Silver prices breached $30/oz in the second half of May 2024 as investor demand drove prices to their highest in more than a decade. Strong imports and low stocks in China reflect robust solar industry demand, which is expected to maintain momentum in China and elsewhere as economies ramp up their clean energy ambitions. With mine supply struggling to keep pace with demand, we believe further price appreciation is likely, making Silver Crown Royalties well-placed to leverage this positive silver market
Silver Crown Royalties (CBOE CA:SCRI,OTCQX:SLCRF,FRA:QS0) is a revenue-generating silver-only royalty company focusing on silver as by-product credits. The company targets royalty originations on producing or near-producing assets in tier 1 jurisdictions. The company has two current sources of revenue (Gold Mountain and Pilar Gold) and continues to build on this foundation, targeting additional operational silver-producing projects.
As a pure-play silver equity company, Silver Crown offers organic growth, exploration upside and dividend payments. The company’s business model includes acquiring a guaranteed amount of silver delivered as a by-product from mining operations, paying a dividend to shareholders, and keeping all excess cash in silver bullion. “An investment in Silver Crown is a protection against currency devaluation,” says Peter Bures, founder, chairman and CEO of Silver Crown.
Diversification is a key strategy for the company, with the objective to grow its portfolio to more than 200 silver-only royalties that pay dividends, creating more value for shareholders.
Silver Crown is led by board members, founders and advisors with hundreds of years of collective experience in world renowned international brokerage, royalty, fund management and mining companies.
In Q2 2023, Silver Crown Royalties entered into a royalty purchase agreement with Gold Mountain Mining (TSX:GMTN;OTC:GMTNF) on 90 percent of the aggregate gross proceeds of silver sold from the Elk Gold Mine. The Elk Gold Project is a past producing and newly permitted mine located approximately 57 km from Merritt, British Columbia. The claims and leases comprising the Elk Gold Project cover over 21,000 hectares.
On August 21, 2023, Silver Crown announced its entry into a definitive agreement providing for 90 percent of the silver sold as a result of the processing of ores extracted from Pilar Gold’s PGDM complex and related milling operations in Goias State, Brazil. Pilar Gold has a portfolio of operations in Brazil with an annual production of ~45,000 oz gold and medium term aspirations to reach 125,000 oz gold per annum. The company acquired its flagship PGDM operation in April 2021, which includes three underground mines, one open-pit project in the development stage, and a 4,500 tpd modern processing facility along with significant associated infrastructure. PGDM uses a "hub and spoke" strategy with satellite mines in the Goiás region, through which it plans to achieve aggressive production growth over the near term.
On January 18, 2024, Silver Crown announced its entry into a royalty purchase agreement with Tucano Gold, whereby Tucano Gold will deliver 90 percent of the payable silver produced, but no less than the cash equivalent of 7,000 oz annually from the Mina Tucano project. Assuming the closing of the transaction, minimum silver equivalent deliveries start on January 1, 2025, and continue for up to 10 years. Mina Tucano is an open-pit gold mining operation, fully equipped with a modern 10,000 tpd gold plant and sizable resources. Up until 2020, it was producing more than 120,000 oz gold per annum at grades of 1.2 to 1.4 grams per ton.
Silver Crown Royalties signed a definitive silver royalty agreement with PPX Mining (TSXV:PPX, BVL:PPX) to acquire royalty for up to 15 percent of the cash equivalent of silver produced from PPX's Igor 4 project in Peru. PPX Mining conducted drilling in late 2017 and early 2018 and discovered a new, shallow, lower-grade gold and silver mineralized zone at Portachuelos, 800 metres south of the Callanquitas resource.
Peter Bures is a geological and mineral engineer with more than 25 years of mining and metals capital market expertise. Recent experience includes CEO at C2C Gold, co-founder and chief business development officer at Star Royalties, director of global mining sales at BMO Capital Markets (New York), and portfolio management at Sentry Investments, where he co-managed several top-ranked funds. He also held various equity research roles, including VP analyst at Canaccord Genuity, HSBC (New York and Toronto), and Orion Securities. Bures began his career as a mining engineer at Placer Dome and is a graduate of BASc Geo. Eng. at the University of Toronto.
Hassnain Raza is a CPA with more than 20 years of financial experience in Canada, the USA, Europe, Asia and the Caribbean, serving both public and private sector clients. Raza is the founding partner of a boutique consulting firm specializing in CFO advisory services to start-ups and SMEs. Previously held senior management and leadership roles at Namaste Technologies and Senior Manager at KPMG. He is the founder and patron of Allama Iqbal Model School in Pakistan, providing free education (kindergarten to grade 10).
Patrick Sullivan is a mining, M&A, and securities lawyer at Osler, Hoskin & Harcourt LLP. With over a decade of experience in the mining sector, he has advised a wide range of clients in connection with joint ventures, options, mineral property acquisition, royalty and streaming agreements, and mineral tenure issues. Sullivan has acted on several of the most significant mining transactions in Canada, including South32 Limited’s $2.1 billion acquisition of Arizona Mining, Washington Companies’ $1.2 billion acquisition of Dominion Diamond, and Hudbay Minerals’ $555 million acquisition of Augusta Resource Corporation.
Wray Carvelas provided 25 years of visionary leadership, developing and implementing ambitious strategic plans. Carelas is the founder and CEO of Ascencia Group, providing strategic and executive leadership development to the mining industry. He is also a director at Heritage Mining. Carvelas’ previous experience includes senior positions at DRA Global responsible for business growth and development in North and South America, as well as KBR, ELB, and De Beers managing development, production and metallurgical (R&D and capital management).
Frank Balint is a seasoned mining executive with over 35 years of broad-ranging experience in the mining industry. He has been involved in all aspects of the mining life cycle and possesses strong technical skills backed up by solid financial experience that have resulted in a strong exploration and acquisition track record. Previously a senior member of the executive team at Inmet for nearly 20 years, he was crucial in executing corporate strategy that saw Inmet grow its market cap to over $5 billion. He was the former director of Wolfden Resources, which was sold to Zinifex for $363 million. Balint is a licensed professional geologist in Ontario, British Columbia, and the Northwest Territories.
Creating the world’s premier silver-only royalty company
(TheNewswire)
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TORONTO, ON TheNewswire - May 20, 2025 Silver Crown Royalties Inc. ( Cboe: SCRI, OTCQX: SLCRF, BF: QS0 ) ( "Silver Crown" "SCRi" the "Corporation" or the "Company" ) is pleased to announce a non-brokered offering (the " Offering ") for gross proceeds of up to C$2,000,000.
The Company intends to issue up to 307,692 units (" Units ") of the Company at a price of C$6.50 per Unit pursuant to the Offering. Each Unit will consist of one common share in the capital of the Company (" Common Share ") and one Common Share purchase warrant (" Warrant "). Each Warrant will be exercisable to acquire one (1) additional Common Share at an exercise price of C$13.00 for a period of three years from the date of the closing of the Offering (the " Expiry Date "). Closing of the Offering will be subject to customary conditions precedent, including the prior approval of Cboe Canada Inc.
Peter Bures, Silver Crown's Chief Executive Officer, commented, "In the current market environment, this financing paves the way to free cash flow in Q4 of this year by facilitating the completion of the second tranche of our silver royalty on PPX Mining Corp.'s Igor 4 project and other growth initiatives."
ABOUT Silver Crown Royalties INC.
Founded by industry veterans, Silver Crown Royalties ( Cboe: SCRI | OTCQX: SLCRF | BF: QS0 ) is a publicly traded, silver royalty company. Silver Crown (SCRi) currently has four silver royalties of which three are revenue-generating. Its business model presents investors with precious metals exposure that allows for a natural hedge against currency devaluation while minimizing the negative impact of cost inflation associated with production. SCRi endeavors to minimize the economic impact on mining projects while maximizing returns for shareholders. For further information, please contact:
Peter Bures, Chairman and CEO
Telephone: (416) 481-1744
Email: pbures@silvercrownroyalties.com
FORWARD-LOOKING STATEMENTS
This release contains certain "forward looking statements" and certain "forward-looking information" as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. Forward-looking statements and information include, but are not limited to, In the current market environment, this financing paves the way to free cash flow in Q4 of this year by facilitating the completion of the second tranche of our silver royalty on PPX Mining Corp.'s Igor 4 project and other growth initiatives" . Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual actions, events or results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the impact of general business and economic conditions; the absence of control over mining operations from which SCRi will purchase gold and other metals or from which it will receive royalty payments and risks related to those mining operations, including risks related to international operations, government and environmental regulation, delays in mine construction and operations, actual results of mining and current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined; accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties or interruptions in operations; SCRi's ability to enter into definitive agreements and close proposed royalty transactions; the inherent uncertainties related to the valuations ascribed by SCRi to its royalty interests; problems inherent to the marketability of gold and other metals; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; industry conditions, including fluctuations in the price of the primary commodities mined at such operations, fluctuations in foreign exchange rates and fluctuations in interest rates; government entities interpreting existing tax legislation or enacting new tax legislation in a way which adversely affects SCRi; stock market volatility; regulatory restrictions; liability, competition, the potential impact of epidemics, pandemics or other public health crises on SCRi's business, operations and financial condition, loss of key employees. SCRi has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. 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 are advised not to place undue reliance on forward-looking statements or information. SCRi undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available.
This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada, the United States or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors. 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. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
CBOE CANADA DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
Copyright (c) 2025 TheNewswire - All rights reserved.
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TORONTO, ON TheNewswire - May 15, 2025 Silver Crown Royalties Inc. ( Cboe: SCRI, OTCQX: SLCRF, BF: QS0 ) ( "Silver Crown" "SCRi" the "Corporation" or the "Company" ) is pleased to announce its interim financial statements and MD&A for the first quarter ended March 31, 2025 which have been filed on SEDAR+ and the Company's website today.
In the first quarter SCRi recorded revenue based on 6,703 silver ounces (C$304,408). This compares favorably to the prior quarter ended December 31, 2024 of 5,350 ounces (C$234,702) and last year's first quarter ended March 31 st , 2024 of 2,350 ounces (C$74,425).
Peter Bures, Silver Crown's Chief Executive Officer, commented, "We continue to be pleased with our revenue growth trajectory and believe this to be sustainable into 2026 with our robust pipeline."
Click Image To View Full Size
Silver Ounce and Revenue Growth Profile
Summary of Quarterly Results
Three Months Ended March 31st, 2025 | Three Months Ended December 31st, 2024 | Three Months Ended March 31st, 2024 | |
Attributable Silver Deliveries | 6,703 1 | 5,350 2 | 2,350 |
% Change (Y/Y and Q/Q) | 185% | 128% | |
Revenue | $304,408 | $234,702 | $74,425 |
% Change (Y/Y and Q/Q) | 309% | 215% |
The Company is also pleased to announce that it has engaged Altitude Capital Partners Inc. (" Altitude ") to provide capital markets advisory, investor relations and shareholder communications services in Canada. The terms of the consulting agreement with Altitude (the " Agreement ") provide for up to a one-year term (terminable on Silver Crown's notice after 6 months), provides for a fixed fee of C$15,000 per month payable by Silver Crown to Altitude for services rendered pursuant to the terms of the Agreement, with $5,000 payable in cash and $10,000 payable in common shares in the capital of Silver Crown (subject to prior approval by Cboe) during the first six months of the Agreement. Additionally, Silver Crown has engaged Independent Trading Group (ITG), Inc. (" ITG ") as market maker pursuant to a market making services agreement (the " MMS Agreement ") to ensure an orderly trading market for the Company's securities listed on Cboe. ITG will be paid a monthly cash fee of $6,500 by the Company in exchange for the provision of such services. Either ITG or the Company may terminate the MMS Agreement on 30 days written notice.
ABOUT Silver Crown Royalties INC.
Founded by industry veterans, Silver Crown Royalties ( Cboe: SCRI | OTCQX: SLCRF | BF: QS0 ) is a publicly traded, silver royalty company. Silver Crown (SCRi) currently has four silver royalties of which three are revenue-generating. Its business model presents investors with precious metals exposure that allows for a natural hedge against currency devaluation while minimizing the negative impact of cost inflation associated with production. SCRi endeavors to minimize the economic impact on mining projects while maximizing returns for shareholders. For further information, please contact:
Peter Bures, Chairman and CEO
Telephone: (416) 481-1744
Email: pbures@silvercrownroyalties.com
FORWARD-LOOKING STATEMENTS
This release contains certain "forward looking statements" and certain "forward-looking information" as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. Forward-looking statements and information include, but are not limited to, SCRi anticipates that Elk Gold will pay this residual amount owing on or before March 31, 2025. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual actions, events or results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the impact of general business and economic conditions; the absence of control over mining operations from which SCRi will purchase gold and other metals or from which it will receive royalty payments and risks related to those mining operations, including risks related to international operations, government and environmental regulation, delays in mine construction and operations, actual results of mining and current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined; accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties or interruptions in operations; SCRi's ability to enter into definitive agreements and close proposed royalty transactions; the inherent uncertainties related to the valuations ascribed by SCRi to its royalty interests; problems inherent to the marketability of gold and other metals; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; industry conditions, including fluctuations in the price of the primary commodities mined at such operations, fluctuations in foreign exchange rates and fluctuations in interest rates; government entities interpreting existing tax legislation or enacting new tax legislation in a way which adversely affects SCRi; stock market volatility; regulatory restrictions; liability, competition, the potential impact of epidemics, pandemics or other public health crises on SCRi's business, operations and financial condition, loss of key employees. SCRi has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. 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 are advised not to place undue reliance on forward-looking statements or information. SCRi undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available.
This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada, the United States or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors. 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. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
CBOE CANADA DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
1 The Minimum Payment due for the first quarter of 2025 on the Company's royalty on the PGDM Complex owned by
a subsidiary Pilar Gold Inc. remains overdue and outstanding.
2 The Minimum Payment due for the fourth quarter of fiscal 2024 on the Company's royalty on the PGDM Complex owned by
a subsidiary Pilar Gold Inc. remains overdue and outstanding.
Copyright (c) 2025 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Silver Crown Royalties Inc. ( Cboe: SCRI, OTCQX: SLCRF, BF: QS0 ) ( "Silver Crown" "SCRi" the "Corporation" or the "Company" ) is pleased to announce that the Company has successfully closed the third and final tranche (" Final Tranche ") of its non-brokered offering of units ( "Units" ) that was previously announced on February 6, 2025 (the "Offering" ) and issued 89,400 Units at a price of C$6.50 per Unit, for gross proceeds of approximately C$581,100
Each Unit consists of one common share ( "Common Share" ) and one Common Share purchase warrant ( "Warrant" ), with each Warrant exercisable to acquire one additional Common Share at an exercise price of C$13.00 for a period of three years from the closing date. A total of 232,248 Units were issued in accordance with the Offering for cumulative gross proceeds of C$1,509,615.
The proceeds from the Final Tranche will be used to partially fund the second tranche of the Company's silver royalty acquisition on the Igor 4 project in Peru, as well as general and administrative expenses. All securities issued are subject to a statutory hold period of four months plus one day from the date of issuance, in accordance with applicable securities legislation. The closing was subject to customary conditions, including the approval of Cboe Canada Inc.
Regarding the receipt of payments from the Company's producing royalties, Silver Crown expects to receive cash payments equivalent to approximately 6,703 ounces of silver in the first quarter of 2025. This is driven by the early payment of the PPX/Igor 4 royalty as well as payments under the Elk Gold Royalty.
ABOUT Silver Crown Royalties INC.
Founded by industry veterans, Silver Crown Royalties ( Cboe: SCRI | OTCQX: SLCRF | BF: QS0 ) is a publicly traded, silver royalty company. Silver Crown (SCRi) currently has four silver royalties of which three are revenue-generating. Its business model presents investors with precious metals exposure that allows for a natural hedge against currency devaluation while minimizing the negative impact of cost inflation associated with production. SCRi endeavors to minimize the economic impact on mining projects while maximizing returns for shareholders. For further information, please contact:
Peter Bures, Chairman and CEO
Telephone: (416) 481-1744
Email: pbures@silvercrownroyalties.com
FORWARD-LOOKING STATEMENTS
This release contains certain "forward looking statements" and certain "forward-looking information" as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. Forward-looking statements and information include, but are not limited to, the proceeds from the Final Tranche will be used to partially fund the second tranche of the Company's silver royalty acquisition on the Igor 4 project in Peru, as well as general and administrative expenses. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual actions, events or results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the impact of general business and economic conditions; the absence of control over mining operations from which SCRi will purchase gold and other metals or from which it will receive royalty payments and risks related to those mining operations, including risks related to international operations, government and environmental regulation, delays in mine construction and operations, actual results of mining and current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined; accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties or interruptions in operations; SCRi's ability to enter into definitive agreements and close proposed royalty transactions; the inherent uncertainties related to the valuations ascribed by SCRi to its royalty interests; problems inherent to the marketability of gold and other metals; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; industry conditions, including fluctuations in the price of the primary commodities mined at such operations, fluctuations in foreign exchange rates and fluctuations in interest rates; government entities interpreting existing tax legislation or enacting new tax legislation in a way which adversely affects SCRi; stock market volatility; regulatory restrictions; liability, competition, the potential impact of epidemics, pandemics or other public health crises on SCRi's business, operations and financial condition, loss of key employees. SCRi has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. 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 are advised not to place undue reliance on forward-looking statements or information. SCRi undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available.
This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada, the United States or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors. 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. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
CBOE CANADA DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
Copyright (c) 2025 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
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Silver Crown Royalties Inc. ( Cboe: SCRI, OTCQX: SLCRF, BF: QS0 ) ( "Silver Crown" "SCRi" the "Corporation" or the "Company" ) is pleased to announce the purchase of 1,000 ounces of physical silver in the spot market as part of its silver exposure strategy
Click Image To View Full Size
Click Image To View Full Size
The purchase was completed at an average price of $30.65 per ounce and reflects an 8% discount to 20-day VWAP and an 11% discount to recent highs. The average price was based on spot price of US$30.15 per ounce plus a premium of US$0.50 per ounce, for a total investment of US$30,650. The physical silver will be stored with Money Metals Depository LLC, with the exact location to be confirmed, potentially at a designated sub-custodian facility managed by the depository.
Photo Credit: MoneyMetals.com
Peter Bures, Silver Crown's Chief Executive Officer, commented, "We strive to maintain an adequate working capital position of at least six months. We feel it is only prudent as a silver only royalty company to convert a portion of that cash to physical silver. SCRi's ultimate vision is to provide a vehicle that serves as a hedge against currency devaluation, and we therefore feel it would be hypocritical to have exposure to 100% fiat money. We appreciate our investors want exposure to silver, not fiat, which they can achieve easily without our assistance. The purchase was made with a cash payment received from PPX effectively converting a cash payment to physical silver bullion delivery."
ABOUT Silver Crown Royalties INC.
Founded by industry veterans, Silver Crown Royalties ( Cboe: SCRI | OTCQX: SLCRF | BF: QS0 ) is a publicly traded, silver royalty company. Silver Crown (SCRi) currently has four silver royalties of which three are revenue-generating. Its business model presents investors with precious metals exposure that allows for a natural hedge against currency devaluation while minimizing the negative impact of cost inflation associated with production. SCRi endeavors to minimize the economic impact on mining projects while maximizing returns for shareholders. For further information, please contact:
Peter Bures, Chairman and CEO
Telephone: (416) 481-1744
Email: pbures@silvercrownroyalties.com
FORWARD-LOOKING STATEMENTS
This release contains certain "forward looking statements" and certain "forward-looking information" as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. Forward-looking statements and information include, but are not limited to, SCRi's ultimate vision is to provide a vehicle that serves as a hedge against currency devaluation, and we therefore feel it would be hypocritical to have exposure to 100% fiat money . Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual actions, events or results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the impact of general business and economic conditions; the absence of control over mining operations from which SCRi will purchase gold and other metals or from which it will receive royalty payments and risks related to those mining operations, including risks related to international operations, government and environmental regulation, delays in mine construction and operations, actual results of mining and current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined; accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties or interruptions in operations; SCRi's ability to enter into definitive agreements and close proposed royalty transactions; the inherent uncertainties related to the valuations ascribed by SCRi to its royalty interests; problems inherent to the marketability of gold and other metals; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; industry conditions, including fluctuations in the price of the primary commodities mined at such operations, fluctuations in foreign exchange rates and fluctuations in interest rates; government entities interpreting existing tax legislation or enacting new tax legislation in a way which adversely affects SCRi; stock market volatility; regulatory restrictions; liability, competition, the potential impact of epidemics, pandemics or other public health crises on SCRi's business, operations and financial condition, loss of key employees. SCRi has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. 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 are advised not to place undue reliance on forward-looking statements or information. SCRi undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available.
This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada, the United States or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors. 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. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
CBOE CANADA DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
Copyright (c) 2025 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
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TORONTO, ON TheNewswire - March 31, 2025 Silver Crown Royalties Inc. ( Cboe: SCRI, OTCQX: SLCRF, BF: QS0 ) (" Silver Crown ", " SCRi ", or the " Company ") is pleased to provide an update on its non-brokered offering of units ("Units ") that was previously announced on February 6, 2025 (the " Offering ").
In connection with the Offering, the Company has successfully closed the second tranche (" Second Tranche ") and issued 75,310 Units at a price of C$6.50 per Unit, for gross proceeds of approximately C$489,515. Each Unit consists of one common share (" Common Share ") and one Common Share purchase warrant (" Warrant "), with each Warrant exercisable to acquire one additional Common Share at an exercise price of C$13.00 for a period of three years from the closing date. The total units issued under this Offering total 142,848 for cumulative gross proceeds of C$928,512.
The proceeds from the Second Tranche will be used to partially fund the second tranche of the Company's silver royalty acquisition on the Igor 4 project in Peru, as well as general and administrative expenses. All securities issued are subject to a statutory hold period of four months plus one day from the date of issuance, in accordance with applicable securities legislation. The closing was subject to customary conditions, including the approval of Cboe Canada Inc.
ABOUT Silver Crown Royalties INC.
Founded by industry veterans, Silver Crown Royalties ( Cboe: SCRI | OTCQX: SLCRF | BF: QS0 ) is a publicly traded, silver royalty company. Silver Crown (SCRi) currently has four silver royalties of which three are revenue-generating. Its business model presents investors with precious metals exposure that allows for a natural hedge against currency devaluation while minimizing the negative impact of cost inflation associated with production. SCRi endeavors to minimize the economic impact on mining projects while maximizing returns for shareholders. For further information, please contact:
Peter Bures, Chairman and CEO
Telephone: (416) 481-1744
Email: pbures@silvercrownroyalties.com
FORWARD-LOOKING STATEMENTS
This release contains certain "forward looking statements" and certain "forward-looking information" as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. Forward-looking statements and information include, but are not limited to, the proceeds from the Second Tranche will be used to partially fund the second tranche of the Company's silver royalty acquisition on the Igor 4 project in Peru, as well as general and administrative expenses. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual actions, events or results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the impact of general business and economic conditions; the absence of control over mining operations from which SCRi will purchase gold and other metals or from which it will receive royalty payments and risks related to those mining operations, including risks related to international operations, government and environmental regulation, delays in mine construction and operations, actual results of mining and current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined; accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties or interruptions in operations; SCRi's ability to enter into definitive agreements and close proposed royalty transactions; the inherent uncertainties related to the valuations ascribed by SCRi to its royalty interests; problems inherent to the marketability of gold and other metals; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; industry conditions, including fluctuations in the price of the primary commodities mined at such operations, fluctuations in foreign exchange rates and fluctuations in interest rates; government entities interpreting existing tax legislation or enacting new tax legislation in a way which adversely affects SCRi; stock market volatility; regulatory restrictions; liability, competition, the potential impact of epidemics, pandemics or other public health crises on SCRi's business, operations and financial condition, loss of key employees. SCRi has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. 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 are advised not to place undue reliance on forward-looking statements or information. SCRi undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available.
This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada, the United States or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors. 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. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
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Locality map illustrating the position of Cobre’s project areas. Green licenses are relevant tothe Transaction, dark grey licenses will be run, and are owned, independently by Cobre.
At Perrinvale, Cobre is exploring a quartz unit with grades up to 99.6 percent silica, which is critical for electronics, solar photovoltaics and semiconductors. A published exploration target of up to 28.3 Mt and encouraging metallurgical results have attracted early interest from potential partners, including Malaysian group GK Silica.
Cobre remains well-positioned financially, with approximately AU$3 million in cash and investments as of March 2025. The company’s shareholder base is tightly held, with insiders owning over 7 percent and cornerstone investor Strata Investment Holdings controlling nearly 20 percent.
For the full analyst report, click here.
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Santo Niño: A New Gold-Silver Discovery Confirmed 900 Metres South of the Santa Elena Plant.
Navidad: Drilling Expands the Mineral Deposit Footprint and Returns Higher-Grade Gold and Silver.
First Majestic Silver Corp. (NYSE: AG) (TSX: AG) (FSE: FMV) (the "Company" or "First Majestic") is pleased to report a second significant discovery of vein-hosted gold and silver mineralization within a year at the Santa Elena property in Sonora, Mexico, and to share additional positive drilling results from the Navidad discovery. The near surface, newly identified Santo Niño vein, located approximately one kilometre south of the Santa Elena mine, marks a significant addition to the district. Resource addition and resource conversion drilling at the Navidad Discovery - completed after maiden Inferred Resource estimate declaration (see news release dated March 31, 2025 substantially increased the size of the mineralized area and several holes returned higher than average grades for the deposit. With the additions of Navidad and Santo Niño, the Santa Elena property now hosts four significant gold-silver deposits: Santa Elena, Ermitaño, Navidad, and Santo Niño, underscoring the growing scale and potential of the district.
"The past twelve months of our exploration activities at Santa Elena have been outstanding," stated Keith Neumeyer, President & CEO of First Majestic. "The Santo Niño discovery marks yet another exciting milestone for the district, and the drilling shows the vein remains open for expansion in most directions. At the same time, step-out drilling at the Navidad Discovery continues to intercept exceptionally high-grade mineralization and expand the resource envelope. Together with the producing Santa Elena and Ermitaño mines, these new deposits confirm Santa Elena as a truly prolific district with tremendous untapped potential. We believe Santo Niño and Navidad will meaningfully extend the mine life and will unlock additional value to the portfolio."
EXPLORATION HIGHLIGHTS FOR SANTO NIÑO AND NAVIDAD
Exploration drilling approximately 900 metres ("m") south of the Santa Elena processing plant has discovered the Santo Niño vein - a large, epithermal quartz-adularia vein hosting gold ("Au") and silver ("Ag") within a newly identified fault zone. Exploration drilling to date has traced the vein over one kilometre ("km") of strike and 400 m down-dip, with thirteen intercepts to date returning significant gold and silver grades. Confirmed mineralization spans more than 600 m along strike and approximately 200 m down dip, and the upside potential is open in multiple directions. Geological characteristics closely mirror those of the Ermitaño deposit, situated approximately 2.2 km to the east-southeast along strike, underscoring the district-scale potential at Santa Elena.
Drilling of the Navidad/Winter vein system, following the maiden Inferred Mineral Resource estimate effective December 31, 2024, expanded the footprint of precious metal mineralization while returning gold and silver grades substantially higher than were reported in the maiden Resource estimate. Drillhole EWUG-25-050 targeted the Winter vein more than 100 m east of prior drilling and intersected some of the highest-grade mineralization ever encountered on the Santa Elena Property: 6.8 m grading 14.8 g/t Au and 642 g/t Ag for an AgEq grade of 1,898 g/t. This interval includes 1.2 m at 29.5 g/t Au and 919 g/t Ag for 3,427 g/t AgEq; and 2.5m at 21.2 g/t Au and 1,093 g/t Ag for 2,897 g/t AgEq. Five additional significant intersections were cut further downhole including that of the Navidad vein. Resource conversion drilling confirms the continuity of precious metal mineralization and, in general, returned significantly higher gold and silver grades than estimated from prior drilling.
KEY DRILLING HIGHLIGHTS
Tables 1-3 below present a selection of drill hole intercepts with significant assay results from drilling at the Santo Niño and Navidad discoveries. All intercepts are true width.
Santo Niño Discovery Highlights
Table 1: Santo Niño Vein Significant Intercepts
| Hole ID | From (m) | To (m) | True Width (m) | Metal Grades |
| SE-24-04 | 471.45 | 473.80 | 1.93 | 3.07 g/t Au and 115 g/t Ag |
| And | 479.80 | 482.40 | 1.99 | 2.69 g/t Au and 59 g/t Ag |
| SE-25-15 | 345.00 | 347.20 | 1.91 | 8.38 g/t Au and 248 g/t Ag |
| Includes 1 | 345.75 | 346.25 | 0.43 | 27.50 g/t Au and 641 g/t Ag |
| SE-25-19 | 363.20 | 364.95 | 1.12 | 2.10 g/t Au and 34 g/t Ag |
| And | 366.25 | 372.30 | 5.24 | 1.51 g/t Au and 81 g/t Ag |
| And | 374.00 | 388.25 | 12.34 | 1.65 g/t Au and 113 g/t Ag |
| SE-25-23 | 376.20 | 378.60 | 1.84 | 4.81 g/t Au and 94 g/t Ag |
Navidad Discovery Highlights
Table 2: Winter Vein Significant Intercepts
| Hole ID | From (m) | To (m) | True Width (m) | Metal Grades |
| EWUG-25-050 | 702.50 | 713.10 | 6.81 | 14.77 g/t Au and 642 g/t Ag |
| Includes 1 | 702.90 | 704.75 | 1.19 | 29.51 g/t Au and 919 g/t Ag |
| Includes 2 | 705.10 | 708.95 | 2.47 | 21.22 g/t Au and 1093 g/t Ag |
| EWUG-25-051 | 569.10 | 575.90 | 5.89 | 11.11 g/t Au and 215 g/t Ag |
| Includes 1 | 569.45 | 569.90 | 0.39 | 17.81 g/t Au and 189 g/t Ag |
| Includes 2 | 571.15 | 572.50 | 1.17 | 24.99 g/t Au and 435 g/t Ag |
| Includes 3 | 573.45 | 573.80 | 0.30 | 12.05 g/t Au and 518 g/t Ag |
| Includes 4 | 574.35 | 575.00 | 0.56 | 16.52 g/t Au and 367 g/t Ag |
Table 3: Navidad Vein Significant Intercepts
| Hole ID | From (m) | To (m) | True Width (m) | Metal Grades |
| EW-24-387 | 1369.65 | 1371.75 | 1.61 | 4.74 g/t Au and 209 g/t Ag |
| EW-25-389 | 1120.95 | 1122.55 | 1.23 | 2.33 g/t Au and 158 g/t Ag |
| EW-25-389 | 1124.65 | 1129.55 | 3.75 | 6.06 g/t Au and 103 g/t Ag |
| EWUG-25-047 | 803.90 | 806.90 | 1.93 | 2.54 g/t Au and 14 g/t Ag |
| EWUG-25-047 | 815.00 | 825.45 | 9.05 | 3.31 g/t Au and 55 g/t Ag |
| EWUG-25-050 | 1017.00 | 1019.50 | 1.25 | 2.75 g/t Au and 314 g/t Ag |
District-Scale Exploration Strategy
Building on the exploration model unveiled in February 2025, our exploration team delivered a second gold and silver discovery in less than 12 months - the Santo Niño vein. By drilling beneath the masking andesitic cover into the prospective rhyolite horizon, geologists intercepted the Santo Niño vein and delineated zones of high-grade mineralization. Large portions of the Santa Elena concession, where this rhyolite is concealed, have not yet been explored, underscoring the district's untapped potential. Figure 1 shows the locations of the two new discoveries within the broader Santa Elena property.
Figure 1: Santa Elena Property Schematic Map of the Santo Niño and Navidad Discovery Areas. Plan View.
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Santo Niño Target
The Santo Niño discovery sits approximately 900 m south of the Santa Elena processing plant and 2.2 km west-northwest of the Ermitaño deposit. Twenty-three diamond drill core holes have been completed to date with thirteen returning significant vein-hosted gold and silver mineralization (Figures 2 and 3). Eleven of those intercepts define a continuous, higher-grade zone in the vein's western upper levels.
Santo Niño is a low-sulphidation, epithermal quartz-adularia vein within the Santo Niño fault zone (Figure 4). Drilling shows the structure strikes north-northwest and dips moderately to the northeast. The vein has now been traced for more than 1 km along strike and 400 m down-dip. Within that envelope, a mineralized core measuring ~600 m along strike by ~220 m down-dip has been identified to date. The average thickness of the mineralized zone is ~4.5 m and ranges from 1 m to 12.3 m. The mineralized area outlined by drilling is located in the western portion of the drill pattern projecting towards surface and the westernmost drill holes have returned some of the highest gold and silver grades. Mineralization remains open to the west and up-dip, while step-out holes on the east side have also intersected additional significant Au-Ag values that are open both eastward and at depth.
The full extent of the Santo Niño vein is yet to be defined, and substantial follow-up drilling is planned for 2025 to test its lateral and vertical potential.
Figure 2: Santo Niño Discovery Details, Santo Niño Vein. (A) Vertical Cross-Section of the Santo Niño Vein looking East. (B) Plan View of the Santo Niño Vein. (C) Long-Section Looking North. Full Projection of Santa Elena Mine Located ~ 1km North from Santo Niño Vein.
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Figure 3: Santo Niño Vein Long Section Looking North with Significant Intercepts Highlighting the Emerging Mineral Discovery.
Santa Elena Mine Projected in the Background for Reference.
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Figure 4: Core Photography of the Sano Niño Quartz-Adularia Vein with Gold and Silver Mineralization Detected by XRF Analysis
Hole SE-25-19 Assay Results: 12.34 m at 1.65 g/t Au and 113 g/t Ag (true width)
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Navidad Target
Drilling in the first half of 2025 has significantly expanded the Navidad/Winter vein system and delivered assay grades that exceed the averages estimated from prior drilling in the maiden Inferred Mineral Resource estimate. Step-out and in-fill holes have now traced the combined structure for 1.3 km along strike and 450 m down-dip, confirming both the lateral continuity and the vertical reach of high-grade mineralization.
The most significant growth has occurred on the eastern flank of the deposit. Since the resource cut-off date, drilling to the east has expanded the Winter vein by 175 m, and the Navidad vein by 325 m, with each step-out hole returning robust precious-metal values (Figure 5).
Three holes highlight the potential for deposit grade increase, and core photos from these holes are shown in Figures 6 and 7:
Structural interpretation indicates that the principal mineral shoots in both veins plunge gently - about 20° toward the east-northeast - and remain open up and down plunge (Figures 8 and 9).
In combination with the emerging Santo Niño discovery, the Navidad/Winter results reinforce Santa Elena's status as a district-scale, multi-deposit system with significant upside. An aggressive drill program, with nine active rigs currently, is in progress for the remainder of 2025, drilling aims to test the full strike length and depth potential of the new discoveries and to explore for additional mineral deposits.
Figure 5: Navidad Vein System Detail. Winter and Navidad Veins. (A) Long-Section of Winter Vein Showing Expansion from Drilling. (B) Plan View of Winter Vein. (C) Long Section of Navidad Vein Showing Expansion from Drilling. (D) Plan View of Navidad Vein.
Full Projection, Long Sections Looking North.
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Figure 6: Core Photography of the Winter Vein with Very High-Grade Gold and Silver Mineralization Detected by XRF Analyzer.
Hole EW-25-050 Assay Results: 6.81 m at 14.77 g/t Au and 642 g/t Ag (true width).
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Figure 7: Core Photography of the Navidad Vein with High-Grade Gold and Silver Mineralization Detected by XRF Analyzer.
Hole EW-25-389 Assay Results: 1.23 m at 2.33 g/t Au and 158 g/t Ag and 3.75 m at 6.06 g/t Au and 103 g/t Ag (true width).
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Figure 8: Winter Vein Long Section Looking Northwest with Significant Intercepts. Green Boundary Represents the Previously Disclosed Inferred Mineral Resource.
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Figure 9: Navidad Vein Long Section Looking Northwest with Significant Intercepts. Green Boundary Represents the Previously Disclosed Inferred Mineral Resource.
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Table 4: Drilling Summary of Significant Gold and Silver Drill Hole Intercepts at Santo Niño and Navidad Discoveries
| Drillhole | Target | Target Type | Significant Intercept | |||||
| From (m) | To (m) | True Length (m) | Au (g/t) | Ag (g/t) | AgEq (g/t) | |||
| Santo Niño Project | ||||||||
| SE-24-04 | Santo Niño Vein 1 | Resource addition | 471.45 | 473.80 | 1.93 | 3.07 | 115 | 376 |
| SE-24-04 | Santo Niño Vein 2 | Resource addition | 479.80 | 482.40 | 1.99 | 2.69 | 59 | 288 |
| SE-24-04 | Santo Niño Vein 3 | Resource addition | 484.35 | 486.00 | 1.26 | 1.12 | 141 | 236 |
| SE-24-04 | Santo Niño Vein 4 | Resource addition | 486.80 | 488.45 | 1.26 | 1.12 | 55 | 151 |
| SE-24-08 | Santo Niño Vein 1 | Resource addition | 558.10 | 559.40 | 1.18 | 1.15 | 30 | 128 |
| SE-24-08 | Santo Niño Vein 2 | Resource addition | 562.70 | 564.00 | 1.18 | 0.53 | 88 | 133 |
| SE-25-10 | Santo Niño Vein 1 | Resource addition | 650.40 | 653.55 | 2.73 | 0.81 | 84 | 153 |
| SE-25-10 | Santo Niño Vein 2 | Resource addition | 655.15 | 659.25 | 3.55 | 0.67 | 93 | 150 |
| SE-25-12 | Vein | Resource addition | 374.00 | 375.70 | 1.2 | 1.39 | 27 | 145 |
| SE-25-12 | Santo Niño Vein | Resource addition | 381.30 | 389.30 | 5.66 | 1.18 | 120 | 221 |
| SE-25-13 | Santo Niño Vein | Resource addition | 492.75 | 495.30 | 2.51 | 1.83 | 41 | 197 |
| SE-25-14 | Santo Niño Vein | Resource addition | 639.95 | 641.55 | 1.03 | 2.69 | 151 | 379 |
| SE-25-15 | Santo Niño Vein | Resource addition | 345.00 | 347.20 | 1.91 | 8.38 | 248 | 960 |
| SE-25-15 | Include 1 | Resource addition | 345.75 | 346.25 | 0.43 | 27.5 | 641 | 2,979 |
| SE-25-16 | Santo Niño Vein | Resource addition | 344.85 | 347.00 | 1.95 | 2.55 | 20 | 237 |
| SE-25-18 | Santo Niño Vein | Resource addition | 396.45 | 398.25 | 1.16 | 1.88 | 120 | 280 |
| SE-25-19 | Vein | Resource addition | 363.20 | 364.95 | 1.12 | 2.1 | 34 | 212 |
| SE-25-19 | Breccia | Resource addition | 366.25 | 372.30 | 5.24 | 1.51 | 81 | 209 |
| SE-25-19 | Santo Niño Vein | Resource addition | 374.00 | 388.25 | 12.34 | 1.65 | 113 | 253 |
| SE-25-21 | Breccia | Resource addition | 386.35 | 388.95 | 2.13 | 2.6 | 58 | 279 |
| SE-25-21 | Santo Niño Vein | Resource addition | 405.35 | 415.20 | 8.07 | 0.8 | 65 | 133 |
| SE-25-22 | Santo Niño Vein 1 | Resource addition | 488.50 | 489.80 | 1.13 | 1.79 | 55 | 208 |
| SE-25-22 | Santo Niño Vein 2 | Resource addition | 492.00 | 495.55 | 3.07 | 2 | 60 | 229 |
| SE-25-23 | Santo Niño Vein | Resource addition | 376.20 | 378.60 | 1.84 | 4.81 | 94 | 503 |
| SE-25-25 | Santo Niño Vein | Resource addition | 421.50 | 424.25 | 1.94 | 1.4 | 66 | 185 |
| Navidad Project | ||||||||
| EW-24-387 | Navidad Vein | Resource addition | 1369.65 | 1371.75 | 1.61 | 4.74 | 209 | 611 |
| EW-24-388 | Vein | Resource addition | 883.20 | 885.80 | 2.25 | 3.92 | 35 | 368 |
| EW-24-388 | Winter Vein | Resource addition | 973.20 | 976.40 | 2.77 | 2.06 | 66 | 241 |
| EW-24-388 | Regalo Vein | Resource addition | 1178.50 | 1179.95 | 1.11 | 1.34 | 98 | 212 |
| EW-24-388 | Navidad Vein | Resource addition | 1201.05 | 1202.65 | 1.39 | 1.84 | 180 | 336 |
| EW-24-388 | Vnlts | Resource addition | 1275.90 | 1277.35 | 1.26 | 0.83 | 83 | 153 |
| EW-25-389 | Navidad Vein | Resource addition | 1120.95 | 1122.55 | 1.23 | 2.33 | 158 | 356 |
| EW-25-389 | Navidad Vein 2 | Resource addition | 1124.65 | 1129.55 | 3.75 | 6.06 | 103 | 618 |
| EW-25-389 | Include | Resource addition | 1125.55 | 1126.15 | 0.46 | 16.1 | 342 | 1,711 |
| EW-25-391 | Vnlts | Resource addition | 996.70 | 998.50 | 1.03 | 1.78 | 117 | 268 |
| EW-25-391 | Navidad Vein 1 | Resource addition | 1010.20 | 1011.45 | 1.13 | 0.85 | 92 | 165 |
| EW-25-391 | Navidad Vein 2 | Resource addition | 1012.80 | 1015.10 | 2.08 | 1.41 | 123 | 242 |
| EW-25-391 | Vein | Resource addition | 1195.10 | 1198.90 | 1.9 | 1.42 | 117 | 237 |
| EWUG-24-047 | Regalo Vein | Resource addition | 803.90 | 806.90 | 1.93 | 2.54 | 14 | 231 |
| EWUG-24-047 | Navidad Vein | Resource conversion | 815.00 | 825.45 | 9.05 | 3.31 | 55 | 337 |
| EWUG-25-050 | Winter Vein | Resource addition | 702.50 | 713.10 | 6.81 | 14.77 | 642 | 1,898 |
| EWUG-25-050 | Include 1 | Resource addition | 702.90 | 704.75 | 1.19 | 29.51 | 919 | 3,427 |
| EWUG-25-050 | Include 2 | Resource addition | 705.10 | 708.95 | 2.47 | 21.22 | 1,093 | 2,897 |
| EWUG-25-050 | Vein | Resource addition | 720.50 | 724.15 | 2.09 | 3.66 | 141 | 452 |
| EWUG-25-050 | Include | Resource addition | 720.50 | 721.05 | 0.32 | 11.01 | 413 | 1,349 |
| EWUG-25-050 | Regalo Vein | Resource addition | 1017.00 | 1019.50 | 1.25 | 2.75 | 314 | 548 |
| EWUG-25-050 | Navidad Vein | Resource addition | 1051.30 | 1057.20 | 3.79 | 0.82 | 100 | 169 |
| EWUG-25-050 | Stockwork | Resource addition | 1068.70 | 1073.30 | 1.94 | 1.86 | 15 | 173 |
| EWUG-25-050 | Stockwork | Resource addition | 1122.10 | 1127.45 | 2.68 | 2.44 | 114 | 322 |
| EWUG-25-051 | Winter Vein | Resource conversion | 569.10 | 575.90 | 5.89 | 11.11 | 215 | 1,159 |
| EWUG-25-051 | Include 1 | Resource addition | 569.45 | 569.90 | 0.39 | 17.81 | 189 | 1,703 |
| EWUG-25-051 | Include 2 | Resource addition | 571.15 | 572.50 | 1.17 | 24.99 | 435 | 2,559 |
| EWUG-25-051 | Include 3 | Resource addition | 573.45 | 573.80 | 0.3 | 12.05 | 518 | 1,543 |
| EWUG-25-051 | Include 4 | Resource addition | 574.35 | 575.00 | 0.56 | 16.53 | 367 | 1,772 |
Notes:
First Majestic's drilling programs follow established Quality Assurance, Quality Control ("QA/QC") insertion protocols with standards, blanks, and duplicates introduced into the sample-stream. After geological logging, all drill core samples are cut in half. One half of the core is submitted to the laboratory for analysis and the remaining half core is retained on-site for verification and reference purposes or for future metallurgical testing.
Core samples were submitted to the SGS laboratory (ISO/IEC 17025:2017) and to the First Majestic Central laboratory (Central laboratory) (ISO 9001:2015). At SGS, gold is analyzed by 30 g or 50 g fire assay atomic absorption finish (GE-FAA30V5, GE-FAA50V5). Results above 10 g/t gold are analyzed by 30 g or 50g fire assay gravimetric finish (GO-FAG30V, GO-FAG50V). Silver is analyzed by 3-acid digest atomic absorption finish (GE-AAS33E50). Results above 100 g/t silver are analyzed by 30 g or 50 g fire assay gravimetric finish (GO-FAG37V, GO-FAG57V). At Central laboratory, gold is analyzed by 30g fire assay atomic absorption finish (AU-AA13). Results above 10 g/t are analyzed by 30 g fire assay gravimetric finish (ASAG-14). Silver is analyzed by 3-acid digestion atomic absorption finish (AAG-13). Results above 100 g/t are analyzed by 30 g fire assay gravimetric finish (ASAG-14, ASAG-13).
For further information concerning QA/QC and data verification matters, key assumptions, parameters, and methods used by the Company to estimate Mineral Reserves and Mineral Resources, and for a detailed description of known legal, political, environmental, and other risks that could materially affect the Company's business and the potential development of Mineral Reserves and Mineral Resources, see the Company's most recently filed Annual Information Form available under the Company's SEDAR+ profile at www.sedarplus.ca and the Company's Annual Report on Form 40-F for the year ended December 31, 2024 filed with the United States Securities and Exchange Commission on EDGAR at www.sec.gov/edgar.
QUALIFIED PERSONS
Gonzalo Mercado, P. Geo., the Company's Vice President of Exploration and Technical Services and a "Qualified Person" as defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"), has reviewed and approved the scientific and technical information contained in this news release. Mr. Mercado has verified the exploration data contained in this news release, including the sampling, analytical and test data underlying such information.
ABOUT FIRST MAJESTIC
First Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States. The Company presently owns and operates four producing underground mines in Mexico: the Cerro Los Gatos Silver Mine (the Company holds a 70% interest in the Los Gatos Joint Venture that owns and operates the mine), the Santa Elena Silver/Gold Mine, the San Dimas Silver/Gold Mine, and the La Encantada Silver Mine, as well as a portfolio of development and exploration assets, including the Jerritt Canyon Gold project located in northeastern Nevada, U.S.A.
First Majestic is proud to own and operate its own minting facility, First Mint, LLC, and to offer a portion of its silver production for sale to the public. Bars, ingots, coins and medallions are available for purchase online at www.firstmint.com, at some of the lowest premiums available.
For further information, contact info@firstmajestic.com, visit our website at www.firstmajestic.com or call our toll-free number 1.866.529.2807.
"signed"
Keith Neumeyer, President & CEO
Cautionary Note Regarding Forward-Looking Statements
This news release contains "forward‐looking information" and "forward-looking statements" under applicable Canadian and U.S. securities laws (collectively, "forward‐looking statements"). These statements relate to future events or the Company's future performance, business prospects or opportunities that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management made in light of management's experience and perception of historical trends. Forward-looking statements in this news release include, but are not limited to, statements with respect to: the full extent of the Santo Niño vein; follow-up drilling planned for 2025; statements relating to potential for grade increase of deposits; potential of drilling programs; and extension of mine life. Assumptions may prove to be incorrect and actual results and future events may differ materially from those anticipated. As such, investors are cautioned not to place undue reliance upon forward-looking statements as there can be no assurance that the plans, assumptions or expectations upon which they are placed will occur. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "forecast", "potential", "target", "intend", "could", "might", "should", "believe" and similar expressions) are not statements of historical fact and may be "forward‐looking statements". Statements concerning proven and probable mineral reserves and mineral resource estimates may also be deemed to constitute forward-looking statements to the extent that they involve estimates of the mineralization that will be encountered as and if the property is developed, and in the case of measured and indicated mineral resources or proven and probable mineral reserves, such statements reflect the conclusion based on certain assumptions that the mineral deposit can be economically exploited.
Actual results may vary from forward-looking statements. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results to materially differ from those expressed or implied by such forward-looking statements, including but not limited to: material adverse changes; general economic conditions including inflation risks; labour relations; relations with local communities; changes in national or local governments; exchange rate fluctuations; environmental risks; requirements for additional capital; outcomes of pending litigation; unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts with the company to perform as agreed; social or labour unrest; changes in commodity prices; and the failure of exploration programs or studies to deliver anticipated results or results that would justify and support continued exploration, studies, development or operations as well as those factors discussed in the section entitled "Description of Business - Risk Factors" in the Company's most recent Annual Information Form for the year ended December 31, 2024 filed with the Canadian securities regulatory authorities under the Company's SEDAR+ profile at www.sedarplus.ca and in the Company's Annual Report on Form 40-F for the year ended December 31, 2024 filed with the United States Securities and Exchange Commission on EDGAR at www.sec.gov/edgar. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.
The Company believes that the expectations reflected in these forward‐looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking statements included herein should not be unduly relied upon. These statements speak only as of the date hereof. The Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws.
Cautionary Note to United States Investors
The Company is a "foreign private issuer" as defined in Rule 3b-4 under the United States Securities Exchange Act of 1934, as amended, and is eligible to rely upon the Canada-U.S. Multi-Jurisdictional Disclosure System, and is therefore permitted to prepare the technical information contained herein in accordance with the requirements of the securities laws in effect in Canada, which differ from the requirements of the securities laws currently in effect in the United States. Accordingly, information concerning mineral deposits set forth herein may not be comparable with information made public by companies that report in accordance with U.S. standards.
Technical disclosure contained in this news release has not been prepared in accordance with the requirements of United States securities laws and uses terms that comply with reporting standards in Canada with certain estimates prepared in accordance with NI 43-101.
NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning the issuer's material mineral projects.
APPENDIX - DRILL HOLE DETAILS
Table A15: Drill Hole Collar Location, Sample Type, Azimuth, Dip and Total Depth
| Drillhole | East | North | Elev | Azimuth | Dip | Depth (m) | Type |
| SE-24-02 | 581524 | 3320066 | 791.72 | 209.59 | -62.09 | 474 | Core |
| SE-24-03 | 581594 | 3319698 | 773.98 | 340.83 | -44.92 | 825 | Core |
| SE-24-04 | 581302 | 3320292 | 813.43 | 153.99 | -64.48 | 530 | Core |
| SE-24-05 | 581511 | 3320379 | 836.80 | 172.33 | -62.45 | 630 | Core |
| SE-24-06 | 581309 | 3320669 | 808.00 | 171.44 | -62.18 | 276 | Core |
| SE-24-07 | 581309 | 3320669 | 800.00 | 177.00 | -45.00 | 840 | Core |
| SE-24-08 | 581797 | 3320344 | 794.00 | 195.07 | -66.09 | 735 | Core |
| SE-25-09 | 581510 | 3320379 | 836.69 | 194.14 | -67.61 | 762 | Core |
| SE-25-10 | 581795 | 3320343 | 784.46 | 196.38 | -74.84 | 711 | Core |
| SE-25-11 | 581304 | 3320292 | 813.42 | 194.92 | -65.15 | 516 | Core |
| SE-25-12 | 581304 | 3320292 | 813.34 | 195.27 | -54.09 | 570 | Core |
| SE-25-13 | 581512 | 3320379 | 836.52 | 159.79 | -44.97 | 555 | Core |
| SE-25-14 | 581797 | 3320348 | 784.53 | 149.63 | -73.57 | 801 | Core |
| SE-25-15 | 581303 | 3320292 | 813.42 | 213.11 | -44.33 | 480 | Core |
| SE-25-16 | 581305 | 3320292 | 813.45 | 190.15 | -44.86 | 723 | Core |
| SE-25-17 | 582068 | 3320192 | 817.75 | 191.08 | -74.84 | 735 | Core |
| SE-25-18 | 581303 | 3320293 | 813.47 | 219.48 | -54.47 | 477 | Core |
| SE-25-19 | 581303 | 3320293 | 813.64 | 227.50 | -43.57 | 441 | Core |
| SE-25-20 | 581797 | 3320347 | 784.24 | 184.06 | -49.45 | 555 | Core |
| SE-25-21 | 581302 | 3320293 | 813.43 | 236.62 | -44.40 | 477 | Core |
| SE-25-22 | 581796 | 3320347 | 784.69 | 206.82 | -51.92 | 561 | Core |
| SE-25-23 | 581307 | 3320292 | 813.70 | 169.61 | -49.20 | 468 | Core |
| SE-25-24 | 581797 | 3320344 | 794.00 | 195.86 | -43.73 | 504 | Core |
| SE-25-25 | 581302 | 3320293 | 813.43 | 171.86 | -60.10 | 462 | Core |
| EW-24-387 | 583232 | 3319766 | 876.92 | 162.71 | -59.82 | 1500 | Core |
| EW-24-388 | 583419 | 3319716 | 871.26 | 174.77 | -58.45 | 1293 | Core |
| EW-25-389 | 582983 | 3319624 | 898.05 | 167.75 | -55.17 | 1272 | Core |
| EW-25-390 | 582913 | 3319501 | 916.44 | 169.95 | -60.03 | 1386 | Core |
| EW-25-391 | 582805 | 3319381 | 909.74 | 165.00 | -55.83 | 1334 | Core |
| EWUG-25-047 | 583639 | 3319413 | 603.12 | 201.42 | -58.99 | 852 | Core |
| EWUG-25-048 | 583666 | 3319415 | 603.35 | 172.63 | -65.66 | 1008 | Core |
| EWUG-25-049 | 583639 | 3319413 | 603.02 | 180.77 | -64.22 | 971.5 | Core |
| EWUG-25-050 | 583667 | 3319415 | 603.24 | 155.44 | -73.90 | 1149 | Core |
| EWUG-25-051 | 583638 | 3319413 | 603.71 | 194.12 | -69.43 | 1200 | Core |
Notes:
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HIGHLIGHTS
Commenting on this exciting opportunity, Rapid Lithium Managing Director, Martin Holland, said:
“We are very pleased to acquire these high-grade silver assets in a strong silver market. We believe there is an exciting opportunity to rapidly unlock the potential of these assets using modern exploration and expanding the resources. These are exciting times to be adding assets of this quality to our portfolio of critical minerals”.
Background of the Transaction
Conrad Resources Pty Ltd and Webbs Resources Pty Ltd own the following tenements which comprise the Conrad Silver Project and the Webbs Silver Project:
Location
The assets are located in the New England Fold Belt in Northern NSW, accessible by sealed road from Glen Innes and Inverell.
Figure 1: Location of the NSW Webbs and Conrad Silver Projects
Webbs Silver Project
The Webbs Silver Project comprises a high-grade silver bearing lode system located in northern New South Wales. The Webbs Silver Project has a mineral resource estimation reported in accordance with JORC 2012 for a total of 14.2 Moz AgEq at 205 g/t AgEq1.
The work completed by SMG and others to date on the Webbs Silver Project deposit including validation of historic data, relogging and surface mapping, and updated grade-alteration modelling has not only significantly improved the understanding of controls on mineralisation at the Webbs Silver Project but has also highlighted a number of compelling targets for resource expansion and new exploration.1
Exploration programs focused on identifying parallel mineralised structures will commence immediately with a micro gravity survey covering the two main high grade silver rich lodes. Drill permitting is underway with six 500m deep diamond drill holes as a first priority will be drilled at the Webbs South and Webbs Main deposits to collect fresh samples for metallurgical testwork and structural information to allow a new JORC Mineral Resource Estimate to be completed as rapidly as possible. Further drilling will follow this work targeting strike and down dip extensions to grow the silver rich resources. Opportunity exists to use new geophysics technologies to search for blind parallel structures. A budget of A$2.5 million will be allocated to Webbs Silver Project to rapidly complete the work programs.
The Webbs Resource Statement1 consists of an Indicated Resource of 0.8 Mt at 179 g/t Ag, 0.18% Cu, 0.62% Pb, 1.19% Zn and an Inferred Resource of 1.3 Mt at 116 g/t Ag, 0.13% Cu, 0.5% Pb and 1.04% Zn. The resources were calculated at a 30 g/t Ag cut-off and reported to 225 m below surface.
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This article includes content from Rapid Lithium, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
First Majestic Silver Corp. (NYSE: AG) (TSX: AG) (FSE: FMV) (the "Company" or "First Majestic") is pleased to announce the voting results for its Annual General Meeting of Shareholders held on Tuesday, May 20, 2025 in Vancouver, British Columbia (the "2025 AGM"). Each of the matters that were voted upon at the 2025 AGM are described in detail in the Company's Management Information Circular dated April 9, 2025 (the "Circular"), which is available on the Company's website at www.firstmajestic.com or at www.firstmajesticagm.com.
A total of 281,059,326 common shares of First Majestic were represented at the 2025 AGM, representing 57.99% of the Company's issued and outstanding common shares as at the record date for the meeting. Shareholders voted in favour of all matters brought before the 2025 AGM, except the non-binding Say on Pay Advisory Vote. The specific voting results were as follows:
NUMBER OF DIRECTORS
| Resolution | Votes For | % For | Votes Against | % Against |
| Set the number of directors of the Company at seven | 278,420,085 | 99.08% | 2,583,362 | 0.92% |
ELECTION OF DIRECTORS
| Director Nominee | Votes For | % For | Votes Withheld | % Withheld |
| Keith Neumeyer | 224,054,100 | 99.23% | 1,744,471 | 0.77% |
| Marjorie Co | 224,137,032 | 99.26% | 1,661,538 | 0.74% |
| Thomas F. Fudge, Jr. | 113,883,442 | 50.44% | 111,915,128 | 49.56% |
| Raymond L. Polman | 224,685,632 | 99.51% | 1,112,938 | 0.49% |
| Colette Rustad | 123,790,198 | 54.82% | 102,008,373 | 45.18% |
| Daniel Muñiz Quintanilla | 224,356,034 | 99.36% | 1,442,535 | 0.64% |
| Ayesha Hira | 224,572,081 | 99.46% | 1,226,489 | 0.54% |
APPOINTMENT OF AUDITOR
| Resolution | Votes For | % For | Votes Withheld | % Withheld |
| Appoint Deloitte LLP, Independent Registered Public Accounting Firm, as auditor for the Company to hold office until the next Annual General Meeting | 267,246,357 | 95.10% | 13,757,109 | 4.90% |
The non-binding advisory resolution with respect to the Company's approach to executive compensation as outlined in the Circular was not approved.
SAY-ON-PAY (non-binding advisory vote)
| Resolution | Votes For | % For | Votes Against | % Against |
| Advisory resolution to approve the Company's approach to executive compensation | 92,599,154 | 41.01% | 133,199,406 | 58.99% |
AYESHA HIRA APPOINTED TO FIRST MAJESTIC'S BOARD OF DIRECTORS
First Majestic is pleased to welcome Ayesha Hira to the Company's Board of Directors, effective May 20, 2025, following her election as a director at our 2025 AGM.
Ms. Hira is a seasoned mining executive with 30 years of experience in the sector. She is currently serving as Interim President & CEO, and Director, of Belo Sun Mining Corp., a TSX-listed gold company. Ms. Hira started her career as a geologist, working on diamond, base metals, and gold exploration projects. She then transitioned into capital markets, working in the global mining teams at CIBC World Markets and RBC Capital Markets with North American, UK, Australian, South African, and European listed mining and steel companies. After sixteen years working in capital markets, Ms. Hira spent nearly four years at Lucara Diamond Corp., a Lundin Group company, where she served as VP, Corporate Development & Strategy, focusing on strategic growth and mergers.
In addition to her experience as an executive, Ms. Hira has also held various board positions, previously serving as a board member of Lucara Botswana and Clara Diamond Solutions, as well as being elected to the board of the Responsible Jewellery Council representing the Mining Forum, and being appointed as a committee member with the Natural Diamond Counsel. Ms. Hira is a Chartered Financial Analyst charter-holder with a Bachelor of Science (Honours) in Geology from Queen's University, Canada, and she holds an ICD.D designation from the Institute of Corporate Directors.
ABOUT FIRST MAJESTIC
First Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States. The Company presently owns and operates four producing underground mines in Mexico: the Cerro Los Gatos Silver Mine (the Company holds a 70% interest in the Los Gatos Joint Venture that owns and operates the mine), the Santa Elena Silver/Gold Mine, the San Dimas Silver/Gold Mine, and the La Encantada Silver Mine, as well as a portfolio of development and exploration assets, including the Jerritt Canyon Gold project located in northeastern Nevada, U.S.A.
First Majestic is proud to own and operate its own minting facility, First Mint, LLC, and to offer a portion of its silver production for sale to the public. Bars, ingots, coins and medallions are available for purchase online at www.firstmint.com, at some of the lowest premiums available.
For further information, contact info@firstmajestic.com, visit our website at www.firstmajestic.com or call our toll free number 1.866.529.2807.
"signed"
Keith Neumeyer, President & CEO
Cautionary Note Regarding Forward Looking Statements
This news release contains "forward‐looking information" and "forward-looking statements" under applicable Canadian and United States securities laws (collectively, "forward‐looking statements"). Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements in this news release include, but are not limited to, statements with respect to: the time and place of the 2025 AGM. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are discussed in the section entitled "Description of the Business - Risk Factors" in the Company's most recent Annual Information Form for the year ended December 31, 2024 filed with the Canadian securities regulatory authorities under the Company's SEDAR+ profile at www.sedarplus.ca, and in the Company's Annual Report on Form 40-F for the year ended December 31, 2024 filed with the United States Securities and Exchange Commission on EDGAR at www.sec.gov/edgar.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise.
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