VANCOUVER, BC, May 8, 2025 /CNW/ - Silver Viper Minerals Corp. ("Silver Viper" or the "Company") (TSXV: VIPR) (OTC: VIPRF) has entered into an agreement with CSAC Holdings Inc. ("CSAC") and all of the shareholders of CSAC (collectively, the "Vendors") dated May 8, 2025 (the "Purchase Agreement") to acquire the Cimarron Project in Sinaloa, Mexico, a property hosting a porphyry gold-copper system (the "Transaction").
"This acquisition supports our strategy to build scale through the addition of high-quality gold, silver and copper assets in Mexico," said Steve Cope, President and CEO of Silver Viper. "Cimarron has benefited from extensive historical drilling and is ready for the next stage of infill and step-out work."
Transaction Summary
Pursuant to the terms of the Purchase Agreement, Silver Viper has agreed to acquire all of the outstanding common shares of CSAC from the Vendors in exchange for 9,000,000 common shares of Silver Viper. Closing remains subject to satisfaction of a number of conditions, including but not limited to, the receipt of the requisite TSX Venture Exchange approval of the Transaction and completion of satisfactory due diligence by Silver Viper of CSAC and the Cimarron Project, as well as other conditions customary for a transaction of this nature. Closing is expected to occur as promptly as possible following satisfaction of the closing conditions set out in the Purchase Agreement.
Highlights of the Cimarron Project
The Cimarron Project is located on the prolific porphyry belt from Arizona to Jalisco and is situated in the well-established mining jurisdiction of Mexico. The Cimarron Project lies between Mazatlán and Rosario in Sinaloa and is accessible via an 11-kilometre dirt road from a nearby paved road. The area is relatively flat, with low topographic contrast, supporting ease of access. An electrical line passes one kilometre south of the property. The nearby towns of Rosario—a historic mining community—and Mazatlán provide access to skilled local labour.
Having considered some of the historical exploration undertaken on the Cimarron Project, Silver Viper believes that the Cimarron Project has potential for growth by focusing on three parts of the mineralized system, being Calerita, Lobo and Huanacaxtle. Most target areas of the Cimarron Project remain underexplored, and Silver Viper believes that trenching may offer an efficient, low-cost approach to generate additional drill targets, particularly in areas of soil anomalies. Further updates will be provided on activities to be undertaken at the Cimarron Project by Silver Viper following closing of the Transaction.
Qualified Person
The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in NI 43-101 and reviewed and approved by Ben Whiting, P.Geo., a Qualified Persons as defined in NI 43-101.
About the Company
Silver Viper Minerals Corp. is a Canadian-based junior mineral exploration company focused on precious metals exploration in Mexico. The Company is the operator and 100% owner of the La Virginia Gold-Silver Project in Sonora. The Company continues to evaluate and advance mineral exploration opportunities across key mining jurisdictions in Mexico and in May 2025 entered into a definitive agreement to acquire the Cimarron Project in Sinaloa, Mexico.
ON BEHALF OF THE BOARD OF DIRECTORS,
Steve Cope
President and CEO
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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements:
This news release includes forward-looking statements that are subject to inherent risks and uncertainties. All statements within this news release, other than statements of historical fact, are to be considered forward looking and include, without limitation, any statements respecting the Transaction, including closing thereof, receipt of TSX Venture Exchange approval of the Transaction and future plans for the Cimarron Project. Although Silver Viper believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those described in forward-looking statements. Factors that could cause actual results to differ materially from those described in forward-looking statements include fluctuations in market prices, including metal prices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties.
SOURCE Silver Viper Minerals Corp.
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