Day: March 12, 2019

Leagold CEO Neil Woodyer commented: “Since providing the summary results of the Expansion Feasibility Study in January 2019, our team working with the independent consultants has continued refining the new operating strategy which includes re-phasing the Bermejal open pit, expanding the Los Filos open pit, operating two high-grade underground mines, adding a CIL plant to process the higher-grade ore, and continuing heap leaching of the lower-grade open pit ore. The result of this work is a significant increase in net cash flow to $884 million. The Los Filos expansion is clearly a project we should proceed with, and we are advancing with construction planning, optimizing the sequencing of the major expansion projects as part of our financial planning, and discussing the social and economic benefits created by the expansion with our employees, contractors, unions and community members.”

“We are pleased to report these very positive early stage metallurgical tests which indicate that the California oxide, mixed oxide/sulfide, and sulfide gold zones should be amenable to cyanide heap leach or agitated leach processing methods. More detailed test-work is needed to draw any definitive conclusions but these results are a great start”, commented Joey Wilkins, President and CEO.