SOHFF - Telson Announces Issuance of Options
(TheNewswire)
Vancouver, British Columbia – TheNewswire - February 26, 2021 - Telson MiningCorporation (“ Telson ” orthe “ Company ”)(TSXV:TSN ) , ( OTC:SOHFF ) , ( Frankfurt–TSGN) announces that pursuant to itsStock Option Plan, it has granted stock options to certain directors,officers, and insiders of up to an aggregate 4,700,000 shares in thecapital stock of the Company. The options are exercisable on orbefore February 25, 2026 at a price of $0.30 per share, and theCompany has also re-priced 1,873,333 stock options originally grantedas to; 1,423,333 exercisable at $0.71 till November 10, 2022, 400,000exercisable at $0.72 till April 16, 2023 and 50,000 exercisable at$0.71 till April 23, 2023. These stock options have been repriced to$0.30 per share and expiry dates remain unchanged. The grant andrepricing of the above options are subject to the acceptance of theTSX Venture Exchange and in the case of repricing options held byinsiders subject to disinterested shareholder approval.
About Telson Mining Corporation
Telson Mining Corporation is a Canadian based mining company with two100% owned Mexican gold, silver, and base metal mining projects.
Telson's Tahuehueto mining project, located in north-western DurangoState, Mexico where construction has been advanced to an estimated 60%of completion. With final funding in place Telson expects to finishconstruction of a 1,000 tonne per day processing facility and relatedassets to produce gold, silver, lead and zinc in concentrates withinits own on-site mineral processing facility. The Company is targetingcompletion of construction late 2021, within 10 to 12 months.
Campo Morado is a polymetallic base metal mine with mining and millingequipment currently producing at an average ofapproximately 2,150 tonnes per day. Four monthsafter purchasing Campo Morado, Telson brought the mine backinto operation initiating preproduction in October 2017 anddeclared commercial production in May 2018, operating themine continuously for 22 months until August 2019 when the projectwas put on care and maintenance. Telson brought the mine out ofcare and maintenance and reinitiated mining andmilling operations during January 2020.
Visit: www.telsonmining.com
On behalf of the board ofdirectors
(signed) “Ralph Shearing”
Ralph Shearing, P.Geol, President andDirector
Cautionary Note Regarding ProductionDecisions and Forward-Looking Statements
It should be noted that Telsondeclared commercial production at Campo Morado prior to completing afeasibility study of mineral reserves demonstrating economic andtechnical viability. Accordingly, readers should be cautioned thatTelson’s production decision has been made without a comprehensivefeasibility study of established reserves such that there is greaterrisk and uncertainty as to future economic results from the CampoMorado mine and a higher technical risk of failure than would be thecase if a feasibility study were completed and relied upon to make aproduction decision. Telson has completed a preliminary economicassessment (“PEA”) miningstudy on the Campo Morado mine that provides a conceptual life of mineplan and a preliminary economic analysis based on the previouslyidentified mineral resources (see News Release dated November 8, 2017and April 4,2018).
Statements contained in this newsrelease that are not historical facts are “forward-lookinginformation” or “forward-looking statements” (collectively,“Forward-Looking Information”) within the meaning of applicableCanadian securities laws. Forward Looking Information includes, but isnot limited to, disclosure regarding the planned recommencement ofmining operations at Campo Morado; and other possible events,conditions or financial performance that are based on assumptionsabout future economic conditions and courses of action; the timing andcosts of future activities on the Company’s properties, such asproduction rates and increases; success of exploration, developmentand bulk sample processing activities, and timing for processing atits own mineral processing facility on the Tahuehueto project site. Incertain cases, Forward-Looking Information can be identified usingwords and phrases such as “plans”, “expects”, “scheduled”,“estimates”, “forecasts”, “intends”, “anticipates” orvariations of such words and phrases. In preparing the Forward-LookingInformation in this news release, the Company has applied severalmaterial assumptions, including, but not limited to, that the currentexploration, development, environmental and other objectivesconcerning the Campo Morado Mine and the Tahuehueto Project can beachieved; that recommencement of operations at Campo Morado willproceed as planned; the continuity of the price of gold and othermetals, economic and political conditions, and operations.Forward-Looking Information involves known and unknown risks,uncertainties and other factors which may cause the actual results,performance, or achievements of the Company to be materially differentfrom any future results, performance or achievements expressed orimplied by the Forward-Looking Information. There can be no assurancethat Forward-Looking Information will prove to be accurate, as actualresults and future events could differ materially from thoseanticipated in such statements. Accordingly, readers should not placeundue reliance on Forward-Looking Information. Except as required bylaw, the Company does not assume any obligation to release publiclyany revisions to Forward-Looking Information contained in this newsrelease to reflect events or circumstances after the date hereof or toreflect the occurrence of unanticipated events.
Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release
For further informationabout Telson Mining Corporation, please contact:
Glen Sandwell, Corporate Communications Manager
ir@telsonmining.com
Tel: +1 (604) 684-8071
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