Author: Josue Gomez

Jorge A. Ganoza, President, CEO and Director, commented, “We are pleased with our results for the first quarter which provide a good start to 2018 with all our key operating and financial indicators reflecting the strength of our assets.” Mr. Ganoza added, “The Company achieved record silver and gold production along with industry leading margins and cash flow generation.” Mr. Ganoza concluded, “Fortuna´s business strength and liquidity will provide the necessary flexibility to meet funding requirements for the development of the Lindero Project.”

“The Company had a solid first quarter with increases in consolidated revenue, net income, and silver equivalent production with significant decreases in cash costs and AISC,” said Americas Silver Corporation President and CEO Darren Blasutti. “San Rafael continued to ramp up its mining rate and milling rate throughout the quarter while advancing development into the higher-grade Main Zone with the expectation of reaching a milling rate of 1,700 tonnes per day in the second half of the year. Exploration cost of $1.8 million during the quarter was spent primarily on the very successful 12,000-meter drill program at Zone 120 designed to expand and upgrade previously reported resources, expected to be released in Q3, 2018.”

Tawn Albinson, Prospero’s President & CEO said: “Prospero is an explorer; our aim is to find and test new precious metals discoveries. It is very encouraging to have this renewed commitment by Fortuna for first-pass drilling and rapid assessment of as many of our projects as possible. In the context of the current market, the repricing and exercising Fortuna’s warrants is a non-dilutive way for us to secure additional funding for the planned work. It removes warrant overhang and provides a premium-to-market financing.

Fred Stanford, President & CEO of Torex stated: “The Torex team has been tested and strengthened by the challenges that we have managed in the past six months. With those challenges now behind us and with a strong Q1 as a foundation, our eyes are now lifted to the horizon and the opportunities ahead of us to create shareholder value. 2018 promises to be a catalyst rich year, with near term advances in throughput, SART plant start-up, Sub-Sill ramp-up, exploration results, in-fill results at Media Luna, an updated PEA for Media Luna, and advances in underground mining technology that we have been working on. We all look forward to getting on with delivering on these value creating opportunities.”

“Our priorities for 2018 are focused on the further optimization of the performance of the San Francisco Mine, advancing the Ana Paula project and undertaking a review on the opportunities to increase productivity at the Florida Canyon Mine following the expected close of the Rye Patch business combination on May 25, 2018” said Greg McCunn, Chief Executive Officer. “The addition of a second producing mine in Nevada will provide us with increased diversification and is expected to enhance our capital markets profile and appeal to a broader investor base.”

Primero Mining Corp. (TSX:P) today announced that First Majestic Silver Corp. (TSX:FR) (NYSE:AG) (Frankfurt:FMV) has received antitrust clearance from the Comisión Federal de Competencia Económica, which is the final government agency approval required before closing of the previously announced arrangement. Primero anticipates closing of the arrangement on May 10, 2018.

The net proceeds of the Offering will be used by the Company to undertake a comprehensive geological, diamond drill and engineering assessment program on the Company’s Manto Negro Copper Project located in Coahuila State, Mexico with a goal of publishing a 43-101 compliant mineral resource, initial project assessment and permitting for the ultimate project execution and production phase and for general working capital purposes.

The Company produced a total of 30,550 ounces of gold and 59,826 ounces of silver during Q1 2018 compared to 50,979 ounces of gold and 98,382 ounces of silver during Q1 2017.