Silver Viper Minerals Secures Major Mexican Silver-Gold Project in $15 Million Deal

Silver Viper Minerals consolidates in Mexico, acquiring the advanced Coneto project from Fresnillo and Orex, funded by a share issuance that brings the sellers on as major shareholders.

Silver Viper Minerals Corp. is making a strategic move to consolidate its position in Mexico's precious metals sector. The company has agreed to acquire the Coneto silver-gold project, located in Durango, for a total consideration of $15 million. This acquisition provides the explorer with a significant, advanced-stage asset in a prolific mining district and aligns with broader industry efforts to secure supply chains for critical minerals.

Transaction Financing and Shareholder Alignment

To fund the purchase, Silver Viper will issue approximately 25.5 million new common shares at a deemed price of C$0.80 per share. These shares will be issued directly to the project's current owners: Fresnillo plc and Orex Minerals Inc., who previously held 61.21% and 38.79% interests, respectively. This transaction effectively brings these established industry players on board as significant, long-term shareholders of Silver Viper.

The deal includes notable governance changes. Upon closing, Ruben Alvidrez will join Silver Viper's board of directors. Fresnillo will maintain a strategic equity position in the company and retain anti-dilution rights, ensuring its continued involvement. Final completion of the transaction remains subject to customary conditions, including formal approval from the TSX Venture Exchange.

Strategic Rationale in a Growing Market

This expansion occurs against a backdrop of rising global demand for silver and gold, driven significantly by industrial needs in renewable energy and technology sectors. Mining firms are actively seeking advanced projects with proven geological potential to meet this demand. By integrating the Coneto property, Silver Viper gains a foothold in a historically mineral-rich region of Mexico, positioning itself to benefit from these macro trends.

The involvement of the former project owners as new major shareholders creates a stable foundation for developing the Coneto asset. Once the necessary regulatory approvals are received, the company's management team will shift its focus to the operational advancement of the property.