Vancouver, British Columbia--(Newsfile Corp. - January 8, 2025) - Kingsmen Resources Ltd. (TSXV: KNG) (OTCQB: KNGRF) ("Kingsmen" or the "Company") is pleased to report it will commence its field reconnaissance program on the Saddle Extension zone ("Saddle X") . The Saddle and Saddle X areas are part of its 100% owned Las Coloradas project, in the Parral mining district of the Central Mexican Silver Belt, Chihuahua, Mexico.
Figure 1
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The Saddle X covers an area of 1.8 X 1.4 kilometers (1.2 square miles) between the Saddle target and the Soledad structures/historic Las Coloradas mine (Figure 1), where the company is planning its initial drill program. The goal of Kingsmen's exploration in this area is to better define this newly discovered drill target.
President, Scott Emerson, commented: "We are excited to start 2025, putting the logistics together for our initial drill program and the expanded field work on the newly discovered Saddle target. The magnetic signature of this area strongly resembles the La Prieta mine in Parral City. The Saddle target presents an opportunity which could significantly add to our resource potential"
About Las Coloradas
The Las Coloradas Project ( 8.5 km2 -3.3 sq miles) represents a consolidation of a historic mining district that covers numerous silver-gold-lead-zinc-copper mines previously exploited by ASARCO (American Smelting and Refining Company), the U.S.- based subsidiary of Grupo Mexico.
Las Coloradas is in the Parral mining district of the Central Mexican Silver Belt, located approximately 30 kilometers southeast of the city of Hildago de Parral and 40 kilometers east of the San Francisco de Oro and Santa Barbara mining districts where several old major mines are located: La Prieta, Veta Colorada, Palmilla, Esmeralda, San Francisco del Oro and Santa Barbara. As well, new major mining projects are currently being explored in the district: Cordero (Discovery Silver Corp.), 35 kms north of Parral, and La Cigarra (Kootenay Silver Inc.), 35 kms northwest of Parral. Click here to see locator map, https://www.kingsmenresources.com/area-history
Qualified Person
Kieran Downes, Ph.D., P.Geo., a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical disclosure set out in this news release.
About Kingsmen Resources
Kingsmen Resources is a mineral exploration company focused on advancing its 100% held Las Coloradas Project located in the prolific mining district of Parral Mexico. The project hosts the historic past producing high-grade silver mine, Las Coloradas. It is considered to be prospective for hosting further precious metal deposits, being on the same structural and stratigraphic belts that host numerous other , on -trend, high- grade deposits. In addition, the company has a 1% NSR on the Los Ricos North project operated by GoGold Resources Inc.in Mexico. The Company's leaders have extensive experience in the mining and financial sectors. Kingsmen is a publicly-traded company (TSXV: KNG) (OTCQB: KNGRF) and is headquartered in Vancouver, British Columbia.
On behalf of the Board, Signed:
"Scott Emerson"
Scott Emerson,
President & CEO
Phone: 6046859316
Email: se@kingsmenresources.com
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statement:
All statements, trend analysis and other information contained in this press release about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. All statements, other than statements of historical fact, included herein, including, without limitation, statements regarding the completion of the acquisition of the Las Coloradas Project and receipt of regulatory approval, are forward-looking statements. Although Kingsmen believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since Kingsmen can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in Kingsmen's periodic filings with Canadian securities regulators, and assumptions made with regard to: Kingsmen's ability to make the required payments under the definitive agreements; and Kingsmen's ability to secure the necessary regulatory approvals. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Important factors that could cause actual results to differ materially from Kingsmen's expectations include risks associated with the business of Kingsmen; risks related to the satisfaction or waiver of certain conditions to the closing of the acquisition of the Las Coloradas Project; non-completion of the acquisition of the Las Coloradas Project; risks related to exploration and potential development of the Las Coloradas Project; business and economic conditions in the mining industry generally; fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risk factors as detailed from time to time and additional risks identified in Kingsmen's filings with Canadian securities regulators on SEDAR in Canada (available at www.sedarplus.ca). Forward-looking statements are based on estimates and opinions of management at the date the statements are made. Kingsmen does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.
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SOURCE: Kingsmen Resources Ltd
