Silver Tiger Metals (TSXV:SLVR)

Silver Tiger Metals Inc. Announces Bought Deal Financing


Silver Tiger Metals Inc. (TSXV: SLVR) (OTCQX: SLVTF) (the "Company" or "Silver Tiger") is pleased to announce it has entered into an agreement with Stifel Canada and Desjardins Capital Markets, to act as co-lead underwriters (together, the "Co-Lead Underwriters") and joint bookrunners (together with a syndicate of underwriters, the "Underwriters") pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, 45,455,000 common shares of the Company (the "Common Shares") at a price of C$0.33 per Common Share (the "Offering Price") for gross proceeds to the Company of approximately C$15,000,150 (the "Offering").

The Company will grant the Underwriters an option, exercisable, in whole or in part, at any time until and including 30 days following the closing of the Offering, to purchase up to an additional 15% of the Offering. If this option is exercised in full, an additional C$2,250,023 in gross proceeds will be raised pursuant to the Offering and the aggregate gross proceeds of the Offering will be approximately C$17,250,173.

The Company plans to use the net proceeds from the Offering to fund exploration and development expenditures at the Company's El Tigre Project in Mexico, as well as for working capital and general corporate purposes. The Common Shares will be offered by way of a short form prospectus to be filed in all provinces of Canada, except Québec. The Common Shares will also be sold to U.S. buyers on a private placement basis pursuant to an exemption from the registration requirements in Rule 144A of the United States Securities Act of 1933, as amended, and other jurisdictions outside of Canada provided that no prospectus filing or comparable obligation arises.

The Offering is scheduled to close on or about April 14, 2025 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange and the securities regulatory authorities.

The Preliminary and Final Prospectus' will be filed with the securities commissions in each of the provinces of Canada, except Quebec, and will be available on SEDAR+ at www.sedarplus.ca. Alternatively, the Preliminary and Final Prospectus' may be obtained upon request by contacting the Company or Stifel in Canada, attention: ProspectusCanada@stifel.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the "1933 Act") and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act, as amended, and application state securities laws.

About Silver Tiger and the El Tigre Historic Mine District

Silver Tiger Metals Inc. is a Canadian company whose management has more than 25 years' experience discovering, financing and building large hydrothermal silver projects in Mexico. Silver Tiger's 100% owned 28,414 hectare Historic El Tigre Mining District is located in Sonora, Mexico. Principled environmental, social and governance practices are core priorities at Silver Tiger. The El Tigre historic mine district is located in Sonora, Mexico and lies at the northern end of the Sierra Madre silver and gold belt which hosts many epithermal silver and gold deposits, including Dolores, Santa Elena and Las Chispas at the northern end. In 1896, gold was first discovered on the property in the Gold Hill area and mining started with the Brown Shaft in 1903. The focus soon changed to mining high-grade silver veins in the area with production coming from 3 parallel veins the El Tigre Vein, the Seitz Kelley Vein and the Sooy Vein. Underground mining on the middle El Tigre vein extended 1,450 meters along strike and was mined on 14 levels to a depth of approximately 450 meters. The Seitz Kelley Vein was mined along strike for 1 kilometer to a depth of approximately 200 meters. The Sooy Vein was only mined along strike for 250 meters to a depth of approximately 150 meters. Mining abruptly stopped on all 3 of these veins when the price of silver collapsed to less than 20¢ per ounce with the onset of the Great Depression. By the time the mine closed in 1930, it is reported to have produced a total of 353,000 ounces of gold and 67.4 million ounces of silver from 1.87 million tons (Craig, 2012). The average grade mined during this period was over 2 kilograms silver equivalent per ton. The El Tigre silver and gold deposit is related to a series of high-grade epithermal veins controlled by a north-south trending structure cutting across the andesitic and rhyolitic tuffs of the Sierra Madre Volcanic Complex within a broad silver and gold mineralized prophylitic alteration zone developed in the El Tigre Formation that can be up to 150 meters wide. The veins dip steeply to the west and are typically 0.5 meter wide but locally can be up to 5 meters in width. The veins, structures and mineralized zones outcrop on surface and have been traced for 5.3 kilometers along strike in our brownfield exploration area. Historical mining and exploration activities focused on a 1.6 kilometer portion of the southern end of the deposits, principally on the El Tigre, Seitz Kelly and Sooy veins. The under explored Caleigh, Benjamin, Protectora and the Fundadora exposed veins continue north for more than 3 kilometers. Silver Tiger has delivered its maiden 43-101 compliant resource estimate and is currently drilling to update its resource estimate and publish a PEA

VRIFY Slide Deck and 3D Presentation – Silver Tiger's El Tigre Project

VRIFY is a platform being used by companies to communicate with investors using 360° virtual tours of remote mining assets, 3D models and interactive presentations. VRIFY can be accessed by website and with the VRIFY iOS and Android apps. Access the Silver Tiger Metals Inc. Company Profile on VRIFY at: https://vrify.com The VRIFY Slide Deck and 3D Presentation for Silver Tiger Metals Inc. can be viewed at: https://vrify.com/explore/decks/492 and on the Corporation's website at: www.silvertigermetals.com.

Procedure, Quality Assurance / Quality Control and Data Verification

The diamond drill core (HQ size) is geologically logged, photographed and marked for sampling. When the sample lengths are determined, the full core is sawn with a diamond blade core saw with one half of the core being bagged and tagged for assay. The remaining half portion is returned to the core trays for storage and/or for metallurgical test work. The sealed and tagged sample bags are transported to the Bureau Veritas facility in Hermosillo, Mexico. Bureau Veritas crushes the samples (Code PRP70-250) and prepares 200-300 gram pulp samples with ninety percent passing Tyler 200 mesh (Code PUL85). The pulps are assayed for gold using a 30-gram charge by fire assay (Code FA430) and over limits greater than 10 grams per tonne are re-assayed using a gravimetric finish (Code FA530). Silver and multi-element analysis is completed using total digestion (Code MA200 Total Digestion ICP). Over limits greater than 100 grams per tonne silver are re-assayed using a gravimetric finish (Code FA530). Quality assurance and quality control ("QA/QC") procedures monitor the chain-of-custody of the samples and includes the systematic insertion and monitoring of appropriate reference materials (certified standards, blanks and duplicates) into the sample strings. The results of the assaying of the QA/QC material included in each batch are tracked to ensure the integrity of the assay data. All results stated in this announcement have passed Silver Tiger's QA/QC protocols.

Qualified Person

David R. Duncan, P. Geo., V.P. Exploration of the Corporation, is the Qualified Person for Silver Tiger as defined under National Instrument 43-101. Mr. Duncan has reviewed and approved the scientific and technical information in this press release.

CAUTIONARY STATEMENT:

Neither 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. This News Release includes certain "forward-looking statements". All statements other than statements of historical fact included in this release, including, without limitation, statements regarding potential mineralization, resources and reserves, the ability to convert inferred resources to indicated resources, the ability to complete future drilling programs and infill sampling, the ability to extend resource blocks, the similarity of mineralization at El Tigre to Delores, Santa Elena and Chispas, exploration results, and future plans and objectives of Silver Tiger, are forward-looking statements that involve various risks and uncertainties. Forwardlooking statements are frequently characterized by words such as "may", "is expected to", "anticipates", "estimates", "intends", "plans", "projection", "could", "vision", "goals", "objective" and "outlook" and other similar words. Although Silver Tiger believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, there can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Silver Tiger's expectations include risks and uncertainties related to exploration, development, operations, commodity prices and global financial volatility, risk and uncertainties of operating in a foreign jurisdiction as well as additional risks described from time to time in the filings made by Silver Tiger with securities regulators.


Source

SLVR:CA
The Conversation (0)

Silver Tiger Intersects 1.0 Metre of 12,851.5 G/T Silver Equivalent Within 16.0 Metres of 875.6 G/T Silver Equivalent in the Tigre Vein and Keel Zone

Silver Tiger Metals Inc. (TSXV:SLVR)(OTCQX:SLVTF) ("Silver Tiger" or the "Company") is pleased to provide an update on the first 95 drill holes for the Company's ongoing Pre-Feasibility Study ("PFS") drilling program on the Stockwork deposit on its El Tigre Project in Sonora, Mexico. These new results are highlighting the high-grade mineralization beneath the floor of the 2023 PEA Open Pit in the Keel Zone and expansion of the PEA Starter Pit to the north

Drill hole ET-24-568 cut 16.0 metres grading 875.6 g/t silver equivalent or 11.67 g/t gold equivalent from 155.0 to 171.0 metres, consisting of 409.9 g/t silver and 6.21 g/t gold and INCLUDING 1.0 metres grading 12,851.5 g/t silver equivalent or 171.35 g/t gold equivalent from 161.0 to 162.0 metres consisting of 6,034.0 g/t silver and 90.90 g/t gold and in the Keel Zone (Figures 1 & 2). The hole passed through the El Tigre vein located some 15m beneath the floor of the PEA Open Pit and is referred to as the Keel Zone.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less

Silver Tiger Intersects 32.0 Meters of 1.36 G/T Gold Equivalent Within 81.1 Meters of 0.94 G/T Gold Equivalent in the Stockwork Zone

Silver Tiger Metals Inc. (TSXV:SLVR)(OTCQX:SLVTF) ("Silver Tiger" or the "Company") is pleased to provide an update on the Company's ongoing Pre-Feasibility Study ("PFS") drilling program on the Stockwork gold deposit on its El Tigre Project in Sonora, Mexico. Silver Tiger has completed 23,500 metres of a 25,000 metre drilling program focused on expanding the Mineral Resource, up-grading the classification, completing metallurgical testwork and geotechnical studies as it progresses from an exploration to a development project. The value-added PFS progress is on schedule for publication in H2-2024

Three main areas of the Stockwork gold deposit are being targeted and show potential for expansion: a) the footwall, b) the hanging wall and c) bottom ‘keel'. After releasing the first 75 drill holes of the program, the Company is pleased to announce conversion, expansion and derisking of the potential ‘Starter Stockwork Zone'.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less

Silver Tiger Provides Update on Pre-Feasibility Study Mineral Resource Drilling

Silver Tiger Metals Inc. (TSXV:SLVR) and (OTCQX:SLVTF) ("Silver Tiger" or the "Company") is pleased to provide an update on the Company's ongoing Pre-Feasibility Study ("PFS") drilling program on the Stockwork gold deposit on its El Tigre Project in Sonora, Mexico. Silver Tiger has completed 23,000 metres of a 25,000 metre drilling program focused on expanding the Mineral Resource, up-grading the classification, completing metallurgical test work and geotechnical studies as it progresses from an exploration to a development project. The value-added PFS progress is on schedule for publication in H2-2024

Three main areas of the Stockwork gold deposit are being targeted and show potential for expansion: a) the footwall, b) the hanging wall and c) bottom ‘keel'. After releasing the first 55 drill holes of the program, the Company is pleased to announce conversion, expansion and derisking of the potential ‘Starter Stockwork Zone'.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Errawarra Resources

Transformational Acquisition of the High-Grade Elizabeth Hill Silver Project

A 180km2 tenement package located in Western Australia and completion of a $3M Placement

Errawarra Resources Ltd (ASX: ERW) (Errawarra or the Company) is delighted to announce that it has entered binding agreements (refer Acquisition Terms) pursuant to which the Company has acquired 70% of the historical Elizabeth Hill Silver Project (“Project” or “Elizabeth Hill”), 70% of the silver rights to the Pinderi Hills Project tenement package and 70% of the ownership of 3 tenements or tenement applications surrounding the silver project. This collective tenement package totalling 180km2 is in the Tier 1 mining jurisdiction of the Pilbara, Western Australia (Figure 2 – Project Location).

Keep reading...Show less
Dana Samuelson, silver bars.

Dana Samuelson: Silver Facing Supply Shock, Will Price Hit Tipping Point?

Dana Samuelson, president of American Gold Exchange, sheds light on key questions in the gold and silver market, including why the metals are flowing into the US in such large amounts.

He also shares his outlook on gold and silver prices, as well as the US economy.

Keep reading...Show less
Apollo Silver VP for Corporate Development Amandip Singh

Apollo Silver Targets Growth with California and Mexico Projects

Amandip Singh, vice president of corporate development at Apollo Silver (TSXV:APGO), discusses the 2025 work program for the Calico silver project in California, highlighting key milestones like permitting and engineering studies, as well as plans to unlock value at the Cinco de Mayo project in Mexico.

Apollo Silver Engages Danayi Capital for Investor Relations and Digital Marketing Services

Apollo Silver Engages Danayi Capital for Investor Relations and Digital Marketing Services

Apollo Silver Corp. (" Apollo Silver " or the " Company ") (TSX.V:APGO, OTCQB:APGOF, Frankfurt:6ZF0) is pleased to announce that it has engaged Danayi Capital Corp. (" Danayi "), an arm's-length service provider, to provide the Company certain investor relations and digital marketing services (the " Services "), in accordance with the policies of the TSX Venture Exchange (" TSXV ") and applicable securities laws. Based in Vancouver, British Columbia, Danayi specializes in marketing, advertising, and public awareness within the mining and metals sector. Under a digital marketing agreement dated March 13, 2025 (the " Agreement "), Danayi will provide digital media, marketing strategies, and advertising for a trial period of one month at a fee of US$50,000. The Company may extend the Agreement at its discretion. The engagement is subject to the approval of the TSXV.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
First Majestic Appoints Daniel Muniz Quintanilla to Its Board of Directors

First Majestic Appoints Daniel Muniz Quintanilla to Its Board of Directors

First Majestic Silver Corp. (NYSE: AG) (TSX: AG) (FSE: FMV) (the "Company" or "First Majestic") is pleased to announce the appointment of Daniel Muñiz Quintanilla to the Company's Board of Directors, effective March 13, 2025.

Mr. Daniel Muñiz Quintanilla has more than 28 years of experience in international law, M&A, capital markets, and finance in the mining, logistics and infrastructure industries. He is currently a member of the board of directors of Novagold Resources, Inc. and Brookfield Infrastructure Partners L.P. Mr. Muñiz is also a Founding Partner of Axkan Capital Partners S.L., and serves as a director of Tharsis Mining S.L., a private company focused on copper, and as a director and special advisor to the chairman of both Sinda Ltd. and Sunshine Silver Mining & Refining Company, privately held companies in The Electrum Group's portfolio.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Andean Silver

Compelling New 2km-Long Target with Links to Known Outcropping Veins

Initial survey lines highlight large, strike extensive structures consistent with known mineralised silver systems; it is the latest in a growing pipeline of highly prospective areasnext to infrastructure ; Resource update set for this month

Andean Silver Limited (ASX: ASL) (“Andean” or the “Company”) is pleased to announce that it continues to grow the pipeline of strong exploration targets at its Cerro Bayo Project in Southern Chile, with geophysics identifying another large prospect at the Sinter Hill location.

Keep reading...Show less

Latest Press Releases

Related News

×