|By PR Newswire||
|August 13, 2014 12:16 PM EDT||
VANCOUVER, Aug. 13, 2014 /PRNewswire/ - Santacruz Silver Mining Ltd. (TSX.V:SCZ) (the "Company" or "Santacruz") is pleased to announce the appointment of Mr. Robert Byrd to the position of Chief Operating Officer of the Company effective August 11, 2014. Mr. Byrd will report directly to the President and CEO of the Company, Mr. Arturo Préstamo.
Mr. Byrd is a Mining Engineer with more than 30 years of experience in the mining industry and most recently served as the Country Manager for Mexico with Silver Standard Resources where he was responsible for the advancement and development of the Pitarrilla deposit in Durango, Mexico. Previously, Mr. Byrd served in senior management roles in mines in the US, Central and South America as well as in southern Europe. He is a graduate in Mining Engineering from the Colorado School of Mines.
Mr. Byrd replaces Mr. Francisco Ramos, who stepped down from his position as COO to pursue other opportunities in the mining industry. Mr. Ramos will be available to the Company as a consultant in order to ensure an orderly transfer of responsibilities of this operational role to Mr. Byrd.
Mr. Arturo Préstamo stated, "We are extremely pleased to announce the appointment of Mr. Byrd as COO. Robert has a long and successful career in Latin American based mining operations with a number of successful senior silver producers. We would also like to thank Mr. Ramos for his work overseeing the construction and start up of the Rosario Mine. We look forward to our next steps as we transition from a single mine Company into a mid-tier silver producer with multiple operations in Mexico."
In connection with this appointment the Company has authorized the grant of 600,000 stock options to Mr. Byrd at a price of $0.94 per share. These options are exercisable for a five-year period.
About Santacruz Silver Mining Ltd.
Santacruz is a Mexican focused silver company with a producing mine (Rosario); two advanced-stage projects (San Felipe and Gavilanes) and an early-stage exploration project (El Gachi). The Company is managed by a technical team of professionals with proven track records in developing, operating and discovering silver mines in Mexico. Our corporate objective is to become a mid-tier silver producer.
Arturo Préstamo Elizondo,
President, Chief Executive Officer and Director
Neither the 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.
Forward looking information
Certain statements contained in this news release, such as planned production levels, grades, mine and mill development, mill recovery rates and the acquisition of mineralized material from third parties, constitute "forward-looking information" as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including, that the Company's financial condition and development plans do not change as a result of unforeseen events, that the Company obtains regulatory approval, that the Company is able to obtain material from third parties on reasonable terms, future metal prices and the demand and market outlook for metals. Based on the Company's geological model and currently known mining blocks, the Company anticipates improved silver head grades and silver recoveries. Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Factors that could cause the forward-looking information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to prove not to be valid or reliable, that occurrences such as those referred to above are realized and result in delays, or cessation in planned work, that the Company's financial condition and development plans change, delays in regulatory approval, risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits, the possibility that results will not be consistent with the Company's expectations, as well as the other risks and uncertainties applicable to mineral exploration and development activities and to the Company as set forth in the Company's Annual Information Form filed under the Company's profile at www.sedar.com. There can be no assurance that any forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader should not place any undue reliance on forward-looking information or statements. The Company undertakes no obligation to update forward-looking information or statements, other than as required by applicable law.
SOURCE SantaCruz Silver Mining Ltd.
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