VANCOUVER, British Columbia -- (Business Wire)
Telson Mining Corporation (“Telson” or the “Company”) (TSX Venture –
TSN.V, OTCBB – SOHFF, Frankfurt – TSGN (formerly SQ82)) is pleased to
announce that it has been approved for graduation from Tier 2 issuer
status to Tier 1 issuer status by the TSX Venture Exchange. Telson will
commence trading as a Tier 1 issuer on the TSX Venture Exchange on
Tuesday May 29, 2018. Tier 1 is the premier tier on the TSX Venture
Exchange and is reserved for the most advanced issuers with significant
financial resources.
Commenting on this news, Ralph Shearing, President of Telson said
“Telson’s graduation to Tier 1 of the TSX Venture Exchange is a further
demonstration of the quality of our Campo Morado and Tahuehueto projects
and of our management team. Graduating to Tier 1 status will also
provide the Company with a more favorable regulatory environment,
decreased filing requirements and increased opportunity for
participation by institutional investors. We would like to thank the TSX
Venture Exchange for recognizing Telson's rapid growth over the past
couple of years, which was demonstrated by Telson transitioning from an
exploration and development company to a producer with the declaration
of commercial production at our Campo Morado Mine effective May 15,
2018.”
About Telson Mining Corporation
Telson Mining Corporation is a Canadian based mining company with two
Mexican gold, silver and base metal mining projects.
Telson is currently in production at its 100% owned Campo Morado Mine in
Guerrero, Mexico. Telson acquired Campo Morado in June 2017,
re-commenced mining and processing operations in October 2017 with
pre-production from mine development on a trial basis that commenced at
an average 1,400 tonnes per day and has just declared commercial
production based on operating for 60 consecutive days at 75% of the
Campo Morado mill’s nameplate capacity of 2,500 tonnes per day.
Telson's Tahuehueto Project, located in north-western Durango State,
Mexico is currently in pre-production at approximately 100 tonnes per
day utilizing a toll mill for processing, and has entered a construction
phase with a timeline to be producing on site in its own mineral
processing plant capable of milling at least 1,000 tonnes per day in Q1,
2019. Regular metal concentrate delivery and sales are underway from
both projects.
Visit: www.telsonmining.com
On behalf of the board of directors
(signed) “Ralph Shearing”
Ralph Shearing, P.Geol, President and Director
Cautionary Note Regarding Production Decisions and Forward-Looking
Statements
It should be noted that Telson has declared commercial production at
Campo Morado prior to completing a feasibility study of mineral reserves
demonstrating economic and technical viability.Accordingly,
readers should be cautioned that Telson’s production decision has been
made without a comprehensive feasibility study of established reserves
such that there is greater risk and uncertainty as to future economic
results from the Campo Morado mine and a higher technical risk of
failure than would be the case if a feasibility study was completed and
relied upon to make a production decision.Telson has completed a
preliminary economic assessment (“PEA”) mining study on the Campo Morado
mine that provides a conceptual life of mine plan and a preliminary
economic analysis based on the previously identified mineral resources
(see News Release dated November 8, 2017 and April 4,2018).This
will soon be replaced by a pre-feasibility study (“PFS”) that will allow
the application of modifying factors to the mineral resources to allow a
portion of them to be converted to mineral reserves.
Statements contained in this news release that are not historical
facts are “forward-looking information” or “forward-looking statements”
(collectively, “Forward-Looking Information”) within the meaning of
applicable Canadian securities laws. Forward Looking Information
includes, but is not limited to, disclosure regarding possible events,
conditions or financial performance that is based on assumptions about
future economic conditions and courses of action; the timing and costs
of future activities on the Company’s properties, such as production
rates and increases; success of exploration, development and bulk sample
processing activities and timing for processing at its own mineral
processing facility on the Tahuehueto project site. In certain cases,
Forward-Looking Information can be identified by the use of words and
phrases such as “plans”, “expects”, “scheduled”, “estimates”,
“forecasts”, “intends”, “anticipates” or variations of such words and
phrases. In preparing the Forward-Looking Information in this news
release, the Company has applied several material assumptions,
including, but not limited to, that the current exploration,
development, environmental and other objectives concerning the Campo
Morado Mine and the Tahuehueto Project can be achieved, the continuity
of the price of gold, zinc, lead and other metals, economic and
political conditions and operations. Forward-Looking Information
involves known and unknown risks, uncertainties and other factors which
may cause the actual results, performance or achievements of the Company
to be materially different from any future results, performance or
achievements expressed or implied by the Forward-Looking Information.
There can be no assurance that Forward-Looking Information will prove to
be accurate, as actual results and future events could differ materially
from those anticipated in such statements. Accordingly, readers should
not place undue reliance on Forward-Looking Information. Except as
required by law, the Company does not assume any obligation to release
publicly any revisions to Forward-Looking Information contained in this
news release to reflect events or circumstances after the date hereof or
to reflect the occurrence of unanticipated events.
Neither 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180528005031/en/
Contacts:
Telson Mining Corporation:
Glen Sandwell, +1 (604) 684-8071
Corporate
Communications Manager
ir@telsonmining.com
Source: Telson Mining Corporation
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