TORONTO, June 30,
2023 /CNW/ - Silver Mountain Resources Inc. (TSXV:
AGMR) (OTCQB: AGMRF) (BVL: AGMR) ("Silver Mountain",
"AGMR" or the "Company") is pleased to announce the
results of its annual general and special meeting of shareholders
held on June 27, 2023 (the
"Meeting").
At the Meeting, each of the director nominees listed in the
Company's management information circular dated May 29, 2023 (the "Circular") were elected
as directors of the Company, including Julio Jose Arce Ortiz, Alfredo Plenge Thorne, Jose Vizquerra, Juan
Carlos Ortiz and Timothy
Loftsgard. The shareholders of the Company also approved the
re-appointment of BDO Canada LLP as the auditors of the Company for
the ensuing year and authorized the board of directors to fix their
remuneration and terms of engagement.
At the Meeting, the shareholders of the Company also approved
the Company's omnibus equity incentive plan (the "Equity
Incentive Plan"), in accordance with the TSX Venture Exchange
rules and policies. The Equity Incentive Plan provides for a
"rolling 10% plan" in respect of stock options and a "fixed 10%
plan" in respect of other awards, permitting the issuance of up to
21,746,986 class A common shares in satisfaction of such other
awards. A copy of the Equity Incentive Plan is attached as a
schedule to the Circular, which is available on the Company's SEDAR
profile at www.sedar.com.
Victoria Vargas and Blair Zaritsky did not stand for re-election at
the Meeting. "On behalf of the board of directors, I would like to
thank Victoria and Blair for their service as directors and their
valuable contributions to the Company," said Jose Vizquerra, Chair of the Company's board of
directors.
About Silver
Mountain
Silver Mountain Resources Inc. is a silver explorer and mine
developer planning to restart production at the Reliquias
underground mine and undertake exploration activities at its
prospective silver camps at the Castrovirreyna Project in
Huancavelica, Peru.
For additional information in respect of the Castrovirreyna
Project, please refer to the Company's technical report, titled NI
43-101 Technical Report Mineral Resource Estimate for the Reliquias
Mine, Huancavelica, Peru, dated
March 27, 2023, effective date
March 18, 2023, available at
https://sedar.com.
For further information about the Company's drill program,
including cross sections of the main veins with drill hole
locations, please refer to the Company's corporate presentation,
available on its website at www.agmr.ca. Silver Mountain's
subsidiary Sociedad Minera Reliquias S.A.C. owns 100% of its
concessions and holds more than 60,000 hectares in the district of
Castrovirreyna, Huancavelica, Peru.
www.agmr.ca
Forward Looking
Statements
This news release contains forward-looking statements and
forward-looking information within the meaning of Canadian
securities legislation (collectively, "forward-looking
statements") that relate to Silver Mountain's current
expectations and views of future events. Any statements that
express, or involve discussions as to, expectations, beliefs,
plans, objectives, assumptions or future events or performance
(often, but not always, through the use of words or phrases such as
"will likely result", "are expected to", "expects", "will
continue", "is anticipated", "anticipates", "believes",
"estimated", "intends", "plans", "forecast", "projection",
"strategy", "objective" and "outlook") are not historical facts and
may be forward-looking statements and may involve estimates,
assumptions and uncertainties which could cause actual results or
outcomes to differ materially from those expressed in such
forward-looking statements. No assurance can be given that these
expectations will prove to be correct and such forward-looking
statements included in this news release should not be unduly
relied upon. These statements speak only as of the date of this
news release.
Forward-looking statements are based on a number of assumptions
and are subject to a number of risks and uncertainties, many of
which are beyond Silver Mountain's control, which could cause
actual results and events to differ materially from those that are
disclosed in or implied by such forward-looking statements. Such
risks and uncertainties include, but are not limited to, the
factors set forth under "Forward-Looking Statements" and
"Risk Factors" in the Company's final prospectus dated
January 26, 2022, and other
disclosure documents available on the Company's profile at
www.sedar.com. Silver Mountain undertakes no obligation to update
or revise any forward-looking statements, whether as a result of
new information, future events or otherwise, except as may be
required by law. New factors emerge from time to time, and it is
not possible for Silver Mountain to predict all of them or assess
the impact of each such factor or the extent to which any factor,
or combination of factors, may cause results to differ materially
from those contained in any forward-looking statement. Any
forward-looking statements contained in this news release are
expressly qualified in their entirety by this cautionary
statement.
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.
SOURCE Silver Mountain Resources Inc.