 to reach a 13 year high, breaking through the US$36 per ounce mark in early June. The white metal has rallied on growing economic uncertainty amid ongoing geopolitical tensions and US President Donald Trump’s escalating trade war.
Well-known figure Keith Neumeyer, CEO of First Majestic, has frequently said he believes the white metal could climb even further, hitting the US$100 mark or even reaching as high as US$130 per ounce.
Neumeyer has voiced this opinion often in recent years. He put up a US$130 price target in a November 2017 interview with Palisade Radio, and he also discussed it in an August 2022 interview with Wall Street Silver. He has reiterated his triple-digit silver price forecast in multiple interviews with Kitco over the years, including one in March 2023.
In 2024, Neumeyer made his US$100 silver call in a conversation with ITM Trading’s Daniela Cambone at the Prospectors & Developers Association of Canada (PDAC) convention, and in April of that year he acknowledged his reputation as the "triple-digit silver guy" on the Todd Ault Podcast.
At times he’s been even bolder, suggesting in 2016 that silver could reach US$1,000 if gold were to hit US$10,000. More recently, his expected timeline for US$100 silver has been pushed back, but he remains very bullish in the long term.
In order to better understand where Neumeyer’s opinion comes from and whether a triple-digit silver price is really in the cards, it’s important to take a look at the factors that affect the metal’s movements, as well as where prices have been in the past and where other industry insiders think silver could be headed.
First, let’s dive a little deeper into Neumeyer’s US$100 prediction.
Neumeyer believes silver could hit US$100 due to a variety of factors, including its consistent deficit, its industrial demand and how undervalued it is compared to gold.
There’s a significant distance for silver to go before it reaches the success Neumeyer has boldly predicted. In order for the metal to jump to the US$100 mark, its price would have to increase from its current value by around 175 percent.
Neumeyer has previously said he expects a triple-digit silver price in part because he believed the market cycle could be compared to the year 2000, when investors were sailing high on the dot-com bubble and the mining sector was down. He thinks it’s only a matter of time before the market corrects, like it did in 2001 and 2002, and commodities see a big rebound in pricing. It was during 2000 that Neumeyer himself invested heavily in mining stocks and came out on top.
“I’ve been calling for triple-digit silver for a few years now, and I’m more enthused now,” Neumeyer said at an event in January 2020, noting that there are multiple factors behind his reasoning. “But I’m cautiously enthused because, you know, I thought it would have happened sooner than it currently is happening.”
In an August 2022 with Wall Street Silver, he reiterated his support for triple-digit silver and said he's not alone in this optimistic view — in fact, he's been surpassed in that optimism. "I actually saw someone the other day call for US$500 silver," he said. "I'm not quite sure I'm at the level. Give me US$50 first and we'll see what happens after that."
Another factor driving Neumeyer's position is his belief that the silver market is in a deficit. In a May 2021 interview, when presented with supply-side data from the Silver Institute indicating the biggest surplus in silver market history, Neumeyer was blunt in his skepticism. “I think these numbers are made up,” he said. “I wouldn’t trust them at all.”
He pointed out that subtracting net investments in silver exchange-traded products leaves the market in a deficit, and also questioned the methodology behind the institute’s recycling data given that most recycled silver metal comes from privately owned smelters and refineries that typically don’t make those figures public.
"I'm guessing the mining sector produced something in the order of 800, maybe 825 million ounces in 2022," Neumeyer said when giving a Q4 2022 overview for his company. "Consumption numbers look like they're somewhere between 1.2 and 1.4 billion ounces. That's due to all the great technologies, all the newfangled gadgets that we're consuming. Electric vehicles, solar panels, windmills, you name it. All these technologies require silver … that's a pretty big (supply) deficit."
In a December 2023 interview with Kitco, Neumeyer stressed that silver is more than just a poor man's gold and he spoke to silver's important role in electric vehicles and solar cells. In line with this view on silver, First Majestic is a member of a consortium of silver producers that in January 2024 sent a letter to the Canadian government urging that silver be recognized as a critical mineral. Silver's inclusion on the list would allow silver producers to accelerate the development of strategic projects with financial and administrative assistance from the government.
In his 2024 PDAC interview, Neumeyer once again highlighted this sizable imbalance in the silver’s supply-demand picture. “We’re six years into this deficit. The deficit in 2024 looks like it’s gonna be bigger than 2023, and why is that? Because miners aren’t producing enough silver for the needs of the human race,” he said.
More controversially, Neumeyer is of the opinion that the white metal will eventually become uncoupled from its sister metal gold, and should be seen as a strategic metal due to its necessity in many everyday appliances, from computers to electronics, as well as the technologies mentioned above. He has also stated that silver production has gone down in recent years, meaning that contrary to popular belief, he believes the metal is actually a rare commodity.
Neumeyer's March 2023 triple-digit silver call is a long-term call, and he explained that while he believes gold will break US$3,000 this year, he thinks silver will only reach US$30 in 2023. However, once the gold/silver ratio is that unbalanced, he believes that silver will begin to take off, and it will just need a catalyst.
"It could be Elon Musk taking a position in the silver space," Neumeyer said. "There's going to be a catalyst at some time, and headlines in the Wall Street Journal might talk about the silver supply deficit … I don't know what the catalyst will be, but investors and institutions will wake up to the fundamentals of the metal, and that's when it will start to move."
In an August 2023 interview with SilverNews, Neumeyer said banks are holding the silver market down. He pointed to the paper market for the metal, which he said the banks have capped at US$30 even in times of high buying.
"If you want to go and buy 100 billion ounces of (paper) silver, you might not even move the price, because some bank just writes you a contract that says (you own that)," he noted, saying banks are willing to get short because once buying stops, they push the price down to get the investors out of the market and buy the silver back. "... If the miners started pulling their metal out of the current system, then all of a sudden the banks wouldn't know if they're going to get the metal or not, so they wouldn't be taking the same risks they're taking today in the paper markets."
The month after the interview, his company First Majestic launched its own minting facility, named First Mint.
In 2024, gold experienced a resurgence in investor attention as the potential for Fed rate cuts came into view. In his interview with Cambone at PDAC 2024, Neumeyer countered that perception, stating, “There’s a rush into gold because of the de-dollarization of the world. It has nothing to do with the interest rates.”
More recently, in an April 2025 Money Metals podcast, Neumeyer reiterated his belief that the silver market is in an extreme supply deficit and that eventually silver prices will have to rise in order to incentivize silver miners to dig up more of the metal. "You need triple digit silver just to motivate the mining companies to start investing again because the mining companies aren't going to make the investment because there's just so much risk in it," he said.
Several market analysts have raised concerns about this silver supply deficit.
In a March 2025 Investing News Network (INN) interview, Dana Samuelson, president of American Gold Exchange, explained that silver is particularly vulnerable to a supply shock as London Bullion Market Association's physical silver supplies have decreased by 30 to 40 percent, while gold has only lost 3 to 4 percent.
Moreover, in April at the Sprott Silver Conference, Maria Smirnova, senior portfolio manager and chief investment officer at Sprott Asset Management, highlighted the deficit as well. Smirnova explained that silver has been in a supply deficit of 150 million ounces to 200 million ounces annually (or 10 percent to 20 percent of total supply), while production has been stagnant or declining over the past decade. She emphasized that above-ground inventories have declined by nearly 500 million ounces in recent years.
In order to glean a better understanding of the precious metal’s chances of trading around the US$100 range, it’s important to examine the elements that could push it to that level or pull it further away.
The strength of the US dollar and US Federal Reserve interest rate changes are factors that will continue to affect the precious metal, as are geopolitical issues and supply and demand dynamics.
Although Neumeyer believes that the ties that bind silver to gold need to be broken, the reality is that most of the same factors that shape the price of gold also move silver.
For that reason, it’s helpful to look at gold price drivers when trying to understand silver’s price action. Silver is, of course, the more volatile of the two precious metals, but nevertheless it often trades in relative tandem with gold.
Looking first at the Fed, it's useful to understand that higher rates are generally negative for gold and silver, while lower rates tend to be positive. That's because when rates are higher interest shifts to products that can accrue interest.
When the COVID-19 pandemic hit, the Fed cut rates down to zero from 1 to 1.25 percent. However, rising inflation led the Fed and other central banks to hike rates, which negatively impacted gold and silver. In February 2023, the Fed raised rates by just 25 basis points, the smallest hike since March 2022, as Chair Jerome Powell said the process of disinflation has begun. The Fed continued these small rate hikes over the next year with the last in July 2023.
In this leg of the upward cycle of the silver market, Fed interest rate moves have played an oversized role in pumping up silver prices. In early July, as analysts factored in the rising potential for interest rate cuts in the remainder of 2024, silver prices were once again testing May's nearly 12-year high, and they topped US$31 in September in the days leading up to the anticipated first rate cut.
While central bank actions are important for gold, and by extension silver, another key price driver lately has been geopolitical uncertainty. The past few years have been filled with major geopolitical events such as tensions between the US and other countries such as North Korea, China and Iran. The huge economic impact of the COVID-19 pandemic, the banking crisis in early 2023, Russia's ongoing war with Ukraine, and rising tensions in the Middle East brought about by the Israel-Hamas war have been sources of concern for investors.
More recently, Trump's penchant for tariffs has rattled stock markets and ratcheted up the level of economic uncertainty pervading the landscape in 2025. This has proved price positive for gold, bringing silver along for the ride.
However, silver's industrial side can not be ignored. In the current environment, the industrial case of silver is weakening in the short term; but longer term still holds some prospects for larger gains.
Higher industrial demand from emerging sectors due to factors like the transition to renewable energy and the emergence of AI technology will be highly supportive for the metal over the next few years. Solar panels are an especially exciting sector as manufacturers have found increasing the silver content increases energy efficiency.
“Even in the US, the policy really is 'all of the above' — all forms of energy. So I’m not concerned about solar cells diminishing. Could they go flat? Yeah, that’s fine. Flat at 300 million ounces? That’s great demand for silver,” said former Hecla Mining (NYSE:HL) CEO Phil Baker during a May webinar hosted by Simon Catt of Arlington Group.
“(Prime Minister Narendra) Modi made a policy decision a year ago to grow the solar industry in India. So in India, only about 10 percent of their demand for silver is used for industrial purposes. In China, it’s 90 percent, and so what you’re going to have in India is you’re going to see their solar panel growth skyrocket,” he added.
While we can't know if we'll reach a $100 per ounce silver price in the near future, there is support for Neumeyer’s belief that the metal is undervalued and that “ideal conditions are present for silver prices to rise.”
Many are on board with Neumeyer in the idea that silver's prospects are bright, including Gary Savage, President of the Smart Money Tracker Newsletter, who stated during a May 2025 interview with INN that "US$100 is going to be a piece of cake" for silver. He also stated he believes "US$500 is likely sometime ... maybe in three or four years."
So, if the silver price does rise further, can it go that high?
Let’s look at silver’s recent history. The highest price for silver was just under US$50 in the 1970s, and it came close to that level again in 2011. The commodity’s price uptick came on the back of very strong silver investment demand. While it has yet to reach these levels again, the silver price has increased significantly in recent years.
After spending the latter half of the 2010s in the teens, the 2020s have seen silver largely hold above US$20.
In August 2020, the price of silver reached nearly US$28.50 before pulling back again, and moved back up near those heights in February 2021. The price of silver saw a 2022 high point of US$26.46 in February, and passed US$26 again in both May and November 2023. Silver rallied in the later part of the first quarter of 2024, and by April 12 was once again flirting with the US$30 mark as it reached an 11 year high of US$29.26. Despite pulling back to the US$26 level soon after, by October 22 the price of silver had a nice run in the lead up to the election, rising up to US$34.80.
However, a stronger dollar and signs that the Fed might not be so quick to cut interest rates as deeply as expected were seen as price negative for silver. It was in a downward slide for much of the remainder of the year. For much of the first half of 2025, silver has followed gold higher on factors including persistent inflationary pressures brought on by Trump’s aggressive tariff announcements and the ongoing geopolitical risks in the Middle East.
As of June 10, 2025, the price of silver had reached a 13 year high above the US$36 mark, up almost 30 percent since the beginning of the year.
As mentioned, some market experts agree with the triple-digit silver hypothesis.
Substack newsletter writer John Rubino sees the silver supply deficit as not only an issue for the industrial sector, but for the COMEX futures markets as well, which could spark a major rally in the silver price.
"There should be upward price pressure on silver, as the deficit continues and maybe turns into a shortage,” Rubino told INN in a May 2025 interview. “We're using up the previously existing silver, and that means there's just less of it around for the COMEX to satisfy futures contracts who show up and want to turn their contract into silver.”
Rubino explained that there is real danger in an exchange defaulting on delivering physical metal to futures contract traders and needing to pay cash instead. This scenario is likely to trigger panic buying.
He added that he would be shocked if silver didn’t reach US$100 an ounce “somewhere along the way, and it's possible that much higher prices could happen when the panic buying starts.”
When asked by webinar host Catt about where he sees silver at the end of 2025, Sprott (TSX:SII,NYSE:SII) founder Eric Sprott said that he's sure the metal will be trading above US$50. He believes there's no reason to think prices couldn't go even higher given current gold prices and the historical ratio between gold and silver prices.
"Silver used to trade at 15:1 to the price of gold. At today's price of gold that would be over US$200," he said. "I have no reason to think we're not going there. We only mine at 8:1. Why is the price 101:1? It's because it was manipulated, pure and simple. It's going to go back to some very, very low ratio, and the price will so far outperform gold."
Many experts in the space expect silver to perform strongly in the years to come, but don't necessarily see it reaching US$100 or more, especially given the current macroeconomic conditions.
Speaking with INN at PDAC in March 2025, Peter Krauth of Silver Stock Investor and Silver Advisor said he sees serious tightening in the silver market as secondary supplies are depleted and that is beginning to get attention from market participants. At the time, he said this makes the potential for the silver price to revisit US$35 per ounce "very realistic and likely in the first half of (2025)," before moving on to US$40 by the end of the year.
David Morgan of the Morgan Report also sees potential for US$40 silver or higher in 2025. In a March 2025 interview with INN, he explained that once the price of silver can maintain the US$34 price level there will be much less upside resistance as market participants begin to anticipate the potential for further price increases.
However, he cautioned that the market is not acting like one with very little resistance.
Analyst firm InvestingHaven is very bullish on the silver market and is expecting prices to test all-time highs in 2025, moving as high as US$49 per ounce before blasting through new records in the next few years. InvestingHaven even sees the precious metal reaching as high as US$77 in 2027 and US$82 by 2030.
These predictions seem modest compared to Neumeyer's call for silver in the triple digits. However, he is not alone in his thinking. Willem Middelkoop of Commodity Discovery Fund told INN on the sidelines of PDAC that he believes silver could easily reach US$100 sometime over the next decade, advising investors to include physical silver in their portfolio.
"One day the market will run, and if you're not in, you won't win it," Middelkoop said.
As things are now, it seems unlikely silver will ever reach highs of US$1,000 per ounce, which Keith Neumeyer predicted in 2016 could happen if gold ever climbed to US$10,000 per ounce.
This is related to the gold to silver production ratio discussed above. At the time of the 2016 prediction, this ratio was around 1 ounce of gold to 9 ounces of silver, or 1:9. In 2024, it was about 1:7.5.
If silver was priced according to production ratio today, when gold is at US$3,000 silver would be around US$400, or US$333 at 1:9. However, the gold to silver pricing ratio has actually sat around 1:80 to 1:90 recently, and when gold moved above US$3,000 in March 2025, silver was around US$34.
Additionally, even if pricing did change drastically to reflect production rates, gold would need to climb by more than 300 percent from its current price to hit the US$10,000 gold price Neumeyer mentioned back in 2016.
The primary reason that silver is sold at a significant discount to gold is supply and demand, with more silver being mined annually. While silver does have both investment and industrial demand, the global focus on gold as an investment vehicle, including countries stockpiling gold, can overshadow silver.
Additionally, jewelry alone is a massive force for gold demand.
There is an abundance of silver — according to the US Geological Survey, to date 1,740,000 metric tons (MT) of silver have been discovered, while only 244,000 MT of gold have been found, a ratio of about 1 ounce of gold to 7.1 ounces of silver. In terms of output, 25,000 MT of silver were mined in 2024 compared to 3,300 MT for gold. Looking at these numbers, that puts gold and silver production at about a 1:7.5 ratio last year, while the price ratio on June 11, 2025, was around 1:92 — a huge disparity.
Many experts believe that silver is undervalued compared to fellow currency metal gold. As discussed, their production and price ratios are currently incredibly disparate.
While investment demand is higher for gold, silver has seen increasing time in the limelight in recent years, including a 2021 silver squeeze that saw new entrants to the market join in.
Another factor that lends more intrinsic value to silver is that it's an industrial metal as well as a precious metal. It has applications in technology and batteries — both growing sectors that will drive demand higher.
Silver's two sides has been on display in recent years: Silver demand hit record highs in 2022, according to the Silver Institute, with physical silver investment rising by 22 percent and industrial by 5 percent over 2021. For 2023, industrial demand was up 11 percent over the previous year, compared to a 28 percent decline in physical silver investment.
There are merits for both metals, especially as part of a well-balanced portfolio. As many analysts point out, silver has been known to outperform its sister metal gold during times of economic prosperity and expansion.
On the other hand, during economic uncertainty silver values are impacted by declines in fabrication demand.
Silver’s duality as a precious and industrial metal also provides price support. As a report from the CPM Group notes, “it can be seen that silver in fact almost always (but not always) out-performs gold during a gold bull market.”
Warren Buffett's Berkshire Hathaway (NYSE:BRK.A) bought up 37 percent of global silver supply between 1997 and 2006. Silver ranged from US$4 to US$10 during that period.
In fact, between July 1997 and January 1998 alone, the company bought about 129 million ounces of the metal, much of which was for under US$5. Adjusted for inflation, the company's purchases in that window cost about US$8.50 to US$11.50.
There are a variety of ways to get into the silver market. For example, investors may choose to put their money into silver-focused stocks by buying shares of companies focused on silver mining and exploration. As a by-product metal, investors can also gain exposure to silver through some gold companies.
There are also silver exchange-traded funds that give broad exposure to silver companies and the metal itself, while more experienced traders may be interested in silver futures. And of course, for those who prefer a more tangible investment, purchasing physical bullion in silver bar and silver coin form is also an option.
Private investor Don Hansen shared his strategies with INN for investing in precious metals, as well as a guide for building a low-risk gold and silver portfolio.
This is an updated version of an article originally published by the Investing News Network in 2016.
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Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.