Day: October 17, 2017

“We are excited to be moving forward with Tejamen, by developing future drilling plans to test high grade mineral potential. When surface access is obtained we will be well positioned to commence drilling” stated Carlos Espinosa, President of Monarca Minerals Inc. “We plan a very active year to advance and further define the resource potential within our projects”.

“Consolidated production in the third quarter returned to higher levels compared to the prior quarter,” said Keith Neumeyer, President & CEO. “At La Encantada, improvements in throughput and silver grades allowed for a 62% increase in silver production. At Santa Elena and San Martin, total production at each operation beat guidance due to continued strong grades and higher recoveries. At La Parrilla, oxide production improved due to higher grade ore being sourced from the San Marcos mine. Lastly, as a safety precaution following two major earthquakes that struck near the La Guitarra mine in September, we temporarily suspended production for a total of eight days to allow for a full inspection of the operation. The inspection revealed no significant risks or damages allowing for the restart of production.”

Mexican Gold Corp. is pleased to announce the preliminary results of geophysical surveys at its Las Minas project, Veracruz State, Mexico. The Company engaged Geotem Ingenieria S.A. de C.V. of Mexico City to complete approximately 50 line kilometres of ground magnetic and 15 line kilometres of Moving Loop Time Domain Electromagnetic (TDEM) programs at the El Dorado / Juan Bran, Cinco Senores and Las Minillas mineralized zones. Together, the ground magnetic and TDEM geophysical surveys identified multiple high priority drill targets at the El Dorado/ Juan Bran, Cinco Senores and Las Minillas zones.

Fred Stanford, President & CEO of Torex stated: “The start of this in-fill drilling program is a big step in advancing the development of the Media Luna deposit. That development process will be aided by the increased geological understanding and confidence that comes from the drilling program. It will also be potentially enhanced by the optimization of the Media Luna production and service processes, that have been developed by internal teams, while we waited for the financial flexibility to proceed with in-fill drilling. An updated preliminary economic assessment, scheduled for late in Q1, 2018, is expected to illustrate the commercial advantages of the proposed optimized processes. Internal and external study teams are also focusing on design elements that are expected to expedite the permitting process. Pending success of future technical studies, the potential timeline contemplates beginning construction of the Media Luna mine in early 2020, is expected to be financed from internal cash flow, and gold production is expected to begin in early 2022.”