Silver Valley Metals Provides Corporate Update

(Silver Valley Metals, 18.Sep.2023) — Silver Valley Metals Corp. (TSXV: SILV) (OTCQB: SVMFF), a brownfield exploration company with two potential high impact projects that comprise silver-zinc-lead located in north Idaho, USA and lithium – potassium (sulphate of potash) located in Zacatecas and San Luis Potosi, Mexico respectively, is pleased to provide a corporate update for both of its high priority projects: the MexiCan Lithium-Potassium (sulphate of potash) Project (“the Mexico-Canada Project” or “MexiCan Project”) and the Ranger-Page silver-zinc-lead Project in the Silver Valley (“the Ranger-Page Project”).

MexiCan Project:

As previously announced 10 May 2023, Silver Valley entered discussions with LitioMX, (the national lithium company of Mexico), with the goal of these discussions to ultimately formalize a partnership agreement to explore and produce lithium in Mexico. Silver Valley maintains its 100% ownership of the Potassium Sulphate (“sulphate of potash” or “SOP”) component of the dual commodity MexiCan Lithium-Potassium Project. 

Discussions are active and advancing with LitioMX, and near-term plans are in place to come together to potentially finalize a partnership agreement. The company will update shareholders’ when and if there is material news to report.

Highlights of the Project include:

1. Significant grades of lithium, potassium sulphate, and boron are located on surface in unconsolidated sediments; the unique character of the project may contribute positively to future sustainable, and cost-effective extraction methods due to its unique sediment makeup.
2. The brine potential has not been tested to date; the company has reported highly elevated levels of potassium in water in perforated PVC columns emplaced in the salars where recharge of the water is measured and the mineral content of the water is measured – potassium in water readings averaged 13,000 mg/L with measurements up to 27,000 mg/L – these results are indicative that the potassium in the sediments is liberating itself which may be an indicator of potassium in the brine at depth or minimally, the separation of potassium from the sediments.
3. Deep basin large aquifer brine potential defined by regional geophysics surveys, remains to be tested.
4. The inferred resource has been tested from surface to an average 5 metres depth; the Company anticipates the sediment basin could range from 40 metres to greater than 100 metres deep, so the prospect of expanding the sediment resource at depth is substantial.
5. 12.3 million tonnes of Potassium Sulphate and 243,000 tonnes of Lithium Carbonate Equivalent (“LCE”) ⁽¹⁾ defined thus far; contemplating today’s spot prices, the in-situ value in the first five metres of the deposit(s) is already significant.
6. On the ground community support – the team in Mexico has continued exemplary work from inception through to the present day, notwithstanding the times the project has been delayed for circumstances out of the company’s control. The importance of the community supporting our project cannot be overstated.
7. Excellent infrastructure in place, including abundance of skilled labour, an international airport, modern highways, railways, and sufficient power.

Ranger-Page Project:

Exploration at the Ranger-Page project has been active throughout the summer with a 24-hour per day project-wide trenching program targeting numerous prospective areas at the project which were defined from its inaugural 2022 exploration program. More than 3 kilometres were trenched, including new road building for drilling access and drill platform preparations. The trenching program was recently concluded for the year. 

Field mapping, geochemical assaying, further groundwork, and geological modelling are continuing to define and refine drill targets. Further news will be released as the company receives and compiles the data. The Company anticipates several high priority drill-ready targets to be prioritized in the coming month. 

Recently, Silver Valley released first results from the summer trenching program at the Crown Point Mine area of the project which was a discovery of two significant vein structures on surface extending the Crown Point mine along strike to the west.

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