Wednesday, May 29, 2013

TSX Graphene Stock Alert: Lomiko (TSX-V: LMR), Graphene Labs and Stony Brook University Collaborate on Graphene Super-Capacitor and Next-Generation Battery Applications

VANCOUVER, BRITISH COLUMBIA and NEW YORK, NEW YORK - May 29, 2013 (Investorideas.com mining stocks newswire) LOMIKO METALS INC. (TSX VENTURE:LMR)(LMRMF)(DH8B.F) (Europe: ISIN: CA54163Q1028, WKN: A0Q9W7) (the "Company") announces that the SUNY Research Foundation at Stony Brook University (RF), Graphene Laboratories, Inc. (Graphene Labs) and Lomiko Metals, Inc. have agreed to investigate novel, energy-focused applications for graphene.

"This new agreement with Stony Brook University's researchers means Lomiko is participating in the development of the technology graphene makes possible," commented Paul Gill, CEO of Lomiko. "Using graphene to achieve very high energy densities in super capacitors and batteries is a transformative technology. Strategically, Lomiko needs to be participating in this vital research to achieve the goal of creating a vertically integrated graphite and graphene business."
Under its Strategic Alliance Agreement with Lomiko, Graphene Labs -- a leading graphene manufacturer -- will process graphite samples from Lomiko's Quatre Milles property into graphene. The Research Foundation, through Stony Brook University's Advanced Energy Research and Technology Center (AERTC) and the Center for Advanced Sensor Technology (Sensor CAT), will then examine the most efficient methods of using this graphene for energy storage applications. There is no certainty the proposed operation will be economically viable.
Graphene's remarkable properties, including its high conductivity, mechanical strength, and high specific surface area, make it an ideal electrode material for electrochemical devices used in clean energy applications. Graphene shows promise for super-capacitors and next-generation Li-ion batteries. Efficient energy storage is a cornerstone for a resilient and reliable energy transmission grid and graphene is a key element of the clean energy system.
For all parties involved, the goal of this collaboration is to map commercially viable routes for the fabrication of graphene-based energy storage devices. By participating in these projects, the partners will address the cost of graphene production, as well as how best to integrate the material into commercial energy storage devices.
The Lomiko and Graphene Labs Strategic Alliance
Lomiko and Graphene Labs have agreed to co-develop a vertically integrated supply chain that includes a secure supply of high-quality graphite, cost-effective and scalable processing, tight quality control and integration of graphene-based products in end-user products. The parties will capitalize on the secure supply of high quality graphite, provided by Lomiko, and the extensive customer database and expertise in graphene materials brought by Graphene Labs.
Lomiko has provided mineral samples from the Quatre Milles Project for natural high quality flake graphite for graphene conversion.
Under the Agreement, Graphene Labs will develop a feasible procedure for the purification of flake graphite for use in graphene production. They will also provide guidance on technologies tailored to the production of graphene and graphene-related materials.
The Agreement also calls for joint Research and Development and business, communications, and marketing strategy for end uses of the graphite and graphene products.
Lomiko also has the option to provide equity financing(s) to Graphene Labs on an exclusive basis for two years if it meets Graphene Labs funding requirement of raising at least $500,000 within eight months of the agreement, $1,000,000 within twelve (12) months and $2,000,000 within eighteen (18) months. If the requirements are not met, Lomiko loses exclusivity but maintains the right to participate in financings on a non-exclusive basis.
The Agreement is subject to approval by the TSX.
About Graphene Laboratories Inc.
Graphene Laboratories, Inc. primary focus is to apply fundamental science and technology to bring functional advanced materials and devices to market.
Graphene Laboratories Inc. operates the Graphene Supermarket® (www.graphene-supermarket.com), and is a leading supplier of advanced 2D materials to customers around the globe. In addition to the retail offering of advanced 2D materials, it offers analytical services, prototype development and consulting.
Located in Calverton NY, Graphene Labs benefits from the unique high tech community on Long Island. Efforts by Graphene Laboratories are supported by Brookhaven National Laboratory, Stony Brook Business Incubator, and the Clean Energy Business Incubator Program (CEBIP), hosted by the New York State Energy Research and Development Authority (NYSERDA).
For more information on Graphene Laboratories, Inc, visit www.graphenelabs.com or contact them at (516)-382-8649 or via email at info@graphenelabs.com.
About AERTC
Located in the Research and Development Park on the campus of Stony Brook University, the Advanced Energy Incubator is space that is home to companies within the Advanced Energy Center. The Advanced Energy Center (www.aertc.org), a New York Center of Excellence is a true partnership of academic institutions, research institutions, energy providers and companies. Its mission is innovative energy research, education and technology deployment with a focus on efficiency, conservation, renewable energy and nanotechnology applications for new and novel sources of energy.
About Sensor CAT
The New York State Center for Advanced Technology at Stony Brook University (http://www.usensors.com/SENSORCAT/), designated by the Empire State Development Corporation, Div. of Science Technology and Innovation (NYSTAR), provides intellectual, logistical, and material resources for the development of new product technologies - by facilitating R&D partnerships between New York companies with an in-state footprint and university researchers. The important outcomes are new jobs, new patents, training of students in company product matters, and improved competitiveness for New York State businesses.
About Lomiko Metals Inc.
Lomiko Metals Inc. is a Canadian based exploration-stage company. Its mineral properties include the Quatre Milles Graphite Property and the Vines Lake property which both have had recent major discoveries. On October 22 and November, 13 2012, Lomiko Metals Inc. announced 11 drill holes had intercepted high grade graphite at the 3,780 Ha Quatre Milles Property. On March 15, 2013 Lomiko reported 75.3% of graphite tested was >200 mesh and classified as graphite flake with 38.36% in the >80 mesh, large flake category. 85.3% of test results higher than the 94% carbon purity considered high carbon content, with the median test result being 98.35%.
The highlight of Lomiko's testing was nine (9) sieve samples which captured flakes of varying sizes which tested 100.00% carbon. Both fine and flake material may be amenable to graphene conversion by Lomiko Metals Inc. partner Graphene Laboratories.
The project is located 175 km north of the Port of Montreal and 26 km from a major highway on a well-maintained gravel road.
On Behalf of the Board
A. Paul Gill, Chief Executive Officer
Contact:
Lomiko Metals Inc.
A. Paul Gill
604-729-5312
info@lomiko.com
www.lomiko.com

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Mining Stock Alert: SilverCrest (TSX.V: SVL) (NYSE MKT: SVLC) Announces Updated Santa Elena Reserves and Resources

VANCOUVER, BRITISH COLUMBIA - May 29, 2013 (Investorideas.com Mining Stocks Newswire) SilverCrest Mines Inc. (TSX.V:SVL) ( NYSE MKT: SVLC) (CW5.F) ("SilverCrest" or the "Company") is pleased to announce updated Reserve and Resource estimations for its Santa Elena Mine in Sonora, Mexico. The updated Probable Reserves (underground, open pit and leach pad) are estimated at 8.2 million tonnes grading 74.9 gpt Ag and 1.24 gpt Au containing 19.7 million ounces of silver and 327,430 ounces of gold, representing a 103% increase in contained silver and 50% increase in contained gold over previous Probable Reserves stated below. Updated Indicated Resources (exclusive of Probable Reserves) are estimated at 2.1 million tonnes grading 114.9 gpt Ag and 1.69 gpt Au containing 7.9 million ounce of silver and 116,000 ounces of gold, representing a 127% increase in contained silver and 99% increase in contained gold over previous Indicated Resources stated below. Details of the updated Reserves and Resources are summarized in the following tables and will be included in the Santa Elena Expansion Pre-Feasibility Study (Technical Report) to be filed on SEDAR within 45 days of this release.
J. Scott Drever, President commented: "We are extremely pleased with the results of our updated Reserve and Resource estimates for the underground, open pit and heap leach pad definition and resource expansion drill program. The significant increase in Reserves has clearly defined processing feed for our planned 3,000 tonne per day processing facility (Milling & CCD leaching) for an additional 8 years. What is even more exciting is that we have yet to define the limits of the Main Mineralized Zone and have only begun to explore the newly discovered high grade El Cholugo and El Cholugo Dos zones. We look forward to a banner year in 2014 with the commissioning of the new processing facility in Q1 2014 and the expansion of our annual metals production to an estimated 3.5 to 4.0 million ounces of silver equivalent (55:1 Ag:Au)."
Investorideas.com Newswire Note: All numbers are rounded. Underground and Leach Pad Reserves and Resources are based on 3 year historic metal price trends of US$28/oz silver, US$1450/oz gold and metallurgical recoveries of 92% Au and 67.5% Ag with a metal ratio of Ag:Au at 70:1 used for grade cutoff determination. All Mineral Resources and Reserves conform to NI 43-101, 43-101CP, and CIM definitions for Resources and Reserves. Inferred Resources have been estimated from geological evidence and limited sampling and must be treated with a lower level of confidence than Indicated Resources.
1 Open Pit and Leach Pad Probable Reserves were classified by SilverCrest. Underground Reserves and Resources were classified by EBA, a Tetra Tech Company.
2 Underground Probable Reserve is based on a cutoff grade of 1.47 gpt AuEq with an average 10% dilution and 90% mine recovery. Average true thickness of the designed stopes is 13.4 metres.
3 Open Pit Reserve is based on a cutoff grade of 0.20 gpt AuEq in a constrained pit shell with applied capping of 8 gpt Au and 300 gpt Ag.
4 Leach Pad Reserve based on production and drill hole data for volumetrics and grade model using a cutoff grade of 0.5 gpt AuEq. No capping was applied.
5 Underground Resources are exclusive of Probable Reserves and based on 1 gpt AuEq grade shell, a cutoff grade of 1.4 gpt AuEq, and applied capping of 12 gpt Au and 600 gpt Ag.
Investorideas.com Newswire 1 based on $1,000/oz of gold and $18/oz of silver, cut-off grade of 0.38 gpt gold equivalent with applied metallurgical recoveries.
2 based on $1,000/oz of gold and $18/oz of silver, cut-off grade is 1.77 gpt gold equivalent with applied metallurgical recoveries.
Before production commenced, the Santa Elena open pit defined a mine life of approximately 6.5 years (including ramp up) having a Reserve of 5.1 million tonnes grading 1.72 gpt Au and 73.4 gpt Ag (refer to Technical Report dated April 1, 2011). In April 2011, the open pit Reserve was depleted by approximately 6 months of production and optimized with a remaining 4.79 million tonnes grading 1.81 gpt Au and 75.9 gpt Ag (refer to Technical Report dated April 1, 2011). By January 2012, the open pit was depleted from 2011 production and re-optimized with a resultant Reserve of 3.45 million tonnes grading 1.96 gpt Au and 87.3 gpt Ag showing lesser tonnes and higher grade. Re-optimization of the open pit between April 2011 and April 2013 has reclassified approximately 880,000 tonnes of open pit Reserve to underground Resources which was converted mostly (excluding stope pillars) to the new underground Reserves. The main purpose for re-optimization was to avoid a higher open pit strip ratio at higher cost in future years in the mine life but still be able to mine the displaced Reserves from underground.

SANTA ELENA UPDATED RESERVE AND RESOURCE DATABASES
Based on available data, the current dominant silver-gold mineralization at the Santa Elena Mine is hosted within the Main Mineralized Zone (MMZ) which is a low-sulfidation calcium-rich epithermal deposit that strikes nearly east-west for an estimated distance of 1.3 kilometres with an average true width of approximately 15 metres. The continuous mineralized zone has been drill-tested to a minimum depth of 500 metres from surface and open in most directions. The near-parallel El Cholugo and El Cholugo Dos zones are located approximately 20 to 50 metres below the footwall of the MMZ. These two new discoveries appear to be splays off the MMZ with similar silver-gold mineralization.
The updated underground Reserves and Resources have been independently estimated by EBA, a Tetra Tech Company, utilizing 2012 and 2013 drilling results along with previous independently-validated data (see SEDAR for previous NI 43-101 compliant Technical Reports). Drilling in 2012 and early 2013 was focused on conversion and expansion of underground Resources to Reserves with an average drill hole spacing of approximately 35 metres. Drilling data from 2012 and 2013 used for underground Resource estimate included 138 holes (45,011 metres) and 96 previous holes (14,865 metres). A total of 2,941 composite samples were used as the basis for the block model.
The updated open pit Reserves and Resources have been estimated by SilverCrest utilizing Company extensive production data (blastholes), exploration drilling data and computer modelling. All Indicated Resources in the currently operating open pit have been converted to Reserves as of April 30, 2013.
The Leach Pad Reserves (spent ore) have been estimated by the Company utilizing crusher composite samples, drill data from verification holes on the pad, bottle roll tests to process design specifications and SilverCrest production leach curves. In early May 2013, the Company completed 25 large diameter drill holes (355 metres) on the pad to obtain additional information for the purposes of validation of production data. All spent ore material on the leach pad will be reprocessed through the new processing facility once operational. Only the material currently on the pad and leached (300 day cycle completed or estimated full cycle) has been declared as Reserves. Approximately 750,000 tonnes of open pit material is planned to be placed on the pad during the remainder of 2013 and will undergo only partial leaching before being reprocessed through the new facility. Once this material is placed on the pad and leaching has been discontinued, it will be declared as leach pad Reserves for processing and metal recovery in late 2014 and beyond.
Extensive metallurgical test work including ongoing operations data show that all declared Reserves are amenable to conventional leaching either by heap leach technology or standard CCD milling with a Merrill Crowe recovery system for dore bar production. Estimated recovery grades are stated below in Reserves Criteria table.
SANTA ELENA UPDATED RESERVE AND RESOURCE MODELLING
The Santa Elena underground, open pit and leach pad Mineral Resource estimates were completed using Gemcom GEMS modelling software and are compliant with National Instrument 43-101 and conform to guidelines and definitions established by the Canadian Institute of Mining and Metallurgy (CIM). Using CIM Definition Standards for Mineral Resources and Mineral Reserves, Mineral Resources have been classified as being either Indicated or Inferred based on the number of samples used for estimation relative to the block location and the overall search distance confidence derived from the variogram analysis. Inferred Resources should not be used as the basis for evaluation of economic viability of the project. Details of these criteria will be presented in the Technical Report to be filed on SEDAR.
The Underground Mineral Resource estimates are based on verified information from historical and recent Company sources, up to and including drill hole SE-13-145. The block model includes the Main Mineralized Zone, El Cholugo and El Cholugo Dos. Solid boundaries for the mineralization were interpreted within a geological vein solid and constrained using a minimum 1 gpt AuEq cut-off from raw drill hole assay intervals. The Main Mineralized Zone grade shell was segmented into three major domains to accommodate flexures and structural orientation changes. The raw assay data was composited to 1 metre within the grade shell and was interpolated into a 5 metre x 5 metre x 5 metre block size model using Ordinary Kriging. Grade caps of 12 gpt Au and 600 gpt Ag were determined from log-probability and histogram analysis and applied after compositing. The search ellipse ranges were based on geological field observation, semi-variogram analysis and iterative interpolation. Grade interpolation within the vein hosted mineralization utilized two passes with anisotropic search ellipses oriented along the interpreted domain trend with major axes ranges of 90 and 117 metres, and semi-major ranges of 69 and 89 metres, respectively. A minimum of 2 composites, to a maximum of 15, were required to interpolate block grades with no more than 5 composites reporting from any one drill hole. Based on limited laboratory and in situ specific gravity testing, a value of 2.60 g/cm3 was applied as a specific gravity for all vein hosted mineralized material in the model.
The Open Pit Mineral Resource estimates are based on verified information from historical and recent Company sources. Solid boundaries for the mineralization were constrained at 0.20 gpt AuEq cut off and the open pit limits defines the mineralized material dated as December 31, 2012. All open pit Mineral Resources are declared as Reserves. Open pit production from January 1 to April 30, 2013 was subtracted from the December 2012 Resource estimation. The Resource estimation was completed using Gemcom GEMS software applying Ordinary Kriging. Raw data (blast holes, core and RC samples) were composited to a 5 metre length for blast holes and 2 metre length for in-pit core and RC samples. These composites were assessed for spatial and geostatistical purposes. A capping of 8 gpt Au and 300 gpt Ag was applied to core and RC data only. The composite data was interpolated into a 5 metre x 5 metre x 5 metre block size model using Ordinary Kriging in two passes. The first one using only blast hole data with an average spacing of 4 metres and interpolating grades to a maximum distance of 15 metres from the sample location. The second pass used only core and RC drilling data spaced on average 50 metres to interpolate 5 metre x 5 metre x 5 metre blocks located in distances beyond 15 metres from the sample location. The blasthole resource model was compared against the production data for verification purposes.
The Leach Pad Reserves (spent ore) have been estimated by the Company utilizing daily production, grade and mass records obtained at the crushing plant when conveying mineralized material to the pad. These records represent a complete production dataset since start up of the operations at Santa Elena. A detailed leach pad survey was completed in April 2013 to provide volumes of material placed on the pad. This volume was compared with weightometer data collected on the crushing plant to validate tonnes on the pad using well known specific gravity on the leach pad of 1.85 g/cm3. SilverCrest has completed 25 large diameter Becker Hammer, Tandem Mounted hydraulic drill holes (355 metres- drill holes spaced on a 25 metre by 25 metre grid) on the pad to obtain additional information for the purposes of validation of production data. Raw assay data were interpolated into a 100 metre x 100 metre x 6 metre block size model. An inverse distance squared methodology was used with a single domain and search ellipse. The search ellipse ranges were based on drill hole spacing, field observation, geostatistical analysis and iterative interpolation. No grade capping was applied. Grade interpolation within the two surfaces utilized an anisotropic ellipse oriented along the interpreted zone with major and semi-major axis ranges of 200 metres and a minor axis range of 200 metres. A minimum of 2 composites, to a maximum of 12, were required to interpolate block grades with no more than 3 composites reporting from any one drill hole in multi stage search radiuses to populate all blocks. The validation results support the estimation by the Company utilizing daily production data.
SANTA ELENA RESERVE CRITERIA
The Santa Elena Reserve estimates as stated above were completed using GEMS resource models for defining open pit, underground and leach pad Reserves along with criteria as presented in the following table.
Investorideas.com Newswire 1 Based on 3 year historic metal price trends
2 Underground mining costs, dilution and mine recovery are based on stope type, either long hole (68% of design stopes) or cut and fill (32% of designed stopes) mining method.
3 Processing includes crushing, milling, site refining and dry stack tailings disposal.
4 Estimated based on current operations and may vary on an annual basis.
5 Recoveries for leach pad based on 2009 Metcon test work and recent Company production leach cycles for life of pad. During the period from 2010 through 2012 (solution ramp up), an average recovery of 57% Au and 30% Ag was achieved. Refer to Technical Report dated May 11, 2011 on SEDAR. Leach pad CCD mill recoveries are based on in-situ remaining ounces on the pad.
Pre-Feasibility level results including Santa Elena economic analysis is expected to be announced within 45 days of this news release. The extended mine life with updated Reserves is anticipated to be 8 more years at the proposed 3,000 tonne per day milling rate.
The Santa Elena Mine has good potential for additional Resources with the deposit open in most directions. Further infill and expansion drilling is recommended to potentially increase Resources and convert to Reserves.
The Qualified Persons for the Santa Elena Resource and Reserve estimations who have reviewed and approved the contents of this news release are N. Eric Fier, CPG, P.Eng. and Chief Operating Officer for the Company, James Barr., P.Geo. and Mike Tansey, P.Eng. from the consulting firm of EBA, a Tetra Tech Company, and John Fox, P.Eng. of Laurion Consulting Inc. SilverCrest is now classified as a "producing issuer" as defined in NI 43-101, as a result of which the Technical Report is not required to be prepared by or under the supervision of an Independent Qualified Person. The Santa Elena Expansion Pre-Feasibility Study (Technical Report) in compliance with NI 43-101 is currently being prepared by the Qualified Persons and will be filed on SEDAR no later than 45 days from the date of this release.
SilverCrest Mines Inc. (TSX-V: SVL; NYSE MKT: SVLC) is a Canadian precious metals producer headquartered in Vancouver, BC. SilverCrest's flagship property is the 100%-owned Santa Elena Mine, located 150 km northeast of Hermosillo, near Banamichi in the State of Sonora, Mexico. The mine is a high-grade, epithermal gold and silver producer, with an estimated life of mine cash cost of US$8 per ounce of silver equivalent (55:1 Ag:Au). SilverCrest anticipates that the 2,500 tonnes per day facility should recover approximately 4,805,000 ounces of silver and 179,000 ounces of gold over the 6.5 year life of the open pit phase of the Santa Elena Mine. A three year expansion plan is underway to double metals production at the Santa Elena Mine and exploration programs are rapidly advancing the definition of a large polymetallic deposit at the La Joya property in Durango State.
FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking statements" within the meaning of Canadian securities legislation and the United States Securities Litigation Reform Act of 1995. Such forward-looking statements concern the Company's anticipated results and developments in the Company's operations in future periods, planned exploration and development of its properties, plans related to its business and other matters that may occur in the future. These statements relate to analyses and other information that are based on expectations of future performance, including silver and gold production and planned work programs. Statements concerning reserves and mineral resource estimates may also constitute forward-looking statements to the extent that they involve estimates of the mineralization that will be encountered if the property is developed and, in the case of mineral reserves, such statements reflect the conclusion based on certain assumptions that the mineral deposit can be economically exploited.
Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the forward-looking statements, including, without limitation: risks related to precious and base metal price fluctuations; risks related to fluctuations in the currency markets (particularly the Mexican peso, Canadian dollar and United States dollar); risks related to the inherently dangerous activity of mining, including conditions or events beyond our control, and operating or technical difficulties in mineral exploration, development and mining activities; uncertainty in the Company's ability to raise financing and fund the exploration and development of its mineral properties; uncertainty as to actual capital costs, operating costs, production and economic returns, and uncertainty that development activities will result in profitable mining operations; risks related to reserves and mineral resource figures being estimates based on interpretations and assumptions which may result in less mineral production under actual conditions than is currently estimated and to diminishing quantities or grades of mineral reserves as properties are mined; risks related to governmental regulations and obtaining necessary licenses and permits; risks related to the business being subject to environmental laws and regulations which may increase costs of doing business and restrict our operations; risks related to mineral properties being subject to prior unregistered agreements, transfers, or claims and other defects in title; risks relating to inadequate insurance or inability to obtain insurance; risks related to potential litigation; risks related to the global economy; risks related to the Company's status as a foreign private issuer in the United States; risks related to all of the Company's properties being located in Mexico and El Salvador, including political, economic, social and regulatory instability; and risks related to officers and directors becoming associated with other natural resource companies which may give rise to conflicts of interests. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking statements. The Company's forward-looking statements are based on beliefs, expectations and opinions of management on the date the statements are made. For the reasons set forth above, investors should not place undue reliance on forward-looking statements.
The information provided in this news release is not intended to be a comprehensive review of all matters and developments concerning the Company. It should be read in conjunction with all other disclosure documents of the Company. The information contained herein is not a substitute for detailed investigation or analysis. No securities commission or regulatory authority has reviewed the accuracy or adequacy of the information presented.
J. Scott Drever, President
SILVERCREST MINES INC.
Contact:
SilverCrest Mines Inc.
Fred Cooper
(604) 694-1730 ext. 108
Toll Free: 1-866-691-1730
(604) 694-1761 (FAX)
info@silvercrestmines.com
www.silvercrestmines.com
570 Granville Street, Suite 501
Vancouver, British Columbia V6C 3P1
Published at Investorideas.com Newswire
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BC Residents and Investor Disclaimer : Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894

Tuesday, May 28, 2013

Mexican Mining Stock Alert: US Precious Metals (USPR) Reports Deal with Mesa Acquisitions/Alba Petroleos

May 28, 2013 (Investorideas.com Mining stocks newswire) US Precious Metals, Inc. (OTCQB: USPR) reports that May 22, 2013 it entered into an agreement with Mesa Acquisitions Group, LLC. in association with Alba Petroleos ( www.albapetroleos.com.sv ) to further explore and develop USPRs Mexican concessions.

Mesa Acquisitions/Alba Petroleos has committed to expend up to approximately $50 million to explore and develop pre-determined portions of two of our Mexican concessions known as Solidaridad 1 & Solidaridad 2 located in Michoacan , Mexico . In addition, they will construct the necessary plant and/or bring in the necessary equipment to process the head ore. In return, they will receive 10 million shares of USPR common stock and receive a 30% interest of the project. USPR will retain 70% of the project.
The work will be implemented and funded by our joint venture partners in 3 stages
Stage 1: Immediate dispatch of high tech satellite imaging to identify mineralization and to confirm the Company's two previous drilling campaigns. This phase will commence immediately.
Stage 2: Develop the infrastructure necessary to commence mining and milling operations, including road, water, and power installation and staging area development for employees on site. This phase is expected to commence upon completion of Phase 1.
The cost to implement Phase 1& 2 is estimated to be $10 million.
Stage 3: Commence surface mining and sub-surface (underground) mining and build out of processing facilities. This phase is dependent on the timelines on Phase 1 & 2.
The cost to implement Phase 3 is estimated to be $40 million.
Chief Operating Officer Ruben Figueredo and Chief Technical Officer Juan Serrat, who were hired by USPR through Mr. George Mesa's (principal of Mesa Acquisitions Group LLC) recommendation a year ago, will work closely with Mr. Mesa's team to achieve our benchmarks in a timely fashion. On September 21, 2012, USPR appointed Mr. Mesa as Director of Security for its Mexican mining claims.
Jerry Pane, USPR's Chairman, stated "I am very excited to be in the position today to launch the development of our Michoacan, Mexico property. Having worked very closely with Mr. Mesa during the past couple of years, we have seen the endless hours he and his team have spent at our site developing a comprehensive plan of action. It brings great comfort to know that this is the beginning of USPR achieving its short and long term goals. In conjunction with our recently announced agreement to acquire Resource Technology Corp. ("RTC") USPR is poised to maximize value for all our shareholders."
Stay informed on U.S Precious Metal developments by getting FREE news alerts & updates delivered directly to your mobile phone by texting USPR to 545454 from your cellular device
About USPR:
US Precious Metals, Inc. is an exploration stage company engaged in the acquisition, exploration and development of mineral properties. We focus on gold, silver and copper primarily located in the State of Michoac√°n , Mexico where we own exploration and exploitation concessions to approximately 37,000 contiguous acres of mineral rights. In addition, USPR recently announced the agreement to acquire Resource Technology Corp. ("RTC"). RTC has a plasma processing agreement using plasma processing technology and is a 1/3 net revenue share partner in the extraction of precious metals from three ore supply agreements enabling it to receive 1/3 of the resulting revenues.
About Alba Petroleos:
Alba Petróleos is an international conglomerate located in Venezuela , and is owned in 40% by municipalities governed by President Funes' Party, and in 60% by PDV Caribe, a subsidiary of PDVSA of Venezuela. The company is involved in multiple industries throughout South America and further afield. www.albapetroleos.com.sv
About Mesa Acquisitions Group, LLC:
Mesa Acquisitions Group, LLC is a private entity owned by Mr. George Mesa, and is located in Miami , Florida.
Disclaimer: This Press Release may contain, among other things, certain forward-looking statements, including, without limitation, (i) statements with respect to the Company's plans, objectives, expectations and intentions; and (ii) other statements identified by words such as "may", "could", "would", "should", "believes", "expects", "anticipates", "estimates", "intends", "plans" or similar expressions. These statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. These forward-looking statements involve certain risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company's control). USPR news alerts send via SMS Text Message are free; however standard message & data rates may apply. Check with your wire carrier for more details.
U.S. Precious Metals, Inc.
http://usprgold.com (Our new website is currently under construction due to the exciting new developments we are experiencing. We anticipate that we will be back online in the very near future)
Investor Relations:
FN Media Group
ir@fnmediagroup.com
(954)968-9322
SOURCE: U.S. Precious Metals, Inc.
Published at Investorideas.com newswire
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Wednesday, May 15, 2013

Mining Stock News: SilverCrest (TSX.V: SVL) (NYSE MKT: SVLC) Reports Q1, 2013 Financial Results Cash Flow from Operations of $8.8 Million ($0.08 Per Share) Net Earnings $6.0 Million ($0.06 Per Share)

VANCOUVER, BRITISH COLUMBIA - May 15, 2013 (Investorideas.com Mining Stocks Newswire) SilverCrest Mines Inc. (TSX.V:SVL) ( NYSE MKT: SVLC) (CW5.F) ("SilverCrest" or the "Company") is pleased to announce its financial results for the first quarter ended March 31, 2013. All financial information is prepared in accordance with IFRS and all dollar amounts are expressed in U.S. dollars unless otherwise specified. The information in this news release should be read in conjunction with the Company's unaudited condensed consolidated interim financial statements for the three months ended March 31, 2013 and associated management discussion and analysis ("MD&A") which are available from the Company's website at www.silvercrestmines.com and under the Company's profile on SEDAR at www.sedar.com.

J. Scott Drever, President stated; "We are pleased with the steady start to 2013, for which operating costs and production were consistent with budget and mine plan, however, our financial performance in comparison to the extraordinary stellar first quarter of 2012, was impacted by lower metal prices and our decision to accelerate waste removal resulting in less ore processed and ultimately fewer ounces of gold sold compared to the first quarter 2012. Our operating team continues to tightly control operating costs, which resulted in the average cash operating cost of ($7.69) per ounce during the first quarter which was less than the corporate guidance of $8.50 per silver equivalent ounce. We are comfortable that, as the strip ratio declines during the second half of 2013 and the ore grades in the pit continue to increase, we will meet our corporate market guidance of 625,000 ounces of silver and 33,000 ounces of gold for 2013."
FINANCIAL HIGHLIGHTS OF Q1, 2013, Compared to Q1, 2012:
  • Cash flow from operations (1) decreased 28% to $8.8 million ($0.08 per share).
  • Cash operating cost per silver equivalent ounce sold (2) increased 10% to $7.69, but below market guidance of $8.50.
  • Revenues reported - IFRS (3) decreased 22% to $15.3 million.
  • Metal sales of 157,088 ounces of silver were up 12% and 7,370 ounces of gold were down 25%.
  • Bullion inventory at March 31, 2013, included 43,278 ounces of silver and 2,106 ounces of gold.
  • Realized spot metal prices were down for ounces sold - silver price fell 12% and gold price fell 5%.
  • Net earnings were similar at $6.0 million ($0.06 per share), compared to $6.1 million ($0.07 per share).
  • Cash, cash equivalents and short term investments were $41.1 million - Working capital was $48.9 million (at March 31, 2013).
Comparison of the three months ended March 31, 2013 to March 31, 2012
Net earnings were $6,002,276 ($0.06 per share basic) for the first quarter, consistent with $6,070,520 ($0.07 per share basic) in the first quarter of 2012.
Silver and gold revenues totalled $15,329,642 (2012 - $19,599,570) in the first quarter. Silver and gold revenues on a cash basis decreased by 17% to $14,776,451 (2012 - $17,776,691), primarily from a reduction in the number of gold ounces sold and lower realized spot prices.
Silver sales for the quarter were 157,088 ounces (2012 - 139,771), or 12% higher than the same period in 2012, but the average realized price was 12% lower at $30 (2012 - $34) per ounce. Total gold sales were 7,370 ounces (2012 - 9,788) or 25% below 2012. The Company sold 5,896 spot gold ounces (2012 - 6,471) at lower market spot realized prices of $1,626 (2012 - $1,720) per ounce. The Company delivered 1,474 gold ounces (2012 - 1,958) to Sandstorm at $350 per ounce.
Cost of sales amounted to $4,368,519 (2012 - $4,491,131). The cash cost per silver equivalent ounce sold amounted to $7.69, Au:Ag 55.8:1 (2012 - $7.00, Au:Ag 51.2:1). Corporate market guidance estimate for 2013 continues at $8.50 per silver equivalent ounce, (Au:Ag 55:1). The increase in cash cost per silver equivalent ounce sold was driven by higher operating costs during the second half of 2012 and lower gold sales, which corresponded to an increase in the average silver equivalent ounce value loaded on the leach pad and recorded in cost of sales. The overall cash cost per silver equivalent ounce increased, despite a decrease of approximately $0.50 per silver equivalent ounce from a lower silver to gold price ratio during the first quarter compared with the same quarter in 2012.
General and administrative expenses increased by 14% to $1,340,926 (2012 - $1,172,197) primarily due to an increase in regulatory expense and remuneration, resulting from the addition of new Corporate personnel and increased compensation for management.
Investorideas.com Newswire
(1) Cash flow from operations before changes in working capital items. This is a Non-IFRS performance measure.
(2) Silver equivalent ounces consist of the number of ounces of silver sold plus the number of ounces of gold sold multiplied by the ratio of the spot gold price to the spot silver price at the quarter end dates (Q1 2013; 55.8:1, Q1 2012; 51.2:1).
(3) IFRS 18 - Revenue should be recorded at its fair value, which for gold and silver is the market spot price on the date revenue is recognized.
(4) The MBL Hedging Facility was fully repaid in fiscal 2012, so this non-cash adjustment has now been eliminated.
NON-IFRS PERFORMANCE MEASURES
The discussion of financial results in this press release includes reference to cash operating cost per silver equivalent ounce sold which is a non-IFRS performance measure. The Company presents this measure to provide additional information regarding the Company's financial results and performance. Please refer to the Company's MD&A for the three months ended March 31, 2013, for a reconciliation of this measure to reported IFRS results.
OUTLOOK FOR 2013
SilverCrest's immediate focus is to continue to efficiently operate its flagship Santa Elena low cost open pit silver and gold mine, complete the construction of a new 3,000 tonne-per-day mill facility on schedule and on budget, and complete an update of the Santa Elena Resources, Reserves and Life of Mine Plan ("LOMP"). The Company will also advance the delineation of the large silver, copper, gold deposit at the La Joya Property by completing a PEA and further definition drilling of additional resources at La Joya and other exploration targets in its vicinity.
Santa Elena Open Pit Production Targets
  • Meet estimated 2013 production of 625,000 ounces of silver and 33,000 ounces of gold (2.4 million ounces of silver equivalent, Ag:Au 55:1) (Q1 2013; 153,481 silver ounces and 7,225 gold ounces or 556,671 ounces of silver equivalent, Ag:Au 55.8:1).
  • Achieve estimated 2013 direct operating costs of $20.7 million (Q1 2013; $5.4million).
  • Maintain estimated cash operating cost of $8.50 per ounce silver equivalent sold (Ag:Au 55:1). (Q1 2013; $7.69 per ounce silver equivalent).
  • Limit estimated operational sustaining capital expenditure to $1.0 million. (Q1 2013; approx $0.4 million incurred).
Santa Elena Expansion Targets
  • Complete construction of new conventional 3,000 tpd CCD processing facility on schedule and on budget - Capital assigned for 2013 is $53.2 million. (Q1 2013; approx $25.5 million committed and $10.7m incurred).
  • Complete underground decline development of main ramp to 1,500 metres to enable physical access to ore underground for direct mill feed in 2014 - Capital assigned for 2013 is $7.8 million. (Q1 2013; approx $0.8m incurred).
  • Complete Pre-Feasibility Study on Expansion Plan (mill, underground and re-processing leach pad material), including Resources, Reserve and LOMP revisions.
  • Complete surface drilling of approximately 15,000 metres to expand additional resources and reclassify to reserves - Capital assigned for 2013 is $3.2 million. (Completed: Q1 2013; approx 20,850 metres and $3.0 million incurred, additional drilling of approx 7,000 metres was completed based on success of further discoveries).
  • Systematic and aggressive review of new targets near Santa Elena for acquisition and exploration. Subsequent to March 31, 2013 a new property ("San Juan") was acquired (100%) at minimal cost that is approximately 45 kilometres from the Santa Elena Mine. The San Juan Mine was a past producer with reported silver grades over 1 kilogram per tonne. This property is being evaluated for initial drilling in 2013. Mapping and surface sampling results to date show a mineralized system over 3 kilometres along strike with multiple near surface silver-gold targets. Capital assigned for 2013 is minimal and is covered under a general Mexico reconnaissance budget of $1.0 million.
La Joya Project Targets
  • File Updated Resource Estimate NI43-101 Technical Report in Q1 2013 with initial positive metallurgical results. (Completed).
  • Complete and File a PEA NI43-101 Technical Report evaluating the high grade portion of the deposit as a potential "Starter" Pit. (Commenced).
  • Complete Phase III drilling program revised to approximately 40 core and reverse circulation drill holes for in-fill and expansion of current resources. (Capital assigned for 2013 revised to $3 million).
  • Complete final staged payments of approximately $4.0 million under the La Joya agreements to acquire 100% of the 10 mineral concessions under option. The final payments can be made by a combination of cash and shares.
  • Continue to Explore the Coloradito, La Esperanza and Santo Nino targets, which are adjacent to the Main Mineralized Trend.
  • Explore geophysical targets, La Paloma and El Pino within the current land position.
The Qualified Person under National Instrument (NI 43-101) Standards of Disclosure for Mineral Projects for this News Release is N. Eric Fier, CPG, P.Eng, and Chief Operating Officer for SilverCrest Mines Inc., who has reviewed and approved its contents.
SilverCrest Mines Inc. (TSX-V: SVL; NYSE MKT: SVLC) is a Canadian precious metals producer headquartered in Vancouver, BC. SilverCrest's flagship property is the 100%-owned Santa Elena Mine, located 150 km northeast of Hermosillo, near Banamichi in the State of Sonora, Mexico. The mine is a high-grade, epithermal gold and silver producer, with an estimated life of mine cash cost of US$8 per ounce of silver equivalent (55:1 Ag:Au). SilverCrest anticipates that the 2,500 tonnes per day facility should recover approximately 4,805,000 ounces of silver and 179,000 ounces of gold over the 6.5 year life of the open pit phase of the Santa Elena Mine. A three year expansion plan is underway to double metals production at the Santa Elena Mine and exploration programs are rapidly advancing the definition of a large polymetallic deposit at the La Joya property in Durango State.
FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking statements" within the meaning of Canadian securities legislation and the United States Securities Litigation Reform Act of 1995. Such forward-looking statements concern the Company's anticipated results and developments in the Company's operations in future periods, planned exploration and development of its properties, plans related to its business and other matters that may occur in the future. These statements relate to analyses and other information that are based on expectations of future performance, including silver and gold production and planned work programs. Statements concerning reserves and mineral resource estimates may also constitute forward-looking statements to the extent that they involve estimates of the mineralization that will be encountered if the property is developed and, in the case of mineral reserves, such statements reflect the conclusion based on certain assumptions that the mineral deposit can be economically exploited.
Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the forward-looking statements, including, without limitation: risks related to precious and base metal price fluctuations; risks related to fluctuations in the currency markets (particularly the Mexican peso, Canadian dollar and United States dollar); risks related to the inherently dangerous activity of mining, including conditions or events beyond our control, and operating or technical difficulties in mineral exploration, development and mining activities; uncertainty in the Company's ability to raise financing and fund the exploration and development of its mineral properties; uncertainty as to actual capital costs, operating costs, production and economic returns, and uncertainty that development activities will result in profitable mining operations; risks related to reserves and mineral resource figures being estimates based on interpretations and assumptions which may result in less mineral production under actual conditions than is currently estimated and to diminishing quantities or grades of mineral reserves as properties are mined; risks related to governmental regulations and obtaining necessary licenses and permits; risks related to the business being subject to environmental laws and regulations which may increase costs of doing business and restrict our operations; risks related to mineral properties being subject to prior unregistered agreements, transfers, or claims and other defects in title; risks relating to inadequate insurance or inability to obtain insurance; risks related to potential litigation; risks related to the global economy; risks related to the Company's status as a foreign private issuer in the United States; risks related to all of the Company's properties being located in Mexico and El Salvador, including political, economic, social and regulatory instability; and risks related to officers and directors becoming associated with other natural resource companies which may give rise to conflicts of interests. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking statements. The Company's forward-looking statements are based on beliefs, expectations and opinions of management on the date the statements are made. For the reasons set forth above, investors should not place undue reliance on forward-looking statements.
The information provided in this news release is not intended to be a comprehensive review of all matters and developments concerning the Company. It should be read in conjunction with all other disclosure documents of the Company. The information contained herein is not a substitute for detailed investigation or analysis. No securities commission or regulatory authority has reviewed the accuracy or adequacy of the information presented.
J. Scott Drever, President
SILVERCREST MINES INC.
Contact:
SilverCrest Mines Inc.
Fred Cooper
(604) 694-1730 ext. 108
Toll Free: 1-866-691-1730
(604) 694-1761 (FAX)
info@silvercrestmines.com
www.silvercrestmines.com
570 Granville Street, Suite 501
Vancouver, British Columbia V6C 3P1
Published at Investorideas.com Newswire
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