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TORONTO, Aug. 26, 2021 (GLOBE NEWSWIRE) — Denarius Silver Corp. (“Denarius” or “the Firm”) (TSXV: DSLV) introduced immediately that it has filed its unaudited interim condensed consolidated monetary statements and accompanying administration’s dialogue and evaluation (MD&A) for the three and 6 months ended June 30, 2021. These paperwork will be discovered on its web site at www.denariussilver.com and by reviewing its profile on SEDAR at www.sedar.com. All monetary figures contained herein are expressed in U.S. {dollars} until in any other case famous.
Serafino Iacono, Interim Chief Government Officer of Denarius, commented, “Now we have made strong progress since we acquired the Lomero Mission 4 months in the past. Now we have obtained the requisite approvals to begin our drilling program at Lomero in September and the drilling contractor is mobilizing the gear and personnel to website to hold out the preparatory work. The preliminary drill program on the Lomero Mission is designed to validate some chosen historic holes drilled throughout the current mine after which conduct a 50×50 m in-fill drilling within the decrease ranges of the identical mine. The plan will likely be to initially full roughly 81 drill holes for a complete of roughly 23,500 meters of drilling. Drilling can be underway on the Guia Mission and we’re getting up to the mark with IAMGOLD on the outcomes of their ongoing exploration work on the Zancudo Mission to supply an replace within the close to future. We’re totally funded to hold out our deliberate exploration packages and we stay excited by the prospect for worth creation in our tasks, all of that are situated in high-grade districts in Spain and Colombia.”
Second Quarter and First Half 2021 Highlights
- Denarius added its third undertaking (the “Lomero Mission”) on April 29, 2021 with the acquisition of a 100% curiosity within the Investigation Allow Nº 14,977, additionally recognized as Rubia, overlaying the areas occupied by the previous Lomero-Poyatos Concessions and the mine inside them in Southern Spain. The Lomero Mission is a polymetallic deposit situated on the Spanish facet of the prolific copper wealthy Iberian Pyrite belt with a historic estimate within the inferred class of 20.93 Mt of three.08 g/t gold, 62.38 g/t silver, 0.90% copper, 0.85% lead and three.05% zinc that is still open at depth and alongside strike. In August 2021, the Mining Division in Huelva authorized the Firm’s exploration program with an preliminary drill program of roughly 23,500 meters anticipated to begin in September 2021.
- The 2021 in-fill and exploration drilling program on the Guia Antigua Mission commenced in early July with one rig concentrating on extensions of mineralization surrounding the historic Guia Antigua Mine situated close to Segovia, Antioquia, Colombia and can check some conceptual targets outlined by subject mapping and sampling, soil geochemistry and a UAV magnetics survey.
- Denarius is totally funded to hold out its deliberate exploration packages on the Lomero and Guia Antigua Initiatives over the subsequent 18 months. As of June 30, 2021, Denarius had money and money equivalents of $21.2 million.
- The Firm presently has 205.1 million widespread shares issued and excellent. Denarius has a robust shareholder base with roughly 27% owned by Gran Colombia Gold and 19% owned by King Avenue Capital.
- On April 29, 2021, the Subscription Receipts from the Firm’s non-brokered non-public placement financing in March 2021 had been transformed into widespread shares and warrants. The 75,803,700 warrants, which have an train worth of CA$0.80 per share and expire in March 2026, commenced buying and selling on the TSXV underneath the image “DSLV.WT” on July 23, 2021.
- The Firm reported a internet loss for the second quarter of 2021 of $1.4 million, or $0.01 per share, in contrast with internet lack of $Nil within the second quarter of 2020, principally reflecting the share-based compensation expense related to a grant of inventory choices to administrators, government officers, administration and consultants working with the Firm. For the primary half of 2021, the online loss amounted to $15.8 million, or $0.15 per share, in contrast with internet lack of $Nil within the first half of 2020. The biggest merchandise affecting the online loss within the first half of 2021 was the $12.9 million one-time cost associated to the RTO Transaction in February 2021.
About Denarius
Denarius is a Canadian-listed public firm engaged within the acquisition, exploration, growth and eventual operation of mining tasks in high-grade districts, with its principal concentrate on the Lomero Mission in Spain and the Guia Antigua Mission in Colombia. The Firm additionally owns the Zancudo Mission in Colombia which is presently being explored by IAMGOLD Corp. pursuant to an choice settlement for the exploration and potential buy of an curiosity within the undertaking.
Further info on Denarius will be discovered on its web site at www.denariussilver.com and by reviewing its profile on SEDAR at www.sedar.com.
Cautionary Assertion on Ahead-Trying Info
This information launch accommodates “forward-looking info”, which can embrace, however isn’t restricted to, statements with respect to exploration packages, funding and anticipated enterprise plans or methods. Typically, however not at all times, forward-looking statements will be recognized by way of phrases reminiscent of “plans”, “expects”, “is anticipated”, “finances”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (together with destructive variations) of such phrases and phrases, or state that sure actions, occasions or outcomes “could”, “might”, “would”, “may” or “will” be taken, happen or be achieved. Ahead-looking statements contain identified and unknown dangers, uncertainties and different elements which can trigger the precise outcomes, efficiency or achievements of Denarius to be materially completely different from any future outcomes, efficiency or achievements expressed or implied by the forward-looking statements. Components that would trigger precise outcomes to vary materially from these anticipated in these forward-looking statements are described underneath the caption “Threat Components” within the Firm’s Submitting Assertion dated as of February 18, 2021 which is out there for view on SEDAR at www.sedar.com. Ahead-looking statements contained herein are made as of the date of this press launch and Denarius disclaims, apart from as required by legislation, any obligation to replace any forward-looking statements whether or not because of new info, outcomes, future occasions, circumstances, or if administration’s estimates or opinions ought to change, or in any other case. There will be no assurance that forward-looking statements will show to be correct, as precise outcomes and future occasions might differ materially from these anticipated in such statements. Accordingly, the reader is cautioned to not place undue reliance on forward-looking statements.
For Additional Info, Contact:
Mike Davies
Chief Monetary Officer
(416) 360-4653
buyers@denariussilver.com
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