SILVERTON METALS acquires real estate MARGARITAS GOLD-SILVER, DURANGA, MEXICO | News

VANCOUVER, BC, May 30, 2022 / PRNewswire / – Silverton Metals Corp. (TSX-V: SVTN, OTCQB: SVTNF) “Silverton(or “Company”) is pleased to announce that it has entered into a share purchase agreement with Zapata Exploration Ltd. (“Zapata”) and 0924682 V.C. Ltd. (“0924682”) to acquire the property of Margaritas Gold-Silver (“Margaritas”) by purchasing all issued and issued shares of the Mexican subsidiary of Zapata, the Mexican subsidiary of Zapata, Impulsora De Proyectos Mineros, SA De CV (“Impulsora”). Margaritas Gold Estate consists of two concessions with a total area of ​​500 hectares located in the state Durango, Mexico.

Highlights of Margaritas Gold Real Estate:

  • An unexplored high-quality epitermal gold-silver deposit located in the productive volcanic rocks of Western Sierra Madre.
  • Gold grades include 73.7 g / t in dumped samples and 31.6 g / t in rock channel samples with a silver content of 1 to 38 g / t.
  • The vein is exposed at 3.5 km in extension and 240 meters vertically.
  • Handicraft production exists, but the vein has never been drilled.

John Theobald, president and CEO, commented: “We are very excited to acquire Margaritas as it contains high quality gold vein, open in all directions with visible gold and potential deposit. Both the environmental permit application and the process of agreement with the community Favorable terrain facilitates drilling and tunneling, and ultimately facilitates underground mining.Simple mineralogy suggests that gold could be easily extracted by gravity and leaching methods.We plan to rebuild roads, refine mapping and sampling. and prepare the project for drilling by the end of the year. “

Margarita’s Golden Real Estate

Margaritas Golden Estate consists of two concessions, Margaritas and Ampliacion las Margaritas, occupying a total of 500 hectares located in the south-west corner Durango, Mexico.

Previous operator sampling of gravel in the channel proved gold from 0.01 to 31.6 g / t and from 0.7 to 73.7 g / t in dumps. Silver grades range from detection limit (<0.2 g / t) to 38 g / t in dump and rock channel samples. Visible gold is found in pits, trenches and dumps located along the central part of the dwelling.

A deposit is an epithelial system dominated by gold with a low level of sulfidation, similar to productive deposits, e.g. La Sienega, and Bacis in Durango, located 250 kilometers northwest of Margaritas. The mineralization on the gold-silver estate of Margaritas consists of native gold and associated silver, as well as empty empty silicon, clays and traces of pyrite contained in a fault-controlled quartz vein, and faults located in tertiary rhyolites-produc- tion. The vein is mapped along a length of 3,500 meters; on the surface the vein averages one meter wide and has a maximum width of 4 meters. Vein walls exhibit halos of hydrothermal changes that are potentially mineralized. A sample 2 meters wide, for example, in argilized rock at the base of the vein, reported 1 g / t Au.

Terms of the transaction

In order to acquire all issued and placed Impulsora shares, the Company agreed to issue 750,000 ordinary shares (“Considered Shares”) and provide a net profitability of the smelter of 0.5%, which can be redeemed at US price. $ 250,000. Zapata and 0924682 are a privately held company controlled Chris Osterman and Raoul Diaz-Unzueta.

Impulsora originally acquired its stake in Margaritas Property in accordance with the terms of the transfer of the mining concessions and the amendment agreement (the “Basic Agreement”). Under the terms of the Basic Agreement, Margaritas property is subject to 1% of the net profitability of the smelter, which can be redeemed in the US $ 320,000 (of which the United States $ 120,000 was paid). The rest of the US $ 200,000 should be paid as follows: USA $ 100,000 plus VAT April 25, 2023 and the United States $ 100,000 plus VAT April 25, 2024. If Impulsora does not start commercial production or buy out royalties before April 25, 2024the original owner can redeem the property of Margaritas for $ 1.

Closing the acquisition is subject to the fulfillment of certain customary conditions and the acceptance of the TSX venture exchange.

Qualified person

The scientific and technical information contained in this news release has been reviewed and approved Peter BourneP. Geo., Qualified Person by NO 43-101.

On behalf of the Council

John Theobald

President, CEO and Director

Silverton Metals Corp.

About Silverton Metals Corp.

Silverton Metals Corp is a Canadian company focused on exploration and development of quality silver projects. The company owns 100% stake in three significant silver assets Mexico – Pluto, in Durango, Penasca Kemada in Sonora and La Frazada in Nayarit. Silverton management and board have experience in identifying and evaluating acquisition objectives and intelligence prospects. The company intends to create a strong portfolio of silver and gold-silver projects to stimulate future growth through the success of exploration and later-stage projects with production capacity. To achieve this growth Silverton The business plan provides for a dynamic combination of existing facilities development, acquisitions and partnerships.

For more information, please contact:

Silverton Metals Corp.

В. Barry Gorlingvice president of corporate development and director

(604) 683-0911

Statements about the future

The information contained in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect current assessments, beliefs, intentions and expectations of management. They are not a guarantee of future performance. Silverton warns that all forward-looking statements are inherently uncertain and that actual work may be affected by a number of significant factors, many of which go beyond Silverton control. Such factors include, but are not limited to: the risks and uncertainties associated with Silverton limited operating history and the need to comply with environmental and government regulations. Accordingly, actual and future events, conditions, and outcomes may differ materially from the estimates, beliefs, intentions, and expectations expressed or implied in the forward-looking information. Except as provided by applicable securities law, Silverton undertakes no obligation to publicly update or revise forward-looking information.

NEITHER TSX VENTURE EXCHANGE OR ITS REGULATORY SERVICE PROVIDER (AS THIS TERM IS DEFINED IN TSX VENTURE EXCHANGE POLICY) WILL BE CARRIED OUT.

For more information, please contact:

Silverton Metals Corp.

www.silvertonmetals.ca

В. Barry Gorlingvice president of corporate development and director

(604) 683-0911

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SOURCE Silverton Metals Corp.

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