Silver Tiger Metals Inc. Commences Trading Under the Trading Symbol “SLVR”May 20, 2020
HALIFAX, NOVA SCOTIA – May 20, 2020 - Silver Tiger Metals Inc. (“Silver Tiger” or the “Company”) commencedtrading on the TSXV today under the trading symbol “SLVR”. The Company previously announced that it was changing its name from Oceanus Resources Corporation to Silver Tiger Metals Inc. and its trading symbol from “OCN” to “SLVR”. There is no change in the share capital of the Company. The Company's new CUSIP number is 82831T109 and its new ISIN number is CA82831T1093. No further action is required by existing shareholders with respect to the name change. Certificates representing common shares of the Company will not be affected by the name and symbol change and will not need to be exchanged. The Company’s website is www.silvertigermetals.com.
CEO, Glenn Jessome states, “after delivering our maiden 43-101 compliant resource estimate by drilling the vein halo around the high-grade underground veins of the historic El Tigre mine, it is now time to get on with drilling the kilometers long northern and southern unmined vein extensions of the old mine on our 35 km, 28,000 ha, district size property in Sonora, Mexico. The historic El Tigre mine produced over 200 million silver equivalent ounces at an average grade of over 2 kgs per ton from 1903 to 1938. It is this tenor of grade which has the Silver Tiger exploration team biting at the bit to get back drilling at El Tigre.”
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About Silver Tiger
Following the completion of the maiden El Tigre resource estimation (the full NI 43-101 technical report is posted to the Company’s website at www.silvertigermetals.com and can also be accessed on SEDAR at www.sedar.com) the Company directed its exploration efforts at identifying other areas of silver-gold mineralization across the expansive property holdings (28,414 hectares). The Company’s prospecting and mapping program identified in excess of 10 kilometers of favorable host stratigraphy (i.e. the El Tigre formation) with several areas of mineralization identified to the south, east and north-east of the old El Tigre Mine. The El Tigre formation is the rock package that hosts the historic El Tigre Mine, which operated from 1903 to 1938, and was reported to have produced a total of 353,000 ounces of gold and 67.4 million ounces of silver from 1.87 million tonnes averaging 7.54 g/t gold and 1,308 g/t silver (Steven D. Craig, B.A., M.Sc., P. Geo. 2012).
The Company’s drilling completed after filing its’ 43-101 compliant resource estimate intersected similar-style silver-gold mineralization in the El Tigre formation at the Protectora, Caleigh and Fundadora areas to the north of the old mine, as well as to the south, past Gold Hill. Drilling to the north of the old mine by the Company returned the following impressive silver-gold intercepts:
Notes to Table:
- True width has not been calculated for each individual intercept, but true width is generally estimated at 75-90% of drilled width. Metallurgical recoveries and net smelter returns are assumed to be 100%.
- Silver Equivalent (“AgEq75”) ratio based on silver to gold price ratio of 75:1 Ag:Au.
These diamond drill holes were some of the last holes drilled by the Company with no follow up drilling in this area having been undertaken. The Company intends to recommence drilling these unmined Northern high-grade vein extensions.
For further information, please contact:
President and CEO
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 the Ocampo mine, exploration results, and future plans and objectives of Oceanus, are forward-looking statements that involve various risks and uncertainties. Forward-looking 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 Oceanus 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 Oceanus’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 Oceanus with securities regulators.Download
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Please note that this Website contains "forward-looking information", within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, information with respect to our plans respecting our mineral projects and our other key mineral properties and the ability to secure and maintain required permits for such projects and properties, exploration expenditures and activities and the possible success of such exploration activities, the estimation of mineral reserves and resources, the realization of mineral estimates, the timing and amount of estimated future production, costs of production, capital expenditures, costs and timing of the development of new deposits, mineral pricing, mine life projections, the availability of third-party concentrate, business and acquisition strategies and the timing and possible outcome of pending litigation. Often, but not always, forward-looking information can be identified by the use of words like "plans", "expects", "estimates", "forecasts", "intends", "understands", "anticipates", and similar expressions. Forward-looking information is based on the opinions and estimates of management as of the date such information is provided and is subject to known and unknown risks, uncertainties and other factors that may cause our actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including risks associated with the mining industry such as economic factors (including future commodity prices, currency fluctuations and energy prices), failure of plant, equipment, processes and transportation services to operate as anticipated, dependence on key personnel and employee relations, environmental risks, government regulation, actual results of current exploration activities, possible variations in ore grade or recovery rates, permitting timelines, capital expenditures, reclamation activities, land titles, and social and political developments and other risks of the mining industry. Although we have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. We do not undertake to update any forward-looking information, except as required by applicable securities laws, or to comment on analyses, expectations or statements made by third parties in respect of us, our financial or operating results or our securities.
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The disclosure on this Website has been prepared in accordance with the requirements of Canadian securities laws, which differ from the requirements of United States securities laws. Disclosure, including scientific or technical information, has been made in accordance with Canadian National Instrument 43-101 -- Standards of Disclosure for Mineral Projects ("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 mineral projects. As a result, information contained on this Website containing descriptions of the mineral properties or estimates of mineral reserves or resources of Silver Tiger is not comparable to similar information disclosed by U.S. companies in reports filed with the SEC.
For example, the terms "measured mineral resources", "indicated mineral resources", "inferred mineral resources", "proven mineral reserves" and "probable mineral reserves" are used on this Website to comply with the reporting standards in Canada. While those terms are recognized and required by Canadian regulations, the SEC does not recognize them.
Under the rules and regulations of the SEC set forth in Industry Guide 7, a U.S. company may only disclose estimates of proven and probable mineral reserves, and may not disclose estimates of any classification of mineral resources. In addition, the definitions of proven and probable mineral reserves used in NI 43-101 differ from the definitions in the SEC Industry Guide 7. Under United States standards, mineralization may not be classified as a "reserve" unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made. Investors are cautioned not to assume that all or any part of the mineral deposits in these categories will ever be converted into mineral reserves. Any estimate of mineral reserves or resources has a great amount of uncertainty as to its existence, and great uncertainty as to its economic and legal feasibility with estimates of mineral resources having a greater degree of uncertainty. It cannot be assumed that all or any part of measured mineral resources, indicated mineral resources or inferred mineral resources will ever be upgraded to a mineral reserve or mined. Further, in accordance with Canadian rules, estimates of inferred mineral resources cannot form the basis of feasibility or other economic studies. Investors are cautioned not to assume that any part of the reported measured mineral resources, indicated mineral resources, or inferred mineral resources on this Website will ever be classified as a reserve. Disclosure of "contained ounces" is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute reserves as in place tonnage and grade without reference to unit measures.