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2019

Dec 06

San Marco Revises Flow Through Share Private Placement

By 2019

Vancouver, British Columbia – December 6, 2019 -San Marco Resources Inc. (TSX-V: SMN) announces that it has revised its non-brokered flow through private placement announced October 9, 2019. The private placement now consists of 266,667 shares at a price of $0.15 each. The shares will qualify as “flow-through” shares under the Income Tax Act (Canada).

About San Marco

San Marco is a Canadian mineral exploration company actively pursuing world class gold, silver, zinc and copper projects with a focus in mining friendly jurisdictions in both British Columbia, Canada and Mexico.

The Company’s principal focus and asset is the recently optioned Buck Property in north-central British Columbia that has large tonnage gold-silver-zinc potential in a mining-friendly region that includes many former and current operating mines. In addition, the Company’s portfolio includes the several prospective, early stage exploration properties in Mexico.

For further information, contact:

Robert Willis, P. Eng.
Executive Director

Sharyn Alexander, M.Sc.
VP Technical Services

info@sunsummitminerals.com

Forward Looking Information

Information set forth in this document may include forward-looking statements. While these statements reflect management’s current plans, projections and intents, by their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the control of San Marco Resources Inc. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on these forward-looking statements. San Marco’s actual results, programs, activities and financial position could differ materially from those expressed in or implied by these forward-looking statements.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

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Dec 05

San Marco Retains Momentum Public Relations Inc. for Strategic Business Development

By 2019

Vancouver, B.C. – December 5, 2019: San Marco Resources Inc. (TSX-V: SMN) (“San Marco” or the “Company”) is pleased to announce that it has retained Momentum Public Relations Inc. (“Momentum”) to assist with strategic business development activities.

Momentum, a Montreal, Quebec based public relations firm, will assist the Company in increasing public awareness by managing the Company’s corporate communications and marketing activities and facilitating dialogue with the Company’s shareholders, finance professionals, analysts and media contacts within the North American investment community.

Max Gagne-Godbout, Momentum’s President, commented: “We are proud to add San Marco to our umbrella of carefully chosen mining clients. The San Marco team comprises experts with impressive track records. We are confident in their ability to enhance shareholder value by developing current assets, as well as adding new opportunities, which they are actively involved.”

The agreement with Momentum has a term of 12 months at $8,500 per month. After the initial 4-month period, either party may terminate the agreement on 30 days written notice without penalty. Under the agreement, the Company will grant Momentum a stock option to purchase 150,000 shares for a period of one year exercisable at the market price per share at the time of granting. The option will vest quarterly on granting, and three, six, and nine months after granting pursuant to the terms of the Company’s stock option plan.

The agreement with Momentum is subject to approval by the TSX Venture Exchange.

About Momentum

Momentum assists public companies in distributing their messaging to target audiences within the North American investment community. Through a national network of institutional investors, analysts and financial media relationships, the team may communicate the clients’ value drivers, growth potential and development vision clearly and efficiently. The experienced team of communications specialists work closely with senior management to build campaign objectives and market activity while executing on a long-term investor relations strategy and respond to immediate changes.

About San Marco

San Marco is a Canadian mineral exploration company actively pursuing world class gold, silver, zinc and copper projects with a focus in mining friendly jurisdictions in both British Columbia, Canada, and Mexico.

The Company’s principal focus and asset is the recently optioned Buck Property in north-central British Columbia that has large tonnage gold-silver-zinc potential in a mining-friendly region that includes many former and current operating mines. In addition, the Company’s portfolio includes the several prospective, early stage exploration properties in Mexico.

For further information, contact:

Robert Willis, P. Eng.
Executive Director

Sharyn Alexander, M.Sc.
VP Technical Services

info@sunsummitminerals.com

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

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Dec 03

Buck Property Update and Engagement of Mackie Research Capital Corporation

By 2019

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES OF AMERICA

Vancouver, B.C. – December 3, 2019: San Marco Resources Inc. (TSX-V: SMN) (“San Marco” or the “Company”) is pleased to announce that the historical data review nears completion on the Buck gold/silver/zinc property near Houston, B.C. This database, which is the consolidation of several millions of dollars of exploration work by previous property owners over the past 75 years, is proving to be invaluable in defining new drill targets.

Mineralized volcanic breccia-hosted near-surface historical drill intercepts1 have been identified over an area of approximately 0.5 km2, including:

  • 30.75 m at 2.70 grams per ton (“g/t”) gold within 143.33 m at 0.75 g/t gold (Hole 84-13);
  • 27.43 m at 2.74 g/t gold within 91.4 m at 0.93 g/t gold (Hole 68-4);
  • 12.19 m at 2.58 g/t gold within 170.68 m at 0.61 g/t gold (Hole 04-01); and
  • 26.5 m at 2.50 g/t gold within 265.86 m at 0.65 g/t gold (Hole 88-02).

Recent re-logging of drill core for one historical hole indicates a possible diatreme geological environment. Dr. David Bailey, San Marco’s consultant for the Buck property, is currently completing a detailed analysis of the alteration patterns relating to gold distribution, which will greatly assist in target generation.

Sharyn Alexander, V.P. Technical Services, stated: “The massive amount of historical data has taken quite a while to review and evaluate. With this process nearing completion, some very exciting drill targets are evolving. We look forward to commencing our exploration program early in the new year, as the Buck property allows for year round exploration and has excellent infrastructure.”

For an overview of historic drilling and our exploration strategy, please click here: https://sunsummit.wpengine.com/site/assets/files/2334/20191202_smn_december.pdf

San Marco is also pleased to announce that it has retained Mackie Research Capital Corporation (“Mackie”) to provide market stabilization and liquidity services to the Company in compliance with the policies and guidelines of the TSX Venture Exchange and other applicable legislation.

Mackie will trade shares of San Marco on the TSX-V for the purposes of maintaining a reasonable market and improving the liquidity of San Marco common shares. The agreement between Mackie and the Company is for a minimum of six months and the Company has agreed to pay Mackie $4,500 per month during the term, payable quarterly in advance. After the initial six month period, the engagement may be terminated by either party with written notice of 30 days. The Company and Mackie act at arm’s length, but Mackie may provide investment banking services to San Marco, and Mackie and its clients may have an interest, directly or indirectly, in the securities of San Marco. There are no performance factors contained in the agreement, and Mackie will not receive any shares or options from the Company as compensation for services it will render.

About Mackie Research Capital Corporation

Mackie is one of Canada’s largest independent full-service investment firms, and proudly traces its roots back to 1921. Mackie is privately owned by many of its 300 employees. As a fully integrated national investment dealer, Mackie offers a full complement of capital markets and wealth management services to private clients, institutions and growth companies.

About San Marco

San Marco is a Canadian mineral exploration company actively pursuing world class gold, silver, zinc and copper projects with a focus in mining friendly jurisdictions in both British Columbia, Canada, and Mexico.

The Company’s principal focus and asset is the recently optioned Buck Property in north-central British Columbia that has large tonnage gold-silver-zinc potential in a mining-friendly region that includes many former and current operating mines. In addition, the Company’s portfolio includes the several prospective, early stage exploration properties in Mexico.

For further information, contact:

Robert Willis, P. Eng.
Executive Director

Sharyn Alexander, M.Sc.
VP Technical Services

info@sunsummitminerals.com

National Instrument 43-101 Disclosure

This news release has been approved by San Marco’s Executive Director, Robert D. Willis, P. Eng. a “Qualified Person” as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. He has verified the data disclosed, including sampling, analytical and test data, underlying such technical information by reviewing the data and reports from previous exploration of the property which he believes to be accurate and were provided to San Marco by the optionors.

Forward Looking Information

Information set forth in this document may include forward-looking statements. While these statements reflect management’s current plans, projections and intents, by their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the control of San Marco Resources Inc. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on these forward-looking statements. San Marco’s actual results, programs, activities and financial position could differ materially from those expressed in or implied by these forward-looking statements.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

1 The drill results were obtained from parties that previously explored the property. The Company believes the drill hole intercepts to be accurate and comply with industry best practices at the time of drilling.

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Nov 21

San Marco Closes $448,000 Non-brokered Unit Private Placement

By 2019

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES OF AMERICA

Vancouver, B.C. – November 21, 2019: San Marco Resources Inc. (TSX-V: SMN) (“San Marco” or the “Company”) has completed the sale of 3,738,334 units at $0.12 per unit for gross proceeds of $448,600 under its non-brokered unit private placement announced September 26, 2019. Each unit was comprised of one share and one warrant to purchase one common share for three years at a price of $0.20 for the first two years and $0.25 for the third year. The Company paid 6% finders fees in cash ($12,096) or units (24,000) and 6% finder warrants (124,800), each finder warrant exercisable to purchase one share for $0.12 for one year, to Haywood Securities Inc., Canaccord Genuity Corp. and PI Financial Corp.

The shares issued and issuable on exercise of the warrants are subject to a restricted resale period until March 22, 2020.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration requirement is available.

About San Marco

San Marco is a Canadian mineral exploration company actively pursuing world class gold, silver, zinc and copper projects with a focus in mining friendly jurisdictions in both British Columbia, Canada and Mexico.

The Company’s principal focus and asset is the recently optioned Buck Property in north-central British Columbia that has large tonnage gold-silver-zinc potential in a mining-friendly region that includes many former and current operating mines. In addition, the Company’s portfolio includes the several prospective, early stage exploration properties in Mexico.

For further information, contact:

Robert Willis, P. Eng.
Executive Director

info@sunsummitminerals.com

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

San Marco Closes $448,000 Non-brokered Unit Private Placement

Nov 08

San Marco Revises Terms of Non-Brokered Unit Private Placement and Closes Subscription Books for Unit and Flow Through Share Private Placements

By 2019

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES OF AMERICA

Vancouver, B.C. – November 8, 2019: San Marco Resources Inc. (TSX-V: SMN) (“San Marco” or the “Company”) announces that it has revised the terms of its non-brokered unit private placement announced September 26, 2019. The private placement now consists of 3,138,334 units at a price of $0.12 per unit for gross proceeds of C$ 376,600. Each unit will be comprised of one share and one warrant to purchase one common share for three years at a price of $0.20 for the first two years and $0.25 for the third year. The Company will pay finders fees in cash and finders warrants (each now exercisable to purchase one share for $0.12 for one year) to eligible finders in accordance with the policies of the TSX Venture Exchange.

Under the revised terms, the non-brokered placement is now fully subscribed and Exchange approval is now being sought to complete the placement. Closing is anticipated to occur on or about November 15, 2019.

The subscription book for the flow through share financing, announced October 9, 2019, has also closed. San Marco has received subscriptions for 200,000 flow through shares at a price of $0.20 per flow through share, for gross proceeds of $40,000.

San Marco also announces the appointment of Sharyn Alexander to the position of Vice-President, Technical Services. Sharyn holds a M.Sc. (Geology) degree from the University of Toronto and prior experience includes positions at B2Gold, Barrick Gold (Australia), and SRK Consulting. Her diversified skillset includes GIS and data management, geological modelling, project evaluation, technical writing, and providing support to business development initiatives.

Bob Willis, San Marco’s Executive Director stated: “We are extremely pleased to have Sharyn join the San Marco team. With exploration activities ramping up at our recently acquired Buck gold-silver property in north central B.C., Sharyn will be involved in all aspects of Buck’s exploration, as well as evaluating new opportunities, corporate development and marketing“.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration requirement is available.

About San Marco

San Marco is a Canadian mineral exploration company actively pursuing world class gold, silver, zinc and copper projects with a focus in mining friendly jurisdictions in both British Columbia, Canada and Mexico.

The Company’s principal focus and asset is the recently optioned Buck Property in north-central British Columbia that has large tonnage gold-silver-zinc potential in a mining-friendly region that includes many former and current operating mines. In addition, the Company’s portfolio includes the several prospective, early stage exploration properties in Mexico.

For further information, contact

Robert Willis, P. Eng.
Executive Director

info@sunsummitminerals.com

National Instrument 43-101 Disclosure

This news release has been approved by San Marco’s CEO, Robert D. Willis, P. Eng. a “Qualified Person” as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. He has verified the data disclosed, including sampling, analytical and test data, underlying such technical information by reviewing the assay reports provided to San Marco by its independent testing laboratory.

Forward Looking Information

Information set forth in this document may include forward-looking statements. While these statements reflect management’s current plans, projections and intents, by their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the control of San Marco Resources Inc. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on these forward-looking statements. San Marco’s actual results, programs, activities and financial position could differ materially from those expressed in or implied by these forward-looking statements.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

San Marco Revises Terms of Non-Brokered Unit Private Placement and Closes Subscription Books for Unit and Flow Through Share Private Placements

Oct 09

San Marco to Raise $ 0.5 Million In Flow-through Private Placement

By 2019

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES OF AMERICA

Vancouver, B.C. – October 9, 2019: San Marco Resources Inc. (SMN: TSX-V) announces that it intends to complete a private placement for gross proceeds of up to $500,000 through the issuance of up to 2,500,000 shares at a price of $0.20 each. The shares will qualify as “flow-through” shares under the Income Tax Act (Canada).

The proceeds of the private placement will be used to incur “Canadian Exploration Expenses” on the exploration on the Buck property which qualify as “Flow-Through Mining Expenditures” under the Income Tax Act. Such expenditures will be renounced to subscribers effective December 31, 2019.

The Company may pay finders fees in cash and finders warrants (each exercisable to purchase one share for $0.20 for one year) to eligible finders in accordance with the policies of the TSX Venture Exchange.

All the securities issued and issuable pursuant to this private placement will be subject to a four month restricted resale period. Completion of the offering is subject to receipt of approval from the TSX Venture Exchange.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration requirement is available.

About San Marco

San Marco is a Canadian mineral exploration company actively pursuing world class gold, silver, zinc and copper projects with a focus in mining friendly jurisdictions in both British Columbia, Canada and Mexico.

The Company’s principal focus and asset is the recently optioned Buck Property in north-central British Columbia that has large tonnage gold-silver-zinc potential in a mining-friendly region that includes many former and current operating mines. In addition, the Company’s portfolio includes the several prospective, early stage exploration properties in Mexico.

For further information, contact:

Robert Willis, P. Eng.
Executive Director

info@sunsummitminerals.com

Forward Looking Information

Information set forth in this document may include forward-looking statements. While these statements reflect management’s current plans, projections and intents, by their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the control of San Marco Resources Inc. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on these forward-looking statements. San Marco’s actual results, programs, activities and financial position could differ materially from those expressed in or implied by these forward-looking statements.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

San Marco to Raise $ 0.5 Million In Flow-through Private Placement
Sep 26

San Marco to Raise $1.05 Million Through Non-brokered Private Placement

By 2019

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES OF AMERICA

Vancouver, B.C. – September 26, 2019: San Marco Resources Inc. (SMN: TSX-V) announces that it intends to complete a non-brokered private placement to raise gross proceeds up to C$ 1,050,000.

The private placement will consist of up to 7,000,000 units at a price of $0.15 per unit. Each unit will consist of one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one common share for three years at a price of $0.20 for the first two years and $0.25 for the third year.

The placement will be sold to qualified investors, including shareholders of record resident in Canada on September 24, 2019. Such shareholders are eligible to purchase up to $15,000 worth of units without an investment dealer or more than $15,000 worth with suitability advice from a registered investment dealer. If, after deducting subscriptions from qualified investors, the subscriptions from existing shareholders exceed the remaining units available, such remaining units will be sold to the existing shareholders in proportion to the number of units subscribed for by them.

The Company may pay finders fees in cash and finders warrants (each exercisable to purchase one share for $0.15 for one year) to eligible finders in accordance with the policies of the TSX-V.

Proceeds of the private placement will be used for funding exploration of the Buck property, consisting primarily of drilling (approximately $500,000), general exploration for high quality gold/silver properties in B.C. (approximately $200,000) and working capital (approximately $350,000).

All the securities issued pursuant to this private placement will be subject to a four month restricted resale period. Completion of the offering is subject to receipt of approval from the TSX Venture Exchange.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration requirement is available.

About San Marco

San Marco is a Canadian mineral exploration company actively pursuing world class gold, silver, zinc and copper projects with a focus in mining friendly jurisdictions in both British Columbia, Canada and Mexico.

The Company’s principal focus and asset is the recently optioned Buck Property in north-central British Columbia that has large tonnage gold-silver-zinc potential in a mining-friendly region that includes many former and current operating mines. In addition, the Company’s portfolio includes the several prospective, early stage exploration properties in Mexico.

For further information, contact:

Robert Willis, P. Eng.
Executive Director

info@sunsummitminerals.com

National Instrument 43-101 Disclosure

This news release has been approved by San Marco’s CEO, Robert D. Willis, P. Eng. a “Qualified Person” as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. He has verified the data disclosed, including sampling, analytical and test data, underlying such technical information by reviewing the assay reports provided to San Marco by its independent testing laboratory.

Forward Looking Information

Information set forth in this document may include forward-looking statements. While these statements reflect management’s current plans, projections and intents, by their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the control of San Marco Resources Inc. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on these forward-looking statements. San Marco’s actual results, programs, activities and financial position could differ materially from those expressed in or implied by these forward-looking statements.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

San Marco to Raise $ 1.05 Million Through Non-brokered Private Placement
Sep 24

San Marco Prepares Buck Property for Drilling

By 2019
Vancouver, B.C. – September 24, 2019: San Marco Resources Inc. (SMN: TSX-V) announces that its exploration activities on the recently 100% optioned Buck gold/silver property are continuing in preparation for drilling. Drilling will commence upon receipt of a drill permit (for which an application has already been made).The Buck property is located approximately 15 km south of Houston B.C. and has excellent road access enabling year-round exploration. Historical exploration includes drilling, ground and airborne geophysics, soil and rock chip grid sampling. San Marco’s geologists have compiled all available data, generated a 3-D model of historical drill assays, re-logged what little drill core is available and completed a reinterpretation of exploration potential.San Marco believes that mineralized drill core from previous exploration activities of others, indicates a breccia/diatreme (pipe) complex, which appears to be geologically similar to many multi-million ounce gold deposits worldwide. (See the corporate presentation on San Marco’s website for details.).Compelling exploration features on the Buck property include;

  • Surface gold/silver mineralization footprint 800m X 600m, open in all directions.
  • Mineralized breccia from surface to 250m (vertical) and open in depth. This is confirmed in the area where reasonable drill core was retrieved and re-logged.
  • All historical drill holes have strong to significant gold/silver mineralization, the majority of which end in mineralization.
  • Additional exploration targets exist on the ~15,000-ha property.
  • Excellent road access allows for year-round exploration.

Bob Willis, San Marco’s Executive Director states: “Acquisition of the Buck gold/silver project gives our exploration team an excellent opportunity to quickly create shareholder value through an aggressive drill program. Initial drilling, designed around our breccia/diatreme model, will step out from areas where we were able to retrieve historical drill core and identify long intercepts of mineralized breccia. Thanks to the efforts of previous explorers, none of whom focused on a breccia/diatreme model, we already know the main target area at Buck has the scale to accommodate a large gold resource. But we’re equally interested in the target because it’s still open in most directions and in Buck’s broader potential because there are other areas that present good, and untested, targets when viewed using the new breccia/diatreme model.”

About San Marco

San Marco is a Canadian mineral exploration company actively pursuing world class gold, silver, zinc and copper projects with a focus in mining friendly jurisdictions in both British Columbia, Canada and Mexico.

The Company’s principal focus and asset is its recently optioned Buck Property in north-central British Columbia that may have large tonnage gold-silver-zinc potential in a mining-friendly region that includes many former and current operating mines. In addition, the Company’s portfolio includes the several prospective, early stage exploration properties in Mexico.

For further information, contact:

Robert Willis, P. Eng.
Executive Director

info@sunsummitminerals.com

National Instrument 43-101 Disclosure

This news release has been approved by San Marco’s CEO, Robert D. Willis, P. Eng. a “Qualified Person” as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. He has verified the data disclosed, including sampling, analytical and test data, underlying such technical information by reviewing the assay reports provided to San Marco by its independent testing laboratory.

Forward Looking Information

Information set forth in this document may include forward-looking statements. While these statements reflect management’s current plans, projections and intents, by their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the control of San Marco Resources Inc. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on these forward-looking statements. San Marco’s actual results, programs, activities and financial position could differ materially from those expressed in or implied by these forward-looking statements.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

San Marco Prepares Buck Property for Drilling
Sep 16

San Marco’s Shareholders Approve 3:1 Share Consolidation San Marco Updates Option to Acquire Buck Gold-Silver Project

By 2019
Vancouver, B.C. – September 16, 2019: San Marco Resources Inc. (SMN: TSX-V) (“San Marco” or the “Company”) is pleased to advise as follows:

Share Consolidation

At a special general meeting of shareholders held today, its shareholders voted in favour of a special resolution to consolidate the Company’s shares on a three (old) into one (new) basis.

San Marco currently has 67,916,082 common shares issued and outstanding and, once the consolidation is completed, it will have 22,638,694 common shares issued and outstanding. The exercise price of outstanding incentive stock options to purchase 5,600,000 (1,866,667 post-consolidation) common shares will be increased accordingly to reflect the share consolidation. No fractional shares will be issued in the share consolidation. Instead, all resulting fractional shares of less than one-half will be rounded down to the nearest whole number, and of one-half or greater will be rounded up to the nearest whole number.

The effective date of the share consolidation is being set, in conjunction with the TSX Venture Exchange, to occur as soon as possible.

Buck Gold-Silver Project

The consolidation is a condition of San Marco’s option agreement to acquire a 100% interest in the Buck Property, an intermediate sulphidation, epithermal gold-silver zinc property near the town of Houston in north-central British Columbia, which it announced on July 16, 2019. The consolidation is expected to become effective shortly after receipt of TSX Venture Exchange approval for the consolidation.

Conditional approval of the Buck Property option has been received from the TSX Venture Exchange. Final approval is subject to the Exchange’s approval of the following which San Marco has submitted to the Exchange:

  • Geological report: An NI 43-101 report on the property prepared by Dr. David G. Bailey, P. Geo. The Exchange has provided comments on the report and they are being addressed by Dr. Bailey.
  • Financial plan: A financial plan to the Exchange under which San Marco will use its cash on hand to carry out the work program on the Property recommended in the NI 43-101 report and the maintenance costs on the Property for six months following the receipt of Exchange approval.
  • Title Opinion: The title opinion prepared by San Marco’s legal counsel.

About San Marco

San Marco is a Canadian mineral exploration company actively pursuing world class gold, silver, zinc and copper projects with a focus on mining friendly jurisdictions in both British Columbia, Canada and Mexico.

The Company’s principal focus and asset is the recently optioned Buck Property in north-central British Columbia that has large tonnage gold-silver-zinc potential in a mining-friendly region that includes many former and current operating mines. In addition, the Company’s portfolio includes the several prospective, early stage exploration properties in Mexico.

For further information, contact:

Robert Willis, P. Eng.
Executive Director

info@sunsummitminerals.com

National Instrument 43-101 Disclosure

This news release has been approved by San Marco’s Executive Director, Robert D. Willis, P. Eng. a “Qualified Person” as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. He has verified the data disclosed, including sampling, analytical and test data, underlying such technical information by reviewing the data and reports from previous exploration of the property which he believes to be accurate and were provided to San Marco by the optionors.

Forward Looking Information

Information set forth in this document may include forward-looking statements. While these statements reflect management’s current plans, projections and intents, by their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the control of San Marco Resources Inc. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on these forward-looking statements. San Marco’s actual results, programs, activities and financial position could differ materially from those expressed in or implied by these forward-looking statements.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

San Marco’s Shareholders Approve 3:1 Share Consolidation San Marco Updates Option to Acquire Buck Gold-Silver Project
Aug 15

San Marco Updates Status of Option to Acquire Buck Gold-Silver Project, Northern British Columbia

By 2019
Vancouver, B.C. – August 15, 2019: San Marco Resources Inc. (SMN: TSX-V) (“San Marco” or the “Company”) provides an update on its option agreement to acquire a 100% interest in the Buck Property, an intermediate sulphidation, epithermal gold-silver zinc property near the town of Houston in north-central British Columbia, which it announced on July 16, 2019.

Option Terms

By incurring at least $112,000 in exploration on the property by December 31, 2019, and making cash payments totalling $300,000 and issuing 4,000,000 shares to the optionors, Dick Billingsley, and his wife, Gaye Richards, by the fifth anniversary of the Exchange’s approval of the option agreement, San Marco will have exercised the option and earned a 100% interest in the Buck Property.

Once the option is exercised, San Marco must:

  • Grant the optionors a 2.5% net smelter returns royalty. The royalty can be reduced to 1.5% of net smelter returns by a payment of $2,500,000 to the optionors prior to the first anniversary of the commencement of commercial production.
  • Issue an additional 4,000,000 shares to the optionors upon the earlier of completion of a bankable feasibility study, the acquisition of more than 50% of the shares of the Company by a third party acquiror (or group of acquirors acting in concert) in a take-over bid or the eighth anniversary of the Effective Date.

TSX Venture Exchange Approval

Conditional approval of the option has been received from the TSX Venture Exchange. Final approval is subject to San Marco satisfying a number of conditions, including filing or obtaining the following:

  • Geological report: Dr. David G. Bailey, P. Geo has been commissioned to prepare an NI 43-101 report on the property. He has significant experience with the property and previous exploration carried out on it. The report is expected to be received in August at which time it will be provided to the Exchange for approval.
  • Financial plan: San Marco believes it has sufficient cash on hand to carry out the work program on the Property expected to be recommended in the NI 43-101 report and the maintenance costs on the Property for six months following the receipt of Exchange approval. Confirmation of same will be filed with the Exchange.
  • Title Opinion: A title opinion being prepared and sent to the Exchange.
  • Personal Information Forms: If the issuance of shares under the option would result in either or both of the optionors holding more than 10% of San Marco’s outstanding shares, such shares cannot be issued until the optionor has filed with, and the Exchange has accepted, a PIF.
  • Shareholder Approvals: A special general meeting of shareholders has been called for Monday, September 16, 2019 to approve the three into one share consolidation required under the terms of the option. Additionally, if the issuance of shares under the option would result in the optionors jointly holding more than 20% of San Marco’s outstanding shares, such shares cannot be issued until the change of control resulting therefrom has been approved by San Marco’s shareholders.

About San Marco

San Marco is a Canadian mineral exploration company actively pursuing world class gold, silver, zinc and copper projects with a focus on mining friendly jurisdictions in both British Columbia, Canada and Mexico.

The Company’s principal focus and asset is the recently optioned Buck Property in north-central British Columbia that has large tonnage gold-silver-zinc potential in a mining-friendly region that includes many former and current operating mines. In addition, the Company’s portfolio includes the Mexican properties Chunibas, Espiritu SMR, 1068 and Mariana projects in mining-friendly Sonora state while it pursues other district-scale opportunities.

For further information, contact:

Robert Willis, P. Eng.
Executive Director

info@sunsummitminerals.com

National Instrument 43-101 Disclosure
This news release has been approved by San Marco’s Executive Director, Robert D. Willis, P. Eng. a “Qualified Person” as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. He has verified the data disclosed, including sampling, analytical and test data, underlying such technical information by reviewing the data and reports from previous exploration of the property which he believes to be accurate and were provided to San Marco by the optionors.

Forward Looking Information

Information set forth in this document may include forward-looking statements. While these statements reflect management’s current plans, projections and intents, by their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the control of San Marco Resources Inc. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on these forward-looking statements. San Marco’s actual results, programs, activities and financial position could differ materially from those expressed in or implied by these forward-looking statements.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

San Marco Updates Status of Option to Acquire Buck Gold-Silver Project, Northern British Columbia