(TheNewswire)
• Rebranding to Silver NorthResources Ltd.
• Haldane and Tim Silver Properties are lead projects
• 1 for 5 share consolidation to tighten share structure
Vancouver, BC – TheNewswire - August 10, 2023 - Alianza MineralsLtd. (“Alianza”) (TSXV:ANZ) (OTC:TARSF) announces that effectiveAugust 14, 2023, the Company is changing its corporate identity andrebranding as “Silver North Resources Ltd.” and will start tradingon the TSX Venture Exchange under the symbol “SNAG”
“Rebranding as Silver North Resources Ltd. is a strategic move tofocus on silver and align with evolving needs of the global economy,particularly the accelerating demand for silver and its pivotal rolein sustainable technologies,” explained Jason Weber, President andCEO. “The name Silver North Resources encapsulates our focus on twohigh grade silver projects in Haldane and Tim, both located in knownsilver-producing camps, helping Silver North be better recognized andvalued as a leading junior silver explorer.”
The road-accessible Haldane is a high grade si lver project in the Keno Hill Silver District,approximately 22 km from Hecla Mining’s Keno Hill silver mine.Recent exploration at Haldane led to the discovery of a new high gradesilver target at the West Fault, where intersections including 8.72maveraging 311 g/t Ag, 0.89% Pb and 1.13% Zn; 3.14m averaging 1351 g/tAg, 2.43% Pb and 2.91% Zn, and 4.27m averaging 363 g/t Ag, 1.73% Pband 2.80% Zn have defined a silver-bearing vein system 3-8 metres wideover a 100 by 90 metre area with eight holes to date. In all, over 12km of cumulative vein strike potential exists, with only 28 surfacedrillholes to date testing portions of this potential. This includesone hole at the Bighorn target which has identified a new target area3 km from previously known mineralization.
The Tim silver project lies 19 km north of Coeur Mining’s Silvertipsilver-lead-zinc mine, in the same rocks that host mineralization atthe Silvertip Mine. Prior exploration at Tim has identifiedsilver-bearing oxide mineralization 4 to 30 metres wide in trenches onsurface over 1,700 metres of strike length. Trench sampling resultsinclude 365 g/t silver and 7.5% lead over a 3.7 metre chip sample ofoxidized material. Tim is road accessible, located off the access roadto the Silvertip Mine. The Tim property is optioned to Coeur Mining,who can earn an 80% interest by funding $3.55 million in explorationexpenditures, by making cumulative cash payments of $575,000 andcompleting a feasibility study by the 8th anniversary. A five yearmining land use permit to conduct trenching and drilling is in placefor the Tim project.
The Company also holds copper and gold projects in Nevada and Coloradothat will be divested or optioned out, allowing management to focusits efforts on its silver portfolio.
The Company also announces that pursuant to directors'resolutions dated July 25, 2023, and following the receipt of allnecessary approvals, effective August 14, 2023, the Company will beconsolidating its common shares on the basis of one (1) newpost-consolidation common share for every five (5) pre-consolidationcommon shares (the "Consolidation").
Effective at the opening of the market on August 14,2023, the common shares of the Company will commence trading on apost-Consolidation basis under the new ticker symbol "SNAG"(CUSIP: 828061101; ISIN: CA8280611010). There are currently158,950,655 common shares outstanding, and following the completion ofthe Consolidation, the Company will have approximately 31,877,994shares outstanding.
No fractional shares will be issued in connection withthe Consolidation. Each fractional share following the Consolidationthat is less than one-half of a share will be cancelled and eachfractional share that is at least one-half of a share will be roundedup to the nearest whole share. No cash consideration will be paid inrespect of fractional shares.
All options and warrants outstanding will reflect thechange in accordance with the Consolidation. Registered holders ofcommon shares will receive a letter of transmittal from Computershare Trust Company of Canada with instructions on how to exchange existing share certificates fornew post-Consolidation share certificates.
Alianza is rebranding to focus on its silver portfolio of projects.Previously, the Company employed a discovery-focused business model ofjoint venture funding and self-funded projects to maximize opportunityfor exploration success. The Company’s primary assets going forwardwill remain its 100% owned Haldane silver project and the Tim silverproject (under option to Coeur Mining, Inc.), Alianza also holds goldand base metal projects in Yukon Territory, Colorado and Nevada,including one optioned to Volt Lithium (formerly Allied Copper) withinan alliance with Cloudbreak Discovery PLC. The Company is activelyseeking partners on its other projects. Alianza also holds certainroyalties on projects in North and South America.
Alianza is listed on the TSX Venture Exchange under the symbol“ANZ” and trades on the OTCQB market in the US under the symbol“TARSF”.
Mr. Jason Weber, P.Geo., President and CEO of Alianza Minerals Ltd. isa Qualified Person as defined by National Instrument 43-101. Mr. Webersupervised the preparation of the technical information contained inthis release.
For further information,contact:
Jason Weber, President and CEO
Sandrine Lam, Shareholder Communications
Tel: (604) 807-7217
Fax: (888) 889-4874
To learn more visit: www.alianzaminerals.com
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NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATIONSERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXVENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACYOF THIS RELEASE. STATEMENTS IN THIS NEWS RELEASE, OTHER THAN PURELYHISTORICAL INFORMATION, INCLUDING STATEMENTS RELATING TO THE COMPANY'SFUTURE PLANS AND OBJECTIVES OR EXPECTED RESULTS, MAY INCLUDEFORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS ARE BASED ONNUMEROUS ASSUMPTIONS AND ARE SUBJECT TO ALL OF THE RISKS ANDUNCERTAINTIES INHERENT IN RESOURCE EXPLORATION AND DEVELOPMENT. AS ARESULT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN THEFORWARD-LOOKING STATEMENTS.
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