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Aurcana Silver Corporation (AUN.V)

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  • Aurcana Silver Project Update, Filing of 1st Quarter Finanicals and Award of Options
    GlobeNewswire

    Aurcana Silver Project Update, Filing of 1st Quarter Finanicals and Award of Options

    VANCOUVER, British Columbia, May 27, 2021 (GLOBE NEWSWIRE) -- AURCANA SILVER CORPORATION ("Aurcana" or the "Company") (TSXV: AUN, OTCQX: AUNFF) is pleased to announce another strong month of pre-production activities at the Company’s wholly owned Revenue-Virginius Mine in Ouray, Colorado. The Company remains on track with the guidance provided in its May 4, 2021 press release for production to ramp up during July 2021 and its target of reaching full production levels in September 2021. During the month of May, key underground activities included continued steady advance rates in the vertical development of the alimak raises. The #1 Alimak Raise development is nearly complete and ready for installation of the timber and hoist. The #3 Alimak Raise has reached the 1800 level. Crosscut development to intersect the main Virginius vein on the 1800 level is on schedule and process plant upgrades remain on track. Operations are fully staffed. The Company also announces its filing on SEDAR of its Unaudited Financial Statement and Management Discussion and Analysis for the 1st quarter 2021. Lastly, the Company’s Board of Directors has approved the issuance of incentive stock options to purchase an aggregate of 6,120,000 common shares to management, employees, directors, and consultants to the Company. The options have a term of five years, with an exercise price per share of C$1.10, which represents approximately a 25% premium over the 30 day VWAP of Aurcana’s common shares on the TSX Venture Exchange. The options will vest over a period of three years. In line with the Company’s objective to incentivize its operating team and to create a culture where workers adopt an owner mindset, the options were awarded to all levels of employees at the Company’s wholly owned Ouray Silver Mines, Inc. (100% holder of the Revenue-Virginius Mine). Qualified Person Statement The scientific and technical content of this news release was reviewed and approved by Michael Gross, P. Geo, a “qualified person” within the meaning of NI 43-101 ABOUT AURCANA CORPORATION Aurcana Corporation owns the Revenue-Virginius Mine, in Colorado, and the Shafter-Presidio Silver Project in Texas, US. The primary resource at Shafter and Revenue-Virginius is silver. Both are fully permitted for production. 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 Corporation850 – 789 West Pender StreetVancouver, BC V6C 1H2Phone: (604) 331-9333 Gary Lindsey, Corporate CommunicationsPhone: (720)-273-6224 Email: gary@strata-star.com CAUTIONARY NOTESThis 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, this press release contains forward looking statements concerning, without limitation, statements relating to the Private Placement (including with respect to the timing of closing of the Private Placement). 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 or shareholder approvals, and risks related to the state of financial markets or future metals prices. 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. 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.

  • Metals & Mining Investor Conference Presentations Now Available for On-Demand Viewing
    CNW Group

    Metals & Mining Investor Conference Presentations Now Available for On-Demand Viewing

    Virtual Investor Conferences, the leading proprietary investor conference series today announced that the presentations from the May Metals & Mining Virtual lnvestor Conference are now available for on-demand viewing.

  • Aurcana Provides Construction Update and Production Outlook for Its Revenue Virginius Mine for the Remainder of 2021
    GlobeNewswire

    Aurcana Provides Construction Update and Production Outlook for Its Revenue Virginius Mine for the Remainder of 2021

    Figure 1 Revenue-Virginius Mine Development Progress NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES VANCOUVER, British Columbia, May 04, 2021 (GLOBE NEWSWIRE) -- AURCANA SILVER CORPORATION ("Aurcana" or the "Company") (TSXV: AUN, OTCQX: AUNFF) is pleased to provide a construction update and a production outlook for the remainder of 2021 for its Revenue Virginius Mine, (RV) located near Ouray, Colorado. Mine Development Underground mine development is proceeding on schedule with three raises being driven vertically from the 2000 main haulage level 800 feet to the 1200 level (See Figure 1 below).The #1 Alimak raise is advancing vertically at an average rate exceeding 16 feet per day and is scheduled to be complete by late May, after which the hoist and shaft timber will be installed for permanent men and material access.The #2 Alimak raise has progressed up to the 1500 level and is temporarily being used for men and materials transport from the 2000 level to the 1800 and 1500 level pending completion of #1 Alimak raise.The #3 Alimak raise vertical development began in May and is scheduled to reach the 1800 level by the third week of May.On completion of #1 Alimak raise, the #2 and #3 Alimak raises will be dedicated ore and waste raises.Level (horizontal) development has commenced on the 1800 level to intersect the Virginius vein, which is scheduled to occur during the third week of May. Following this, development will continue by driving drifts both north and south on vein for over 1000 feet to prepare for stope development.Stope development on the 1800 level is estimated to begin in late June with first ore to the mill in early July.Ore development on 1800 level is on schedule to deliver initial ore to the processing plant in July. Two stopes (mining blocks) on the 1800 level will provide the initial ore supply while stopes on the 1500 level are developed.It is anticipated that four stopes will be available by year end 2021 (two stopes per level) to supply the processing plant. However only two stopes are required to provide the 270 tons per day as specified in the 2018 feasibility study (the “2018 FS”) prepared in accordance with National Instrument NI 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). A copy of the 2018 FS is posted on the Company’s website www.aurcana.com and is also available on the Company’s profile on SEDAR at www.sedar.com. Processing Plant Preparation All processing plant upgrades including installing additional flotation capacity, replacing cyclones with sizing screens, installing a rod mill, installing crushers and conveyors along with a new instrument control system will be completed by mid-June. Processing plant commissioning with water is scheduled for the last week of June with first ore through the processing plant in the second week of July.Final work on the transition chute from the coarse ore bin to the new primary pan feeder is scheduled to be completed by July 10th, 2021 and will enable full processing plant operation.Throughput will be ramped up over the course of July to reach 111 tons per day (tpd) during August, and then to the full production level of 270 tpd during September.Concentrate shipments will be in 100 ton lots and are anticipated to begin in early August. Trafigura Trading LLC is the off-taker for 100% of the concentrates and will pay the value of 95% of the contained metals based on the mine site concentrate assays at the time of shipment, with final settlement based on smelter returns.Payable silver equivalent1 production for the period between August to December 2021 is anticipated to be 1,300,000-1,600,000 ounces at an estimated cash operating costs of between USD10.00 to USD12.00/oz silver after by-product credits2. Qualified Person Statement The scientific and technical content of this news release was reviewed and approved by Michael Gross, P. Geo, a “qualified person” within the meaning of NI 43-101 ABOUT AURCANA CORPORATION Aurcana Corporation owns the Revenue-Virginius Mine, in Colorado, and the Shafter-Presidio Silver Project in Texas, US. The primary resource at Shafter and Revenue-Virginius is silver. Both are fully permitted for production. 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 Corporation850 – 789 West Pender StreetVancouver, BC V6C 1H2Phone: (604) 331-9333 Gary Lindsey, Corporate CommunicationsPhone: (720)-273-6224Email: 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, this press release contains forward looking statements concerning, without limitation, statements relating to the Private Placement (including with respect to the timing of closing of the Private Placement). 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 or shareholder approvals, and risks related to the state of financial markets or future metals prices. 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. 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. 1 Silver equivalent is based on the April 2021 average COMEX prices of Ag USD25.6534/oz, Au USD1,759.47/oz, Cu USD4.2281/lb, Pb USD0.9152/lb and Zn SDU1.2849/lb; includes payability and payment timing of the Trafigura offtake contract. 2 By-product credit metal pricing is the same as Silver equivalent pricing A graphic accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9df5d571-1159-4008-99e5-a7a9eebf5b41