Day: June 14, 2016

“Settlement of this debt is a very significant achievement for Timmins as it has been a top priority to place the Company in a stronger financial position going forward.” stated Mark Backens, Interim CEO. “With the debt paid off we gain flexibility and can renew focus on the advancement of the Ana Paula feasibility study and permitting work. Initial funding for this work will be provided by the cash flow generated from the San Francisco Mine. We would like to extend our appreciation to both Sprott and our largest shareholder Goldcorp for their support.”

“Lindsay has had key leadership roles in the U.S. and Canada, in mining and other industries,” said Phillips S. Baker, Jr., Hecla’s President and Chief Executive Officer. “We are pleased that he has chosen to join us at a time when Hecla is at its strongest – most reserves and production in our history – and as we continue to adopt new technologies to improve our productivity and extend mine life, and acquire new high-quality properties.”

Torex Gold Resources Inc. announced that the Company’s Board of Directors has authorized the implementation of the consolidation of the Company’s issued and outstanding common shares on the basis of one post-consolidation Common Share for every ten pre-consolidation Common Shares, effective June 30, 2016.

Combined with the original private placement, the Company has raised aggregate gross proceeds of approximately C$32 million. The net proceeds of the original private placement and Offering are expected to be used by the Company for capital programs at the Galena Complex and San Rafael Property, debt repayment, working capital and general corporate purposes.