VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/12/13 -- Aurcana Corporation ("Aurcana" or the "Company") (TSX VENTURE: AUN)(OTCQX: AUNFF)(PINKSHEETS: AUNFF) is pleased to announce the appointment of a new board member.
Mr. Lenic Rodriguez, President & CEO of Aurcana Corporation states: "I am very pleased to announce the appointment of Mr. Arthur H. Ditto as a board member of Aurcana. Mr. Ditto's extensive mine operating experience, having served as President, CEO, and director of a number of major public mining companies, including Kinross Gold Corporation, will strengthen our leadership as we work to become a senior silver producer."
Board of Directors Appointment
Mr. Arthur H. Ditto, Director
Mr. Arthur H. Ditto is a professional mining Engineer with 40 years of experience in management, transactions, and corporate financing in the mining industry. A retired senior mining executive, Mr. Ditto served as President, CEO, and director of a number of major public mining companies including Kinross Gold Corporation, and Katanga Mining Limited.
From 2005 to 2008 he served as President, CEO and Director of Katanga Mining Limited. From 1993 to 2005 he served as a Director of Kinross Gold Corporation and was its President and COO until 2001. Mr. Ditto also served as Vice Chairman during 2002 and 2003. During this time, he was instrumental in the acquisition, restructuring and mine site expansion of Kinross Gold. The Company grew from one operation to as many as 14 units operating in the USA, Canada, Russia, Brazil, Chile and Africa and increased annual gold output from about 30 thousand ounces to about 1.6 million ounces of gold. Mr. Ditto has extensive background and experience in acquisitions, restructuring, as well as expanding business units.
Environmental and Socially Responsible Company Award
Aurcana is also pleased to announce that it was awarded the distinction of being recognized as an Environmental and Socially Responsible Company (ESR) by the Mexican Center for Philanthropy (CEMEFI), for its La Negra Mine operations in Mexico.
This prestigious award recognizes each year a select number of companies for taking the valuable voluntary and public commitments for the implementation of environmental and socially responsible management as well as continuous improvement as part of their culture, business strategy and day to day operations. This award reaffirms Aurcana's commitment to environmental and social responsibility as an integral part of its corporate strategy.
About Aurcana Corporation
Arcana Corporation is an emerging senior silver producer with two operating mines located in Mexico and Texas, United States.
La Negra Mine, Mexico, current installed capacity is 2,500tpd. In order to allow for an increase in future production, La Negra mine is now working to increase mill capacity to 3,000tpd by the end of Q1, 2013.
La Negra has a NI 43-101 M&I resource of 115.1 million (mm) oz silver, 1,418.7 mm lbs zinc, 539.5 mm lbs lead and 269.5 mm lbs copper and an Inferred Resource of 56.5 mm oz silver, 657.4 mm lbs zinc, 263.0 mm lbs. lead and 132.3 mm lbs copper.
Commissioning and mill testing of the Shafter Mine in Texas commenced on April 1, 2012 and commencement of commercial production was achieved in December 2012. The Shafter Silver Mine, according to the data from the published feasibility study, is expected to produce 3.8 million ounces of silver over 12 months once ramp up to its 1,500tpd capacity is completed.
Shafter has a NI 43-101 M&I Resource of 23.9 mm oz of silver and an Inferred Resource of 22.8 mm oz of silver. (All National Instrument 43-101 technical reserve reports can be found on SEDAR at: www.sedar.com). Aurcana continues to focus on its future growth.
The Company's shares are 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.
ON BEHALF OF THE BOARD OF DIRECTORS OF AURCANA CORPORATION
Lenic Rodriguez, President & CEO
The scientific and technical information contained in this news release regarding the Shafter Silver Mine has been reviewed by Dr. Sadek El-Alfy, PhD, Vice President Operations, a Qualified Person ("QP") according to the definitions of NI 43-101.
Baltazar Solano-Rico and Betty Gibbs have reviewed the technical information reported in the National Instrument 43-101 technical reports regarding the La Negra Silver Mine. All National Instrument 43-101 technical reports can be found on the Company's website at www.aurcana.com or on SEDAR at www.sedar.com.
Baltazar Solano-Rico (M.Sc., Geol. Eng.) and Mrs. Betty Gibbs (E.M., MSc.) of Behre Dolbear are the independent Qualified Persons pursuant to NI 43-101 for the Company. Mr. Nils von Fersen (PGeo), Vice President, Exploration is also certified Qualified Person of the company. The technical contents of this release have also been reviewed by Nils von Fersen for QP technical disclosures.
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 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, risks related to 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. 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.