Sandspring Resources Ltd.

Sandspring Resources Ltd.

June 26, 2015 13:29 ET

Sandspring Receives Second 2015 Installment Under Its Streaming Agreement With Silver Wheaton

DENVER, COLORADO--(Marketwired - June 26, 2015) - Sandspring Resources Ltd. ("Sandspring" or the "Company") (TSX VENTURE:SSP) is pleased to announce that it has received the second 2015 installment of US$500,000.00 (the "Second 2015 Installment") from Silver Wheaton (Caymans) Ltd., a wholly owned subsidiary of Silver Wheaton Corp. ("Silver Wheaton") (TSX:SLW) (NYSE:SLW), under the amended precious metals purchase agreement entered into between Sandspring and Silver Wheaton (see Sandspring press release dated April 23, 2015 for additional information regarding the amended precious metals purchase agreement). Under the amended precious metals purchase agreement, Silver Wheaton agreed to pay Sandspring incremental up‐front cash payments totaling US$5 million for 50% of the payable silver production from the Company's Toroparu Mine in Guyana S.A. (the "Toroparu Project"). Sandspring is entitled to receive US$2.0 million of the incremental US$5.0 million cash payment in four equal installments over the course of 2015, subject to the satisfaction of certain conditions. The first 2015 installment of US$500,000.00 was received in April 2015. The proceeds from the Second 2015 Installment will be used primarily for the advancement of the Company's operations at its Toroparu Project.

In connection with the payment of the Second 2015 Installment, the Company has granted Silver Wheaton security over all assets of the Company and certain assets of its Guyanese subsidiary, ETK, Inc., to secure the obligations owing to Silver Wheaton under the amended precious metals purchase agreement.

About Sandspring

Sandspring Resources Ltd. is a Canadian junior mining company currently moving toward a definitive feasibility study for the multi‐million ounce Toroparu Project in the Republic of Guyana. Visit Sandspring's website at

Additional information on Sandspring can be viewed on SEDAR under the Company's profile at or on Sandspring's website at

This press release includes certain forward‐looking statements concerning future performance and operations of the Company, including the successful completion of the Company's final feasibility study, as well as management's objectives, strategies, beliefs and intentions. Forward‐looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward‐looking statements are based on the current opinions and expectations of management at the time such statements are made. All forward‐looking statements and information is inherently uncertain and may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward‐looking statements or information.

Forward‐looking statements are subject to a variety of assumptions, risks and uncertainties, including risks associated with the ability of the Company to satisfy the conditions precedent to payment of the early deposit under the precious metals purchase agreement, the speculative nature of mineral exploration and development, fluctuating commodity prices, changes in project parameters as plans continue to be refined, uncertainties of project cost overruns or unanticipated costs and expenses, uncertainties inherent in conducting operations in a foreign country, uncertainties related to the availability and costs of financing needed in the future, uncertainties related to the ability to enter into the contracts necessary to develop the mining project on reasonable terms, the risk that the conclusion of pre‐production studies may not be accurate, the risk that the Company may be unable to successfully advance the Toroparu Project to feasibility, risks that the Company may not obtain positive results from ongoing evaluation and testing of multiple gold targets located elsewhere in the Company's landholdings, operating or technical difficulties in connection with mining or development activities, labour disputes, and contests over title to properties, particularly title to undeveloped properties, among other risks as described in our public filings available at Actual events or results may differ materially from those projected in the forward‐looking statements and we caution against placing undue reliance thereon. The Company has an ongoing obligation to disclose material information, as it becomes available.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

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