Category: Investor’s Corner

Primero Mining Corp. announced today that Mr. Ernest Mast and Primero have reached a mutual decision that Mr. Mast will depart Primero to pursue other opportunities effective no later than March 6, 2017. Upon Mr. Mast’s departure, Mr. Joseph F. Conway will be appointed Interim President and Chief Executive Officer. Mr. Mast will continue to assist the Company in facilitating a smooth transition in leadership. The Company thanks Mr. Mast for his service and his assistance in transitional matters.

The net proceeds of the offering will be used for the acquisition of properties adjacent to the El Castillo Mine and for general corporate purposes.

Brian Robertson, President and CEO of Source Exploration states, “We are pleased with the appointment of Ali to our Board. Ali’s extensive financial markets and mining business experience as well as in-depth knowledge of our larger peers and capital discipline will further enhance the strength of our Board as we advance the high potential Las Minas property. On behalf of the Board, we welcome Ali to the Source team.”

“Telson’s management is very pleased with the bulk sample testing results and with the concentrate sale proceeds generated,” states Senor Antonio Berlanga, CEO of the Company, “considering that the Andes mill is not ideally configured for processing Tahuehueto ore, we have obtained quality saleable lead and zinc concentrates with high precious metal content. We are very confident in our ability to improve these results once we have installed and commissioned our recently purchased Tahuehueto Mineral Processing Plant on site, as it will be engineered to utilize a mill configuration and design ideally suited for the unique characteristics of the Tahuehueto project’s mineralization”.

Kootenay President and CEO, James McDonald states, “The ongoing success of our drill and resource expansion program on La Cigarra and its surrounding mineralized structures at La Cigarra in Chihuahua State, combined with the high-grade results returned from La Negra under our agreement with Pan American Silver Corp. in Sonora, have laid a strong foundation for our growth and development strategy in 2017, and for what we believe will be a transformational year for the Company.”

“We demonstrated a significant improvement in our operations in 2016 on several fronts. Production increased to a record 392,000 ounces and we delivered a substantial reduction in operating costs and capital spending. This translated into strong free cash flow growth from our operations, a trend we expect to continue into 2017 with further production growth and cost reductions,” said John A. McCluskey, President and Chief Executive Officer.

Fred Stanford, President & CEO of Torex stated: “280,000 ounces of gold in the first year of the ramp up, speaks to the quality of the deposit, the constructed asset, and the skill of the team in navigating through the technical and social start-up challenges. The ramp-up is expected to be completed during 2017, as solutions are in hand for the two remaining material technical issues. Construction is underway on the SART plant to manage the soluble copper and a decision has been made to increase tailings filtration capacity.” He added, “2017 will also be an exciting year from a development perspective as step-out drilling on the Sub-Sill discovery is planned and delivered, a resource estimate is prepared, and access is completed to allow material from this zone to be processed before year end. Media Luna is also poised to take a major step forward in 2017 with permits expected for an access ramp that we intend to start developing before year end. It promises to be an interesting year as we complete the ramp up of ELG and prepare the Company for the next stage of growth.”

Global Proven and Probable mineral reserves increased 31%, or 1.8 million ounces, to total 7.7 million ounces of gold, reflecting a significant increase in mineral reserves at La Yaqui and the declaration of initial mineral reserves at Kirazl? and A?? Da??I. Increased combined Proven and Probable mineral reserves at La Yaqui to 608,000 ounces of gold2, a 519,000 ounce increase. Combined mineral reserves and resources at La Yaqui increased 113% to 684,000 ounces3 through a very successful 2016 exploration program

“We finished 2016 strongly, with record silver and silver equivalent production for the year and robust performance at all our mines driving record sales, strong net income and more than doubling adjusted EBITDA over last year,” said Phillips S. Baker, Jr., Hecla’s President and CEO. “And despite using one of the most conservative price assumptions in the industry, we almost completely replaced the silver reserves that were mined, a very satisfying achievement considering our record silver production levels and lowest exploration budget since 2009.”

“First Majestic delivered yet another record year of production, realizing the high end of our annual production guidance of 18.7 million silver equivalent ounces while achieving an all-in sustaining cost of $10.79 per ounce that came in well below our cost guidance range of $11.50 to $12.35 per ounce,” said Keith Neumeyer, President and CEO of First Majestic.