TORONTO, July 20,
2023 /CNW/ - Silver Mountain Resources Inc. (TSXV:
AGMR) (OTCQB: AGMRF) (BVL: AGMR) ("Silver Mountain",
"AGMR" or the "Company") is pleased to announce that
Alejandra Soto has been appointed as
the Chief Financial Officer of the Company, effective
immediately. With the addition of Ms. Soto, the Company has
finalized assembling the management team that is expected to take
Silver Mountain's first mine into production.
Ms. Soto will play a crucial role in ensuring the financial
stability and growth of the Company by providing strategic
leadership, risk management and cost optimization. Ms. Soto is an
economist with a Masters degree in Finance and is a Black Belt Lean
Six Sigma. Ms. Soto has more than 12 years of finance
experience in the mining industry with Peruvian and international
companies. Ms. Soto previously held the positions of Chief
Financial Officer at Alpayana and Head of Finance of Nexa
Resources.
Prior to joining Silver Mountain, Ms. Soto held the position of
Chief Financial Officer of Alpayana, a Peruvian mining
company. Additionally, she held the position of Corporate
Head of Finance at Nexa Resources, a global mining company.
Ms. Soto's expertise in financial planning, budgeting, and capital
allocation will contribute to Silver Mountain's long-term financial
sustainability and growth.
"We are excited to welcome Alejandra as Chief Financial Officer
and I have no doubt that her extensive knowledge of the industry
combined with her strong background in finance and accounting will
be invaluable to Silver Mountain as we continue to develop our
projects," said Alvaro Espinoza,
Chief Executive Officer of the Company.
In connection with her appointment, Ms. Soto was be granted an
aggregate of 225,000 options to acquire class A common shares of
the Company ("Options"). The Options are exercisable at a
price of $0.38 per share for a period of four years.
The addition of Ms. Soto completes the Company's management team
who are expected to drive the Company's success as it advances to
the production stage.
Biographies of the Company's management:
- Alvaro Espinoza, Chief Executive
Office, has over 15 years of experience in senior management
positions in the mining industry in both Latin America and North America, with extensive experience in
building, operating, and expanding mines, strategic planning,
supply chain, financial analysis and control, project evaluation,
project management, and negotiation. He previously served as CEO of
Cautivo Mining Inc. and as Executive Vice-President and Chief
Financial Officer for mining companies in Colombia and Peru.
- Richard Contreras, Chief
Operations Officer, plays an important role in driving the
Company's operational excellence. With more than 35 years of
experience in the mining sector, Mr. Contreras has successfully
overseen large-scale mining operations at Panamerican Silver as
Country Manager and Director of Operations of different mining
units and as General Manager at Glencore in its Quenuales Mining
unit. His expertise in mining engineering, operational planning,
and safety protocols has been pivotal in maintaining the highest
industry standards and maximizing production efficiency.
- Gustavo Anaya, Director of
Operations, is a Geological Engineer with more than 25 years of
experience in the mining sector. Mr. Anaya has effectively overseen
and optimized the Company's operational activities, including
managing production processes and exploration drive efficiency. Mr.
Anaya has previously held positions as Mine Operations Manager,
Explorations Manager and other senior positions at several Peruvian
mining companies, including Buenaventura, Marcobre and
Condestable.
- Ricardo Castillo, Metallurgist
Engineer with PhD degree in Mining and Environment. Mr. Castillo
has more than 30 years of professional experience in the mining
sector and brings a wealth of expertise and hands-on experience in
managing treatment plants. Mr. Castillo previously served as the
Treatment Plant Manager for Volcan, where he successfully led
multiple treatment plant operations and achieved efficiency gains.
In 2014, Mr. Castillo received the National Award "Tumi de
Oro", awarded by the College of
Engineers of Peru. Mr. Castillo
has successfully enhanced operational efficiency, streamlined
processes, and achieved significant productivity improvement.
- Felicia Castro, Superintendent
of Social Management, plays a vital role in guiding Silver Mountain
towards sustainable mining practices. With more than 25 years of
experience, Ms. Castro leads the development of comprehensive
environmental management plans. She has been Director of the
executive council of the Social Fund of Magistral Project and also
led the Community Relations area at Nexa Resources, Shahuindo and
Volcan. Her expertise in environmental impact assessments, land
reclamation, and community engagement will allow the Company to
achieve responsible mining practices that minimize ecological
footprints and foster positive relationships with local
communities.
- Cristian Cadenillas, Legal
Manager, has over 14 years of experience in the mining sector,
bringing a wealth of knowledge and expertise in mining permits,
laws, environmental regulations, contract negotiations, and
corporate governance. Prior to joining Silver Mountain, Mr.
Cadenillas served as the Corporate Legal Manager at Austria Duvaz,
where He successfully navigated intricate legal challenges and
contributed to the company's overall growth and success.
Additionally, he worked in the legal areas at OEFA, a Peruvian
environmental regulatory entity.
"We are proud to have an exceptional team who embody our
commitment to sustainable mining practices and operational
excellence," said Silver Mountain's CEO, Alvaro Espinoza. "Our collective expertise and
dedication will help ensure the success of Silver Mountain's
development."
About Silver
Mountain
Silver Mountain Resources Inc. is a silver explorer and mine
developer planning to restart production at the Reliquias
underground mine and undertake exploration activities at its
prospective silver camps at the Castrovirreyna Project in
Huancavelica, Peru.
For additional information in respect of the Castrovirreyna
Project, please refer to the Company's technical report, titled NI
43-101 Technical Report Mineral Resource Estimate for the Reliquias
Mine, Huancavelica, Peru, dated
March 27, 2023, effective date
March 18, 2023, available at
https://sedar.com.
For further information about the Company's drill program,
including cross sections of the main veins with drill hole
locations, please refer to the Company's corporate presentation,
available on its website at www.agmr.ca. Silver Mountain's
subsidiary Sociedad Minera Reliquias S.A.C. owns 100% of its
concessions and holds more than 60,000 hectares in the district of
Castrovirreyna, Huancavelica, Peru.
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. 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 "Forward-Looking Statements" and
"Risk Factors" in the Company's final prospectus dated
January 26, 2022, and other
disclosure documents available on the Company's profile at
www.sedar.com. 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.
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.
SOURCE Silver Mountain Resources Inc.