🕐29.05.13 - 16:54 Uhr
STRATABOUND REVENUE UPDATE
?l
N E W S R E L E A S E
SB: TSX Venture Exchange Issued:
75,887,611 shares
Stratabound Revenue Update
Calgary, May 29, 2013 - Stratabound Minerals Corp.
(TSX.V:SB) is pleased to
announce that it has received a provisional payment of $6,094,667 (CDN) from
Xstrata Zinc for concentrates produced from lead-zinc-silver-gold-copper ore
delivered from Stratabounds Captain North Extension (CNE) Mine to Xstratas
Brunswick mill for custom processing in April 2013.
Based on April 2013 metal prices and exchange rates, this amount represents
80% of the total revenue to be received by Stratabound.
Final settlement
will be based on average metal prices and exchange rates for the month of
June 2013.
Milling and marketing fees of $1,934,695 (CDN) were paid in full to Xstrata.
Provisional revenue received net of these fees was $4,159,972.
A total of 62,720 dry metric tonnes (DMT) was milled at an average grade of
8.13% zinc, 3.22% lead, and 111 g/t silver producing 6,239 DMT of zinc
concentrate grading 54.55% zinc; 2,122 DMT of lead concentrate grading
41.51% lead and 919 g/t silver; 1,541 DMT of bulk concentrate with 42.21%
zinc, 16.27% lead, and 491 g/t silver; and 50 DMT of copper concentrate
grading 12.41% copper and 2,436 g/t silver.
Payable metals in concentrates were 7,540,148 lbs zinc; 2,251,257 lbs lead;
75,513 oz silver, 12,462 lbs copper; and 144 oz gold.
These payable amounts
were subject to standard smelter charges and concentrate freight, handling
and financing charges by Xstrata.
A $1,400,000 production loan announced in a news release dated November 21,
2012 has been repaid, and Stratabound anticipates that an $850,000 loan that
was used to post reclamation bonds will be repaid on the due date, June 30,
2013.
The technical information contained in this release has been reviewed by
Stan Stricker, P.Geol., a Qualified Person as defined in National Instrument
43-101.
For further information contact:
Stan Stricker, P.
Geol, President
403-258-3630, ,
www.stratabound.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
WARNING: the Company relies upon litigation protection for "forward looking"
statements.
The information in this release may contain forward-looking
information under applicable securities laws.
This forward-looking
information is subject to known and unknown risks, uncertainties and other
factors that may cause actual results to differ materially from those
implied by the forward-looking information.
Factors that may cause actual
results to vary materially include, but are not limited to, inaccurate
assumptions concerning the exploration for and development of mineral
deposits, currency fluctuations, unanticipated operational or technical
difficulties, changes in laws or regulations, the risks of obtaining
necessary licenses and permits, changes in general economic conditions or
conditions in the financial markets and the inability to raise additional
financing.
Readers are cautioned not to place undue reliance on this
forward-looking information.
The Company does not assume the obligation to
revise or update this forward-looking information after the date of this
release or to revise such information to reflect the occurrence of future
unanticipated events, except as may be required under applicable securities
laws.