Silver Storm Announces First Concentrate Shipment from La Parrilla

Silver Storm Mining Ltd. (SVRS) shipped its first concentrates from the La Parrilla sulphide processing circuit, delivering 105 dry metric tonnes of lead-silver concentrate and 70 dmt of zinc concentrate. The shipment was executed under the previously announced prepayment and offtake agreement with Samsung C&T and its affiliates.

The company is currently ramping up processing rates, targeting a nameplate capacity of 1,250 tonnes per day. CEO Greg McKenzie described the shipment as a “defining milestone,” noting that La Parrilla has now transitioned from care and maintenance to a revenue-generating operation.

Silver Storm Mining Ltd. (SVRS) shipped its first sulphide concentrate, marking the next step after the initial doré pour from the oxide circuit on June 11, 2026, and the hot commissioning of the sulphide circuit on July 14, 2026. The shipment confirms that the sulphide circuit is producing saleable concentrates, though the volume was small at 175 dry metric tonnes (dmt) against a target of 1,250 tonnes per day (tpd).

This outcome aligns with the company’s guidance that commissioning and first shipments would occur within the same timeframe. The announcement did not include new data on grades, recoveries, or costs.

Financial pressures remain evident as the company secured a US$5 million loan from First Majestic at 15% interest, compounded quarterly, on July 14, 2026. Additionally, the company had already deferred the start of repayment to Samsung until September 2026. While the shipment validates the restart as an operational milestone, the event was anticipated by the market and lacks the scale to be considered a material surprise.

Silver Storm Mining Ltd. is a Canadian junior miner focused on restarting the past-producing La Parrilla Silver Mining Complex in Durango, Mexico, which it owns 100%. La Parrilla operated from 2006 to 2019, producing over 34 million ounces of silver equivalent. The site includes three underground mines—Rosarios, San Marcos, and Quebradillas—a 2,000 tons per day mill, and extensive infrastructure valued at approximately US$150 million.

The company’s restart plan, conducted without a feasibility study, targets a sulphide circuit capacity of 1,250 tons per day, expanded from 1,000 tons per day. Oxide doré production is already underway. According to a 2025 Technical Report by SRK, the project holds indicated resources of 1.197 million tonnes at 280 grams per tonne silver equivalent, containing 10.8 million ounces, and inferred resources of 1.988 million tonnes at 255 grams per tonne silver equivalent, containing 16.3 million ounces. No mineral reserves are declared.

Silver Storm also owns 100% of San Diego, a large undeveloped silver-zinc-lead project in the same state. Historical indicated resources at San Diego stand at 16.5 million tonnes at 55.5 million ounces of silver equivalent, with inferred resources of 83.8 million tonnes at 155.3 million ounces of silver equivalent. Exploration at San Diego is at an early stage.