Aurcana to Commission Plant at
Shafter Mine and Completes
Mine Expansion at La Negra
Aurcana Corporation ("Aurcana"
or the "Company") is
pleased to report:
Shafter Mine, Texas
The Shafter silver mine
has entered the final phase of construction two months ahead of schedule and under budget with the commissioning of the processing
plant expected April 1, 2012. Aurcana
anticipates ramp up will take up to 90 days to reach its 1,500 tonnes per day capacity. Power will be supplied initially by generators and
power station completion is
expected by May 2012.
La Negra Mine, Mexico
The La Negra Mine has successfully
completed its second consecutive mine expansion from
1,500 tonnes per day (tpd)
to 2,000 tpd capacity
on time and on budget for a cost of $4.5M.
Production is anticipated
to increase from
130,500 tons at 1500 tpd
from Q1 2012 to 176,000 tons at
2,000 tpd for Q2 2012.
"We are pleased to
be two months ahead of schedule and an estimated $1M
below budget at Shafter Mine. With the completion of the expansion at
La Negra to 2,000 tpd, Aurcana is on target to become a mid-tier silver producer and anticipates 12 month production of 3.8M oz Ag from
Shafter and 1.3M oz Ag (2.3M oz Ag equiv) from La Negra," reported Lenic Rodriguez, President
and CEO of Aurcana Corporation.
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.
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 produce 3.8 million ounces of
silver in the first full 12 months
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
99.9% owned La Negra silver-lead-zinc-copper mine produced over 1 million ounces
of contained silver in 2011.
and technical information contained
in this news release regarding
the Shafter Silver Mine
has been reviewed by Ken Collison,
P.Eng. Director of the Company, and a Qualified
Person ("QP") and scientific and technical information contained
in this news release regarding
the La Negra Mine has been reviewed
by Baltazar Solano, P.Eng. and a QP). as defined
by National Instrument 43-101 (Standards of Disclosure
for Mineral Project)
ON BEHALF OF THE BOARD OF DIRECTORS OF
Lenic Rodriguez, President & CEO
Phone: (604) 331-9333
Toll Free: (866) 532-9333
Fax: (604) 633-9179
Gary Lindsey, Corporate Relations
This news release contains certain forward-looking
statements, including statements regarding forecast silver production, silver grades, recoveries, potential mineralization,
exploration result, future plans and objectives
of the Company and the business and anticipated financial
performance of the Company. These
statements are forward-
looking statements that involve various risks and uncertainties. These forward-looking statements include, but are not limited
to, statements with
respect to mining and processing
of mined ore, achieving
rates, anticipated production rates and mine
life, operating efficiencies, costs
and expenditures, changes in mineral
resources and conversion of mineral
resources to proven and
probable reserves, and other
information that is based on forecasts of future operational or financial results, estimates of amounts not yet determinable and assumptions
Exploration results that include geophysics, sampling and drill results on
wide spacings may not be indicative of the
occurrence of a mineral deposit.
Such results do not provide assurance that further work will establish sufficient grade, continuity,
and economic potential
to be classified as a category of mineral resource. A mineral resource which is classified as "inferred" or indicated"
has a great amount of uncertainty as to its
existence and economic and legal
feasibility. It cannot be assumed that any or part of an "indicated mineral resource" or "inferred
mineral resource" will ever be
upgraded to a higher category of resource. Investors are cautioned not to assume that
all or any part of mineral
deposits in these categories will ever be converted
into proven and
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
or "does not anticipate"
"plans", "estimates" or
"intends" or stating
that certain actions, events
or results " may",
"might" or "will"
be taken, occur or be achieved) are not statements
of historical fact and may be "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
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, isks related to international
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. Accordingly, readers should not place undue reliance on forward-looking statements.
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.