DynaResource, Inc. Reports April, 2016 Gold Production and Results of Operations at San Jose de Gracia
IRVING, TX--(Marketwired - May 12, 2016) - (OTCQB: DYNR) -- DynaResource Inc. ("DynaUSA", and "the Company") is pleased to announce that Mineras de DynaResource S.A. de C.V. ("DynaMineras"), the 100% owned subsidiary of DynaUSA and the exclusive operator of the San Jose de Gràcia Property in northern Sinaloa, México ("SJG"), is reporting the delivery for sale, on May 12, 2016, of an approximate 850 Oz gold contained in concentrates (exact weights in gold and silver oz. to be determined at final settlement).
DynaMineras further reports additional improvements were made to the pilot mill facility during April, including equipment changes which have resulted in an increase in the rate of the mill to approximately 150 tons per 24 hours. DynaMineras further reports April, 2016 production, over a period of 10 days, of an approximate total of 550 Oz gold contained in concentrates (exact weights in gold and silver oz. to be determined at final settlement). DynaMineras further reports the below summary of the 10-day pilot mill operations during April at SJG, with assays reported according to internal lab reports:
1) 1,546 Tons: Feed material processed;
2) 12.93 g/t Au: Average grade of mill feed;
3) 550 Oz Gold: Gold concentrates produced (exact weights in gold and silver Oz to be determined at final settlement of sale);
DynaMineras further reports contract mining at San Pablo mine, and test mill runs of the pilot mill facility at SJG are continuing, with an average volume output from the pilot mill facility in May of approximately 180 tonnes per 24 hours.
DynaMineras - Mine Plan and Mill Operations (Pilot Operations)
DynaMineras is conducting operations at SJG according to internally developed mine plans for San Pablo Mine (compiled by Company VP- Director of Exploration and Resource Development, Pedro I. Teran Cruz, using Surpac software), and through the internally designed SJG Pilot Mill facility (consisting of a basic gravity-flotation circuit) which was previously operated by DynaUSA during the 2003-2006 period. There is no preliminary economic assessment report completed for SJG so the precise cutoff grade for underground mining has not yet been determined. The operations are being funded internally by DynaMineras and DynaUSA, and from revenues generated from the test mining and pilot mill operations. The mine plan was developed from the block model of resources as defined in the DynaMéxico NI 43-101 Mineral Resource Estimate which was included in the DynaMéxico NI 43-101 Technical Report and filed by the Company with SEDAR; and from the analysis of underground mining works conducted in 2003-2006.
SJG Ownership DynaResource de México SA de CV ("DynaMéxico") owns 100% of the SJG Project. DynaUSA currently holds 80% of the total outstanding Capital of DynaMéxico, and, DynaUSA currently holds 100% of DynaMineras.
General Manager appointed at San Jose de Gràcia Project
On February 4, 2016 DynaUSA announced the appointment of Mr. Rene L.F. Mladosich as General Manager of the San Jose de Gràcia Project, effective February 1, 2016. (See DynaResource Inc. news release dated February 4, 2016).
On behalf of the Board of Directors,
K.D. DIEPHOLZ;
DynaResource Inc.; Chairman and CEO
IMPORTANT CAUTIONARY NOTE REGARDING CANADIAN DISCLOSURE STANDARDS
The Company is an "OTC Reporting Issuer" as that term is defined in Multilateral Instrument 51-509, Issuers Quoted in the U.S. Over-the-Counter Markets, promulgated by various Canadian Provincial Securities Commissions.
Accordingly, certain disclosure in this news release or other disclosure provided by the Company has been prepared in accordance with the requirements of securities laws in effect in Canada, which differ from the requirements of United States securities laws. In Canada, an issuer is required to provide technical information with respect to mineralization, including reserves and resources, if any, on its mineral exploration properties in accordance with Canadian requirements, which differ significantly from the requirements of the United States Securities and Exchange Commission (the "SEC") applicable to registration statements and reports filed by United States companies pursuant to the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended. As such, information contained in this news release or other disclosure provided by the Company concerning descriptions of mineralization under Canadian standards may not be comparable to similar information made public by United States companies subject to the reporting and disclosure requirements of the SEC and not subject to Canadian securities legislation. This news release or other disclosure provided by the Company may use the terms "measured mineral resources", "indicated mineral resources" and "inferred mineral resources". While these terms are recognized and required by Canadian regulations (under National Instrument 43-101, Standards of Disclosure for Mineral Projects), the SEC does not recognize them. United States investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted to reserves. In addition, "inferred mineral resources" have a great amount of uncertainty as to their existence and economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian securities legislation, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, although they may form, in certain circumstances, the basis of a "preliminary economic assessment" as that term is defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects. U.S. investors are cautioned not to assume that part or all of an inferred mineral resource exists, or is economically or legally mineable.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
This News release contains forward-looking statements within the meaning of Section 27 A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.
Certain information contained in this news release, including any information relating to future financial or operating performance may be deemed "forward-looking". All statements in this news release, other than statements of historical fact, that address events or developments that DynaResource expects to occur, are "forward-looking information". These statements relate to future events or future performance and reflect the Company's expectations regarding the future growth, results of operations, business prospects and opportunities of DynaResource. These forward-looking statements reflect the Company's current internal projections, expectations or beliefs and are based on information currently available to DynaResource. In some cases, forward-looking information can be identified by terminology such as "may", "will", "should", "expect", "intend", "plan", "anticipate", "believe", "estimate", "projects", "potential", "scheduled", "forecast", "budget" or the negative of those terms or other comparable terminology. Certain assumptions have been made regarding the Company's plans at the San Jose de Gràcia property. Many of these assumptions are based on factors and events that are not within the control of DynaResource and there is no assurance they will prove to be correct. Such factors include, without limitation: capital requirements, fluctuations in the international currency markets and in the rates of exchange of the currencies of the United States and México; price volatility in the spot and forward markets for commodities; discrepancies between actual and estimated production, between actual and estimated reserves and resources and between actual and estimated metallurgical recoveries; changes in national and local governments in any country which DynaResource currently or may in the future carry on business; taxation; controls; regulations and political or economic developments in the countries in which DynaResource does or may carry on business; the speculative nature of mineral exploration and development, including the risks of obtaining necessary licenses and permits, diminishing quantities or grades of reserves; competition; loss of key employees; additional funding requirements; actual results of current exploration or reclamation activities; changes in project parameters as plans continue to be refined; accidents; labor disputes; defective title to mineral claims or property or contests over claims to mineral properties. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion losses (and the risk of inadequate insurance or inability to obtain insurance, to cover these risks) as well as those risks referenced in the Annual Report for DynaResource available at www.sec.gov. Forward-looking information is not a guarantee of future performance and actual results and future events could differ materially from those discussed in the forward-looking information. All of the forward-looking information contained in this news release is qualified by these cautionary statements. Although DynaResource believes that the forward-looking information contained in this news release is based on reasonable assumptions, readers cannot be assured that actual results will be consistent with such statements. Accordingly, readers are cautioned against placing undue reliance on forward-looking information. DynaResource expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, events or otherwise.
For further information on DynaUSA, DynaMineras, and DynaMéxico, please visit www.dynaresource.com or contact:
Contact
CONTACT:
For further information on DynaResource Inc. please contact:
Brad J. Saulter
V.P.
Investor Relations
US Telephone: 972-868-9066
K.D. Diepholz
DynaResource de Mexico-Presidente