Argentum Makes Final Option Payment
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 04/30/12 -- Argentum Silver Corp. ("Argentum" or the "Company") (TSX VENTURE: ASL) is pleased to announce that it has made the final payment under its option agreement with Soltoro Ltd. (TSX VENTURE: SOL) dated April 25, 2011. The payment, consisting of 3,500,000 common shares and CDN $120,000 in cash, was made to Soltoro towards the acquisition of the Coyote and Victoria silver gold properties in Jalisco State, Mexico. Soltoro now holds a total of 6,300,000 shares of Argentum Silver (approximately 15% of the outstanding shares of Argentum Silver).
The Company recently announced completion of the first phase, 25 diamond drill hole program on its' Coyote property. A total of 2,686 metres were drilled on the four identified vein zones: 11 holes on the El Tajo zone, seven holes on the La Florida zone, four holes on the Bocancha zone and three holes on the La Colorada zone. The original drill program called for 19 holes to be drilled; however, the high grades intercepted in hole 2012-3, which included 2.0 metres of 2,745 grams per tonne silver, and in hole 2012-7, which included 1.2 metres of 1,645 grams per tonne silver, encouraged the company to increase the number of holes drilled to 25.
The Company released the results from the first 7 drill holes on February 29 and March 6, 2012. Assay results on the remaining 18 holes will be released once they have been received and interpreted by the Company.
About Argentum Silver
Argentum has an option to earn a 100% interest from Soltoro Ltd. in the Coyote silver-gold project and the Victoria property, each located in Jalisco, Mexico. Argentum also holds the right to acquire a 100% interest in the Lachiguiri and Silacayoapan properties, all located in Oaxaca, Mexico, under an option agreement with Arco Resources Corp. For further information, please go to www.argentumsilvercorp.com.
On behalf of the Board of Directors of Argentum Silver Corp.
Warren McIntyre, President and Chief Executive Officer
This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Argentum relies upon litigation protection for forward-looking statements.
Neither 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.
Contacts:
Argentum Silver Corp.
Ian Tootill
Director of Investor Relations
604.661.2110
ian@argentumsilvercorp.com
www.argentumsilvercorp.com