Vancouver, British Columbia--(Newsfile Corp. - July 23, 2025) - Magma Silver Corp. (TSXV: MGMA) (OTCQB: MAGMF) (FSE: BC21) (WKN: A411DV) (the "Company" or "Magma") is pleased to announce that all required payments under the community access agreement respecting the Jorimina and Randypata projects have been made, maintaining Magma's access rights for exploration on these two mineralized zones. Newmont Mining Corp. ("Newmont") previously carried out CAD$10 million worth of exploration on the Jorimina and Randypata zones, identifying several extensive surface gold and silver anomalies on both areas.
Historic channel sample results from the Jorimina Zone are summarized in Newmont's internal report "Informe Técnico y Geológic Proyecto Niñobamba 2008 a Abril 2009". Newmont noted that 2813 channel samples were collected throughout the Jorimina and Randypata zones. Gold highlights from the channel samples show: 17.4 m of 3.06 g/t Au, 60.0 m of 0.40 g/t Au, and 200 m of 0.26 g/t Au. The best silver results from the Jorimina zone are 128 m of 1.31 oz/t Ag, 96 m of 0.62 oz/t Ag and 60 m of 0.82 oz/t Ag.
Newmont completed 4,377 m of drilling at Jorimina, and 3,504 m of drilling at Randypata in 2010 and 2011. Results and discussion are provided in Newmont's internal report dated January 2010 "Informe Técnico y Geológic Proyecto Niñobamba Mayo - Diciembre 2009". Highlights from Newmont's historical drilling include a long-mineralized intersection in JOR-001 Hole returning 150m of 0.69 g/t Au including an interval of 72.3m of 1.19 g/t Au and 97.6m of 0.42 g/t Au including an interval of 24.6m of 1.07 g/t Au. Note that these results are historical and have not been verified by the Company's geologists.
The community access agreement with Comunidad Campesina De Tunsulla is in good standing through the end of the 2025 exploration season and into 2026. This allows Magma to commence exploration activities on Jorimina and Randypata immediately. The Company expects to finalize this summer's exploration plan on Jorimina and Randypata shortly.
Stephen Barley, Magma Chairman & CEO, stated: "A community access agreement is the foundation for all exploration in Peru and the importance of obtaining and maintaining these agreements and continuously striving to ensure a harmonious and mutually beneficial relationship with the local community members cannot be overstated. This is their land, and we are being allowed the privilege of exploring and developing the property. We will endeavor to treat the land and local communities with the utmost care and respect at all times."
Qualified Person
Jeffrey Reeder, P.Geo, a qualified person as defined in National Instrument 43-101 and a Senior Technical Advisor of the Company, has prepared, supervised the preparation or approved of the scientific and technical disclosure contained in this news release.
About Magma Silver Corp.
Magma Silver Corp. is a natural resources company with a focus on acquiring, exploring, developing, and operating precious metal mining exploration projects. The Company's primary focus is on exploring and developing the advanced Niñobamba silver-gold project in the mining-friendly country of Peru.
For further information, please contact Magma Silver Corp.:
Jason Baker, Chief Financial Officer
Phone: +1-604-252-2672
Email: info@magmasilver.com
Website: www.magmasilver.com
X: @MagmaSilverCorp
Reader Advisory
This news release may contain forward-looking information within the meaning of applicable securities laws. All information and statements other than statements of current or historical facts contained in this news release are forward-looking information. Forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in Magma Silver Corp.'s periodic filings with Canadian securities regulators. When used in this news release, words such as "will", "could", "plan", "estimate", "expect", "intend", "may", "potential", "should," and similar expressions, are forward-looking statements. The information provided in this document is necessarily summarized and may not contain all available material information. Forward-looking statements include those concerning: (i) the Company's exploration plans at the Jorimina and Randypata zones and the timing of when such plans will be finalized; and (ii) the Niñobamba property remaining in good standing. Although the Company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can't make any assurances that its expectations will be achieved. Such assumptions may prove incorrect. Although the Company has attempted to identify important factors that could cause actual results, performance, or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance, or achievements not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances, or results will materialize. As a result of these risks and uncertainties, no assurance can be given that any events anticipated by the forward-looking information in this news release will transpire or occur, or, if any of them do so, what benefits that the Company will derive therefrom. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this news release, and the Company disclaims any intention or obligation to update or revise such information, except as required by applicable law.
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.
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SOURCE: Magma Silver Corp.
