StraightUp Resources Inc. Secures Right of Exclusivity with Premier Silver Corp.

VANCOUVER, British Columbia, Oct. 26, 2021 (GLOBE NEWSWIRE) -- via InvestorWire -- StraightUp Resources Inc. (CSE: ST) (OTCQB: STUPF) ("StraightUp" or the “Company”) is pleased to announce that it has entered into a right of exclusivity agreement (the “ROE”) with Premier Silver Corp. (“Premier” or “PSC”).

The ROE with Premier provides that the Company and Premier will exclusively negotiate an agreement for a period of 60 days, whereby StraightUp will acquire all of the outstanding shares of Premier from the current shareholders.

Premier Silver Corp. was formed by a group with a combined 100-plus years of experience in the junior mining industry, raising in excess of $700 million in capital and creating more than $1 billion in shareholder value.

In evaluating commodities of preference and exposure in public markets, PSC isolated its focus to primary-silver projects globally and, in 2020, concluded commercial discussions with NYSE-listed Buenaventura (NYSE: BVN, market capitalisation in excess of $1.5 billion) and completed the acquisition of one of the largest silver mining land packages in Peru with over US$120 million in capitalised expenditures: the Mallay Mine & Processing Plant and associated exploration and development assets, referred to as “Mallay.”

Duncan Gordon, founder and chairman of Premier Silver Corp. commented:

“Having experienced a number of cycles in the commodities and mining business and raised in excess of $500 million for transactions in the space, Premier Silver was created to identify and acquire a de-risked project that provided shareholders access to one of the most undervalued commodities in the world, silver. To compound the lack of value attributable to silver as a commodity, global markets have limited access to companies building assets where silver forms the primary product in mining the material, given its substantial supply as a mining byproduct.

“Mallay has been developed, capitalised and permitted by a multibillion-dollar, globally recognised mining company in Buenaventura (NYSE: BVN), a company that adheres to the highest of industry standards. The opportunity to acquire such an asset that provides this level of depth in optionality, as the market begins to aggressively search for projects quick to cash flow with district scale mineral discoveries in a recognised silver district, puts Premier Silver in a unique position to provide the market leveraged exposure to the silver industry. This demand has been demonstrated in Premier Silver raising in excess of $10 million in private funding to date.