Argentum Announces 100% Warrant Exercise for Gross Proceeds of $1,785,340
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 04/04/12 -- Argentum Silver Corp. ("Argentum" or the "Company") (TSX VENTURE: ASL) is pleased to announce that all 11,902,270 warrants issued on February 15, 2011 at an exercise price of $0.15 were exercised prior to the March 31, 2012 extended deadline (see our news release dated January 23, 2012) for total gross proceeds of $1,785,340.50. In addition, a further 626,773 broker's warrants were exercised prior to the February 15, 2012 expiry for additional gross proceeds of $94,016.
The additional funds will be used to carry out a second phase of drilling on our Coyote project in the late summer, and to perform further geophysics work on the Company's other properties with a view to determining further exploration plans.
Option Cancellation
The Company also announces the cancellation of 50,000 of the stock options issued on March 1, 2012. The options were exercisable at a price of $0.31 per share on or before March 1, 2017.
About Argentum Silver
Argentum has an option to earn a 100% interest from Soltoro Ltd. in the Coyote silver-gold project and the Victoria property, each located in Jalisco, Mexico. Argentum also holds the right to acquire a 100% interest in the Lachiguiri and Silacayoapan properties, all located in Oaxaca, Mexico, under an option agreement with Arco Resources Corp. For further information, please go to www.argentumsilvercorp.com.
On behalf of the Board of Directors of Argentum Silver Corp.
Warren McIntyre, President and Chief Executive Officer
This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Argentum relies upon litigation protection for forward-looking statements.
Neither 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.
Contacts:
Argentum Silver Corp.
Ian Tootill
Director of Investor Relations
604.661.2110
604.909.1818 (FAX)
ian@argentumsilvercorp.com
www.argentumsilvercorp.com