Silver Viper Secures Major Strategic Investor in Landmark Deal

Silver Viper Minerals expands in Mexico with major Coneto project acquisition, bringing Fresnillo plc on board as a strategic shareholder in a US $15 million deal.

In a transformative move for the company, Silver Viper Minerals Corp. has entered into a definitive agreement to acquire the Coneto silver-gold project in Durango, Mexico. This transaction marks the most significant deal in the junior explorer's history and introduces Fresnillo plc, one of the world's largest primary silver producers, as a new strategic shareholder.

Strategic Expansion and New Leadership

The acquisition substantially expands Silver Viper's footprint in Mexico. The company's portfolio will now comprise three key assets: its flagship La Virginia gold-silver project in Sonora, the newly acquired Coneto project, and the Cimarron gold-copper project in Sinaloa. The La Virginia asset is supported by a historical drilling database exceeding 52,000 meters, while Cimarron hosts a gold-copper porphyry system within a prolific mineral belt.

Concurrent with the deal, Silver Viper plans to appoint Ruben Alvidrez to its board of directors. Alvidrez brings over 26 years of experience in Mexico and Latin America, having served as a board member for Luca Mining Corp. and previously as a Senior Vice President at Citigroup.

Transaction Details and Structure

On March 13, 2026, Silver Viper executed a binding purchase agreement with Fresnillo plc and Orex Minerals Inc. The company will acquire 100% of the Coneto project—comprising a 61.21% interest from Fresnillo and a 38.79% interest from Orex—through a share-based transaction.

The consideration involves the issuance of 25,531,875 new common shares of Silver Viper at a deemed price of CAD $0.80 per share, representing an aggregate purchase price of US $15 million. Upon closing, both Fresnillo and Orex will become major shareholders. Fresnillo will also receive standard anti-dilution rights through an investor rights agreement. The shares issued will be subject to a statutory four-month hold period under Canadian securities law. Final approval from the TSX Venture Exchange remains a condition for completion.

The Coneto Project's Potential

Strategically located in the heart of Mexico's silver belt, the Coneto property covers nearly 5,000 hectares and hosts more than 40 known epithermal quartz veins. Fresnillo has already invested over US $6 million in historical exploration work on the asset.

The project's current inferred resource stands at 286,000 ounces of gold at 1.67 g/t and 19.1 million ounces of silver at 112 g/t. This equates to approximately 538,000 gold-equivalent ounces at a grade of 3.15 g/t.

With pending TSXV approval as the final formal step, Silver Viper moves closer to concluding the deal. This paves the way for systematic exploration programs aimed at unlocking the district-scale potential at Coneto. The company's shares have declined roughly 47% year-to-date, trading near their 52-week low of 0.64 Euros.