Original News Release
Silver Storm Drills 473 g/t Ag.Eq over 3.6 m and 137 g/t Ag.Eq over 12.0 m, Extends the San Nicolas Zone at Depth
TORONTO, ON / ACCESS Newswire / April 21, 2026 / Silver Storm Mining Ltd. ("Silver Storm" or the "Company") (TSXV:SVRS)(OTCQB:SVRSF)(FSE:SVR), is pleased to announce drill results from the diamond drilling program at the Company's 100%-owned La Parrilla Silver Mine Complex ("La Parrilla") located in Durango, Mexico. Results from the holes (910 metres ("m")) contained within this release are from the San Nicolas Zone ("San Nicolas") within the past-producing Quebradillas mine.
Key highlights include:
Hole IDP-SN-26-001 returned 473 g/t Ag.Eq over 3.60 m, including 740 g/t Ag.Eq over 1.65 m and 527 g/t Ag.Eq over 0.90 m.
Hole IDP-SN-26-001, combined with previously drilled holes, confirmed the presence of a high-grade block of mineralization extending at least 90 m above the last mined stopes at San Nicolas along a minimum strike length of 45 m.
Hole IDP-SN-26-003 returned 137 g/t Ag.Eq over 11.95 m, including 320 g/t Ag.Eq over 2.75 m and 507 g/t Ag.Eq over 0.90 m.
Hole IDP-SN-26-004 returned 420 g/t Ag.Eq over 0.40 m.
Hole IDP-SN-26-005 returned 275 g/t Ag.Eq over 1.05 m.
Hole EDP-SN-26-001 returned 149 g/t Ag.Eq over 8.45 m, including 285 g/t Ag.Eq over 3.50 m.
Hole EDP-SN-26-002 returned 183 g/t Ag.Eq over 3.20 m, including 299 g/t Ag.Eq over 1.35 m.
Hole EDP-SN-26-003 returned 137 g/t Ag.Eq over 1.10 m and 131 g/t Ag.Eq over 1.30 m.
Holes IDP-SN-26-003 to 005 and EDP-SN-26-001 to 003, combined with the holes drilled as part of previous drilling programs conducted by the Company, have the potential to extend the Indicated and Inferred Resources at depth by additional 70 m and 45 m, respectively.
Greg McKenzie, President and CEO, commented: "We are pleased with the exploration and infill drilling results at San Nicolas. Hole IDP-SN-26-001 has confirmed the presence of a high-grade block of mineralization extending 90 m above the last mined stopes, while holes IDP-SN-26-003 to 005 and EDP-SN-26-001 to 003 have confirmed the extension of the zone more than 85 m at depth below the last mined stopes. These drill results have the potential to contribute towards expanding the La Parrilla Mineral Resource at the San Nicolas Zone which remains open at depth."
San Nicolas Zone
The San Nicolas Zone is considered part of the Quebradillas mine, located approximately 400 m to the southwest, and connected to Quebradillas by underground development utilizing shared services from the mine. San Nicolas had five development levels established and mined by First Majestic Silver Corp. ("First Majestic") and a ventilation raise from surface down to a depth of 275 m. As a result of the drilling conducted by Silver Storm, the high-grade silver mineralization at San Nicolas can now be traced with continuity down to a depth of approximately 480 m below surface.
The San Nicolas Zone is comprised of subvertical quartz-carbonate vein and breccia mineralization striking northwest over approximately 600 m. Sulphide replacement zones occur within the hanging wall and footwall along the bedding within the sediments. The sulphide mineralization is comprised of pyrite, galena, sphalerite, acanthite, and native silver. A second set of east-west trending sulphide-bearing quartz-carbonate veins crosscuts the principal northwest trend. Breccia pipes (chimneys) form at the intersection of these two trends.
Figure 1: Cross section view of the Quebradillas mine
Hole IDP-SN-26-001 was drilled 50 m above the topmost mined 1921 EL stope and returned 473 g/t Ag.Eq over 3.60 m, including 740 g/t Ag.Eq over 1.65 m and 527 g/t Ag.Eq over 0.90 m. The composited weighted average grade of historical channel samples from the 1921 EL stope returned 215 g/t Ag.Eq over a strike length of 19 m and an average width of 1.49 m.
Hole IDP-SN-26-001 was drilled in proximity to other holes that had been drilled as part of the previous drilling programs at San Nicolas and is located:
22 m above and southeast of hole Q-23-024 (686 g/t Ag.Eq over 9.39 m) and 25 m below and southeast of the historic hole ILP-SN-19-08 (475 g/t Ag.Eq over 7.50 m) drilled by First Majestic (see the news release published by the Company on January 29, 2024)
30 m above and northwest of hole Q-24-054 (294 g/t Ag.Eq over 7.00 m) and 32 m below and northwest of hole Q-24-056 (616 g/t Ag.Eq over 1.02 m) (see the news release published by the Company on January 6, 2025).
Collectively these holes, along with the historic hole SLP-SN-12-02 (248 g/t Ag.Eq over 2.15 m) drilled by First Majestic, confirm the presence of a high-grade block of mineralization, extending at least 90 m above the last mined stopes in San Nicolas along a minimum strike length of 45 m. The high-grade block was classified as part of the Indicated Resources in the National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") Technical Report entitled "Independent Technical Report for the La Parrilla Silver Mine, Durango State, Mexico" with an effective date of March 24, 2025 ("Technical Report").
Holes IDP-SN-26-003 to 005 and EDP-SN-26-001 to 003 targeted the southeast depth extension of San Nicolas, where previous drilling programs produced the following results:
Hole Q-23-013A (584 g/t Ag.Eq over 1.00 m within a broader interval of 276 g/t Ag.Eq over 4.09 m) and hole Q-23-014 (225 g/t Ag.Eq over 1.90 m) (see the news release published by the Company on January 29, 2024)
Hole Q-24-063 (632 g/t Ag.Eq over 0.40 m and 450 g/t Ag.Eq over 0.50 m) (see the news release published by the Company on January 6, 2025)
Highlights from holes IDP-SN-26-003 to 005 and EDP-SN-26-001 to 003 include:
Hole IDP-SN-26-003 returned 137 g/t Ag.Eq over 11.95 m, including 320 g/t Ag.Eq over 2.75 m and 507 g/t Ag.Eq over 0.90 m
Hole IDP-SN-26-004 returned 252 g/t Ag.Eq over 0.40 m and 420 g/t Ag.Eq over 0.40 m
Hole IDP-SN-26-005 returned 275 g/t Ag.Eq over 1.05 m
Hole EDP-SN-26-001 returned 149 g/t Ag.Eq over 8.45 m, including 285 g/t Ag.Eq over 3.50 m
Hole EDP-SN-26-002 returned 183 g/t Ag.Eq over 3.20 m, including 299 g/t Ag.Eq over 1.35 m
Hole EDP-SN-26-003 returned 137 g/t Ag.Eq over 1.10 m and 131 g/t Ag.Eq over 1.30 m
These six holes have extended the San Nicolas mineralization to ~85 m below the bottommost 1874 EL stope. The composited weighted average grade of historical channel samples from the 1874 EL stope returned 279 g/t Ag.Eq over a strike length of 35 m and average width of 1.15 m. By using the classification criteria established in the Technical Report, these holes have the potential to extend the Indicated Resources by additional 70 m at depth over a minimum strike length of 65 m and to extend the Inferred Resources by additional 45 m at depth.
Silver Storm has recently added a second underground drill rig to advance the current drilling program more rapidly. A total of 44 holes have been drilled to date (~3,000 m).
Figure 2: Longitudinal section of the San Nicolas Zone (view to NE)
For further information, the NI 43-101 Technical Report entitled "Independent Technical Report for the La Parrilla Silver Mine, Durango State, Mexico" with an effective date of March 24, 2025 is available for review on SEDAR (www.sedarplus.ca) and on the Company's website (www.silverstorm.ca).
Table 1(1) - Select assay intervals from holes EDP-SN-26-001 to 003 and IDP-SN-26-001 to 005; results from previous drilling conducted by Silver Storm and historic assay results
Zone
Hole
From
To
Length
(m)
ETW(3)
(m)
Ag.Eq(2)
g/t
Ag
g/t
Au
g/t
Pb
%
Zn
%
SN
EDP-SN-26-001
107.40
115.85
8.45
6.51
149
111
0.07
0.52
1.10
including
109.50
113.00
3.50
2.70
285
208
0.13
1.04
2.38
SN
EDP-SN-26-002
101.15
104.35
3.20
1.60
183
139
0.09
0.64
1.26
including
103.00
104.35
1.35
0.67
299
251
0.13
0.97
0.93
SN
EDP-SN-26-003
118.15
119.25
1.10
0.78
137
64
0.07
1.84
1.57
SN
EDP-SN-26-003
123.05
124.35
1.30
0.92
131
77
0.09
0.70
1.71
SN
IDP-SN-26-001
83.00
83.60
0.60
0.56
196
113
0.04
0.72
3.44
SN
IDP-SN-26-001
86.00
86.60
0.60
0.56
209
158
0.02
0.76
1.82
SN
IDP-SN-26-001
91.85
95.45
3.60
3.35
473
465
0.01
0.23
0.12
including
91.85
93.50
1.65
1.53
740
727
0.01
0.37
0.24
and
94.55
95.45
0.90
0.84
527
522
0.01
0.18
0.03
SN
IDP-SN-26-003
49.50
61.45
11.95
7.77
137
133
0.02
0.05
0.07
including
49.50
52.25
2.75
1.79
320
312
0.05
0.11
0.07
and
60.55
61.45
0.90
0.59
507
504
0.00
0.03
0.10
SN
IDP-SN-26-004
35.75
36.15
0.40
0.39
252
97
0.09
2.69
4.91
SN
IDP-SN-26-004
40.00
40.40
0.40
0.39
420
247
0.01
4.17
4.63
SN
IDP-SN-26-005
53.05
54.10
1.05
0.91
275
182
0.03
3.32
1.22
PREVIOUS RESULTS
SN
Q-23-013A
87.49
91.58
4.09
4.01
276
172
0.01
2.18
3.08
including
88.55
89.55
1.00
0.98
584
379
0.01
4.37
6.11
and
90.00
91.58
1.58
1.55
252
135
0.02
2.40
3.51
SN
Q-23-013A
106.87
107.17
0.30
0.29
452
199
0.05
6.06
6.65
SN
Q-23-014
111.80
113.70
1.90
1.65
225
174
0.07
1.71
0.55
SN
Q_23_024
71.75
81.14
9.39
8.83
686
676
0.01
0.32
0.13
including
72.75
78.00
5.25
4.94
997
988
0.01
0.33
0.10
SN
Q_23_025
85.65
86.74
1.09
0.71
181
101
0.02
1.37
2.63
SN
Q-24-054
98.80
105.80
7.00
6.09
294
273
0.02
0.47
0.54
including
99.30
99.80
0.50
0.44
410
389
0.03
0.15
0.80
and
102.80
105.30
2.50
2.18
528
507
0.01
0.92
0.11
SN
Q-24-056
116.70
117.30
0.60
0.52
220
103
0.01
1.00
5.10
SN
Q-24-056
122.13
123.15
1.02
0.89
616
606
0.03
0.32
0.05
NEW
Q-24-060
106.48
106.99
0.51
0.51
201
197
0.04
0.37
0.22
SN
Q-24-063
94.85
95.25
0.40
0.39
632
593
0.06
1.62
0.08
SN
Q-24-063
97.75
98.25
0.50
0.49
450
405
0.01
0.94
1.33
HISTORICAL RESULTS
SN
ILP-SN-16-01-A
405.45
407.20
1.75
1.72
1,555
1,479
0.13
1.25
2.09
SN
ILP-SN-16-05
464.80
465.45
0.65
0.64
153
143
0.05
0.24
0.09
SN
ILP-SN-17-35
211.85
212.50
0.65
0.50
414
310
0.07
1.71
3.35
SN
and
222.40
224.60
2.20
1.69
1,192
1,186
0.01
0.21
0.06
SN
ILP-SN-17-36
257.80
262.30
4.50
3.47
889
854
0.08
0.38
1.08
SN
ILP-SN-19-01
263.40
264.30
0.90
0.81
156
113
0.11
0.70
1.00
SN
ILP-SN-19-03
230.80
231.55
0.75
0.75
228
165
0.01
1.31
1.93
SN
ILP-SN-19-04
301.05
301.55
0.50
0.40
522
26
5.90
0.02
0.06
SN
ILP-SN-19-08
186.10
193.60
7.50
7.05
475
325
0.03
3.71
3.80
SN
including
190.15
193.60
3.45
3.24
855
380
0.02
0.91
0.40
SN
ILP-SN-19-09
202.35
203.25
0.90
0.64
407
380
0.02
0.91
0.40
SN
SLP-SN-12-02
181.05
183.20
2.15
1.72
248
135
0.04
1.43
4.22
SN
SLP-SN-12-03
276.85
278.85
2.00
1.30
133
96
0.07
0.75
0.86
and
291.45
293.90
2.45
1.59
262
150
0.03
2.62
3.03
SN
SLP-SN-12-05
149.95
150.55
0.60
0.46
950
776
0.38
4.01
3.16
SN
ILP-SN-19-05
223.00
223.50
0.50
0.49
255
238
0.14
0.22
0.05
SN
SN-02
122.60
124.40
1.80
1.28
411
367
0.10
1.46
0.30
SN
SN-03
122.05
123.10
1.05
0.65
142
124
0.00
0.57
0.33
SN
SN-04
44.80
45.70
0.90
0.50
267
245
0.07
0.80
0.03
Table 2(1) - Historical Channel Sample Results (4) - San Nicolas Zone
Elevation
Zone
Channel
TW(3)
(m)
Ag.Eq(1)
g/t
Ag
g/t
Pb
%
Zn
%
1874
SN NW
VSN-1873-26
1.10
291
135
1.55
6.58
1874
SN NW
VSN-1873-29
2.30
224
175
1.20
1.29
1874
SN SW
VSN-1874-40
3.50
666
312
4.99
13.38
1874
SN SW
VSN-1874-44
2.70
300
150
3.23
4.47
1874
SN SW
VSN-1874-45
2.90
284
139
3.49
3.89
1874
SN SW
VSN-1875-43
0.50
415
355
2.66
0.28
1874
SN SW
VSN-1875-51
5.30
505
424
2.09
2.01
1874
SN SE
VSN-1874-42
3.10
262
195
2.05
1.31
1874
SN SE
VSN-1874-54
3.20
257
231
1.02
0.29
1874
SN SE
VSN-1874-56
2.80
209
176
0.92
0.77
1874
SN SE
VSN-1874-58
0.40
143
60
1.83
2.39
1874
SN SE
VSN-1873-62
0.40
246
103
3.24
4.06
1874
SN SE
VSN-1873-64
0.30
157
64
2.17
2.55
1874
SN SE
VSN-1873-65
0.70
612
253
7.30
11.10
1874
SN SE
VSN-1873-66
1.70
122
40
1.49
2.75
1874
SN SE
VSN-1873-73
0.30
124
41
1.58
2.70
1874
SN SE
VSN-1873-75
0.30
33
0
0.15
1.58
1874
SN SE
VSN-1873-76
0.40
888
405
11.20
13.50
1874
SN SE
VSN-1873-78
0.60
131
39
1.38
3.36
1874
SN SE
VSN-1873-79
0.80
439
217
7.27
3.87
1886
SN SE2
VSN-1885-82
0.70
119
88
0.58
1.00
1886
SN SE2
VSN-1885-84
0.65
225
103
2.90
3.33
1886
SN SE2
VSN-1885-89
3.65
254
103
3.47
4.25
1886
SN SE2
VSN-1885-92
0.60
253
73
3.83
5.38
1886
SN SE1
VSN-1886-108
1.10
183
96
2.45
1.93
1886
SN SE1
VSN-1886-111
3.15
154
65
2.05
2.48
1886
SN SE1
VSN-1886-112
2.40
223
146
2.15
1.74
1886
SN SE1
VSN-1886-113
0.85
293
192
3.40
1.67
1886
SN SE1
VSN-1886-115
0.60
404
253
4.12
3.56
1887
SN W
VSN-1888-47
1.75
115
90
0.81
0.47
1887
SN W
VSN-1888-48
5.05
142
86
1.50
1.34
1887
SN W
VSN-1886-49
2.00
219
120
2.78
2.24
1887
SN W
VSN-1886-51
1.65
408
356
1.39
1.26
1882
SN NW
VSN-1888-28
0.50
345
307
1.15
0.76
1882
SN NW
VSN-1887-31
2.30
262
242
0.59
0.38
1882
SN NW
VSN-1887-37
2.00
179
112
2.51
0.82
1882
SN NW
VSN-1887-40
3.00
364
337
1.01
0.35
1882
SN NW
VSN-1887-43
4.90
231
142
2.57
1.95
1882
SN NW
VSN-1887-49
6.45
439
325
3.59
2.18
1882
SN NW
VSN-1887-52
4.20
237
63
2.54
6.46
1882
SN NW
VSN-1888-48
2.10
317
205
3.74
1.86
1882
SN NW
VSN-1888-51
3.70
407
344
2.35
0.79
1882
SN NW
VSN-1887-55
0.65
195
61
1.91
5.01
1882
SN NW
VSN-1884-60
1.75
262
122
2.52
4.67
1882
SN NW
VSN-1883-63
1.75
316
197
3.00
3.04
1882
SN NW
VSN-1885-57
2.70
187
101
2.33
2.05
1882
SN NW
VSN-1887-58
1.20
377
163
3.93
7.09
1882
SN NW
VSN-1887-61
1.40
407
163
5.50
6.97
1882
SN NW
VSN-1887-64
2.20
474
119
3.80
14.66
1882
SN NW
VSN-1882-66
1.20
339
166
4.05
4.79
1901
SN SE
VSN-1901-26
0.70
108
51
1.51
1.39
1901
SN SE
VSN-1901-29
1.45
329
150
5.35
3.70
1901
SN SE
VSN-1901-32
0.60
225
126
2.88
2.10
1901
SN SE
VSN-1901-35
1.30
128
93
1.01
0.72
1901
SN SE
VSN-1901-38
2.80
311
132
4.19
4.93
1901
SN SE
VSN-1901-44
1.30
150
88
1.92
1.20
1901
SN SE
VSN-1901-47
1.60
123
58
1.55
1.76
1901
SN SE
VSN-1901-50
4.20
177
99
2.25
1.72
1901
SN SE
VSN-1901-53
5.20
445
411
1.51
0.78
1921
SN NW
VSN-1921-L49
0.40
126
105
0.10
1.01
1921
SN NW
VSN-1921-L52
1.70
368
277
1.08
3.67
1921
SN SE
VSN-1921-L70
2.50
302
183
0.01
0.03
1921
SN SE
VSN-1921-L73
1.60
350
173
4.08
4.94
1921
SN SE
VSN-1921-L76
1.85
204
112
2.16
2.55
1921
SN SE
VSN-1921-L79
0.85
101
62
0.50
1.51
1921
SN SE
VSN-1921-L82
0.90
101
73
0.80
0.61
1921
SN SE
VSN-1921-L84
2.10
316
227
2.15
2.36
1921
SN SE
VSN-1921-L85
0.60
181
107
2.96
0.72
1921
SN SE
VSN-1921-L88
1.50
163
94
1.95
1.58
The individual grades of the metals that were used as inputs into the metal equivalent Ag.Eq g/t are provided in Tables 1 & 2.
All results in this release are rounded. Assays are uncut and undiluted. Widths are core-lengths, not true widths. Silver equivalent: Ag.Eq g/t was calculated using commodity prices of US$30.00 /oz Ag, US$2,500 /oz Au, US$0.95 /lb Pb, and US$1.25 /lb Zn applying metallurgical recoveries of 70.1% for silver and 82.8% for gold in oxides and 79.6% for silver, 80.1% for gold, 74.7% for lead and 58.8% for zinc in sulphides. Metal payable used was 99.6% for silver and 95% for gold in doré produced from oxides, and 95% for silver, gold, and lead and 85% for zinc in concentrates produced from sulphides. Cut-off grades considered for oxide and sulphide were 135 g/t Ag.Eq and 115 g/t Ag.Eq, respectively. The cut-off grades were based on 2017 costs adjusted by the inflation rate and include sustaining costs.
Estimated true widths ("ETW") of mineralization have been calculated from core-lengths for drill core where orientation of the zone is known; channel samples were taken perpendicular across the width of mineralization and are considered true widths ("TW").
Weighted average grades were calculated over the mineralized widths of each channel across the stope (Table 2, Figure 2).
Sample Analysis and QA/QC Program
Silver Storm uses a quality assurance/quality control (QA/QC) program that monitors the chain of custody of samples and includes the insertion of blanks, duplicates, and reference standards in each batch of samples sent for analysis. The drill core is photographed, logged, and cut in half, with one half retained in a secured location for verification purposes and one half shipped for analysis. Sample preparation (crushing and pulverizing) is performed at ALS Geochemistry, an independent ISO 9001:2001 certified laboratory, in Zacatecas, Mexico and pulps are sent to ALS Geochemistry in Vancouver, Canada for analysis. The entire sample is crushed to 70% passing -2 mm, and a riffle split of 250 grams is taken and pulverized to better than 85% passing 75 microns. Samples are analyzed for gold using a standard fire assay with Atomic Absorption Spectrometry (AAS) (Au-AA23) from a 30-gram pulp. Gold assays greater than 10 g/t are re-analyzed on a 30-gram pulp by fire assay with a gravimetric finish (Au-GRA21). Samples are also analyzed using a 34 element inductively coupled plasma (ICP) method with atomic emission spectroscopy (AES) on a pulp digested by four acids (ME-ICP61). Overlimit sample values for silver (>100 g/t), lead (>1%), zinc (>1%), and copper (>1%) are re-assayed using a four-acid digestion overlimit method with ICP-AES (ME-OG62). For silver values greater than 1,500 g/t, samples are re-assayed using a fire assay with gravimetric finish on a 30-gram pulp (Ag-GRA21). Samples with lead values over 20% are re-assayed using volumetric titration with EDTA on a 1-gram pulp (Pb-VOL70). No QA/QC issues were noted with the results reported herein.
Qualified Person
The scientific and technical information in this document has been reviewed and approved by Bruce Robbins, P.Geo., Chief Geologist of the Company, engaged as an independent consultant to the Company, a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
About Silver Storm Mining Ltd.
Silver Storm Mining Ltd. holds advanced-stage silver projects located in Durango, 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. Silver Storm 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) expects 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 future exploration performance at La Parrilla, the timing and extent of current and future drill programs, the ability to increase Mineral Resources therein, and the timeline and ability to place La Parrilla back into operation.
In making the forward-looking statements included in this news release, the Company and Qualified Persons (in the case of technical and scientific information) have applied several material assumptions, including that the Company´s financial condition and development plans do not change because of unforeseen events, that future metal prices and the demand and market outlook for metals will remain stable or improve, management's ability to execute its business strategy and no unexpected or adverse regulatory changes with respect to La Parrilla. 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.
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