Vancouver, British Columbia--(Newsfile Corp. - August 12, 2025) - SILICON METALS CORP. (CSE: SI) (FSE: X6U) ("Silicon Metals" or the "Company") announces that, further to its news release dated July 15, 2025, and August 8, 2025, it has made the final cash payment of $25,000 to Geotek Exploration and Prospecting Ltd. (the "Optionor"), pursuant to the Company's recently announced option (the "Option") to purchase an undivided 100% right, title and interest in Aggregate Permit AP6453 (the "Permit") located in the world class Sudbury Mining District of Ontario, Canada.
The balance of the payments to be made under the Option are as follows:
- 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
All securities issued in connection with the Option 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.
About Silicon Metals Corp.
Silicon Metals Corp. is currently focused on exploration and development in Canada, namely British Columbia and Ontario. The Company's Maple Birch Project, located approximately 30km south-east of Sudbury, Ontario, is a high purity quartz pegmatite project with a 3,000 tonne per year production permit. The Company also holds an undivided 100% right, title, and interest in the exploration stage and now fully 5-year permitted Ptarmigan Silica Project, located approximately 130km from Prince George, British Columbia. The Company has also acquired an undivided 100% right, title, and interest in both the exploration stage Silica Ridge Silica Project located approximately 70kms southeast from the town of MacKenzie, British Columbia, as well as the exploration stage Longworth Silica Project located approximately 85km East from Prince George, British Columbia.
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 Permit, the timing and issuance of the common shares to the Optionor and regulatory approvals thereof.
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 Permit, that the Company's plans with respect to the Permit will not change, that the Company will receive regulatory approval for the issuance of the common shares to the Optionor within the agreed upon timeline, 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 Permit as anticipated, that the Company may not receive regulatory approval for the issuance of the common shares to the Optionor within the agreed upon timeline or at all, that the Company will be unable to carry out its business plans as disclosed, that there may be changes in applicable legislation impacting the Company's exploration plans, that there may be unanticipated costs, that there may be loss of key personnel, and that there may be 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/262129
SOURCE: Silicon Metals Corp.
