SILVER FALCON MINING, INC. (SFMI) CEO, PIERRE QUILLIAM, ADDRESSES SHAREHOLDERS REGARDING OPERATIONAL MODIFICATIONS AT ITS 100% OWNED DIAMOND CREEK MILL FACILITY, MURPHY, IDAHO, USA.
Murphy, Id. -- (MARKET WIRE) -- 03/01/12 -- Silver Falcon Mining, Inc. CEO, Pierre Quilliam, states today:
“Since June 2011, we have done extensive and exhaustive tests on our ore to certify its values and production ratios. We have made sales of bullion dore in the last quarter of 2011 and are continuing to do so this year in increasing quantities. Until the metallurgical complex becomes permanently occupied, information regarding production values will only be available in quarterly filings. After occupancy, values will be frequently posted on the Company’s website.
Experience has proven that we are feeding the Diamond Creek Mill with an average of precious metals (PM) in excess of 4.38 grams per ton GOLD and 16.44 grams per ton SILVER, with a net tonnage of 100 wet tons, or 40.3 dry tons per day. Assays compiled over a 12-month period, coupled with actual production of bullion dore, have proven that we need to improve our recovery process. As it stands today, we recover approximately 15%-25% of the available precious metals in our ore. Therefore, there remains 75%-85% high grade ore within the 31,218 tons stockpiled, which is securely stored and ready for processing. The ore concentrate values estimate based on this tonnage is approximately 3,659 Oz. Gold and 16,550 Oz. Silver. Using commodity prices of $1,625.00 GOLD (Au) and $30.00 (Ag) silver, the estimate gross value of the concentrates pre-smelt are $5.5M GOLD AND $500,000 SILVER.
After evaluating a host of processes of PM extraction methods and technologies, which failed testing as a cost effective and proven alternative, we have elected to add a closed circuit leaching process with clean discharge at the Diamond Creek Mill Facility. This floatation system will allow us to float (Froth Flotation) the PM in the tailings from the gravity mill circuit and concentrate them into an inert material. The closed circuit cyanide leaching tank will then recover 83% or greater of the PM values in the froth concentrate which is then ready to smelt. This closed system process will give SFMI the ability to operate its milling complex at the planned profit (SEE TABLE or Page -23- at link; UPDATED HISTORY OF MINING ON WAR EAGLE MOUNTAIN v8.2.pdf
Silver Falcon Mining, Inc. (SFMI:OTCBB) is a developer and explorer of mineral resource properties, primarily in Owyhee County, Idaho, USA, with the objective of being a profitable, low-cost, precious metal producer and creating significant growth in shareholder value.
Further Information: contact Rich Kaiser, Investor Relations, 800-631-8127 and/or visit http://www.silverfalconmining.com.
About Silver Falcon Mining, Inc.
SFMI has mineral rights to approximately 2,000 acres on War Eagle Mountain in southern Idaho. Its 100% owned Diamond Creek Mill is situated at the foot of War Eagle Mountain and is serviced by 6.2 miles of paved roads from State Highway 78. It maintains year round access to the Sinker Tunnel which will facilitate underground mining of the rich veins crisscrossing the mountain and employs a mining oriented local workforce.
For further information, contact Mr. Richard Kaiser, Investor Relations, 757-306-6090 and/or www.silverfalconmining.com
SFMI cautions that statements made in press releases constitute forward-looking statements, and makes no guarantees of future performance and actual results/developments may differ materially from projections in forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the time statements are made.
Yes International Ltd.
Attn: Rich Kaiser
3419 Virginia Beach Blvd., #252
Virginia Beach, VA 23452