Huldra Silver Is Pleased to Provide an Update on Mill Commissioning and Mine Status
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/12/12 -- Huldra Silver Inc. (TSX VENTURE: HDA) ("Huldra" or the "Company") is pleased to provide an update on the commissioning of its 200 tonne per day silver, lead and zinc crushing, grinding and flotation mill in Merritt, BC. The Company also wishes to update the current progress at the Treasure Mountain Mine, located 70 kilometers south of Merritt, BC.
Under the supervision of a metallurgical engineering consultant, the Company has been making minor modifications to the processing plant. This work involved changes to the mill from fine ore bin right through to the filtration area. The mill was shut down temporarily to make these modifications, which have been completed in a timely manner.
With the current adjustments to the processing complete, the decision has been made to begin processing recently mined mill feed instead of the historical partially oxidized stockpile from the Treasure Mountain Mine. Huldra has hired additional managers, consultants and employees during the past two weeks to begin operating the mill on a 24 hour a day, seven days a week schedule immediately upon approval of the Ministry of Energy and Mines. Further maintenance and upgrades are expected to occur during regular operations.
The Company considers the mill commissioning to be substantially complete. As highlighted during recent facility inspections, as required under the Mines Act of British Columbia for a fully operational mill, the Company accelerated and completed the planned replacement of temporary ladders, lights and fans with permanent fixtures.
The Treasure Mountain Mine has been operating throughout this period with stockpiles of mill feed increasing on a daily basis from the underground mining operations. The frequency of transportation of mill feed from the mine site to the mill site has been increased in order to meet anticipated increased mill throughput. Further underground exploration plans are being developed and will be released as soon as they are complete.
Huldra currently employs approximately 75 full time staff in the Merritt, BC area, along with additional contractors and consultants. The Company expects that the level of employment will continue to increase as further development occurs at both the Merritt mill facility and the Treasure Mountain Mine.
About Huldra
Huldra is currently mining at its Treasure Mountain Project, located three hours east of Vancouver, BC, utilizing an offsite mill being commissioned for processing mill feed at the Company's property outside of Merritt, BC. The Company is also actively assessing other opportunities for acquisition and development.
On behalf of the Board of Directors of
HULDRA SILVER INC.
Ryan Sharp, MBA, President, CEO & Director
Disclaimer for Forward-Looking Information
This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events related to the Company's commissioning of its mill, the timing of progress to a seven day operating schedule at the mill and the expected timing for the commencement of processing of mill feed. Such forward-looking information can include statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. These risks and uncertainties include that factors may arise which delay the Company's expected timing with respect to operation of the mill; circumstances may occur that may interfere with the Company's ability to begin processing mill feed in a timely manner; risks related to a decrease in mineral prices or to the mineral resource industry generally; and other factors beyond the Company's control. These risks and uncertainties could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information. The Company can offer no assurance that its plans will be completed in the time expected or at all. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. Except as required by law, the Company assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
Contacts:
Huldra Silver Inc.
Ryan Sharp, MBA
President, CEO & Director
(604) 647-0142
ryan@huldrasilver.com or IR@huldrasilver.com
www.huldrasilver.com
