TORONTO, ON / ACCESSWIRE / March 22, 2017 / Canadian Silver Hunter Inc. (TSXV: AGH.H) ("CSH" or the "Company") ("Canadian Silver") After several communications with shareholders, Canadian Silver Hunter Inc. would like to clarify some of the recent announcements and events involving Canadian Silver, Cobalt Projects International ("Cobalt Projects"), and First Cobalt Corp ("First Cobalt").
Canadian Silver Hunter is the 100% owner of the Keeley and Frontier mines.
As announced on January 30, 2017, Canadian Silver granted an "option" (the "Option") to Cobalt Projects to earn up to 100% in the Keeley and Frontier mines. Cobalt Projects is a privately held Ontario-based mineral exploration company.
On March 16, 2017, First Cobalt announced that it would "acquire" the Keeley Frontier Mines pursuant to a definitive agreement to acquire all of the outstanding share capital of Cobalt Projects, subject to the approval of the TSX Venture.
Through the purchase of all of the outstanding shares of Cobalt Projects, First Cobalt owns Cobalt Projects and First Cobalt is indirectly entitled to the option to earn up to a 100-per-cent interest in Keeley-Frontier on the terms as announced on January 30, 2017:
Canadian Silver Hunter will remain as the 100% owner of the South Lorrain Project until First Cobalt has satisfied the first part of the option, and earned a minimum of 50%.
About Canadian Silver Hunter Inc.
CSH is a Canadian exploration company focused on the exploration of silver-cobalt deposits on its flagship South Lorrain Project (formerly the Keeley Frontier Project). The South Lorrain Project is located within the historic South Lorrain Silver Camp, which along with the historic Cobalt and Gowganda silver camps is part of a world class cobalt-silver district in the Abitibi Greenstone Belt between Temagami and Kirkland Lake, in northeastern Ontario.
For further information please contact:
Canadian Silver Hunter Inc.
Jeffrey Hunter
President and CEO
(416) 707 4230
[email protected]
www.canadiansilverhunter.ca
CAUTIONARY STATEMENT: 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. This release includes certain "forward-looking statements". These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements include, or may be based upon, estimates, forecasts and statements as to management's expectations with respect to, among other things, the timing of the Company's exploration, development and business plans, strategic acquisitions, the focus of the Company in the future, progress in and success of development of the Company's mineral properties, and the Company's performance, business prospects and opportunities. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, outcomes of acquisitions or other corporate transactions, exploration or development on the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this release. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully, and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statements that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.
SOURCE: Canadian Silver Hunter Inc.