Marlin Gold Ships 10,121 Ounces Gold in January at US$290 per Ounce Total Costs at La Trinidad

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VANCOUVER, Feb. 6, 2017 /CNW/ - Marlin Gold Mining Ltd. (TSX-V: MLN) ("Marlin" or the "Company")  is pleased to provide an operating update from its wholly owned La Trinidad mine in Sinaloa, Mexico ("La Trinidad").

Since September 15, 2016, when Marlin began consistently mining the high grade HS Zone, the Company has stacked 66,923 ounces of gold with 7,447 coming in January alone.  The tonnes stacked in January had an average grade of approximately 1.87 grams per tonne.  In addition, Marlin has built up an approximately 485,000-tonne stockpile of mineralized material with an average grade of approximately 1.37 grams per tonne.  Management expects to process grades similar to the average stockpile grade as we accelerate mining to reach the southern part of the high grade HS Zone by the third quarter of this year.

The recoveries of gold from the leach pad are approaching a steady state and averaged 231 ounces per day in January.  With the processing of our current stockpile, and accelerated southern HS Zone mine plan, management now expects consistent operating cash flow for at least the next two full years, confirming what was estimated by the 2nd Amended NI 43-101 Technical Report dated February 1, 2013 prepared by SRK Consulting.  A detailed operating update will be provided in conjunction with filing our audited financials in April.

Gold shipments in January reached a new monthly record at 10,121 ounces.  Total costs per ounce shipped will be below US$290 for January.  As we accelerate mining to reach the southern part of the high grade HS Zone, costs will be commensurately higher than the previous US$2.25-2.5 million monthly cost estimate.  All-in mining costs, including drilling, loading, blasting, hauling, diesel and explosives are approximately US$1.70 per tonne.

A drill contractor has been at site since early December to follow up on the high-grade blast-hole assays from the negative two level bench and below in the north side pit wall.  A 12-hole drill program will help quantify how much mineralization exists to the north, which will determine whether a north side layback is warranted.  Initial results from this drill program are expected later this month.

Marlin's cash and refined gold stands at approximately $7.3 million with a payable balance of approximately $7.0 million. This does not include Marlin's $10.7 million in shares of Golden Reign Resources Ltd., or over 30,000 ounces of recoverable gold on the leach pad and in stockpile.

The table below highlight key statistics at La Trinidad since September 2016.

La Trinidad Operating Update February 2017 Conference Call and Webcast

The Company's senior management will host a conference call on Tuesday, February 7, 2017 at 10:00 AM (E.S.T.) to discuss the Company's operating results at La Trinidad for the month of January and recent exploration results at the Commonwealth silver and gold project in Cochise County, Arizona.

Via Webcast:

A live audio webcast of the conference call will be available using the following link http://edge.media-server.com/m/p/e8dxf2p7 or on a link hosted on the Company's website at www.marlingold.com.

Via Telephone:

For those preferring to listen by telephone, please dial 1-213-358-0878 or toll-free 1-844-348-1683, access code 67337538.  To ensure your participation, please call approximately ten minutes prior to the scheduled start of the call.

Replay Archive:

Please dial 1-404-537-3406 or toll-free 1-855-859-2056, access code 67337538.  The conference call replay will expire on February 14, 2017.

The webcast, along with presentation slides, will be archived for 180 days on the Company's website.

About Marlin Gold

Marlin is a publicly-traded gold and silver mining company with properties located in Sinaloa, Mexico and Arizona, USA. Marlin's priority is to advance its properties toward commercial production and enhance shareholder value through the growth of its wholly owned subsidiary, Sailfish Royalty Corp. The La Trinidad property in Sinaloa, Mexico, declared commercial production on November 1, 2014. A NI 43-101 mineral resource estimate and preliminary economic assessment for the La Trinidad mine and Commonwealth project can be found at www.sedar.com or at www.marlingold.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary statement regarding forward?looking information

This news release contains 'forward-looking statements' within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by words such as the following: expects, plans, anticipates, believes, intends, estimates, projects, assumes, potential and similar expressions. Forward-looking statements also include reference to events or conditions that will, would, may, could or should occur, including, without limitation, the intended use of proceeds. These forward-looking statements are necessarily based upon a number of estimates and assumptions that, while based on management's expectations and considered reasonable at the time they are made, are inherently subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: the risk that the anticipated effects of the equity financing may not result in the outcomes predicted by management, uncertainties related to raising sufficient financing to fund planned work in a timely manner and on acceptable terms; changes in planned work resulting from logistical, technical or other factors; the possibility that results of work will not fulfill projections/expectations and realize the perceived potential of the Company's projects; uncertainties involved in the interpretation of drilling results and other tests and the estimation of gold resources; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of environmental issues at the Company's projects; the possibility of cost overruns or unanticipated expenses in work programs; the need to obtain permits and comply with environmental laws and regulations and other government requirements; fluctuations in the price of gold and other risks and uncertainties, including those described in the Company's current Annual Information Form filed on SEDAR at www.sedar.com. As a result, readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements contained in this news release are made as of the date of this release. Unless required by law, Marlin has no intention to and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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SOURCE Marlin Gold Mining Ltd.