Good newsMineral Park Achieves Target Rate under Silver Wheaton Agreement
VANCOUVER, Apr 05, 2011 (PR Newswire Europe via COMTEX News Network) --
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VANCOUVER,April 5 /PRNewswire/ - Mercator Minerals Ltd. ("Mercator", or the"Company") is pleased to announce that its wholly owned subsidiaryMineral Park Inc. has met the requirements of its completion guaranteeunder the terms of the Silver Wheaton silver agreement following 30consecutive days of mill operation at an average of 35,000 tons perday. Mineral Park operated over the past 30 days at an average 35,238tons per day, including operating during the last 4 days at an averageof 40,840 tons per day. Mill availability for March was 98% versusyear to date availability of 95%. Mill availability is calculated usingall down time, both scheduled and unscheduled.
The SilverWheaton transaction closed in March of 2008. As part of that contractMineral Park was required to demonstrate mill operations by producingan average of 35,000 tons per day for 30 consecutive days.
GarySimmerman, BSc., Mercator's VP Engineering, a Qualified Person asdefined by NI 43-101, supervised the preparation of and verified theMercator technical information contained in this release.
About Mercator Minerals Ltd.
MercatorMinerals Ltd. is a TSX listed mining company with an experiencedmanagement team that has brought the mill expansion at the Mineral ParkMine, one of the largest and most modern copper-moly mining-millingoperations in North America, to production in less than 2 years.Mercator management is dedicated to maximizing profits at the MineralPark Mine and the development of the El Pilar copper project in Mexico.
On Behalf of the Board of Directors
MERCATOR MINERALS LTD.
Per: "Michael L. Surratt" Michael L. Surratt President
The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this press release.
ForwardLooking Information This press release contains certain forward-lookingstatements, which include estimates, forecasts, and statements as tomanagement's expectations with respect to, among other things, the useof proceeds, the size and quality of the Company's mineral reserves andmineral resources, future production, capital and mine productioncosts, demand and market outlook for commodities, and the financialresults of the Company and discussions of future plans, projections andobjectives. In addition, estimates of mineral reserves and resourcesmay constitute forward looking statements to the extent they involveestimates of the mineralization that will be encountered if a propertyis developed. These forward-looking statements involve numerousassumptions, risks and uncertainties and actual results may vary.Factors that may cause actual results to vary include, but are notlimited to, certain transactions, certain approvals, changes incommodity and power prices, changes in interest and currency exchangerates, inaccurate geological and metallurgical assumptions (includingwith respect to the size, grade and recoverability of mineral reservesand resources), unanticipated operational difficulties (includingfailure of plant, equipment or processes to operate in accordance withspecifications, cost escalation, unavailability of materials andequipment, delays in the receipt of government approvals, industrialdisturbances or other job action, and unanticipated events related tohealth, safety and environmental matters), political risk, socialunrest, and changes in general economic conditions or conditions in thefinancial markets. These risks are described in more detail in theAnnual Information Form of the Company. The Company does not assume theobligation to revise or update these forward-looking statements afterthe date of this report or to revise them to reflect the occurrence offuture unanticipated events, except as may be required under applicablesecurities laws. For a more complete discussion, please refer to theCompany's audited financial statements and MD&A for the year endedDecember 31, 2010 on the SEDAR website at www.sedar.com.
CONTACT: Marc LeBlanc, VP Corporate Development and Cor