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Enter Symbol
or Name
USA
CA



Hi Ho Silver Resources Inc (2)
Symbol HHS
Shares Issued 22,884,344
Close 2017-09-19 C$ 0.055
Market Cap C$ 1,258,639
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Hi Ho Silver acquires two million shares of Canamara

2017-09-19 11:14 ET - News Release

Mr. William Jorgenson reports

HI HO SILVER RESOURCES INC. ACQUIRES SIGNIFICANT INTEREST IN MAJOR TITANIUM LANDHOLDER, QUEBEC, CANADA

Hi Ho Silver Resources Inc. has acquired a significant indirect interest in an extensive land position covering approximately 17,000 hectares in the Allard Lake titanium belt of Quebec, Canada, from the private company Canamara Iron & Titanium Corp. In settlement of debt owed to Hi Ho, Canamera issued to the company a total of two million shares and warrants entitling the company to purchase up to two million additional shares of Canamera at an exercise price of 20 cents per share for three years. Canamera has been granted an option by the owners of the land position, with one additional payment of $125,000 to be paid to own the property outright, subject to a 5-per-cent royalty and a $1-million work commitment in the next year (2018).

William Jorgenson, chief executive officer of Hi Ho Silver, stated, "This acquisition provides Hi Ho a keynote participation within the titanium field for future evolution of the titanium industry." Canamara's large land position covers historically drilled titanium zones occurring as ilmenite in what has been termed the largest hard rock titanium belt in the world by Professor Bernard Charlier, department of geology, University of Liege, Belgium (Charlier et al., 2010).

Within the Allard Lake belt lies the largest high-grade hard rock titanium mine in the world, the Lac Tio deposit of Rio Tinto which has been in production since 1951, annually supplying 15 per cent to 17 per cent of the world's titanium. This deposit originally exceeded 200 million tonnes, of which approximately half has been produced to date.

Canamara's holdings in the district include a large number of claims with prospective titanium mineralization. Two main occurrences outcrop on the property holdings: one drilled historically in part and known in detail from extensive outcroppings, and another drilled in detail historically in addition to outcropping. Both have been studied historically with detailed gravity surveys. The exploration potential of these two targets is between 125 million to 150 million tonnes grading between 38 per cent and 42 per cent titanium and 35 per cent and 40 per cent iron.

Titanium is becoming a modern cinderella substance with the advent of 3-D printing of metal components and parts for aircraft usage and medical appliance applications. Titanium use in the aircraft industry is intensive with the majority of supply sourced in Russia and Ukraine. Titanium pigment use in paints requires 85 per cent of world production. Hi Ho is evaluating its continued role in the titanium field.

About Hi Ho Silver Resources Inc.

Hi Ho Silver Resources is a Vancouver-based mineral exploration company dedicated to the exploration and development of precious and base-metal mineral deposits in North America and elsewhere.

We seek Safe Harbor.

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