VANCOUVER, BRITISH COLUMBIA — (Marketwired) — 08/29/13 — Aurcana Corporation (TSX VENTURE: AUN)(OTCQX: AUNFD) („Aurcana“ or the „Company“) today is pleased to report its unaudited financial results for the second quarter ended June 30, 2013.
The Q2 2013 Earnings Webcast and Conference Call has been scheduled for 10:00 am PST (1:00 pm EST) on Friday, August 30, 2013. See the bottom of this press release for details.
Mr. Lenic Rodriguez, Aurcana-s President & CEO, said: „We are pleased to report that Aurcana increased its second quarter silver equivalent production from La Negra by 38% over the first quarter of 2013, and the mill at La Negra exceeded its new capacity of 3,000 tonnes per day („tpd“). With technical improvements at Shafter now underway and increased efficiencies at La Negra, the company remains strategically positioned for continued growth.“
A video message from Mr. Lenic Rodriguez, talking about Aurcana-s Q2 2013 results, can be watched at the following link:
Highlights of La Negra-s Second Quarter ended June 30, 2013:
The summary of the selected financial information should be read in conjunction with the unaudited financial statements and the related management-s discussion and analysis for the three and six month periods ended June 30, 2013, together referred to as the „Financial Statements“ filed on and available on . All figures are in US dollars unless otherwise noted.
Update on Red Kite Financing
The Company announces that it is working with Red Kite Mine Finance on the settlement of definitive loan documentation for a three year loan facility of $50 million and an Off-take Agreement for the silver produced at the Shafter mine. The transaction is now expected to be completed in September 2013.
Second Quarter Production and Operational Highlights
La Negra Mine
Shafter Mine
The Company expects that the Shafter plant will run at a rate of approximately 600 tpd during Q3 2013 and achieve its design target of 1,500 tpd during 2014, subject to the successful completion of the Red Kite financing.
Conference call details
The recorded webcast will be posted to Aurcana-s website.
Financial Statements and MD&A
To read complete Financial Statement and MD&A please visit: , or
About Aurcana Corporation
Aurcana Corporation is a primary silver producing company with two mines: La Negra Mine in Mexico and Shafter Mine in Texas, US. The Company is in a position to grow organically from its existing mines in its pursuit to become an emerging senior silver producer. Aurcana continues to focus on its future growth.
Corporate
The Company-s shares are also traded in the United States on OTCQX under the symbol „AUNFD“. Investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on and .
Lenic Rodriguez, President & CEO
AURCANA CORPORATION
Mr. Nils von Fersen, P.Geo., a qualified person (as defined in National Instrument 43-101) and the Company-s Vice-President, Exploration and Dr. Sadek El-Alfy, a qualified person and the Company-s Vice-President, Operations have reviewed and approved the scientific and technical information contained in this release.
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.
NR-13-27
This news release contains certain forward-looking statements, including statements regarding the closing of the debt financing with Red Kite, forecast silver production, silver grades, recoveries, potential mineralization, exploration results, 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 projected recovery 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 of management.
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, metallurgical characteristics 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 probable reserves.
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, the Company and Red Kite-s ability to finalize loan documentation relating to the financing, risks related to international operations, unsuccessful exploration results, the ability of suppliers to provide equipment, the availability of skilled labour, 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 pursuant to applicable securities laws. Accordingly, readers should not place undue reliance on forward-looking statements.
Contacts: Aurcana Corporation Lenic Rodriguez President & CEO (604) 331-9333 or Toll Free: (866) 532-9333
Aurcana Corporation Catalin Chiloflischi Corporate Communications Director (604) 331-9333 or Toll Free: (866) 532-9333 (604) 633-9179 (FAX)
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