Aurcana Corporation Receives Final Permit
for Shafter Mine
Aurcana Corporation ("Aurcana"
or the "Company") is
pleased to report that
all permits required
for the Shafter silver
mine to commence production have been received.
The final permit was to amend
a water discharge permit which
allows the Shafter mine
to increase operations from 900 tonnes per day to
1500 tonnes per day. Approval
for this permit amendment
was received on Wednesday, November 2, 2011.
The Shafter mine is now fully permitted.
"We are pleased to
report that all permits
are now 100% approved
for the development of the Shafter
mine in Texas. With the mine completion
date only six months away and the last of the permits
received the mine is now fully prepared
to begin silver
production in the second quarter of 2012", reported
Lenic Rodriguez, President
and CEO of Aurcana Corporation.
The Shafter silver mine
is on schedule to complete construction in May, 2012. Once complete and production is at full capacity the Shafter silver mine will be the second largest pure silver producing mine in the U.S. and it
will produce about 10%
of all U.S. silver.
Shafter Mine Construction Milestones for 2011 and 2012
Listed below are the remaining construction milestones
for completing the Shafter
mine and mill by May, 2012.
The Company's shares
are now also traded in the United States on OTCQX under the symbol
"AUNFF". Investors can
find current financial disclosure and
Real-Time Level 2 quotes
for the Company on www.otcqx.com and www.otcmarkets.com
About Aurcana Corporation:
The Shafter Silver Mine
is scheduled to start production within 6 months and it is estimated to produce 3.8 million ounces silver in the first year of operation. It has an NI 43-101 Measured
and Indicated Resource of 24.6 million ounces of silver and an Inferred Resource of 22.8 million ounces
of silver using a 4.0 ounce per ton cut off. The
92% owned La Negra silver-lead-zinc-copper mine
has produced 1 million ounces
of contained silver
over the last 4 quarters.
The reader should be cautioned that the Company has not completed a feasibility study to confirm the projected production capacity
for La Negra and there is no certainty the Company's plans will be economically viable.
This scientific and technical
information contained in this
news release has been reviewed by Andy Nichols, P.Eng. of the Company, and a Qualified
Person ("QP") as defined by National
Instrument 43-101 (Standards of Disclosure for Mineral Projects).
ON BEHALF OF THE BOARD OF DIRECTORS OF
"Lenic Rodriguez", President
For further information, visit
the website at www.aurcana.com:
P: (604) 331-9333
TF: (866) 532-9333
F: (604) 633-9179
Caution Regarding Forward-Looking Statements -- This news release contains
certain forward-looking statements,
including statements regarding the business and anticipated
financial performance of the Company.
These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include unsuccessful exploration results,
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.
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.