Agave Silver Corp. Enters into Agreement with Hastings Highland Resources Limited for Option on Nickel-Copper Property
VANCOUVER, BC / ACCESSWIRE / May 12, 2015 / Agave Silver Corp. (TSX-V: AGV) ("Agave" or the "Company") is pleased to announce that in late April, 2015 it had reached an agreement with Hastings Highland Resources Limited ("Hastings") subject to Hastings board approval. The Hastings board and shareholders unanimously approved this transaction at a Special Meeting held on Saturday, May 9, 2015. The exclusive option is to earn a 90% interest in Hastings' Limerick Township nickel-copper property located in Ontario, Canada (the "Property").
After a tumultuous past few years, Agave looks forward to a very positive 2015 season with the addition of this option on a Canadian nickel-copper property to add to our growing portfolio of Canadian hard rock properties and the sale of our Mexican subsidiary, which cleared approximately $686K in debt.
Agave has engaged an investment banking firm focused on junior mining to raise up to $1.5 million for further development of the Property and to bring historical data into a fully-compliant NI 43-101. Completion of the ongoing 30 million share financing will also provide capital for project development of our wholly owned silver-lead-zinc property at Kaslo's Keen Creek in British Columbia.
The Kaslo silver-lead-zinc property has a permit application ready to go with an ecological and archaeological assessment completed by Kinbasket Development Corp. as consultants. The Company expects to prospect/sample the old former producers throughout the property starting with the reopening of the Cork Province Mine tunnels for access to old workings to establish a baseline for extension of previous known resources.
Agave is a Canadian mineral exploration company. To learn more about Agave Silver please click here http://www.agavesilver.com
On behalf of the board of Agave Silver Corp.
Ronald M. Lang
President & CEO
For Investor Relations please call: Rob Paul at 604-817-6010 or Ron Lang at 604-558-3908.
Tel: (604) 687-4622 Fax: (604) 687-4212 Toll Free: 1-888-267-1400
Email: info@agavesilver.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is generally identifiable by use of the words "believes," "may," "plans," "will," "anticipates," "intends," "could", "estimates", "expects", "forecasts", "projects" and similar expressions, and the negative of such expressions. Forward-looking information in this news release include statements about an exclusive option to earn 90% interest in Hastings' Limerick Township nickel-copper property; raising up to $1.5 million for further development of the Hastings' Limerick Township nickel-copper property; bringing historical data into a fully-compliant NI 43-101; project development of the Company's wholly owned silver-lead-zinc property at Kaslo's Keen Creek in British Columbia; and the expectation to prospect/sample the old former producers throughout the Kaslo silver-lead-zinc property starting with the reopening of the Cork Province Mine tunnels for access to old workings. In connection with the forward-looking information contained in this news release, the Company has made numerous assumptions, regarding, among other things, the geological, metallurgical, engineering, financial and economic advice that the Company has received is reliable and is based upon practices and methodologies which are consistent with industry standards; stability in economic and market conditions; and the timely availability of permits and other governmental approvals. While the Company considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies. In addition, there are known and unknown risk factors which could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Known risk factors include, among others: the Company may not execute a definitive agreement with Hastings for the Limerick Township nickel-copper property; the TSX Venture Exchange may not approve the entering into of the definitive agreement for the Limerick Township nickel-copper property; the Company may not raise the expected amount of financing, or at all; the Limerick Township nickel-copper property may not contain any commercially viable mineralization of benefit to the Company; a 43-101 compliant resource report may not be completed for the Limerick Township nickel-copper property; the Company may not be able to prospect/sample the old former producers throughout the Kaslo silver-lead-zinc property; conditions in the financial markets may deteriorate; and uncertainty as to timely availability of permits and other governmental approvals.
A more complete discussion of the risks and uncertainties facing the Company is disclosed in the Company's continuous disclosure filings with Canadian securities regulatory authorities at www.sedar.com. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking.
SOURCE: Agave Silver Corp.