Day: January 19, 2016

Canarc CEO Catalin Chiloflischi comments: “The PEA clearly indicates that our El Compas Mine has the potential to be an economically robust, low cost, high margin, rapid payback project even at lower metal prices, thanks in part to its high grades, low costs and low capital expenditure requirements. We will now turn our focus to arranging the capital financing needed to develop this attractive gold-silver mine and place it into production.”

“Continued strong performance in the fourth quarter capped off a transformative year for Great Panther”, stated Robert Archer, President & CEO. “We delivered new annual records for silver, gold, and total metal production and beat our already upwardly revised guidance by about 300,000 Ag eq oz. The ongoing ramp up in production at San Ignacio, with higher gold grades, was the major factor in this year-over-year increase. In addition, Topia exceeded one million Ag eq oz for the first time. Operational efficiencies and grade control improved significantly and I would like to congratulate our entire team for a banner year. The increase in production at higher grades allowed us to lower our costs substantially such that Great Panther is well-positioned to withstand this period of depressed metal prices and take advantage of future price rises.”

Commenting on the Company’s fourth quarter and annual production results, Steve Busby, Chief Operating Officer said, “We had an excellent operating year, achieving new silver production records at four of our mines. At the same time, we were able to meaningfully reduce our operating cash costs on the back of strong by-product gold and copper production, helped to a lesser extent by weakening local currencies and lower oil prices.” Busby continued, “I am extremely pleased to extend my personal thanks to our dedicated and highly capable operating and project teams who, for the fourth consecutive year, achieved another annual consolidated silver production record for the Company, while simultaneously advancing our two exciting mine expansion projects.”

“Our production results for the fourth quarter marked a strong finish to 2015 and were consistent with expectations,” said Keith Neumeyer, President & CEO. “Despite some minor production decreases in our effort to produce profitable ounces in this distressed market, we still pulled off a record quarter and another record year. Our transformational strategy for reducing costs and improving operational procedures is working, and along with Santa Elena’s successful integration, I feel that we have truly turned a corner in this challenging market. ”

Paget Minerals Corp. announces that the shareholders have approved the 15 to 1 share consolidation as previously announced, at the Special Meeting today. The funds raised in the subscription receipts financing will be released to Paget shortly.