Kingsmen Resources Ltd. (TSXV: KNG) (OTCQB: KNGRF) ('Kingsmen' or the 'Company') is pleased to report new results from its on-going surface sampling program of old workings along the Soledad and Soledad II structures, and their subsidiary structures, in the southeast part of the Las Coloradas project, Chihuahua, Mexico. Located 30km from Hildago de Parral, Chihuahua, the Soledad structures were historically mined by ASARCO (American Smelting and Refining Company), from 1943 to 1952.
Prospecting and sampling are continuing.
Scott Emerson, President, commented: 'These first results are extremely encouraging as they clearly demonstrate the persistence of high-grade silver mineralization on part of a second important structure which is 1.2 km to the NW of the old Las Coloradas mine. Work is continuing along the entire extent of the structure. This is an area, of unexplored potential due to the previously fragmented property ownership.'
The old workings on the NW-trending Soledad II structure are distributed over approximately 1,000 meters. The best silver grades are found over a 400 meters length of the northern part of the structure where it occurs in volcanics and tracks felsic intrusives. The best silver grades are found in the El Nido, Enjambre and La Pila mines. At El Nido the quartz vein structure is offset to the northeast, likely due to an intersection with the NE-trending La Chiquita structure, indicating structural complexity with high grade silver. This is a positive setting for mineralization. A similar structural intersection with high grade silver occurs where the NE-trending La Avispa structure intersects at the La Pila mine. Anomalous silver also occurs in the La Avispa mine. The La Avispa structure tracks the contact of volcanics with felsic intrusives.
The overall structural picture is one where the two principal NW-trending mineralized structures (Soledad and Soledad II) are cut by NE-trending structures (+/- mineralization). Unsurprisingly, the projected intersections of the two sets of structures appear favourable for high grade silver mineralization and this is supported by the sampling.
The currently exposed geology, structures and mineralization are functions of erosion and imperfect exposure. The significant strike length of the Soledad and Soledad II structures indicate the structures will continue at depth with the potential for high grade silver mineralization. The structures have not been tested/explored at depth, to-date.
About Kingsmen Resources
In line with Kingsmen's organic-growth strategy, the Company's focus is on exploration and development, and is currently focused on district-scale exploration for high -margin metallic mineral deposits in the prolific mining districts of Parral Mexico. In addition, the company has a 1% NSR on the Los Ricos North project in Mexico operated by GoGold Resources Inc. The Company's leaders have extensive experience in the mining and financial sectors. Kingsmen is a publicly-traded company (TSXV: KNG) (OTCQB: KNGRF) and is headquartered in Vancouver, British Columbia.
Contact:
Tel: 6046859316
Email: se@kingsmenresources.com
Forward-Looking Statement
All statements, trend analysis and other information contained in this press release about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as 'seek', 'anticipate', 'believe', 'plan', 'estimate', 'expect' and 'intend' and statements that an event or result 'may', 'will', 'should', 'could' or 'might' occur or be achieved and other similar expressions. All statements, other than statements of historical fact, included herein, including, without limitation, statements regarding the completion of the acquisition of the Las Coloradas Project and receipt of regulatory approval, are forward-looking statements. Although Kingsmen believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since Kingsmen can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in Kingsmen's periodic filings with Canadian securities regulators, and assumptions made with regard to: Kingsmen's ability to make the required payments under the definitive agreements and Kingsmen's ability to secure the necessary regulatory approvals. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Important factors that could cause actual results to differ materially from Kingsmen's expectations include risks associated with the business of Kingsmen; risks related to the satisfaction or waiver of certain conditions to the closing of the acquisition of the Las Coloradas Project; non-completion of the acquisition of the Las Coloradas Project; risks related to exploration and potential development of the Las Coloradas Project; business and economic conditions in the mining industry generally; fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals and other risk factors as detailed from time to time and additional risks identified in Kingsmen's filings with Canadian securities regulators on SEDAR in Canada (available at www.sedar.com). Forward-looking statements are based on estimates and opinions of management at the date the statements are made. Kingsmen does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements
'About Golden Independence Mining Corp.
Golden Independence Mining Corp. is a development company currently focused on the development-stage Independence project located adjacent to Nevada Gold Mine's Phoenix-Fortitude mine in the Battle Mountain-Cortez Trend of Nevada in addition to the wholly owned Napoleon gold project located in the Kamloops Mining Division of BC. The Independence project hosts an M&I resource of 334,300 ounces of gold and an Inferred resource of 847,000 ounces of gold with a substantial silver credit. A 2021 Preliminary Economic Assessment (PEA) outlined a low-cost heap leach operation focusing on the near-surface resource with total production of 195,443 ounces of gold at an all-in sustaining cost of US$1,078 per ounce of gold. The Napoleon project is comprised of over 1,000 hectares and prospective for multiple forms of gold mineralization, with exploration in the area dating back to the 1970's with the discovery of high-grade gold.
Contact:
Tel: 1.604.722.9842
Email: info@goldenindependence.co
This press release contains forward-looking information (within the meaning of applicable Canadian securities legislation) that involves various risks and uncertainties regarding future events. Such forward-looking information includes statements based on current expectations of management made in light of management's experience and perception of historical trends, current conditions and expected future developments. Forward-looking information is subject to a number of risks and uncertainties and, as such, forward-looking statements are not guarantees of future performance of the Company. Forward-looking information in this news release includes, without limitation, statements regarding the commencement of the exploration program at the Napoleon project and the exploration potential of the Napoleon project.. There are numerous risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking information in this news release, including without limitation, inherent risks associated with the mining industry and the results of exploration activities and development of mineral properties, stock market volatility and capital market fluctuations, general market and industry conditions, as well as those risk factors discussed in the Company's most recently filed management's discussion & analysis. Actual results and future events could differ materially from those anticipated in such information. This forward-looking information is based on estimates and opinions of management on the date hereof and is expressly qualified by this notice. Risks and uncertainties about the Company's business are more fully discussed in the Company's disclosure materials filed with the securities regulatory authorities in Canada at www.sedar.com. The Company assumes no obligation to update any forward-looking information or to update the reasons why actual results could differ from such information unless required by applicable law.
KINGSMEN RESOURCES LTD. 
