TORONTO, May 27, 2021 (TSXV: SRHI) - SRHI Inc. ("SRHI" or the "Company”) announces that it has filed a revised and amended technical report (the “MTV Amended Technical Report”) on its 70% owned Minera Tres Valles Copper Project (“MTV” or the “Project”) prepared in accordance with National Instrument 43-101 (“NI 43-101”). The MTV Amended Technical Report withdraws the Preliminary Economic Assessment (“PEA”) portions of its previously filed technical report (the “MTV Technical Report”).
In a press release dated April 12, 2021, the Company noted that the staff of the Ontario Securities Commission (“OSC”) advised the Company that each of the Feasibility Study (“FS”), Pre-feasibility Study (“PFS”) and the PEA included in the MTV Technical Report, on their own, are valid and acceptable studies under NI-43-101 – Standards of Disclosure for Mineral Projects (“NI-43-101”). However, staff of the OSC had concerns with the presentation of these studies in the MTV Technical Report because they each include development plans in respect of some of the same mineralized material. In the opinion of staff of the OSC, concurrent, mutually exclusive mine development plans cannot be disclosed together as they each cannot simultaneously be implemented or, in other words, the plans are inconsistent with each other. This incompatibility of presenting two alternative development options does not invalidate the PEA study that presented an alternative development option for the total of all nine identified mineral deposits of Papomono and Don Gabriel.
The references to the development and production at a PFS and FS level of the Papomono Masivo and Don Gabriel Mantos deposits continue to be valid.
About SRHI Inc.
SRHI, headquartered in Toronto, Ontario, Canada is focused on growing copper production from, and further exploration of, its primary asset, MTV. Located in Salamanca, Chile, MTV is 70% owned by the Company and MTV's main assets are the Minera Tres Valles mining complex and its 46,000 hectares of exploratory lands. For more information about SRHI, please, please visit www.srhi.ca.
For further information:
Michael Staresinic
President and Chief Financial Officer
T: (416) 943-7107
E: mstaresinic@srhi.ca
Renmark Financial Communications Inc.
Joshua Lavers: jlavers@renmarkfinancial.com
T: (416) 644-2020 or (212) 812-7680
Source: SRHI Inc.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
