Day: January 11, 2017

“We are very pleased with our operating performance in the fourth quarter and for the year 2016,” stated Arturo Bonillas, President of the Company. “Gold ounces produced in the fourth quarter were 25,287, bringing the total to over 100,000 ounces for the year and putting us through the upper end of our guidance which had been revised higher during the year. We would like to acknowledge our dedicated team at the San Francisco Mine for their commitment and efforts during what began as a challenging year.”

Paul Benson, President and CEO said, “Our production results continue to demonstrate the strength of our operating portfolio, following the successful acquisition of the Seabee Gold Operation earlier this year. I commend our mines and their respective teams for delivering to or exceeding their operating plans. Our fourth quarter production of over 110,000 gold equivalent ounces is a strong finish to a very successful year. These results are underpinned by our operational excellence program, commitment to safe production and strong balance sheet positioning us to continue creating shareholder value in 2017.”

“Metal production was down for the fourth quarter and 2016 due to lower grades at San Ignacio and to shutdowns at Topia, with the most recent to accommodate tailings expansion and plant improvements,” stated Robert Archer, President & CEO. “The increased output from San Ignacio did result in a second consecutive annual record for gold production, and recent preliminary drill results from San Ignacio indicate that grades are likely to improve as we continue to the southeast. In addition, with the upgrades at Topia and the recently signed agreement to purchase the Coricancha Mine in Peru, we expect 2017 to be a very exciting time for Great Panther Silver as we position ourselves for production growth in future years.”

“Capstone’s 2016 consolidated copper production exceeded guidance, driven primarily by outperformance at Pinto Valley and Minto,” said Darren Pylot, President and CEO of Capstone. “Record setting production at both these operations contributed to a year of exceptional operating performance.”

Jorge A. Ganoza, President and CEO, commented: “We leave behind a year of important achievements with the successful expansion of our San Jose Mine to 3,000 tpd and the acquisition of the Lindero gold Project in Salta, Argentina. Lindero adds 1.5 million ounces of gold reserves to our existing inventory and positions Fortuna for its next leg of growth.” Mr. Ganoza continued, “In 2017, our expansion plans are going to be underpinned by our solid low-cost production base providing financial flexibility to execute engineering and development plans for Lindero and continue exploring for new compelling precious metal opportunities in the Americas and abroad.”