Aurcana Announces Completion of Transactions Under Amended Credit Facility Agreement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 30, 2014) - Aurcana Corporation ("Aurcana" or the "Company") (TSX VENTURE:AUN)(OTCQX:AUNFF) is pleased to announce that it has today completed the transactions contemplated under the amended and restated credit facility agreement (the "Amended Credit Facility Agreement") with Orion Mine Finance (Master) Fund I LP (the "Lender"), an affiliate of Orion Mine Finance Group, as announced on April 29, 2014.

Amended Credit Facility

Pursuant to the Amended Credit Facility Agreement:

• The principal amount under the loan (the "Loan") has been reduced from US$50,000,000 to US$40,000,000.
• In consideration for an aggregate debt settlement of US$10,333,333, Aurcana agreed to issue an aggregate of 16,499,501 common shares of the Company to the Lender at a deemed issue price of US$0.62 or Cdn $0.69, in consideration for reducing the principal amount outstanding under the Loan and terminating the Shafter Mine silver and gold offtake agreement. The Company has today issued an aggregate of 6,418,249 of such shares (the "Settlement Shares"), with the balance of 10,081,252 common shares to be issued upon receipt of regulatory approval. The Settlement Shares are subject to a hold period under applicable securities laws expiring on September 1, 2014. The Settlement Shares have been deposited in escrow pursuant to the terms of a voluntary escrow agreement, to be released in quarterly instalments over a period of 12 months from closing, subject to earlier release in certain circumstances.
• The Loan will be repaid in 48 equal monthly instalments. Early prepayment may occur at any time without charges.
• Interest on the Loan continues to accrue at a rate equal to LIBOR (subject to a minimum of 1%) plus 5.5% per annum.
• The Loan continues to be guaranteed by Aurcana's subsidiaries and is also secured against all of the Company's and its subsidiaries' present and future assets.
• Aurcana has entered into offtake agreements with the Lender in respect of copper, zinc and lead concentrate produced at its La Negra mine on standard commercial terms for the period from January 1, 2017 to December 31, 2020.

About Aurcana Corporation