Montreal, Quebec--(Newsfile Corp. - December 22, 2014) - Aurvista Gold
Corporation (TSXV: AVA) (OTC:
ARVSF) ("Aurvista" or the "Company") extends its Best Wishes to Shareholders and Stakeholders for the
upcoming Holiday Season and for a Happy and Prosperous New Year.
As Aurvista's President and CEO, I am pleased with the number
of successful technical accomplishments the Company achieved in 2014 on our
Douay Gold Project ("Douay"). The Company concluded an interpretation of
previous magnetic and electromagnetic geophysical work, identifying numerous
potential targets for 2015, completed a Preliminary Economic Assessment ("PEA")
on the Douay West Zone, and a key agreement with the First Nation community of
Pikogan.
Q2-2014 saw the arrival of Mr. Chris Sharpe, P. Eng., to the
role of Vice President Engineering, who helped advance the engineering and
development of the Douay West Zone. On December 9, 2014, Aurvista announced
results of the Company's PEA on Douay West. The PEA considered both open pit and
underground production options. The PEA schedule assumed mining 419,000 tonnes
of mineralized material in the open pit at an average grade of 3.16 g/t gold (at
a cut-off of 1.17 g/t gold). The underground operation would mine 133,000
mineralized development tonnes at a grade of 4.57 g/t gold and 608,000 stoping
tonnes at a grade of 4.83 g/t gold (at a cut-off grade off 3.25 g/t gold).
The study showed a pre-tax Net Present Value ("NPV") of $25.0
million using a discount rate of 5% and post-tax NPV of $16.6 million using a
discount rate of 5% assuming an approximate two-year average gold price of
US$1,350 per ounce and an exchange rate of 1.00 $C = 0.95 US$. The pre and
post-tax internal rates of return for the project were 55% and 40%,
respectively. The NPV included initial preproduction expenditures estimated at
$12.2 million to achieve first production from the open pit. The project life is
3.7 years, after approximately one-year of open pit pre-stripping. The Life of
Mine ("LOM") cash operating costs are $800 per ounce of gold, and the LOM all-in
sustaining cost are $1,195 per ounce of gold, with a 3.2 year pay-back period
from the start of development. Aurvista continues to investigate potential toll
milling agreements with local mills.
Based on these positive results, a Prefeasibility study on the
Douay West Zone will be initiated in 2015. Aurvista, in support of this
initiative, has already began a 5,000 metre drilling campaign to enhance the
Project's economics. Should this proposed drill campaign succeed in increasing
the size and quality of the compliant Mineral Resources and subsequently the
projects production profile, this could result in a higher NPV and extended mine
life.
Early in Q4-2014 Aurvista signed a letter of collaboration
("LOC") with the Abitibiwinni First Nation ("AFN") of the Pikogan community, laying the ground work for
future, more detailed discussions to take place between Aurvista and the AFN.
This agreement represents both parties intent to develop a collaborative
relationship moving forward with the development of Douay. The completion of the
LOC from management's perspective represents a major step forward in the
permitting process of the Douay West Zone. We look forward to this new style of
dialogue.
Aurvista also began a new exploration initiative to investigate
more thoroughly, the 20 kilometre long Casa Berardi Deformation Zone (the
"CBDZ") that transects Douay. To date less than 10 kilometres of this area has
been reasonably explored. In the second half of 2014, the Company completed a
geophysical reinterpretation of the 2011 magnetic and historic magnetic -
electromagnetic ("EM") INPUTTM airborne geophysical surveys from
Douay. Initial results have shown a direct correlation between magnetic
signatures and multi-kilometric gold-bearing mineralization, alterations and
structural corridors. All known higher and lower grade gold mineralization is
encompassed in a 10 km long by 3 km wide, parallelogram-shaped block which is
stated as Douay-Style Mineralization ("DSM"). Some 25 additional targets were
uncovered, adding to the significant potential of Douay. A number of EM
INPUTTM anomalies associated with a mix of felsic and mafic volcanic
rocks could be associated to base metal mineralization. There is one specific
VMS east-west target, some 6 km long, adjoining the DMS and containing a 1 km
wide cluster of EM INPUTTM anomalies or conductors.
The Company believes that the work programs that have been
commenced and will continue into 2015 are critical to bring Aurvista towards its
fair market value.
I wish to thank my fellow Board members for their continued
active participation in the ongoing strategic advancement of the project. I
would personally like to thank Gerald McCarvill (Chairman), Ed King, Robert
Mitchell, Bryan Keeler, Claude St-Jacques and Marc l'Heureux, and the
Management/Technical Team, Chris Sharpe, David Johnston, Michael Kneeshaw, Denis
Chénard and crews at Explo-Logik for their support and exceptional work
throughout 2014.
The technical contents in this news release have been
approved by Mr. Jean Lafleur, M. Sc., P. Geo., President and CEO for Aurvista
Gold Corporation, a Qualified Persons under National Instrument 43-101.
About Aurvista Gold
Aurvista Gold Corporation is a junior gold exploration and
development company. Aurvista's only asset is the Douay Gold Project, consisting
of 221 wholly owned claims totaling approximately 11,430 hectares. The Douay
Project's North West Zone has 32 designated claims for a total of 1,193 hectares
and is in a Joint Venture agreement with SOQUEM.
The Douay Gold Project is located on the Casa Berardi Fault in
northern Quebec, and contains Mineral Resources of 114,652,000 million tonnes at
0.75 g/t gold (2.8 million ounces of gold) in the Inferred category and
2,689,000 tonnes at 2.76 g/t gold (238,433 ounces of gold) in the Measured and
Indicated category, at a cut-off of 0.3 g/t gold.
Details of the Douay Gold Project can be viewed on the
Company's website at www.aurvistagold.com. Refer to the latest
newsletter updates at www.miningmarketwatch.net.
This news release may contain forward-looking statements based
on assumptions, uncertainties and management's best estimate of future events.
Actual events or results could differ materially from the Company's expectations
and projections. Investors are cautioned that forward-looking statements involve
risks and uncertainties. Accordingly, readers should not place undue reliance on
forward-looking statements. When used herein, words such as "anticipate",
"will", "intend" and similar expressions are intended to identify
forward-looking statements. For a more detailed discussion of such risks and
other factors that could cause actual results to differ materially from those
expressed or implied by such forward-looking statements, refer to Aurvista Gold
Corporation's filings with Canadian securities regulators available on
www.sedar.com or the Company's website at
www.aurvistagold.com.
For further information please contact
Jean Lafleur, M. Sc., P. Geo.
President and CEO
Cell +1 514 975 3633
Facsimile +1 416 504 4129
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