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Denarius Silver Signs New Letter of Intent for Acquisition of the Lomero Project, Spain

VANCOUVER, BC, Feb. 25, 2021 /CNW/ -A Denarius Silver Corp. ("Denarius Silver" or the "Company") (TSXV: DSLV.H), is pleased to announce that it has entered into a binding letter agreement dated effective February 22, 2021 (the "Letter Agreement"), with Qvartz Capital Partners Inc. ("Qvartz") as assignor and the shareholders of Transcontinental Gold Mines Pty Ltd., a company organized under the laws of Australia ("TGM" and such shareholders, collectively, the "Vendors") for the purchase of 100% of the issued and outstanding shares of TGM (the "Transaction"), which in turn owns 100% of the issued and outstanding shares of Alto Minerals S.L.U., a company organized and existing under the laws of the Kingdom of Spain ("Alto"), in order to acquire, subject to the terms and conditions of the Letter Agreement, a 100% interest in the Investigation Permit NA? 14,977 also identified as Rubia (the "Permit") covering the areas occupied by the former Lomero-Poyatos Concessions and the mine within them in southern Spain ("the "Lomero Project").Lomero ProjectInvestigation Permit 14,977 comprises 15 graticular blocks totalling approximately 454 hectaresA  within the adjoining Municipalities of El Cerro del Andevalo and Cortegana within the Huelva Province of the Autonomous Community of AndalucA­a in southern Spain. The area covered by the Permit is located approximately 85 km north-west of Seville and 60 km north-east of the port of Huelva and includes the area previously occupied by 13 mining concessions including the former Lomero-Poyatos Mine. The Rubia Permit is an Investigative Mining Permit of approximately 454 hectares covering the Lomero-Poyatos Project which is a polymetallic deposit A located in the Huelva Province in Southern Spain, within the Iberian Pyrite Belt which is one of the largest districts of pyrite-rich massive sulphide deposits in the world. The project deposit site is well serviced by water, power, paved highways, port access and is also positioned A in close proximity to the Matsa JV project which has processing facilities with the capacity to process 4.4M tons of copper and polymetallic ore annually. Exploration conducted by prior ownership indicates a historical inferred resource of 22.17 Mt of 3.08 g/t gold, 62.38 g/t silver, 0.90% copper, 0.85% lead and 3.05% zinc. The mineral resource is reported within a >25% S mineral envelope at a cut-off grade of 1.0 g/t Au for an underground mining scenario. The mineral resource estimate was reported in a NI 43-101 technical report by Behre Dolbear with effective date of 2011. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves, and the Company is not treating the historical estimate as current mineral resources or mineral reserves. A The Lomero-Poyatos (Rubia Permit) deposit remains open at depth and along strike and SRK has been contracted to design an exploration program to confirm the inferred resource base and further explore the potential at Lomero-Poyatos (Rubia Permit).A A A  Terms of the Transaction
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