12:22 PM EST, 12/19/2024 (MT Newswires) -- Silver Mountain Resources ( AGMRF ) on Thursday said it received confirmation from Peru's Ministry of Energy and Mines that the Company's Reliquias Mine and Caudalosa Plant have been officially classified as ongoing mining operations.

This significant designation is the final governmental approval required for the company to restart production and processing operations.

"Our dedicated permitting and legal teams have worked tirelessly to ensure our commitment to revitalizing the Reliquias Mine," chief executive Alvaro Espinoza. "This recognition not only marks a pivotal moment for Silver Mountain but also underscores our contribution towards boosting the local economy. With the Reliquias Mine and Caudalosa Plant now recognized as active sites, we maintain our existing environmental permits, allowing us to recommence operations without further governmental approvals."

Silver Mountain shares were last seen up $0.005 to $0.045 on the TSX Venture Exchange.