SILVER STORM MINING (TSXV: SVRS | OTCQX: SVRSF | FSE: SVR)
- Jimmy Lederer
- 7 days ago
- 9 min read
Silver Storm Mining Ltd. (TSXV: SVRS)
A Durango, Mexico focused silver company advancing a potential near term restart of the 100 percent owned La Parrilla Silver Mine Complex, a past producing underground silver, gold, lead and zinc operation with substantial existing infrastructure. The company’s strategy is centered on rehabilitating La Parrilla, expanding the sulphide processing circuit, increasing the mineral resource base through targeted drilling and positioning the asset for a potential return to operations. Silver Storm is positioning itself as a restart focused silver platform with existing permitted infrastructure, meaningful historical production, a Samsung C&T offtake agreement, a strong balance sheet and additional long term optionality through the San Diego project.
Market Focus
Silver Storm operates within the Mexican silver mining and development market, with a focus on near term silver equivalent production restart opportunities and resource growth in Durango State. The company is positioned in a historic and mining supportive jurisdiction where mining dates back centuries and existing infrastructure, labor, permitting and local support can provide advantages relative to greenfield development projects. Silver Storm’s market exposure is driven by silver, gold, lead and zinc prices, investor demand for near term production stories, the scarcity of restart ready silver assets and the potential re rating that can occur as a company transitions from developer toward producer status.
Platform and Strategy
Silver Storm’s operating model is built on three core pillars.
• Advance the potential restart of the La Parrilla Silver Mine Complex by rehabilitating the plant, underground workings and key operating infrastructure.
• Increase La Parrilla’s resource base through low risk underground drilling focused on areas near existing mine development, including Quebradillas, Rosarios and San Marcos.
• Leverage existing infrastructure, permitted capacity, Samsung C&T offtake support and potential milling synergies with San Diego to build a larger Durango focused silver platform.
Asset Base and Development
• 100 percent owned La Parrilla Silver Mine Complex located in Durango, Mexico.
• Past producing underground silver, gold, lead and zinc operation with three main underground mines, Rosarios, San Marcos and Quebradillas.
• Large, underexplored 38,128 hectare La Parrilla land package.
• Approximately US$150 million of in place infrastructure at La Parrilla.
• Existing 2,000 tonne per day mill with oxide and sulphide processing circuits.
• Sulphide circuit being expanded to 1,250 tonnes per day, representing a 25 percent increase in sulphide processing capacity.
• Fully permitted for operations.
• La Parrilla produced more than 34 million ounces silver equivalent between 2006 and 2019.
• Average annual production between 2012 and 2018 was approximately 3.52 million ounces silver equivalent.
• 100 percent owned San Diego project, one of the largest undeveloped silver projects in Mexico.
• San Diego hosts 56 million ounces silver equivalent indicated and 155 million ounces silver equivalent inferred.
Operational Advancement
• Silver Storm completed its 100 percent acquisition of the La Parrilla Silver Mine Complex.
• The company completed an initial 138 hole, 18,626 meter drill program at La Parrilla.
• Quebradillas accounted for 66 drill holes totaling 9,057 meters.
• Rosarios accounted for 47 drill holes totaling 6,687 meters.
• San Marcos accounted for 25 drill holes totaling 2,882 meters.
• The drill program supported an updated mineral resource estimate for La Parrilla.
• The updated resource estimate increased indicated resources by 107 percent and inferred resources by 58 percent.
• La Parrilla now hosts 10.8 million ounces silver equivalent indicated and 16.3 million ounces silver equivalent inferred.
• The mineral resource estimate was modeled using 45 zones across three underground mining areas.
• Approximately 90 percent of indicated silver equivalent ounces and 85 percent of inferred silver equivalent ounces are sulphides.
• An additional 3.8 million ounces silver equivalent in pillars is excluded from the resource.
• The resource remains silver dominant, with silver representing approximately 64 percent of indicated and 67 percent of inferred mineral resource gross metal value.
Exploration and Growth Pipeline
• A 15,000 meter underground drilling program is underway at La Parrilla.
• The program commenced in January 2026 with an initial 6,000 meters planned and was expanded by 9,000 meters following strong initial drill results.
• The goal of the drilling program is to increase indicated and inferred resources.
• Drilling is focused on exploration step out and infill drilling in support of anticipated development at Quebradillas, San Marcos and Rosarios.
• Drill results released to date demonstrate resource growth potential in the San Nicolas and C550 zones at Quebradillas.
• Highlighted 2026 drill intercepts include 441 grams per tonne silver equivalent over 21.72 meters, including 771 grams per tonne silver equivalent over 9.27 meters at the C535 Zone.
• Additional highlighted intercepts include 473 grams per tonne silver equivalent over 3.60 meters, including 740 grams per tonne silver equivalent over 1.65 meters at the San Nicolas Zone.
• Surface exploration and drilling targets include Quebradillas Open Pit, San Marcos North, La Ilusion Argenis and Rosarios West Extension.
• Quebradillas drilling has extended high grade mineralization below and above prior stopes across multiple zones.
• Key Quebradillas drill results include 14.62 meters grading 1,810 grams per tonne silver equivalent, including 9.57 meters grading 2,466 grams per tonne silver equivalent.
• Rosarios drilling tested east, west and central down dip extensions and returned high grade silver equivalent intercepts.
• San Marcos drilling tested the zone at depth and returned broad mineralized intercepts including 19.03 meters grading 249 grams per tonne silver equivalent.
• San Diego provides additional long term growth optionality through potential resource expansion laterally and at depth.
• Higher grade San Diego structures above 150 grams per tonne silver equivalent could potentially be processed at La Parrilla.
• Future San Diego drilling of 5,000 to 10,000 meters may be used to evaluate open pit potential, subject to additional funding.
Partnerships and Strategic Positioning
Silver Storm is strategically positioned as one of the more advanced silver restart stories in Mexico, with permitted infrastructure, existing underground development, historical production and a defined path toward potential operations. The company has secured a 100 percent concentrate offtake agreement with Samsung C&T and its subsidiaries covering lead silver and zinc concentrates for a two year period. The agreement also includes a US$7 million prepayment facility to support the restart of La Parrilla. Strategic shareholders include First Majestic Silver, Eric Sprott and insiders, providing the company with a shareholder base that is familiar with silver mining and Mexican operating assets.
Leadership and Capital Strategy
Silver Storm is led by a team with mining, development, finance, operations and technical experience. Greg McKenzie serves as president, chief executive officer and director and previously worked as a senior investment banker with Morgan Stanley, CIBC World Markets and Haywood Securities, executing more than $18 billion in transactions. Will Ansley serves as chief operating officer and brings more than 20 years of mining industry experience, including the development and construction of seven mines in the Americas. Arturo Zamudio serves as general manager in Mexico and has more than 36 years of experience in underground and open pit mining operations, including prior general manager roles at La Colorada with Pan American Silver and El Castillo and San Agustin with Argonaut Gold. Fernando Ragone serves as chief financial officer and has more than 28 years of experience in finance and mining.
As of May 25, 2026, Silver Storm reported 808.1 million shares outstanding, 1.058 billion fully diluted shares, a TSX Venture share price of C$0.59, a basic market capitalization of approximately C$477 million, approximately C$21 million in cash and average daily volume of approximately 8.7 million shares. In the money warrants could bring in approximately C$43 million.
Near Term Catalysts
• Completion of La Parrilla plant and mine rehabilitation work targeted for 2Q 2026.
• Potential restart of operations at the La Parrilla Silver Mine Complex.
• Expansion of the sulphide circuit to 1,250 tonnes per day.
• Continued execution of the Samsung C&T concentrate offtake agreement.
• Continued results from the 15,000 meter underground drilling program at La Parrilla.
• Resource growth at Quebradillas, San Marcos and Rosarios.
• Further validation of San Nicolas, C550 and other near mine zones.
• Additional surface exploration and drilling at Quebradillas Open Pit, San Marcos North, La Ilusion Argenis and Rosarios West Extension.
• Potential milling synergy evaluation with the San Diego project.
• Potential valuation re rating as Silver Storm advances from developer toward producer status.
Conclusion
Silver Storm Mining is advancing a near term silver restart story anchored by the 100 percent owned La Parrilla Silver Mine Complex in Durango, Mexico. With more than US$150 million of in place infrastructure, a permitted mine and mill complex, a history of more than 34 million ounces of silver equivalent production, an expanded resource base, a Samsung C&T offtake agreement, a 15,000 meter underground drilling program and a potential 2Q 2026 restart target, the company offers investors leveraged exposure to silver production restart potential. Its strategy combines infrastructure rehabilitation, near mine resource growth, sulphide circuit expansion, disciplined capital deployment and longer term optionality from San Diego at a time when restart ready silver assets remain scarce in the public markets.
Jimmy Lederer
Vice President
Trinity Financing Investments Corporation
Phone: 347-514-0000
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