Friday, November 26, 2021


Silver Viper Minerals : MD&A Q3 2021

SILVER VIPER MINERALS CORP. INTERIM REPORT TO SHAREHOLDERS For the 9 Months…

By Staff , in Silver , at November 25, 2021







SILVER VIPER MINERALS CORP.

INTERIM REPORT TO SHAREHOLDERS

For the 9 Months Ended September 30, 2021

(Expressed in Canadian {Dollars} – Unaudited)

SILVER VIPER MINERALS CORP.

FORM 51-102F1 – MANAGEMENT’S DISCUSSION AND ANALYSIS (“MD&A”)

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2021

The next dialogue and evaluation must be learn together with the condensed consolidated interim monetary statements of Silver Viper Minerals Corp. (the “Firm”) for the 9 months ended September 30, 2021 and 2020, and associated notes thereto, which have been ready beneath Worldwide Monetary Reporting Requirements (“IFRS”) as issued by the Worldwide Accounting Requirements Board. All quantities are said in Canadian {dollars} until in any other case famous.

Additional data concerning the Firm and its operations are filed electronically on the System for Digital Doc Evaluation and Retrieval (“SEDAR”) in Canada and might be obtained from www.sedar.com.

Date

This administration dialogue and evaluation is dated November 25, 2021 and is in respect of the 9 months ended September 30, 2021.

Administration’s Accountability for Monetary Reporting

The accompanying condensed consolidated interim monetary report for the 9 months ended September 30, 2021 has been ready by administration utilizing accounting insurance policies per Worldwide Monetary Reporting Requirements (“IFRS”). Different data contained on this doc has additionally been ready by administration and is per the info contained within the condensed consolidated interim monetary statements.

The certifying officers of the Firm, based mostly on their information, having exercised affordable diligence, are additionally accountable to make sure that the monetary report and MD&A (collectively the “filings”) don’t include any unfaithful assertion of a cloth truth or omit to state a cloth truth required to be said or that’s essential to make a press release not deceptive in gentle of the circumstances beneath which it was made, with respect to the interval coated by these filings, and the consolidated monetary report along with the opposite monetary data included in these filings pretty current in all materials respects the monetary situation, monetary efficiency and money flows of the Firm, as of the date of and for the intervals offered in these filings.

The Board of Administrators approves the monetary report along with the opposite monetary data included within the submitting and ensures that administration has discharged its monetary duties. The Board’s evaluation is achieved principally by the Audit Committee, which meets periodically to evaluation all company filings previous to submitting.

Sure statements on this report might represent forward-looking statements which are topic to dangers and uncertainties. A variety of essential elements might trigger precise outcomes and outcomes to vary materially from these expressed in these forward-looking statements. Consequently, readers shouldn’t place any undue reliance on such forward-looking statements. As well as, these forward-looking statements relate to the date on which they have been made.

Specifically, ahead trying feedback concerning each the Firm’s plans and operations included within the “Firm Overview” with respect to administration’s deliberate exploration and different actions, and in “Liquidity”, and “Outcomes of Operation” concerning administration’s estimated capacity to fund its projected prices of exploration work and basic company prices of operations, and its capacity to lift further funding by placement of the Firm’s widespread shares, are plans and estimates of administration solely and precise outcomes and outcomes could possibly be materially totally different.

In March 2020, the World Well being Group declared coronavirus COVID-19 a world pandemic. This contagious illness outbreak, which has continued to unfold, and any associated hostile public well being developments, has adversely affected workforces, economics, and monetary markets globally, doubtlessly resulting in an financial downturn. It’s not potential for the Firm to foretell the period or magnitude of the hostile outcomes of the outbreak and its results on the Firm’s enterprise or outcomes of operations presently.

1

SILVER VIPER MINERALS CORP.

INTERIM REPORT TO SHAREHOLDERS

For the 9 Months Ended September 30, 2021

(Expressed in Canadian {Dollars} – Unaudited)

Firm Overview

The Firm was included beneath the Enterprise Firms Act (British Columbia) on April 26, 2016, with the identify Silver Viper Minerals Corp. The Firm accomplished an Preliminary Public Providing (“IPO”) on September 27, 2017 and the Firm’s widespread shares have been listed for buying and selling on the TSX Enterprise Trade (“TSXV”). The Firm can be listed on the on the OTCQB beneath the buying and selling image VIPRF.

The Firm is engaged within the acquisition and exploration of mineral properties, as outlined under.

La Virginia Gold Silver Undertaking, Sonora, Mexico

La Virginia is an early-stageSilver-Gold Exploration Property positioned within the basin and vary province of jap Sonora, Mexico and initially comprised of six mineral concessions acquired by three separate agreements entered into throughout 2018. The 2 choice agreements concerning the Rubi-Esperanza group of three claims totaling 2,102 hectares have been signed in June, 2018 (the “Choice Agreements”). A second group of three concessions held by Pan American Silver Corp (“Pan American”), totaling 35,600 hectares was added to the property in December, 2018 when an choice settlement was signed (the “Pan American Settlement”). The Firm, has filed give up purposes over two claims, and a discount software for the third. The whole space of the venture now stands at 6,882 hectares in complete. The give up and discount purposes have been made with a purpose to scale back publicity to the excessive value of carrying mature mineral claims and the method was guided by outcomes and observations from the Firm’s regional exploration efforts. The Firm has not obtained official affirmation of reductions on the time of writing and will elect to additional scale back declare space sooner or later as exploration and geological information of the property advances. The La Virginia property consists of drill-tested mineralized constructions in addition to in depth further grass roots potential alongside development and as parallel zones.

The La Virginia property hosts an estimated mineral useful resource duly ready and reported by an impartial marketing consultant in accordance with the rules of the Canadian Securities Directors Nationwide Instrument 43-101; and has been estimated in conformity with typically accepted CIM “Estimation and Mineral Useful resource and Mineral Reserve Greatest Practices” pointers. The useful resource is detailed within the report “Technical Report on the La Virginia Precioius Steel Undertaking, Sonora, Mexico“, has an efficient date of Could 1, 2021, and is publicly accessible on each the SEDAR and the Firm’s web site. The report particulars an estimated Indicated mineral useful resource of 6.18 million tonnes grading 0.78 g/t gold and 35 g/t silver and an Inferred Mineral Useful resource of 10.10 million tonnes grading 0.80 g/t gold and 40 g/t silver from 5 discrete mineralized zones located on essentially the most potential mineralized development on the property.

The Property is characterised by laterally in depth epithermal-style,gold-silver mineralization in quartz stockworks, veins and hydrothermal breccias, hosted in andesites and felsic dykes. Mineralization is managed by constructions associated to the north-northwest regional development which controls the native basin and vary topography. Anomalous geochemical outcomes have been returned from these constructions alongside the size of the property. Historic mining actions within the core claims, evidenced by a number of underground workings, are developed on zones of elevated silica alteration and veining. The biggest historic workings, “La Virginia” and “Con Virginia” are nonetheless accessible and host mineralization ranging between one metre to better than 20 metres in thickness.

In early 2019 the Firm efficiently renegotiated the 2018 Rubi-Esperanza Choice Agreements and as such, the fee schedules contained within the 2018 Choice Agreements at the moment are outdated by these detailed within the 2019 paperwork (the “Amended Choice Agreements”) signed in June, 2019. The Rubi-Esperanza claims are owned by two teams of concession holders who negotiated as a collective, believing the worth of the mixed claims to be greater than the person concessions. Funds and royalties detailed under will probably be break up evenly between two agreements drafted, one for every get together detailing funds for 50% of the worth listed under.

The Amended Choice Agreements permit the Firm to earn a 100% undivided curiosity within the Rubi-Esperanza declare group by making money funds to the declare house owners totalling US$3,000,000 over a four-year interval from June, 2019 and ending in June, 2023. The Firm has made the primary fee of US$50,000, and the second fee of $US75,000. Subsequent funds of US$100,000, US$200,000 and US$2,575,000 are due on every anniversary. The ultimate fee should encompass US$1,200,000 in money and the rest might be in money or shares on the Firm’s discretion. Declare house owners will retain a 2% NSR royalty which can be bought by the Firm for US$2,000,000 inside 5 years of the efficient date, or for US$3,000,000 after the fifth anniversary.

2

SILVER VIPER MINERALS CORP.

INTERIM REPORT TO SHAREHOLDERS

For the 9 Months Ended September 30, 2021

(Expressed in Canadian {Dollars} – Unaudited)

Firm Overview (cont’d…)

La Virginia Gold Silver Undertaking, Sonora, Mexico (cont’d…)

Along with the Rubi-Esperanza claims, the Firm reported on February 5, 2018, that it had entered right into a non-binding Letter of Intent (“LOI”) to earn an undivided 100% curiosity in three further mineral claims held by Pan American totalling 35,598 hectares. The Pan American Settlement was signed on December 14, 2018. The claims described, encompass the Rubi-Esperanza group and are recognized to host comparable kinds of mineralization, each alongside extensions of recognized tendencies and in potential parallel zones. Along with buying the claims, the Pan American Settlement additionally gives the Firm entry to Pan American’s La Virginia drilling and geochemical databases, together with information from 52,635 metres of diamond drilling in 188 diamond drill holes throughout the Rubi-Esperanza declare group. Pan American will retain a 2% NSR royalty over the whole lot of the newly mixed La Virginia Property.

On September 20, 2018, the Firm commenced a mixed affirmation and exploration diamond drill program on the Rubi- Esperanza Claims. The proposed program was designed to complete 5,000 metres and would supply affirmation intercepts in areas of recognized mineralization and first go assessments on as but undrilled targets alongside the primary mineralized development. On the suspension of labor in mid-December 2018. This system accomplished preliminary assessments on 5 distinct prospect areas distributed alongside 11 kilometres of potential development for a complete of 4,753 metres in twenty holes. The prospect areas examined included, from south to north, El Huarache, Las Huatas, Con Virginia, El Rubi and La Gloria.

Important outcomes from all Part I drill holes are publicly accessible and have been reported in three information releases; dated November 15, 2018, January 17, 2019, and February 1, 2019. Outcomes from the drilling ranged from no vital intercepts in holes LV18-190 (Las Huatas prospect), LV18-196 and LV18-197 (La Gloria prospect), as much as a program greatest results of 13.3 metres (estimated true width 6.0 metres) averaging 3.16 g/t gold and 228 g/t silver from a downhole depth of 27.0 metres in gap LV18-201 (El Rubi prospect). Beforehand reported highlights from the 2018 drilling program embrace these from Las Huatas affirmation drilling with a greatest results of 18.0 metres (12.6 metres estimated true width) averaging 1.04 g/t Au and 79 g/t Ag from 178 metres in gap LV18- 192.

In November 2019, drilling and geological crews commenced a Part II diamond drilling program. This system was paused in late March 2020 as a result of COVID-19 international pandemic and restarted late July 2020 as soon as complete security protocols had been ready and enacted. The primary portion of Part II drilling comprised of an extra 6,955 metres in 24 holes throughout two prospects. This included a take a look at of the El Rubi discovery zone with 20 holes for a cumulative 6,103 metres, and close by exploration prospect Macho Libre which obtained 4 drill holes for a complete of 852 metres. Part II concluded on the minimize off level for information used within the 43- 101 mineral useful resource estimate. Drilling from this section totaled 102 holes for 27,912 metres. Part III drilling is a continuation of Part II and is aimed toward testing exploration targets in and across the El Rubi neighborhood. Area crews proceed to advance exploration by the use of geochemical sampling and geological mapping the Firm has, thus far, drilled a complete of 125 holes on the property for a mixed complete of 37,810 metres.

Important outcomes launched from the primary months of Part II are documented within the Firm’s information releases dated January 13, 2020, February 12, 2020, February 26, 2020, March 30, 2020 and April 22, 2020. A information launch dated July 16, 2020 particulars first outcomes from the renewed marketing campaign and is supported by information releases dated August 26, 2020, December 15, 2020, March 1, 2021 and March 10, 2021.

3

SILVER VIPER MINERALS CORP.

INTERIM REPORT TO SHAREHOLDERS

For the 9 Months Ended September 30, 2021

(Expressed in Canadian {Dollars} – Unaudited)

Firm Overview (cont’d…)

La Virginia Gold Silver Undertaking, Sonora, Mexico (cont’d…)

The information launch dated August 26, 2020 detailed ten drill holes, six from El Rubi and 4 from Macho Libre, and included an elongate interval from gap LV20-245, measuring 110 metres downhole core size averaging 38 g/t Ag and 0.76 g/t Au. The interval included a higher-grade zone which averaged 5 metre downhole core size of 353 g/t Ag and seven.98 g/t Au. The estimated true width of this interval was interpreted as 50% of the core size although the precise orientation has not but been confirmed. The broad interval first intercepted in gap LV20-245 is referred to by the Firm because the “Western Zone”. Subsequent drilling to check this newly recognized Western Zone resulted in further drilling to focus on this incidence. The Western Zone seems to be a broad zone of fantastic quartz stockwork hosted by an andesitic agglomerate/volcaniclastic sequence throughout the footwall block of the northwest/southeast trending El Rubi breccia/fault zone.

Greatest outcomes from Part II program embrace two metres (estimated true width 1.14 metres) averaging 15.55 g/t gold and 1436 g/t silver from a depth of 270.5 metres in gap LV20-217 and eight metres (estimated true width 5.04 metres) averaging 9.15 g/t gold and 569 g/t silver from a depth of 192 metres in gap LV20-218. Just lately, beneficial outcomes embrace the venture greatest gap LV21-289 which intercepted vital intervals from each the Western Zone and the El Rubi construction. The primary, broad intercept was encountered from 280.5 metres downhole, averaging 18g/t silver and 0.69 g/t gold over 130m (estimated 80.1 metres in true width) positioned above an intercept of the El Rubi construction which averaged 363 g/t silver and 21.2 g/t gold over a downhole size of 19.30 metres (estimated true width 11.89 metres) beginning at 418.20 metres downhole. The best particular person pattern from this gap was 429.5-430.0 metres downhole (0.5 metres) of 10,681 g/t silver and 738 g/t gold over an estimated true width of 0.31 metres.

Exploration targets in El Rubi embrace El Rubi North (positioned alongside the Rubi development) and El Rubi East (positioned alongside a parallel development,

1.5 kilometres east of Rubi, additionally recognized regionally as El Molino), each prospects are throughout the basic goal space of El Rubi. Latest exploration actions have recognized further targets centred on flexures of the El Molino development. The targets Paredones and La Colmena are positioned 800 metres and a pair of,700 metres north-northwest of El Molino alongside the identical development. The primary drillhole (LV21- 323) of an preliminary 6-hole take a look at at Paredones commenced early November 2021.

Area crews proceed to advance geological mapping and sampling alongside the Molino development, specifically the hole between Paredones and El Molino which reveals proof of an extra flexure in the primary construction. Additional targets will probably be added as they’re refined by the continuing work.

A project-wide, airborne LiDAR (Mild Detection and Ranging) survey was flown in March of 2021. The ensuing deliverables embrace a geo-referenced orthophoto of the whole venture and a DEM (Digital Elevation Mannequin) offering a useful exploration instrument, and was additionally used to offer correct topographic reference within the venture’s maiden useful resource estimate.

The Firm has engaged Quantec Geoscience to execute a TITAN-160deep-penetrating geophysical survey centered over the El Rubi Deposit. The survey goals to probe to depth, the sub-surface at El Rubi and is predicted to help in designing a future drill marketing campaign to check deeper parts of the mineralized system. The TITAN-160 survey will acquire DC resistivity and Induced Polarization (“DCIP”) and Magnetotelluric (“MT”) information. The DCIP element of this survey is predicted to offer certified information to a depth of 750 metres under floor, whereas the MT can obtain depths in extra of 1500 metres under floor. Along with the primary IP program the Firm might embrace two reconnaissance strains of DCIP, one at Rubi North, and one at Macho Libre. The survey is now anticipated to start in January 2022.

4

SILVER VIPER MINERALS CORP.

INTERIM REPORT TO SHAREHOLDERS

For the 9 Months Ended September 30, 2021

(Expressed in Canadian {Dollars} – Unaudited)

Firm Overview (cont’d…)

La Virginia Gold Silver Undertaking, Sonora, Mexico (cont’d…)

On Could 3, 2021, the Firm introduced the primary NI 43-101 mineral useful resource on La Virginia Silver-Gold Undertaking in Sonora, Mexico. The useful resource estimate contains of 5 discrete deposits together with El Rubi. The mineral useful resource estimate relies upon drilling accomplished by the Firm between 2018 and 2021 and by earlier operators between 2010 and 2013 and has an efficient date of Could 1, 2021. The useful resource estimate desk is detailed under. The Firm filed the report with SEDAR and it’s publicly accessible from that supply and from the Firm’s web site.

Capped

Capped

Deposit

Methodology

Class

Tonnes

Au

Ag

Au Oz

Ag Oz

(g/t)

(g/t)

El Rubi

Open pit

Indicated

6,179,000

0.78

35

154,300

6,928,900

Whole

Open Pit

Indicated

6,179,000

0.78

35

154,300

6,929,000

El Rubi

Open pit

Inferred

3,255,000

0.90

36

94,100

3,750,000

Con Virginia

Open Pit

Inferred

3,279,000

0.66

36

69,500

3,837,800

El Oriental

Open Pit

Inferred

91,000

1.47

28

4,300

81,900

Las Huatas

Open Pit

Inferred

3,169,000

0.76

47

77,300

4,749,900

Las Huatas S

Open Pit

Inferred

83,000

0.40

26

1,100

70,200

Whole

Open pit

Inferred

9,877,000

0.78

39

246,300

12,489,800

Con Virginia

Underground

Inferred

39,000

1.52

121

1,900

152,700

El Oriental

Underground

Inferred

25,000

2.11

47

1,700

37,000

Las Huatas

Underground

Inferred

152,000

1.90

51

9,300

249,800

Las Huatas S

Underground

Inferred

11,000

3.19

34

1,100

12,000

Whole

Underground

Inferred

227,000

1.92

62

14,000

451,500

Whole

Indicated

6,179,000

0.78

35

154,300

6,929,000

Whole

Inferred

10,104,000

0.80

40

260,300

12,941,300

  1. Mineral Sources which aren’t Mineral Reserves, shouldn’t have demonstrated financial viability.
  2. The estimate of Mineral Sources could also be materially affected by environmental, allowing, authorized, title, taxation, socio-political, advertising, or different related points.
  3. The Inferred Mineral Useful resource on this estimate has a decrease stage of confidence than that utilized to an Indicated Mineral Useful resource and should not be transformed to a Mineral Reserve. It’s fairly anticipated that almost all of the Inferred Mineral Useful resource could possibly be upgraded to an Indicated Mineral Useful resource with continued exploration.
  4. The Mineral Sources have been estimated utilizing the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Requirements on Mineral Sources and Reserves, Definitions and Pointers ready by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council.

A brief description of chosen targets on the venture as follows.

El Huarache – A beforehand undrilled goal space roughly 300-400 metres vast by 1,000 metres lengthy characterised by a collection of NNW putting felsic dykes with coincident silicification, veining and, in some areas, anomalous gold and silver values. To this point little or no work has been accomplished on this space. The one gap drill take a look at throughout 2018 returned some mineralization. Observe up prospecting and geochemistry is beneficial.

5

That is an excerpt of the unique content material. To proceed studying it, entry the unique doc right here.

Disclaimer

Silver Viper Minerals Corp. revealed this content material on 25 November 2021 and is solely accountable for the knowledge contained therein. Distributed by Public, unedited and unaltered, on 25 November 2021 20:09:04 UTC.

Publicnow 2021

All information about SILVER VIPER MINERALS CORP.

Gross sales 2020

Internet earnings 2020 -7,86 M
-6,21 M
-6,21 M
Internet money 2020 2,52 M
1,99 M
1,99 M
P/E ratio 2020 -3,92x
Yield 2020
Capitalization 45,2 M
35,7 M
35,7 M
EV / Gross sales 2019
EV / Gross sales 2020
Nbr of Staff
Free-Float 90,9%

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