Rio Alto Produces 36,355 Ounces of Gold in Q1 2013
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/08/13 -- Rio Alto Mining Limited ("Rio Alto") (TSX: RIO)(LMA: RIO)(NYSE: RIOM)(DBFrankfurt: MS2) is pleased to announce that its La Arena Gold Mine poured 36,355 ounces of gold during the three months ended March 31, 2013.
The La Arena Gold Mine's production for the three-month period was:
Actual Mine Plan Difference
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Tonnes Au g/t Tonnes Au g/t Tonnes Au g/t
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Ore Mined 2,398,765 0.51 2,176,000 0.50 222,765 .01
Ore from (to)
Stockpile (114,580) 0.60 (114,580) .60
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Ore placed on pad 2,284,185 0.51 2,176,000 0.50 108,185 .01
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Ounces placed on
pad 37,385 34,980 2,405
Ounces poured 36,355 33,948 2,407
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Waste mined 5,995,026 N/A 6,125,000 N/A (129,974) N/A
Waste to Ore Ratio 2.50 N/A 2.81 N/A (0.32) N/A
Production Ounce
Variances Variances
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Ore placed on pad difference 108,185 1,739
Ore grade placed on pad difference 0.01 665
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Ounce placed on pad variance 2,405
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Ore tonnes placed on pad were higher than budgeted resulting in a positive variance of 1,739 ozs. Grade placed on pad was also higher than budgeted, resulting in a positive variance of 665 ozs, for a total positive variance of 2,405 ozs of gold.
Alex Black, President and CEO commented, "Management is pleased that for Q1 total ore and waste mined exceeded planned estimates by 92,791 tonnes, that actual ore grade was marginally better than plan and that the mine plan overestimated waste material by more than 200,000 tonnes. These factors resulted in both more gold placed on the pad and more gold poured than budgeted."
Forward-Looking Statements
This news release contains certain forward-looking information including statements concerning expected gold production. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in Rio Alto's disclosure documents on the SEDAR website at www.sedar.com. Rio Alto does not undertake to update any forward-looking information except in accordance with applicable laws.
To learn more about Rio Alto Mining Limited, please visit: www.rioaltomining.com or Rio Alto's SEDAR profile at www.sedar.com.
ON BEHALF OF THE BOARD OF RIO ALTO MINING LIMITED
Alex Black, President & CEO
Contacts:
Rio Alto Mining Limited
Alex Black
President & CEO
+511 625 9900
alexb@rioaltomining.com
Rio Alto Mining Limited
Alejandra Gomez
Investor Relations
604.628.1401
866.393.4493 (FAX)
alejandrag@rioaltomining.com
www.rioaltomining.com
