Arian Silver Corporation is pleased to announce that, further to its press release on 4 May 2016 which announced the Company had secured the exclusive right for 120 days to evaluate a gold and silver tailings project held by Tierra Nuevo Mining Ltd, the period of exclusivity has been extended by a further 60 days to 28 October 2016. There was no cost incurred in the arrangement of the extension.
Jose Antonio Berlanga, Telson’s CEO stated “We are extremely excited to initiate the collection and processing of this 2,000 tonne industrial test in order to support the assumptions being made in the Pre-Feasibility Study currently being prepared for an early October delivery to our shareholders and to better estimate the long term economics of the project.”
We are very pleased to have been able to conclude this agreement with the members of the community. Our success in continuing to acquire agreements for surface access rights demonstrates the support we have with the local land owners at San Acacio. stated Bruce Winfield, President and CEO of Defiance. With this agreement in place, we can now plan to not only continue our exploration efforts at depth but also to aggressively step out along the strike of the vein.
Mr. Barry Devlin, Vice President of Exploration, stated, “Results for these three Switchback drill intercepts from the latest round of infill drilling continue to define multiple parallel high-grade polymetallic veins. This drilling was designed to assist mine planning for first direct vein development at Switchback. We expect to resume drilling the extensions of this expanding deposit in the coming months, with a goal of adding additional mineral along strike and depth.”
We are tremendously excited to have Mr. Pullinger join the team in the coming weeks, stated Brendan Cahill, President and Chief Executive Officer. He brings an exceptional track record of discovery and project advancement using the latest in exploration techniques and has experience in all phases of the mining industry, from grass-roots exploration through to production, including a wealth of capital markets and financing experience. He has a proven ability to identify value in mining assets from early stage exploration through to production. Along with our newly appointed Vice-President Technical Services, Denis Flood, Ben will be integral to our next phase of growth.
DynaResource de México SA de C.V., the 100% owner of the San Jose de Gracia Project, located in the County of Sinaloa de Leyva, State of Sinaloa, México, is providing clarifying statements and a number of updates with respect to the SJG Project:
Fred Davidson, President and CEO, stated, “The increase in silver prices has had a positive impact on the Company’s financial performance. For the fourth consecutive quarter the Company’s EBITDA1 is positive at $0.6 million for Q2 2016 compared to a negative EBITDA of $0.8 million in Q2 2015. Revenues in Q2 2016 increased by 61% over Q2 2015 to $4.4 million. Operationally, the Company is continuing to improve its mine operating income, achieving income of $0.7 million in Q2 2016 compared to a loss of $0.8 million in Q2 2015.
Timmins Gold President Arturo Bonillas states, We are very pleased to provide guidance for the continued operations at San Francisco which will generate significant free cash flow and offers the Company continued exposure to the rising gold price environment. Over the course of the past year, we made significant reductions in costs and increased operating efficiencies, which contribute greatly to the estimated profitability of the new life of mine plan. Additionally, the low capital requirements throughout the mine life result in very attractive all-in costs. The Company has employed a $1,250 gold price for Reserves, but the potential for significant upside optionality is noteworthy. Based on a $1,350 gold price pit, the number of Resources increases by almost 70% compared to a $1,250 gold price pit.
Oremex Silver Inc. is pleased to announce that it has changed its name from “Oremex Silver Inc.” to “Monarca Minerals Inc.” pursuant to the provisions of the Canada Business Corporations Act. The name change was approved by shareholders at the Company’s annual and special meeting of shareholders held on July 7, 2016 and is effective as of August 22, 2016. The Company anticipates that it will begin trading under its new name on the TSX Venture Exchange and under the new symbol “MMN” at the opening of the market on August 24, 2016.
First Mining Finance Corp. is pleased to announce that it has signed an agreement with BRS Ventures Ltd., under which First Mining will sell all the issued and outstanding shares of Minera Terra Plata S.A. de C.V., a subsidiary of First Mining, which owns the Peñasco Quemado, La Frazada and Pluton properties located in Mexico.
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