May 10, 2021
Argentum Sells Interest in Vanadium Ridge Property
TORONTO, ON - May 10, 2021 - Argentum Silver Corp. ("Argentum" or the "Company") (TSXV: ASL) announces that it has entered into a mining claim acquisition agreement (the "Agreement") with Imbue Capital ("Imbue") pursuant to which the Company has agreed to sell its 80% right, title, and interest in the Vanadium Ridge Property (the "Property") north of Kamloops, British Colombia.
Pursuant to the terms of the Agreement, Argentum has agreed to sell its interest in the Property, in exchange for total consideration of $600,000, consisting of $200,000 in cash and $400,000 in stock. More specifically, the payment schedule for the sale of the Property is as follows:
Shortly after signing the Agreement, Imbue paid $50,000 in cash and has issued 78,125 Ares shares to Argentum, the number of shares issued based on the 10-day VWAP of $0.64 prior to the signing of the Agreement. Ares Strategic Mining (ex-Lithium Energy Products) is the 20%-interest holder of the Property. The transaction remains subject to approval of the TSX Venture Exchange and the common shares issuable thereunder will be subject to a four-month hold period from the date of issuance.
Gary Nassif, M.Sc., P.Geo., a Qualified Person ("QP") as such term is defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the geological information reported in this news release.
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