Silver Sands Concludes Debt Settlement Transaction

Rhea-AI Summary

Silver Sands Resources Corp. settles $98,000 debt by issuing 1,152,941 common shares to directors and a consultant at $0.085 per share, subject to a hold period.

Vancouver, British Columbia--(Newsfile Corp. - February 20, 2024) - Silver Sands Resources Corp. (CSE: SAND) (the "Company" or "Silver Sands") announces that further to its news release on February 15, 2024, the Company has concluded its debt settlement transaction and issued an aggregate of 1,152,941 common shares in the capital of the Company at $0.085 per share to two directors and one consultant as full and final settlement of $98,000 in total indebtedness. All shares issued today will be subject to a four-month and one-day hold period expiring June 21, 2024.

About Silver Sands Resources Corp.

Silver Sands is a Canada-based company engaged in the business of mineral exploration and the acquisition of mineral property assets in mining-friendly jurisdictions. Its objective is to locate and develop economic precious and base metal properties of merit. Its key asset is the 6,400 hectare Corner Pocket copper-zinc-silver massive sulfide project, 25 km to the WNW of Corner Brook, Newfoundland. Corner Pocket is contiguous to the west, east and south of the York Harbour Metals Inc., massive sulfide project.

On Behalf of the Board of Directors

Keith Anderson
Chief Executive Officer, Director

For further information, please contact:

Keith Anderson
Chief Executive Officer, Director (604) 786-7774

Forward-Looking Statements:

The information in this news release contains forward-looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward-looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry and to policies linked to pandemics, social and environmental related matters. Forward-looking statements in this release include statements regarding future exploration programs, operation plans, geological interpretations, mineral tenure issues and mineral recovery processes. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements. Silver Sands disclaims any obligations to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as may be required by applicable law.

Neither the Canadian Securities Exchange ("CSE") nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/198642

FAQ

What is the ticker symbol for Silver Sands Resources Corp.?

The ticker symbol for Silver Sands Resources Corp. is SSRSF.

How much debt did Silver Sands settle in the transaction?

Silver Sands settled $98,000 in total indebtedness.

How many common shares did Silver Sands issue in the debt settlement?

Silver Sands issued 1,152,941 common shares.

At what price per share were the common shares issued?

The common shares were issued at $0.085 per share.

What is the hold period for the shares issued in the debt settlement?

The shares issued will be subject to a four-month and one-day hold period expiring on June 21, 2024.