Jul 23, 2013
Argentum Silver reduces land holdings to preserve treasury
July 23, 2013: Vancouver, B.C.: Argentum Silver Corp. (TSX-V: ASL) is focused on advancing its Coyote silver-gold project while reducing holding costs on the balance of its property portfolio. As a result an internal claims review designed to reduce operating costs, Argentum has elected to reduce the size of one of its claims in Jalisco State and two of its claim in Oaxaca State.
In Jalisco State, Argentum has transferred 100% of the mining rights for the La Lupita claim, a 120 hectare property within the Company's Victoria claim block, back to the original title holder. Underground sampling programs designed to rehabilitate the historic Lupita mine did not identify enough tonnage potential to justify continuing with yearly advance royalty payments due to the original title holder to maintain the mining rights. The Company retains a 100% interest in the mining rights to the surrounding Victoria claim, and has made application to the Mexican government to reduce the claim size from 11,105 hectares to 3,164 hectares.
In Oaxaca State, the Company has submitted applications to reduce the 4,200 hectare Lachiguiri and 3,475 hectare Silacayaopan claims. Once the reductions have been approved each property will cover approximately 500 hectares.
By implementing these changes, the Company has reduced its yearly ongoing per-hectare tax and exploration expenditures while retaining title to key exploration zones on each property.
About Argentum Silver
Argentum owns a 100% interest in the Coyote silver-gold project and Victoria property located in Jalisco, Mexico. Argentum also owns a 100% interest in the Lachiguiri and Silacayoapan properties, all located in Oaxaca, Mexico.
On behalf of the Board of Directors of Argentum Silver Corp.
President and Chief Executive Officer
Argentum Silver Corp.
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This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Argentum relies upon litigation protection for forward-looking statements.