Subject: TRADE ISSUES
Silver Hammer Receives Permit to Drill the Past-Producing Silverton Silver Mine Project in Nevada
VANCOUVER, British Columbia, March 24, 2022 (GLOBE NEWSWIRE) -- Silver Hammer Mining Corp. (CSE: HAMR/OTCQB:HAMRF) ("Silver Hammer" or the "Company") is pleased to report that it has received permits to drill its past-producing Silverton Silver Mine (or "Silverton") located 129 kilometres ("km") northeast of the Tonopah silver district in Nevada. The drilling is part of an exploration program targeting extensions of the high-grade veins mined until the 1920s. This historic mine has seen only minimal modern exploration.
The United States Department of the Interior's Bureau of Land Management ("BLM") has granted a drilling and surface disturbance exploration permit. The two-year permit, effective March 17, 2022, allows the Company up to 13 drill sites, 8,530 feet of drilling, 3,248 feet of constructed road and 200 feet of overland travel covering 2.35 acres of surface disturbance. The Company plans to test areas around the existing mine as well as recently staked areas after refining targets.
Morgan Lekstrom, President & Chief Executive Officer of Silver Hammer stated: "Our primary focus remains our flagship Silver Strand Project in Idaho; however, the first phases of field work at Silverton were very encouraging and securing a two-year permit now puts us in position to accelerate towards drilling once we've refined and finalized our targets."
Mr. Lekstrom added: "Earlier this year, our technical team staked additional 19 claims expanding the Silverton land package to 620 total acres. Obtaining an initial permit is just another milestone step towards testing the exploration upside that we believe remains here."
About Silverton Project
Silverton is located in East Nevada's "Silver Alley" with historical production grades as high as 933 grams per tonne ("g/t") silver. There has been limited to no modern-day drilling or subsurface exploration completed in the area since the 1920s and Silver Hammer controls a property package surrounding historic high-grade mine sites with recent rock chip samples returning up to 692 g/t silver (see November 29, 2021 news release) and 6.1 g/t gold (see October 7, 2021 news release). For more information on Silverton please visit the Company's website HERE.
Qualified Person
Technical aspects of this press release have been reviewed and approved by Philip Mulholland, P.Geo., the designated Qualified Person (QP) under National Instrument 43-101.
About Silver Hammer Mining Corp.
Silver Hammer Mining Corp. is a junior resource company advancing the flagship past-producing Silver Strand Mine in the Coeur d'Alene Mining District in Idaho, USA, as well both the Eliza Silver Project and the Silverton Silver Mine in one of the world's most prolific mining jurisdictions in Nevada and the Lacy Gold Project in British Columbia, Canada. Silver Hammer's primary focus is defining and developing silver deposits near past-producing mines that have not been adequately tested. The Company's portfolio also provides exposure to copper and gold discoveries.
Disclaimer note: Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company's projects.
On Behalf of the Board of Silver Hammer Mining Corp.
Morgan Lekstrom, President and CEO
Corporate Office: 551 Howe Street, Vancouver, British Columbia V6C 2C2, Canada
For investor relations inquiries, contact:
Kristina Pillon, High Tide Consulting Corp.
T: 604.908.1695
For media inquiries, contact:
Adam Bello, Primoris Group Inc.
T: 416.489.0092
The CSE does not accept responsibility for the adequacy or accuracy of this release.
The Canadian Securities Exchange has neither approved nor disapproved the contents of this press release.
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