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Millrock Reports On Exploration Results, Return Of Property, Apex Gold Project, Southeast Alaska

Figure 1

Project Location Map
Project Location Map

Figure 2

Soil sample locations and results for gold assays, Apex project.
Soil sample locations and results for gold assays, Apex project.

Key Highlights:

  • Surface geochemical program completed August 2021 identified new gold in soil anomaly extending over one kilometer northeast of old workings.
  • Results up to 1.09 ounces per ton gold and 1.10 ounces per ton silver in soil samples.
  • Anomaly located downslope and along strike from the Apex Mine.

VANCOUVER, British Columbia, March 09, 2022 (GLOBE NEWSWIRE) — Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) (“Millrock” or the “Company”) reports that positive assay results from a sampling and mapping program carried out in August 2021 have been received and compiled. The soil sampling results indicate that known mineralization at the former-producing Apex Mine likely extends 1,000 meters to the northeast.

Millrock President & CEO commented: “These are excellent results that show the gold-bearing quartz vein structure known from historic mining has significant strike continuity. Some of the soil sample numbers are of exceptional tenor.”

The exploration work was completed during August 2021 and consisted of a soil geochemical survey (439 samples), rock sampling (39 samples), and geologic mapping. Soil samples were collected along a 20 meter by 40 meter spaced grid. The survey was designed to test the presence and extent of gold-bearing quartz veins along strike and down-valley from known gold mineralization at the historic Apex and El Nido Mines located within the Cann Creek drainage.

Figure 1. Project Location Map is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9cbfaf28-0aa9-452b-b688-e765553b6481

Figure 2. Soil sample locations and results for gold assays, Apex project is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/94bb9851-3fb9-4d5d-b5f6-ed3ab84dae08

All assay results have been received from the exploration work. A broad gold in soil anomaly was identified by the geochemical survey in the lower cirque valley of Cann Creek. Assays of soil samples returned values ranging from below detection to a maximum of 33,900 parts per billion gold (1.09 ounces per ton) and 34,400 parts per billion silver (1.10 ounces per ton). One hundred and seven of the 439 samples collected returned highly anomalous values exceeding 80 parts per billion gold. The anomaly occurs at approximately 300 meters elevation below outcropping vein exposures that host the Apex Mine and extends over one kilometer down valley from the historic workings, along strike of the vein swarm. The anomaly is also underlain by the same rock units (diorite and amphibolite) that hosts the Apex vein.

On August 12, 2021, Millrock announced that it had entered into an agreement with Coeur Explorations, Inc., a wholly-owned subsidiary of Coeur Mining, Inc. (“Coeur”), concerning the Apex gold project in Southeast Alaska. Under the agreement, Coeur agreed to fund approximately $200,000 worth of exploration work. Coeur has met its obligations by funding the work, but has elected to terminate the option agreement. Millrock is free to further explore the project on its own or find another earn-in partner.

Millrock President & CEO Gregory Beischer commented: “We enjoyed working with the Coeur Explorations team and thank Coeur for advancing the project. The soil anomaly presents a compelling target for drilling and significantly expands the strike potential of the small, historic underground mine”.

Quality Control – Quality Assurance
Millrock adheres to stringent Quality Assurance – Quality Control (“QA/QC”) standards. In this case, the assay work was done under an agreement between Coeur and the assay laboratory. Samples are kept in a secure location at all times. Samples were assayed at the Bureau Veritas laboratory in Vancouver, Canada. Preparation and analysis methods are described in further detail here. The sample preparation method codes utilized for the program were SS80 for Soils and PRP70-250 for Rocks. Analytical methods used were FA430 (lead collection fire-assay fusion-AAS finish) and MA250 (4 acid digestion Ultratrace ICP-MS) for all samples. A 10% QA/QC sample insertion rate was used for all samples: 5% CRM (Certified Reference Materials) of known gold concentration and 5% blank material. The Qualified Person is of the opinion that the results reported in this press release are reliable.

Qualified Person
The scientific and technical information disclosed within this document has been prepared, reviewed, and approved by Gregory A. Beischer, President, CEO, and a director of Millrock Resources. Mr. Beischer is a qualified person as defined in NI 43-101.

About Millrock Resources Inc.
Millrock Resources Inc. is a premier project generator to the mining industry. Millrock identifies, packages, and operates large-scale projects for joint venture, thereby exposing its shareholders to the benefits of mineral discovery without the usual financial risk taken on by most exploration companies. The company is recognized as the premier generative explorer in Alaska, holds royalty interests in British Columbia, Canada, and Sonora State, Mexico, is a significant shareholder of junior explorer ArcWest Exploration Inc., and owns a large shareholding in each of Resolution Minerals Limited and Felix Gold Limited. Funding for drilling at Millrock’s exploration projects is primarily provided by its joint venture partners. Business partners of Millrock have included some of the leading names in the mining industry: EMX Royalty, Coeur Explorations, Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet, and Altius, as well as junior explorers Resolution, Riverside, PolarX, Felix Gold and Tocvan.

ON BEHALF OF THE BOARD
“Gregory Beischer”
Gregory Beischer, President & CEO

FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
Toll-Free: 877-217-8978 | Local: 604-638-3164
Twitter | Facebook | LinkedIn

Some statements in this news release may contain forward-looking information (within the meaning of Canadian securities legislation) including without limitation the intention to form earn-in joint venture agreements and to perform further exploration. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements.

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What the DSI is Saying Today

Bob Moriarty
Archives
Mar 9, 2022

Regular readers are well aware of how important I believe the DSI is. Frankly if you are a serious investor and have a substantial sum in the market, the information is the most valuable I am aware of. As Rick Rule likes to say, “You are either a contrarian or a victim.”

Since the MSM and Klaus Schwab demand we pay all our attention to what might be a make believe war in Ukraine you probably should be aware of the DSI numbers. Many are as extreme as any time that I can remember. If we were in a normal world these would be turning points either up or down. Since we don’t live in a normal world but a multi-part horror show led by the WEF, I can’t tell you what the numbers really mean today.

As of March 8th, the DSI is:
Gold95 
Silver93 
Platinum90 
Palladium91 
S&P11 
Nasdaq13 
Euro9(hit a low of 5 on the 6th and 7th)
Dollar88(hit a high of 92 on the 7th)
Crude93(hit 96 on the 6th and 7th)
Heating93(hit 97 on the 6th and 7th)
Gasoline93(hit 97 on the 6th)
Wheat83(hit 96 on the 6th and 7th)
CRB93(hit 95 on the 6th)

To me it suggests the possibility of a turn in all these commodities.

###

Bob Moriarty
President: 321gold
Archives

321gold Ltd

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Gold surges above $2,000 and extends rally toward 18-month high, palladium rises to a record

Gold futures jumped above $2,000 an ounce on Tuesday, extending its rise toward its highest price since August of 2020 as the war in Ukraine fueled bids for safe haven assets like bullion.

Meanwhile, palladium prices were running near an all-time high as the Ukrainian crisis in its second week, prompted a surge higher in the broad commodity complex.

April gold GCJ22, 2.47%   GC00, 2.45% rose $18.90, or 1%, to $2,015.20 an ounce, following a 1.5% advance on Monday, which has put bullion at around the highest level in about 18 months, hitting a Tuesday peak at $2,027.80.Gold Continuous ContractSource: FactSetAs of March 8, 9:56 a.m. ETApril 2020’21’221,4001,5001,6001,7001,8001,9002,000$2,100

Despite the rally in gold, some market participants are skeptical about the continued upside in the precious metals. At least one strategist speculated that restrictions on purchasing crypto, such as bitcoin, would prompt Russia’s central bank to dump a chunk of its reserves of gold to get cash.

“The Bank of Russia, for the most part, has no other means but to sell off the gold from its reserves in Russia. These steps could be taken tomorrow, as Monday and Tuesday were national holidays [in Russia],” wrote Alex Kuptsikevich, a senior financial analyst at FxPro, in a Tuesday note.

Thus far, gold prices, and those for other precious metals, have been buttressed by doubts about central bankers’ ability to limit the rise in inflation in the face of the geopolitical tensions.

“Investors are liquidating their positions in risky assets and are hesitant to pump more capital into equity markets,” wrote Naeem Aslam, chief market analyst at AvaTrade, in a research note. “These dynamics have pushed the price of the yellow metals towards $2,000.”

Meanwhile, futures for palladium were rallying toward $3,000, with the white precious metal gaining $68.10, or 2.4%, to $2,970 an ounce, at last check, carving out a fresh all-time high.

A retreat in the dollar, down 0.2%, from a 2020 peak, as measured by the ICE Dollar Index DXY, -0.34%, also was helping to support purchases among overseas buyers.

Source: https://www.marketwatch.com/story/gold-surges-above-2-000-and-extends-rally-toward-18-month-high-palladium-rises-to-a-record-11646742589

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Report From a Canadian Truck Supporter on Banks

Bob Moriarty
Archives
Mar 8, 2022

I wrote an important piece last week. Here is a response from one of the trucker supporters married to a banker.

“If the best run and most financed bank in the world has a bank run, they close the doors. Well, the entire banking system in Canada froze and the real reason Trudeau and Freeland did a 180 degree turn overnight was because they were told by the banks that unless Trudeau wanted to kill the entire economy of Canada, they had to cut out the stupid shit.”

Yup. I was there in the trenchs and my sweet Beryl, teller at the CIBC, was shell shocked. She’d never seen that much money go out the door. I live in a very upper middle class/rich neighbourhood and people were walking in and demanding 20K or 50K and their USD. It was awesome and it scared the shit out of the banks. Accounts were being closed, investment accounts moved, RSPs transferred.

The truckers lit the fire, the bank run turned it into an inferno.

I wrote Bill back and asked if I could repost what he said.

Absolutely.

To add a bit of flavour. I wanted to pull USD from my USD account. The branch had to order the cash. Fair ball. But poor Beryl had to go four days with “Well, things are slow at the cash place.”  “Covid, they are short staffed.”

I love Beryl. I had to tell her I would be “annoyed” if the cash did not get in next business day. It did. So I was able to tell Beryl I was delighted and would not have to parade in front of the bank with my sign, “Where’s my money?”

She was relieved.

A lot of Canadians drained their accounts or closed them altogether. It was quiet but it was very, very, effective.

You can think you have all the power in the world but when you are wrong it can get expensive. Trudeau and Freeland didn’t have the power they thought they had.

Wait until the world wakes up to the stupidity of the US and EU loading Russia up with sanctions. They just blew up the entire paper money system. It will destroy the Euro first, then the bond market and then the dollar. When you fire any weapon there is always blowback.

###

Bob Moriarty
President: 321gold
Archives

321gold Ltd

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Riverside Resources and Agnico Eagle Mines Reach Sale Agreement for The Pima Property, Santa Gertrudis Mine Area, Sonora, Mexico

February 24, 2022 – Vancouver, BC: Riverside Resources Inc. (“Riverside” or the “Company”) (TSX-V: RRI) (OTCQB: RVSDF) (FSE: 5YY), is pleased to report it has signed an agreement with Agnico Eagle Mines Limited (TSX:AEM) for the sale of the Pima Property located in Sonora, Mexico, where Riverside will receive cash and completes the pass through royalty transfer with Millrock Resources Inc (TSV:MRO). The Pima Project is part of the Santa Teresa Gold Mining District which includes the Santa Gertrudis Gold Mine owned by Agnico Eagle. The Pima mineral concession is located inside Agnico’s property tenure and south of the known mine operation. Acquiring the Pima project allows Agnico to consolidate another part of its property concession and provides cash to Riverside. As a reminder, this project was originally added to Riverside’s portfolio as part of the 2019 purchase of the Millrock’s set of 5 (five) assets that included the Cuarentas and La Union projects (see press release September 11, 2019). This current transaction with Agnico allows Riverside to recover the amount of the Millrock transaction with profit and pass on the royalty to Millrock who has been a positive partner with the Company in Mexico.Riverside is now focusing on its 100% owned projects within its portfolio, including the Cuarentas Gold Project, which is located southeast of Agnico’s property and where drilling in 2021 discovered gold in intermediate sulfidation veins. Riverside plans to progress further work at the Cuarentas project in 2022. About Riverside Resources Inc.: 
Riverside is a well-funded exploration company driven by value generation and discovery. The Company has over $4.5M in cash, no debt and less than 75M shares outstanding with a strong portfolio of gold-silver and copper assets and royalties in North America. Riverside has extensive experience and knowledge operating in Mexico and Canada and leverages its large database to generate a portfolio of prospective mineral properties. In addition to Riverside’s own exploration spending, the Company also strives to diversify risk by securing joint-venture and spin-out partnerships to advance multiple assets simultaneously and create more chances for discovery. Riverside has properties available for option, with information available on the Company’s website at www.rivres.com

ON BEHALF OF RIVERSIDE RESOURCES INC.

“John-Mark Staude”

Dr. John-Mark Staude, President & CEO
 
For additional information contact:John-Mark Staude
President, CEO
Riverside Resources Inc. 
info@rivres.com
Phone:   (778) 327-6671
Fax:   (778) 327-6675
Web:  www.rivres.comRaffi Elmajian
Corporate Communications
Riverside Resources Inc.
relmajian@rivres.com 
Phone: (778) 327-6671
TF: (877) RIV-RES1
Web: www.rivres.com Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward-looking terminology (e.g., “expect”,” estimates”, “intends”, “anticipates”, “believes”, “plans”). Such information involves known and unknown risks — including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
 
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.The Communications Team
Riverside Resources Inc.
info@rivres.com
Phone:  (778) 327-6671 x 312
Toll Free: 1-877-RIV-RES1 (748-7371)
Web:  www.rivres.com
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Rover Metals Announces Increase to Previously Reported Intervals at Andrew Zone, Cabin Gold Project, NT, Canada

Rover Metals Corp.
Rover Metals Corp.

VANCOUVER, British Columbia, Feb. 23, 2022 (GLOBE NEWSWIRE) — Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FSE:4XO) (“Rover” or the “Company”) is pleased to report, that further to its release on January 13, 2022, the gold mineralization at the Andrew Zone does extend past the primary sulfide intervals in the drill core. The Company has received its new December 2021 samples back from the lab and is pleased to be reporting longer mineralized intervals at the Andrew Zone South, and Andrew Zone North.

Andrew Zone South
The Company is now reporting significant intervals of:

  • 7.4m of 1.64 g/t Au (from 63.1m to 70.5m) at hole CL-21-25, or an increase of approximately 5m to the previously reported interval;
  • 2.3m of 1.21 g/t Au (from 53.0m to 55.3m) closer to surface in hole CL-21-25;
  • 4.5m of 2.62 g/t Au (from 50.4m to 55.1m) at hole CL-21-24 (which previously reported 3.9m of 2.91 g/t Au);

The updated cross-sections for holes CL-21-24 and CL-21-25 will be available on Rover’s website in the coming days.

Andrew Zone North
The Company is now reporting a significant interval of:

  • 6.4m of 1.88 g/t Au (from 37.6m to 44.0m) at hole CL-21-29, or an increase of approximately 3m to the previously reported interval

Judson Culter, CEO at Rover Metals, states, “the Andrew Zone has a surface strike length of approximately 800m from south to north, and is open at depth. Follow-up drilling is needed to further delineate this zone at depth.”

Updated Tables of Significant Drill Results

HoleSample IDFromToIntervalAu g/tZone
CL-21-24Y03157950.3751.000.630.78Andrew South
CL-21-24V74810251.0051.500.502.77Andrew South
CL-21-24V74810351.5052.010.510.15Andrew South
CL-21-24V74810452.0152.760.751.57Andrew South
CL-21-24V74810552.7653.100.343.63Andrew South
CL-21-24V74810653.1053.410.315.16Andrew South
CL-21-24V74810753.4153.800.391.79Andrew South
CL-21-24V74810853.8054.200.403.57Andrew South
CL-21-24V74810954.4554.770.326.11Andrew South
CL-21-24V74811054.7755.120.354.93Andrew South
HoleSample IDFromToIntervalAu g/tZone
CL-21-25V74812553.0053.450.451.64Andrew South
CL-21-25Y03156853.4553.960.510.22Andrew South
CL-21-25Y03156953.9654.720.761.95Andrew South
CL-21-25Y03157054.7255.260.540.75Andrew South
CL-21-25Y03157163.0763.510.440.06Andrew South
CL-21-25Y03157263.5163.950.443.39Andrew South
CL-21-25V74812663.9564.250.300.73Andrew South
CL-21-25Y03157764.2564.800.580.30Andrew South
CL-21-25Y03157364.8065.420.621.17Andrew South
CL-21-25V74812765.4265.880.461.72Andrew South
CL-21-25V74812865.8866.180.300.22Andrew South
CL-21-25V74812966.1866.580.402.16Andrew South
CL-21-25Y03157466.5867.090.510.18Andrew South
CL-21-25V74813067.0967.390.304.01Andrew South
CL-21-25V74813167.3967.760.370.41Andrew South
CL-21-25Y03157567.7668.000.240.12Andrew South
CL-21-25V74813268.0068.350.350.50Andrew South
CL-21-25V74813368.3568.680.330.64Andrew South
CL-21-25V74813468.6868.980.301.59Andrew South
CL-21-25V74813568.9869.680.704.27Andrew South
CL-21-25V74813669.8270.120.301.07Andrew South
CL-21-25V74813770.1270.460.345.55Andrew South
HoleSample IDFromToIntervalAu g/tZone
CL-21-29V74815337.6038.000.402.72Andrew North
CL-21-29V74815438.0038.400.404.75Andrew North
CL-21-29V74815538.438.700.301.18Andrew North
CL-21-29V74815638.7039.100.404.83Andrew North
CL-21-29Y03158339.1039.370.270.39Andrew North
CL-21-29V74815839.3739.710.341.31Andrew North
CL-21-29V74815939.7140.090.385.61Andrew North
CL-21-29V74816040.0940.390.304.43Andrew North
CL-21-29V74816140.3940.820.430.60Andrew North
CL-21-29Y03158940.8241.700.881.06Andrew North
CL-21-29V74816241.7042.010.311.48Andrew North
CL-21-29Y03158942.0142.250.241.06Andrew North
CL-21-29V74816542.9743.370.400.92Andrew North
CL-21-29Y03158543.3744.000.630.47Andrew North


Drill core is cut with half sent to ALS Global Laboratories (ALS) for crushing to <2 mm with 250 g split pulverized to -75 µm (200#). ALS is an ISO 17025 accredited laboratory. A 30g change is fire assayed and analysed using AAS finish for Gold.

True thickness of the intervals reported herein have not been calculated, therefore, all intervals are reported as drill core intervals and should be considered apparent thicknesses. Program gold averages are reported at weighed averages.

Technical information in this news release has been approved by David White, P.Geo., Technical Advisor of Rover and a Qualified Person for the purposes of National Instrument 43-101.

About Rover Metals
Rover is a precious metals exploration company specialized in North American precious metal resources that is currently advancing the gold potential of its existing projects in the Northwest Territories of Canada (60th parallel). The Company completed Phase 2 Exploration at its 100% owned Cabin Gold Project (“Cabin”) in 2021. The Company’s secondary asset, the Up Town Gold Project (for which it retains a 25% ownership interest), also saw the completion of Phase 2 Exploration Drilling in Q4-2021, and the results are expected in Q1-2022. The Company anticipates commencing its Phase 3 Exploration Program at Cabin in March of this year.

You can follow Rover on its social media channels:
Twitter: https://twitter.com/rovermetals
LinkedIn: https://www.linkedin.com/company/rover-metals/
Facebook: https://www.facebook.com/RoverMetals/
for daily company updates and industry news, and
YouTube: https://www.youtube.com/channel/UCJsHsfag1GFyp4aLW5Ye-YQ?view_as=subscriber
for corporate videos.
Website: https://www.rovermetals.com/

ON BEHALF OF THE BOARD OF DIRECTORS
“Judson Culter”
Chief Executive Officer and Director

For further information, please contact:
Email: info@rovermetals.com
Phone: +1 (778) 754-2617

Statement Regarding Forward-Looking Information

This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Rover’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. There can be no assurance that such statements prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these forward-looking statements. Any factor could cause actual results to differ materially from Rover’s expectations. Rover undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.

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Silver Hammer Expands Land Package and Reports Results of Recent Rock Sampling at
the Past-Producing Silverton Silver Project in Nevada

Silver Hammer Mining Corp.
Silver Hammer Mining Corp.

Figure 1

Silverton Project – Map of Silver Hammer claim blocks and locations of rock-chip samples with silver assays graphically indicated
Silverton Project – Map of Silver Hammer claim blocks and locations of rock-chip samples with silver assays graphically indicated

Table 1

Notable silver assays for January 2022 rock-chip samples
Notable silver assays for January 2022 rock-chip samples

VANCOUVER, British Columbia, Feb. 16, 2022 (GLOBE NEWSWIRE) — Silver Hammer Mining Corp. (CSE: HAMR/OTCQB:HAMRF) (“Silver Hammer” or the “Company”) is pleased to report exploration results from a rock sampling and mapping program that has led to Company more than doubling the Silverton Project area through the staking of additional claims. The Silverton Project is located 129 kilometres (“km”) northeast of the Tonopah silver district in Nevada and was acquired by the Company in 2021.

Program Highlights:

  • Obtained multiple rock-chip samples of silver mineralization assaying up to 330 grams per tonne (“g/t”) silver (“Ag”) southwest of the former Silverton Mine
  • New samples, together with structural information obtained in the field, suggest historically mined silver zone extends to southwest and potentially continues under colluvium and post-mineral volcanic rocks
  • Added 19 claims (516 acres) to cover potential extension of the silver zone mined by previous operators the Silverton Mine
    “Based on our exploration completed to date at the Silverton Project, where minor silver production occurred in the 1930s, we believe that the historical mining developed just a small portion of a significantly larger zone or system of silver mineralization that has now been shown to extend hundreds of metres southwest of the old mine,” stated President & CEO Morgan Lekstrom. “Detrital sediments and young volcanic rocks appear to overlie and obscure the silver mineralized system southwest of the mine and we now believe that the strike extent of the system could be significantly expanded. Consequently, we have filed for 19 additional claims in a block that is contiguous with our original six-claim Silverton Project.

Figure 1. Silverton Project – Map of Silver Hammer claim blocks and locations of rock-chip samples with silver assays graphically indicated.
https://www.globenewswire.com/NewsRoom/AttachmentNg/36dfe573-e60a-4650-a2b2-e5df2b8ff6a7

Technical Information

Assay results from 102 rock-chip samples, 40 of which were collected in January of this year, indicate that the silver mineralization in the historic Silverton Mine area is hosted by fractured limestone and quartzite beds, with distinct structures of brecciated limestone containing the highest-grade silver. These structures, also marked by patchy silicification and quartz-iron oxide veinlets, generally trend north 030° east. When the mineralized structures are followed southwest from the mine they are soon obscured by colluvium. Table 1 below, lists some of the better silver assays for the recently collected rock samples.

Table 1. Notable silver assays for January 2022 rock-chip samples
https://www.globenewswire.com/NewsRoom/AttachmentNg/635dac0c-9b05-48e5-a5db-43b1079411a5

*Sb=Antimony; ppm=parts per million

The Company’s plans for 2022 include more detailed field work to understand the controls on the mineralization, including but not limited to hyperspectral, and geophysical setting Silver Hammer up for drill targeting and drilling in the 2nd half of 2022.

Qualified Person

Technical aspects of this press release have been reviewed and approved by Philip Mulholland, P.Geo., the designated Qualified Person (QP) under National Instrument 43-101.

About Silver Hammer Mining Corp.

Silver Hammer Mining Corp. is a junior resource company advancing the flagship past-producing Silver Strand Mine in the Coeur d’Alene Mining District in Idaho, USA, as well both the Eliza Silver Project and the Silverton Silver Mine in one of the world’s most prolific mining jurisdictions in Nevada and the Lacy Gold Project in British Columbia, Canada. The Company has commenced an initial drill program at Silver Strand that will test for silver and gold mineralization immediately below the mine’s lowest level extending only 90 metres below surface. Silver Hammer strives to become a multi-mine silver producer and will focus near-term exploration and drilling plans at the Company’s Idaho and Nevada silver-gold assets.

(Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company’s property.)

On Behalf of the Board of Silver Hammer Mining Corp.

Morgan Lekstrom, President and CEO

Corporate Office: 551 Howe Street, Vancouver, British Columbia V6C 2C2, Canada

For investor relations inquiries, contact:

Kristina Pillon, High Tide Consulting Corp.
T: 604.908.1695
E: investors@silverhammermining.com

For media inquiries, contact:

Adam Bello, Primoris Group Inc.
T: 416.489.0092
E: media@primorisgroup.com

The CSE does not accept responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has neither approved nor disapproved the contents of this press release.