Oct 27, 2017
Argentum Provides Corporate Update
Vancouver, BC -- October 27, 2017 -- Argentum Silver Corp. ("Argentum" or the "Company") (ASL- TSX-V) is pleased to announce that it has commenced planning stages for an exploration program on its Butt Township Property in northeastern Ontario. The Company plans to follow up on the results of ground magnetometer and induced polarization surveys carried out by previous owners in 2011. The exploration plan consists of geological mapping, prospecting and sampling to determine the location of radioactive pegmatites and various lithologies on the property and their relationship to the magnetic and chargeability patterns. The Property was acquired for its potential for uranium and rare earth mineralization hosted in pegmatite dykes. The Company signed an option to earn 100% interest in the property (see July 4, 2017 press release for details).
The Company also announces the signing of a Share Purchase Agreement (the "Agreement") dated October 15, 2017, between Argentum and 2592391 Ontario Inc. (the "Buyer"), an Ontario-based company. The Agreement provides for the Buyer to purchase all of Argentum's shares in both of its Mexican subsidiaries, Plata de Argentum and Predilecta Exploration, along with the respective principal amounts of debt due and owing by each of the subsidiaries to Argentum. For a nominal price, the Buyer will purchase all of the Company's shares in the two Mexican subsidiaries and will assume all of the subsidiary debt. The sale will enable the Company to substantially diminish the financial liabilities it holds as a result of its ownership in the Mexican subsidiaries.
The Company is currently reviewing several precious metal mining and exploration opportunities, including its Butt Township Property, in mining-friendly jurisdictions in North and South America. The Company's management has undertaken extensive due diligence on these opportunities and will provide further updates on these developments as they occur.
About Argentum Silver Corp.
Argentum holds a 100% interest in the Coyote and Victoria properties located in Jalisco, Mexico as well as an undivided 100% interest in mining claims located in the Butt Township, Ontario, Canada. For further information, please visit the Company's profile at www.sedar.com.
On behalf of the Board of Directors of Argentum Silver Corp.
/s/Gary Nassif, President & CEO
For information please contact:
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of the word, "will" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Issuer's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially.
Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Issuer. The material factors and assumptions include the ability of the Issuer to meet the conditions for listing of the Exchange. The Issuer cautions the reader that the above list of risk factors is not exhaustive. Those assumptions and factors are based on information currently available to the Issuer. The forward-looking information contained in this release is made as of the date hereof and the Issuer is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws, or as otherwise may be disclosed in this news release. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.