🕐08.11.11 - 15:54 Uhr
NEWS OUT(GOLD):SFMI.OTCBB-SILVER FALCON MINING-BULLION DORE REVENUE
[image]
SILVER FALCON MINING, INC.
(SFMI) ANNOUNCES ITS FIRST SALE OF BULLION DORE,
STOCK BUY-BACK INITIATED
Murphy, Id.-11-08-2011- Silver Falcon Mining, Inc.
(SFMI:OTCBB) announces
that it delivered 136 ounces of BULLION DORE to its contracted refinery,
Republic Metals Corporation, and has subsequently received payment, on this
first delivery.
The Company sent a portion of its bullion dore stockpiled to
confirm and initiate its contract with Republic.
The outlined refinery
process, the professionalism, and the price structuring were very
advantageous to SFMI.
This initial delivery will be followed by regular
shipments of stockpiled Bullion Dore.
The refinerys assays on the Bulllion Dore delivered, closely matched
SFMIs Diamond Creek assay laboratory results, with the checked assays sent
to Chris Christopherson, Inc., Kellogg, Idaho, a third-party external
laboratory that verified these Companys results.
Once verification was
certified Republic Metals Corp.
made payment to SFMI.
At present, the Company is using temporary facilities on site to smelt its
ore concentrates and produce Bullion Dore bars.
Once the secure smelting
facility is completed, and equipment and personnel permanently relocated,
information about inventories and other particulars will be reported in
SFMIs filings.
The security and well being of our employees remains a
commitment at SFMI, until then, numbers will only be presented in
forthcoming required US SEC filing reports.
To date, the Company processed approximately 9,500 tonnes of tailings to
produce 10 tonnes of concentrate containing gold/silver.
Various
modifications are being made to the mill to further improve the precious
metal recoveries and reduce water consumption.
Mill assays performed on
through-puts and concentrates revealed that further precious metal recovery
is possible.
Mill engineers have taken steps to increase recovery
percentages, furthering production values.
Commenting on the start of a revenue stream from the mill complex, SFMIs
Chief Executive Officer, Mr.
Pierre Quilliam , commented, "After 2 years of
ceaseless efforts by the officers and staff of our entire operation, we are
somewhat humbled and elated by the realization that a milestone has been
passed in the development of our Company.
Four years ago, the Company
contracted to develop 172 acres of a promising Gold and Silver extraction
venture and showing revenue already is a grand accomplishment.
The start of
revenue into our current quarter assures our shareholders that the waiting
is over and that they will be able to proudly follow our Companys fiscal
and upward progression in the quarterly and year- end reports to be filed
with the US SEC.
As mentioned in past communications, a 15% holdback from proceeds received
will be sent to SFMIs stockbroker for the purpose of buying back SFMIs
shares out of the open market and retiring them to treasury.
Shares bought
in total aggregate will be reported in subsequent US SEC filings.
As of November 2, 2011, the Companys shares where once again trading on the
OTCBB-Over the Counter Bulletin Board market.
FINRA accepted the Company
application to commence trading on the OTCBB, and SFMI would like to thank
all parties who participated in getting this application approved.
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.
SFMI cautions that statements made in press release constitute
forward-looking statements, and makes no guarantees of future performance;
actual results/developments may differ materially from projections in
forward-looking statements.
Forward-looking statements are based on
estimates and opinions of management at time statements are made.
If you have received this email in error or would like to be removed from
further notifications, send "REMOVE-SFMI" to or
call 757-306-6090
SFMI:OTCBB