Aurcana Reports 2014 Financial Results

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 14, 2015) - Aurcana Corporation ("Aurcana" or the "Company") (TSX VENTURE:AUN)(OTCQX:AUNFF) is pleased to report its audited financial results for December 31, 2014. 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 13, 2015 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 most significant highlights for 2014 were:

1. Silver Equivalent production increased 29% to 3,704,237 ounces in 2014 compared to 2,868,460 ounces in 2013.
2. Ore milled from La Negra increased 17% to 961,840 tonnes in 2014 from 825,014 tonnes in 2013.
3. Earnings from mining operations in 2014 decreased to $2.5 million, compared to $11.5 million in 2013, due to decreases in metals prices and producing lower grade silver.
4. Revenues decreased to $42.7 million in 2014 from $45.0 million in 2013 due to decreases in metals prices and producing lower grade silver.
5. Operating cash flow before changes in working capital of ($0.4) million compared to ($5.0) million in 2013.
6. Cash cost per tonne milled decreased 11% in 2014 to $32.66 from $36.58 in 2013.
7. Production cash cost per silver equivalent to $8.48 ounce in 2014, from $10.52 in 2013.
8. Silver production increased by 18% in 2014 to 1,476,729 ounces compared to 1,255,444 ounces in 2013.

Earnings

The Company had earnings from mining operations of $2.5 million for the year ended December 31, 2014, compared to $11.5 million in 2013; loss before taxes of ($21.0) million compared to ($134.8) million in 2013. Loss per share was ($.28) in 2014 compared to loss per share of ($2.31) in 2013.

The decrease in earnings from mining operations was related to the decrease in the selling prices of metals produced by the Company in 2014.

Revenue

During the year ended December 31, 2014, the Company generated revenues from the sale of 13,797 tonnes of copper concentrate (2013: 10,082 tonnes); 18,429 tonnes of zinc concentrate (2013: 15,887 tonnes); 3,297 tonnes of Lead Concentrate (2013: 3,006 tonnes); and 1,212,868 ounces of silver (2013: 1,073,072 ounces) for total net revenues of $42.7 million (2013: $45.0 million).