TSX-V Trading Symbol: SNS
VANCOUVER, May 29 /CNW/ - SNS Silver Corp (TSX-V: SNS) is pleased to announce that SNS has engaged Scott F. Gibson & Company to assist in the design and implementation of a comprehensive marketing and investor communications program for the company.
Scott F. Gibson & Company is a Vancouver-based strategic marketing and communication firm that will increase SNS' exposure to industry stakeholders and investors. Scott Gibson and his team will be responsible for providing advice to the company with respect to corporate development, producing and distributing effective marketing communication tools and increasing investor awareness.
Under the renewable agreement, Gibson & Company will receive a fee of $7,500 per month for an initial term of one year and incentive stock options to purchase up to 600,000 common shares of the company at a price of $1.25 per share. The options will vest over a period of 12 months and will be subject to the terms and conditions of the company's stock option plan. The options will expire on the earliest of the 30th day following termination of the agreement or May 29, 2009.
Both Gibson & Company and its principal, Mr. Gibson, are at arm's length to the company.
SNS Silver Corp. owns 100% of the Crescent Mine in the Coeur d'Alene mining district. The Crescent Mine is a historic high-grade silver producer. From 1917-1982 the property produced 25 million ounces of silver at an average grade of 27.3 ounces per ton. Prior to its last shut down in the 80's, previous operators of the Crescent Mine reported over 9 million ounces of silver resources at an average grade of 18 ounces per ton. The property lies between two world-class silver producers: the Sunshine mine which has produced more than 300 million ounces of silver and the Bunker Hill mine, which has produced over 150 million ounces of silver. The Coeur d'Alene district is the only known mining district in North America to have produced over 1 billion ounces of silver. SNS Silver (SNS) trades on the TSX-V under the symbol SNS. The Company has approximately 29.2 million shares outstanding and approximately $9.0 million cash on hand.
All resource estimates quoted herein are based on data and reports obtained and prepared by previous operators. The Company has not completed the work necessary to independently verify the classification of the mineral resource estimates and is not treating the mineral resource estimates as National Instrument 43-101 defined resources verified by a qualified person. The historical estimates should not be relied upon. The Crescent Mine will require considerable further evaluation, which the Company's management and consultants are in the process of completing.
The TSX Venture Exchange has not reviewed and does not accept the
responsibility for the adequacy or accuracy of this news release.
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