Pantera Silver Closes Amending Agreement

April 03, 2024 1:02 PM EDT | Source: Pantera Silver Corp.

Vancouver, British Columbia--(Newsfile Corp. - April 3, 2024) - Pantera Silver Corp. (TSXV: PNTR) ("Pantera" or the "Company") announces that further to its news release dated November 3rd, 2023, the TSX Venture Exchange has accepted and approved the amendment agreement dated October 30th, 2023 (the "Amendment Agreement") to the Nuevo Taxco option agreement originally dated November 12th, 2020 (the "Option Agreement") with respect to its right to acquire 100% ownership of concessions covering ~1,100 hectares at the Nuevo Taxco Silver Project ("Nuevo Taxco" or the "Nuevo Taxco Project"), located northwest of Taxco, Guerrero, Mexico.

Under amended terms, Pantera will issue 1,500,000 common shares in lieu of making a $150,000.00 final cash payment. A final share payment of 2,000,000 common shares will be due October 30th, 2024. Under the amended terms, the Vendor has the option to accept the 2,000,000 shares or $150,000.00 cash plus 500,000 common shares. In addition, under the amended terms, all work commitments in the first two years of the original agreement have been met and any short fall has been waived. The timeline for completing the final work commitment of $800,000 has been extended to be completed by October 30th, 2025.

With the Company receiving final approval of the Amending Agreement from the TSX Venture Exchange the 1,500,000 common shares will be issued with an effective date of April 2nd, 2024. All shares issued in connection with the Amending Agreement will be subject to a statutory 4-month hold period from their respective date of issue.

Nuevo Taxco Property Highlights

  • Twenty-one (21) high grade veins mapped and sampled within a ~135 hectare area of the property. All have substantial width and mapped lengths run from 150 to 800 meters and remain open along strike and depth.
  • Over 395 samples taken to date have returned assays ranging from 100g/tonne to over 1,000 g/t Silver including three (3) samples (1,430, 1,230, 1,100 g/t), one hundred and nineteen (119) grading over 100 g/t Silver including eighteen (18) samples between 500-900 g/t Silver and ninety-two (92) between 100- 499 g/t Silver.
  • Limited exploration drilling completed which confirmed mineralisation at depth and a new gold zone.
  • Fully permitted for exploration drilling.
  • The entire ~1,100-hectare property is considered substantively unexplored offering additional upside exploration potential.

Qualified Person and NI 43-101 Disclosure

Carlos Cham Dominguez is a "qualified person" within the meaning of the NI 43-101, and is responsible for the technical information disclosed in this news release. Mr. Dominguez is a member of the American Institute of Professional Geologists and a Certified Professional Geologist (CPG) No. 1176

About Pantera Silver Corp.

Pantera Silver Corp. is a mineral exploration and development company committed to enhancing shareholder value by advancing a diverse portfolio of mineral projects through collaborative partnerships and highly experienced technical teams. Pantera will continue to seek out and secure high-quality, unencumbered projects through research, staking and strategic acquisitions. Throughout the process, our mission is to help maintain prosperous communities by exploring for and discovering resource opportunities that build lasting relationships through honest and respectful business and environmental practices while contributing to the growing needs of mined raw materials for a new green economy.

On behalf of the Board of Directors

"Jay Roberge"

Pantera Silver Corp.

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.

This news release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements in this press release include that we can complete the Private Placement. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual financial results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. Pantera Silver Corp disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise, except as required by law.

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