Silver Falcon Mining, Inc. (SFMI) Provides Update on Diamond Creek Mill Expansion
BRADENTON, FL -- (Marketwire) -- 06/27/12 -- Silver Falcon Mining, Inc. (OTCBB: SFMI) ($SFMI) provides information to its shareholders on the progression of the expansion at the Company's 100% owned Diamond Creek Mill Facility.
The steel cladding on the extended structure, 40'x 40', is almost completed and will house the recently purchased, new flotation line. This floatation circuit will extract all of the available precious metal from processed tailings on site and will result in a reduction in the quantity of the material to be leached by a factor of ten. In other words, at the end of the process, SFMI will have a quantity of 3,000 tons of high grade concentrate ready for the closed-circuit leaching process. Management remains confident in getting this closed-circuit leach processing permit within a reasonable time-frame.
The Company has begun hiring qualified personnel in various skill sets to enable SFMI to act as its own contractor at both the mill site and the various projects throughout War Eagle Mountain. This will lower the cost of future expansion needs, maintenance issues, new construction projects directly or indirectly related to the mill site and/or the ongoing exploration and forthcoming developmental needs atop War Eagle Mountain.
Management is planning SFMI's annual shareholder meeting to be held in Murphy, ID in late September. Proxy and other materials regarding this date/time will be mailed in late summer with these particulars in the ensuing weeks ahead.
Mr. Pierre Quilliam, CEO, said, "Once the precious metal, contained in our ore on site, is fully extracted, we will have amply covered the mill expenses incurred since its opening and we will be poised to carry on a profitable milling operation which will then be used to process ore from the heart of War Eagle Mountain. This whole operation will have been achieved with minimal ecological disturbance and a whole gamut of benefits for the inhabitants and taxpayers of Owyhee County. Our heliport has recently contributed to saving the life of a badly injured tourist in the area, thus fulfilling the promise we made at the time of granting of the Diamond Creek Mill occupancy permit, that 'we would strive to not only be a good neighbor, but would go above and beyond to help the people of our community.' I look forward to seeing all shareholders of record at the upcoming shareholders meeting in September."
About Silver Falcon Mining, Inc.
Silver Falcon Mining, Inc. (OTCBB: SFMI) ($SFMI) is a producer, developer and explorer of mineral resources, primarily in Owyhee County, Idaho, USA, with the objective of being a profitable, low-cost, precious metal producer and creating significant growth in shareholder value.
Further Information contact: Rich Kaiser, Investor Relations, 757-306-6090, http://www.silverfalconmining.com.
SFMI cautions that statements made in press releases constitute forward-looking statements, and makes no guarantees of future performance and actual results/developments may differ materially from projections in forward-looking statements. Forward-looking statements are based on estimates and opinions of management at time statements are made.
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Contact:
Rich Kaiser
757-306-6090