Day: July 21, 2015

Fred Stanford, President and CEO of Torex stated: “Our strategy has always been to get the El Limon-Guajes resource up to 5 million ounces and build the mine, find a second mine on the same property and build that one as well. Progress toward completion of the construction of the ELG Mine continues to be excellent, and this PEA for the Media Luna resource illustrates the potential viability of those resources on the same property both on a commercial and social basis. The conceptual mine design, as proposed in the PEA, is innovative and elegant in the way that it turns technical and social challenges into commercial advantages…”

“Production remains on track to meet guidance for the year, with grade and tonnage during the quarter generally in line with the mine plan for the period,” stated Brendan Cahill, President and Chief Executive Officer. “We remain focused on the optimization project for Platosa and existing pump infrastructure is already being upgraded. The second phase of the program is expected to commence prior to the fall and will initially focus on preparatory test work in advance of drilling dewatering wells and underground drain wells.”

Fred Stanford, President and CEO of Torex stated: “The 2015 mine plan delivers slightly more gold ounces overall, with more ounces produced earlier in the mine life. The Guajes resource has been reduced by approximately 9% based on new understandings obtained from the Media Luna evaluation, as to which intrusive dikes and sills in the ore zone came after the mineralization phase. However, the addition of El Limón Sur reserves to the mine plan has more than offset the difference…”

“Santacruz has delivered solid production performance at the Rosario Mine in Q2,” stated Arturo Préstamo, CEO of Santacruz. “Since the resumption of operations we have delivered increases in throughput and better dilution control resulting in improved head grade on a month over month basis resulting in 60% more silver equivalent ounces being produced in June as compared with April. Our operational staff has performed admirably in the face of the challenging markets putting the Company solidly on a path of improved efficiency and reduced costs — both of which are critical in the face of soft commodity prices…”