Silver Mountain Resources Provides Operational Update on Reliquias Restart and District Drilling Programs
Silver Mountain Hits Development Milestones as Reliquias Restart De-Risks with US$32M Treasury
The news release on January 14, 2026, provides a comprehensive operational update on the Reliquias Mine restart in Peru. Key highlights include the completion of 1,500 metres of underground development and the accumulation of a 2,500-tonne mineralized stockpile. The company confirmed that processing plant refurbishment and tailings storage facility rehabilitation are on schedule for a Q3 2026 commercial production restart. Additionally, Silver Mountain announced a significant 17,000-metre drilling campaign, split between infill drilling at Reliquias (7,000m) and exploration at the nearby Caudalosa Mine (10,000m). Financially, the company reported a robust treasury exceeding US$32 million.
This update is materially positive as it demonstrates successful execution against the timeline established in mid-2025. - Execution Milestone: The 1,500m of development and growing stockpile are tangible proof of operational ramp-up. - Financial De-risking: The US$32 million treasury, following two major financings in 2025 totaling approximately C$55 million, provides enough runway to reach the Q3 2026 production target without immediate dilution. - Growth Catalyst: The 10,000m program at Caudalosa indicates management is shifting from pure rehabilitation to expanding the resource base, which provides exploration upside beyond the initial 8-year mine life. - Consistency: The target for commercial production remains Q3 2026, showing no slippage in the timeline despite the complexities of mine restarts in Peru.
Silver Mountain Resources is focused on restarting the Reliquias silver-polymetallic mine in Huancavelica, Peru. The project is a past-producer with existing underground infrastructure and a processing plant. The company’s strategy is to modernize the facility to produce approximately 2.5 million silver-equivalent ounces annually over an initial 8-year mine life. The project is 100% owned and located in a prolific mining district.