VANCOUVER (BRITISH COLUMBIA), 4. November 2013. Aurcana Corporation ("Aurcana" or the "Company") (TSX VENTURE: AUN; OTCQX: AUNFF) is pleased to announce the appointment of Mr. David Drips as General Manager of the Shafter Mine.
Mr. Drips, a graduate mining engineer from the Colorado School of Mines, brings to the company over 35 years of experience in the mining industry - both surface and underground precious metal mines in the Americas. He held several senior management positions leading to significant improvements in safety and operational efficiency.
Mr. Drips' professional experience includes: Vice President Operations at Yukon-Nevada Gold Corp .; General Manager of Breakwater Resources Ltd.'s El Mochito Mine in Honduras; Vice President of Mexico Operations at Endeavor Silver Corp .; Director General of Plata Panamericana at Pan American Silver Corp .; Director General of Minera Cosala at Scorpio Mining Corporation; Manager of Surface Operations at American Mine Services; General Manager of the Julietta Mine in the Far East of Russia at Bema Gold Corporation; General Manager of La Camorra Mine in Venezuela at Hecla Mining Company; and Founder / President of Intermountain Mine Services & Mineral Resources Engineering, which specializes in the development and construction of coal and hard rock underground mines.
Prior to joining Aurcana, Mr. Drips served as Vice President and General Manager of the Velardeña operations at Golden Minerals Company.
"Mr. Drips brings significant engineering and business expertise to our Shafter operations. Aurcana is pleased to have someone like Mr. Drips in their company, "said Lenic Rodriguez, President and CEO of Aurcana.
The company also wants to announce an update of recent developments at the Shafter Mine.
Over the next few 90 days, the Shafter mine will make a number of improvements to the mill and processing plant. In addition, important spare parts will arrive and be installed. These include the replacement of the large gears and the drive pinion. The company's focus is now on its work and resources to complete the necessary changes.
Status of the mine Shafter
• Operation of the Shafter Mine has been suspended as the large gears and drive pinions must be replaced. The replacement parts have already been ordered and should reach 2013 at the end of the fourth quarter. A new ball mill motor has also been ordered to arrive at 2013 by the end of the year; The old engine will be overhauled and used as a replacement engine.
• The erosion and downhole diamond drilling will continue with additional drilling at the beginning of November 2013 to better define the mining targets.
• Plant erection and modification will continue to ensure continuous production throughput of 2014 tpd by mid-year 1.500. At the same time, maintenance work will be carried out on the existing plant to reduce downtime in the coming months.
• A new custom retort, ovens and related dust collection systems are expected to be installed and commissioned by the end of 2013.
• Three new precipitate filter presses have already been installed in the refinery and will be put into operation as soon as the ball mill is restarted.
• The construction of the countercurrent decanter (CCD) circuit and new primary thickener has begun. These units are expected to be fully operational by the second quarter of 2014.
• Unimportant staff has been temporarily suspended until dismantling and processing operations resume. Shafter continues to focus on finding technically competent personnel to complement its existing staff.
About Aurcana Corporation
Aurcana Corporation is a primary silver producer with two mining operations, La Negra in Mexico and Shafter in the US state of Texas. With its existing mining operations, the company is well positioned to grow organically and become a leading silver producer.
About the Company
Its shares are traded on the OTCQX market in the United States under the symbol "AUNFD". Investors will find the latest financial data and the performance of the Company in the Realtime Level 2 chart at www.otcqx.com and www.otcmarkets.com.
Lenic Rodriguez, President & CEO
AURCANA CORPORATION
Andrew Kaczmarek, in his role as Qualified Person (under the National Instrument 43-101) and Company CEO, has reviewed and approved the scientific and technical information contained in this release.
The TSX Venture Exchange and its regulators (referred to in the Articles of Association of the TSX Venture Exchange as Regulation Services Providers) accept no responsibility for the adequacy or accuracy of this announcement.
PM 13 / 34
This press release contains certain forward-looking statements, including statements regarding mill throughput at the Shafter Mine, schedule of Shafter upgrades and repairs, potential mineralization, exploration results, future plans and objectives of the Company, and its business and financial performance company. These statements are forward-looking statements that involve various risks and uncertainties. These forward-looking statements include, but are not limited to, statements regarding the mining and processing of ore, the achievement of planned recovery rates, production rates and mine life, operational efficiency, costs and expenditures, changes in material resources, and the conversion of mineral resources into verified and probable reserves, as well as other information based on forecasts of future operating or financial results and estimates of unidentifiable and management-accepted figures. Estimates of the future throughput of the Shafter project are based on the following factors and assumptions: (i) mine development and the successful cutting of the predicted ore zones provide the required material for the processing plants; (ii) that the availability of equipment and spare parts enable the required production rates to be achieved; (iii) that catastrophic equipment failures do not occur; (iv) there are no blackouts or shortages; (v) there are no delays in receiving, installing and commissioning the mine and plant equipment necessary to achieve and maintain the planned production rates; and (vi) that the required qualified and experienced personnel can be recruited and retained.
Exploration results, including geophysical surveys, sampling and long-distance drilling, may not indicate the presence of a mineral deposit. Such results do not provide any assurance that future work will result in sufficient grades, continuity, metallurgical properties, and economic potential to be classified as a mineral resource. A mineral resource classified as "derived" or "indicated" has a high degree of uncertainty as to its existence and economic and legal feasibility. It can not be assumed that any "Indicated Mineral Resources" or "Inferred Mineral Resources", or any part thereof, will ever be classified in a higher category. Investors must not assume that all mineral deposits of these categories, or parts thereof, will ever be tested and probable reserves.
Statements that explicitly or implicitly relate to forecasts, expectations, assumptions, plans, goals, assumptions, or future events or performance (which are frequently, but not always, expressed in words or phrases such as "expected" or "not expected", are expected "," Assumes "or" does not assume, "" plans, "" estimates, "" intends, "to be expressed, or expressed by any statement that" events, "" results, "or" results "Are"), are not historical facts and could be "forward-looking statements". Forward-looking statements involve a variety of risks and uncertainties that could cause actual events or results to differ materially from those expressed in forward-looking statements.
Actual results may differ materially from those contained in the forward-looking statements. Important factors that could differ materially from the Company's expectations include: risks associated with international operations, failure in exploration, provision of equipment by suppliers, availability of skilled labor, conclusions based on economic analysis, changes in environmental performance Project parameters in the course of detailed planning, a change in metal prices, changes in the financing of mineral exploration and development activities, unexpected personnel changes in corporate governance and the general economic situation. Investors and others, when relying on forward-looking statements when making their decisions, should take sufficient account of the factors and other uncertainties set out above, and should not place undue reliance on such forward-looking statements. The Company does not intend to update any forward-looking statements made by the Company itself or on behalf of the Company in an oral or written form, except as required by applicable securities laws. Readers are cautioned not to rely unreservedly on forward-looking statements.
Lenic Rodriguez, President & CEO
Catalin Chiloflischi, Corporate Communications Director
(604) 331-9333
Toll Free: (866) 532-9333
(604) 633-9179 (FAX)
ppgad@pucrs.br
www.aurcana.com
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