(via TheNewswire)
Highlights
Alta Victoria : Option term extended by up to 5 ½ years and monthly payments ofUSD$10,000 per month suspended for up to 18 months.Politunche: Option term extended by 6 months, and monthly payments of
USD$5,000 per month suspended for 6 months.
The results from our 2022 drilling campaign at Alta Victoria (see news release of
Given the highly prospective nature of the project and the deeper drilling required, we believe that it is in the best interests of our shareholders to find a partner to fund the next stage of exploration, whilst retaining exposure to the discovery potential at Alta Victoria. The option to extend the agreement term by 5 ½ years and suspension of monthly cash payments gives us the time to find a suitable partner for the project.
At our Politunche project 15 kms southwest of
*Note that AgEq calculations in this press release are based on the following parameters:
Headline changes to Option Agreements
Option agreement term extended by up to five (5) years and six (6) months to
September 2028 .Monthly cash payments of
USD$10,000 suspended for up to eighteen (18) months fromMarch 2023 toSeptember 2024 .Total acquisition cost for 100% ownership of the project increased from
USD$4 million toUSD$5 million such cost to include the cumulative monthly payments plus final option payment.Highlander Silver may terminate the agreement, in its sole discretion, at any time.
Politunche
Option agreement term extended for six (6) months from
February 2026 toJuly 2026 .Monthly cash payments of
USD$5,000 suspended for six (6) months fromMarch 2023 toSeptember 2023 .Monthly cash payments of
USD$5,000 to beginSeptember 2023 and endJune 2024 .Monthly cash payments of
USD$10,000 to beginJuly 2024 and endJune 2026 .Final option payment of
USD$1,735,000 due onJuly 17th 2026 the Company elects to acquire 100% of the project.Total acquisition cost increased for 100% ownership of the project increased from
USD$2 million toUSD$2.1 million .Highlander Silver may terminate the agreement, in its sole discretion, at any time.
Qualified Person
All scientific and technical information contained in this news release was prepared and approved by
About
Neither the Canadian Securities Exchange (CSE) nor the
For further information, please contact:
Chief Executive Officer
(604) 283 7630
info@highlandersilver.com
Forward-Looking Information
Certain information contained in this news release constitutes “forward-looking information” under Canadian securities legislation. This includes, but is not limited to, information or statements with respect to the future exploration plans of the Company, permitting, timing of future exploration and potential partners on the Company’s projects. Such forward looking information or statements can be identified by the use of words such as “anticipates”, “plans”, “suggests”, “targets” or “prospects” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “will” be taken, occur, or be achieved. Forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company and/or its subsidiaries to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking information. Such factors include, among others, general business, economic, competitive, political and social uncertainties, the actual results of current exploration activities,changes in project parameters as plans continue to be refined, , accident, labour disputes and other risks of the mining industry, and delays in obtaining governmental approvals or financing. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that could cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking information contained herein are made as of the date of this news release. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change, except as required by applicable securities laws. Accordingly, the reader is cautioned not to place undue reliance on forward-looking information.
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