Orko Silver Provides Clarification of Joint Venture Agreement
April 16 2009 - 8:30AM
Marketwired
Orko Silver Corp. ("Orko") (TSX VENTURE: OK) wishes to clarify the
confusion surrounding the terms of the Joint Venture agreement
announced in a joint press release with Pan American Silver Corp.
dated April 14, 2009.
Pan American Silver Corp. and Orko Silver Corp. have reached an
agreement for the joint development of Orko Silver's La Preciosa
silver project.
Under the terms of the Joint Venture agreement:
Pan American Silver will contribute 100% of the necessary funds
to develop La Preciosa to production to acquire 55% interest in the
project. Orko Silver retains a 45% interest carried to
production.
In addition, Pan American Silver is undertaking a private
placement of 4,000,000 common shares of Orko at a purchase price of
CDN $1.25 per share, with certain anti-dilution and pre-emptive
rights to participate in future financings of Orko.
About Orko Silver
Orko Silver Corp. is developing one of the world's largest
primary silver deposits, La Preciosa, located near the city of
Durango, Mexico.
ON BEHALF OF THE BOARD OF DIRECTORS
Gary Cope, President
This News Release may contain forward-looking statements
including but not limited to comments regarding the timing and
content of upcoming work programs, geological interpretations,
receipt of property titles, potential mineral recovery processes,
etc. Forward-looking statements address future events and
conditions and therefore involve inherent risks and uncertainties.
Actual results may differ materially from those currently
anticipated in such statements. Orko relies upon litigation
protection for forward-looking statements.
Cautionary Note to U.S. Investors - The United States Securities
and Exchange Commission permits U.S. Mining companies, in their
filings with the SEC, to disclose only those mineral deposits that
a company can economically and legally extract or produce. We use
certain terms in this press release, such as "measured",
"indicated", and "inferred" resources, which the SEC guidelines
strictly prohibit U.S. registered companies from including in their
filings with the SEC. U.S. Investors are urged to consider closely
the disclosure in our Form 20-F, File No. 000-51923, which may be
secured from us, or from the SEC's website at
http://www.sec.gov/edgar.shtml.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for this News Release.
Contacts: Orko Silver Corp. Gary Cope President (604) 684-4691
(604) 684-4601 (FAX) info@orkosilver.com www.orkosilver.com
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