Business
SILVER VIPER MINERALS COMPLETES ACQUISITION OF THE CONETO SILVER-GOLD PROJECT
Silver Viper Minerals Corp. (TSXV: VIPR) (OTCQX: VIPRF) ("Silver Viper" or the "Company") has closed its previously announced acquisition of the Coneto Silver-Gold Project ("Coneto" or the "Coneto Project") located in Durango, Mexico (the "Acquisition") from Fresnillo plc ("Fresnillo") and Orex Minerals Inc. (TSX-V: REX) ("Orex", together with Fresnillo, the "Vendors").
About this update from Fresnillo Plc
VANCOUVER, BC, May 4, 2026 /CNW/ - Silver Viper Minerals Corp. (TSXV: VIPR) (OTCQX: VIPRF) ("Silver Viper" or the "Company") has closed its previously announced acquisition of the Coneto Silver-Gold Project ("Coneto" or the "Coneto Project") located in Durango, Mexico (the "Acquisition") from Fresnillo plc ("Fresnillo") and Orex Minerals Inc. (TSX-V: REX) ("Orex", together with Fresnillo, the "Vendors"). "Closing the Coneto acquisition marks an important milestone for Silver Viper, and we are particularly pleased to welcome Fresnillo as a shareholder. Their involvement underscores the strength of the project and aligns with our strategy of advancing high-quality assets alongside credible industry participants." said Steve Cope, Silver Viper's CEO. Pursuant to the Acquisition, Silver Viper acquired all of the outstanding shares of the corporate joint venture which currently holds the Coneto Project. Silver Viper issued an aggregate of 25,531,875 common shares to the Vendors (the "VIPR Shares") in satisfaction of the US$15 million purchase price (C$20,425,500), each VIPR Share at a deemed price of C$0.80 per share. The VIPR Shares issued on closing of the Acquisition are subject to a statutory 4-month hold period under applicable Canadian securities laws. In connection with closing, Fresnillo and Silver Viper have entered into an investor rights agreement providing customary anti-dilution rights for Fresnillo, a copy of which will be available under the Company's profile on SEDAR+. Silver Viper is also pleased to announce the appointment of Ruben Alvidrez, Director of Projects and Board Member at Luca Mining Corp., to the Company's Board of Directors. Mr. Alvidrez brings extensive leadership and operational experience in the mining and financial sectors. Prior to joining the mining industry, Mr. Alvidrez spent over 26 years with Citigroup, serving as Senior Vice President of Corporate Operations for Mexico and Latin America. His background combines deep expertise in corporate governance, operations management, and strategic finance. About the Coneto Silver-Gold Project The Coneto Project is located approximately 100 kilometres north of Durango City, within the historic Coneto Mining District, one of Mexico's oldest and most prol...