Aurcana Reports 2013 Financial Results

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 1, 2014) - Aurcana Corporation ("Aurcana" or the "Company") (TSX VENTURE:AUN)(OTCQX:AUNFF) is pleased to report its audited financial results for December 31, 2013. The summary of the selected financial information should be read in conjunction with the audited financial statements and the related management's discussion and analysis dated April 30, 2014 together referred to as the "Financial Statements", which have been filed on SEDAR (www.sedar.com) and the Company's website (http://www.aurcana.com). All figures are in US dollars unless otherwise noted.

The 2013 Earnings Conference Call will be at 1:00 pm Eastern Time on Friday, May 2. See bottom of press release for details.

The most significant highlights for 2013 were:

1. Silver Equivalent production increased 14% to 2,868,460 ounces in 2013 compared to 2,523,441 ounces in 2012.
   
   
2. Ore mined from La Negra increased 30% to 869,027 tonnes in 2013 from 670,930 tonnes in 2012.
   
   
3. Ore milled from La Negra increased 19% to 825,014 tonnes in 2013 from 691,260 tonnes in 2012.
   
   
4. Upgraded La Negra mill from 2,500 tpd to 3,000 tpd in 2013, a 20% increase in processing capacity.
   
   
5. Earnings from mining operations in 2013 decreased to $11.5 million, compared to $25.0 million in 2012, due to decreases in metals prices and producing lower grade silver.
   
   
6. Revenues decreased to $45.0 million in 2013 from $56.9 million in 2012 due to decreases in metals prices and producing lower grade silver.
   
   
7. Cash cost per tonne milled increased to $34.76 from $34.39 in 2012.
   
   
8. Production cash cost per silver equivalent to $10.00 ounce in 2013, from $9.42 in 2012.
   
   
9. Silver production of 1,255,444 ounces in 2013 compared to 1,374,166 ounces in 2012.
   
   
10. Shafter Silver Mine in Texas was put on care and maintenance on December 19, 2013 mainly as a result of lower metal prices and their impact on the project's mineral resources.
    
    

Earnings

The Company had earnings from mining operations of $11.5 million for the year ended December 31, 2013 (2012: $25.0 million); loss before taxes of ($131.2) million (2012: $15.3 million); earnings ($134.8) million net loss (2012: $10.0 million).