(5)The Mineral Resource is not inclusive of the Mineral Reserves.
(6) Silver Equivalent stated using a ratio of 60:1 and ounces calculated using the following conversion rate: 1 troy ounce = 31.1035 grams. Metallurgical recoveries are not accounted for in the silver equivalent calculation.
The mineral resources and mineral reserve estimates are reported in accordance with Canadian Securities Administrators National Instrument 43-101 and were estimated in compliance with generally accepted Canadian Institute of Mining, Metallurgy and Petroleum "Estimation of Mineral Resource and Mineral Reserves Best Practices" guidelines. Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the mineral resource will be converted into mineral reserves.
Stuart Ross, President and CEO commented:
"We've now defined a starting point for the resource at El Tigre with our first mineral resource estimate. We are extremely pleased with 9.875 million tonnes grading an average of 0.630 g/t Au and 39.7 g/t Ag totaling 24.713 million ounces of AgEq classified as indicated mineral resources with an additional 7.042 million tonnes grading an average of 0.589 g/t Au and 36.1 g/t Ag totaling 16.075 million ounces of AgEq classified as inferred mineral resources. The El Tigre property has an extensive mining history; with this initial resource estimate and our continued exploration capabilities, El Tigre is positioned to continue that legacy into the foreseeable future. What is even more exciting is that we have yet to define the limits of the main mineralized zone having only focused on 1.2 kilometres of a 5.3 kilometre zone. The report shows us that we will have internally generated funds to move the project forward. By reducing future stock dilution we will deliver increased shareholder value as we expand the in-situ resource with future drilling."
This Mineral Resource estimate of the El Tigre vein system and the Mineral Reserve estimate of the historic El Tigre tailings was completed by Zachary J. Black, SME-RM an associate Resource Geologist with Hard Rock Consulting, LLC, who has reviewed pertinent geological information in sufficient detail to support the data incorporated in the resource estimates. Mr. Black is an Independent Qualified Person as defined under NI 43-101 and is responsible for the Mineral Resource and Mineral Reserve Estimate presented in this release. Mr. Black has reviewed the content of this news release, and consents to the information provided in the form and context in which it appears. The technical content of this news release has been approved by Steven D. Craig, CPG and Vice President of Exploration for El Tigre, a Qualified Person as defined in NI 43-101.
A copy of the full Technical Report will be available on the Company's website and filed on SEDAR within 45 days of this press release.
About El Tigre Silver Corp.:
The Company, through its subsidiaries, holds the rights to 100% of nine mineral concessions, eight comprising of 431 square kilometres located in north-eastern Sonora, Mexico (the "El Tigre Property"). El Tigre also holds one additional 32 hectare claim separate from the El Tigre Property. A technical report has been prepared for the El Tigre Property and can be found on the Company's profile on SEDAR at www.sedar.com and on the Company's website at www.eltigresilvercorp.com.
This news release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but not limited to, the mineral resource estimates, timing of filing of a technical report, development of production facilities at the El Tigre Property tailings project, assay results, mineral prices and preliminary feasibility analysis. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include those risks set out in the Company's public documents filed on SEDAR at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release. Neither the 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 press release.
El Tigre Silver Corp.
President and CEO
El Tigre Silver Corp.
El Tigre Silver Corp.
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