Aurcana Reports 3rd Quarter Financial Results

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 1, 2014) - Aurcana Corporation ("Aurcana" or the "Company") (TSX VENTURE:AUN)(OTCQX:AUNFF) is pleased to report its unaudited financial results for the third quarter ended September 30, 2014. The summary of the selected financial information should be read in conjunction with the Condensed Interim Consolidated Financial Statements (Unaudited) and the related Management Discussion and Analysis for the quarter ended September 30, 2014 dated November 28, 2014 together referred to as the "Financial Statements", which have been filed on SEDAR (www.sedar.com) and are also available on the Company's website (www.aurcana.com). All figures are in US dollars unless otherwise noted.

Significant highlights for the 3^rd quarter ending September 30, 2014 are:

• Revenues increased 10% to $11.4 million in Q3, 2014 from $10.4 million in Q3, 2013, and 23% from $9.2 million in Q2, 2014. The higher revenues resulted from significant increases in silver, zinc, lead and copper production, despite lower metals prices.
  
  
• Silver equivalent ounces produced increased 32%, marking record production of 997,530 ounces in Q3, 2014, compared to 754,788 ounces produced in Q3, 2013. This is a 27% increase over the 786,505 equivalent ounces produced in Q2, 2014.
  
  
• At the La Negra operations the cash cost per silver equivalent ounce produced decreased 17% to $7.79 in Q3, 2014 as compared to $9.40 in Q3, 2013. Cash cost per silver equivalent ounce produced including treatment and refining charges in Q3, 2014 was $11.86 as compared to Q3, 2013 of $12.60.
  
  
• Earnings from mining operations were $0.6 million in Q3, 2014, down from $2.6 million in Q3, 2013, due to the lower market prices of metals (down 17%) and changes in inventory of $2.2 million. Earnings from mining operations improved from a loss of $1.1 million in Q2, 2014.
  
  
• Comprehensive loss decreased to $2.2 million in Q3, 2014, compared to loss of $15.3 million in Q3, 2013, with operating cash flow before changes in working capital of $0.6 million in Q3, 2014, compared to negative cash flows of ($5.1) million in Q3, 2013.

Revenue

During the quarter ended September 30, 2014, the Company generated revenues from the sale of 333,254 ounces of silver (Q3, 2013: 245,149 ounces); 3,127 tonnes of copper concentrate (Q3, 2013: 2,338 tonnes); 4,667 tonnes of zinc concentrate (Q3, 2013: 4,026 tonnes); and 950 tonnes of lead concentrate (Q3, 2013: 739 tonnes); for total net revenues of $11.4 million (Q3, 2013: $10.4 million). This was mainly due to an increase in the silver grade, the benefit of which is partially offset by a combination of lower metal prices and higher TCRC deductions.