Zacatecas Silver Appoints Mr. Jorge Ramiro Monroy as Advisor and Overwhelming Shareholder Approval at AGM

VANCOUVER, BC, July 18, 2022 /CNW/ – Zacatecas Silver Corp. (“Zacatecas Silver” or the “Company”) (TSXV: ZAC) (OTC: ZCTSF) (Frankfurt: 7TV) is pleased to announce the appointment of Mr. Jorge Ramiro Monroy as advisor and received overwhelming stock approval on all matters at the annual general meeting held on July 15, 2022.

Zacatecas Silver (CNW Group/Zacatecas Silver Corp.)


  • Founder and Director of the Mexican Chamber of Commerce in Hong Kong

  • Founder of Silver Council of Asia

  • many years of commercial experience Mexico

Mister. Ramiro Monroy is the founder and CEO of Emerging Markets Capital, an investment firm based in Hong Kong and to invest primarily in mining exploration stocks listed on the Toronto Stock Exchange.

He was a founding member of the Mexican Chamber of Commerce in Hong Kong and a founder of the Silver Council of Asia.

He spent most of his career in AsiaMister. Ramiro Monroy has established a number of Asian-funded companies in which to do business North America. He is the CEO and founder of Reyna Silvera Toronto Stock Exchange listed company with silver exploration projects in Mexico and the US.

Mister. Ramiro Monroy currently serves on the boards of Sierra Madre Gold and silver and Arabic shield resources. He is a former director of Prime Mining and a director of Garra Esports, a private company looking to build an esports business Latin America.

Prior to founding Emerging Markets Capital, Jorge worked for Frontier Securities, a Japanese owned investment advisory and securities brokerage firm. He has been part of the advisory team providing natural resource investment, advisory and capital raising for mining and infrastructure companies with projects in Mongolia Looking for investors in Asia and the middle East.

Mister. Ramiro Monroy has a bachelor’s degree State University of New Yorkan MBA in finance from the Hong Kong University of Science and Technology.

Jorge is fluent in English, Hindi, Spanish and Portuguese and has passed the HSK Level III Chinese Language Proficiency Exam.

Bryan Slusarchuk, CEO and Director of Zacatecas states: “Jorge has an excellent track record of successfully doing business in Mexico and has also done a great job of establishing international sources of capital for various Mexican companies. He is a sponsor of Mexicothrough his work in institutions such as the Mexican Chamber of Commerce in Hong Kong. We look forward to welcoming Jorge to the Zacatecas Team as we advance the Esperanza Gold Project toward gold production while exploring the high-grade Zacatecas Silver Project.”

Voting results of the AGM

Zacatecas is pleased to announce that shareholders overwhelmingly approved all of the proposals presented at the AGM held on July 15, 2022including the re-election of Bryan Slusarchuck, John Levins, Christopher Wilson, Nancy La Couvee, Jonathan Richards and Charles Hethy and the appointment of the previously announced Dr. Luis Chavez Martinez. dr Chavez is the Senior Vice President, MexicoAlamos Gold Inc. is the current Director of the Mexican Chamber of Mines, past President of the Mexican Mining Association and past Director General of the Mexican Geological Survey.

The shareholders also approved the appointment of Davidson & Company LLP as auditor of Zacatecas and the 10% Rolling Stock Option Plan by Zacatecas.

The votes cast for each matter were as follows:


To the %

Withheld/Against %

number of directors




Bryan Slusarchuk



John Levins



Christopher Wilson



Nancy La Couvee



Luis Chavez



Jonathan Richards



Charles Hethy



Appointment of Davidson & Company LLP



stock option plan



A total of 22,596,743 common shares were elected at the AGM, representing 27.4% of the issued and outstanding shares.

Grant of Stock Options

In connection with the appointment of Mr. Ramiro and Dr. Chavez and other grants to consultants have been granted a total of 1,100,00 stock options with an exercise price of $0.70 and a term of five years. Of those options, 400,000 were granted to Dr. Chavez who is now a director of the Zacatecas.

Qualified Person

The content of this press release has been reviewed and approved by Chris Wilson, B.Sc. (Hons), PhD, FAusIMM (CP), FSEG, Chief Operating Officer of Zacatecas Silver. dr Wilson is a Qualified Person as defined by National Instrument 43-101 – Disclosure Standards for Mineral Projects and is responsible for all technical information in this press release.

About Zacatecas Silver Corp.

Zacatecas is a mineral resource company with the advanced-stage gold-focused Esperanza gold project and the advanced-stage silver-focused Zacatecas property. The Zacatecas Property is located in the State of Zacatecas, Mexico, within the highly prospective Fresnillo Silver Belt which has produced over 6.2 billion ounces of silver. The Company holds 7,826 ha (19,338 acres) of land highly prospective for low- and intermediate-sulphidation silver-base metal mineralization and possible low-sulphidation, gold-dominated mineralization. On December 14, 2021Zacatecas Silver announced a mineral resource estimate for the Panuco deposit consisting of 2.7 million tonnes grading 187 g/t AgEq (171 g/t Ag and 0.17 g/t Au) for 16.4 Moz AgEq (15 Moz silver and 15,000 ounces) consists of gold) (see Company press release dated December 14, 2021).

The Zacatecas property is located 25 km southeast of MAG Silver Corp.’s Juanicipio mine. and Fresnillo PLC’s Fresnillo Mine. The Zacatecas Property shares common boundaries with Pan American Silver Corp.’s claims. and El Orito, owned by Endeavor Silver Corp. located. There are four high-grade silver prospects within the Zacatecas property: the Panuco deposit, Muleros, El Cristo and San Manuel-San Gill. The Zacatecas property also includes El OroEl Orito, La CanteraMonserrat, El Penón, San Judas and San Juan Silver base metal vein targets and such targets are relatively unexplored and will be the focus of rapid exploration.

The advanced stage Esperanza Gold Project, covering 14,337.83 hectares, is located in Morelos State, Mexico. Significant core and reverse circulation drilling has been completed to date at the Esperanza Gold Project resulting in a total of 389 drill holes for 69,716 metres.

Alamos Gold Inc. reported in its most recent Annual Information Form a resource estimate of a measured and indicated resource of 34,352,000 tonnes grading 0.98 g/t gold and 8.09 g/t silver for 1,083,366 ounces of gold and 8,936,201 ounces of silver an inferred resource of 718,000 tonnes grading 0.80 g/t gold and 15.04 g/t silver for 18,375 ounces of gold and 347,192 ounces of silver. The Company considers this a historical resource as defined by National Instrument 43-101. Resource blocks have been defined with dimensions of 10 meters (m) by 10 meters by 5 meters. Estimation of grades was performed using standard kriging on clipped composites. An additional step in the estimation strategy was the use of the dynamic anisotropy technique in Vulcan’s deployment options. This additional capability allows for a more realistic result of the spatial distribution of the estimated grade as it follows the folded shape of the deposit. The assumptions used on the resource include the following metal prices: gold price of $1,400 (US) per ounce (oz) and silver price of $22 (US) per ounce. The following economic assumptions were used for the resource: recoveries from 60.4 percent at 0.2 g/t to 71.9 percent at 1.6 g/t for gold, 25 percent for silver, $2.60 per tonne mining costs, 64 cents per general and administrative costs, $4.20 per tonne grinding costs and a 45 degree pit incline. The Company believes the resource is relevant based on its identification and modeling of the Esperanza deposit.

The Company has not done sufficient work to classify the resource as a current mineral resource or mineral reserve and the Company is not treating the historical estimate as a current mineral resource or mineral reserve. Although the resource estimate is believed to be reliable, the Company will resample a portion of the drill core in order to complete a new resource estimate. In addition, additional data review including re-logging of selected diamond drill hole collars; reviewing graphical drill core logs, comparing these logs to remaining half-cut core and cross-checking selected geological log entries in the agonist database; and a reconciliation of the original sample certificates with the sample and drill hole database.

In the name of the company
Bryan Slusarchuk
Chief Executive Officer and Director

Forward-Looking Statements

The information contained in this press release contains forward-looking statements that are based on assumptions as of the date of this press release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Zacatecas Silver cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by many material factors, many of which are beyond their control. These factors include, among others: risks and uncertainties related to Zacatecas Silver’s limited operating history, proposed exploration and development activities on its properties and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results could differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required by applicable securities laws, Zacatecas Silver undertakes no obligation to publicly update or revise any forward-looking information.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the Exchange’s policies) accepts responsibility for the adequacy or accuracy of this release.



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