Hi Ho Silver options out Fairview property

Jul 11, 2018

2018-07-10 20:22 ET – News Release

Mr. William Jorgenson reports

HI HO SILVER RESOURCES ANNOUNCES MINERAL TENURE OPTION AND SALE AGREEMENT

Hi Ho Silver Resources Inc. has granted an option and sale agreement to 1150892 B.C. Ltd. for the Fairview gold tenures owned by Hi Ho and located in the Osoyoos mining district.

Hi Ho will receive $1.5-million for the option portion of the agreement, under which, upon exercise of the option, 1150892 B.C. will receive 75-per-cent ownership and Hi Ho will retain 25-per-cent ownership in a joint venture. 1150892 B.C. has a further sales option to purchase the remaining 25 per cent for an additional $1-million, 500,000 common shares of 1150892 B.C. and a net smelter reserve (NSR) of 3 per cent.

The company also announces that Gary Jorgenson has resigned as a director and as president of the company, so that he can enjoy retirement. Steve Jorgenson has resigned from his position as vice-president and has replaced Gary Jorgenson as president of the company. Steve Jorgenson has also been appointed to the company’s board of directors. In addition, Kevin Jorgenson has been appointed as vice-president of the company. In connection with his appointment, Kevin Jorgenson has entered into a consulting agreement with the company, under which he will receive monthly remuneration of $3,000 and 30,000 units, with each unit having a deemed price of 10 cents, and comprising one common share of the company and one common share purchase warrant (each warrant exercisable for two years from the date of issuance at an exercise price of 30 cents).

About Hi Ho Silver Resources Inc.

Hi Ho Silver Resources is a Vancouver-based mineral exploration company dedicated to the exploration and development of precious- and base-metal mineral deposits, and other mineral opportunities in North America and elsewhere.

We seek Safe Harbor.

http://www.hihoresources.com/news-releases/