What Silver Tiger Metals does

Silver Tiger Metals Inc. is a Canadian precious metals developer advancing the El Tigre silver-gold project in Sonora, Mexico, toward first production in December 2027. The company controls a district-scale land package of over 37,000 hectares spanning 35+ kilometers of strike along the prolific Sierra Madre Occidental trend, encompassing multiple high-grade epithermal vein systems including El Tigre, Seitz Kelly, Sooy, Benjamin, Protectora, Caleigh, and Fundadora. The flagship El Tigre Stockwork Zone is a fully-permitted heap leach surface mine currently in construction under an EPCM contract awarded to Kappes, Cassidy & Associates, with economics of US$456M After-Tax NPV, 65.7% IRR, and a 1.4-year payback at $3,200/oz Au and $38/oz Ag. A parallel underground mine development is in the PEA stage with a US$304M After-Tax NPV, and combined project NPV approaches US$800M. The company graduated from TSX Venture to the Toronto Stock Exchange (TSX: SLVR) in May 2026 and also trades on OTCQX (SLVTF) and Frankfurt (FR:10C).

The core technology stack is conventional epithermal vein and stockwork mineralization extraction: open-pit mining followed by heap leach processing for near-surface bulk-tonnage mineralization, transitioning to underground mining of high-grade silver veins in a subsequent phase. Standard geological modeling, diamond drilling, and metallurgical test work are supported by NI 43-101 compliant Pre-Feasibility and Preliminary Economic Assessment technical reports. The company is led by CEO Glenn Jessome alongside VP Corporate Development & IR Devin Devarennes and VP Exploration David R. Duncan, with a headcount of 11–50 employees. Notably, the SEMARNAT permit represents the first new open-pit mining permit issued in Mexico since 2020, giving Silver Tiger a regulatory first-mover position in a jurisdiction where peers have been unable to advance new projects.

Silver Tiger's business model is a development-stage mining model: the company does not yet generate revenue and instead raises equity capital through bought deal public offerings and private placements underwritten by a syndicate including Stifel Canada, BMO Capital Markets, Desjardins, Canaccord Genuity, and Sprott Capital Partners. Over C$240 million has been raised from 2020 through February 2026, with US$86 million in cash on hand as of March 2026 and a debt financing package nearing completion. Once production commences, revenue will be generated by selling silver-gold doré produced via heap leach processing into global bullion markets at prevailing spot prices. The target customer base is the precious metals investment community — institutional and retail — who gain equity exposure to a high-grade, near-term silver production story rather than purchasing physical product from the company.

Name

Silver Tiger Metals

Legal name

Silver Tiger Metals Inc.

Website

https://silvertigermetals.com

Company type

Public

Founded year

2010

Operating status

Operating

Headcount range

11–50 employees

Short description

Silver Tiger Metals is a Canadian precious metals developer advancing the El Tigre silver-gold district-scale project in Sonora, Mexico, from exploration into construction, with first doré pour targeted for December 2027 under a heap leach surface mine.

Ownership category

akta.pro rank

Product category

Precious Metals Mining

NAICS

Gold Ore and Silver Ore Mining (212220)

SIC

Gold And Silver Ores (1040), Metal Mining (1000)

akta.pro primary industry

Silver Mining (IMAKAEAB)

akta.pro secondary industries

Gold Mining (IMAKAEAA), Precious Metals Exploration & Project Development (IMAKAEAI)

Keywords

• Silver gold mining
• Precious metals exploration
• Mineral resource development
• Heap leach processing
• Mining project development

Headquarters

HQ city

Halifax

HQ country

Canada

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Supply Chain, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Silver and Gold Production (Future): Once production commences (targeted Q4 2027), Silver Tiger will generate revenue through the sale of silver and gold doré produced from its El Tigre Stockwork Zone surface mine and future underground operations. Revenue will be derived from the heap leach processing of silver-gold mineralization. The company is currently in the construction/development phase with no production revenue as of the latest data.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels7 records

Core offering

Silver Tiger Metals is a Canadian mineral exploration and development company advancing its flagship El Tigre silver-gold project in Sonora, Mexico. The company is constructing the fully-permitted El Tigre Stockwork Zone surface mine (heap leach operation) and developing an underground mine centered on high-grade historically mined epithermal silver veins, with first doré pour targeted for December 2027. The 37,000+ hectare district-scale property covers over 35 km of the Sierra Madre trend, including multiple high-grade vein systems.

Product overview

Silver Tiger Metals is a Canadian mining exploration and development company operating a single major asset: the El Tigre silver-gold project in Sonora, Mexico. The company is transitioning from exploration to production with two integrated development streams: the El Tigre Stockwork Zone surface mine (heap leach operation targeting first production in December 2027) and an underground mine development focused on high-grade epithermal silver veins. The project covers over 37,000 hectares and includes extensive exploration potential across multiple targets including the North Tigre Mine and Lluvia De Oro Mine areas.

Differentiator

Problem solved

Functional benefit

Products and services

• El Tigre Stockwork Zone Project A fully-permitted silver and gold heap leach surface mine project in Sonora, Mexico, currently under construction with first pour expected December 2027. Features After-Tax NPV of US$456 million, undiscounted After-Tax cash flow of US$625 million, After-Tax IRR of 65.7%, and Payback Period of 1.4 years based on $3,200/oz Au and $38/oz Ag.
• Underground Mine Development

Quantifiable outcome

• After-Tax NPV of US$456M, After-Tax IRR of 65.7%, Payback Period of 1.4 years for Stockwork Zone (PFS, based on $3,200/oz Au & $38/oz Ag)
• +3 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Two partnerships are on record, tiered core and minor.

• Kappes, Cassidy & Associates (KCA) and KCA Norte (KCN)coreImplementation/ SI/ Consulting Partner · 18 March 2026Silver Tiger awarded the Engineering, Procurement, and Construction Management (EPCM) contract for its El Tigre silver-gold project to KCA and its subsidiary KCA Norte to assist in construction of the mine and process plant, with technical support from WSP. KCA brings specialized mining construction and procurement expertise to execute the El Tigre development. The company also hired its own experienced mine construction executive team to work alongside KCA and KCN.
• Red Cloud Financial Services Inc.minorGTM or Marketing Partner · 1 June 2020Red Cloud provides investor relations services to Silver Tiger, including managing social media, assisting with video content creation for Red Cloud TV, and overall marketing and corporate access services. Red Cloud is paid $10,000 per month and owned 857,150 shares and 428,575 warrants at time of engagement.

Scale indicators8 records

Recent moves7 records

Expansion highlights4 records

Direct peers

• Vizsla Silver Corp: Junior silver developer with the Panuco project in Sinaloa, Mexico along the Sierra Madre trend. Direct peer due to similar high-grade silver-gold epithermal vein profile in Mexico, comparable development stage, and overlapping target market of precious-metals-focused institutional and retail investors.
• MAG Silver Corp: Silver-focused developer with the Juanicipio project in Zacatecas, Mexico (joint ventured with Fresnillo). Comparable as a high-grade Mexican silver asset advancing toward/into production, attracting the same institutional silver-investor base.
• Endeavour Silver Corp: Mid-tier silver mining company operating multiple underground silver-gold mines in Mexico. Comparable as a silver-focused operator in Mexico with epithermal vein deposits and a similar investor base, though at a more advanced producing stage.
• Dolly Varden Silver Corp: Junior silver developer advancing the Dolly Varden and Homestake Ridge projects in British Columbia's Golden Triangle, Canada. Comparable as a high-grade silver-focused development-stage company targeting the same silver-investor universe.
• Defiance Silver Corp: Silver exploration and development company with assets in Mexico (Zacatecas and Durango). Comparable as a junior advancing high-grade Mexican silver projects toward development, competing for the same silver-focused capital pool.
• Southern Silver Exploration Corp: Junior developer focused on the Cerro Las Minitas silver-zinc-lead project in Durango, Mexico. Comparable as a development-stage company pursuing high-grade polymetallic/silver mineralization in Mexico, targeting the same investor base.
• GoGold Resources Inc: Silver and gold producer/developer with the Los Ricos and Parral projects in Jalisco, Mexico. Comparable as a Mexico-focused silver-gold developer with heap leach processing parallels to Silver Tiger's planned operations.
• Aya Gold & Silver Inc: Silver and gold developer advancing the Boumadine and Zgounder projects in Morocco. Comparable as a high-grade silver developer that recently transitioned into production, offering a useful template for Silver Tiger's development-to-producer trajectory.

Broad incumbents

• First Majestic Silver Corp: Established silver producer with multiple operating mines in Mexico (San Dimas, Santa Elena, La Encantada). Comparable as a major silver-focused incumbent operating in Mexico with epithermal vein assets, offering a benchmark for Silver Tiger's eventual transition into producing status.
• Pan American Silver Corp: Major precious metals producer with multiple silver mines including in Mexico (La Colorada, Dolores). Comparable as a major silver producer and benchmark for valuation, though far more diversified across geographies and metals than Silver Tiger.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/SilverTigerMtls
• Facebookfacebook.com/SilverTigerMetals

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds9 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Silver Tiger Metals