Silver Predator Corp. Announces Closing of Sale of the Taylor Silver Property
NEWS RELEASE TSXV: SPD January 30, 2023 NR 23-01 www.silverpredator.com
Silver Predator Corp. Announces Closing of Sale of the Taylor Silver Property
Vancouver, British Columbia, January 30, 2023: Silver Predator Corp. (TSXV: SPD) (“Silver Predator”) is pleased to announce the closing of the sale of a series of certain mining claims located in White Pine County in the State of Nevada, U.S., commonly referred to as the Taylor Silver Property (the “Property”), to White Pine Precious Metals Inc. (“WPPM”), a privately held company with headquarters in Reno, Nevada USA and Toronto, Ontario, Canada. The signing of a Definitive Purchase Agreement for this transaction was previously announced in a joint news release by the two companies on November 23, 2022.
Per the terms of the Purchase Agreement, Silver Predator received $25,000 USD upon the signing of the Agreement in November and has now received an initial payment of $850,000 USD, with an additional $875,000 USD payment due 18 months following the Closing Date, on July 27, 2024. In addition, Silver Predator has received 5% of the issued and outstanding common shares of WPPM on a basic, non-diluted basis until WPPM reaches an equity capitalization of $5 million USD, with certain standard exceptions or until the occurrence of a qualifying liquidity event for WPPM.
“We are delighted to close this sale and to become an equity partner with White Pine Precious Metals,” said Dr. John T. (“Terry”) Rickard, CEO of Silver Predator. “The initial proceeds of the sale will enable us to begin exploration activities on our flagship Copper King property in Shoshone County, Idaho, this summer, pending US Forest Service permitting, while also enabling us to participate in the future prospects of White Pine Precious Metals.”
“Proceeds from the Taylor transaction will primarily be used to advance the mapping and initial drilling of our Copper King property in northern Idaho,” said Nathan Tewalt, Chairman of the Board of Directors of Silver Predator. “This work is planned for mid to late summer and will provide an initial test of potential Revett hosted bedded and vein style silver-copper mineralization on our land position located just 3 to 5 kilometers north of Hecla Mining Company’s Lucky Friday underground silver-lead-zinc mine.”
Silver Predator Corp.
Silver Predator is a mining exploration company, with properties in the western US. In addition to the Taylor Silver Project, the Company holds the Copper King project, located in the eastern portion of the famous Coeur d’ Alene Silver District near Mullan, Idaho, U.S, and the Cordero and Cornucopia properties in Nevada, U.S.
For additional information:
Nathan A. Tewalt or John T. Rickard Chairman Chief Executive Officer
208-635-5415 208-635-5415 [email protected] [email protected] [email protected] [email protected]
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No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.