Toronto, Ontario, March 22, 2017 – Canadian Silver Hunter Inc. (“CSH” or the “Company”) (TSX VENTURE: AGH.H) Provides Update & Clarification to Shareholders
After several communications with shareholders, Canadian Silver Hunter Inc. (“Canadian Silver”) would like to clarify some of the recent announcements and events involving Canadian Silver, Cobalt Projects International (“Cobalt Projects”), and First Cobalt Corp (First Cobalt).
Canadian Silver Hunter is the 100% owner of the Keeley and Frontier mines.
As announced on January 30, 2017, Canadian Silver granted an “option” (the “Option”) to Cobalt Projects to earn up to 100% in the Keeley and Frontier mines. Cobalt Projects is a privately held Ontario-based mineral exploration company.
On March 16, 2017, First Cobalt announced that it would “acquire” the Keeley Frontier Mines pursuant to a definitive agreement to acquire all of the outstanding share capital of Cobalt Projects, subject to the approval of the TSX Venture.
Through the purchase of all of the outstanding shares of Cobalt Projects, First Cobalt owns Cobalt Projects and First Cobalt is indirectly entitled to the option to earn up to a 100-per-cent interest in Keeley-Frontier on the terms as announced on January 30, 2017:
Canadian Silver Hunter will remain as the 100% owner of the South Lorrain Project until First Cobalt has satisfied the first part of the option, and earned a minimum of 50%.
About Canadian Silver Hunter Inc.
CSH is a Canadian exploration company focused on the exploration of silver-cobalt deposits on its flagship South Lorrain Project (formerly the Keeley Frontier Project). The South Lorrain Project is located within the historic South Lorrain Silver Camp, which along with the historic Cobalt and Gowganda silver camps is part of a world class cobalt-silver district in the Abitibi Greenstone Belt between Temagami and Kirkland Lake, in northeastern Ontario.
For further information please contact:
Canadian Silver Hunter Inc.
President and CEO
(416) 707 4230