🕐19.02.13 - 11:27 Uhr

BLACK MOUNTAIN RESOURCES - SETTLEMENT OF LAKEVIEW MILL TO PROCESS HIGH GRADE SIL
VER ORE FROM CONJECTURE IN Q2 2013



19 February 2013 Black Mountain Resources Settlement of Lakeview Mill and the Weber Pit Black Mountain Resources Limited (ASX | AIM: BMZ), the silver focused development company with interests in the USA, is pleased to advise that it has settled its exclusive long term (45 year) lease over the Lakeview Mill and its acquisition of the historic Weber Silver Mine and Keep Cool Silver Mine claims.

In consideration of the acquisition, the Company has issued 11 million ordinary shares to Shoshone Silver / Gold Mining Corporation. The Company recently upgraded the facilities at the Lakeview Mill and its key items, including an additional ball crusher and flotation circuit, and the mill is now capable of processing over 300 tonnes of ore per day.

The mill will be used to process ore mined from the Companys Conjecture Silver Mine in Idaho following targeted first production in Q2 2013.

Black Mountain intends to use the Weber Pit for waste disposal from the Conjecture Silver Mine.

In addition the Company intends to undertake initial geological and geophysical work over the two historic assets acquired, in particular targeting the intersection of the Conjecture and Weber shear zones to identify further drill targets as part of the exploration programme planned for Q2/Q3 2013. Black Mountain Executive Chairman, Peter Landau, commented, "Having completed the acquisition of the Lakeview Mill, which would cost over US$8 million to replace and a minimum of two years to permit, Black Mountain is ideally positioned to commence high grade silver production from the historic Conjecture Silver Mine in Idaho in Q2 2013.

As the only permitted mill in the region, and with a processing capacity of 300 tonnes per day, this is a highly strategic addition to our portfolio and will meet our production requirements going forward.

Also, the addition of further mining claims provides the Company with exposure to exploration upside potential and a waste alternative for our Conjecture project." Application will be made for the new shares to be admitted to trading on the ASX and AIM markets, with the new shares expected to commence trading on the AIM market on or about 25 February 2013. The Company advises that further to the announcement dated 6 February 2013, 2,475,000 fully paid ordinary shares and 2,000,000 unlisted options ($0.30; 14 November 2015) have been released from escrow in accordance with the ASX Listing Rules. [cid:image001.png@01CE0E89.18734900]



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