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May 15, 2012 Corporate Update and Appointment of Investor Relations Manager Vancouver, B.C. -- Santacruz Silver Mining Ltd. ("Santacruz" or the "Company") Santacruz is pleased to report significant progress at its Rosario project, located in the historical mining district of Charcas, San Luis Potosi, Mexico. In August 2011 the Company signed an option agreement with Compañía Minera Nukay, S.A. de C.V. a subsidiary of Goldcorp Inc. to purchase a mill with a capability of 500 tonnes per day. The mill, which is currently being disassembled will be moved to the property within the third quarter of 2012. The mill is scheduled to be commissioned within the first quarter of 2013. Utility permits for water and power are expected to be ready during the third quarter of 2012. In addition, the company is continuing with its exploration program at the Rosario project which is budgeted to include 4,310 metre diamond drilling for 2012, focusing on the Rosario I and II veins with an objective to upgrade and increase current silver resources. A 6,000 metre diamond drilling campaign will commence during the second quarter of 2012 at the Company's Gavilanes high grade silver project. The defined drill targets outlined in the Company's current NI 43-101 technical report are located on the stockwork area of El Hundido, as well as on the Guadalupe and Descubridora veins. The Company has retained Gustavson Associates, LLC ("Gustavson") to prepare a NI 43-101 technical report on the San Felipe property which is expected to be concluded by the third quarter of 2012. The Company is also pleased to announce that it has entered into an employment agreement dated May 7, 2012 (the "Agreement") with Neil MacRae, pursuant to which Mr. MacRae will provide investor relations services to the Company. Mr. MacRae will administer Santacruz's investor relations matters, including creating promotional and information materials for the Company, developing public relations programs for media awareness, and liaising between Santacruz and the brokerage community and investors. Pursuant to the terms of the Agreement, Mr. MacRae's appointment commenced on May 7, 2012 and continues for an indefinite period. The Company has granted Mr. MacRae stock options to acquire 300,000 common shares of the Company at an exercise price of $0.90 per share for a period of three years. Mr. MacRae brings with him a wealth of knowledge and experience in dealing with the investment community. He has worked for 18 years in the mining industry in investor relations. Most recently he has been involved with producing mining companies with a primary focus in operations in Mexico. His recent positions include Director, Investor Relations with NovaGold Resources Inc., Farallon Mining Ltd, and First Majestic Silver Corp. For further information please contact: Arturo Prestamo Elizondo, President, Chief Executive Officer and Director Santacruz Silver Mining Ltd. Neil MacRae Santacruz Silver Mining Ltd. Email: info@santacruzsilver.com Telephone: (778) 999-4653 Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. All scientific or technical nature information herein was approved by Harald Hoegberg and Randy Henkle (both of whom are qualified persons as such term is defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects). Mr. Hoegberg and Mr. Henkle are independent consultants for Santacruz. |
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| aus der Diskussion: | Santacruz Silver Mining (SCZ.V): Der neue Stern am Silberhimmel? |
| Autor (Datum des Eintrages): | Honeymoon (15.05.12 14:50:20) |
| Beitrag: | 1 von 5,417 (ID:43167292) |
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