Argentum Exercises Option to Acquire 100% Ownership of Coyote and Victoria Silver Properties in Mexico
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 08/21/12 -- Argentum Silver Corp. (TSX VENTURE: ASL) ("Argentum or the "Company") is pleased to announce that it has elected to trigger the early exercise provisions of its option agreement (the "Option") with Soltoro Ltd. (TSX VENTURE: SOL) dated April 25, 2011 and has acquired a 100% undivided interest in the Coyote and Victoria Silver Properties located in the State of Jalisco, Mexico. Under the terms of the Option, no additional shares or cash were required to be paid by Argentum. Argentum recently announced final results from its first-phase, 25-hole orientation drill program completed at Coyote.
Warren McIntyre, President of Argentum, stated, "We are pleased with our accomplishments to date. One hundred percent ownership of the Jalisco properties was key to us moving forward and ensuring our shareholders we are moving in the right direction. Currently, we are trenching multiple veins on the Coyote property in preparation for a fall drill program. Soltoro currently holds roughly 15% of our outstanding shares, and we are pleased to have them as a partner moving forward."
About the Coyote Property
The 1053-hectare Coyote property contains dozens of individual low sulfidation epithermal silver-gold veins and stockworks. Most of the mineralization occurs within six defined zones within an area of approximately 1.5 x 2.6 kilometres. Vein widths typically range from 1 to over 5 metres. Local areas of stockworks can exceed 35 metres wide. Over 100 historic workings and prospects explored and partially developed the district through the early 1900's. Historic production concentrated on "bonanza" silver grades with operational depth limitations to the high water table.
About Argentum Silver
Argentum owns a 100% interest in the Coyote silver-gold project and the Victoria property, each located in Jalisco, Mexico, which were acquired from Soltoro Ltd. Argentum also owns a 100% interest in the Lachiguiri and Silacayoapan properties, all located in Oaxaca, Mexico, formally 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
Forward Looking Statements
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