Aurcana Corp.

Published : May 02nd, 2016

Aurcana Files 2015 Annual Financial Statements

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Aurcana Files 2015 Annual Financial Statements

Vancouver, BC, May 2, 2016,Aurcana Corporation ('Aurcana' or the 'Company') (TSXV: AUN) is pleased to announce the filing of the Company's Annual Financial Statements the (Financial Statements) and Management's Discussion & Analysis (MD&A) for the year ended December 31, 2015 on SEDAR. These documents include financial information on both continuing and discontinued operations of the Company.

Subsequent to the 2015 year-end, on January 7, 2016, Aurcana completed a restructuring transaction with Orion Mine Finance ('Orion'), pursuant to which, among other things, the Company's interest in the La Negra mine, located in Mexico, was transferred to Orion and all outstanding debt owed by Aurcana to Orion was extinguished. Aurcana is now debt free. The La Negra mine constitutes a 'discontinued operation' of the Company for reporting purposes.

The Company retains its 100% ownership interest in the Shafter Project located near Presidio, Texas as its primary asset. The Shafter Project has a long history of silver production and was most recently operational in 2013. In December 2013, the Shafter Project was put on care and maintenance due in part to low metal prices. Shafter constitutes a 'continuing operation' of the Company for reporting purposes.

The Shafter Project is fully permitted, with all permits in good standing. The Shafter Project includes a processing facility and considerable underground workings, along with a shaft and hoist access to the un-mined Gold Fields mineralized zones. Recently, a modified discharge permit was granted by the Texas Commission on Environmental Quality that allows the Company to de-water the underground workings of the Shafter Project and discharge the water or sell it to a third party for industrial uses.

'In light of the recent increase in silver prices the Company is evaluating its options with regard to the Shafter Project and potential strategic transactions. Some of these options include the completion of a Preliminary Economic Assessment and a drill campaign with the goal of converting Inferred Resources to Indicated Resources (as such terms are defined in NI 43-101 - Standards of Disclosure for Mineral Projects), which will then result in a higher resource confidence level and potentially lead to a life-of-mine plan. The Company has also received enquiries from third-parties seeking a joint venture at Shafter or a possible merger or business combination involving the Company; discussions with such parties remain ongoing. The management and the Board of Directors of the Company are considering all available options. The Shafter Project is leveraged to the price of silver and we will continue to assess our options in the context of the currently-improving silver price,' said Kevin Drover, President and CEO of the Company.

About Aurcana Corporation

Aurcana Corporation is a primary silver producing company that owns the Shafter Silver Project in Texas, USA, which was put on care and maintenance in December 2013, in part due to depressed silver prices.

ON BEHALF OF THE BOARD OF DIRECTORS OF
AURCANA CORPORATION

'Kevin Drover',
President & CEO

The technical information in this release has been reviewed by Jerry Blackwell (PGeo.), a Director and technical advisor to the Company and a Qualified Person as defined by National Instrument 43-101.

For further information, visit the website at www.aurcana.com or contact:

Aurcana Corporation
Kevin Drover
Phone: (604) 331-9333
Toll Free: (866) 532-9333
Fax: (604) 633-9179
Email: [email protected]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains certain forward-looking statements, including statements regarding the future plans and objectives of the Company, including potential strategic transactions being considered by the Company, and plans with respect to future drilling on the Shafter Project and plans to complete a preliminary economic assessment of the Shafter Project. These statements are forward-looking statements that involve various risks and uncertainties. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as 'expects' or does not expect', 'is expected', anticipates' or 'does not anticipate' 'plans', 'estimates' or 'intends' or stating that certain actions, events or results ' may', 'could', 'would', 'might' or 'will' be taken, occur or be achieved) are not statements of historical fact and may be 'forward-looking statements'. Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to materially differ from those reflected in the forward-looking statements.

Actual results may differ materially from results contemplated by the forward-looking statements. Important factors that could differ materially from the Company's expectations include, among others, risks related to the ability of the Company to complete debt or equity financing, international operations, unsuccessful exploration results, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as changes in metal prices, changes in the availability of funding for mineral exploration and development, unanticipated changes in key management personnel and general economic conditions. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements, oral or written, made by itself or on its behalf, except as required by applicable law. Accordingly, readers should not place undue reliance on forward-looking statements.

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Data and Statistics for these countries : Georgia | Mexico | All
Gold and Silver Prices for these countries : Georgia | Mexico | All

Aurcana Corp.

PRODUCER
CODE : AUN.V
ISIN : CA0519185064
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Aurcana is a silver development stage company based in Canada.

Aurcana produces silver, copper, lead and zinc in Mexico, and holds various exploration projects in Mexico.

Its main assets in production are LA NEGRA and SHAFTER in Mexico.

Aurcana is listed in Canada and in United States of America. Its market capitalisation is CA$ 423 700 as of today (US$ 338 770, € 296 763).

Its stock quote reached its highest recent level on October 31, 1997 at CA$ 9.92, and its lowest recent point on September 23, 2022 at CA$ 0.01.

Aurcana has 84 740 000 shares outstanding.

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In the News and Medias of Aurcana Corp.
1/7/2010Aurcana Corp. (Tsxv: Aun): New Recommendation
Annual reports of Aurcana Corp.
2008 Annual Report
2007 Annual Report
Financings of Aurcana Corp.
6/20/2014Closes $5,060,000 Equity Financing
6/14/2013Amends Warrants Expiring June 30, 2013
7/23/2010Closes Non-Brokered Private Placement
6/24/2010To Conduct A Best Efforts Non-Brokered Private Placement
11/30/2009Closes Non-Brokered Financing For CDN$2,549,300
Option Grants of Aurcana Corp.
1/19/2009(Shafter)reports 350,000 stock options at a price of $0.13
Nominations of Aurcana Corp.
11/20/2013Appoints New Board Member
9/25/2013Appoints Andrew Kaczmarek as Interim COO
2/13/2013Announces Appointment of New Board Member
2/22/2011Adds Paul Matysek to the Board of Directors and Strengthens ...
7/6/2010Appoints Director
5/18/2010Appoints Chief Financial Officer
3/4/2010Appoints Financial Advisor
5/21/2009Appoints Lenic Rodriguez President and CEO
12/18/2008Appointment of Director
5/16/2008Appoints Vice President of Operations
Financials of Aurcana Corp.
11/28/2013Announces Date for Q3 2013 Financial Results Webcast and Tel...
8/30/2013Reports Q2 2013 Financial Results and Provides Update
8/23/2013Announces New Date for Q2 2013 Financial Results Webcast and...
7/25/2013Announces Q2 2013 Financial Results Webcast and Teleconferen...
5/13/2013Announces Q1 2013 Financial Results Webcast and Teleconferen...
4/12/2013Reports Year End Financial Results and Provides Operational ...
3/28/2013Announces Year End Financial Results and Operational Update ...
6/27/2011RETRANSMISSION: Aurcana Reports Record 1st Quarter Results
5/9/2011Reports Record 2010 Results
12/2/2009Reports Positive Third Quarter Results
9/3/2009Reports Positive Second Quarter Results
12/3/2008Reports Third Quarter Results
9/5/2008Reports Second Quarter Results
5/2/2008Files Annual Statements La Negra Mine Records Profit in Four...
Project news of Aurcana Corp.
4/3/2013(Shafter)Shafter 2012 Exploration Program Identifies Evidence for a L...
2/11/2013(La Negra)New Discoveries at Aurcana's La Negra Mine Indicates the Pre...
2/5/2013Bull & Bear's Resource Investor: Silver & Gold Forecasts; En...
1/24/2013(La Negra)La Negra Drill Hole Results Confirm High Grade Continuity in...
11/6/2012Bull & Bear's Resource Investor: Commodity Makets, Gold & Si...
7/11/2012(La Negra)Reports: Record Silver Production, up 54% at La Negra Mine; ...
3/31/2012(La Negra)to Commission Plant at Shafter Mine and Completes Mine Expan...
12/14/2011(La Negra)Discovers New Silver Mineralization at Depth at La Negra Min...
4/8/2011(La Negra)Announces Record Silver Production, La Negra Production Expa...
1/21/2011(Shafter)Commences Construction at Shafter Silver Mine
6/1/2010(La Negra)Expansion To 1,500 T/D At La Negra Mine Completed
2/16/2010(La Negra)NI 43-101 Report increases Maravillas Deposit Resources by 4...
6/30/2009(Shafter)Positive Pre-Feasibility for Shafter Silver Mine 7.75 Millio...
6/3/2009(La Negra)Takes Control of Operations at the La Negra Mine: Expansion ...
3/2/2009(Shafter)Scoping Study Upgraded to Pre-Feasibility: Consultant Hired ...
11/20/2008(La Negra)Shafter Silver Mine Timeline and Update; Additional Operatio...
7/31/2008(Shafter)47.4 Million Ounce Silver Resource at Shafter Silver Mine Co...
7/17/2008(Shafter)Finalizes Acquisition of Shafter Silver Mine
4/11/2008(La Negra) Intersects 8.15 Metres of 420 Grams per Tonne Silver and 1....
3/19/2008(La Negra) Adds Over 500,000 Tonnes In Monica Zone
Corporate news of Aurcana Corp.
5/2/2016Aurcana Files 2015 Annual Financial Statements
1/8/2016Aurcana Corporation Announces Completion of Restructuring Tr...
1/7/2016Aurcana Corporation Announces Completion of Restructuring Tr...
1/5/2016Aurcana Voluntarily Delists From OTCQX
12/18/2015Aurcana Corporation Update on Restructuring Transaction
12/1/2015Aurcana Reports Q3 2015 Financials And Provides Update on Re...
11/30/2015Aurcana reports 3Q loss
10/30/2015Aurcana Corporation Announces Commencement of CBCA Proceedin...
10/19/2015Aurcana Production Results for Q3 2015
10/16/2015Aurcana Corporation Announces Restructuring Transaction and ...
8/14/2015Aurcana reports 2Q loss
8/14/2015Aurcana Reports Q2 2015 Financials.
8/14/2015Aurcana Reports Q2 2015 Financials
7/14/2015Change of Auditor
7/3/2015Change of Auditor
4/14/2015Aurcana Reports 2014 Financial Results
3/25/2015Notice regarding the Proposed Class Action Settlement
3/25/2015Notice regarding the Proposed Class Action Settlement (frenc...
2/10/2015Aurcana Announces Settlement of Class Action
1/13/2015Aurcana Delivers Highest Quarterly Production in History in ...
12/16/2014Aurcana Board Update
12/3/2014Aurcana Announces New Mineral Resource Estimate for the La N...
12/1/2014Aurcana Reports 3rd Quarter Financial Results
10/27/2014Aurcana Sets New Production Record in Third Quarter
10/27/2014Aurcana Sets New Production Record in Third Quarter
10/10/2014S&P Dow Jones Indices Announces Quarterly Review of S&P/TSX ...
8/29/2014Aurcana Reports Q2, 2014 Financial Results
7/17/2014Aurcana Appoints New Board Member
7/10/2014Aurcana Announces New President & CEO
6/9/2014Aurcana Reports Voting Results of Annual and Special Meeting
5/30/2014Aurcana Reports Q1, 2014 Financial Results
5/9/2014Aurcana Announces Completion of Issuance of Debt Settlement ...
5/1/2014Aurcana Reports 2013 Financial Results
5/1/2014Aurcana Announces Completion of Transactions Under Amended C...
4/30/2014IIROC Trading Resumption - AUN
4/29/2014IIROC Trading Halt - AUN
4/7/2014Aurcana Reports 55% Increase in Silver Equivalent for First ...
2/6/2014Reports Fourth Quarter and 2013 Production Results
11/4/2013(Shafter)Shafter Update - Aurcana Appoints David Drips General Manage...
10/31/2013Provides Update
10/21/2013Reports Third Quarter Production Results
9/30/2013Announces Departure of VP Operations
9/20/2013Closes $50 million Loan Facility
9/11/2013Announces $5,000,000 Bridge Loan
7/25/2013(Shafter)letter: Shafter's New Miners Training Program Featured on CB...
7/10/2013Provides Corporate Update
6/28/2013Announces $50 million Loan Facility
6/26/2013Reports Voting Results of Annual and Special Meeting
6/7/2013Files Amended Technical Report
5/23/2013(La Negra)Clarifies That La Negra Mineral Resource Estimate Remains U...
5/16/2013Adopts Advance Notice Policy
4/15/2013Announces Share Consolidation Effective Apr 30, 2013
3/28/2013Announces Shareholder Approval of Share Consolidation
2/13/2013Announces Proposed Share Consolidation
1/25/2013letter: Aurcana CEO invited at CNBC Asia to talk about futur...
1/17/2013Reports Fourth Quarter and 2012 Year to Date Production Resu...
10/24/2012Investors Newsletter
10/18/2012(La Negra)Reports: Record Quarter of Silver Production, up 54% at La N...
10/18/2012(La Negra)Reports: Record Quarter of Silver Production, Up 54% at La N...
10/12/2012letter
10/11/2012(La Negra)Files Technical Report on Updated Resource Estimate for La N...
8/28/2012(La Negra)Announces Updated Resource Estimate for La Negra Mine
8/20/2012Reports Record Results for Q2, 2012
6/6/2012(Shafter)Commences Open Pit Mining at Shafter
6/1/2012(Shafter)Intersects High Grades in Shafter Surface Drilling
5/25/2012Reports: Record 1st Quarter Results
4/26/2012(La Negra)Reports: Record Silver Production at La Negra Mine
4/16/2012Reports Record 2011 Results
3/25/2011-Amends Convertible Debenture Terms
6/16/2010Reports 54% Higher Revenues in Q1, 2010 Compared To Q1, 2009...
5/6/2010Reports $3.8M Net Earnings
4/24/2010Announces US$40,000,000 Silver Backed Unit Offering
4/22/20102010 "Virtual" World Money Show
12/4/2009Closes Sale of Rosario Project
9/17/20092009 AGM Invitation
8/18/2009La Negra Corporate Update
5/25/2009Sells Rosario To Focus On Shafter Development
8/22/2008Annual General Meeting Reminder
7/7/2008Receives US$25 Million - Shafter Silver Mine Acquisition to ...
5/21/2008Reports 145 g/t Silver and 1.96% Copper over 23.5 meters
4/7/20082008 Calgary Resource Investment Conference
4/3/2008 Acquires Near Term Silver Production Project
2/26/2008Aurcana Moves to Expand and Mine Higher Grades at La Negra
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