TMIAF changed to GRCAF:

https://otce.finra.org/otce/dailyList?viewType=Symbol%2FName%20Changes

TMIAF: effective Nov. 5, 2019 TriMetals Mining Inc. will change to Gold Springs Resource Corp.:


https://otce.finra.org/otce/dailyList?viewType=Symbol%2FName%20Changes

TriMetals Mining Announces Class B Share Redemption Process and Redemption Amount
Press Release | 10/04/2019
VANCOUVER, BC / ACCESSWIRE / October 4, 2019 / TriMetals Mining Inc. (TSX:TMI and TMI.B) (OTCQB:TMIAF and TMIBF) (the "Company" or "TMI") is pleased to announce that it is to redeem each Class B share of the Company (the "Class B Shares") for the sum of $ US$0.09827 per Class B Share (the "Class B Redemption Amount") on November 4, 2019, and that it has sent letters to registered holders of the Class B Shares advising them of the redemption.

On August 29, 2019, the Company and its wholly-owned subsidiaries South American Silver Limited ("SASL") and Compañia Minera Malku Khota S.A., had entered into an agreement (the "Settlement Agreement") with the Government of the Plurinational State of Bolivia ("Bolivia") for US$25,798,000 to settle SASL's international arbitration against Bolivia for the 2012 expropriation of the Malku Khota project, and to transfer to Bolivia the exploration data of the Malku Khota project owned by the Company (the "Data"). (See TMI's press release dated August 29, 2019, for further details).

On September 5, 2019, pursuant to the Settlement Agreement, Bolivia deducted US$209,475 from the amount payable, in satisfaction of the Tribunal's cost order included in the Award, and paid US$25,588,525 to SASL as a final settlement amount for the Award and for the transfer of the Data by the Company to Bolivia. In accordance with the Class B Share provisions, after taking into account (a) the costs and expenses of the international arbitration proceedings, which include the amount payable to the third party funder of the arbitration (the "Fund") pursuant to the terms of the litigation funding agreement; (b) TMI's reimbursement for arbitration expenses that were paid by the Company and which were not covered by the Fund; and (c) the value of the Data transferred to Bolivia, the total redemption amount in respect of all of the Class B Shares is approximately US$11.436 million. As there are 116,375,152 Class B Shares issued and outstanding, the Class B Redemption Amount equals US$0.09827.

In accordance the Class B Share provisions, the Company will be redeeming all of the issued and outstanding Class B Shares on November 4, 2019 (the "Redemption Date") for an amount equal to the Class B Redemption Amount. On and after the Redemption Date, Class B shareholders will cease to be holders of Class B Shares and will not be entitled to exercise any of the rights of holders in respect thereof, other than the right to receive the Class B Redemption Amount for their Class B Shares.

The Company has sent to each registered Class B shareholder a letter of transmittal containing detailed instructions about the redemption process. Each Class B shareholder will need to sign, complete and return the letter of transmittal to AST Trust Company (Canada) ("AST"), the registrar and transfer agent for the Class B Shares, along with the certificate representing such holder's Class B Shares, in order to receive the Class B Redemption Amount.

About TriMetals Mining Inc.

TriMetals Mining Inc. (TSX: TMI and TMI.B, OTCQB: TMIAF and TMIBF) is a growth-focused gold exploration company creating value through the exploration and development of the near-surface Gold Springs gold-silver project in mining-friendly Nevada and Utah, U.S.A. The Company's Class B shares are listed on the Toronto Stock Exchange under the stock symbol "TMI.B" and on the OTCQB under the stock symbol TMIBF and have no interest in the properties or assets of the Company other than the collective entitlement to 85% of the net cash (after deducting all costs, taxes and expenses and the amount due to a third party that funded the costs of the arbitration), received by the Company from an award or settlement in relation to South American Silver's arbitration proceeding against Bolivia for the expropriation of the Malku Khota project in 2012.

CONTACT:

TriMetals Mining Inc.
Matias Herrero
Chief Executive Officer
mherrero@trimetalsmining.com

SOURCE: TriMetals Mining Inc.



View source version on accesswire.com:
https://www.accesswire.com/562013/TriMetals-Mining-Announces-Class-B-Share-Redemption-Process-and-Redemption-Amount

TriMetals Completes the Sale of Escalones to Wealth Copper
Press Release | 09/27/2019
VANCOUVER, BC / ACCESSWIRE / September 27, 2019 / TriMetals Mining Inc. (TSX:TMI) (OTCQB:TMIAF) (the "Company" or "TMI") is pleased to announce that, further to its news releases of June 3, 2019, April 5, 2019 and December 4, 2018, it has closed yesterday the transaction (the "Escalones Transaction") with Wealth Minerals Ltd. ("Wealth") and its wholly-owned subsidiary, Wealth Copper Ltd. ("Wealth Copper"), pursuant to which Wealth Copper acquired 100% of TMI's interest in the mineral exploitation and exploration concessions and related assets that comprise the Escalones copper-gold porphyry project in Chile (the "Escalones Project").

Matias Herrero, President & CEO of TMI commented, "With the completion of the sale of the Escalones copper project to Wealth Copper, we have reached another important milestone in the Company. All efforts and attention to create value for the Company can now be focused on exploring and adding to the mineral resources of the Gold Springs project in southern Utah and Nevada. We are also becoming a leaner, more competitive, gold-focused company". Mr. Herrero also added "We are very pleased to be an important shareholder of Wealth Copper and to leverage Wealth Copper's technical and financial expertise to advance the exploration and development of the Escalones Project. We wish them success with their exploration plans".

As consideration for the Escalones Project, Wealth Copper (i) issued 25,000,000 common shares in its capital (each, a "Wealth Copper Share") to TMI, (ii) will pay TMI Cdn$1,000,000 in cash, of which Cdn$150,000 has already been paid, and (iii) granted TMI a 2% NSR royalty on the Escalones Project (See Press release dated June 3, 2019 for details on this royalty).

Wealth Copper is to pay the remaining Cdn$850,000 of the cash portion of the purchase price as follows: (a) Cdn$350,000 upon the closing of the Concurrent Financing (as defined below); and (b) Cdn$500,000 on the 12-month anniversary of closing of the Concurrent Financing.

The Wealth Copper Going-Public Transaction

Wealth Copper entered into a letter of intent with Allante Resources Ltd. (ALL.H) ("Allante" and after the closing of the Going-Public Transaction, the "Resulting Issuer") dated June 7, 2019 in respect of the Going-Public Transaction, whereby Allante will acquire, in a reverse take-over transaction, all of the issued and outstanding Wealth Copper Shares and continue the business of Wealth Copper in exchange for the issuance of common shares in the capital of Allante to the Wealth Copper shareholders on a one (1) for one (1) basis (the "Going-Public Transaction") (see Allante's new release dated June 13, 2019) which is expected to be completed in Q4 2019.

Concurrently with or prior to the closing of the Going-Public Transaction, Wealth Copper and/or Allante has to complete private placement financings to raise an aggregate of at least Cdn$5,000,000 (the "Concurrent Financing"), of which, at closing of the Escalones Transaction, Wealth Copper has already raised approximately Cdn$814,000 with the issuance of 8,140,000 Wealth Copper Shares at a price of Cdn$0.10 per Wealth Copper Share.

At closing of the Escalones Transaction, the 25,000,000 Wealth Copper Shares held by TMI represent 42.6% of the total issued and outstanding Wealth Copper Shares. TMI's ownership interest in the Resulting Issuer is not to be less than 30% immediately after giving effect to the Going-Public Transaction and the Concurrent Financing and TMI is to be granted the right to participate in future equity financings of the Resulting Issuer to allow TMI to maintain up to its pro rata ownership interest in the equity capital of the Resulting Issuer. In addition, following closing of the Going-Public Transaction, TMI and Wealth will each be granted the right to nominate one director to the board of directors of the Resulting Issuer for so long as each holds at least 20% of the issued and outstanding shares of the Resulting Issuer.

Pursuant to a letter agreement (the "Side Letter") entered into among Wealth and TMI, the parties to the Side Letter agreed to restrict the extent of their ability to transfer or sell shares held by them in the capital of Wealth Copper (or the Resulting Issuer) until the earlier of (i) the fifth anniversary of the closing date of the Escalones Transaction or (ii) the first date after such closing date on which either Wealth or TMI, directly or indirectly, cease to beneficially own more than 5% of the issued and outstanding common shares in the capital of Wealth Copper (or the Resulting Issuer).

Cristal Project

Wealth Copper also acquired from a third-party (New Energy Metals Corp.) an interest in and to the mineral exploitation concessions comprising the Cristal copper project, located in Region XV of Arica and Parinacota, Chile (the "Cristal Project"). The Cristal Project is a porphyry copper target located in northern Chile, near the Bolivia/Chile border and comprises 9 km2 of exploitation concessions.

About TriMetals Mining Inc.

TriMetals Mining Inc. (TSX: TMI and OTCQB: TMIAF) is a growth-focused gold exploration company creating value through the exploration and development of the near-surface Gold Springs gold-silver project in mining-friendly Nevada and Utah, U.S.A.

TriMetals Mining Inc. Contact:

Matias Herrero
Chief Executive Officer
mherrero@trimetalsmining.com

Forward-looking Statements

Certain statements contained herein constitute "forward-looking information" under applicable Canadian securities laws ("forward-looking statements"). Forward-looking statements look into the future and provide an opinion as to the effect of certain events and trends on the business. Forward-looking statements may include words such as "shall", "will", "expected" and similar expressions and include the expected closing of the Going Public Transaction and Concurrent Financing. These forward-looking statements are based on current expectations and entail various risks and uncertainties. Actual results may materially differ from expectations if known and unknown risks or uncertainties affect our business or if our estimates or assumptions prove inaccurate. Factors that could cause results or events to differ materially from current expectations expressed or implied by the forward-looking statements, include, but are not limited to risks more fully described in the Company's Annual Information Form and continuous disclosure documents, which are available on SEDAR at www.sedar.com.

Readers are cautioned not to place undue reliance on the forward-looking statements contained in this press release. Except as required by law, the Company assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason. Unless otherwise indicated, forward-looking statements in this press release describe the Company's expectations as of the date hereof.

SOURCE: TriMetals Mining Inc.



View source version on accesswire.com:
https://www.accesswire.com/561241/TriMetals-Completes-the-Sale-of-Escalones-to-Wealth-Copper

Nice gap to the top of trend.

GLTA
TrendTrade2016

Strong weekly trend in the works here. Target 30c

GLTA
TrendTrade2016

News letter

http://www.otcmarkets.com/stock/TMIAF/news/TriMetals-Mining-Inc---A-Letter-to-the-Shareholders?id=124976&b=y

Not in just watchinng.

huge move

Yep what?

thanks.

Hi, I'm new here, and looking for perspectives on this company from other metals investors/ traders. Any opinions would be welcome..

Thanks in advance.

Shy-

TIAMF: TriMetals Mining Inc. (Formerly South American Silver Corp.) Files Annual 2013 Financial Statements and MD&A

http://www.otcmarkets.com/stock/TMIAF/news/TriMetals-Mining-Inc---Formerly-South-American-Silver-Corp---Files-Annual-2013-Financial-Statements-and-MD-amp-A?id=77731

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 20, 2014) - TriMetals Mining Inc. (formerly South American Silver Corp.) (TSX:TMI)(TSX:TMI.B)(OTCQX:TMIAF) reports the release of its audited consolidated financial statements for the year ended December 31, 2013 and the related management's discussion and analysis of financial position and results of operations ("MD&A"). In this press release, all amounts are expressed in U.S. dollars, unless otherwise indicated.

The estimated working capital requirements for 2014, per the Company's existing plan, amount to $5,200,000 of which $2,550,000 are for general and administrative expenses (operating activities) and $2,650,000 for investing activities which mainly include exploration work in Gold Springs, Escalones and San Antonio projects. As at December 31, 2013, the Company had working capital of $10,415,697, including cash and cash equivalents of $11,921,723. As a consequence, the Company remains in a strong financial position to meet its working capital requirements for 2014 and to continue activities at its Escalones and Gold Springs projects and to pursue other corporate initiatives.

The Company's priorities for 2014 are to (i) diligently continue managing and preserving the Company's cash resources; (ii) continue international arbitration proceedings against Bolivia to recover full compensation based on the fair market value for the Malku Khota project; (iii) seek an appropriate joint venture partner for the Escalones copper-gold porphyry project in Chile whilst continuing permitting activities and metallurgical testing and analyzing existing data and core samples; and (iv) review the economic potential of the Gold Springs gold project to help determine if it should proceed along the engineering/development curve or continue the exploration phase to further expand the estimated resource, whilst continuing permitting activities and metallurgical testing and completing a NI 43-101 compliant Preliminary Economic Assessment (PEA).

Further details including the full financial statements and MD&A and information on each of the Company's projects, including the recently acquired Gold Springs Gold Project in Nevada/Utah, are available on the Company's website at www.trimetalsmining.com and on SEDAR at www.sedar.com.

Acquisition of High Desert Gold Corporation - Gold Springs, Nevada

On December 20, 2013 the Company acquired all of the issued and outstanding shares of High Desert Gold Corporation ("HDG") that it did not already own in an all-share transaction by way of a plan of arrangement (the "Arrangement") (See News Release NR 13-25 dated December 20, 2013).

The Company now holds a 100% interest in the 74 square kilometre Gold Springs gold project located in western Utah and eastern Nevada. HDG completed 56 drill holes at Gold Springs in 2012 and an additional 55 holes in the 2013 drill program. On February 26, 2014, the Company announced the completion of an updated resource estimate for the Jumbo and Grey Eagle Zones (NR 14-02, February 26, 2014) and On March 19, 2014, the Company filed a NI 43-101 Technical Report(1) that includes the updated 2014 resource (NR 14-05, March 19, 2014). The updated 2014 resource includes measured, indicated and inferred resource categories in comparison to the prior resource of 2013 which only included resources in the inferred category.

The gold-silver mineralization, at both the Jumbo and Grey Eagle Zones, remains open to expansion laterally and to depth as the drilling to date has typically only penetrated the top 150 metres vertically below the surface at Jumbo, and 200 metres below the surface at Grey Eagle. The ZTEM geophysical survey, completed in 2011, indicates that the gold-silver bearing geological/geophysical setting that has been drilled at the Jumbo may continue for approximately 8 kilometres along strike, much of which remains untested.

The exploration budgeted at Gold Springs for 2014 is $1,400,000 which includes, among other things, preparation of a preliminary economic assessment (PEA) to help the Company determine if it should proceed along the engineering/development curve or continue the exploration phase to further expand the resource, continuation of permitting activities including environmental and cultural studies, completion of a NI 43-101-compliant Technical Report that includes the updated 2014 resource, metallurgical test-work and other limited exploration activities.

Escalones, Chile

The Company believes that it needs a partner to develop this project due to its large size. Companies have been approached to gauge their level of interest in joint venturing the property. Reviews are ongoing.

The budgeted exploration at Escalones for 2014 amounts to $1,000,000 which includes further analysis of existing data and core samples, the continuation of environmental and permitting activities and metallurgical testing, and a $500,000 payment under its Option Agreement.

On May 2, 2013 the Company completed its drilling program at Escalones copper-gold project in Chile, with a total of 9,070 metres of drilling completed. On August 12, 2013, the Company filed a NI 43-101 Technical Report(2) that includes an updated resource estimate for Escalones (See News Releases 13-13 dated June 28, 2013 and 13-17 dated August 12, 2013) showing a significant increase in copper, molybdenum and gold resources as well as a category upgrade of approximately a third of the resource to Indicated from Inferred.

Malku Khota, Bolivia

Immediately prior to the acquisition of HDG, each shareholder of the Company received one TMI new Common Share and one TMI Class B Share for each common share previously held. The Class B Shares entitle the holders collectively to 85% of the net cash, if any, (after deducting all costs, tax and expenses and the third party funder's portion thereof) received from an award or settlement in relation to South American Silver Limited's arbitration proceeding against Bolivia following the expropriation of the Malku Khota project.

The Company continues to advance before the Permanent Court of Arbitration its international arbitration proceedings against Bolivia for the expropriation of the Malku Khota project. The three-person arbitration tribunal was formed on January 22, 2014 (See News Release 14-01 dated February 3, 2014). The tribunal next step is to set up a provisional timetable for the arbitration itself. This will include a schedule for submission of a Statement of Claim which South American Silver Limited expects to submit in 2014, a Statement of Defense and oral hearings at the court of arbitration. Unless there is a negotiated settlement of the dispute, it is expected that the arbitration can take up to several years from commencement of proceedings until rendering of a final award, hence any actual cash award, if there is one, would not be expected for some time and not in 2014.

On May 23, 2013 the Company entered into an agreement (the "Arbitration Costs Funding Agreement") with a third party funder (the "Fund") pursuant to which the Fund will cover most of South American Silver Limited future costs and expenses related to its international arbitration proceedings against Bolivia on a non-recourse basis. The Company has given certain warranties and covenants to the Fund and has provided security for its obligations. In consideration for the funding, South American Silver Limited and the Company have agreed to pay to the Fund a portion of any recoveries received by South American Silver Limited from Bolivia. (See News Release NR 13-12 dated May 24, 2013 for more details).

About TriMetals Mining Inc.

TriMetals Mining Inc. is a growth focused mineral exploration company creating value through the exploration and development of the near surface, Gold Springs gold-silver project in mining friendly Nevada and Utah in the U.S.A.; the advancement of the large scale Escalones copper-gold project in Chile, and realization of value from the expropriated Malku Khota project in Bolivia through the arbitration process. South American Silver Limited is a company incorporated in the Bermuda Islands, an overseas territory of the United Kingdom, which through its wholly owned Bahaman subsidiaries: Malku Khota Ltd, G.M. Campana Ltd. and Productora Limited., owns 100% of the outstanding shares of Compañía Minera Malku Khota S.A., a Bolivian company, holder of the Malku-Khota mining concessions until their nationalization by the Bolivian Government. The Company's approach to business combines the team's track record of discovery and advancement of large projects, key operational and process expertise, and a focus on community relations and sustainable development. Management has extensive experience in the global exploration and mining industry. The Company's common shares and Class B shares are listed on the Toronto Stock Exchange under the symbols "TMI" and "TMI.B" and the common shares are listed on the OTCQX market under the symbols "TMIAF". Additional information related to TriMetals Mining Inc. is available at www.trimetalsmining.com and on SEDAR at www.sedar.com.

Forward-looking statements

Forward-looking statements look into the future and provide an opinion as to the effect of certain events and trends on the business. Forward-looking statements may include words such as "will", "next", "plan", "may", "budgeted", "proceed", ""continue", "further", "potential", "expected", "believes", "creating", "realization" and "pursue" and similar expressions. This News Release contains forward-looking statements. These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors.

Readers are cautioned not to place undue reliance on these statements as the Company's actual results, performance or achievements may differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements if known or unknown risks, uncertainties or other factors affect the Company's business, or if the Company's estimates or assumptions prove inaccurate. Therefore, the Company cannot provide any assurance that forward-looking statements will materialize. Factors that could cause results or events to differ materially from current expectations expressed or implied by the forward-looking statements, include, but are not limited to, uncertainties associated with the arbitration proceeding against Bolivia, including the quantum of damages to be obtained and the realization or collection of the value of any award or settlement; and risks of the mineral exploration industry which may affect the advancement of the Escalones or Gold Springs projects, including possible variations in mineral resources or grade, metal prices, availability of sufficient financing to fund further required work in a timely manner and on acceptable terms, timely receipt of required permits, availability of equipment and qualified personnel, failure of equipment or processes to operate as anticipated, road access to the property, changes in project parameters as plans continue to be refined; and other risks more fully described in the Company's Annual Information Form filed and publicly available on SEDAR at www.sedar.com. The assumptions made in developing the forward-looking statements include: the ability of the Company to realize value from its investments in Bolivia; the arbitration proceeding along a timeline consistent with other international arbitrations and the Fund honoring its contractual commitments, the accuracy of current resource estimates and the interpretation of drill, metallurgical testing and other exploration results; the timely receipt of required permits for Escalones and Gold Springs projects; the continuing support for mining by local governments in Nevada, Utah and Chile, the availability of equipment and qualified personnel to advance the Escalones and Gold Springs projects; and the execution of the Company's existing plans and further exploration and development programs for Escalones and Gold Springs Projects, which may change due to changes in the views of the Company or if new information arises which makes it prudent to change such plans or programs.

Subject to applicable laws, the Company assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason. Unless otherwise indicated, forward-looking statements in this News Release describe the Company's expectations as of March 20, 2014.

(1) Prepared by Ms. Terre Lane, President of Lane and Associates and Kurt Katsura, M.S., R.G, each a "qualified person" as defined in NI 43-101, and "independent" of the Company as defined in NI 43-10.

(2) Prepared by Jeffrey Choquette of Hard Rock Consulting, LLC and David Dreisinger of Dreisinger Consulting Inc.; each a "qualified person" as defined in NI 43-101 and "independent" of the Company as defined in NI 43-101,

TriMetals Mining Inc.
Ralph Fitch
President & CEO
303.584.0606
rfitch@soamsilver.com
TriMetals Mining Inc.
Matias Herrero
Chief Financial Officer
303.584.0606
mherrero@soamsilver.com
www.trimetalsmining.com

TIAMF Chart: "As at December 31, 2013, the Company had working capital of $10,415,697, including cash and cash equivalents of $11,921,723. As a consequence, the Company remains in a strong financial position to meet its working capital requirements for 2014 and to continue activities at its Escalones and Gold Springs projects and to pursue other corporate initiatives."

TriMetals Mining Inc. (Formerly South American Silver Corp.) Files Annual 2013 Financial Statements and MD&A

http://www.otcmarkets.com/stock/TMIAF/news/TriMetals-Mining-Inc---Formerly-South-American-Silver-Corp---Files-Annual-2013-Financial-Statements-and-MD-amp-A?id=77731

South American Silver Corp. changed to TriMetals Mining Inc.:

http://www.otcbb.com/asp/dailylist_detail.asp?d=03/18/2014&mkt_ctg=NON-OTCBB

NOTICE OF FINAL DECISION–Bureau of Mining Regulation and Reclamation
Web Posting: 02/18/2014
Gold Springs Exploration Project
Reclamation Permit 0352
https://ndep.nv.gov/docs_14/201402nofd_p.pdf

Really Surprised the way the split was executed-

South American Silver Corp. and High Desert Gold Corporation Complete Plan of Arrangement

20 December 2013, Vancouver, British Columbia-South American Silver Corp. ("SASC")(TSX: SAC, US OTCQX: SOHAF) and High Desert Gold Corporation ("HDG")(TSXV: HDG, US OTCQX: HDGCF, FWB: 7HD) are pleased to announce the completion of their previously announced statutory plan of arrangement under the Business Corporations Act (British Columbia) (the "Arrangement").

Under the Arrangement, SASC shareholders received one new SASC Common Share and one SASC Class B Share for each SASC common share previously held. The new SASC Common Shares carry voting, dividend and liquidation rights similar to SASC's former common shares. The Class B Shares carry redemption and retraction rights and rights on liquidation which entitle the holders collectively to 85% of the net cash, if any, (after deducting all costs, taxes and expenses and the third party funder's portion thereof)received by SASC from an award or settlement in relation to SASC's wholly-owned subsidiary South American Silver Limited's arbitration proceeding against the Plurinational State of Bolivia for the expropriation of the Malku Khota project. The Class B Shares are non-voting and non-participating in regards to dividends and on liquidation other than as described above.

Also under the Arrangement, HDG shareholders (other than SASC) received 0.275 of a new SASC Common Share for each HDG common share previously held.

In order to receive certificates for the new SASC Common Shares and SASC Class B Non-Voting Shares, as applicable, registered shareholders of SASC and HDG must deliver a properly completed letter of transmittal and certificates representing their shares to CST Trust Company ("CST") at the address specified in the letters of transmittal. The letters of transmittal were mailed to the registered shareholders on November 14, 2013 and are also available under applicable company's profile on SEDAR at www.sedar.com or by contacting CST directly. The letters of transmittal are for use by registered shareholders only and not to be used by non-registered beneficial shareholders of SASC or HDG. A beneficial shareholder does not hold its shares in its own name but such shares are held by an intermediary. If you are a beneficial shareholder you should contact your intermediary (typically a broker) for instructions and assistance.

Pursuant to the Arrangement, all outstanding HDG options and warrants are now exercisable to acquire SASC Common Shares, with the number of SASC Common Shares and exercise price adjusted, as appropriate, to reflect the consideration to be received by the HDG Shareholders pursuant to the Arrangement. Also, all outstanding SASC options and warrants have been adjusted and are now each exercisable to acquire one new SASC Common Share and one SASC Class B Non-Voting Share instead of a common share at the same exercise price.

The Toronto Stock Exchange has conditionally approved the Arrangement including the listing of the Class B Shares to be issued thereunder, with the new common shares and Class B Shares of South American Silver Corp. to commence trading on the TSX at the open of markets on Tuesday, December 24, 2013. Until the close of markets on Monday, December 23, 2013 the common shares of SASC and HDG will continue to trade on the TSX and TSX Venture Exchange, respectively. Following the delisting of HDG from the TSX Venture Exchange, SASC intends to cause HDG to apply to the relevant securities commissions for HDG to cease to be a reporting issuer under Canadian securities laws.

For further details about the Arrangement, please see the management information circulars of SASC and HDG each dated November 7, 2013 and the press releases of SASC and HDG dated October 21, 2013, December 9, 2013 and December 19, 2013, each of which is available on SEDAR at www.sedar.com.

Early Warning Reporting

As a result of the Arrangement, SASC acquired ownership over 70,763,900 HDG common shares, representing 81.5% of the total issued and outstanding HDG common shares and now owns 86,840,900 HDG common shares, representing 100% of the total issued and outstanding HDG common shares.

SASC issued 19,460,072 new SASC Common Shares to the former shareholders of HDG in exchange for 70,763,900 HDG common shares. SASC acquired the HDG common shares to combine HDG's business with SASC's business. An arrangement under a statutory procedure is a prospectus exempt distribution under National Instrument 45-106.

About South American Silver Corp.

South American Silver Corp. is a growth focused mineral exploration company creating value through the exploration and development of the large scale Escalones copper-gold project in Chile, the pursuit of new opportunities and the realization of value from the Malku Khota project in Bolivia. SASC's approach to business combines the team's track record of discovery and advancement of large projects, key operational and process expertise, and a focus on community relations and sustainable development. Management has extensive experience in the global exploration and mining industry. Additional information related to South American Silver Corp. is available at www.soamsilver.com and on SEDAR at www.sedar.com. SASC's address is Suite 880 - 580 Hornby Street, Vancouver, British Columbia, V6C 3B6.

About High Desert Gold Corporation

High Desert Gold Corporation is a mineral exploration company that acquires and explores mineral properties, primarily gold, copper and silver, in North America. The major properties held by HDG are the 100% owned Gold Springs gold project situated along the border between Utah and Nevada and the San Antonio project in Sonora, Mexico. HDG also has a 26.8% equity interest in Highvista Gold Inc that owns the Canasta Dorada property in Sonora, Mexico. There has been insufficient exploration to define a property-wide mineral resource at Gold Springs and it is uncertain if further exploration will result in the targets at Gold Springs being delineated as a mineral resource. Additional information related to High Desert Gold Corporation is available at www.hdggold.com and on SEDAR at www.sedar.com

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this new release.

For further information contact:

Ralph Fitch
Ralph Fitch
President & CEO
303.584.0608 Richard Doran
Richard Doran
Investor Relations
303.584.0608

Forward-looking statements

Certain statements contained herein constitute "forward-looking statements". Forward-looking statements look into the future and provide an opinion as to the effect of certain events and trends on the business. Forward- looking statements may include words such as "will", "expected", "creating", "development", "pursuit", "realization" and similar expressions. Information concerning mineral resource estimates may also be considered forward-looking statements as such information constitutes a prediction of what mineralization might be found to be present if and when a mining project is actually developed. These forward- looking statements are based on current expectations and entail various risks and uncertainties

Actual results may materially differ from expectations, if known and unknown risks or uncertainties affect our business, or if our estimates or assumptions prove inaccurate. Factors that could cause results or events to differ materially from current expectations expressed or implied by the forward-looking statements, include, but are not limited to, possible variations in mineral resources, grade, metal prices; availability of further financing to fund planned or further required work in a timely manner and on acceptable terms; changes in project parameters as plans continue to be refined; failure of equipment or processes to operate as anticipated; uncertainties associated with the arbitration proceeding against Bolivia, including the quantum of damages to be obtained and the realization or collection of the value of any award or settlement; regulatory, environmental and other risks of the mining industry more fully described in HDG's Management Discussion & Analysis of Financial Position and Results of Operations and SASC's Annual Information Form, which are available on SEDAR at www.sedar.com. The assumptions made in developing the forward-looking statements include: the accuracy of current resource estimates and the interpretation of drill, metallurgical testing and other exploration results; Nevada and Utah continuing to be pro-mining states; the availability of equipment and qualified personnel to advance the Gold Springs and Escalones projects; execution of existing plans and further exploration and development programs for Gold Springs and Escalones, which may change due to changes in the views of management or if new information arises which makes it prudent to change such plans or programs.

Readers are cautioned not to place undue reliance on the forward-looking statements contained in this news release. Except as required by law, neither SASC nor HDG assumes any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason. Unless otherwise indicated, forward-looking statements in this news release describe the expectations of SASC and HDG as of December 20, 2013.

This is not an offer of securities for sale in the United States, and such securities may not be offered or sold in the United States absent registration or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from SASC and will contain detailed information about the company and management, as well as financial statements. SASC does not intend to register any part of the present or proposed offering of securities in the United States.



RECENT NEWS

December 20, 2013
South American Silver Corp. and High Desert Gold Corporation Complete Plan of Arrangement
December 19, 2013
South American Silver Corp. and High Desert Gold Corporation receive final court approval for plan of arrangementDOWNLOAD PDF
December 9, 2013
South American Silver Corp. Shareholders Approve Plan of ArrangementDOWNLOAD PDF
December 3, 2013
South American Silver Provides Corporate UpdateDOWNLOAD PDF
December 2, 2013
South American Silver Announces Appointment of New President and CEODOWNLOAD PDF


futr

SOHAF: Plan of Arrangement. The foregoing results from a recently effected plan of arrangement of the Company under the Business Corporations Act (British Columbia) pursuant to which, among other things, each of the Common Shares will be exchanged for one class A share and one class B non-voting share. As the final step of the Arrangement, each Class A Share will be redesignated as a New Common Share. Fractional New Common Shares will not be issued pursuant to the Arrangement. Fractional interests will be rounded down to the next whole number of New Common Shares.

http://www.otcbb.com/asp/dailylist_detail.asp?d=12/23/2013&mkt_ctg=NON-OTCBB

Congratulations! Nice going. I am tied up in other plays at the moment, but this is still on my radar.

Nice Action Here Today!

Glad I tripled down on the merger announcement!

Snooze you lose! lol

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Shareholder Meeting Dec.9 2013-

http://ih.advfn.com/p.php?pid=nmona&article=60230901&symbol=SOHAF

futr

Yep.

21 October 2013, Vancouver, British Columbia-South American Silver Corp. (TSX: SAC, US OTCQX: SOHAF) is pleased to announce that it has entered into an arrangement agreement (the "Agreement") pursuant to which South American Silver Corp. ("SASC") will acquire all of the issued and outstanding shares of High Desert Gold Corporation ("HDGC") that it does not already own in an all-share transaction by way of a plan of arrangement (the "Arrangement"). HDGC shareholders (other than SASC) will receive 0.275 of a SASC Class A Share for each HDGC share they hold. SASC currently owns 16,077,000 common shares of HDGC (18.5% on an undiluted basis). Upon completion of the Arrangement, SASC shareholders and HDGC shareholders will own approximately 85.6% and 14.4%, respectively, of the Class A Shares of the post-Arrangement entity.

As part of the Arrangement, immediately prior to the acquisition of HDGC, SASC will spin out to its shareholders, Class B Shares which entitle the holders collectively to 85% of the net cash proceeds received from any award or settlement in connection with the ongoing dispute with Bolivia related to its expropriation of the Malku Khota Project.

Completion of the Arrangement is subject to a number of conditions, including the receipt of the requisite approval of the shareholders of HDGC and the shareholders of SASC, the approval of the Supreme Court of British Columbia and stock exchange approval. See "Details of the Arrangement" below.

As part of the acquisition of HDGC, SASC will obtain a 100% direct interest in HDGC's Gold Springs project, located along the Nevada/Utah border. Gold Springs is a new development gold-silver district, with a total land package of 74km2 which HDGC has been exploring. An initial Inferred resource has been announced at Gold Springs (See HDGC PR13-07, March 28, 2013) and additional drilling in 2013 has expanded the mineralized zones beyond the footprint of the reported resource. The Inferred resource, which is based on only two of eighteen identified targets at Gold Springs, is summarized in the table below:



Cut-off Grade



Gold

Silver

Gold Equivalent AuEq

(AuEq)

Tonnes

Grade (g/t)

Troy Ounces

Grade (g/t)

Troy Ounces

Grade (g/t)

Troy Ounces

0.3 g/t

19,373,085

0.48

301,756

10.4

6,476,149

0.67

415,254


1 AuEq means gold-equivalent. AuEq calculations for Gold Springs reflect gross metal content using a metal price ratio of 57.14 Au/Ag and have not been adjusted for metallurgical recoveries.

In announcing the proposed merger, Phillip Brodie-Hall, President and CEO of South American Silver Corp., commented:

"This is an excellent development for both companies. It puts South American Silver back into precious metals through the acquisition of the Gold Springs gold-silver project. Gold Springs straddles the border of Utah and Nevada, both of which are pro-development, safe, mining-friendly states. Gold Springs is an outcropping, near-surface gold-silver deposit which early metallurgical test-work suggests will produce material that is amenable to heap leaching. This all means that, should the Gold Springs deposit prove economic after further exploration and engineering studies, it could be brought into production relatively quickly with minimal technical risk and at reasonable capital costs. I am very excited about this opportunity."
Ralph Fitch, President, CEO and Chairman of High Desert Gold Corporation went on to say:

"I, too, am very excited about this opportunity and agree that this is an excellent development for both companies. It provides HDGC shareholders with the financial resources to have a continuing interest in this important, developing exploration property as well as exposure to the other major assets of SASC. Gold Springs' exploration and development will be the immediate focus of the merged company and will be achievable through the availability of funding and the existing exploration team. This year's drilling at Gold Springs has been very successful in expanding the footprint of mineralization in the Grey Eagle target to beyond the limits of the reported resource. Now with the additional funding we will be able to continue this expansion and move towards developing a PEA and an updated, expanded resource in the near term."

The Arrangement also gives SASC's shareholders, immediately prior to the acquisition of HDGC, a potentially significant new benefit in the form of a Class B Share for each existing share of SASC. The holders of these new shares will collectively receive 85% of the net cash proceeds (after costs, including applicable taxes, and the third party funder's portion of any award or settlement) that is received from any arbitration award or settlement in favour of South American Silver Ltd. arising from the Bolivian government's expropriation of the Malku Khota project in 2012. A Preliminary Economic Assessment published in 2011 (see SASC NR11-03, dated 31 March, 2011) reported pre-tax NPV at a 5% discount rate of $704 million at "base case" silver price of $18.00/oz silver, increasing to a NPV5% of $1.536 billion at the "middle price case" of $25.00/oz silver.

Management of the combined company will be led by Ralph Fitch, as President and CEO, with a management team comprised of Matias Herrero (Chief Financial Officer), Randy Moore (EVP of Exploration - North America) and Felipe Malbran (EVP of Exploration - South America).

Details of the Arrangement
The proposed transactions will be carried out by way of a plan of arrangement under the Business Corporation Act (British Columbia). (the "BCBCA"). Prior to implementing the Arrangement, each of SASC and HDGC will become subject to the BCBCA via a continuance under corporate law, exporting from the Canada Business Corporations Act which currently governs each of SASC and HDGC.

Under the Arrangement, immediately prior to the exchange of the outstanding securities of HDGC for securities of SASC, each SASC shareholder will exchange each of its SASC common shares for one SASC Class A Share and one SASC Class B Share. The Class A Shares will carry voting, dividend and liquidation rights similar to SASC's current common shares, while the Class B Shares will be non-voting and non-participating in regards to dividend and liquidation rights.

Post Arrangement, each pre-Arrangement outstanding SASC option and warrant will be exercisable to acquire one SASC Class A Share and one SASC Class B Share instead of a common share at the same exercise price.

HDGC shareholders (other than SASC) will be issued a total of 19.46 million Class A Shares in exchange for their HDGC common shares, representing approximately 14.4% of the Class A Shares outstanding after the Arrangement. All outstanding HDGC's options and warrants will be replaced or assumed by SASC and exercisable to acquire SASC Class A Shares with the number of SASC Class A Shares and exercise price proportionately adjusted to reflect the consideration to be received by the HDGC shareholders pursuant to the Arrangement.

Implementation of the Arrangement is subject to a number of conditions, including approval by at least 66 2/3% of the votes cast, together with minority approval, by shareholders of HDGC and approval by at least 66 2/3% of the votes cast by shareholders of SASC, in each case at separate special meetings of such shareholders that are expected to be held in December 2013, approval of the Supreme Court of British Columbia, approval of the Toronto Stock Exchange and the TSX Venture Exchange, completion of definitive closing documentation and such other conditions as are customary for a transaction of this nature. There can be no assurance that such conditions will be met and if they are not met or waived the Arrangement will not be implemented.

The Agreement also provides for, among other things, customary board support and non-solicitation covenants from HDGC (subject to "fiduciary out" provisions that entitle HDGC to consider and accept a superior proposal and a right in favour of SASC to match any superior proposal). The Agreement also provides for the payment of a termination fee to SASC of $250,000 should HDGC accept an unsolicited superior proposal and terminate the Agreement.

The Board of Directors of SASC has received an opinion from GMP Securities L.P., its financial advisor, that as of the date of the Agreement, subject to the assumptions, limitations and qualifications described therein, the Arrangement is fair, from a financial point of view, to SASC's shareholders. The Board of Directors of SASC is recommending that SASC shareholders vote in favour of the Arrangement.

Advisors
GMP Securities L.P. is acting as financial advisor to SASC and its board of directors. Gowling Lafleur Henderson LLP is acting as legal advisor to SASC.

About South American Silver Corp.
South American Silver Corp. is a growth focused mineral exploration company creating value through the exploration and development of the large scale Escalones copper-gold project in Chile, the pursuit of new opportunities and the realization of value from the Malku Khota project in Bolivia. The Company's approach to business combines the team's track record of discovery and advancement of large projects, key operational and process expertise, and a focus on community relations and sustainable development. Management has extensive experience in the global exploration and mining industry. Additional information related to South American Silver Corp. is available at www.soamsilver.com and on SEDAR at www.sedar.com.

South American Silver Corp. Contact
Phillip Brodie-Hall Richard Doran

President & CEO Investor Relations
Phone: 604.681.6926 303.584.0608

Toll Free: 1.855.681.6926 www.soamsilver.com

Forward-looking Statements

Certain statements contained herein constitute "forward-looking statements". Forward-looking statements look into the future and provide an opinion as to the effect of certain events and trends on the business. Forward-looking statements may include words such as "will", "proposed", "potentially", "could", "continuing", "developing", "expansion", "near term", and similar expressions. Information concerning mineral resource estimates may also be considered forward-looking statements as such information constitutes a prediction of what mineralization might be found to be present if and when a mining project is actually developed. These forward- looking statements are based on current expectations and entail various risks and uncertainties.
Actual results may materially differ from expectations, if known and unknown risks or uncertainties affect our business, or if our estimates or assumptions prove inaccurate. Factors that could cause results or events to differ materially from current expectations expressed or implied by the forward-looking statements, include, but are not limited to, failure to obtain the requisite approvals for the continuance of HDGC and SASC under the BCBCA; failure to obtain the requisite shareholder, court and stock exchange approvals for the Arrangement or other conditions of the Arrangement not being met or waived; the receipt by HDGC of a competing or superior proposal for an alternative transaction; the business of HDGC not being integrated successfully into SASC; possible variations in mineral resources, grade, metal prices; availability of further financing to fund planned or further required work in a timely manner and on acceptable terms; changes in project parameters as plans continue to be refined; failure of equipment or processes to operate as anticipated; uncertainties associated with the arbitration proceeding against Bolivia, including the quantum of damages to be obtained and the realization or collection of the value of any award or settlement; regulatory, environmental and other risks of the mining industry more fully described in HDGC's Management Discussion & Analysis of Financial Position and Results of Operations and SASC's Annual Information Form, which are available on SEDAR at www.sedar.com. The assumptions made in developing the forward-looking statements include: receipt of approval by the shareholders of each of HDGC and SASC to continue under the BCBCA; receipt of all other necessary approvals (including shareholder, court and stock exchange approvals) for the Arrangement and satisfaction or waiver of all conditions required by the Arrangement; the accuracy of current resource estimates and the interpretation of drill, metallurgical testing and other exploration results; Nevada and Utah continuing to be pro-mining states; the availability of equipment and qualified personnel to advance the Gold Springs and Escalones projects; execution of existing plans and further exploration and development programs for Gold Springs and Escalones, which may change due to changes in the views of management or if new information arises which makes it prudent to change such plans or programs.

Readers are cautioned not to place undue reliance on the forward-looking statements contained in this news release. Except as required by law, SASC assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason. Unless otherwise indicated, forward-looking statements in this news release describe SASC's expectations as of October 21, 2013.

futr

Latest Corporate Presentation-

http://www.soamsilver.com/upload/corp-presentation/SAC_Presentation_August_2013.pdf

futr

Looks great!

Huge move here over the past couple of months!

futr

~ $SOHAF ~ Parabolic SAR Buy Signals ~ Criteria alert for last trading session!

$SOHAF has just triggered the "Parabolic SAR Buy Signals" scan criteria at Stockcharts.com
~ http://tinyurl.com/SAR-BUY ~







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Search FaStlane's "Parabolic SAR Buy Signals" posts: ~ http://investorshub.advfn.com/boards/msgsearchbymember.aspx?searchID=251916&srchyr=2011&SearchStr=ParSarBuyScan ~
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21 January 2013, Vancouver, British Columbia-
South American Silver Intersects Secondary Copper Enrichment Mineralization at the Escalones Porphyry Copper-Gold Project in Chile



21 January 2013, Vancouver, British Columbia-South American Silver Corp. (TSX: SAC, US OTCQX: SOHAF) (the "Company") is pleased to announce an update on drilling progress at the Escalones copper-gold porphyry project in Chile. The Company now has 3 diamond drills on the site and the first two holes have been completed. Results have been received for part of the first hole of this program. Hole 36 was drilled in the western part of the Meseta into porphyry style mineralization (see map: http://www.soamsilver.com/january-2013-news-release-escalones-image.asp). Below the glacial moraine the hole continued in partially leached bedrock with enhanced gold values. This is underlain by a mixed zone including both primary and secondary copper sulphides and copper oxides. The best 2 metres average 3.04% copper with 0.13 g/t gold. The better secondary enrichment averaged as follows:

0.99% copper with 0.15 g/t gold and 2 g/t silver over 27 metres

including

2.23% copper with 0.14 g/t gold and 1.4 g/t silver over 6 metres

This intercept continues for a total of 124 metres and averages 0.51% copper with 0.13 g/t gold and 1.1 g/t of silver which equates to a copper equivalent (CuEq*) of 0.62%. The entire mineralized interval to 358 metres averages 0.5% CuEq*. The remainder of the hole will be reported once assays are received.

Ralph Fitch, Executive Chairman of the Company stated "The significance of this intercept is that it represents the development of excellent grade mixed primary and secondary copper enrichment mineralization which previously we thought had mostly been eroded by the glacier that covered this area. If we can continue to expand this style of mineralization in other parts of the Meseta it will greatly enhance our previously reported 0.41% copper resource of 3.8 billion pounds (see December 19, 2011 News Release). It is also important that drill hole ES-36 was drilled into similar porphyry style mineralization from which the excellent 25% to 34% copper concentrates were produced in our previously reported laboratory tests (see December 10, 2012 News Release). The overlying partially leached rock also contains interesting gold values of 0.26 g/t gold with 1.5 g/t silver, a grade that could be sufficient to pay for stripping a potentially important economic benefit for the project."

The following table lists the results received to date for diamond drill hole ES 36:

From
To
Length
Copper
Molybdenum
Gold
Silver
CuEq*

metres
metres
metres
%
g/t
g/t
g/t
%

72.1
120.0
47.9
0.07
20.7
0.259
1.5
0.27

120.0
358.2
238.2
0.41
32.6
0.103
0.6
0.50

including








120.0
244.0
124.0
0.51
29.7
0.134
1.1
0.62

including








129.0
156.0
27.0
0.99
39.0
0.148
2.0
1.13

including








129.0
135.0
6.0
2.23
43.3
0.137
1.4
2.35


*copper equivalent -see end of PR



Escalones Drill Program:

Three diamond drills are now on-site as part of a substantial exploration program for the 2013 season, with the expectation that 10,000 metres will be drilled prior to the southern winter. At least six holes will be drilled in the Meseta area with a view to expanding the resource around ES 36 and the majority of the remainder will be drilled on the east side of the Meseta into the skarn mineralization with a view to expanding the resource to the East.

About Escalones:

The Escalones copper-gold project is approximately 100 km southeast of Santiago, Chile and 35 km east of El Teniente, the world's largest underground copper mine. Escalones, as previously announced and supported by a NI 43-101 technical report, contains a defined Inferred Resource of 420 million tonnes of mineralized material containing 3.8 billion lbs of copper, 56.9 million lbs of molybdenum, 610,000 ozs of gold and 16.8 million ozs of silver at a grade of 0.41% copper, 0.05 g/t gold, 1.24 g/t silver and 61 ppm molybdenum using a 0.2% copper equivalent cut-off grade. (see December 19, 2011 News Release). The detailed NI 43-101 Technical Report is available on SEDAR under the Company's profile and on the Company's website at www.soamsilver.com

Metallurgical testwork on Escalones material completed at SGS Laboratories in Ontario has shown positive results. The standard sulphuric acid leach test achieved average copper extraction of 77% from mixed copper oxide/sulphide mineralization. Copper flotation is also proving successful and rougher/cleaner flotation testing of the porphyry material achieved 25-34% copper concentrate grades at high recovery. Further metallurgical testing is underway.

Malku Khota Project, Bolivia - Update on Arbitration:

The Company's wholly-owned subsidiary South American Silver Limited continues to reiterate to the Bolivian Government its willingness to initiate negotiations to settle the dispute that arose as a result of acts and omissions of the Government of Bolivia, including the issuance of Supreme Decree No.1308 on August 1, 2012, revoking all of the mining concessions held by Compañia Minera Malku Khota S.A. (CMMK), a wholly-owned subsidiary of South American Silver Limited (the Malku Khota project). The six-month negotiation period in which the Government is expected to have discussions with the Company ends on April 23rd 2013, after which if no settlement can be reached, South American Silver Limited will formally file a Notice of Arbitration under the Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL) claiming full compensation based on fair market value of the Malku Khota project.

Sample Analysis and Copper Equivalent Grade: (CuEq*)

Samples were analyzed by Andes Analytical Assay Laboratory located in Santiago, Chile. Gold was analyzed using fire assay and the AA (Atomic Absorption) method while silver, copper, gallium, indium, molybdenum and 38 additional elements were analyzed by ICP AES HF43 method with a four-acid digestion. The copper equivalent has been calculated using the following prices: copper $3.50 /lb, gold $1,600/troy oz, silver $30.00/troy oz, molybdenum $11.00/lb, lead $0.90/lb and Zinc $0.90/lb. Values have not been adjusted for metallurgical recoveries.

The qualified person for this press release is Felipe Malbran, Executive VP of Exploration, South American Silver Corp., and he has reviewed and approved the content of this press release.

About South American Silver Corp.

South American Silver Corp. is a growth focused mineral exploration company creating value through the exploration and development of the large scale Escalones copper-gold project in Chile, the pursuit of new opportunities, and the realization of value from the Malku Khota project in Bolivia. South American Silver Limited is a company incorporated in the Bermuda Islands, an overseas territory of the United Kingdom, which through its wholly owned Bahaman subsidiaries: Malku Khota Ltd, G.M. Campana Ltd. and Productora Ltd., owns one hundred per cent of the outstanding shares of Compañía Minera Malku Khota S.A., a Bolivian company, holder of the Malku-Khota mining concessions until their nationalization by the Bolivian Government. The Company's approach to business combines the team's track record of discovery and advancement of large projects, key operational and process expertise, and a focus on community relations and sustainable development. Management has extensive experience in the global exploration and mining industry. The Company's shares are listed on the Toronto Stock Exchange under the symbol "SAC" and on the OTCQX as "SOHAF". Information related to South American Silver Corp. is available at www.soamsilver.com and on SEDAR at www.sedar.com.



South American Silver Corp. Contact:

Robert Gill

Investor Relations

South American Silver Corp.

604-681-6926 or 1-855-681-6926 Toll Free



futr

They have a long way to go to reach the low standard set by Lance Armstrong...

He was merely caught cheating while trying to win at competition... and, without validating it, you obviously do have to have some degree of respect for the quality of his effort and skill at cheating. And, even with the cheating, it's not like he didn't do any of the things required to win...

What you see here instead is an transparent and hamfisted effort in cheating that isn't capable of fooling anyone, that is being conducted after the fact, that is very obviously designed to lie about the company cheating, in order to mask their intentional conduct of an armed robbery...

It's more like Lance Armstrong (before being caught cheating) being mugged by street thugs who were intent on taking his medals, nothing more...

Moreover, you see armed robbery being conducted by thugs who are obviously stupid... having been caught red handed in the act, their only excuse is that they had to violate their contracts and violate their own law to steal the assets from the investors who owned them, and who funded development of them in good faith, because the local goatherders said they wanted them to ?

LOL!!!

Clearly, there was a motive for the robbery that has occurred... but, the local goatherders clearly weren't the reason for it, rather than a badly crafted ruse intended to enable and "justify" it...

As a matter of logic, it doesn't even matter if it was true that the company was overstating the value of the assets... because the value, whatever it is, is never a viable or justifiable motive for simple armed robbery.

The fact that argument is even being made while trying to use it in validating the fact of the theft perpetrated by thugs... is telling in itself...

They're not bothering denying they stole the assets...

They're simply quibbling, after the fact, that the things they stole really weren't worth all that much... and anyway, the guy they stole them from got them by cheating...

It's laughable.

Morales similarly hamfisted effort after the fact is only proving MORE that he's a low life, a liar, a cheat, a thug, and a common thief... and not more.

I don't think that means he doesn't have accomplices who were busy trying to talk him into it, etc.

And, the fact he's gladly made a mockery of the law in Bolivia to benefit himself, is another proof of the known fact that greed and self justifying cleptocracy rules there.

I don't think any of that alters any of what's likely to result when the case is heard in a court where the perpetrator doesn't subvert the law and make it be what he wants...

Will be interesting to follow the depositions in court-

Your average lawyer is about as honest as Lance Armstrong and I suspect the statements you refer to come from the same neighborhood.

futr

From the same link... now they're claiming there's not so much there, hoping they can minimize the damages in any award ?

Friday, January 11, 2013
0
Deposit mining says Mallku Khota is not so great
Posted by industry at 23: 50
Tweet
The mining Ministry yesterday submitted a first study of minerals found in Mallku Khota and dismissed that there are large reserves of minerals, as reported by the South American Silver Corporation, which previously was responsible for mineral exploration.

The deposits were reverted to the State fulfilling a request made by the herders in the area last year and who are interested in the exploitation of minerals.

"We cannot say that you either an atentados. That is not evident, up to what we have seen. It has minerals of interest is evident, but not in the dimension that was announced (...). Most think that they (the company) have overestimated reserves to grow the value of their shares on the stock exchange,"said the holder of mining, Mario Virreyra. (LE)

Holy filings lol

http://www.microsofttranslator.com/bv.aspx?from=&to=en&a=http://boliviaminera.blogspot.com/

Excellent...

"full compensation based on fair market value"...

I think there's not a snow balls chance in hell they'll reach a negotiated settlement in 6 months.

And, given the facts, I think there's not a snow balls chance in hell that Bolivia will win the argument in arbitration.

That leaves an issue in the uncertainty of the utility of an arbitration award.

SOHAF is still debt free, trading for not much more than they have in cash per share... and, they own a pretty decent copper prospect, that's not in Bolivia, that is worth more than we're seeing in the share price now...

Anyone want to guess at what the "fair market value" of the Malku Khota project is on a per share basis ?

South American Silver Notifies Bolivian Government of an Investment Dispute over the Expropriation of Malku Khota mining concessions



October 23, 2012, Vancouver, British Columbia- South American Silver Corp. (TSX: SAC, US OTC: SOHAF) announced today that its wholly-owned subsidiary, South American Silver Limited, has delivered a formal letter to the Plurinational State of Bolivia notifying it of an investment dispute between South American Silver and Bolivia. The dispute has arisen as a result of acts of the Government of Bolivia including the issuance of Supreme Decree No.1308 on August 1, 2012. The Decree revoked mining concessions held by Compañia Minera Malku Khota S.A. (CMMK), a wholly-owned subsidiary of South American Silver Limited.

South American Silver Limited is a protected investor under the Bilateral Investment Treaty between the Government of the United Kingdom and the Government of Bolivia, and the actions of the Bolivian Government are in violation of that Treaty and of international law. Notification of the investment dispute triggers a six-month cooling-off period during which the disputing parties may negotiate a settlement. If settlement cannot be reached within the cooling-off period, South American Silver intends to file for international arbitration under the Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL) claiming full compensation based on fair market value of the Malku Khota project.

Phillip Brodie-Hall, President and CEO of South American Silver said, "We had made significant investments in Bolivia leading to the discovery of the Malku Khota silver-indium gallium deposit to which we added substantial value through the application of our exploration expertise and our unique processing technology. It is most unfortunate that development of the project has been cut short by the nationalization of our concessions but we are confident that the international arbitration process gives us the means to recover the full value of our project."

About South American Silver Corp.

South American Silver Corp. is a growth focused mineral exploration company creating value through the exploration and development of the large scale Escalones copper-gold project in Chile and the realization of value from the Malku Khota project in Bolivia. South American Silver Limited is a company incorporated in the Bermuda Islands, an overseas territory of the United Kingdom, which through its wholly owned Bahaman subsidiaries: Malku Khota Ltd, G.M. Campana Ltd. and Productora Ltd., owns one hundred per cent of the outstanding shares of Compañía Minera Malku Khota S.A., a Bolivian company, holder of the Malku-Khota mining concessions until their nationalization by the Bolivian Government. The Company's approach to business combines the team's track record of discovery and advancement of large projects, key operational and process expertise, and a focus on community relations and sustainable development. Management has extensive experience in the global exploration and mining industry. The Company's shares are listed on the Toronto Stock Exchange under the symbol "SAC" and on the US OTC market as "SOHAF". Additional information related to South American Silver Corp. is available at www.soamsilver.comand on SEDAR at www.sedar.com.



South American Silver Corp. Contact:

Phillip Brodie-Hall

Chief Executive Officer



Robert Gill

Investor Relations

South American Silver Corp.

604-681-6926 or 1-855-681-6926 Toll Free



futr

Maybe...

http://uscode.house.gov/download/pls/28C97.txt

http://www.vesseltracker.com/en/VesselArchive/Bolivia/All.html

Looks like the company has tired of playing nice with the thieves and criminals down in Bolivia...

First, they've just fired the former "nice guy" CEO:

http://markets.financialcontent.com/stocks/news/read/22022151/South_American_Silver_Announces_Change_in_President_and_CEO_

Then, there has also been a change of tone that has occurred right along with the change in leadership:

"In Bolivia, the Company is aggressively pursuing all options to maximize the value from the Malku Khota project and intends to pursue compensation for the fair market value of the project through international arbitration."

http://finance.yahoo.com/news/south-american-silver-files-second-222000553.html

SOHAF had already done quite a fine job defining the value of what has now been flagrantly stolen from them... in violation of Bolivian law. They'd JUST gone through the motions of validating with Bolivia that they'd done everything properly, and properly owned the rights to the resource...

So, now, they need to go after Bolivia in court, to get them to pay SOHAF the fair market value of the resource that was stolen, plus damages, following their wrongful taking of it...

Will be interesting to watch and see the evolution that occurs in their legal approach to that effort...

They also just put out current financials: "As at June 30, 2012, the Company had working capital of $31.8 million, including cash and cash equivalents of $32.3 million. With these funds in place, the Company is in a strong financial position to expand activities at its Escalones project, to pursue compensation for the fair market value of the Malku Khota project, and to pursue other corporate initiatives."

FWIW, my take on the fair market value of the project that Boliva stole... is in the neighborhood starting at $2 to $3 billion dollars, up to $6 billion dollars...

An Outlaw Nation
Bolivia Seizes South American Silver’s Malku Khota Project
By Kevin Michael Grace

Read the Resource Clips interview with South American Silver President/CEO Greg Johnson: http://resourceclips.com/2012/08/01/bolivian-burglary/

Since Evo Morales became President of Bolivia in 2006 there has been a struggle between his two halves. There was the soulful and iconic Indian with his love of Pachamama (Mother Earth) and the desire to forge a Third Way between Left and Right. And then there was the admirer of Che Guevara who waged war against big business, Yanquis and the Catholic Church. With the August 2 confirmation of his government’s expropriation of South American Silver’s TSX:SAC Malku Khota project, the struggle is over, and Morales has joined Juan Perón and Hugo Chavez in the ranks of Latin American strongmen.

National Bank Financial analyst Paolo Lostritto (an early supporter of and investor in SAC) is unequivocal about the consequences of the nationalization for Bolivia. “There isn’t certainty of title,” he declares, “and it doesn’t matter how you risk-adjust it, the equation is worth zero. No matter how big the size of the prize, it doesn’t matter. When you multiply anything by zero, you get zero. Therefore, you get a lack of willingness of people to invest capital in that country. Bolivia has shown it’s not open for business.”

Read more about Bolivia's illegal seizure of South American Silver's asset: http://resourceclips.com/2012/08/02/an-outlaw-nation/

Bolivian Burglary?
South American’s Greg Johnson on the Malku Khota Expropriation Threat
By Kevin Michael Grace

The mining industry is preoccupied by three letters: CSR. They stand for corporate social responsibility, the idea that miners must care as much about local people as they do about their quarterly reports and share price. Greg Johnson, President/CEO of South American Silver Corp TSX:SAC, believes he has committed his company to CSR in Bolivia and that his commitment was recognized and appreciated by its indigenous people. To no avail, it would seem. After anti-mining protests escalated to near-terrorism, President Evo Morales announced July 10 he would revoke SAC‘s massive Malku Khota silver-indium-gallium project.

Malku Khota, located in Potosí Department, is quite a prize, even for Bolivia, a world leader in mineral production since the 16th century. According to a May 2011 NI 43-101 estimate, it contains indicated resources of 230.3 million ounces silver, 1,481 tonnes indium and 1,082 tonnes gallium. Inferred resources are 140 million ounces silver, 95 tonnes indium and 1,001 tonnes gallium.

Read more about South American Silver and their Bolivian play: http://resourceclips.com/2012/08/01/bolivian-burglary/

This nationalization phenonmenon has all the mining companies worried world-wide. I don't blame the countries for doing this considering how much money is drained from the nationalized countries. But the locals seem to want the SOHAF company back, so this may work out yet for everyone. And there's plenty of exploration still needed before this ore body is declared the largest in the world. IMO

garrox

Here's a outlook view of Chile, where their other project is located:

http://www.europac.net/voices/chile_crossroads

"The period ahead will be one of transition for the Company as we adjust our business strategy to advancing our Chilean copper-gold project..."

The plan re Bolivia "includes the prospect of negotiating a resolution of the situation with the Bolivian government, or, if required, the pursuit of compensation for the full value of the project through international arbitration.”

http://www.soamsilver.com/august-2-2012.asp

Likely will require patience, still, but, there's a lot of upside, not much downside risk left, and, I can think of worse things than being a miner that is sitting on $23 million in cash right now...

I agree. Purely in terms of the trading, the risk in Boliva had largely been discounted, and now the stock trades basically for cash value, with BOTH projects, the one in Bolivia, and the one in Chile being "free" in relation to share price.

SOHAF will get "something" for the Bolivian project... and probably more than many expect, including that it is possible that they'll still end up participating in the project, even if at a reduced participation level... still leaving difficult questions about the proper compensation for the taking of that private property... before you get to enabling any investment...

I'll remain skeptical about it... including the potential that there may be "dirty tricks" being played by competitors seeking to torpedo the project...

But, it's clearly worth more than "nothing"... given it still includes two or perhaps 3 values: probably payment by Bolivia for the "taking", possible participation in a restructured project, and, assuming insufficient compensation/participation, legal action in Canada and the U.S., the world court, etc., to enable attaching assets of comparable value. The value is LARGE. That thing contains 300 million ounces of silver... plus other values...

Then, the current share price also attributes ZERO value to the Escalones project in Chile, which should have an Economic Assessment done by next year ? It's a low grade deposit, but, there's a lot of it, with an inferred resource now of 4.5 BILLION pounds of copper equivalent. With copper now at $3 a pound in their calculations, versus $3.66 currently in the market... their numbers appear to make sense. With that being $13.5 billion worth of metal, it should be worth "something" in NPV ? With only 115 million shares... that's $117 per share in metal. Call it worth only 1% and you still get $1 a share just for that.

So, yes, I think SOHAF is worth more than their cash on hand...

SOHAF article:

South American Silver’s Bolivian Project Expected to be Nationalized
Tuesday July 17, 2012, 4:00am PDT
By Michelle Smith - Exclusive to Silver Investing News

http://resourceinvestingnews.com/39783-south-american-silvers-bolivian-project-expected-to-be-nationalized.html?utm_source=Resource+Investing+News&utm_campaign=29e9a52cd4-RSS_EMAIL_CAMPAIGN&utm_medium=email

JB

The Bolivian risk, I believe, was factored in last fall when Morales first made his announcement. After all, the drilling so far has indicated there is enough ore in the ground to make your shares worth over $200.00 each, and then there is more in Chile and then there is more in the bank, to the tune of $45 million. In my opinion this stock is way undervalued.

garrox

Saw that also DOWNSIDEUP. Not sure how business is run in Bolivia, if it's anything like Mexico then we will have to sit for awhile until the dust settles. I don't believe nationalizing Malku Khota is bad if they J/V with SOHAF. There is enough ore there for everyone. And it wouldn't take long to start up exploration again. IMO

garrox

Well worth the effort in checking out the interviews...

Bolivia (through their UN Ambassador) is saying it "recognizes" the investment... and (in so many words) will "make good" on it... without saying that the company will get back all or more than what they've invested, with a fair return on their investment...

At a minimum, that suggests they'll "probably" get the $16 million they've invested back... which is around $0.14 a share in cash, on top of the $0.38 per share in cash they have already.

Seems the company is saying they have some legal avenues to consider, in Canada... given the trading relationship that exists between the countries. Perhaps SOHAF might be able to attach Bolivian trade assets in Canada to get a proper return on their investment ? Seems clear enough that the Bolivian action is both extra-legal and extra-constitutional in Bolivian context... which a Canadian court will likely not have much difficulty with in determining an equitable result.

The CEO says the Chilean venture, which has 4 billion pounds of copper and 600K ounces of gold under tow, is roughly an equal value as the Bolivian investment that is being stolen from the company by the thieves running the Bolivian government.

At $3.00 a pound for copper (vs. $3.50 spot, currently) with nothing on the gold (which is worth another $600 million post production, or $5 a share in revenue over the project life) that's a post production value of more than $12 billion, perhaps easily worth more than $1.2 billion at 10%, now, so, call it a present value of $250 million (or, more than $2.00 a share) now, if they were to just sell the Chilean project at a big discount.

The company currently has a market cap that is around $53 million with $38 million in cash. If they only get their $16 million back from Bolivia... that's got SOHAF trading for the value in cash and receivables, with buyers getting the value in the Chilean project for "free"... with it priced at $0... when it's probably EASILY worth $1 right now...

The shares have never traded over $3.50... so call it an upside to $1.75 based simply on halving their assets, with zero value given in any improvement potential... maybe worth $1.05 right now, with upside to $1.25 near term... based only on their current status.

Put them in a better market for copper and gold, with the Bolivian risks removed... and a firmer valuation based on their other assets being in Chile... easy upside to $2 in a better market... more with higher prices for copper and gold.

Looks to me like the market HAD already properly discounted most of the Bolivian risks... with the recent market action being a fairly significant over reaction by the few who weren't paying attention before the news broke...

I think the Bolivian project was moving ahead more quickly than the Chilean project... so, maybe a bit of a "changing gears" discount for some time lag in that...

Still looks like an easy double from here... based on the current market conditions and the market dynamic apparent in the charts.

Looks like the most current discussion I can find are the interviews that are linked here:

http://www.soamsilver.com/

Worth noting the discussion on mining jurisdictions...

http://www.zerohedge.com/article/15-best-and-15-worst-mining-jurisdictions-world

As others, I disagree with a few of the conclusions... as, obviously, saying Australia is "great" relative to others, only because they opted for a new tax of only 30% of profits instead of 40% ? LOL!!!

Much of the rest is clearly arbitrary... but, useful as a point from which to begin the discussion, at least... Unfortunately, the discussion of the topic didn't really develop.

For SOHAF... Bolivia is properly on the list of the worst... Chile properly near the top on the list of the best...

It's quite possible that SOHAF is worth MORE without the Bolivian project risks than they were worth with them... only because their assets are now not going to be subjected to the risks they were...

Investors losing the ~ $16 million (unverified) spent thus far in Bolivia, probably dodged a bullet... because now they don't have to put the $38 million in SOHAF's remaining cash at risk in that black hole in Bolivia... rather than putting it to work in Chile...

Having seen this sort of thing before... it's worth watching... as I expect there may be legal action that might take place in CANADIAN courts... particularly as/if it turns out that some SOHAF competitors have been "cooperating" with the Bolivian government on a plan to backdoor SOHAF...

As a purely technical trade, it looks like SOHAF has done with the "falling knife" routine now... the volumes have dropped off dramatically, now back to almost nothing as selling has abated... and it looks like it is now set up for the "usual" in a technical correction.

Really nice dynamic pinch charts have formed on both the daily and weekly charts... both are now very fully formed, and have not yet broken... while the pace of change in the trade, reflected in the small volume we're seeing now, suggests it could easily rebound to $0.75 to $1 just on the technical factors you see in the chart.

News could easily alter that, one way or the other...

But, its looking like the market is still mostly valuing "the news" re Bolivia, and not the OTHER assets that SOHAF has...

One comment on Zero Hedge noted that the Bolivian risks were already largely priced in... which is why SOHAF was already trading down around $1 instead of trading for the $7 or $8 or more that they would have been, given the resource, if the opportunity weren't in Bolivia...

I think that's probably right...

Seems SOHAF is a decent enough technical "pinch" chart trade potential, here, if you've the stomach for trading it...

The cash and Chilean leases should give the trade some decent downside risk protection...

Shortsqueeze.com says they have only 18K short... but, including the exempt trade, it could easily be as many as 300K.

Probably would be well worth the effort, now, trying to do a quick bit of DD on the Chilean potentials...

I'd looked at them quickly when I first found SOHAF... but, there was so much more data available on the Bolivian prospects that the Chilean interest is easy to overlook...

Of course, the cash... is cash...

SOHAF got their own thread on Zero Hedge:

http://www.zerohedge.com/news/south-american-silver-plummets-bolivia-announces-it-will-nationalize-one-worlds-largest-silver-?page=2

I thought there might be a current update there, given I'm not finding any new news anywhere else today... but, not seeing anything new over there either.

Doesn't appear any of the ZH guys actually know SOHAF that well. Don't see any indication they know SOHAF still holds cash that is worth twice what they've put into their Bolivian investment, or that they've got a similar "large" lease holding in Chile...

Not SOHAF specific, but did find this comment on silver that I thought was worthy, from poster "BankRiot":

Silver is a powderkeg ready to explode.

Many experts estimate that there are only 1 Billion ounces of Silver above ground. Much of this is not for sale.

So @ $30 an ounce, the entire global aboveground Silver stockpile could be purchased for $30 Billion, or less than 1/2 the price of FaceBook, which very well could be the next MySpace.

Any billionaire could easily bust the Comex, and there are over 1,500 Billionaires in the World.

It happend in the 1980s with the Hunt Brothers.