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San Marco Closes $448,000 Non-brokered Unit Private Placement

By | 2019

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES OF AMERICA

Vancouver, B.C. – November 21, 2019: San Marco Resources Inc. (TSX-V: SMN) (“San Marco” or the “Company”) has completed the sale of 3,738,334 units at $0.12 per unit for gross proceeds of $448,600 under its non-brokered unit private placement announced September 26, 2019. Each unit was comprised of one share and one warrant to purchase one common share for three years at a price of $0.20 for the first two years and $0.25 for the third year. The Company paid 6% finders fees in cash ($12,096) or units (24,000) and 6% finder warrants (124,800), each finder warrant exercisable to purchase one share for $0.12 for one year, to Haywood Securities Inc., Canaccord Genuity Corp. and PI Financial Corp.

The shares issued and issuable on exercise of the warrants are subject to a restricted resale period until March 22, 2020.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration requirement is available.

About San Marco

San Marco is a Canadian mineral exploration company actively pursuing world class gold, silver, zinc and copper projects with a focus in mining friendly jurisdictions in both British Columbia, Canada and Mexico.

The Company’s principal focus and asset is the recently optioned Buck Property in north-central British Columbia that has large tonnage gold-silver-zinc potential in a mining-friendly region that includes many former and current operating mines. In addition, the Company’s portfolio includes the several prospective, early stage exploration properties in Mexico.

For further information, contact:

Robert Willis, P. Eng.
Executive Director

info@sanmarcocorp.com

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

San Marco Closes $448,000 Non-brokered Unit Private Placement

San Marco Revises Terms of Non-Brokered Unit Private Placement and Closes Subscription Books for Unit and Flow Through Share Private Placements

By | 2019

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES OF AMERICA

Vancouver, B.C. – November 8, 2019: San Marco Resources Inc. (TSX-V: SMN) (“San Marco” or the “Company”) announces that it has revised the terms of its non-brokered unit private placement announced September 26, 2019. The private placement now consists of 3,138,334 units at a price of $0.12 per unit for gross proceeds of C$ 376,600. Each unit will be comprised of one share and one warrant to purchase one common share for three years at a price of $0.20 for the first two years and $0.25 for the third year. The Company will pay finders fees in cash and finders warrants (each now exercisable to purchase one share for $0.12 for one year) to eligible finders in accordance with the policies of the TSX Venture Exchange.

Under the revised terms, the non-brokered placement is now fully subscribed and Exchange approval is now being sought to complete the placement. Closing is anticipated to occur on or about November 15, 2019.

The subscription book for the flow through share financing, announced October 9, 2019, has also closed. San Marco has received subscriptions for 200,000 flow through shares at a price of $0.20 per flow through share, for gross proceeds of $40,000.

San Marco also announces the appointment of Sharyn Alexander to the position of Vice-President, Technical Services. Sharyn holds a M.Sc. (Geology) degree from the University of Toronto and prior experience includes positions at B2Gold, Barrick Gold (Australia), and SRK Consulting. Her diversified skillset includes GIS and data management, geological modelling, project evaluation, technical writing, and providing support to business development initiatives.

Bob Willis, San Marco’s Executive Director stated: “We are extremely pleased to have Sharyn join the San Marco team. With exploration activities ramping up at our recently acquired Buck gold-silver property in north central B.C., Sharyn will be involved in all aspects of Buck’s exploration, as well as evaluating new opportunities, corporate development and marketing“.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration requirement is available.

About San Marco

San Marco is a Canadian mineral exploration company actively pursuing world class gold, silver, zinc and copper projects with a focus in mining friendly jurisdictions in both British Columbia, Canada and Mexico.

The Company’s principal focus and asset is the recently optioned Buck Property in north-central British Columbia that has large tonnage gold-silver-zinc potential in a mining-friendly region that includes many former and current operating mines. In addition, the Company’s portfolio includes the several prospective, early stage exploration properties in Mexico.

For further information, contact

Robert Willis, P. Eng.
Executive Director

info@sanmarcocorp.com

National Instrument 43-101 Disclosure

This news release has been approved by San Marco’s CEO, Robert D. Willis, P. Eng. a “Qualified Person” as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. He has verified the data disclosed, including sampling, analytical and test data, underlying such technical information by reviewing the assay reports provided to San Marco by its independent testing laboratory.

Forward Looking Information

Information set forth in this document may include forward-looking statements. While these statements reflect management’s current plans, projections and intents, by their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the control of San Marco Resources Inc. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on these forward-looking statements. San Marco’s actual results, programs, activities and financial position could differ materially from those expressed in or implied by these forward-looking statements.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

San Marco Revises Terms of Non-Brokered Unit Private Placement and Closes Subscription Books for Unit and Flow Through Share Private Placements

San Marco to Raise $ 0.5 Million In Flow-through Private Placement

By | 2019

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES OF AMERICA

Vancouver, B.C. – October 9, 2019: San Marco Resources Inc. (SMN: TSX-V) announces that it intends to complete a private placement for gross proceeds of up to $500,000 through the issuance of up to 2,500,000 shares at a price of $0.20 each. The shares will qualify as “flow-through” shares under the Income Tax Act (Canada).

The proceeds of the private placement will be used to incur “Canadian Exploration Expenses” on the exploration on the Buck property which qualify as “Flow-Through Mining Expenditures” under the Income Tax Act. Such expenditures will be renounced to subscribers effective December 31, 2019.

The Company may pay finders fees in cash and finders warrants (each exercisable to purchase one share for $0.20 for one year) to eligible finders in accordance with the policies of the TSX Venture Exchange.

All the securities issued and issuable pursuant to this private placement will be subject to a four month restricted resale period. Completion of the offering is subject to receipt of approval from the TSX Venture Exchange.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration requirement is available.

About San Marco

San Marco is a Canadian mineral exploration company actively pursuing world class gold, silver, zinc and copper projects with a focus in mining friendly jurisdictions in both British Columbia, Canada and Mexico.

The Company’s principal focus and asset is the recently optioned Buck Property in north-central British Columbia that has large tonnage gold-silver-zinc potential in a mining-friendly region that includes many former and current operating mines. In addition, the Company’s portfolio includes the several prospective, early stage exploration properties in Mexico.

For further information, contact:

Robert Willis, P. Eng.
Executive Director

info@sanmarcocorp.com

Forward Looking Information

Information set forth in this document may include forward-looking statements. While these statements reflect management’s current plans, projections and intents, by their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the control of San Marco Resources Inc. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on these forward-looking statements. San Marco’s actual results, programs, activities and financial position could differ materially from those expressed in or implied by these forward-looking statements.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

San Marco to Raise $1.05 Million Through Non-brokered Private Placement

By | 2019

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES OF AMERICA

Vancouver, B.C. – September 26, 2019: San Marco Resources Inc. (SMN: TSX-V) announces that it intends to complete a non-brokered private placement to raise gross proceeds up to C$ 1,050,000.

The private placement will consist of up to 7,000,000 units at a price of $0.15 per unit. Each unit will consist of one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one common share for three years at a price of $0.20 for the first two years and $0.25 for the third year.

The placement will be sold to qualified investors, including shareholders of record resident in Canada on September 24, 2019. Such shareholders are eligible to purchase up to $15,000 worth of units without an investment dealer or more than $15,000 worth with suitability advice from a registered investment dealer. If, after deducting subscriptions from qualified investors, the subscriptions from existing shareholders exceed the remaining units available, such remaining units will be sold to the existing shareholders in proportion to the number of units subscribed for by them.

The Company may pay finders fees in cash and finders warrants (each exercisable to purchase one share for $0.15 for one year) to eligible finders in accordance with the policies of the TSX-V.

Proceeds of the private placement will be used for funding exploration of the Buck property, consisting primarily of drilling (approximately $500,000), general exploration for high quality gold/silver properties in B.C. (approximately $200,000) and working capital (approximately $350,000).

All the securities issued pursuant to this private placement will be subject to a four month restricted resale period. Completion of the offering is subject to receipt of approval from the TSX Venture Exchange.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration requirement is available.

About San Marco

San Marco is a Canadian mineral exploration company actively pursuing world class gold, silver, zinc and copper projects with a focus in mining friendly jurisdictions in both British Columbia, Canada and Mexico.

The Company’s principal focus and asset is the recently optioned Buck Property in north-central British Columbia that has large tonnage gold-silver-zinc potential in a mining-friendly region that includes many former and current operating mines. In addition, the Company’s portfolio includes the several prospective, early stage exploration properties in Mexico.

For further information, contact:

Robert Willis, P. Eng.
Executive Director

info@sanmarcocorp.com

National Instrument 43-101 Disclosure

This news release has been approved by San Marco’s CEO, Robert D. Willis, P. Eng. a “Qualified Person” as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. He has verified the data disclosed, including sampling, analytical and test data, underlying such technical information by reviewing the assay reports provided to San Marco by its independent testing laboratory.

Forward Looking Information

Information set forth in this document may include forward-looking statements. While these statements reflect management’s current plans, projections and intents, by their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the control of San Marco Resources Inc. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on these forward-looking statements. San Marco’s actual results, programs, activities and financial position could differ materially from those expressed in or implied by these forward-looking statements.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

San Marco Prepares Buck Property for Drilling

By | 2019
Vancouver, B.C. – September 24, 2019: San Marco Resources Inc. (SMN: TSX-V) announces that its exploration activities on the recently 100% optioned Buck gold/silver property are continuing in preparation for drilling. Drilling will commence upon receipt of a drill permit (for which an application has already been made).The Buck property is located approximately 15 km south of Houston B.C. and has excellent road access enabling year-round exploration. Historical exploration includes drilling, ground and airborne geophysics, soil and rock chip grid sampling. San Marco’s geologists have compiled all available data, generated a 3-D model of historical drill assays, re-logged what little drill core is available and completed a reinterpretation of exploration potential.San Marco believes that mineralized drill core from previous exploration activities of others, indicates a breccia/diatreme (pipe) complex, which appears to be geologically similar to many multi-million ounce gold deposits worldwide. (See the corporate presentation on San Marco’s website for details.).Compelling exploration features on the Buck property include;

  • Surface gold/silver mineralization footprint 800m X 600m, open in all directions.
  • Mineralized breccia from surface to 250m (vertical) and open in depth. This is confirmed in the area where reasonable drill core was retrieved and re-logged.
  • All historical drill holes have strong to significant gold/silver mineralization, the majority of which end in mineralization.
  • Additional exploration targets exist on the ~15,000-ha property.
  • Excellent road access allows for year-round exploration.

Bob Willis, San Marco’s Executive Director states: “Acquisition of the Buck gold/silver project gives our exploration team an excellent opportunity to quickly create shareholder value through an aggressive drill program. Initial drilling, designed around our breccia/diatreme model, will step out from areas where we were able to retrieve historical drill core and identify long intercepts of mineralized breccia. Thanks to the efforts of previous explorers, none of whom focused on a breccia/diatreme model, we already know the main target area at Buck has the scale to accommodate a large gold resource. But we’re equally interested in the target because it’s still open in most directions and in Buck’s broader potential because there are other areas that present good, and untested, targets when viewed using the new breccia/diatreme model.”

About San Marco

San Marco is a Canadian mineral exploration company actively pursuing world class gold, silver, zinc and copper projects with a focus in mining friendly jurisdictions in both British Columbia, Canada and Mexico.

The Company’s principal focus and asset is its recently optioned Buck Property in north-central British Columbia that may have large tonnage gold-silver-zinc potential in a mining-friendly region that includes many former and current operating mines. In addition, the Company’s portfolio includes the several prospective, early stage exploration properties in Mexico.

For further information, contact:

Robert Willis, P. Eng.
Executive Director

info@sanmarcocorp.com

National Instrument 43-101 Disclosure

This news release has been approved by San Marco’s CEO, Robert D. Willis, P. Eng. a “Qualified Person” as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. He has verified the data disclosed, including sampling, analytical and test data, underlying such technical information by reviewing the assay reports provided to San Marco by its independent testing laboratory.

Forward Looking Information

Information set forth in this document may include forward-looking statements. While these statements reflect management’s current plans, projections and intents, by their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the control of San Marco Resources Inc. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on these forward-looking statements. San Marco’s actual results, programs, activities and financial position could differ materially from those expressed in or implied by these forward-looking statements.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

San Marco’s Shareholders Approve 3:1 Share Consolidation San Marco Updates Option to Acquire Buck Gold-Silver Project

By | 2019
Vancouver, B.C. – September 16, 2019: San Marco Resources Inc. (SMN: TSX-V) (“San Marco” or the “Company”) is pleased to advise as follows:

Share Consolidation

At a special general meeting of shareholders held today, its shareholders voted in favour of a special resolution to consolidate the Company’s shares on a three (old) into one (new) basis.

San Marco currently has 67,916,082 common shares issued and outstanding and, once the consolidation is completed, it will have 22,638,694 common shares issued and outstanding. The exercise price of outstanding incentive stock options to purchase 5,600,000 (1,866,667 post-consolidation) common shares will be increased accordingly to reflect the share consolidation. No fractional shares will be issued in the share consolidation. Instead, all resulting fractional shares of less than one-half will be rounded down to the nearest whole number, and of one-half or greater will be rounded up to the nearest whole number.

The effective date of the share consolidation is being set, in conjunction with the TSX Venture Exchange, to occur as soon as possible.

Buck Gold-Silver Project

The consolidation is a condition of San Marco’s option agreement to acquire a 100% interest in the Buck Property, an intermediate sulphidation, epithermal gold-silver zinc property near the town of Houston in north-central British Columbia, which it announced on July 16, 2019. The consolidation is expected to become effective shortly after receipt of TSX Venture Exchange approval for the consolidation.

Conditional approval of the Buck Property option has been received from the TSX Venture Exchange. Final approval is subject to the Exchange’s approval of the following which San Marco has submitted to the Exchange:

  • Geological report: An NI 43-101 report on the property prepared by Dr. David G. Bailey, P. Geo. The Exchange has provided comments on the report and they are being addressed by Dr. Bailey.
  • Financial plan: A financial plan to the Exchange under which San Marco will use its cash on hand to carry out the work program on the Property recommended in the NI 43-101 report and the maintenance costs on the Property for six months following the receipt of Exchange approval.
  • Title Opinion: The title opinion prepared by San Marco’s legal counsel.

About San Marco

San Marco is a Canadian mineral exploration company actively pursuing world class gold, silver, zinc and copper projects with a focus on mining friendly jurisdictions in both British Columbia, Canada and Mexico.

The Company’s principal focus and asset is the recently optioned Buck Property in north-central British Columbia that has large tonnage gold-silver-zinc potential in a mining-friendly region that includes many former and current operating mines. In addition, the Company’s portfolio includes the several prospective, early stage exploration properties in Mexico.

For further information, contact:

Robert Willis, P. Eng.
Executive Director

info@sanmarcocorp.com

National Instrument 43-101 Disclosure

This news release has been approved by San Marco’s Executive Director, Robert D. Willis, P. Eng. a “Qualified Person” as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. He has verified the data disclosed, including sampling, analytical and test data, underlying such technical information by reviewing the data and reports from previous exploration of the property which he believes to be accurate and were provided to San Marco by the optionors.

Forward Looking Information

Information set forth in this document may include forward-looking statements. While these statements reflect management’s current plans, projections and intents, by their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the control of San Marco Resources Inc. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on these forward-looking statements. San Marco’s actual results, programs, activities and financial position could differ materially from those expressed in or implied by these forward-looking statements.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

San Marco Updates Status of Option to Acquire Buck Gold-Silver Project, Northern British Columbia

By | 2019
Vancouver, B.C. – August 15, 2019: San Marco Resources Inc. (SMN: TSX-V) (“San Marco” or the “Company”) provides an update on its option agreement to acquire a 100% interest in the Buck Property, an intermediate sulphidation, epithermal gold-silver zinc property near the town of Houston in north-central British Columbia, which it announced on July 16, 2019.

Option Terms

By incurring at least $112,000 in exploration on the property by December 31, 2019, and making cash payments totalling $300,000 and issuing 4,000,000 shares to the optionors, Dick Billingsley, and his wife, Gaye Richards, by the fifth anniversary of the Exchange’s approval of the option agreement, San Marco will have exercised the option and earned a 100% interest in the Buck Property.

Once the option is exercised, San Marco must:

  • Grant the optionors a 2.5% net smelter returns royalty. The royalty can be reduced to 1.5% of net smelter returns by a payment of $2,500,000 to the optionors prior to the first anniversary of the commencement of commercial production.
  • Issue an additional 4,000,000 shares to the optionors upon the earlier of completion of a bankable feasibility study, the acquisition of more than 50% of the shares of the Company by a third party acquiror (or group of acquirors acting in concert) in a take-over bid or the eighth anniversary of the Effective Date.

TSX Venture Exchange Approval

Conditional approval of the option has been received from the TSX Venture Exchange. Final approval is subject to San Marco satisfying a number of conditions, including filing or obtaining the following:

  • Geological report: Dr. David G. Bailey, P. Geo has been commissioned to prepare an NI 43-101 report on the property. He has significant experience with the property and previous exploration carried out on it. The report is expected to be received in August at which time it will be provided to the Exchange for approval.
  • Financial plan: San Marco believes it has sufficient cash on hand to carry out the work program on the Property expected to be recommended in the NI 43-101 report and the maintenance costs on the Property for six months following the receipt of Exchange approval. Confirmation of same will be filed with the Exchange.
  • Title Opinion: A title opinion being prepared and sent to the Exchange.
  • Personal Information Forms: If the issuance of shares under the option would result in either or both of the optionors holding more than 10% of San Marco’s outstanding shares, such shares cannot be issued until the optionor has filed with, and the Exchange has accepted, a PIF.
  • Shareholder Approvals: A special general meeting of shareholders has been called for Monday, September 16, 2019 to approve the three into one share consolidation required under the terms of the option. Additionally, if the issuance of shares under the option would result in the optionors jointly holding more than 20% of San Marco’s outstanding shares, such shares cannot be issued until the change of control resulting therefrom has been approved by San Marco’s shareholders.

About San Marco

San Marco is a Canadian mineral exploration company actively pursuing world class gold, silver, zinc and copper projects with a focus on mining friendly jurisdictions in both British Columbia, Canada and Mexico.

The Company’s principal focus and asset is the recently optioned Buck Property in north-central British Columbia that has large tonnage gold-silver-zinc potential in a mining-friendly region that includes many former and current operating mines. In addition, the Company’s portfolio includes the Mexican properties Chunibas, Espiritu SMR, 1068 and Mariana projects in mining-friendly Sonora state while it pursues other district-scale opportunities.

For further information, contact:

Robert Willis, P. Eng.
Executive Director

info@sanmarcocorp.com

National Instrument 43-101 Disclosure
This news release has been approved by San Marco’s Executive Director, Robert D. Willis, P. Eng. a “Qualified Person” as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. He has verified the data disclosed, including sampling, analytical and test data, underlying such technical information by reviewing the data and reports from previous exploration of the property which he believes to be accurate and were provided to San Marco by the optionors.

Forward Looking Information

Information set forth in this document may include forward-looking statements. While these statements reflect management’s current plans, projections and intents, by their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the control of San Marco Resources Inc. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on these forward-looking statements. San Marco’s actual results, programs, activities and financial position could differ materially from those expressed in or implied by these forward-looking statements.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

San Marco Announces Option to Acquire 100% Interest in Buck Gold-Silver Project, Northern British Columbia

By | 2019
Vancouver, B.C. – July 16, 2019: San Marco Resources Inc. (SMN: TSX-V) (“San Marco” or the “Company”) is pleased to announce it has entered into an option agreement whereby San Marco has the right to acquire a 100% interest in the Buck Property, an intermediate sulphidation, epithermal gold/silver zinc property near the town of Houston in north-central British Columbia.The optionors are Dick Billingsley, and his wife, Gaye Richards, who notably vended the Tatogga project in the Golden Triangle to GT Gold Corp.

The Buck Property highlights include:

  • large hydrothermal system, intensely altered and oxidized breccia bodies possibly diatreme related, all mineralization is open in all directions.
  • considered to be part of the Telkwa Formation of the lower Jurassic Hazelton Group; similar to some major bulk tonnage gold deposits in B.C., such as NewGold’s Blackwater-Davidson deposit;
  • close proximity to several former operating mines: Equity Silver, (Equity Silver Mines Inc.), Endako (Centerra Gold Inc.) and Huckleberry (Imperial Metals Corporation);
  • total of 68 prior drill holes have been conducted within the property – most holes ended in gold/silver/zinc mineralization. Mineralization extends up to 300 meters below surface suggesting bulk tonnage gold/silver/zinc potential;
  • excellent exploration potential for possible new discoveries at multiple untested targets including porphyry copper deposit; high grade, structurally controlled gold/silver mineralization; and additional mineralized breccia bodies.
  • road accessible with excellent infrastructure, including access to electrical and gas utilities, highways and major airports; and
  • large land package totaling approximately 15,000 hectares

See accompanying location map.

Bob Willis, Executive Director of San Marco stated, “We are pleased to announce the acquisition of an option to acquire the Buck Property. This property represents a significant opportunity for the Company and provides San Marco with an advanced exploration staged gold-silver, zinc project in a prominent exploration region of British Columbia. The Buck Property has seen reliable prior work by notable operators, yet many of the property’s prospective exploration targets have gone untested to date. We continue to be bullish on our existing suite of Mexican prospects, but given the Buck Property’s clearly delineated targets, excellent location and year-round access and infrastructure, we intend to rapidly explore this new property and identify key target areas towards a drill program within the coming months.”

Historical Drilling:

A total of 68 prior drill holes have been drilled on the property – most holes ended in gold/silver/zinc mineralization. Mineralization extends up to 300 metres below surface suggesting bulk tonnage, low grade gold/silver/zinc potential. The Buck property has large volumes of mineralization containing greater than 0.10 grams per tonne (“g/t”) gold; greater than 1-3 g/t silver, and strongly elevated, zinc.

Note: the reported grade at the nearby analogous Blackwater-Davidson project is reported to be 0.74 grams per tonne gold.

Selected Highlights of historical drilling:

Hole
ID
From
(m)
To
(m)
Length
(m)
Au
g/t
Ag
g/t
AuEq**
g/t
Zn
%
Intercept 04-01* 84.4 255.1 170.7 0.61 3 0.64 0.3%
Includes 96.6 108.8 12.2 2.58 7 2.66 0.8%
Intercept 45-2 42.7 61.0 18.3 1.03 11 1.15 N/A
Intercept 45-3 21.3 42.7 21.3 0.69 10 0.80 N/A
Intercept 68-1* 0.0 76.2 76.2 0.93 6 0.99 N/A
Intercept 68-2* 0.0 122.5 122.5 0.71 2 0.74 N/A
Includes 33.5 54.9 21.3 1.68 6 1.75 N/A
Intercept 68-4* 0.0 91.4 91.4 0.93 2 0.95 N/A
Includes 27.4 54.9 27.4 2.74 3 2.78 N/A
Intercept 68-5* 0.0 88.4 88.4 0.79 8 0.87 N/A
Intercept 68-6* 0.0 91.4 91.4 0.33 8 0.42 N/A
Includes 12.2 45.7 33.5 0.58 21 0.82 N/A
Intercept 68-7* 0.0 76.2 76.2 0.46 10 0.57 N/A
Includes 0.0 33.5 33.5 0.62 10 0.73 N/A
Intercept 83-04* 99.0 114.0 15.0 0.72 6 0.79 0.2%
Intercept 84-11* 9.8 149.7 139.9 0.36 2 0.38 0.3%
Includes 103.0 149.7 46.7 0.71 4 0.76 0.6%
Intercept 84-13 6.7 150.0 143.3 0.75 9 0.86 0.3%
Includes 10.0 40.8 30.8 2.70 33 3.07 0.9%
Intercept 85-19* 9.9 101.8 92.0 0.57 9 0.67 N/A
Includes 9.9 67.0 57.2 0.83 12 0.96 N/A
Intercept 85-20 18.0 30.0 12.0 0.94 19 1.15 N/A
Intercept 85-21* 75.0 90.8 15.8 0.45 4 0.49 N/A
Intercept 85-23 18.0 30.0 12.0 1.06 25 1.33 N/A
Intercept 85-25 6.1 102.1 96.0 0.35 7 0.43 N/A
Includes 6.1 45.0 38.9 0.61 10 0.71 N/A
Intercept 85-28 3.5 122.5 119.1 0.31 4 0.36 N/A
Includes 3.5 21.0 17.5 0.90 12 1.04 N/A
Intercept 88-01 24.6 47.2 22.6 0.58 13 0.72 0.8%
Intercept 88-02* 16.8 282.6 265.9 0.65 4 0.70 0.4%
Includes 129.5 150.0 20.5 1.36 19 1.57 0.8%
and 187.5 214.0 26.5 2.50 6 2.56 0.8%
Intercept 88-03 84.0 193.5 109.5 0.45 3 0.49 0.5%
Includes 93.0 126.0 33.0 0.53 3 0.56 0.8%
Intercept 90-1* 76.2 239.6 163.4 0.36 5 0.41 0.2%
Includes 146.5 197.0 50.5 0.68 8 0.77 0.4%
Intercept 90-3 129.0 287.7 158.7 0.32 5 0.38 0.1%
Includes 153.7 210.0 56.3 0.45 8 0.54 0.2%

* Drill hole ends in mineralization ** AuEq calculated using Au price US$ 1,350/oz and Ag price US$ 15/oz

See accompanying drill section and the Company’s website at sanmarcoresources.com for more project illustrations and figures.

The Buck Property’s Background:

The Buck Property is located within a geologically-favourable, mineralized setting that is highly amenable to discovery of economic precious and base metal deposits. Target types include intermediate sulphidation, polymetallic epithermal deposits similar to Blackwater-Davidson, as well as porphyry Cu±Mo±Au deposits similar to nearby active and past-producing mines at Huckleberry and the Babine Lake area.

Mineralization at Buck is hosted mostly by felsic volcanic rocks that are spatially and genetically related to felsic intrusions of the highly-productive, Late Cretaceous Bulkley Intrusive Suite. These igneous rocks are temporally and compositionally correlative with host rocks and causative intrusions at the Blackwater-Davidson, Capoose and Newton polymetallic epithermal deposits.

Near-term Exploration Potential of the Buck Property:

Large portions of the Buck Property hydrothermal system have been tested only by reconnaissance drilling and many highly prospective areas remain completely untested. The scale of the Buck system, its magmatic-hydrothermal complexity and the extent of cover implies a strong potential to discover additional zones.

Prior drilling at the property returned broad intercepts of mineralization in nearly every hole, but drilling is not evenly spaced across the mineralization and many large prospective areas have not yet been drilled tested. In those areas which have been more closely drilled, there is good continuity of gold/silver grades and many drill holes end in significant gold/silver mineralization. These areas will be a priority for near-term follow up by the Company.

Based on its preliminary review of historic data, the Company’s management believes the property may have potential for overlooked brecciation that may be related to a possible diatreme (explosive breccia pipe). This would support the potential for the vertical implications of the breccia to host significant size potential. The Company’s management also believes there is the potential presence of a concealed porphyry deposit in the vicinity of the Buck property, based on comparisons with the Kerr, Sulphurets, Mitchell, Iron Cap and Snowfields deposits in the Iskut region of northwestern British Columbia. Permissible target types include Mo, Cu-Mo and Cu-Au deposits. This exploration model has also not been tested within the Buck Property.

Option Terms:

Upon incurring at least $112,000 in exploration by December 31, 2019 and completion of the following, San Marco will have exercised the option and earned a 100% interest in the Buck Property:

Due Date Payment Shares of San Marco
Upon signing $25,000 0
Following 3:1 share consolidation 0 250,000
First anniversary of Exchange approval $25,000 400,000
Second anniversary of Exchange approval $25,000 500,000
Third anniversary of Exchange approval $25,000 750,000
Fourth anniversary of Exchange approval $50,000 1,000,000
Fifth anniversary of Exchange approval $150,000 1,100,000
Totals $300,000 4,000,000

Once the option is exercised, San Marco must grant the optionors a 2.5% net smelter returns royalty. The royalty can be reduced to 1.5% of net smelter returns in consideration of a payment of $2,500,000 to the optionors made any time prior to the first anniversary of the commencement of commercial production.

An additional 4,000,000 shares of San Marco must be issued to the optionors upon the earlier of completion of a bankable feasibility study or the eighth anniversary of the Effective Date.

Share Consolidation:

It is a condition of the option agreement that, prior to the issuance of any shares pursuant to the option, San Marco must complete a three into one share consolidation.

San Marco currently has 67,916,082 common shares issued and outstanding and, if the consolidation is completed, it will have 22,638,694 common shares issued and outstanding. The exercise price of outstanding incentive stock options to purchase 5,600,000 (1,866,667 post-consolidation) common shares will be increased accordingly to reflect the share consolidation. No fractional shares will be issued in the share consolidation. Instead, all resulting fractional shares of less than one-half will be rounded down to the nearest whole number, and of one-half or greater will be rounded up to the nearest whole number.

The Company does not intend to change its name in connection with the consolidation, although its CUSIP number and ISIN will change.

A special general meeting of shareholders will be called as soon as possible to approve the consolidation.

About San Marco

San Marco is a Canadian mineral exploration company actively pursuing world class gold, silver, zinc and copper projects with a focus on mining friendly jurisdictions in both British Columbia, Canada and Mexico.

The Company’s principal focus and asset is the recently optioned Buck Property in north-central British Columbia that has large tonnage gold-silver-zinc potential in a mining-friendly region that includes many former and current operating mines. In addition, the Company’s portfolio includes the Mexican properties Chunibas, Espiritu SMR, 1068 and Mariana projects in mining-friendly Sonora state while it pursues other district-scale opportunities.

For further information, contact:

Robert Willis, P. Eng.
Executive Director

info@sanmarcocorp.com

National Instrument 43-101 Disclosure

This news release has been approved by San Marco’s Executive Director, Robert D. Willis, P. Eng. a “Qualified Person” as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. He has verified the data disclosed, including sampling, analytical and test data, underlying such technical information by reviewing the data and reports from previous exploration of the property which he believes to be accurate and were provided to San Marco by the optionors.

Forward Looking Information

Information set forth in this document may include forward-looking statements. While these statements reflect management’s current plans, projections and intents, by their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the control of San Marco Resources Inc. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on these forward-looking statements. San Marco’s actual results, programs, activities and financial position could differ materially from those expressed in or implied by these forward-looking statements.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

San Marco Announces the Results of its AGM and Corporate Appointments

By | 2019
Vancouver, B.C. – June 24, 2019: San Marco Resources Inc. (SMN: TSX-V) (“San Marco” or “the Company”) announces the results of its annual general meeting held on June 20, 2019. Tookie Angus, Brian Lock, Andy Carstensen, Craig Prenter and Robert Willis were re-elected as directors of the Company for the next year. Bill Myckatyn, did not stand for re-election. San Marco’s board thanks Bill for his years of significant contributions to San Marco and wishes him well in his retirement.

Also at the meeting, Dale Matheson Carr-Hilton Labonte LLP, Chartered Professional Accountants, were re-appointed as San Marco’s auditor and San Marco’s stock option plan was ratified.

Subsequent to the meeting, San Marco’s board appointed:

  • Tookie Angus as Chairman;
  • Robert Willis as Executive Director;
  • Christian Grijalva as Chief Operating Officer – Mexico with a mandate to focus on generating mineral property opportunities, primarily in Northern Mexico;
  • Fernando Costa as Chief Financial Officer; and
  • Michael Provenzano as Secretary.

The Company is expanding its exploration jurisdiction to include Canada, specifically British Columbia. As a result, Robert Willis will, on an interim basis, carry out some of the chief executive responsibilities as well as be involved in all potential growth acquisitions.

Robert Willis, Executive Director, stated “We see the current junior resource environment as an opportunity to add significant quality assets to San Marco’s current property portfolio. Between Chris and I, we expect to build shareholder value in Mexico and Canada, as a culmination of ongoing review, discussion and acquisition negotiations of quality mineral property opportunities.”

About San Marco

San Marco Resources Inc. is a Canadian mineral exploration company with a portfolio of promising projects in mining-friendly Mexico, including the Espiritu SMR, Mariana and 1068 Projects in Sonora State.

San Marco actively pursues strategic project generation program focused on high-calibre, low acquisition cost opportunities in Canada and northwestern Mexico. The Company has a committed management team with extensive experience in Mexico and a proven track record of building shareholder value. San Marco currently has 67,916,082 issued and outstanding shares.

On behalf of the Board of Directors,

Robert Willis, B.Sc. P. Eng.
Executive Director

For further information, contact:
info@sanmarcocorp.com

National Instrument 43-101 Disclosure

The technical information contained in this document has been verified, and this news release has been approved, by San Marco’s Executive Director, Robert D. Willis, P. Eng. a “Qualified Person” as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.

Forward Looking Information

Information set forth in this document may include forward-looking statements. While these statements reflect management’s current plans, projections and intents, by their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the control of San Marco Resources Inc. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on these forward-looking statements. San Marco’s actual results, programs, activities and financial position could differ materially from those expressed in or implied by these forward-looking statements.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

San Marco Resources Provides Corporate Update And Growth Strategy For 2019

By | 2019
Vancouver, B.C. – April 18, 2019: San Marco Resources Inc. (SMN: TSX-V) (“San Marco” or the “Company”) is pleased to provide a corporate update on continued exploration activities at its existing projects in Sonora, Mexico along with ongoing evaluation of possible new project acquisitions currently under review.

San Marco continues to hold a diversified portfolio of prospective property assets in Mexico’s mining-friendly Sonora State and is continually pursuing its efforts to identify potential new property acquisitions to add value to the Company’s portfolio. The Company’s near-term strategy for 2019 is expected to include the following:

  • Near-term exploration programs and budgets being finalized for the Company’s 100% owned Espiritu SMR and 1068 properties with a focus on target delineation;
  • Follow-up work programs being contemplated for multiple underexplored areas within the 100% owned Chunibas Project (see details below);
  • Multiple submissions for highly prospective new property acquisitions becoming available through the Mexican government lottery (libertad de terrenos);
  • Strategic targeting and evaluation of multiple potential new property acquisitions in various jurisdictions; and
  • Ongoing potential partnership discussions regarding the Company’s existing assets.

Christian Grijalva, CEO of San Marco, stated “We are excited about the outlook for San Marco in the months ahead. The Company maintains a comfortable working capital balance and relatively tight share structure. This, combined with the Company’s current suite of property assets and extensive in-country intelligence to source possible new acquisitions under reasonable terms, provides the Company numerous avenues to bring growth and value for its shareholders. We look forward to providing additional details as our work progresses.”

As announced in August 2018, San Marco signed an earn-in agreement with a wholly-owned subsidiary of Antofagasta plc over San Marco´s 100% owned Chunibas Project in Sonora State, Mexico (see news release August 9, 2018). A firm exploration expenditure commitment of US$700,000 funded by Antofagasta was deployed for an initial phase of drilling in the partnership. Results from the drill program were announced in December 2018.

Though the initial program evidenced encouraging characteristics associated with a possible mineralized system warranting additional follow up, Antofagasta determined the results did not meet its required threshold at this time and has elected not to proceed.

The Company thanks Antofagasta for its interest in Chunibas and funding of the initial drill program which provided valuable, additional technical information applicable to ongoing exploration work at multiple underexplored prospective targets within the project. San Marco once again retains a 100% interest in the project and management believes it remains prospective for follow up exploration that may be conducted by the Company or other potential interested parties in the future.

About San Marco

San Marco Resources Inc. is a Canadian mineral exploration company with a portfolio of promising projects in mining-friendly Mexico, including the Espiritu SMR, Mariana and 1068 Projects in Sonora State.

San Marco actively pursues strategic project generation program focused on high-caliber, low acquisition cost opportunities in the north-western Mexico. The Company has a committed management team with extensive experience in Mexico and a proven track record of building shareholder value. San Marco currently has 67,916,082 issued and outstanding shares.

On behalf of the Board of Directors,

Christian Grijalva, B.Sc.
Chief Executive Officer

info@sanmarcocorp.com

National Instrument 43-101 Disclosure

The technical information contained in this news release has been approved by San Marco’s Co-Chairman, Robert D. Willis, P. Eng. a “Qualified Person” as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. He has verified any data disclosed, including sampling, analytical and test data, underlying such technical information by reviewing the assay reports provided to San Marco by its independent testing laboratory.

San Marco has implemented quality assurance (“QA”) and quality control (“QC”) programs to ensure sampling and analysis of all exploration work is conducted in accordance with the best possible practices. All sampling programs are carried out in a careful and diligent manner using scientifically established sampling practices designed and tested to ensure that the results are representative and reliable. Quality control programs appropriate to the type of sample and the mineralization are implemented, including such measures as external blanks, standards and duplicate samples. The security of samples from sample acquisition to analysis is a vital component of the sampling process. Procedures include the use of secure core logging, sampling, storage and preparation facilities as appropriate and the prompt, secure and direct shipping of samples to the laboratories. Appropriate sample security procedures are employed given the geographic and topographic conditions and the logistics created by the site location.

Forward Looking Information

Information set forth in this document may include forward-looking statements. While these statements reflect management’s current plans, projections and intents, by their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the control of San Marco. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on these forward-looking statements. San Marco’s actual results, programs, activities and financial position could differ materially from those expressed in or implied by these forward-looking statements.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.