“With the completion of our ATM equity offering and expected further reductions in our remaining debt levels, we plan to end the year with one of the stronger, more flexible balance sheets in the sector,” said Mitchell J. Krebs, President and Chief Executive Officer. “Following the completion of this partial redemption, our total debt will have declined by over 60% since the end of the third quarter 2015, translating to over $29 million in anticipated annual cash interest savings that will be invested in initiatives that will lead to high-quality future growth of our Company.”

Palamina Corp. has appointed Hugh Agro to the board of Palamina Corp. and accepted Glenton Masterman’s resignation. Palamina would like to thank Glen for his support and efforts in advising Palamina. Glen recently relocated to Australia and we want to wish him every success in his new endeavours. Palamina has granted Hugh Agro 150,000 options of Palamina Corp. under its Stock Option Plan. All options are exercisable at $0.16 per common share and expire on November 15, 2021.

The Company recorded net income of $2.3 million or $0.11 per basic and diluted share, for the six months ended September 30, 2016, compared to a loss of $267,000 or ($0.01) per share, in the six months ended September 30, 2015. For the three months ended September 30, 2016, the Company recorded net income of $2.1 million, which compares to a loss of $111,000 in the fiscal second quarter of 2016.

SilverCrest Metals Inc. is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by National Bank Financial Inc. pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, 4,550,000 units of the Company at a price of C$2.20 per Unit for gross proceeds to the Company of approximately C$10 million. Each Unit will consist of one common share of SilverCrest and one half of one common share purchase warrant. Each Warrant will entitle the holder to acquire one common share of SilverCrest at an exercise price of C$3.00. The Warrants will have a term of 24 months from the closing of the Offering.

“Cash costs of $4.89 per payable ounce of silver in the third quarter helped generate impressive mine operating earnings of $88.5 million – almost double the earnings generated last quarter,” said Michael Steinmann, President and Chief Executive Officer of the Company. “Cash flow from operations of over $102 million exceeded our funding requirements for our growth projects, sustaining capital and dividend, which enabled us to reduce our modest debt and increase our cash and short term investment position to over $245 million. With an exceptionally strong balance sheet, we are well positioned to take advantage of growth opportunities, both within our suite of assets and outside our portfolio.”