Montreal, Quebec – (June 3, 2015) Cyprium Mining Corporation ("Cyprium" or the "Company") (TSX-V: CUG and CUG.DB) is pleased to announce details regarding the expansion plans of its flotation plant located in Aldama, Mexico. The plan has two main objectives. The first objective is to optimize plant processes and improve efficiencies to maximize recoveries in order to ensure satisfactory margins. The second objective is to double the current plant capacity to 200 tons per day. The planned investments, which started in May, should take about four months and total approximately US $400,000.
Mr. Lambert, Chairman and C.E.O. of Cyprium stated: "We want to make the Aldama plant the go-to place for small miners in the area and for that we need the most modern and efficient flotation plant possible. The plan announced today is designed to achieve this." He added: "The relationships we are building with small miners to consistently bring minerals to our plant are in great part based on trust and the key to building trust in our industry is transparency. Whether we purchase minerals at a set price or on a shared profit basis, the miners must know that we are doing a good job processing minerals so that they know they are getting paid a fair price. Transparency includes having a full modern lab on site that can accurately assay the grades and test the metallurgical properties of the minerals and concentrates."
Mr. Ron Keenan, C.O.O. of Cyprium stated: "Key aspects of the Aldama expansion plan include making investments in technology and modern equipment including a state-of-the-art atomic absorption spectrometer. We have started the installation of a full on-site laboratory and the automation of key functions, such as the use of reagents in the flotation process."
The month of May was a busy month for the company. Cyprium announced two agreements regarding supply of mineralized material, officially started the flotation process of the first 1,000 tons of stockpiles from the historic Potosi Silver mine located just 42 kilometers from the Aldama plant and just recently tested the first concentrates produced from the Potosi stockpiles.
About Cyprium Mining Corporation
Cyprium Mining looks for projects located in Northern Mexico that have a potential for profitable production in the short-term and a large exploration potential. Cyprium is committed to maximizing the potential of projects by funding exploration programs mainly through cash flows generated by production instead of funding such programs strictly through equity offering thus limiting shareholder dilution. Cyprium Mining prioritizes projects which are easily accessible and close to large urban centers.
Cyprium also has the exclusive use of a 100 metric tons per day flotation plant located twenty kilometers outside the City of Chihuahua in Northern Mexico (the "Aldama Plant"). Cyprium Mining has the exclusive use of the Aldama Plant under a five year agreement with its owner during which Cyprium will use the Aldama Plant on a variable cost basis. Cyprium will purchase mill feed for its own account and will be responsible for the supervision of all metallurgic processes, including quantitative chemical analysis, assaying of samples, determining feed grades and the sale of concentrates (see October 1st, 2014 news release).
Cyprium also owns 51% of Coyame Copper SA de CV ("Coyame Copper"), a Chihuahua, Mexico based mining exploration company and has an option to increase its stake in Coyame Copper to 70% for a consideration of US $1.2 million payable over a period of eighteen months following the exercise of the option. Coyame Copper's Las Cristinas Project consist of four adjacent exploration concessions (Las Cristinas, La Parrita, La Verde and La Lagrimosa) covering 684 hectares.
For further information, please contact:
Alain Lambert, Chairman and C.E.O.
[email protected]
Phone: (514) 219-7988
Ron Keenan, C.O.O.
[email protected]
Phone (514)915-3836
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains "forward-looking information" (within the meaning of applicable Canadian securities laws) and "forward -looking statements" (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995). Such statements or information are identified with words such as "anticipate", "believe", "expect", "plan", "intend", "potential", "estimate", "propose", "project", "outlook", "foresee" or similar words suggesting future outcomes or statements regarding an outlook. Such statements include, among others, those concerning the Company's anticipated plans for developments of the Company and its mining projects".
Such forward-looking information or statements are based on a number of risks, uncertainties and assumptions which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect. Assumptions have been made regarding, among other things, management's expectations regarding future growth, plans for and completion of projects by Company's third party relationships, availability of capital, and the necessity to incur capital and other expenditures. Actual results could differ materially due to a number of factors, including, without limitation, operational risks in the completion of Company's anticipated projects, delays or changes in plans with respect to the development of Company's anticipated projects by Company's third party relationships, risks affecting the ability to develop projects, risks inherent in operating in foreign jurisdictions, the ability to attract key personnel, and the inability to raise additional capital. No assurances can be given that the efforts by the Company will be successful. Additional assumptions and risks are set out in detail in the Company's MD&A, available on SEDAR at www.sedar.com.
Although the Company believes that the expectations reflected in the forward-looking information or statements are reasonable, prospective investors in the Company's securities should not place undue reliance on forward-looking statements because the Company can provide no assurance that such expectations will prove to be correct. Forward-looking information and statements contained in this news release are as of the date of this news release and the Company assumes no obligation to update or revise this forward-looking information and statements except as required by law. Investors should note that the Las Cristinas property has no established mineral resources or mineral reserves as defined by NI 43-101. Although Cyprium Mining may make production decisions based on historical production records, results of sampling and drilling, a feasibility study of its projects has not been completed and there is no certainty that the proposed operations will be economically or technically viable.
Original Article: http://www.cypriummining.com/en/investors/news-releases/cyprium-mining-announces-plans-to-double-the-capacity-of-aldama-plant-in-mexico
