Xtierra Engages Runge Pincock Minarco to Oversee Completion of Bilbao Study
TORONTO, ONTARIO -- (Marketwire) -- 02/12/13 -- Xtierra Inc. (TSX VENTURE: XAG) ("Xtierra" or the "Company"), is pleased to announce that it has engaged Runge Pincock Minarco ("RPM Global"), the world's largest independent group of mining technical experts to take responsibility for the completion of the feasibility study work on its Bilbao project, located in the State of Zacatecas, Mexico and to act as Qualified Person in accordance with National Instrument 43-101.
RMP Global, under the leadership of Don Arsenault, P.Eng. (project sponsor) and Kevin Tanas, P. Eng. (project manager), will coordinate and supervise the work of various third party independent consultants who will continue to provide specific input into their respective aspects of the study, including DRA Americas, the former lead consultants who will now focus on the metallurgical and process plant design issues along with the related infrastructure and will co-author the study. Golder Associates will continue with the tailings disposal design, geotechnical parameters for the underground mine design and environmental issues.
RPM Global, having reviewed the extensive work done to date and the large amount of information generated have recommended the completion of a pre-feasibility study as an interim step. This will, importantly, provide an economic analysis of the project on a timely basis while the final component pieces for a definitive feasibility study are completed.
Comment
Commenting on the appointment of RPM Global, Terence McKillen, Xtierra's President & CEO said, "We believe that the depth and range of expertise that RPM Global brings to the table and particularly their experience with Mexican development projects, will be of great assistance in completing the Bilbao feasibility study."
The PFS will be upgradable to definitive feasibility study level relatively quickly with some further engineering details to the paste plant and tailings management infrastructure, confirming water resources through drilling of 4 test wells and conducting pump tests, confirming the cost of purchasing water rights, detailed EIS/EIA, and refining the operating and capital costs to +/- 15% and any further recommendations evolving from the PFS. The process plant design, including the related infrastructure, geotechnical 3D Modelling analysis for underground design, majority of the underground design, surface service buildings, power infrastructure, and revised NI 43-101 resources will be at or near the FS level.
About Runge Pincock Minarco (RMP Global)
Runge Pincock Minarco (www.rpmglobal.com) is the world's largest independent group of mining technical experts, with history stretching back to 1968. The firm was formally introduced to the market in December 2012 as three of mining's most respected names - Runge, Pincock Allen & Holt and Minarco-MineConsult - united.
This union sees Runge, the leader in mining software technology solutions; Pincock Allen & Holt, the leader in mining advisory in the Americas; and Minarco-MineConsult, Asia-Pacific's leading independent advisor in capital markets unifying as a single organisation. Together they offer all of the solutions across the advisory, software technology and professional development space covering the life of a mine, spanning all commodities and mining methods.
The RPM Global team has local knowledge gained through work in over 118 countries and RPM's approach to the business of mining is strongly grounded in economic principles.
About Xtierra Inc.
Xtierra Inc. is a Toronto based exploration and development company listed on the TSX Venture Exchange under the symbol "XAG". There are 103,272,142 shares issued and outstanding. The Company is completing a feasibility study on its Bilbao silver-zinc-lead-copper project in Zacatecas, Mexico. Xtierra's objective is to become a mid-tier producer of precious and base metals through the development of its Bilbao project as well as through exploration, organic growth and M & A opportunities.
For further information visit www.xtierra.ca.
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 the accuracy of this release.
Contacts:
Xtierra Inc.
Terence McKillen
President & Chief Executive
+1 (416) 362-8243
Xtierra Inc.
Tim Gallagher
Director
+1 (416) 925-0090
Xtierra Inc.
Alejandro Alaniz
Director Finance & Administration (Mexico)
+52 (492) 925-0804
www.xtierra.ca
