11:47 AM EDT, 09/04/2025 (MT Newswires) -- Silver Mountain Resources ( AGMWF ) Thursday said it has begun preparatory activities to restart operations at the past-producing underground silver mine, the Reliquias Project in Peru.

The company has signed a long-term land-use agreement with the local community, and recently raised $25 million in a closed public equity financing.

Preparatory works are expected to be completed by the end of the third quarter of next year, and include initiating mine development works, beginning major maintenance of the processing plant, and starting maintenance of the tailings facility.

"The commencement of preparatory activities at Reliquias represents a pivotal milestone for Silver Mountain. With rehabilitation successfully completed in 2024, we are now advancing into production preparations and building the foundation for our next phase of growth," said chief executive Alvaro Espinoza.

Silver Mountain shares are up $0.04, to $2.64, on the TSX Venture Exchange.

Price: 2.61, Change: +0.01, Percent Change: +0.38