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TORONTO, July 9, 2026 /CNW/ - Silver Mountain Resources Inc. ("Silver Mountain" or the "Company") (TSX: AGMR) (OTCQB: AGMRF) (BVL: AGMR) is pleased to provide a development update on its 100%-owned, polymetallic underground Reliquias mine in the Huancavelica region of central Peru. Rehabilitation of the concentrator plant at the past-producing, silver-rich mine is 95% complete and the Company expects first production to commence in the third quarter of 2026, on track with previous estimates.
Highlights
Plant commissioning commenced: Industrial testing of all equipment in the plant circuit began early July 2026, using low-grade ore as planned.
Concentrator plant rehabilitation approaches completion: The Reliquias Concentrator Plant rehabilitation is approximately 95% complete and remains aligned with the target restart of operations in the third quarter of 2026. The concentrator rehabilitation project has advanced through confirmatory metallurgical testing, equipment installation, and operational readiness, among other activities.
Primary processing circuits operational: The main processing circuits have been completed and tested. The crushing circuit is now operational, while the grinding and flotation circuits have completed key empty run tests and equipment checks. The remaining work focuses on completing the auxiliary systems and advancing hot commissioning and operational validations.
Production to commence in coming weeks: Reliquias continues to advance towards production startup in the third quarter of 2026, in line with guidance, followed by the operational ramp-up and commercial production.
Other Updates: An updated Mineral Resources estimate and an updated Preliminary Economic Analysis at Reliquias are expected in the fourth quarter of 2026.
Alvaro Espinoza, Chief Executive Officer of Silver Mountain, commented: "We continue to advance the Reliquias mine towards operational readiness, with plant rehabilitation almost complete and commissioning in progress. Our team is very excited by Silver Mountain's continued advancement from a developer to a producing company, and by the further value creation opportunities we see in our district beyond commercial production."
The following is a summary of the status of rehabilitation activities across the major processing circuits at the Reliquias concentrator plant:
Crushing Circuit: The primary and secondary crushing circuit has been fully installed, with key tests conducted on all primary and secondary crushing equipment.