Huldra Silver Provides Update on Milling and Mining Operations
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/26/13 -- Huldra Silver Inc. ("Huldra" or the "Company") (TSX VENTURE: HDA) announces that, as of June 25, 2013, it has commenced the process of putting its mine and mill on care and maintenance. The Company has suspended operations in order to minimize cash obligations. As announced in its June 24, 2013 news release, the Company had already temporarily suspended milling operations a few days prior to a planned maintenance procedure in order to install previously purchased rubber ball mill liners.
Mining operations were put into care and maintenance on June 25, 2013 due to market factors. The Company was currently mining Stopes 2 and 5, but, without additional liquidity, is unable to adequately fund both mining at Treasure Mountain and transportation to its processing mill.
Huldra will continue to pursue financing options in order to recommence operations at both the mine and mill.
On behalf of the Board of Directors
Ryan Sharp, MBA, President, CEO & Director
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.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect management's expectations regarding the continued operations, results of operations, performance and business prospects and opportunities of the Company, including statements related to obtaining additional financing. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain assumptions and speak only as of the date of this release. These assumptions, which include management's current expectations, estimates and assumptions about the Company's ability to raise the necessary financing to continue its operations, the market price and demand for silver and other minerals, may prove to be incorrect.
A number of risks and uncertainties could cause the Company's actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) a downturn in general economic conditions, (2) a decreased demand for or a sustained decease in the price of silver and other minerals, (3) delays in the timelines with respect to the Company's projects, (4) unexpected difficulties with the milling and the extraction of minerals from the Company's projects including that such minerals may not be economically mined and extracted, (5) unexpected interruptions and problems encountered in the operation of the milling facility, (6) factors that delay or cause difficulties in timing of shipments of concentrates by the Company, (7) inability to locate and acquire additional property interests, (8) the uncertainty of government regulation and politics in British Columbia regarding mining and mineral exploration, (9) potential negative financial impact from regulatory investigations, claims, lawsuits and other legal proceedings and challenges, (10) inability to secure financing to enable the Company to meet its business objectives and continuing operations, and (11) other factors beyond the Company's control. There is a significant risk that such forward-looking statements will not prove to be accurate. Investors are cautioned not to place undue reliance on these forward-looking statements. No forward-looking statement is a guarantee of future results. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Additional information about assumptions, risks and uncertainties are set out in the section entitled "Risk Factors" in the Company's MD&A filed on SEDAR at www.sedar.com.
Contacts:
Huldra Silver Inc.
Ryan Sharp
604-647-0142
ryan@huldrasilver.com
IR@huldrasilver.com