Silver Storm ships first concentrates from Mexico mine

Silver Storm Mining Ltd. [SVRS-TSXV, SVRSF-OTCQB, SVR-FSE] has shipped the first lead-silver and zinc concentrates from its wholly-owned La Parrilla Silver Mine Complex in Durango State, Mexico.

The company completed the shipment following initial production using the sulphide processing circuit at the site. The initial cargo consisted of 105 dry tonnes of lead-silver concentrates as well as 70 dry tonnes of zinc concentrate. The delivery was made under a previously announced offtake pre-payment agreement.

On Tuesday, Silver Storm share eased down 2.43% or $0.01 to 40 cents. The shares trade in a 52-week range of 79.5 cents and 17 cents.

“Our first concentrate shipment is a defining milestone for Silver Storm – real, saleable product from La Parrilla moving to market under our offtake agreement with a globally recognized company,’’ said Silver Storm President Greg McKenzie. “Through the hard work of our team, we have taken La Parrilla from care and maintenance to a revenue-generating operation,’’ he said. “Silver Storm is now in a position to continue shipping concentrates on an ongoing basis.’’

Situated roughly 76 kilometres south-east of Durango’s capital, La Parrilla, consists of 40 mining concessions covering 38,128 hectares.

About two year ago, Silver Storm completed the acquisition of a 100% interest in the La Parrilla Silver Mine Complex, a prolific operation which consists of a 2,000 tonne-per-day mill as well as five underground mines and an open pit that collectively produced 34.2 million silver equivalent ounces between 2005 and 2019.

When placed on care and maintenance in September 2019, La Parrilla was a fully-permitted mine complex.

Silver Storm acquired the asset from First Majestic Silver Corp. [FR-TSX, AG-NYSE, FMV-Frankfurt], a company that currently ranks as Silver Storm’s largest shareholder. Silver Storm’s other key shareholders include financier Eric Sprott, who currently owns a 10.5% stake in the company on a non-diluted basis.

The property was acquired by First Majestic in 2004 and became its first silver mine in 2005.

Silver Storm has previously said its short-term objective was to commence exploration within and near-mine workings in order to expand the resource base, to support the ultimate goal and vision of placing the asset back into production.

In a press release on July 22, 2026, the company released drill results from the mineralized oxide zones within the past-producing San Marcos underground mine at La Parrilla. McKenzie said the results demonstrate the potential to grow the La Parrilla oxide mineral resource. The San Marcos zone consists of quartz-carbonate vein mineralization, striking north-northwest and dipping 60 degrees to the northeast.  While the zone is mainly characterized by oxide mineralization, the southern section of the zone below the 1875 elevation is characterized by sulphide replacement mineralization.

The company said drill results from San Marcos demonstrate the potential to extend the indicated resources by an additional 100 metres towards the surface along a strike length of 425 metres, while inferred resources could be extended by an additional 65 metres toward surface.