Argentum Silver issues $50,000 promissory note

Executive Summary

• Argentum Silver Corp. issued an unsecured promissory note for $50,000 in available proceeds to an arm's-length lender, bearing 15% annual interest, to fund general working capital while seeking additional long-term capital.
• The company confirmed that its Cochavara mine 1 concession in La Libertad, Peru, has expired, and it no longer holds any mineral property interests in Peru, following a strategic review of exploration priorities.
• Argentum is actively seeking new mineral exploration and development opportunities in established silver districts to deliver shareholder value, while maintaining its listing on the TSX Venture Exchange.

Key Details

• Financing Structure: Unsecured promissory note issued to an arm's-length lender.
• Proceeds: $50,000 available to the company.
• Interest Rate: 15% per annum.
• Repayment Terms: Payable on demand by the lender at any time after the date of issuance.
• Use of Proceeds: General working capital purposes.
• Strategic Context: The loan provides immediate capital while the company seeks additional sources, potentially including future debt or equity securities or a formal credit facility.
• Asset Status: The Cochavara mine 1 concession in La Libertad, northern Peru, has expired.
• Property Interests: The company confirms it no longer has any mineral property interests in Peru.
• Decision Rationale: The decision not to renew the property validity was made following a strategic review of exploration priorities and capital allocation.
• Future Strategy: Actively reviewing new mineral exploration and development opportunities, specifically in established silver districts, with the goal of securing a qualifying property.
• Operational Status: Continuing to operate with a disciplined cost structure and maintaining good standing on the TSX Venture Exchange.

Notable Quotes

• "The company confirms that its Cochavara mine 1 concession in La Libertad, northern Peru, has expired. The company confirms it no longer has any mineral property interests in Peru."
• "The company is actively reviewing new mineral exploration and development opportunities, including projects located in established silver districts, with the objective of securing a qualifying property that can deliver shareholder value."