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While we remain focused on our core operations in Peru, our plan is to execute an exploration program over the next 12-18 months to confirm and strengthen the data and our understanding of the potential resource in advance of making a decision on how to best advance the project." "We believe that the project will benefit from our distinct approach to exploration aimed at generating value by reactivating past producing districts with good potential.
"The Revenue-Virginius Mine complements Silver X's growth strategy by adding an advanced-stage exploration project to our pipeline at an attractive price," stated José García, President and CEO of Silver X. Capitalizes on proven expertise and synergies with Silver X's team in Peru, where management has experience applying a modern lens to exploration and mechanizing narrow vein structures.The Acquisition provides Silver X with an opportunity to advance the project through the pre-production stages with minimum capital deployment. Low-cost acquisition with infrastructure in place and significant investment by previous owners.Acquisition of a silver project in the United States, which was previously built to a pre-production stage and was permitted for production prior to entering into receivership.The Acquisition remains subject to several closing conditions, including, without limitation, the approval of the District Court, Ouray County, State of Colorado (the "District Court").
(TSXV:AGX) (OTCQB:AGXPF) (F:AGX) ("Silver X" or the "Company") announces that it has entered into an asset purchase agreement (the "Agreement") to acquire the Revenue-Virginius Mine ("RV Mine") and certain related assets (collectively with the RV Mine, the "Assets") located in the San Juan Mountains near Ouray, Colorado from Alliance Management LLC (the "Receiver"), as receiver under a court supervised receivership in Ouray County, Colorado (the "Acquisition"). VANCOUVER, BC / ACCESSWIRE / Ap/ Silver X Mining Corp.
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