Silicon Metals Corp. Announces Termination of Property Option Agreement
Silicon Metals Corp (OTC: SLCNF) has announced the termination of its property option agreement with Eastfield Resources Ltd. The agreement, originally dated December 21, 2020, granted Silicon Metals the right to earn a 60% interest in the Hedge Hog property in British Columbia's Cariboo Mining Division. The property is located approximately 15 kilometres north of Wells. CEO Morgan Good stated this strategic decision allows the company to focus its resources on other core projects with potential for near-term value creation.
Silicon Metals Corp (OTC: SLCNF) ha annunciato la risoluzione del suo accordo di opzione sulla proprietà con Eastfield Resources Ltd. L'accordo, originariamente datato 21 dicembre 2020, concedeva a Silicon Metals il diritto di acquisire una quota del 60% nella proprietà Hedge Hog nella divisione mineraria di Cariboo, British Columbia. La proprietà si trova a circa 15 chilometri a nord di Wells. Il CEO Morgan Good ha dichiarato che questa decisione strategica permette all'azienda di concentrare le risorse su altri progetti principali con potenziale di creazione di valore a breve termine.
Silicon Metals Corp (OTC: SLCNF) ha anunciado la terminación de su acuerdo de opción sobre la propiedad con Eastfield Resources Ltd. El acuerdo, fechado originalmente el 21 de diciembre de 2020, otorgaba a Silicon Metals el derecho a obtener un 60% de participación en la propiedad Hedge Hog, ubicada en la división minera Cariboo de Columbia Británica. La propiedad está situada aproximadamente a 15 kilómetros al norte de Wells. El CEO Morgan Good declaró que esta decisión estratégica permite a la empresa enfocar sus recursos en otros proyectos principales con potencial para crear valor a corto plazo.
Silicon Metals Corp (OTC: SLCNF)는 Eastfield Resources Ltd.와의 부동산 옵션 계약 종료를 발표했습니다. 이 계약은 2020년 12월 21일에 체결되었으며, Silicon Metals에게 브리티시컬럼비아 카리부 광업 구역의 Hedge Hog 부동산에서 60% 지분을 취득할 권리를 부여했습니다. 이 부동산은 Wells에서 북쪽으로 약 15킬로미터 떨어진 곳에 위치해 있습니다. CEO Morgan Good는 이번 전략적 결정이 회사가 단기 가치 창출 가능성이 있는 다른 핵심 프로젝트에 자원을 집중할 수 있게 한다고 밝혔습니다.
Silicon Metals Corp (OTC : SLCNF) a annoncé la résiliation de son accord d'option sur la propriété avec Eastfield Resources Ltd. Cet accord, initialement daté du 21 décembre 2020, accordait à Silicon Metals le droit d'acquérir une participation de 60% dans la propriété Hedge Hog située dans la division minière de Cariboo en Colombie-Britannique. La propriété se trouve à environ 15 kilomètres au nord de Wells. Le PDG Morgan Good a déclaré que cette décision stratégique permet à l'entreprise de concentrer ses ressources sur d'autres projets principaux présentant un potentiel de création de valeur à court terme.
Silicon Metals Corp (OTC: SLCNF) hat die Beendigung seines Optionsvertrags für die Immobilie mit Eastfield Resources Ltd. bekanntgegeben. Der Vertrag, ursprünglich datiert auf den 21. Dezember 2020, gewährte Silicon Metals das Recht, einen 60%igen Anteil an der Hedge Hog-Liegenschaft in der Cariboo Mining Division von British Columbia zu erwerben. Die Liegenschaft befindet sich etwa 15 Kilometer nördlich von Wells. CEO Morgan Good erklärte, dass diese strategische Entscheidung dem Unternehmen ermöglicht, seine Ressourcen auf andere Kernprojekte mit Potenzial für kurzfristige Wertschöpfung zu konzentrieren.
- Strategic realignment to focus resources on core projects with near-term value potential
- Improved capital allocation by eliminating costs associated with the Hedge Hog property option
- Loss of potential 60% interest in the Hedge Hog property
- Reduction in company's property portfolio and exploration opportunities
Vancouver, British Columbia--(Newsfile Corp. - May 9, 2025) - SILICON METALS CORP. (CSE: SI) (FSE: X6U) (OTC Pink: SLCNF) ("Silicon Metals" or the "Company") announces that it has terminated the property option agreement with Eastfield Resources Ltd. dated December 21, 2020, as amended (the "Option Agreement"). The Option Agreement granted the Company the right to earn a
"As we continue to refine our strategic priorities, the decision to step back from the Hedge Hog project allows us to concentrate our efforts and capital on our other core projects with strong potential for near-term value creation," said Morgan Good, CEO of Silicon Metals. "We remain committed to advancing our portfolio and identifying high-impact opportunities aligned with our exploration and development objectives."
The Company extends its appreciation to Eastfield Resources Ltd. for its collaboration during the term of the Option Agreement.
About Silicon Metals Corp.
Silicon Metals Corp. is currently focused on exploration in western Canada, namely British Columbia. The Company holds an undivided
ON BEHALF OF THE BOARD OF DIRECTORS OF
SILICON METALS CORP.
"Morgan Good"
Morgan Good
Chief Executive Officer and Director
For more information regarding this news release, please contact:
Morgan Good, CEO and Director
T: 604-715-4751
E: morgan@siliconmetalscorp.com OR ir@siliconmetalscorp.com
W: www.siliconmetalscorp.com
Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release).
Cautionary Note Regarding Forward-Looking Statements
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements that the Company's existing projects have strong potential for near-term valuation creation; and that the Company remains committed to advancing its portfolio and identifying high-impact opportunities aligned with its exploration and development objectives.
In making the forward-looking statements in this news release, the Company has applied certain material assumptions, including without limitation, that management's expectations regarding the Company's existing projects will prove to be accurate; and the Company will carry out its business plans as disclosed and will advance its portfolio as disclosed.
These forward‐looking statements involve numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, that management's expectations regarding the Company's existing projects will prove to be inaccurate and the exploration thereof will not result in near-term value creation; that the Company's business plans will change and the Company will fail to remain committed to advancing its portfolio and identifying high-impact opportunities aligned with its exploration and development objectives; and unanticipated costs. Although management of the Company has 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. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/251489
FAQ
Why did Silicon Metals Corp (SLCNF) terminate the Hedge Hog property option agreement?
What percentage interest could Silicon Metals (SLCNF) have earned in the Hedge Hog property?
Where is the Hedge Hog property that Silicon Metals (SLCNF) terminated its option for?
When was the original Hedge Hog property option agreement signed by Silicon Metals (SLCNF)?
