Author: Josue Gomez

Fred Stanford, President & CEO of Torex stated: “We are happy to have 2017 behind us, with its ramp-up challenges and illegal blockade, now in the rear-view mirror. I would like to acknowledge the team for their excellent contribution in solving the inevitable ramp-up challenges and for their disciplined execution of the strategy to resume operations under blockade conditions. 2018 will be the year that the team completes the last 10% of the ramp-up and showcases the potential of the ELG asset. It will be a year rich in catalysts with the re-start, completion of the SART plant, completion of the ramp-up of the processing plant and the Sub-Sill, continued exploration results from Sub-Sill, and an updated PEA for Media Luna. It will be a busy and productive year, and we all look forward to getting on with it.” He added – “A special thanks to the great many that have supported the team in a myriad of ways as we worked to by-pass the illegal blockade. That support has enabled the potential that 2018 provides for Torex shareholders, employees, and communities.”

“We executed on a number of operational and strategic objectives in 2017, all of which continue to strengthen our outlook. We met guidance with a 10% increase in production to a new record of 429,400 ounces while delivering an 8% decrease in all-in sustaining costs. This drove strong free cash flow growth from our operations and our best financial performance in years,” said John A. McCluskey, President and Chief Executive Officer.

McEwen Mining Inc. today reported fourth quarter and full year results for the period ended December 31, 2017. For the year, McEwen Mining achieved production of 152,329 gold equivalent ounces. Our consolidated net loss for 2017 was $10.6 million, or $0.03 per share. Net cash outflow during the year from operating activities was $15.4 million, principally due to higher exploration, development and operating expenses associated with our long-term growth plans. As of February 21, 2018 the Company had cash, investments and precious metals of $60 million and no debt.

Jorge A. Ganoza, President and CEO, commented: “Our infill drill programs at San Jose and Caylloma mines were successful at replenishing reserves mined in 2017.” Mr. Ganoza continued, “In addition, the exploration programs over the last year at Caylloma have yielded a 92 percent increase in tonnes of Inferred Resources. This success underpins the potential for this mine to continue presenting opportunities to extend its life.”

Alianza Minerals Ltd. is pleased to provide a summary of work completed in 2017 and plans for 2018. Alianza remains focussed on advancing its projects in favourable mining jurisdictions and optioning out drill ready projects to partners. In addition to work programs in Peru and Nevada, the Company is planning to advance its projects in Yukon Territory and is actively assessing new opportunities in all three jurisdictions.

“2017 was a transformational year for the Company,” said Greg McCunn, Chief Executive Officer. “On the corporate level we rebranded the company, changed the management team and strengthened the balance sheet with a C$50 million bought deal financing. Operationally, the San Francisco mine required a significant investment in waste stripping resulting in lower production than 2016 and higher cost, particularly in Q4 2017. However, the main San Francisco pit is now open on multiple mining faces and we are expecting between 90,000 and 100,000 gold ounces at AISC between $1,000 and $1,100/oz for 2018 with planned capital expenditures declining substantially to between $2.5 and $3.0 million.