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Shipments of ore from the McGarry gold mine to mill for processing have
commenced
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Rebuild and maintenance of McGarry mine's hoist system completed;
hoisting from mine resumes
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Company productively used time during hoist system rebuild to complete
various important planned maintenance and construction projects
TORONTO, April 16, 2012 /CNW/ - Armistice Resources Corp. (TSX: AZ),
which began hoisting and stockpiling in December 2011 at its McGarry
gold mine in Ontario's Kirkland Lake area, today announced that it has
begun shipments of ore from the mine to a mill for processing.
After receiving bids from a number of local haulage companies, Armistice
has signed a contract with James Lathem Excavating Limited for trucking
ore from the McGarry mine to the McAlpine Mill, near Cobalt, Ontario,
for processing. On March 6, 2012, Armistice announced that it had
signed a custom milling contract with SMC (Canada) Limited for
processing ore at its McAlpine Mill. The contract covers processing of
the first 30,000 tons of ore to be delivered from the McGarry gold
mine.
"We have previously brought sufficient ore to surface at the McGarry
property," said Todd. J. Morgan, president and chief executive officer,
"so that with the signing of this trucking contract we were able to
commence immediately a steady rate of shipments initially from
pre-production activities and then from production stopes for
processing at the mill and that will lead to our initiating our first
sales of gold.
"I also am pleased to report that we have resumed hoisting operations at
the McGarry mine. As we reported on March 20, 2012, we proceeded with
rebuilding and maintenance work on the hoist system. We have completed
the refurbishing of both hoist motors and the associated
motor-generator set, and have now placed the system back into
operation. This means a full resumption of underground work in the
mine, including bringing ore to the surface.
"We have used the past few weeks very productively, completing a number
of essential projects that had been planned. In particular, we made
modifications to the headframe required for double skipping; we
completed the construction of a temporary headframe on surface at the
vent raise for the installation of escapeway ladders to the 1250 Level;
we overhauled major surface mobile and stationary equipment; we
improved and relocated various surface storage facilities; and we
engaged a number of employees in essential training programs," Mr.
Morgan added.
Qualified Person
Erik Andersen, P.Eng., Vice-President and Chief Operating Officer of
Armistice Resources and a Qualified Person as defined by National
Instrument 43-101, has reviewed and approved this news release.
About Armistice Resources Corp.
Armistice Resources, a Canadian-based exploration and development
company, began hoisting and stockpiling operations in December 2011
from its McGarry gold mine in the Kirkland Lake area of northeastern
Ontario. The McGarry Mine is located in Virginiatown on the prolific
Larder Lake-Cadillac Break that extends 200 km east-west straddling the
Ontario and Quebec border and that has produced 95 million ounces of
gold. The McGarry Mine is adjacent to the Kerr-Addison Gold Mine that
has produced more than 11 million ounces of gold. Armistice has signed
a definitive five-year option agreement for the purchase of up to 100
percent of the mineral rights on the Kerr-Addison property. The McGarry
Mine consists of 33 contiguous patented mining claims, including three
licenses of occupation, totaling 484 hectares. The McGarry Mine is
fully permitted and all equipment and systems at the site have been
brought up to standards, including its installed mining plant.
Armistice Resources is listed on the Toronto Stock Exchange (Symbol:
AZ) and currently has 185,810,971 common shares issued and outstanding.
To find out more about Armistice Resources, please visit the company's
website at www.armistice.ca.
Forward-Looking Statements
This news release contains forward-looking statements, including current
expectations on the timing of the commencement of production and the
rate of production, if commenced. These forward-looking statements
entail various risks and uncertainties that could cause actual results
to differ materially from those reflected in these forward-looking
statements. Such statements are based on current expectations, are
subject to a number of uncertainties and risks, and actual results may
differ materially from those contained in such statements. These
uncertainties and risks include, but are not limited to, the strength
of the Canadian economy; the price of gold; operational, funding, and
liquidity risks; the degree to which mineral resource estimates are
reflective of actual mineral resources; and the degree to which factors
which would make a mineral deposit commercially viable are present; the
risks and hazards associated with underground operations. Risks and
uncertainties about Armistice Resources' business are more fully
discussed in the company's disclosure materials, including its annual
information form and MD&A, filed with the securities regulatory
authorities in Canada and available at www.sedar.com and readers are
urged to read these materials. Armistice Resources assumes no
obligation to update any forward-looking statement or to update the
reasons why actual results could differ from such statements unless
required by law.
<p> President, CEO and Chairman<br/> Todd J. Morgan<br/> Armistice Resources Corp.<br/> Email: <a href="mailto:info@armistice.ca">info@armistice.ca</a><br/> (705) 567-4567 </p> <p> Investor and Media Relations<br/> Richard W. Wertheim<br/> Wertheim + Company Inc.<br/> Email: <a href="mailto:wertheim@wertheim.ca">wertheim@wertheim.ca</a><br/> 416-594-1600 ext. 223<br/> 416-518-8479 (cell) </p>