Day: October 23, 2015

Pursuant to the non-brokered unit private placement announced on October 4, 2012, a total of 3,430,000 share purchase warrants expiring on October 25, 2014 and 500,000 share purchase warrants expiring on October 30, 2014, were issued on October 25, 2012 and October 30, 2012 respectively. On October 10, 2014, expiration of both sets of warrants was extended by an additional 12 months, to October 26 and 30, 2015 respectively.

Industrias Penoles, S.A.B. de C.V., in order to clarify the information published yesterday in various media communications concerning investment of $ 11.730 billion pesos in the municipalities of Torreón and General Cepeda, in the state of Coahuila, informs the investing public:

Industrias Peñoles, S.A.B. de C.V., con el fin de aclarar la información publicada el día de ayer en diversos medios de comunicación relativa a la inversión de $11,730 millones de pesos en los municipios de Torreón y General Cepeda, en el Estado de Coahuila, informa al público inversionista:

“The third quarter saw improved production with better grades and an improved cost profile,” stated Brendan Cahill, President and Chief Executive Officer. “We are aiming for the lower end of our production targets for the year due to the delay in the implementation of the optimization plan for Platosa. The optimization plan continues to be the Company’s top priority, with our technical teams currently working to improve the project’s efficacy and cost. We expect to provide an update on the optimization plan shortly.”

The proceeds from the Private Placement are expected to be used by the Company for the purchase of new underground mining equipment, general working capital and corporate purposes. All shares issued will be subject to a four month hold period.