Aurcana Reports Q2 2015 Financials

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 14, 2015) - Aurcana Corporation ("Aurcana" or the "Company") (TSX VENTURE:AUN)(OTCQX:AUNFF) is pleased to report its unaudited financial results for the quarter ended June 30, 2015 ("Q2 2015"). The summary of the selected financial information in this press release should be read in conjunction with the unaudited financial statements and the related management's discussion and analysis for the three months ended June 30, 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.

Mr. Kevin Drover, Aurcana's President and CEO, said. "Over the past year we have adapted to very difficult metals markets, reducing our production costs by 26% per ounce on a silver equivalent basis. The Company continues to focus on reducing operating costs and increasing efficiencies. Operations are impacted by the current poor metals prices however Aurcana is now well positioned to benefit from any improvement in metals prices, particularly silver and copper prices.

Significant highlights for Q2 2015 were:

1. Earnings (losses) from mining operations in Q2 2015 were ($0.6) million, compared to ($1.4) million in Q2 2014.
2. Operating cash flow before changes in working capital of ($0.1) million, compared to ($0.9) million in Q2 2014.
3. Cash cost per tonne milled decreased 17.9% in Q2 2015 to $29.44 from $35.86 in Q2 2014.
4. Cash cost per silver equivalent ounce produced (before treatment, refining and smelting charges - "TCRC") decreased 26.0% to $7.85 in Q2 2015, compared to $10.61 in Q2 2014.
5. Total silver equivalent production decreased 1% to 779,339 ounces in Q2 2015, compared to 786,505 ounces in Q2 2014.
6. The price of silver decreased to $16.32 in Q2 2015 from $20.43 in Q2 2014.
7. Average silver grades decreased to 52 g/t in Q2 2015, compared to 55 g/t in Q2 2014, due to delays in mine production development.

Earnings

The Company had earnings (losses) from mining operations at La Negra for the quarter ended June 30, 2015 in the amount of ($0.6) million, compared to ($1.4) million in Q2 2014, primarily due to weaker metals prices and lower grades of mineralization in mined material. Net loss for the quarter decreased to ($1.8) million or ($0.02) per share, compared with a net loss of ($7.4) million or ($0.11) per share in Q2 2014.