🕐26.06.14 - 10:54 Uhr

BLACK MOUNTAIN RESOURCES - FURTHER CHANNEL SAMPLING COMPLETED AT NEW DEPARTURE S
ILVER MINE, MONTANA USA - PREVIOUS BONANZA GRADES UP TO 5,194G/T RECEIVED



Black Mountain Resources Ltd Channel Sampling Update at New Departure Silver Mine, Montana Black Mountain Resources Limited (ASX | AIM: BMZ), the silver focused development company with interests in the US, is pleased to announce an update on its New Departure Silver Mine in Montana. In the last week, approximately 118 channel samples (varying from 30cm to 2m) have been taken from the New Departure mine, 48 from the Blue Dot Level, where samples last year returned high silver grades up to 5,194g/t.

These new samples, which are being collected in line with the Company’s strategy to complete its 3‐D mine model, have been shipped to a laboratory in Nevada with results expected in the coming weeks. Encouragingly, the Company’s lead geologist at New Departure was able to identify some clear sulphides on the main haulage level, and was also encouraged by the samples taken from the Blue Dot Level.

The Blue Dot Level will access both the Bonanza Zone and Main Zone historical mining blocks at New Departure and will form a key part of production from the mine moving forward. Black Mountain Chairman, Pete Landau, said: “Activity is increasing at New Departure as we tick off the remaining milestones prior to commencing production at our first of two high grade silver mines in the US.

The only outstanding operational hurdles are the receipt of further results from metallurgical testwork and the confirmation of the toll treat agreement with a local mill.

The results of these channel samples will further solidify our mine planning in the coming weeks and, upon the finalisation of additional financing, we will be in a strong position to put our high grade, low cost production model into gear with a view to creating significant value for shareholders We are pleased to see the recent upticks in precious metal prices and believe that investor interest is returning to the sector.

We feel we are in a strong position in an upcoming renewed positive precious metals cycle.”
[cid:image006.png@01CF9122.9D559160]
Figure 1: New Departure Mine ‐ Mineral Zones ‐ Proposed Sample Plan [cid:image007.png@01CF9122.9D559160]
Figure 2: New Departure 3‐D Mine Model
For and on behalf of the Board Peter Landau Executive Director
For further information please visit www.blackmountainresources.com.au or contact: Black Mountain Resources Limited Shannon Robinson Executive Director | Corporate Relations E: T: +61 (8) 9488 5220
Black Mountain Resources Limited Eva Bezruchko Investor Relations E: T: +44 (0) 207 025 7040
Media (Australia) PPR David Tasker T: +61 (8) 9388 0944
Media (UK) St Brides Media & Finance Limited Elisabeth Cowell T: +44 (0) 207 236 1177
Joint Broker (UK) Westhouse Securities Limited Martin Davison T: +44 (0) 207 601 6100 Nominated Advisor (UK) RFC Ambrian Limited Stuart Laing T: +61 (8) 9480 2500 Joint Broker (UK) Xcap Securities Jon Belliss T: +44 (0) 203 693 1493
About Black Mountain Resources Limited Black Mountain Resources Limited is a dual listed (ASX | AIM: BMZ) silver and gold focused development company focussed on the advancement of three highly prospective previously operating assets located in two of the world’s most developed and proven silver and gold mining regions of Idaho and Montana, USA. The Company holds a 70% interest in the New Departure Silver Project, the Conjecture Silver Project and the Tabor Gold and Silver Project pursuant to 45 year leases from Chester Mining Company, Lucky Friday Extension Mining Company and Brush Prairie Minerals respectively.

Black Mountain plans to implement low cost production and development programmes across all three assets.

It is also implementing exploration programmes to capitalise on the exploration upside potential apparent across its portfolio. Black Mountain Resources Limited was incorporated on 29 October 2010 and is listed on the Australian Securities Exchange (ASX) and London’s AIM Market - trading codes BMZ and BMZO.
Forward Looking Statement Certain statements made during or in connection with this communication, including, without limitation, those concerning the economic outlook for the silver market, expectations regarding silver ore prices, production, cash costs and other operating results growth prospects and the outlook of the Company’s operations including the likely commencement of commercial operations of the New Departure and Conjecture Silver Projects, its liquidity and the capital resources and expenditure, contain or comprise certain forward-looking statements regarding the Companys development and exploration operations economic performance and financial condition.

Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct.

Accordingly, results could differ materially from those set out in the forward-looking statements as a result of, among other factors, changes in economic and market conditions, success of business and operating initiatives, changes in the regulatory environment and other government actions, fluctuations in silver ore prices and exchange rates and business and operational risk management.

For a discussion of such factors refer to the Companys most recent annual report and half year report.

The Company undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after todays date or to reflect the occurrence of unanticipated events.
[cid:image002.png@01CECBDD.61F8A860] Elisabeth Cowell St Brides Media & Finance Ltd 3 St Michael’s Alley, London, EC3V 9DS www.stbridesmedia.co.uk Tel: 0207 236 1177 | Mob: 07900248213 | Twitter: @StBrides1



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