Petaquilla Minerals Ltd.: Molejon Gold Mine Ball Mill Addition
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 06/07/12 -- Petaquilla Minerals Ltd. (TSX: PTQ)(OTCBB: PTQMF)(FRANKFURT: P7Z) ("Petaquilla" or the "Company") is pleased to announce that its fourth ball mill has arrived at its 100%-owned Molejon gold mine in Panama. The ball mill is presently being assembled for installation as part of the Company's gold treatment plant expansion.
Installation and commissioning of the ball mill is expected to be complete by October 2012. The fourth ball mill is anticipated to enhance plant throughput at Molejon by 1,100 tonnes per day and increase production capacity by approximately 30%.
The projected start-up of the ball mill is being incorporated into the Company's fiscal year 2013 (June 1, 2012 - May 31, 2013) production forecast, which will be provided during the Company's next shareholder webcast. Details of an upcoming shareholder webcast will be announced later this month.
About Petaquilla Minerals Ltd. Petaquilla is a growing, diversified gold producer committed to maximizing shareholder value through a strategy of efficient production, targeted exploration and select acquisitions. The Company operates a surface gold processing plant at its Molejon Gold Project, located in the south central area of its 100% owned 842 square kilometer concession lands in Panama - a region known historically for gold content. In addition, the Company has acquired 100% of the Lomero-Poyatos project located in the northeast part of the Spanish/Portuguese (Iberian) Pyrite Belt and several other exploration licenses in Iberia.
Disclaimer. This press release includes forward-looking statements. All statements, other than statements of historical fact, contained in this press release constitute forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond Petaquilla's control that would cause events to be materially different from future events expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions. Any forward-looking statements speak only as at the date of this document. As a result of these factors, the events described in the forward-looking statements in this press release may not occur either partially or at all.
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On behalf of the Board of Directors of
PETAQUILLA MINERALS LTD.
Lazaro Rodriguez, Chief Operating Officer
No stock exchange has approved or disapproved the information contained herein.
Contacts:
Petaquilla Minerals Ltd.
Lazaro Rodriguez
Chief Operating Officer
(604) 694-0021 or Toll free: 1-877-694-0021
(604) 694-0063 (FAX)
www.petaquilla.com
