Huldra Silver Ships 127 Tonnes of Lead/Silver Concentrates and 90 Tonnes of Zinc Concentrates in January and Achieves Significant Improvements to Mill Operations
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/05/13 -- Huldra Silver Inc. (TSX VENTURE: HDA) (the "Company") is pleased to announce that during January, 2013, an estimated total of 127 dry metric tonnes of lead/silver concentrates and an estimated 90 dry metric tonnes of zinc concentrates have been shipped to a smelter under the terms of previously announced concentrate purchase agreements. The Company has received provisional payments representing approximately 85% of the total receipts for the first 195 dry metric tonnes of lead/silver concentrates and 147.3 dry metric tonnes of zinc concentrates shipped to date. Concentrates continue to be shipped on a regular basis. The Company will receive final receipts for November, 2012 and the first half of December, 2012 during February, 2013 based upon current metal prices. Once independent assays have been confirmed, the Company will begin publishing trailing revenues.
The Company continues to make adjustments to the mill equipment and processes to maximize metallurgical recovery and throughput. Since the last update a number of permanent adjustments to the operation have been implemented. The Company has also made significant progress to deal with moisture in the mill feed. The gravel screening plant has been moved from the aggregate pit and is now in place sorting up to 150 tonnes per hour of raw mill feed into finer and coarser material. The finer material is being directly fed into the mill via a secondary hopper and the coarser material is being put through the regular crushing circuit. With two sources of feed to the mill, the Company expects output will be significantly increased over the coming weeks. There are still minor modifications and adjustments being made to the equipment and processing that require brief stoppages. However, the total utilization of the mill continues to increase. The Company expects to announce commercial production in the first quarter of 2013.
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 related to the Company's expectation that (i) the mill's output will be significantly increased over the coming weeks, and (ii) the Company will announce commercial production in the first quarter of 2013. Such forward-looking information involves a number of risks and uncertainties and is not a guarantee of future performance of the Company. Risks and uncertainties that could prevent the Company from achieving its expected significant increase in output and announcing commercial production in the first quarter of 2013 include the risk that unforeseen factors may arise which delay the Company's ability to achieve such increased capacity at its mill and to accordingly announce commercial production; risks related to the supply and quality of the feed for the mill; risks related to a decrease in the demand for lead, silver or zinc concentrates; risks related to a decrease in mineral prices or to the mineral resource industry generally; general risks related to the exploration of mineral properties; 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. Additional information about assumptions, risks and uncertainties are set out in the section entitled "Risk Factors" in the Company's MD&A filed on SEDAR at www.sedar.com.
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 release.
Contacts:
Huldra Silver Inc.
Ryan Sharp, MBA
President, CEO & Director
(604) 647-0143 (FAX)
ryan@huldrasilver.com
Huldra Silver Inc.
IR@huldrasilver.com
www.huldrasilver.com
