Denarius Announces Third Quarter and First Nine Months 2021 Results
TORONTO, Nov. 29, 2021 (GLOBE NEWSWIRE) -- Denarius Silver Corp. (“Denarius” or “the Company”) (TSXV: DSLV) announced today that it has filed its unaudited interim condensed consolidated financial
statements and accompanying management’s discussion and analysis (MD&A) for the three and nine months ended September 30, 2021. These documents can be found on its website at www.denariussilver.com and by reviewing its profile on SEDAR at www.sedar.com. All
financial figures contained herein are expressed in U.S. dollars unless otherwise noted.
Third Quarter and First Nine Months 2021 Highlights
- Denarius is a junior exploration company currently drilling its Lomero-Poyatos polymetallic deposit located on the Spanish side of the prolific copper rich Iberian
Pyrite Belt. The Company also commenced drilling its Guia Antigua silver-gold project in Colombia in mid-2021 and IAMGOLD Corporation is carrying out an exploration program on the Company’s Zancudo
Project in Colombia as part of an earn-in option agreement. Denarius is fully funded to carry out its current exploration campaigns with a cash balance at September 30, 2021 of $18.3 million.
- Denarius was formed through a reverse take over transaction (“RTO Transaction”) in February 2021 and commenced trading on the TSX Venture Exchange (“TSXV”) under the
symbol “DSLV” in March 2021. The Company currently has 207.4 million common shares issued and outstanding and has a strong shareholder base with approximately 27% owned by GCM Mining Corp.
(formerly, Gran Colombia Gold Corp.) (TSX: GCM) and 19% owned by King Street Capital.
- Initially, the Company focused on two silver-gold exploration projects, the Guia Antigua and Zancudo Projects, both of which are located in high-grade mining
districts in Colombia. Concurrently with the closing of the RTO Transaction, 1255269 B.C. Ltd. (a party to the RTO Transaction and the “Guia Antigua Vendor”) completed a private placement financing
and the gross proceeds of CA$8.4 million (approximately $6.7 million) were released from escrow to the Company. These funds are being used by Denarius to fund the exploration program at the Guia
Antigua Project and for general corporate purposes.