NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED
STATES
VANCOUVER, British Columbia, Oct. 02, 2018 (GLOBE NEWSWIRE) -- Aurcana Corporation (TSX: AUN - "Aurcana" or the
"Company") is pleased to announce the filing of a technical report in support of a Feasibility Study (“FS”) for the
Revenue-Virginius Mine (the “RV Mine”) located in Colorado, United States, which is 100% owned by Ouray Silver Mines Inc. (“OSM”),
a private company incorporated under the laws of Colorado. In a news release dated July 30, 2018 (the “July 30 News Release”), the
Company announced its proposed acquisition (the “Acquisition”) of OSM by way of a statutory plan of arrangement under the
Canada Business Corporations Act (the “CBCA”). Upon the completion of the Acquisition, OSM will become a wholly-owned
subsidiary of the Company and the Company will indirectly own 100% of the RV Mine. The results of the FS were previously disclosed
in the July 30 News Release.
The technical report is titled “NI 43-101 Technical Report Feasibility Study Revenue-Virginius Mine Ouray, Colorado”, effective
date June 15, 2018 (the “Technical Report”). The Technical Report was prepared for Aurcana and OSM by Ben Parsons, MAusIMM, Eric
Olin, SME-RM, John Tinucci, PE, Jeff Osborn, MMSAQP, Brian Prosser, PE, Joanna Poeck, SME-RM, Terry Braun, PE, and John Pfahl,
SME-RM of SRK Consulting (U.S.), Inc., and Dave Mickelson, PE, of Barr Engineering. Mssrs. Parsons, Olin, Tinucci, Osborn, Prosser,
Poeck, Braun, Pfahl and Mickelson are Qualified Persons as defined under National Instrument 43-101- Standards of
Disclosure for Mineral Projects of the Canadian Securities Administrators.
The Technical Report is available under the Company’s profile at www.sedar.com and will also be available on the Company’s website at www.aurcana.com.
ABOUT AURCANA CORPORATION
Aurcana Corporation owns the Shafter Silver Project in Texas, US. The Shafter Silver Project was put on care and maintenance in
December 2013, in part due to depressed silver prices.
ON BEHALF OF THE BOARD OF DIRECTORS OF AURCANA CORPORATION
“Kevin Drover”, President & CEO
For further information, visit the website at www.aurcana.com or contact:
Aurcana Corporation
Phone: (604) 331-9333
Gary Lindsey, Corporate Communications
Phone: (720)-273-6224
Email: gary@strata-star.com
CAUTIONARY NOTES
This press release contains forward looking statements within the meaning of applicable securities laws. The use of any of
the words “anticipate”, “plan”, “continue”, “expect”, “estimate”, “objective”, “may”, “will”, “project”, “should”, “predict”,
“potential” and similar expressions are intended to identify forward looking statements. In particular, the Technical Report
contains forward looking statements concerning the anticipated completion of the Acquisition, anticipated future results of mining
activities on the RV Mine, including economic results thereof. Although the Company believes that the expectations and
assumptions on which the forward looking statements are based are reasonable, undue reliance should not be placed on the forward
looking statements because the Company cannot give any assurance that they will prove correct. Since forward looking statements
address future events and conditions, they involve inherent assumptions, risks and uncertainties. Actual results could differ
materially from those currently anticipated due to a number of assumptions, factors and risks. These assumptions and risks include,
but are not limited to, assumptions and risks associated with the receipt of regulatory and shareholder approvals of the
Acquisition, the state of the financial markets, the result of mining, development, construction, drilling and exploration
activities, that contracted parties provide goods and/or services on the agreed timeframes, risks related to future metals prices,
that equipment necessary for exploration is available as scheduled and does not incur unforeseen break downs, that no labour
shortages or delays are incurred, that plant and equipment function as specified, that no unusual geological or technical problems
occur, and that laboratory and other related services are available and perform as contracted.
Management has provided the above summary of risks and assumptions related to forward looking statements in this press
release in order to provide readers with a more comprehensive perspective on the Company’s future operations. The Company’s actual
results, performance or achievement could differ materially from those expressed in, or implied by, these forward looking
statements and, accordingly, no assurance can be given that any of the events anticipated by the forward looking statements will
transpire or occur, or if any of them do so, what benefits the Company will derive from them. These forward looking statements are
made as of the date of this press release, and, other than as required by applicable securities laws, the Company disclaims any
intent or obligation to update publicly any forward looking statements, whether as a result of new information, future events or
results or otherwise.