Canadian Miner Strikes Gold With 159 Million Sale Of Us Royalty Rights

Silver Storm sells Nevada’s Springer Mine royalty in major move for Canadian mining company

Silver Storm Mining, a Canadian exploration and resource company, has sold the non-core capped production gross royalty related to the Springer Mine & Mill property in Nevada, US. The sale generated C$2.18m ($1.59m) in cash proceeds, providing the company with much-needed financial flexibility as it moves forward with its development plans.

The company holds full ownership of the San Diego Project, considered one of Mexico’s largest undeveloped silver deposits. This significant asset is a key part of Silver Storm Mining’s strategy to expand its operations and increase its production capabilities. The San Diego Project boasts a vast area of 38,128 hectares, comprising 40 contiguous mining concessions, all reportedly in good standing.

The Springer royalty sale was a strategic move for Silver Storm Mining, allowing the company to monetize one of its non-core assets while adding liquidity ahead of the potential restart of operations at the La Parrilla Silver Mine Complex. The complex, located approximately 76km south-east of Durango City in Durango State, Mexico, features a 2,000t per day processing plant and three underground mines.

Silver Storm Mining is focused on progressing towards a potential near-term restart at its La Parrilla Silver Mine Complex. A 6,000m underground drilling campaign has been initiated to support exploration and help advance the anticipated development of the Quebradillas, San Marcos, and Rosarios mines within the complex. This programme will focus on step-out and infill drilling to further understand the mineral potential of the site.

The La Parrilla Silver Mine Complex has a rich history, having produced significant amounts of silver in the past. The complex’s processing plant was designed to handle large quantities of ore, making it an ideal location for further development. With its strong exploration history and existing infrastructure, the complex presents a compelling opportunity for Silver Storm Mining to increase production and expand its operations.

The Springer royalty sale is just one of several moves that Silver Storm Mining has made in recent times to strengthen its financial position. The company’s focus on progressing towards a restart at the La Parrilla Silver Mine Complex demonstrates its commitment to expanding its operations and increasing production. With C$2.18m in cash proceeds, Silver Storm Mining will be well-positioned to meet its development goals and capitalize on the growing demand for silver.

The Springer royalty was originally acquired through Silver Storm’s purchase of Till Capital in 2025. At the time of acquisition, Till’s portfolio included four mining royalties, with the Springer royalty capped at $2.5m. The sale represents a significant return on investment for Silver Storm Mining, allowing the company to generate C$2.18m in cash proceeds.

Silver Storm Mining president and CEO Greg McKenzie stated that the Springer royalty sale represented an opportunity to monetise one of its non-core royalty assets while adding financial flexibility ahead of the potential restart of operations at the La Parrilla Silver Mine Complex in the second quarter of 2026. The company’s focus on progressing towards a restart at its La Parrilla Silver Mine Complex demonstrates its commitment to expanding its operations and increasing production.

Silver Storm Mining is well-positioned to take advantage of the current market conditions, with its significant asset portfolio and experienced management team providing a solid foundation for growth. The company’s focus on further development of its San Diego Project and restarting its La Parrilla Silver Mine Complex will likely drive growth and increase production.

The Springer royalty sale marks an important milestone in Silver Storm Mining’s efforts to strengthen its financial position and advance its development plans. With the cash proceeds from the sale, the company will be well-positioned to capitalize on the growing demand for silver and achieve its goals.