Original source text
Vancouver, British Columbia--(Newsfile Corp. - April 30, 2026) - Silver Sands Resources Corp. (CSE: SAND) (OTC Pink: SSRSF) (the "Company" or "Silver Sands") is pleased to announce that, further to its news release dated March 2, 2026, it has entered into a Definitive Agreement dated April 29, 2026 (the "Agreement") with Fairfields Gold S.A. de C.V. (the "Vendor") to acquire the 1,012.73 hectare Fairfield Gold Project, a gold silver project with underlying porphyry copper potential located in the State of Nayarit, Mexico (the "Concessions"). The Concessions are situated approximately 70 kilometres northeast of Puerto Vallarta and 25 kilometres southwest of Tepic.
Pursuant to the Agreement, the Company may earn a 100 percent interest in the Concessions by making staged cash payments totaling USD$675,000 and issuing an aggregate of 5,150,000 common shares over a four year period.
Keith Anderson, Chief Executive Officer of Silver Sands, commented, "The Fairfield Gold Project represents an excellent opportunity in a strong mining friendly jurisdiction for Silver Sands. Historical exploration by ASARCO reported gold and silver mineralization in the Miravalles Vein, while parallel vein structures have only been minimally explored, highlighting the broader exploration potential of the project."
Key Property Highlights
Initial historical exploration by American Smelting and Refining Company (ASARCO) between 1926 and 1935 included two adits driven on the 1,500 metre Miravalles Vein which reported small shoots of mineralization averaging 31.2 grams per tonne gold and 401 grams per tonne silver.1
Historical drilling completed in 2006 by Servicio Geologico Mexicano, the Mexican Geological Survey, included drill hole DDH 3 which intersected the Miravalles Vein at a shallow angle and returned the following results:2
0.55 metres true thickness grading 12.15 grams per tonne gold and 443 grams per tonne silver at a depth of 178.1 metres
3.4 metres true thickness grading 23.49 grams per tonne gold and 64.13 grams per tonne silver at a depth of 183.1 metres
An interval of undetermined true thickness from 196.15 metres to 201.2 metres averaging 4.71 grams per tonne gold and 16.8 grams per tonne silver
Historical chip sampling on the parallel Estrella Vein returned values of 43.1 grams per tonne gold and 155 grams per tonne silver over 0.10 metres.1
Geology
The Fairfield Gold Project lies on the northern margin of a locally altered Cretaceous hornblende granodiorite pluton with base and precious metal mineralization spatially and genetically related to the pluton. The Miravalles Vein lies in a 300 degree striking fault that dips 65 to 76 degrees northwest, crops out along 1,500 metres of strike and formed at least two shoots of mineralization in excess of two metres in width. Alteration consists of less than one metre thick envelopes of phyllic alteration comprised of quartz, sericite and pyrite that grade outward into propylitic alteration consisting of quartz, chlorite, calcite and pyrite. Mineralization consists of chalcopyrite, sphalerite and galena with percent level arsenic and local sulfosalts.
The data disclosed in this news release relates to historical exploration and drilling. Silver Sands has not undertaken any independent investigation of the sampling, nor has it independently verified the results of the historical exploration work. Silver Sands considers these historical drill results relevant as the Company will use this data as a guide to plan exploration programs; however, the Company cannot confirm their accuracy or reliability. The Company's current and future exploration work includes verification of the historical data through drilling.
Transaction Terms
Under the terms of the Agreement the Company has the right to acquire a 100 percent interest in the Concessions by making aggregate cash payments of USD$675,000 and issuing 5,150,000 common shares over four years to the Vendor as follows:
USD$15,000 upon the execution of the letter of intent, which amount has already been paid in full;
USD$100,000 and 1,000,000 shares upon the execution of the Agreement;
USD$110,000 and 1,000,000 shares on the first anniversary of the Agreement;
USD$125,000 and 1,000,000 shares on the second anniversary of the Agreement;
USD$155,000 and 1,000,000 shares on the third anniversary of the Agreement; and
USD$170,000 and 1,150,000 shares on the fourth anniversary of the Agreement.
Upon completion of all payments and shares issuances, the Concessions will be transferred to a wholly-owned Mexican subsidiary of the Company (the "Mexican Sub").
The Concessions are also subject to a 2.5% net smelter returns royalty (the "NSR") payable to the prior owner from whom the Vendor acquired its interest in the Concessions. Pursuant to the Agreement, the Mexican Sub will have a right to repurchase 1.5% of the NSR from the prior owner for USD$1,000,000. As a condition to closing the transaction, the Mexican Sub and prior owner will enter into an agreement reflecting the NSR and this repurchase right.
In connection with the transaction, the Company has agreed to issue to an arm's length third party 1,050,000 common shares as a finder's fee payable upon execution of the Agreement, subject to approval of the Canadian Securities Exchange. The finder's shares will be subject to applicable statutory hold periods in accordance with securities laws and CSE policies.
The Agreement is subject to the receipt of all necessary regulatory approvals including approval of the Canadian Securities Exchange.
Sources
Report On The Huicicila Miravalles Mine Gold Property Near Compostela, Nayarit, Mexico by J E Hiner and E K Schmidt dated April 5, 2007 for Pan American Gold Corp.
A Competent Person's Report on the Assets of Focus Gold Corp Huicicila Project, Mexico by A Moran and C E Nelson dated August 14, 2011 for Focus Gold Corp.
Qualified Person
R. Tim Henneberry, PGeo BC, a Director of Silver Sands and a Qualified Person under National Instrument 43-101, has reviewed and approved the technical content in this news release.
About Silver Sands Resources Corp.
Silver Sands is a Canada-based company engaged in the business of mineral exploration and the acquisition of mineral property assets in mining-friendly jurisdictions. Its objective is to locate and develop economic precious and base metal properties of merit.
On Behalf of the Board of Directors
Keith Anderson
Chief Executive Officer, President & Director
SILVER SANDS RESOURCES CORP.
Suite 830 - 1100 Melville Street
Vancouver, British Columbia V6E 4A6
https://www.silversandscorp.com
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
Forward-Looking Statements:
This news release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian securities legislation concerning the business of the Company. The forward-looking statements herein are made as of the date of this news release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. These forward-looking statements include, among other things, statements relating to: the Company's planned exploration programs on the Fairfield Gold Project, including the verification of historical exploration data through drilling; the completion of the acquisition of the Concessions on the terms and timeline contemplated by the Agreement; the transfer of the Concessions to a wholly-owned Mexican subsidiary of the Company upon completion of all payments and share issuances; the broader exploration potential of the Fairfield Gold Project; that the Mexican Sub will have the right to repurchase 1.5% of the NSR from the prior owner for USD$1,000,000 and will enter into an agreement with the prior owner to reflect this; the issuance of finder's fee shares subject to regulatory approval; and the receipt of all necessary regulatory approvals, including approval of the Canadian Securities Exchange.
Such forward-looking statements are based on a number of assumptions of the management of the Company, including, without limitation, that the Company will complete the acquisition of the Concessions on the terms and within the timeframes contemplated by the Agreement, that all necessary regulatory approvals (including approval of the Canadian Securities Exchange) will be obtained, that the prior owner of the Concessions will enter into an agreement with the Mexican Sub to reflect the NSR and the repurchase right, that the Company will be able to verify historical exploration data and that such data will prove to be reliable, that the Company will have sufficient funds to complete the staged payments and planned exploration programs, that general market and economic conditions will not materially deteriorate, and that there will be no adverse changes in applicable laws, regulations or policies that impact the acquisition or the Company's planned exploration activities.
Additionally, forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: there can be no assurance that the acquisition of the Concessions will be completed on the terms contemplated by the Agreement or at all; the Company may not obtain all requisite regulatory approvals, including the approval of the Canadian Securities Exchange; historical exploration data may not be verified or may prove to be unreliable; exploration activities may not yield the results anticipated by the Company; that the prior owner may not enter into an agreement with the Mexican Sub to reflect the NSR and the repurchase right and the repurchase right may not be enforceable; the Company may not have sufficient funds to complete the staged payments or planned exploration programs; changes in commodity prices, general economic and market conditions, political instability, changes in legislation or regulatory requirements, and other risk factors disclosed in the Company's public filings.
Such forward-looking information represents the best judgment of the management of the Company based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. Neither the Company nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/295083
Source: Miravalles Gold Corp.
Ready to Announce with Confidence? Send us a message and a member of our TMX Newsfile team will contact you to discuss your needs.
Contact Us
