OUTCROP SILVER ANNOUNCES FUNDING PARTNER FOR KRAMER HILLS
VANCOUVER, BC, June 12, 2025 /CNW/ - Outcrop Silver & Gold Corporation (TSXV: OCG) (OTCQX: OCGSF) (DE: MRG) ("Outcrop Silver") is pleased to announce that Silver Mines Limited ("Silver Mines") (ASX: SVL) has optioned Outcrop Silver's Kramer Hills brownfield oxide gold property in San Bernardino, California, USA. Silver Mines may earn up to an 80% stake in Kramer Hills by paying approximately US$6,000,000 (approximately C$8.2 million) in a combination of cash and Silver Mines common shares ("Shares") and free carrying Outcrop Silver through completion of a feasibility study.
Kramer Hills consists of 569 BLM claims covering approximately 48 km 2 surrounding a patented claim covering the historic Shaherald oxide gold mine. The project lies along a mapped fault zone approximately 7 kilometres long, with historic shafts, adits and an open pit extending for over 4 kilometers.
"Optioning Kramer Hills to Silver Mines continues our strategy of unlocking value from non-core assets while we focus capital on expanding the high-grade Santa Ana silver project," comments Ian Harris, CEO of Outcrop Silver. "Silver Mines has the capital and the expertise to progress Kramer Hills and we are looking forward to partnering with them."
Transaction
On June 11, 2025, Silver Mines purchased an option on Kramer Hills for US$500,000 payable in cash and subject to the approval of the ASX, 23,500,000 Shares (A$0.13 share on June 10, 2025). The Shares are subject to a voluntary escrow of 12 months. Silver Mines has the option to earn-in to 50% of Kramer Hills by funding US$3,500,000 in exploration within 2 years, issuing an additional US$1,500,000 in Shares and funding the underlying option payments on the patented ground.
Silver Mines has the option to earn-in to an additional 30% (80% total) by issuing an additional US$2,000,000 in Shares and free carrying Outcrop Silver through completion of a feasibility study. Upon completion of a feasibility study Outcrop Silver has the option to form a joint venture with Silver Mines or convert it's remaining 20% stake into a 2% net smelter return royalty.
The Kramer Hills project was acquired through the amalgamation with Zacapa Resources Ltd. (" Zacapa"). Zacapa's portfolio also included the Pearl porphyr copper project (" Pearl") in Arizona which is optioned to Golden Mile Resources Limited (" Golden Mile") and the 100% owned South Bullfrog gold project in Beatty, Nevada adjacent to Anglo Gold's Silicon and Merlin discoveries. Pearl is currently being drill tested by Golden Mile (see news releases dated May 8, 2025 and June 6, 2025).
About Outcrop Silver
Outcrop Silver is a leading explorer and developer focused on advancing its flagship Santa Ana high-grade silver project in Colombia. Leveraging a disciplined and seasoned team of professionals with decades of experience in the region. Outcrop Silver is dedicated to expanding current mineral resources through strategic exploration initiatives.
At the core of our operations is a commitment to responsible mining practices and community engagement, underscoring our approach to sustainable development. Our expertise in navigating complex geological and market conditions enables us to consistently identify and capitalize on opportunities to enhance shareholder value. With a deep understanding of the Colombian mining landscape and a track record of successful exploration, Outcrop Silver is poised to transform the Santa Ana project into a significant silver producer, contributing positively to the local economy and setting new standards in the mining industry.
About Silver Mines
Silver Mines owns the Bowdens Silver Project located in central New South Wales, approximately 26 kilometres east of Mudgee. The consolidated project area comprises 2,115 km 2 of titles covering approximately 80 kilometres of strike of the highly mineralised Rylstone Volcanics. Multiple target styles and mineral occurrences have potential throughout the district including analogues to Bowdens Silver, high-grade silver-lead-zinc epithermal and volcanogenic massive sulphide (VMS) systems and copper-gold targets.
Bowdens Silver is the largest undeveloped silver deposit in Australia with substantial resources and a considerable body of high-quality technical work completed. The project boasts outstanding logistics for mine development.
ON BEHALF OF THE BOARD OF DIRECTORS
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "potential," "we believe," or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Outcrop Silver to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including: the earn-in of the total 80% interest in Kramer Hills by Silver Mines; the receipt of all necessary regulatory approvals, capital expenditures and other costs, financing and additional capital requirements, completion of due diligence, general economic, market and business conditions, new legislation, uncertainties resulting from potential delays or changes in plans, political uncertainties, and the state of the securities markets generally. Although management of Outcrop Silver have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Outcrop Silver will not update any forward-looking statements or forward-looking information that are incorporated by reference.
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