TORONTO, ONTARIO–(Marketwired
– March 13, 2014) –
Mining Corp.
or the “Company”)
successfully produced the annual threshold of 3.5 million ounces of silver and
will now begin selling 50% of the silver produced at
Dimas
The Company estimates that it will sell between 1,250,000 and 1,500,000 ounces
of silver at spot realized prices by August 5, 2014.
The Company assumed the
silver purchase agreement when it acquired the
Dimas
Primero to participate in the silver produced above the annual threshold
amount. The silver purchase agreement annual threshold increases to 6.0 million
ounces on August 5, 2014 and remains there for the remainder of
the mine life. For further details on the Company’s Silver Purchase Agreement,
please refer to http://www.primeromining.com/Operations/San-Dimas-Mine/Silver-Purchase-Agreement/default.aspx.
About Primero
Mining Corp.
of the
gold-silver mine and the Cerro del Gallo gold-silver-copper development project
in
of the Black Fox mine and Grey Fox exploration property in
Ontario
average cash cost gold production with a substantial resource base in
politically stable jurisdictions. The Company is focused on becoming a leading
intermediate gold producer by building a portfolio of high quality, low cost
precious metals assets in the
Primero’s website is www.primeromining.com.
CAUTIONARY STATEMENT ON
FORWARD-LOOKING INFORMATION
This news release contains
“forward-looking statements”, within the meaning of the United States
Private Securities Litigation Reform Act of 1995 and applicable Canadian
securities legislation, concerning the business and operations of
Mining Corp.
“Primero” or the “Company”). All statements, other than
statements of historical fact, are forward-looking statements. Generally,
forward-looking statements can be identified by the use of forward-looking
terminology such as “will”, “expects”, “is focused on
becoming”, “to become”, “estimates” or variations of
such words and phrases or statements that certain actions, events or results.
The assumptions made by the
Company in preparing the forward-looking information contained in this news
release, which may prove to be incorrect, include, but are not limited to: the
expectations and beliefs of management; the specific assumptions set forth
above in this news release; that the Company will be able to realize the
anticipated silver production, that the Company will sell certain amounts of
silver at spot prices, and that the Company will be able to build a portfolio
of high quality, low cost precious metals assets in the
Forward-looking statements
are subject to known and unknown risks, uncertainties and other important
factors that may cause the actual results, performance or achievements of
Primero to be materially different from those expressed or implied by such
forward-looking statements, including: that the Company may not realize
anticipated production; that costs may not be below average; the Company may
not be able to become an intermediate gold producer by building a portfolio of
high quality, low cost precious metals assets in the
Certain of these factors are discussed in greater detail in Primero’s
registration statement on Form 40-F on file with the U.S. Securities and
Exchange Commission, and its most recent Annual Information Form on file
with the Canadian provincial securities regulatory authorities and available at
www.sedar.com.
Should one or more of these
risks and uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those described in
forward-looking statements. In addition, although Primero has attempted to
identify important factors that could cause actual actions, events or results
to differ materially from those described in forward-looking statements, there
may be other factors that cause actions, events or results not to be as
anticipated, estimated or intended. There can be no assurance that such statements
will prove to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly, readers
should not place undue reliance on forward-looking statements. Forward-looking
statements are made as of the date hereof and accordingly are subject to change
after such date. Forward-looking statements are provided for the purpose of
providing information about management’s current expectations and plans and
allowing investors and others to get a better understanding of our operating
environment. Primero does not undertake to update any forward-looking
statements that are included in this document, except in accordance with
applicable securities laws.
Contact Information:
VP, Investor Relations
(416) 814 3168
[email protected]
www.primeromining.com
