VANCOUVER, July 21, 2014 /CNW/ - Pan American Silver Corp. ("Pan American" or the "Company"), (NASDAQ: PAAS; TSX: PAA) today
reports that the strike at its San Vicente mine in Bolivia, which began
on July 7, 2014, has now been settled. Production activities at the
mine have resumed this morning, July 21st, 2014.
Based on the relatively short duration of the strike, the Company
believes that there is a reasonable probability that San Vicente will
still be able to achieve its full-year production forecast of 3.9 to
4.0 million ounces of silver for 2014.
About Pan American Silver
Pan American's mission is to be the world's pre-eminent silver producer,
with a reputation for excellence in discovery, engineering, innovation,
and sustainable development. The Company has seven operating mines in
Mexico, Peru, Argentina, and Bolivia, and several development projects
in the USA, Mexico, Peru, and Argentina.
Technical information contained in this news release with respect to Pan
American has been reviewed by Michael Steinmann, P.Geo., Executive VP
Corporate Development & Geology, and Martin Wafforn, P.Eng., VP
Technical Services, who are the Company's Qualified Persons for the
purposes of NI 43-101.
THIS NEWS RELEASE CONTAINS "FORWARD-LOOKING STATEMENTS" WITHIN THE
MEANING OF THE UNITED STATES PRIVATE SECURITIES LITIGATION REFORM ACT
OF 1995 AND "FORWARD-LOOKING INFORMATION" WITHIN THE MEANING OF
APPLICABLE CANADIAN SECURITIES LEGISLATION. STATEMENTS CONTAINING
FORWARD-LOOKING INFORMATION EXPRESS, AS AT THE DATE OF THIS NEWS
RELEASE, THE COMPANY'S PLANS, ESTIMATES, FORECASTS, PROJECTIONS,
EXPECTATIONS, OR BELIEFS AS TO FUTURE EVENTS OR RESULTS. GENERALLY,
FORWARD-LOOKING INFORMATION CAN BE IDENTIFIED BY THE USE OF
FORWARD-LOOKING TERMINOLOGY SUCH AS "PLANS", "PROJECTS" OR "PROJECTED",
"EXPECTS" OR "DOES NOT EXPECT", "IS EXPECTED", "ESTIMATES",
"FORECASTS", "SCHEDULED", "INTENDS", "ANTICIPATES" OR "DOES NOT
ANTICIPATE", OR "BELIEVES", OR VARIATIONS OF SUCH WORDS AND PHRASES, OR
STATEMENTS THAT CERTAIN ACTIONS, EVENTS OR RESULTS "MAY", "CAN",
"COULD", "WOULD", "MIGHT" OR "WILL BE TAKEN", "OCCUR" OR "BE ACHIEVED".
SUCH FORWARD-LOOKING STATEMENTS AND INFORMATION INCLUDE, BUT ARE NOT
LIMITED TO STATEMENTS AS TO: THE CONSEQUENCES OF ANY WORK STOPPAGES;
THE ESTIMATED PRODUCTION OF THE SAN VICENTE MINE AND THE ABILITY TO
ACHIEVE THOSE PRODUCTION ESTIMATES; AND THE ABILITY OF PAN AMERICAN TO
PREVENT ADDITIONAL OR UNINTENDED CONSEQUENCES TO ITS OPERATIONS AS A
RESULT OF LABOUR DISPUTES OR TO PREVENT FUTURE DISPUTES WITH WORKERS.
THESE STATEMENTS REFLECT THE COMPANY'S CURRENT VIEWS WITH RESPECT TO
FUTURE EVENTS AND ARE NECESSARILY BASED UPON A NUMBER OF ASSUMPTIONS
AND ESTIMATES THAT, WHILE CONSIDERED REASONABLE BY THE COMPANY, ARE
INHERENTLY SUBJECT TO SIGNIFICANT BUSINESS, ECONOMIC, COMPETITIVE,
POLITICAL AND SOCIAL UNCERTAINTIES AND CONTINGENCIES. MANY FACTORS,
BOTH KNOWN AND UNKNOWN, COULD CAUSE ACTUAL RESULTS, PERFORMANCE OR
ACHIEVEMENTS TO BE MATERIALLY DIFFERENT FROM THE RESULTS, PERFORMANCE
OR ACHIEVEMENTS THAT ARE OR MAY BE EXPRESSED OR IMPLIED BY SUCH
FORWARD-LOOKING STATEMENTS CONTAINED IN THIS NEWS RELEASE AND THE
COMPANY HAS MADE ASSUMPTIONS AND ESTIMATES BASED ON OR RELATED TO MANY
OF THESE FACTORS. SUCH FACTORS INCLUDE, WITHOUT LIMITATION:
FLUCTUATIONS IN CURRENCY MARKETS (SUCH AS THE PERUVIAN SOLE, MEXICAN
PESO, ARGENTINE PESO AND BOLIVIAN BOLIVIANO VERSUS THE U.S. DOLLAR);
RISKS RELATED TO THE TECHNOLOGICAL AND OPERATIONAL NATURE OF THE
COMPANY'S BUSINESS; CHANGES IN NATIONAL AND LOCAL GOVERNMENT,
LEGISLATION, TAXATION, CONTROLS OR REGULATIONS AND POLITICAL OR
ECONOMIC DEVELOPMENTS IN CANADA, THE UNITED STATES, MEXICO, PERU,
ARGENTINA, BOLIVIA OR OTHER COUNTRIES WHERE THE COMPANY MAY CARRY ON
BUSINESS IN THE FUTURE; RISKS AND HAZARDS ASSOCIATED WITH THE BUSINESS
OF MINERAL EXPLORATION, DEVELOPMENT AND MINING (INCLUDING ENVIRONMENTAL
HAZARDS, INDUSTRIAL ACCIDENTS, UNUSUAL OR UNEXPECTED GEOLOGICAL OR
STRUCTURAL FORMATIONS, PRESSURES, CAVE-INS AND FLOODING); INADEQUATE
INSURANCE, OR INABILITY TO OBTAIN INSURANCE, TO COVER THESE RISKS AND
HAZARDS; EMPLOYEE RELATIONS; RELATIONSHIPS WITH AND CLAIMS BY LOCAL
COMMUNITIES AND INDIGENOUS POPULATIONS; AVAILABILITY AND INCREASING
COSTS ASSOCIATED WITH MINING INPUTS AND LABOUR; THE SPECULATIVE NATURE
OF MINERAL EXPLORATION AND DEVELOPMENT, INCLUDING THE RISKS OF
OBTAINING NECESSARY LICENSES AND PERMITS AND THE PRESENCE OF LAWS AND
REGULATIONS THAT MAY IMPOSE RESTRICTIONS ON MINING; GLOBAL FINANCIAL
CONDITIONS; CHALLENGES TO, OR DIFFICULTY IN MAINTAINING, THE COMPANY'S
TITLE TO PROPERTIES AND CONTINUED OWNERSHIP THEREOF; CONCLUSIONS OF
ECONOMIC EVALUATIONS, AND CHANGES IN PROJECT PARAMETERS TO DEAL WITH
UNANTICIPATED ECONOMIC OR OTHER FACTORS; INCREASED COMPETITION IN THE
MINING INDUSTRY FOR PROPERTIES, EQUIPMENT, QUALIFIED PERSONNEL, AND
THEIR COSTS; AND THOSE FACTORS IDENTIFIED UNDER THE CAPTION "RISKS
RELATED TO PAN AMERICAN'S BUSINESS" IN THE COMPANY'S MOST RECENT FORM
40F AND ANNUAL INFORMATION FORM FILED WITH THE UNITED STATES SECURITIES
AND EXCHANGE COMMISSION AND CANADIAN PROVINCIAL SECURITIES REGULATORY
AUTHORITIES. INVESTORS ARE CAUTIONED AGAINST ATTRIBUTING UNDUE
CERTAINTY OR RELIANCE ON FORWARD-LOOKING STATEMENTS. ALTHOUGH THE
COMPANY HAS ATTEMPTED TO IDENTIFY IMPORTANT FACTORS THAT COULD CAUSE
ACTUAL RESULTS TO DIFFER MATERIALLY, THERE MAY BE OTHER FACTORS THAT
CAUSE RESULTS NOT TO BE AS ANTICIPATED, ESTIMATED, DESCRIBED OR
INTENDED. THE COMPANY DOES NOT INTEND, AND DOES NOT ASSUME ANY
OBLIGATION, TO UPDATE THESE FORWARD-LOOKING STATEMENTS OR INFORMATION
TO REFLECT CHANGES IN ASSUMPTIONS OR CHANGES IN CIRCUMSTANCES OR ANY
OTHER EVENTS AFFECTING SUCH STATEMENTS OR INFORMATION, OTHER THAN AS
REQUIRED BY APPLICABLE LAW.
SOURCE Pan American Silver Corp.
