Silver Viper Minerals Corp. (TSX-V: VIPR) (OTC: VIPRF) is pleased to announce that it has closed the first tranche  of its $3 million private placement announced on June 6, 2022, issuing 5,566,666 units of the Company at a price of $0.20 per Unit for aggregate gross proceeds of $1,113,333.

Each Unit consists of one common share and one-half of one common share purchase warrant. Each Warrant entitles the holder thereof to acquire one Share at the price of $0.30 per Share until June 9, 2024. The Shares and Warrants comprising the Units and any Shares issued upon the exercise of the Warrants are subject to a statutory hold period which expires on October 10, 2022.

The Company intends to use the net proceeds from the Offering for working capital requirements and other general corporate purposes. The Company anticipates closing the second and final tranche of the Offering on or about June 23, 2022.

The Company has agreed to pay a finder’s fee to certain finders in respect of those purchasers under the Offering introduced to the Company by such finder. In connection with the closing of the First Tranche, Silver Viper paid finder’s fees of $23,700 to Red Cloud Securities Inc., $16,800 to Haywood Securities Inc., $6,000 to Canaccord Genuity Corp., and $1,500 to PI Financial Corp.

The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release is not an offer or a solicitation of an offer of securities for sale in the United States, nor will there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About the Company

Silver Viper Minerals Corp. is a Canadian-based junior mineral exploration company focused on precious metals exploration in the northwestern Mexican state of Sonora. The Company currently operates the La Virginia Gold-Silver Project. Silver Viper has 100% ownership of the La Virginia concessions acquired from the most recent operator, Pan American Silver Corp., and has an option to acquire a 100% interest in the Rubi-Esperanza group of claims internal to those concessions. Silver Viper is under management provided by the Belcarra Group, which is comprised of highly qualified mining professionals.