Vancouver, British Columbia--(Newsfile Corp. - July 15, 2025) - SILICON METALS CORP. (CSE: SI) (FSE: X6U) ("Silicon Metals" or the "Company") is pleased to announce that it has signed two (2) Definitive Agreements dated July 14th, 2025, with two (2) separate arm's length vendors located in the Sudbury District of Ontario to acquire a 100% ownership and interest in an Aggregate Permit AP6453 (the "Permit") and surrounding mining claims (the "Claims") covering known quartz-rich pegmatite mineralization. The Company also announces the intention to complete a private placement of units for gross proceeds of up to $800,000 (the "Offering").
Highlights
- The active Aggregate Permit allows for the extraction of high purity quartz material my means of quarrying.
- Mineralization in the Permit area hosts quartz-rich pegmatite bodies, also containing feldspar and mica.
- The Permit location is easily accessible with minor rehabilitation work needed to begin commercial extraction.
- The Permit area encompasses 6.77 hectares and initial 3,000 tonne per year extraction, the Company is investigating options for expansion.
- Additional mining claims secured covering the Permit and surrounding area, totalling 111.35 hectares, include potential to define multiple quartz-rich pegmatite bodies.
Morgan Good Chief Executive Officer of Silicon Metals Corp., commented, "We are more than excited to further add diversified assets to our growing portfolio, particularly in Ontario as they increase Silicon's ability to develop its business model and provide a potential pathway to a non-dilutive way of adding capital to the Company. We are optimistic today's news sets the stage for an aggressive advancement in the Company's 2025 and 2026 plans, overall increasing shareholder value."
Definitive Option Agreement with Geotek Exploration and Prospecting Ltd. to Acquire 100% Ownership of Aggregate Permit 6453, terms;
- Silicon must pay the Optionor $25,000 in cash within fifteen (15) business days from the Effective date of the Agreement
- Silicon must pay the Optionor $25,000 in cash and issue 500,000 common shares within five (5) business days upon the date in which CSE approval is given;
- On or before twelve (12) months following the CSE approval date, issue the Optionor 1,500,000 common shares;
- On or before eighteen (18) months following the CSE approval date, issue the Optionor 1,500,000 common shares
Definitive Purchase Agreement with third party arm's length vendor for 100% Ownership of five (5) mining claims encompassing AP6453
- Silicon must issue 100,000 common shares to the seller with fifteen (15) business days upon the date in which CSE approval is given
Ptarmigan Project Update
The Company has received the LiDAR data from the previously announced work programs planned for Ptarmigan. Internal analysis and modelling utilizing the LiDAR data and ortho imagery has commenced.
The Offering
Pursuant to the Offering, the Company intends to issue up 16,000,000 non-flow-through units at a price per unit of $0.05. The units will consist of one common share of the Company and one half of a common non-flow-through share purchase warrant, with each whole non-flow-through warrant entitling the holder thereof to purchase a non-flow-through common share at an exercise price of $0.05 for a period of 24 months. The terms of the non-flow-through warrants will also include an accelerator provision whereby, if the price of the common shares on the CSE closes at $0.15 or higher for a period of ten (10) consecutive trading days, the Company may accelerate the expiry date of the warrants to thirty (30) days from the acceleration trigger.
The Company intends to use the aggregate proceeds of the Offering for advancement and development of the Permit and surrounding Claims, as well as for general working capital purposes. Finders' fees may be payable in connection with the Offering in accordance with the policies of the CSE.
All securities issued in connection with the Offering will be subject to a statutory hold period expiring four months and one day after the date of issuance, as set out in National Instrument 45-102 - Resale of Securities.
None of the securities sold in connection with the Offering will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
With the announcement of the Offering, the Company also provides an update that no further tranches will occur under the previously announced private placement, as detailed in the Company's news releases dated March 17, 2025, and April 17, 2025.
Technical Information
Raymond Wladichuk, P.Geo., COO of Silicon Metals Corp., a qualified person as per National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific information in his new release. Mr. Wladichuk is a professional geoscientist registered in British Columbia and Ontario.
About Silicon Metals Corp.
Silicon Metals Corp. is currently focused on exploration in western Canada, namely British Columbia. The Company holds an undivided 100% right, title and interest in the Ptarmigan Silica Project located approximately 130km from Prince George, British Columbia. The Company has also acquired an option to purchase an undivided 100% right, title, and interest in both the Silica Ridge Silica Project located approximately 70kms southeast from the town of MacKenzie, British Columbia, as well as the Longworth Silica Project located approximately 85km East from Prince George, British Columbia. Silicon has also signed a Definitive Option Agreement to earn a 100% interest in the Sudbury District of Ontario based Aggregate Permit 6453 and signed a Definitive Purchase Agreement to acquire five (5) mining claims encompassing the permit itself.
ON BEHALF OF THE BOARD OF DIRECTORS OF
SILICON METALS CORP.
"Morgan Good"
Morgan Good
Chief Executive Officer and Director
For more information regarding this news release and any other details regarding the Company's future plans, please contact:
Morgan Good, CEO and Director
T: 604-715-4751
E: morgan@siliconmetalscorp.com
W: www.siliconmetalscorp.com
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE accepts responsibility for the adequacy or accuracy of this release).
Cautionary Note Regarding Forward-Looking Statements
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward-looking statements", are not historical facts, are made as of the date of this news release and include without limitation, development and plans for the Claims and the Permit, the issuance of the Shares to the Optionors and regulatory approvals thereof, the Company's proposed Offering, statements regarding the Company's plans and intended use of proceeds.
Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive.
In making the forward-looking statements in this news release, the Company has applied certain material assumptions, including without limitation, that the Company will be able to execute its plans for the development of the Claims and the Permit, that the Company will receive regulatory approval for the issuance of Shares to the Optionors, that the Company will be able to complete the Offering, and that the Company will have all the necessary resources, including personnel and capital to carry out its business plans.
These forward-looking statements involve numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, that the Company may not be able to develop the Claims and the Permits as anticipated, that the Company may not receive regulatory approval for the issuance of the Shares to the Optionors, that the Company will fail to complete the Offering, on the terms proposed, or at all; that the Company will not use the proceeds from the Offering as disclosed; that the Company will be unable to carry out its business plans as disclosed; changes in applicable legislation impacting the Company's exploration plans; unanticipated costs; loss of key personnel; failure to raise the capital required to carry out the Company's business plans.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
NOT FOR DISSEMINATION IN THE UNITED STATES OR TO U.S. PERSONS
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/258821
SOURCE: Silicon Metals Corp.
