Vancouver, British Columbia – March 31, 2022 – Silver Valley Metals Corp. (TSXV: SILV) (OTCQB: SVMFF) (“Silver Valley” or the “Company”), a brownfields exploration Company with two potential high impact projects that comprise lithium – potassium (sulphate of potash) and silver-zinc-lead, respectively, is pleased to provide an overview, update, and outlook for 2022.

It has been a transformative time for Silver Valley Metals over the past eight months.  Eight months ago, after the Company consummated its first transaction in northern Idaho’s prolific Silver Valley, the Company changed its corporate name to Silver Valley Metals and its focus to the exploration and potential future development for silver, zinc, and lead.   The project borders to the west the largest mine in the Silver Valley, Bunker Hill, and comprises five high-grade historical mines that are shallow and remain open at depth and along strike.  Following this first transaction, the Company followed up four months ago (November 2021) and closed a second transaction that triples the original project size and consolidates under one operator for the first time the western extension of the Silver Valley mining corridor.  Importantly, the entire project is located on patented land, and includes an option to own the Page Mine (the sixth mine on the newly consolidated project package) which is a top ten historical producer in the valley. The Page mine remains open at depth and possesses significant historical mineral reserves.  The entire project area has never had modern exploration applied to it.

See below project development plans for 2022.


In-situ historical reserves:
  • Tons: 218,000
  • Silver (g/t): 87.4
  • Silver (oz): 555,727
  • Zinc (%): 10.34
  • Zinc (lbs): 45,082,400
  • Lead (%): 5.22
  • Lead (lbs): 22,759,200
  • Silver Equiv. (oz) *: 3,810,380
  • Zinc Equiv. Grade (%) *: 16.8
  • Zinc Equiv. (lbs): 73,276,540

* Silver Equiv. and Zinc Equiv. assumptions: Silver (Ag) price of US$25.00/oz, Zinc (Zn) price of US$1.30/lb, Lead (Pb) price of US$1.00/lb **Source: United States Geological Survey (USGS) Page Mine – https://mrdata.usgs.gov/mrds/show-mrds.php?dep_id=10073450


Update: Mexican Lithium-Potassium (Sulphate of Potash) Project:

Following up on the news release dated November 10, 2021 Silver Valley Metals Considers Strategic Alternatives for Its Lithium and Sulphate of Potash (SOP) Deposits in Zacatecas, Mexico – the Company can report it is in advanced discussions and under NDA’s with several well financed and highly technical groups.  Discussions continue to progress well.   All options remain open for the Company, including a direct investment into the Company itself and the Company moving the project forward, to a joint venture, to a spin out of the asset, to a buy-out of the entire asset.   By gauging the strong interest, the Company is confident that an accretive transaction or investment into the Company will occur in the relative short term.  When considering today’s strong economics and demand in the lithium and fertilizer sectors, and the Company’s NI 43-101 inferred mineral resource defined thus far, it is anticipated that the value of the deposit(s) will add significant share value to what at this point in time is not realized in the market capitalization of the Company, which may be due to the change of corporate name and the limited market exposure of the asset up to this point in time.

Considering today’s price of Lithium Carbonate Equivalent at $74,222 USD per tonne and $1,100 USD per tonne SOP (sulphate of potash), the in-situ value of what the Company possesses is significant and importantly, the inferred resource is defined from surface to, on average, only 5 metres below surface.  There is strong potential the resource can be expanded at depth and laterally notwithstanding the upside brine potential that has yet to be drill tested.

The NI-43-101 Inferred Resource contains 243,000 tonnes of lithium carbonate equivalent (LCE) and 12.3Mt of Sulphate of Potash (“SOP”).

  • Today’s price for 1 tonne of lithium carbonate (LCE) in USD$ is $74,2221
  • At 243,000 tonnes there is an in-situ dollar value of $18B
  • Today’s price for 1 tonne of SOP in USD$ is $1,1002
  • At 12.3 Mt of SOP there is an in-situ dollar value of $13.5B
  • Significant upside for expansion as the basin has not been determined and the brine potential remains untested, majority of resource tested from surface to only 5m in depth
  • Continuous high grade lithium portion at one of three salars, containing 7Mt @ 1,490 ppm Li within 20Mt @ 880 ppm Li – perimeter and depth of deposit largely untested
  • Maiden Mineral Resource Estimate (NI 43-101 compliant by SRK, 2019) of 120Mt of Inferred Mineral Resources grading 4.6% potassium (K) and 380ppm lithium (Li)

1,2 Price sources: March 30, 2022 – 1. Asian Metal, 2. CME Group

Outlook – Project Development Plans – 2022

The Company has been developing its exploration plans for 2022 at its flagship Ranger-Page project in the Silver Valley, Idaho.   Because the Company made a second transaction in the latter part of Q4, 2021, which includes the option to acquire the Page Mine as well as a large unexplored property package that adjoins to the west of the original project, the Company is re-evaluating the project in its entirety.  With that said, the Company will build upon the shortened exploration campaign of 2021 with an expanded ground geophysics IP survey set to begin June 1st, a field program that will include mapping and sampling in addition to compiling a significant amount of recently acquired underground mining data that clearly connects the underground workings over the entire project area.  The Company considers this recently acquired new information incredibly valuable which is further enhancing the understanding of the entire projects’ great potential.   The exploration field campaign will kick off in the latter half of Q2, 2022 with an inaugural drill campaign targeted for the Fall of 2022.

Qualified Person

Timothy Mosey, BSc, MSc, SME, is the qualified person for the company and qualified person as defined by National Instrument 43-101. Mr. Mosey supervised the preparation of the technical information in this news release.

About: Mexican Lithium – Potassium (Sulphate of Potash) Project:

Silver Valley owns a 100% interest in a lithium and potassium bearing salar complex comprising 4,059 hectares on three mineral concessions (the “Mexican Projects”) located on the Central Mexican Plateau in the states of Zacatecas, and San Luis Potosi, Mexico. The NI 43-101 inferred mineral resource contains 12.3Mt of Sulfate of Potash (SOP) and 243,000 tonnes of lithium carbonate equivalent (LCE) and remains open in all directions for expansion.   The Company is currently exploring strategic alternatives for the Project to enhance shareholder value.  The Company considers the asset valuable and important.

About: Ranger-Page Project:

Silver Valley’s primary focus is on its flagship Ranger-Page Project (“The Project”) located in the Silver Valley of Idaho, 60 kilometres east of Coeur d’Alene and 1 kilometre from the I-90 freeway. In 2020 Idaho was ranked the first in the world in policy perception and 9th best mining jurisdiction (Fraser Institute Annual Mining Survey). The Project borders the famous Bunker Hill Mine to the east and for the first time consolidates the western extent of the prolific Silver Valley mining corridor by one operator in the past 100+ years.

The Project is on patented claims, there are no royalties and comprise 6 historical mines. The largest of these, the Page Mine, was a top ten producer in the Silver Valley producing over 1 billion pounds of zinc and lead and 14.6 million ounces of silver. The Page Mine has high grade silver-zinc-lead historic reserves and remains wide open at depth beyond what has been defined to date.

There is shared underground infrastructure connecting the larger Page mine with five shallow historical mines within the larger Project area. The Company has underground mining data and surface geological data that supports high grade silver-zinc-lead mineralization present within the shallow, undeveloped mines. These mines remain open at depth, and laterally along strike.

Exploration potential beyond the historical mines is considered significant due to no modern systematic exploration applied to the project.

 

About Silver Valley Metals Corp.

We are a group of experienced exploration, mining, and financing specialists focused on the pursuit of mineral discovery and development. Our expertise in evaluating targets, consummating strategic and accretive outright sales, joint ventures, and /or acquisitions while maintaining a favourable share structure via the least dilutive option is the mandate for Silver Valley Metals Corp. We look to further de-risk potential projects via obtaining historical geological data that reflects untapped exploration potential that are located in top tier mining jurisdictions preferably near producing mines.

On behalf of the Board of Directors of Silver Valley Metals,

“Brandon Rook”
Brandon Rook, President & CEO, Director

For further information please contact us at:
604-800-4710
info@silvervalleymetals.com

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

The information contained herein contains “forward-looking statements” within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be “forward-looking statements.” Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company’s prospects, properties and business detailed elsewhere in the Company’s disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company’s expectations or projections.

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