SILVER FALCON MINING, INC. (SFMI) CONVERTS INVENTORY OF CONCENTRATES TO CASH REVENUE.
Murphy, Id. -- (MARKET WIRE) -- 10/27/10 -- Silver Falcon Mining, Inc. (OTCBB: SFMI) Silver Falcon Mining, Inc. has contracted to smelt and sell for CASH REVENUE its first shipment of Gold and Silver concentrate from its operation at the 100% owned Diamond Creek Mill in Murphy, Idaho.
Arrangements have been made with a reputable smelting house for this first shipment and sale of five hundred eight pounds (508) of precious metal bearing concentrate, produced from the first 491 hours (approx. 20 days) of mill operations from May 17, 2010. Concentrate is an amalgamation of metals including gold and silver; once smelted the true gold and silver values of this 508 pounds will be realized. This smelt will result in CASH REVENUE that Management believes will be inked in its 4th quarter of operations.
The Company continues to process ore and accumulate, in its vaults, inventories of concentrates, readying for future shipments.
Mr. Pierre Quilliam, President of Silver Falcon Mining, Inc., said, “We have completed the circle in the transformation of the tailings from War Eagle Mountain which began with the hauling of the Belle Peck adit tailings. These are very exciting times for us as we can now concentrate on increasing production at the mill. This will be achieved in two ways: First, we will now switch the production to the Oso tailing zone, a higher grade of ore currently being stockpiled in the Diamond Creek Mill yard. And, second, in order to increase production beyond the present 125 tpd (tons per day) capacity, the Company will be purchasing more plant equipment.” He further adds, “During our continued evaluations of the numerous shafts and vein structures throughout War Eagle Mountain, some exciting new discoveries have come to light and will generate forthcoming announcements.”
Silver Falcon Mining, Inc. cautions that the statements made in this press release constitute forward-looking statements, and not guarantees of future performance and actual results or developments may differ materially from the projections in the forward-looking statements. Forward-looking statements are based on the estimates and opinions of management at the time the statements are made.
Yes International Ltd.
Attn: Rich Kaiser
3419 Virginia Beach Blvd., #252
Virginia Beach, VA 23452