ESV Resources Cancels LOI for Acquisition of Lomero-Poyatos Concessions

VANCOUVER, BC, Feb. 4, 2021 /CNW/ - ESV Resources Ltd. (the "Company") (TSXV: ESV.H), announces that the Company and Qvartz Capital Partners Inc. ("Qvartz") have agreed to cancel the Letter of Intent dated November 12, 2020 between the Company, Qvartz and the Corporación de Recursos Iberia SL ("CRI") as CRI failed to comply with certain conditions precedent required for the closing of the transaction described therein, including satisfactory evidence of its ownership of the Lomero-Poyatos Concessions (the "Project") by CRI.

The Company and Qvartz continue to see value in and remain interested in acquiring the Project. Accordingly, they continue to explore alternative avenues to acquire an interest in the Project, provided that the currently outstanding title issues are resolved or settled among all the interested parties.

On Behalf of the Board of Directors,

ESV RESOURCES LTD.

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

Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, "forward–looking statements". Forward–looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The Company cautions readers that forward–looking statements, including without limitation those relating to the Company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward–looking statements.

SOURCE ESV Resources Ltd.

Frederic Leigh, Chief Executive Officer, Phone: [phone], Email: [email protected], Website: www.denariussilver.com