TORONTO, July 16, 2025 /CNW/ - Silver Mountain Resources Inc. ("Silver Mountain" or the "Company") (TSXV: AGMR) is pleased to announce the signing of a landmark 20-year surface land use agreement (the "Agreement") with the Community of Salcca Santa Ana, marking the final approval required to restart operations at the Company's flagship Reliquias Mine, located in the historic mining district of Castrovirreyna, in Huancavelica, Peru.
The Agreement grants Silver Mountain long-term access to key surface areas critical for infrastructure, mining operations, and environmental management. It complements the 20-year agreement previously secured with the Community of Castrovirreyna, meaning that all community-related and regulatory approvals are now in place to recommence production activities at the Reliquias Mine.
The Agreement was reached through an inclusive and respectful dialogue process, reinforcing Silver Mountain's commitment to building strong and enduring partnerships with local communities.
"This milestone clears the path for a full restart of the Reliquias Mine," stated Álvaro Espinoza, CEO of Silver Mountain Resources. "We are extremely grateful for the support and trust of the Salcca Santa Ana community. With both cornerstone community agreements secured, we are ready to move forward with a modern and responsible mining operation that will generate long-term value for all our stakeholders — from our investors to the local population."
With this final agreement secured, Silver Mountain will commence preparations to begin development and operations at the Reliquias Mine. The Company will provide updates in due course outlining the project development schedule and key milestones.
About Silver Mountain Resources Inc.
Silver Mountain Resources Inc. is a Canadian silver exploration and development company focused on the restart of its 100%-owned silver-polymetallic projects in central Peru. The Company's principal asset is the past-producing Reliquias underground mine, which is being advanced toward recommencement of operations. Silver Mountain is committed to high environmental and social standards and aims to build one of the next great Peruvian silver producers.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, "forward-looking statements") that relate to Silver Mountain's current expectations and views of future events. Any statements that express or involve discussions as to expectations, beliefs, plans, objectives, assumptions, or future events or performance (often, but not always, through the use of words or phrases such as "will likely result," "are expected to, "expects", "will continue," "is anticipated," "anticipates," "believes," "estimated," "intends," "plans," "forecast," "projection," "strategy," "objective" and "outlook") are not historical facts and may be forward-looking statements and may involve estimates, assumptions, and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements in respect of the recommencement of operations at the Reliquias Mine. No assurance can be given that these expectations will prove to be correct, and such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release.
Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond Silver Mountain's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, the factors set forth under "Caution Regarding Forward-Looking Statements" and "Risk Factors" in the Company's Annual Information Form dated April 26, 2024, and other disclosure documents available on the Company's profile on SEDAR+ at www.sedarplus.ca. Silver Mountain undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for Silver Mountain to predict all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.
