|Mon May 17, 2010|
Aurcana Appoints Chief Financial Officer
|Aurcana Corporation ("Aurcana" or the "Company") is pleased to announce the appointment of Mr. Tim Thiessen, CA, as Chief Financial Officer of the Company, effective May 14, 2010. Mr. Thiessen has 12 years experience in both public accounting and the mining industry. Most recently he was VP of Finance for Endeavour Financial Ltd., an advisory firm in the mining industry, of which he was responsible for the accounting and financial reporting of several publicly listed junior mining companies. Previously he was corporate controller for Endeavour Mining Capital Corp., corporate accountant for several off-shore subsidiaries of Silver Wheaton Corp. and an auditor for Deloitte with a focus in the financial services and mining industries.|
In accordance with the terms of the policies of the TSX Venture Exchange in which options are granted to various Directors, Officers and Consultants of the Company, Aurcana has granted Mr. Thiessen 250,000 stock options at a price of $0.37 per common share.
The Options have been granted in accordance with the terms of the Company's 10% Rolling Stock Option Plan approved at the Company's Annual General Meeting held on September 18, 2009.
About Aurcana Corporation:
The Shafter Silver Mine is scheduled to start up production within 18 months of securing permits and financing, producing 3.9 million ounces silver in the first year. It has a NI 43¬101 measured and indicated resource of 24.6 million ounces of silver (2,900,000 tons at 8.48Ag opt) and an inferred resource of 22.8 million ounces of silver (2,167,000 tons at 10.52 Ag opt) using a 4.0 ounce per ton cut off. The 92% owned La Negra silver-lead-zinc-copper mine is on target to increase production to over 2 million ounces Silver Equivalent annually when expansion to 1,500 t/d, is completed by mid year. The reader should be cautioned the Company has not completed a feasibility study confirming the projected production capacity for La Negra and there is no certainty the Company's plans will be economically viable. Ron Nichols, P.Eng. a Director and Senior Vice President for Aurcana, and a Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this release.
ON BEHALF OF THE BOARD OF DIRECTORS OF
"Lenic M. Rodriguez", President and CEO
For further information, visit the website at www.aurcana.com or contact: Jack Barnes, Corporate Relations Aurcana Corporation Phone: (604) 331-9333 Toll Free: (866) 532-9333 Fax: (604) 633-9179 Email: email@example.com
Caution Regarding Forward-Looking Statements -- This news release contains certain forward-looking statements, including statements regarding the business and anticipated financial performance of the Company. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include unsuccessful exploration results, changes in metal prices, changes in the availability of funding for mineral exploration and development, unanticipated changes in key management personnel and general economic conditions. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements, oral or written, made by itself or on its behalf.
Neither the 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.
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