Welcome!

Apache Authors: William Schmarzo, Christopher Harrold, Elizabeth White, Talend Inc., Adrian Bridgwater

News Feed Item

Commonwealth Silver and Gold Completes Positive Preliminary Economic Assessment for the Commonwealth Project, Cochise County, Arizona

TORONTO, ONTARIO -- (Marketwired) -- 02/13/14 -- Commonwealth Silver and Gold Mining Inc. ("Commonwealth Silver and Gold" or the "Company") is pleased to provide the results that will be reported in its Preliminary Economic Assessment ("PEA") for the 98% controlled Commonwealth gold and silver project in Cochise County, Arizona, approximately 120 km (75 miles) southeast of Tucson. The PEA was completed in accordance with National Instrument 43-101 ("NI 43-101") by Hard Rock Consulting, LLC ("HRC") of Lakewood, Colorado. All dollar amounts are in United States dollars unless otherwise stated.

All NPV amounts, IRR and payback period are based on the Company's 98% share of Project economics. All mining statistics, production, capital and closure amounts are to 100%. Highlights from the base case study at $1,350 per ounce gold, $22.50 per ounce silver and based solely on estimated Measured and Indicated mineral resources include:


--  Pre-tax Net Present Value ("NPV") at a 5% discount rate of $141.0
    million and a pre-tax Internal Rate of Return ("IRR") of 74.9%; 
--  After-tax NPV at a 5% discount rate of $101.3 million and IRR of 58.2%; 
--  After-tax payback of 1.6 years; 
--  Pre-production capital cost ("CAPEX") of $27.2 million including a 20%
    contingency; 
--  Remaining advance royalty payment $4.1 million and start-up working
    capital of $13.5 million until positive cash flow from leaching is
    achieved; 
--  Sustaining capital of $20.6 million (100%) over life of mine ("LOM")
    including a 20% contingency and reclamation, net of salvage values of
    $8.4 million; 
--  An 8.7 year mine life, mining and processing 31.2 million tonnes of ore
    at 10,000 tpd, averaging 0.39 grams per tonne ("g/t") gold and 32.0 g/t
    silver; 
--  An overall strip ratio of 0.97:1; 
--  Average annual payable metal production of 35,800 ounces of gold and 1.3
    million ounces of silver for total LOM production of approximately
    312,000 ounces of gold and 10.9 million ounces of silver;  
--  Average annual gold equivalent ("AuEq") production of 57,000 ounces AuEq
    at 60:1 gold to silver ratio, peaking at approximately 69,000 ounces
    AuEq in year 7; 
--  Gold Institute Cost Standard, LOM total cash operating costs are
    estimated to be approximately $831 per gold equivalent ounce; 
--  The HRC PEA has been constrained to the mineral resource estimate
    contained within a pit located entirely on the Company's patented mining
    claims and does not take into account the potential for additional
    mineralization on the adjoining unpatented mining claims or the
    potential for mineralization at the nearby Blue Jeep and San Ignacio
    exploration targets, all of which have the potential to extend the
    current projected life of the overall project or augment the economics
    of future years. Currently, there are no additional estimated mineral
    resources on any of these areas that are in compliance with NI 43-101. 

Michael Farrant, President and CEO stated, "We are extremely pleased with this Preliminary Economic Assessment. It demonstrates that the Commonwealth Project is one of the best undeveloped precious metals projects in the world based on after-tax IRR and after-tax NPV relative to the capital required to put the Project into production. The Project sits on private land in a mining friendly jurisdiction surrounded by first rate infrastructure. Most importantly, given the size of the Project relative to the market capitalization of the Company, this is a Project that can get built and those are exactly the kinds of projects that are retaining a superior valuation in the changing global mining landscape. The Commonwealth Project is currently projected to become the largest operating gold mine in the state of Arizona. As a Company, we have continued to deliver against our originally stated plans and I am very pleased with the work performed by everyone that contributed to the completion of this PEA."

The sensitivity table below shows the pre-tax and after-tax NPV, IRR and payback period at different gold prices, with the corresponding silver price calculated at a 60:1 gold to silver ratio.


----------------------------------------------------------------------------
                                                                      After-
                                           Pre-             Pre-tax      tax
Au Price    Ag Price   Pre-tax After-tax    tax    After-   Payback  Payback
Per Ounce  Per Ounce  NPV ($M)  NPV ($M)    IRR   tax IRR   (Years)  (Years)
----------------------------------------------------------------------------
$1,050      $  17.50  $   34.2  $   22.3   24.7%     18.6%      2.6      5.2
----------------------------------------------------------------------------
$1,125      $  18.75  $   60.9  $   42.7   38.2%     29.6%      2.2      2.5
----------------------------------------------------------------------------
$1,200      $  20.00  $   87.7  $   62.4   50.9%     39.6%      1.8      2.1
----------------------------------------------------------------------------
$1,275      $  21.25  $  114.3  $   81.8   63.1%     49.1%      1.5      1.8
----------------------------------------------------------------------------
$1,350      $  22.50  $  141.0  $  101.3   74.9%     58.2%      1.3      1.6
----------------------------------------------------------------------------
$1,425      $  23.75  $  167.7  $  120.4   86.5%     67.0%      1.0      1.4
----------------------------------------------------------------------------
$1,500      $  25.00  $  194.4  $  138.7   97.9%     75.1%      1.0      1.3
----------------------------------------------------------------------------
$1,575      $  26.25  $  221.1  $  156.4  109.1%     82.4%      0.8      1.1
----------------------------------------------------------------------------
$1,650      $  27.50  $  247.7  $  174.1  120.3%     89.7%      0.7      1.0
----------------------------------------------------------------------------
                                                                         
                                                                         
Table 1: Mine Plan Highlights                                            
                                                                         
-------------------------------------------------------------------------
Summary of Results                                  Unit            Value
-------------------------------------------------------------------------
Mine Life                                          Years              8.7
-------------------------------------------------------------------------
Total ore to leach pads                         M tonnes             31.2
-------------------------------------------------------------------------
Total waste                                     M tonnes             30.3
-------------------------------------------------------------------------
Strip ratio                                          w:o           0.97:1
-------------------------------------------------------------------------
Total re-handled                                M tonnes              5.3
-------------------------------------------------------------------------
Total moved                                     M tonnes             66.8
-------------------------------------------------------------------------
Ore mining rate                                      tpd           10,000
-------------------------------------------------------------------------
Average grade to pad - Au                            g/t             0.39
-------------------------------------------------------------------------
Average grade to pad - Ag                            g/t             32.0
-------------------------------------------------------------------------
Cumulative recovery - Au                              %             79.5%
-------------------------------------------------------------------------
Cumulative recovery - Ag                              %             34.2%
-------------------------------------------------------------------------
LOM production - Au                               ounces          311,534
-------------------------------------------------------------------------
LOM production - Ag                               ounces       10,926,367
-------------------------------------------------------------------------
LOM production - AuEq (60:1)                      ounces          493,640
-------------------------------------------------------------------------
Average annual production - Au                    ounces           35,809
-------------------------------------------------------------------------
Average annual production - Ag                    ounces        1,255,904
-------------------------------------------------------------------------
Average annual production - AuEq (60:1)           ounces           56,740
-------------------------------------------------------------------------
-------------------------------------------------------------------------
                                                                            
                                                                            
Table 2: Economic Highlights                                                
                                                                            
----------------------------------------------------------------------------
Summary of Results                                Value ($ M)      $/oz AuEq
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
 LOM revenue - ($1,350/oz. Au, $22.50/oz. Ag)          $666.4         $1,350
----------------------------------------------------------------------------
 LOM operating costs:                                                       
----------------------------------------------------------------------------
  Mining (including 2.5% contingency)                   182.2            369
----------------------------------------------------------------------------
  Processing (including 2.5% contingency)               190.9            387
----------------------------------------------------------------------------
  Site G&A (including 2.5% contingency)                  19.9             40
----------------------------------------------------------------------------
  Property and other taxes                                5.3             10
----------------------------------------------------------------------------
  Royalties                                               8.2             17
----------------------------------------------------------------------------
  Transportation and refining                             3.8              8
----------------------------------------------------------------------------
Total LOM cash operating costs                          410.3            831
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
Capital and closure costs:                                                  
----------------------------------------------------------------------------
  Pre-production capital                                 23.0             46
----------------------------------------------------------------------------
  Pre-production contingency (20%)                        4.2              9
----------------------------------------------------------------------------
Total pre-production capital                             27.2             55
----------------------------------------------------------------------------
  Sustaining capital                                     17.2             35
----------------------------------------------------------------------------
  Sustaining capital contingency (20%)                    3.4              7
----------------------------------------------------------------------------
Total sustaining capital                                 20.6             42
----------------------------------------------------------------------------
Closure costs net of salvage values                       8.4             17
----------------------------------------------------------------------------
Total capital and closure costs (including                                  
 contingency)                                            56.2            114
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
Other cash outflows:                                                        
----------------------------------------------------------------------------
  Income taxes                                           53.5            108
----------------------------------------------------------------------------
  Other                                                   4.1              8
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
Total after-tax cash flow                              $142.3           $289
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
Unit costs                                               Unit          Value
----------------------------------------------------------------------------
  Cost per tonne mined - 61,426,774 tonnes            $/tonne          $2.97
----------------------------------------------------------------------------
  Cost per tonne processed - 31,153,575                                     
   tonnes                                             $/tonne          $6.13
----------------------------------------------------------------------------
  Cost per tonne site G&A - 31,153,575 tonnes         $/tonne          $0.64
----------------------------------------------------------------------------
----------------------------------------------------------------------------

Mineral Resource Statement for the Commonwealth Gold and Silver Project:

The Mineral Resource estimate, before designing an engineered pit, is based on a 3D geologic model constructed using geologic and assay data from approximately 23,085 meters of drilling in 208 drill holes (155 historic and 43 drilled by the Company) and 2,984 meters of channel sampling in 209 channel sample lines. The assay data was examined for the presence of high grade outlier data which could potentially adversely impact the grade estimation. Based on this analysis, all gold and silver assays were capped at 10.0 g/t and 1,000.0 g/t, respectively. The capped assay data were then composited into 4.0m down-hole lengths for use in grade estimation. Block grades were estimated using inverse distance weighting ("IDW") interpolation methods, specifically ID2.5. The Mineral Resource estimate stated above a 0.2 g/t gold equivalent ("AuEq") cut-off grade is stated below in Table 3.


                                                                            
Table 3: Mineral Resource Statement for the Commonwealth Gold-Silver        
Deposit, Cochise County, Arizona, Hard Rock Consulting, LLC, November 30,   
2013(i)                                                                     
----------------------------------------------------------------------------
                                                    Contained Metal (Ounces)
                                          ----------------------------------
                       Au       Ag    AuEq                                  
Cut-off     Tonnes   Grade   Grade   Grade                                  
(g/t)       ('000)   (g/t)   (g/t)   (g/t)        Au           Ag       AuEq
----------------------------------------------------------------------------
            Inverse Distance 2.5 Model In Pit Measured Resources            
----------------------------------------------------------------------------
0.4          4,069    0.57    48.6    1.38    74,800    6,357,700    180,800
----------------------------------------------------------------------------
0.3          4,504    0.53    45.0    1.28    77,200    6,516,900    185,700
----------------------------------------------------------------------------
0.2          5,007    0.49    41.3    1.18    79,000    6,648,500    189,800
----------------------------------------------------------------------------
            Inverse Distance 2.5 Model In Pit Indicated Resources           
----------------------------------------------------------------------------
0.4         21,934    0.45    36.8    1.06   314,500   25,950,900    746,100
----------------------------------------------------------------------------
0.3         26,643    0.40    32.2    0.93   339,200   27,582,000    799,200
----------------------------------------------------------------------------
0.2         30,623    0.36    29,1    0.85   354,400   28,650,600    832,000
----------------------------------------------------------------------------
                   In Pit Measured and Indicated Resources                  
----------------------------------------------------------------------------
0.4         26,003    0.47    38.6    1.11   389,300   32,308,600    926,900
----------------------------------------------------------------------------
0.3         31,147    0.42    34.1    0.98   416,400   34,098,900    984,900
----------------------------------------------------------------------------
0.2         35,630    0.38    30.8    0.89   433,400   35,299,100  1,021,800
----------------------------------------------------------------------------
                Inverse Distance 2.5 Model Inferred Resources               
----------------------------------------------------------------------------
0.4          7,380    0.29    17.2    0.58    67,900    4,075,100    136,700
----------------------------------------------------------------------------
0.3         12,974    0.25    13.8    0.48   102,800    5,762,000    199,600
----------------------------------------------------------------------------
0.2         18,733    0.21    11.6    0.41   127,600    6,998,200    245,400
----------------------------------------------------------------------------


(i)Notes:                                                                   
(1) Mineral Resources are not Mineral Reserves and do not have demonstrated 
economic viability. There is no certainty that all or any part of the       
Mineral Resources estimated will be converted into Mineral Reserves.        
(2) Measured and Indicated Mineral Resources captured within the pit shell  
meet the test of reasonable prospect for economic extraction and can be     
declared a Mineral Resource.                                                
(3) Inferred Mineral Resources are that part of the Mineral Resource for    
which the quantity and grade or quality are estimated on the basis of       
geological evidence and limited sampling and reasonably assumed, but not    
verified, geological and grade continuity.                                  
(4) All resources are stated above a 0.2 g/t gold equivalent ("AuEq") cut-  
off.                                                                        
(5) Pit optimization is based on assumed gold and silver prices of          
US$1,350/oz. and US$22.50/oz., respectively and mining, processing and G&A  
costs of US$7.25 per tonne. Metallurgical recoveries for gold and silver    
were assigned by lithologic unit.                                           
(6) Mineral resource tonnage and contained metal have been rounded to       
reflect the accuracy of the estimate, and numbers may not add due to        
rounding.                                                                   
(7) Gold Equivalent stated using a ratio of 60:1 and ounces calculated using
the following conversion rate: 1 troy ounce = 31.1035 grams. Metallurgical  
recoveries are not accounted for in the gold equivalent calculation.        

Mineral Resource Estimates Used for Economic Assessment in the PEA:

The estimated Mineral Resource contained within the PEA includes 28.3 million tonnes at a 0.3 g/t AuEq cut-off and an additional 2.8 million tonnes of lower grade ore at a 0.24 g/t AuEq cut-off and is presented in Table 4. This represents the estimated Mineral Resource contained within the preliminary engineered pit design which includes haul roads. The PEA is preliminary in nature and it is important to note that the Mineral Resources described herein are not mineral reserves and, as such, do not have demonstrated economic viability. There is no certainty that the preliminary economic assessment will be realized.


                                                                            
Table 4: Measured and Indicated Resources within Pit Design                 
----------------------------------------------------------------------------
                                                    Contained Metal (Ounces)
                                               -----------------------------
                                Au     Ag  AuEq                             
Pit      Resource     Tonnes Grade  Grade Grade                             
 Phase    Category    ('000) (g/t)  (g/t) (g/t)      Au          Ag     AuEq
----------------------------------------------------------------------------
Phase 1  Measured      3,253  0.46  43.07  1.18  48,034   4,504,874  123,115
----------------------------------------------------------------------------
Phase 1  Indicated    12,227  0.36  34.57  0.94 142,539  13,590,165  369,042
----------------------------------------------------------------------------
         Measured +                                                         
Phase 1   Indicated   15,480  0.38  36.36  0.99 190,573  18,095,039  492,157
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Phase 2  Measured      1,633  0.56  38.17  1.19  29.212   2,003,915   62,610
----------------------------------------------------------------------------
Phase 2  Indicated    14.040  0.38  26.37  0.82 172,644  11,902,972  371,027
----------------------------------------------------------------------------
         Measured +                                                         
Phase 2   Indicated   15,673  0.40  27.60  0.86 201,856  13,906,886  433,637
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Total                                                                       
 All                                                                        
 Phases  Measured      4,886  0.49  41.43  1.18  77,245   6,508,788  185,725
----------------------------------------------------------------------------
Total                                                                       
 All                                                                        
 Phases  Indicated    26,267  0.37  30.19  0.88 315,184  25,493,137  740,069
----------------------------------------------------------------------------
Total                                                                       
 All     Measured +                                                         
 Phases   Indicated   31,154  0.39  31.95  0.92 392,429  32,001,925  925,794
----------------------------------------------------------------------------
----------------------------------------------------------------------------
1) Mineral Resources are not Mineral Reserves and do not have demonstrated  
economic viability. There is no certainty that all or any part of the       
Mineral Resources estimated will be converted into Mineral Reserves.        
2) Prepared by Jeff Choquette, P.E., Mining Engineer, an independent        
Qualified Person within the meaning of NI 43-101, using a reporting cut-off 
grade of 0.24 g/t AuEq.                                                     
3) Gold Equivalent stated using a ratio of 60:1 and ounces calculated using 
the following conversion rate: 1 troy ounce = 31.1035 grams.  Metallurgical 
recoveries are not accounted for in the gold equivalent calculation.        

(i)Total Measured and Indicated ("M&I") resources are inclusive of the M&I resources limited to the optimized ultimate pit boundary and as such Table 4 summarizes resources contained within the pit design only.

Mining and Crushing

The mine plan developed for the PEA mines the Commonwealth deposit in two phases. The phase one pit containing 15.48 million ore tonnes is mined during years 1 to 4. During years 1 to 3, the average strip ratio is 0.66:1. During year 4, mining begins to transition into the phase two pit containing 15.67 million ore tonnes. The average strip ratio over years 4 to 6 is 1.66:1 while during years 7 to 9 the average strip ratio falls to 0.42:1.

Standard open pit mining methods are utilized involving typical drilling, blasting and material movement. The 31.2 million ore tonnes to be placed on the leach pads are comprised of five different rock types. Three of these rock types comprising 19.43 million ore tonnes (62%) are required to be crushed to 1/2 inch. Two of these rock types comprising 11.72 million ore tonnes (38%) are required to be crushed to 1/8 inch and agglomerated.


                                                                            
Table 5: Crush Size, Recovery and Ore Tonnage by Rock Type                  
-------------------------------------------------------------
                                  Recoveries (%)             
-------------------------------------------------------------
Rock Type          Crush Size       Au        Ag   Tonnes (M)
-------------------------------------------------------------
Rhyolite                 1/8"     78.0      30.0         7.34
-------------------------------------------------------------
Vein                     1/8"     79.0      49.0         4.38
-------------------------------------------------------------
Lower Andesite           1/2"     81.0      33.0         4.63
-------------------------------------------------------------
Upper Andesite           1/2"     78.0      35.0         6.11
-------------------------------------------------------------
Bisbee                   1/2"     80.0      23.0         8.69
-------------------------------------------------------------
Total                             79.5      34.2        31.15
-------------------------------------------------------------

The Company received a quote from a contractor to perform all of the drilling, blasting, material movement and crushing to mine plan specifications. This quote has been included in the PEA.

Processing

The Commonwealth Project will use a (flow rate) Merrill-Crowe gold and silver recovery plant using zinc precipitation to recover gold and silver from cyanide solution. The process plant will operate 24 hours per day and 365 days per year at a rate of 3,000 gallons per minute. The process plant will produce dore with approximately 97% of the precious metal content being silver and 3% being gold.

Infrastructure

The Commonwealth Project is accessible by paved highway. Currently a 14.4 KvA powerline services the property with 60 amp service. The PEA envisions upgrading the trunk powerline from the Apache Generating Station located 19km (11 miles) from the Project site at a cost of approximately $358,000. Water is planned to be sourced from regional groundwater sources.

Capital Costs

The initial capital requirement for the Project to 100% is estimated to be $27.2 million, sustaining capital of $20.6 million and net closure costs of $8.4 million as detailed in the table below. A contingency of $7.6 million is included in the $56.2 million total.


                                                                            
Table 6: Commonwealth Project Capital and Closure Costs                     
--------------------------------------------------------------
Capital and Closure Costs                         $ (millions)
--------------------------------------------------------------
Pre-production Capital Costs                                  
--------------------------------------------------------------
Conveying equipment                                        4.8
--------------------------------------------------------------
Merrill-Crowe plant and equipment                          2.5
--------------------------------------------------------------
Truck shop, assay lab and buildings                        4.5
--------------------------------------------------------------
Haul roads and access road                                 1.2
--------------------------------------------------------------
Leach pad and ponds                                        4.9
--------------------------------------------------------------
Off-site infrastructure                                    0.7
--------------------------------------------------------------
Owner's cost and indirects                                 3.1
--------------------------------------------------------------
Surface rights                                             1.3
--------------------------------------------------------------
Total pre-production initial capital costs                23.0
--------------------------------------------------------------
Contingency                                                4.2
--------------------------------------------------------------
Total pre-production capital costs                        27.2
--------------------------------------------------------------
Sustaining Capital Costs                                      
--------------------------------------------------------------
Leach pads                                                 8.9
--------------------------------------------------------------
Merrill-Crowe plant and equipment                          8.3
--------------------------------------------------------------
Contingency                                                3.4
--------------------------------------------------------------
Total sustaining capital                                  20.6
--------------------------------------------------------------
Reclamation and closure costs                             12.3
--------------------------------------------------------------
Salvage values - mine and other                          (2.6)
--------------------------------------------------------------
Salvage values - land                                    (1.3)
--------------------------------------------------------------
Closure costs net of salvage values                        8.4
--------------------------------------------------------------
Total capital and closure costs                           56.2
--------------------------------------------------------------

Financial Analysis and Sensitivities

Using a gold price of $1,350 per ounce and a silver price of $22.50 per ounce, the PEA yields a pre-tax NPV at 5% of $141.0 million and IRR of 74.9% with a payback period of 1.3 years. After-tax NPV at 5% amounts to $101.3 million, and IRR of 58.2% and a payback period of 1.6 years.


Table 7: Project NPV Sensitivity to Discount Rates                          
------------------------------------------------
Discount Rate      Pre-tax NPV     After-tax NPV
------------------------------------------------
0%                      $195.8            $142.3
------------------------------------------------
5%                      $141.0            $101.3
------------------------------------------------
8%                      $115.6             $82.0
------------------------------------------------
10%                     $101.3             $71.2
------------------------------------------------

Qualified Persons and Contributors

The Technical Report and Preliminary Economic Assessment for the Commonwealth Silver and Gold Project was prepared by Hard Rock Consulting, LLC of Lakewood, Colorado, with the following Qualified Persons, as defined by NI 43-101, each of whom is independent of the Company, contributing to their respective sections:

Qualified Persons

Zachary Black - QP-SME-RM, Geology, Resource Modeling

J. J. Brown - P.G., QP-SME-RM, Geology, Overall Report Content

Jeff Choquette - P.E., QP-MMSA, Mine Planning, Economic Modelling, Mine Management

Deepak Malhotra, Resource Development Inc - Ph.D., QP-MMSA, Metallurgy

Additional Contributors:

Don Beesley - B.Sc., Project Management, Scheduling, Estimating

Mark Shonnard - B.A. (Hons), CPA, Economic Modeling, Financial Analysis

Kenn Zerby - B.Sc., Mechanical Engineering, Graphics and Drafting

Each of the consultants has reviewed and approved this news release. In addition, the foregoing technical information has also been reviewed by Mr. Hall Stewart, Vice President, Exploration for Commonwealth Silver and Gold and a Qualified Person for the purpose of NI 43-101.

Technical Report

A copy of the full NI 43-101 Technical Report will be available on the Company's website at www.commonwealthsilver.ca within 45 days.

About Commonwealth Silver and Gold Mining Inc.

Commonwealth Silver and Gold is a private Canadian mineral exploration and development company focused on acquiring gold and silver properties in politically stable, mining friendly jurisdictions and advancing its flagship Commonwealth Project in Arizona towards production. The Company comprises an experienced management group with a strong background in acquisition, exploration, development and financing of precious metals mining projects.

For further information on Commonwealth Silver and Gold please visit www.commonwealthsilver.ca.

CAUTIONARY NOTE TO U.S. INVESTORS CONCERNING ESTIMATES OF MEASURED, INDICATED AND INFERRED MINERAL RESOURCES:

Information concerning the properties of Commonwealth Silver and Gold has been prepared in accordance with Canadian standards under applicable Canadian securities laws and may not be comparable to similar information for United States companies. This news release uses the terms "Mineral Resource", "Measured Mineral Resource", "Indicated Mineral Resource" and "Inferred Mineral Resource" which are Canadian mining terms as defined in and required to be disclosed by NI 43-101 under guidelines set out in the CIM standard "CIM Definition Standards - For Mineral Resources and Reserves". While the terms "Mineral Resource", "Measured Mineral Resource", "Indicated Mineral Resource" and "Inferred Mineral Resource" are recognized and required by Canadian regulations, they are not defined terms under standards of the United States Securities and Exchange Commission (the "SEC"). The estimation of measured and indicated Mineral Resources involves greater uncertainty as to their existence and economic feasibility than the estimation of proven and probable reserves. U.S. investors are cautioned not to assume that measured and indicated Mineral Resources will be converted into reserves. The estimation of inferred Mineral Resources involves far greater uncertainty as to their existence and economic viability than the other categories of estimated Mineral Resources. It cannot be assumed that all or any part of an "Inferred Mineral Resource" will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or other economic studies. Readers are also cautioned not to assume that all or any part of Measured or Indicated Resources will ever be converted to Mineral Reserves. Additionally, readers are cautioned not to assume that all or any part of an "Inferred Mineral Resource" exists, or is economically mineable.

Disclosure of "contained ounces" in an estimated Mineral Resource is permitted disclosure under Canadian regulations, however the SEC normally only permits issuers to report mineralization that does not constitute "reserves" by SEC standards as in place tonnage and grade without reference to unit measures. Accordingly, the information contained in this news release may not be comparable to similar information made public by U.S. companies that are not subject to NI 43-101.

CAUTIONARY NOTE REGARDING FORWARD LOOKING INFORMATION

This news release contains certain "forward-looking information" under Canadian securities laws. All statements that address future plans, activities, events or developments that the Company believes, expects or anticipates will or may occur are forward-looking information. This can include, but is not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes etc. Forward-looking information addresses future events and conditions and therefore involves inherent risks and uncertainties. There can be no assurance that outcomes anticipated in the forward-looking information will occur and actual results may differ materially from those currently anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to update publicly or otherwise any forward-looking information, except as may be required by law.

No stock exchange, regulation securities provider, securities commission or other regulatory authority has approved or disapproved the information contained in this news release.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
The IoTs will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, will demonstrate how to move beyond today's coding paradigm and share the must-have mindsets for removing complexity from the development proc...
Customer experience has become a competitive differentiator for companies, and it’s imperative that brands seamlessly connect the customer journey across all platforms. With the continued explosion of IoT, join us for a look at how to build a winning digital foundation in the connected era – today and in the future. In his session at @ThingsExpo, Chris Nguyen, Group Product Marketing Manager at Adobe, will discuss how to successfully leverage mobile, rapidly deploy content, capture real-time d...
SYS-CON Events announced today that ContentMX, the marketing technology and services company with a singular mission to increase engagement and drive more conversations for enterprise, channel and SMB technology marketers, has been named “Sponsor & Exhibitor Lounge Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York City, New York. “CloudExpo is a great opportunity to start a conversation with new prospects, but what happens after the...
What a difference a year makes. Organizations aren’t just talking about IoT possibilities, it is now baked into their core business strategy. With IoT, billions of devices generating data from different companies on different networks around the globe need to interact. From efficiency to better customer insights to completely new business models, IoT will turn traditional business models upside down. In the new customer-centric age, the key to success is delivering critical services and apps wit...
Join us at Cloud Expo | @ThingsExpo 2016 – June 7-9 at the Javits Center in New York City and November 1-3 at the Santa Clara Convention Center in Santa Clara, CA – and deliver your unique message in a way that is striking and unforgettable by taking advantage of SYS-CON's unmatched high-impact, result-driven event / media packages.
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, will provide an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life ...
SYS-CON Events announced today that BMC Software has been named "Siver Sponsor" of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. BMC is a global leader in innovative software solutions that help businesses transform into digital enterprises for the ultimate competitive advantage. BMC Digital Enterprise Management is a set of innovative IT solutions designed to make digital business fast, seamless, and optimized from mainframe to mo...
SYS-CON Events announced today that MobiDev will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. MobiDev is a software company that develops and delivers turn-key mobile apps, websites, web services, and complex software systems for startups and enterprises. Since 2009 it has grown from a small group of passionate engineers and business managers to a full-scale mobile software company with over 200 develope...
SoftLayer operates a global cloud infrastructure platform built for Internet scale. With a global footprint of data centers and network points of presence, SoftLayer provides infrastructure as a service to leading-edge customers ranging from Web startups to global enterprises. SoftLayer's modular architecture, full-featured API, and sophisticated automation provide unparalleled performance and control. Its flexible unified platform seamlessly spans physical and virtual devices linked via a world...
SYS-CON Events announced today that Alert Logic, Inc., the leading provider of Security-as-a-Service solutions for the cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Alert Logic, Inc., provides Security-as-a-Service for on-premises, cloud, and hybrid infrastructures, delivering deep security insight and continuous protection for customers at a lower cost than traditional security solutions. Ful...
Companies can harness IoT and predictive analytics to sustain business continuity; predict and manage site performance during emergencies; minimize expensive reactive maintenance; and forecast equipment and maintenance budgets and expenditures. Providing cost-effective, uninterrupted service is challenging, particularly for organizations with geographically dispersed operations.
As cloud and storage projections continue to rise, the number of organizations moving to the cloud is escalating and it is clear cloud storage is here to stay. However, is it secure? Data is the lifeblood for government entities, countries, cloud service providers and enterprises alike and losing or exposing that data can have disastrous results. There are new concepts for data storage on the horizon that will deliver secure solutions for storing and moving sensitive data around the world. ...
SYS-CON Events announced today TechTarget has been named “Media Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. TechTarget is the Web’s leading destination for serious technology buyers researching and making enterprise technology decisions. Its extensive global networ...
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management...
SYS-CON Events announced today that MangoApps will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. MangoApps provides modern company intranets and team collaboration software, allowing workers to stay connected and productive from anywhere in the world and from any device. For more information, please visit https://www.mangoapps.com/.
The essence of data analysis involves setting up data pipelines that consist of several operations that are chained together – starting from data collection, data quality checks, data integration, data analysis and data visualization (including the setting up of interaction paths in that visualization). In our opinion, the challenges stem from the technology diversity at each stage of the data pipeline as well as the lack of process around the analysis.
Designing IoT applications is complex, but deploying them in a scalable fashion is even more complex. A scalable, API first IaaS cloud is a good start, but in order to understand the various components specific to deploying IoT applications, one needs to understand the architecture of these applications and figure out how to scale these components independently. In his session at @ThingsExpo, Nara Rajagopalan is CEO of Accelerite, will discuss the fundamental architecture of IoT applications, ...
SYS-CON Events announced today that Tintri Inc., a leading producer of VM-aware storage (VAS) for virtualization and cloud environments, will exhibit at the 18th International CloudExpo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, New York, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
In his session at 18th Cloud Expo, Bruce Swann, Senior Product Marketing Manager at Adobe, will discuss how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects). Bruce Swann has more than 15 years of experience working with digital marketing disciplines like web analytics, social med...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, wh...