Victoria Project

High-Grade Gold-Silver
11,105 Hectares

Argentum Silver Corp. holds an option to earn a 100% interest in Soltoro's Victoria Project

Argentum Silver Corp. (ASL:TSX-V) may acquire a 100% undivided interest in Soltoro’s Victoria and Coyote silver gold projects by (1) Paying CDN$255,000 in total cash payments, (2) issuing an aggregate 5,000,000 common shares of Argentum Silver and (3) spending a total of CDN$1.1 million on exploration over 2 years. Soltoro retains a 3% NSR interest in each project whereby 1% can be purchased for US$1.5 million to a maximum of 2% for each project. The earn-in period can be accelerated at the discretion of Argentum Silver. The Companies have agreed to use best efforts to complete an option agreement by April 15, 2011 whereby Argentum will pay Soltoro a total CDN$135,000 in cash and issue 1,500,000 shares of Argentum Silver with a commitment to pay the balance of cash and shares by the first anniversary of the letter agreement.

Location: The Victoria claim covers a large portion of the historic Mascota-Navidad mining district. Mining of this gold-silver district dates back to the mid 1500's and was most active at the turn of the 19th century. The initial 10,985 hectare claim was staked to cover this 20 kilometre mineralized trend. A series of north-south trending quartz veins with numerous historic high grade gold-silver mines lie within the trend.

On March 2, 2010, Soltoro acquired 100% of the Lupita Mine property by making a US$25,000 payment on signing, agreeing to advance royalty payments totalling US$535,000 over 10 years and granted a 2% NSR payable to the vendor. Soltoro may at anytime purchase 1% of the NSR for US$1,000,000 and apply any advance royalty payments made to the buy-out. The Lupita Mine claim is internal to the Victoria Project.

History: The Lupita Mine is located near the southern end of Soltoro's Victoria claim block. It was last in production at the end of the 19th century and was operated by a US-based syndicate. Near surface high-grade gold silver mineralization was mined between 1 to 2 metre widths at surface. High grade veins up to 6 metres in width have been reported 87 metres from surface in historical reports. The high-grade gold–silver veins were mined down to a depth of 230 metres over 11 levels. In 1997, sampling by a Canadian-listed junior mining company of the upper levels returned up to 28.4 gpt gold and 1,280 gpt silver from grab samples. Samples taken from the mine dump returned up to 23.3 gpt gold and 3,545 gpt silver.

Geology: The mineralization at the historic Lupita Mine occurs in dilation zones within a set of quartz veins. The strike length of the Lupita Mine vein system at surface is 150 metres. In April of 2009, on the Victoria property, Soltoro identified a 500 metre long gold-in-soil anomaly with a high of 1.23 gpt gold over a similar dilation zone approximately 600 metres north-east of the Lupita Mine. Two historic mine workings located in the area of this anomaly confirm that the source of the soil anomaly is from quartz veins.

Planned programs: Diamond drilling will be carried out to to test the gold-in-soil anomaly area, below the historic Lupita Mine and a mineralized trend south of the Lupita Mine.

Click here for PDF on drill area location map and photos of Lupita Mine