Star Metro - Silver Storm Announces First Concentrate Shipment from La Parrilla

Silver Storm has successfully produced an initial batch of concentrates using the La Parrilla sulphide processing circuit. The Company has subsequently completed an initial shipment of 105 dry metric tonnes ("dmt") of lead-silver concentrate and 70 dmt of zinc concentrate. The shipment has been completed as part of the Company's previously announced offtake prepayment agreement. Silver Storm plans to continue increasing sulphide circuit processing rates with a goal of ramping up toward the nameplate capacity of 1,250 tonnes per day.

Greg McKenzie, President and CEO, commented, "Our first concentrate shipment is a defining milestone for Silver Storm - real, saleable product from La Parrilla moving to market under our offtake agreement with a globally recognized company. Through the hard work of our team, we have taken La Parrilla from care and maintenance to a revenue-generating operation. Silver Storm is now in position to continue shipping concentrates on an ongoing basis."

Figure 1: First concentrate shipment from La Parrilla

Qualified Person

The scientific and technical information in this document has been reviewed and approved by Shane Ghouralal, P.Eng., Director, Technical Services of the Company, a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").

About Silver Storm Mining Ltd.

Silver Storm Mining Ltd. holds advanced-stage silver projects located in Durango State, Mexico. Silver Storm is committed to advancing toward a potential near-term restart of its 100%-owned La Parrilla Silver Mine Complex, a prolific operation comprised of a 2,000 tpd mill and three underground mines. The Company also holds a 100% interest in the San Diego Project which ranks among the largest undeveloped silver projects in Mexico. For more information regarding the Company and its projects, please visit our website at www.silverstorm.ca.

For additional information, please contact:

Greg McKenzie, President & CEO
Ph: +1 (416) 504-2024
[email protected]

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Note Regarding Forward Looking Statements:

Certain statements in this news release are forward-looking and involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of the phrase 'forward-looking information' in the Canadian Securities Administrators' National Instrument 51-102 - Continuous Disclosure Obligations. Forward-looking statements are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives, or goals, including words to the effect that the Company or management and Qualified Persons (in the case of technical and scientific information) expect a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties, and other factors involved with forward-looking information could cause actual events, results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes but is not limited to: the Company's plans and expectations for La Parrilla; the expected sulphide circuit processing rates; the expectation of producing and shipping concentrates on an ongoing basis; and the expectation of receiving revenues from concentrate shipments on an ongoing basis.

In making the forward-looking statements included in this news release, the Company has applied several material assumptions, including, among other things, the absence of material adverse changes in market conditions, metal prices, permitting status, operating conditions, labour availability, and access to required equipment, parts, and consumables. The Company cautions that its decision to potentially restart operations at La Parrilla, and any related production decisions, are largely based on internal Company data, historical operating results, reports, and engineering assessments and are not supported by a current mineral reserve estimate prepared in accordance with NI 43-101, preliminary economic assessments, pre-feasibility studies, or feasibility studies that demonstrate economic and technical viability. As a result, there is increased uncertainty and a higher degree of economic and technical risk associated with any such production decision than would be the case if such mineral reserves estimates or studies were completed and relied upon to support a production decision. No mineral reserves have been established for La Parrilla, and mineral resources that are not reserves do not have demonstrated economic viability. The absence of mineral reserve estimates prepared in accordance with NI 43-101, preliminary economic assessments, pre-feasibility studies, or feasibility studies supporting a production decision increases the uncertainty of achieving any particular level of mineral recovery or the cost of such recovery and heightens the risks associated with developing a commercially mineable deposit. Historically, projects advanced without the support of such mineral reserves estimates and studies have experienced a significantly higher incidence of economic and technical failure. There can be no assurance that production at La Parrilla will commence as anticipated or at all, or that any anticipated production levels or operating costs will be achieved. A failure to commence production would have a material adverse effect on the Company's ability to generate revenue and cash flow to fund its operations. Similarly, a failure to achieve anticipated production costs would have a material adverse effect on the Company's cash flow and future profitability.

Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company's actual results, performance, or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties, and other factors set out herein.

Such forward-looking information represents management's and Qualified Persons' (in the case of technical and scientific information) best judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

SOURCE: Silver Storm Mining Ltd.

View the original press release on ACCESS Newswire

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