Salt Lake City, August 3rd, 2020

Dear Horn Silver Mines, Inc. Shareholder:
 
There has been a long hiatus in Horn Silver Mines, Inc. communication with shareholders and a corresponding lack of shareholder meetings.  Records indicate that the last shareholders meeting was held in March of 1997 when a new president was elected. In that meeting, an Option Agreement was approved with the understanding that it would support further development of the Company’s properties.  Little work appears to have come from this arrangement.  Subsequent to that, the management team in place at the time stopped filing necessary reports with the Securities and Exchange Commission and ceased filing annual tax returns after the 1998 tax filing.  All other shareholder communication stopped, as well.
 
In 2009, Horn Silver Mines, Inc. was formally delisted by a Securities and Exchange Commission administrative action for failure to file quarterly and annual reports since June of 1998. As a result of this, there currently is no market for Horn Silver Mines shares.
 
By 2010, concerns about performance and financial irregularities mandated a change of management.  At a board meeting in October 2010, new management was installed, with Page Blakemore Jr. as president and Woods Silleroy as vice president, secretary, and treasurer. The board has a total of three members with Mr. Randall Mackey joining Mr. Blakemore and Mr. Silleroy.
 
From 2010 to present, new management immediately set about trying to return the company to solid footing. Between 2010 and the present, careful stewardship of the Company’s income has resulted in an improvement in the balance sheet. Horn Silver’s cash reserves now exceeding $300,000.

In 2016, two lease and option agreements were executed between Horn Silver and Volantis Resources, a US subsidiary of Alderan Resources based in Australia. These agreements cover the Company’s patented mining claims in Beaver County, Utah. 

Starting in 2017, Volantis conducted a comprehensive exploration program that included geologic mapping, surface sampling, an airborne geophysical survey, and a comprehensive compilation of data regarding Horn Silver’s claims in the San Francisco Mining District. Volantis drilled more than 21,000 ft. of core to evaluate a number of promising geophysical targets identified by their geologic models. Despite encountering numerous significant intercepts of polymetallic mineralization during three years of exploration, no economic orebodies were defined. Shareholders are urged to monitor the Alderan website for future developments regarding this exploration program at http://alderanresources.com.au.

In November of 2019, Alderan announced an agreement with Kennecott Exploration Company (part of the Rio Tinto Group) defining a staged exploration program whereby Kennecott, at its sole discretion, may spend up to $30 million to acquire an interest in the property. Kennecott currently plans to conduct over 25,000 feet of rotary drilling during May and June of 2020. We are pleased to have an organization of this quality conducting exploration activities on Horn Silver’s mining claims. Kennecott began drilling operations in May of 2020 and currently drilling its first four-hole 6,000 foot program.

The lack of shareholder communication over the years has been a significant concern for management. Consequently, Horn Silver is attempting to establish channels that can facilitate corporate functions and ensure proper dissemination of information about the Company.  The cost of mailing annual reports and conducting annual meetings is substantial, and it is therefore essential that email contact information be kept current.

Horn Silver has established a website with information about the Company, its history, its assets, and the ongoing exploration campaign (www.hornsilvermines.com).  The website contains a feature that allows shareholders to register their contact information. Management strongly encourages shareholders to register with the Company in order to facilitate communication.

It is also important to keep shareholder address information current with the Company’s transfer agent, Pacific Stock Transfer (pacificstocktransfer.com/contact-us). Inquiries regarding share certificates, ownership, and share registration should be referred to them.

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Pacific Transfer Information

Global Operations Center
6725 Via Austi Pkwy, Ste 300
Las Vegas, NV 89119
Phone: 702-361-3033 Ext 111
Toll Free: 800-785-7782
Fax: 702-433-1979

Corporate Office & Accounting
173 Keith St, Ste 3
Warrenton, VA  20186
Phone:  571-485-9998
Web:  www.pacificstocktransfer.com
Fax:  540-878-5543

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If any shareholder has questions, the Contact Page on our website can be used to contact management.

We look forward to receiving your contact information so that you can be kept advised of developments regarding the company.

Sincerely,

Page Blakemore
President & Chairman of the Board
Horn Silver Mines, Inc.

Salt Lake City, August 15th, 2017 - Horn Silver Mines, Inc. (“Horn Silver” or the “Company”) is pleased to announce that the company has executed Lease and Option Agreements (“Agreements”) with the US subsidiary of Alderan Resources, an Australian mining exploration company.  Subsequent to the execution of the Agreements covering the company’s mining claims in the San Francisco Mining District, Alderan has conducted a thorough review of the historical data on the area, including the results of numerous exploration efforts previously conducted on the mining claims. 

Alderan is currently conducting a high definition Induced Polarization Survey over the entire Frisco Project (approximately 15 square miles).  IP, an abbreviation for induced polarization, is a method for detecting conductive compounds beneath the surface, which can be an important component of metallic ore bodies. Additionally, an electromagnetic survey program is scheduled begin over a copper-zinc zone within the claims in late 2017 to early 2018. This geophysical work will define targets for a drilling program of up to 30,000 feet, set to begin in the fall of 2017.

 In 2016, Alderan conducted a high resolution airborne magnetic survey of the area as well as an extensive mapping and sampling program.  The results of this work were sufficiently encouraging that Alderan initiated a public offering on the Australian Stock exchange, successfully completing the offering for $8,500,000 Australian Dollars (approximately $6,800,000 USD).

Employing a district wide evaluation, classical geologic exploration methods and modern geophysical techniques, Alderan has identified three exploration prospects on the Company’s mining claims:

Cactus Canyon

Cactus Canyon is a copper-gold-silver prospect within which the airborne magnetic survey identified a number of structures that may be indicative of a porphyry copper deposit at depth. There has been historical mining in this area at the Cactus Mine, the workings of the Cactus Mine were associated with breccia zones adjacent to one of these structures.  The Cactus Canyon Area will be the focus of initial drilling.

Accrington Area

This is a copper-zinc-lead-silver-gold prospect that will be the subject of the electromagnetic survey scheduled for later this year, as well as part of the drilling program scheduled for 2017 and 2018.  This area has a significant number of mineralized workings that may indicate the potential for economic ore bodies. 

Horn Silver Area

Horn Silver Area is a zinc-lead-silver prospect in the vicinity of the historic Horn Silver Mine which was a major producer of lead, zinc and silver in the late 1800’s.

Horn Silver management is encouraged by the results of the work conducted to date as well as the extraordinary team of mining professionals Alderan has assembled to conduct these activities.  Horn Silver has provided a link to Alderan’s website and encourages Horn Silver shareholders to monitor this website for announcements of Alderan’s progress as the exploration activities are conducted and the results are reported.

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About Alderan Resources Limited

Alderan is a copper explorer with a focus on the Frisco Project, located in Utah, United States of America. The Frisco Project encompasses an area of significant historical mining activity with numerous old mines and workings across an area of approximately 7km by 4km. These include:

• The Cactus copper-gold-silver deposit and breccia pipe, one of several mineralized breccia pipes over an area of approximately 1000 m by up to 400 m. Modelling of magnetic survey data demonstrates that these pipes are likely connected at depth;

• The Accrington copper-zinc-silver-gold skarn, which hosts extensive mineralization across an area of 1.8 km by 1.2 km; and

• The Horn zinc deposit, a historical lead-silver mine, which contains significant amounts of unmined high grade zinc.

Alderan believes that these three deposits were formed contemporaneously with, and are genetically related to, underlying mineralized (copper-molybdenum-gold) porphyry intrusions. Work undertaken by the Alderan has confirmed the presence of a mineralized porphyry system beneath and adjacent to the Cactus breccia pipes.

For further information about Alderan Resources Ltd., please contact:

Nathan Ryan
NWR Communications
+61 3 420 582 887

Christopher Wanless
Chief Executive Officer
chris@alderanresources.com.au
phone number