VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 27, 2014) - Aurcana Corporation ("Aurcana" or the "Company") (TSX VENTURE:AUN)(OTCQX:AUNFF) is pleased to report the Q3 2014 production results of 997,530 ounces silver equivalent compared to 754,828 in Q3 2013, an increase of 32%. Silver equivalent production for the Q3 2014 increased 26.8%, compared to Q2 2014. Silver production increased 32% to 412,062 in Q3 2014, compared to 312,122 in Q3 2013.
Mr. Kevin Drover, Aurcana's President & CEO, said, ''We have made large strides in mining higher grade material at La Negra, while significantly reducing costs. We are on track to achieve our production goals of between 3.5 and 4.0 million ounces of silver equivalent for 2014.''
LA NEGRA THIRD QUARTER PRODUCTION HIGHLIGHTS
- Total silver equivalent production was 997,530 ounces in Q3 2014, a 32.1% increase over Q3 2013 and a 26.8% increase over Q2 2014.
- Silver production was 412,062 in Q3 2014, compared to 312,122 in Q3 2013, an increase of 32.0%.
- Silver grade increased by 18% in Q3, 2014 averaging 65 g/t, compared to 55 g/t in Q3 2013.
- Strong production increases versus last year for base metals, including 55.3% for Zinc, 12% for Copper and 59.8% for Lead.
- The Company's production guidance for 2014 is between 3.5 and 4.0 million silver equivalent ounces.
LA NEGRA MINE OPERATIONS UPDATE
Significant progress at the La Negra Mine has been made in the areas of safety, production and costs.
The safety performance of the site continues to improve and lost time accidents (LTA) have been reduced from an average of 12 per quarter over the past six quarters to 2 LTA's in the 3rd quarter.
Production, as indicated above, has steadily improved over the quarter, mainly due to better grade control, mining of higher grade areas of the mine and better dilution control.
Cost control measures, (workforce reduction, capital expenditure controls, inventory and direct purchase controls) implemented early in the 3rd quarter have begun to show benefits.
Corporate
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.
About Aurcana Corporation
Aurcana Corporation is a primary silver producing company with two properties: the La Negra Mine in Mexico and the Shafter Silver Project in Texas, US. The latter was put on care and maintenance in December 2013, in part due to depressed silver prices. The Company is developing new mining plans for both properties as it continues to work to improve margins and shareholder value.
The technical information in this release has been reviewed by Jerry Blackwell (PGeo.), a Director and technical advisor to the Company and a Qualified Person as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS OF AURCANA CORPORATION
Kevin Drover, President & CEO
For further information, visit the website at www.aurcana.com.
NR-15-14
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. 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 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. 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, except as required by applicable law. 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.