Regency Silver Corp. announced that it has entered into an option agreement to acquire two contiguous claim groups near the San Dimas mine in the San Dimas district of Durango, Mexico. The San Dimas Claims cover a total of 3,498 hectares and contain numerous artisanal workings and tunnels.

Historical grab sampling returned assay values as high as 17 g/t gold and 7,753 g/t silver and 37 g/t gold and 2,325 g/t silver. Verification grab sampling by Regency Silver has returned assay values of 8.95 g/t gold and 304 g/t silver, and 0.49 g/t gold and 1,084 g/t silver. The San Dimas Claims are located only 13 km to the east of the San Dimas mine in Durango, Mexico.

Historical production to 2018 from the San Dimas district is estimated at more than 748 Moz of silver and more than 11 Moz of gold (Enriquez et al., 2018), placing the district third in Mexico for precious metal production after Pachuca and Guanajuato. In order to exercise the option, Regency Silver must pay USD 50,000 on receipt of Exchange acceptance, USD 50,000 in 6 months, issue a total of 1,000,000 common shares and pay back taxes and mining filings on or before March 31, 2025. In lieu of a royalty, Regency Silver must also pay a USD 1 million bonus upon a NI 43-101 resource being published, which estimates the San Dimas Claims contain a minimum of 70 million silver equivalent ounces or 1 million gold ounces in the measured or indicated categories.

The shares are subject to a four month hold period and the agreement is subject to the approval of the TSX Venture Exchange. Regency verification samples were submitted to Laboratorio Technologia de Metallurgia's (LTM) analytical facility in Hermosillo, Mexico for preparation and analysis. LTM is ISO 9001 and ISO/IEC 17025 certified and all analytical methods include quality control materials at set frequencies with established data acceptance criteria.

Samples were analyzed by LTM with a standard fire assay using 30 gm samples. Gold was analyzed using absorption spectrometry (AA 240 FS) and silver by gravimetrics.