Nevada Silver Corporation plans name change to reference its battery and technology-related mineral portfolio


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Toronto, Ontario–(Newsfile Corp. – Nov 23, 2022) – Nevada Silver Corporation (TSXV: NSC) (OTCQB: NVDSF) (“NSK” or the “Company“) is pleased to announce plans for a name change of the company to “Electric Metals (USA) Limited” (“Electrical metals“). The company believes that the name change, which will be subject to all required regulations, will change TSX Venture Exchange (“TSXV“), and shareholder approvals, will better reflect the entirety of its value proposition as a developer of battery and technology-related minerals, including its US manganese and silver properties.

NSC’s CEO Gary Lewis commented, “our existing portfolio of assets includes the Emily Manganese Project in Minnesota, which contains a high-quality manganese deposit. We believe there is rapidly growing domestic demand in the US for metals and materials critical to the operation of electric vehicles, rechargeable batteries and other high-tech industries. As a result, a company name that only refers to the “silver” aspect of our business is no longer appropriate for the company.”

The company’s flagship product is planned to be the Emily Manganese Project, which the company claims contains the highest quality manganese resources in North America, and has been the subject of significant engineering studies, with a historic $24 million investment to date. invested. NSC retains 100% ownership of the Corcoran Silver Project, with an NI 43-101 mineral resource of 33.5 million silver equivalent ounces, and the Belmont Silver Project which was among the earliest and richest silver mining camps in Nevada.

The Emily Manganese Project involves the development of a high-quality manganese deposit, located in the Cuyuna Iron Range of central Minnesota. Brad M. Dunn, CPG, of Barr Engineering Company Limited prepared a National Instrument 43-101 technical report titled “Resource Estimate on the Emily Property, Minnesota USA” for North Star Manganese Inc. (“NSM“), an indirect subsidiary of NSC, with an effective date of June 3, 2022 (the “Technical report“), which will be filed under the company’s profile at www.SEDAR.com. The mineral resource estimates in the technical report are summarized below:

NI 43-101 RESOURCE ESTIMATE CALCULATED BY BARR ENGINEERING COMPANY (JUNE 2022)

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The company had previously publicly disclosed that NSM’s Emily Manganese project was not considered material to its business, that the company’s focus was on the Corcoran and Belmont silver projects in Nevada, and that it was considering options related to was researching with the Emily project. project. See the company’s December 21, 2021, March 24, 2022, and August 31, 2022 press releases for more information on this. On August 31, 2022, the Company announced that NSM has completed the sale of an aggregate of 3,160,233 shares of NSM at a price of US$0.25 per share for gross proceeds of US$790,058.23 (the “NSM financingAs a result of the NSM financing, NSM’s outstanding common stock had increased to 33,160,233 shares, with the company’s indirect shareholding reduced to approximately 90.5%.

The company believes it has already built significant brand equity in the Electric Metals name, having owned the electrmetals.com domain through its wholly owned subsidiary, Electric Metals (USA) Limited, since 2020 and has since filed trademark applications in Canada and the US.

The Company will provide additional information in due course regarding the name change, planned drilling at the Emily Manganese Project and other technical and business activities. The company will seek shareholder approval for the name change at its next annual shareholders’ meeting, which is expected to take place in the first half of 2023. The name change is subject to receipt of all required regulatory, TSXV and shareholder approvals.

Brad M. Dunn, CPG, the author of the technical report and a “qualified person” as defined by National Instrument 43-101, has reviewed and approved the scientific and technical information contained in this press release.

For more information, please address:

Nevada Silver Corporation

Gary Lewis
Group CEO and Director
T: +1 (657) 846 5299
[email protected]

Forward-Looking Information

This press release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable securities laws. Forward-looking information is generally identified by the words “believes”, “may”, “plan”, “will”, “anticipates”, “intends”, “could”, “estimates”, “expects”, “forecasts” . “, “projects” and similar expressions, and the negative of such expressions.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that could cause the Company’s actual results, level of activity, performance or achievements to differ materially from those expressed or implied by such forward-looking information, including, without limitation, risks due to the fact that the Company has a limited operating history and may differ significantly from actual results, risks related to the ability to raise additional equity or debt capital to continue its operations, uncertainty related to the recognition of derived mineral resources in the estimates of mineral resources that are geologically too speculative to be classified as mineral reserves, uncertainty regarding the ability to convert any portion of the mineral resource into mineral reserves, uncertainty regarding estimates resource estimates and the ability to extract those resources economically, or no uncertainty at all regarding exploration programs (including drilling programs) and the ability to expand and upgrade existing resource estimates, risks involved in future regulatory processes and actions, risks of making a production decision (if any) without completing a feasibility study on the company’s property, risks applicable to mine exploration, development and/or operations generally, and risks resulting from that the Company is subject to certain covenants relating to its activities by creditors, as well as other risks.

Forward-looking information is based on management’s reasonable assumptions, estimates, analyzes and opinions made in light of its experience and perception of trends, current conditions and anticipated developments, and other factors that management believes are relevant and reasonable in the future. circumstances at the time of making such statements. While the company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that could cause results not to be as expected. There can be no assurance that such information will prove to be accurate as actual results and future events may differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information.

All forward-looking information contained herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information. herein to reflect future results, events or developments, except as required by law.

Neither the TSX Venture Exchange nor its regulatory service provider (as that term is defined in the TSX Venture Exchange’s policies) assumes responsibility for the adequacy or accuracy of this release.

For the source version of this press release, visit https://www.newsfilecorp.com/release/145439

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