AURYN Mining Corporation Shareholder Update
AURYN Mining Corporation (OTC: AUMC) is committed to keeping our shareholders informed with the most current updates on our progress and strategic initiatives. As we step into the first quarter of 2025, we wish to share significant developments and our forward-looking approach to our mining and exploration activities.
ACCOMPLISHMENTS
Fortuna Operations
During this quarter, operations at our Fortuna site have continued and concluded as follows:
- Completion of New Mining Camp: Our new mining camp at Fortuna is complete. As previously announced, the camp has sufficient capacity for our entire operational workforce, provides accommodation for our management team, and can host academic missions. It is equipped with solar panels, ensuring clean and sustainable electricity. This setup has enabled us to connect our mining site to the internet via Starlink, ensuring connectivity, communication, surveillance, and monitoring of our operations and personnel.
- Antonino Tunnel Operations: The mining plan has been designed to optimize production by extracting ore from the Don Luis Vein, which is the primary target, and accumulating ore for future processing.
Mining Plan Developments
In December, the Chilean Mining Authority (SERNAGEOMIN), under the Chilean statute for Small Mining Producers, extended a new operating permit for our “La Fortuna de Lampa” project, currently in operation. This permit allows an exploitation rate of up to 1,000 tons per month, sufficient for operations in Antonino.
Our exploration team has identified two additional areas for new ore extraction points, aiming to incorporate monthly quantities similar to Antonino. This strategy will generate the critical mass and ore stock necessary to ensure continuous operation of our flotation plant. The additional exploitation points will be linked to the Merlin 1 vein, as indicated in the accompanying tentative location plan.
The exploitation projects for these two new points, each with an extraction capacity of 1,000 tons per month, will be submitted to SERNAGEOMIN for approval during January 2025.
Additionally, as we plan to expand and intensify our operations in the Lipangue Mining District, we have initiated a project for the repair, improvement, and permanent maintenance of the district’s access road. This effort aims to maintain high safety and quality standards, minimizing operational downtime due to adverse weather conditions.
On-Site Flotation Plant
The engineering and construction project for the plant is in full swing. While the basic components of the flotation plant are being manufactured, we are commissioning the fabrication of other individual units and completing the project’s technical dossier for submission to SERNAGEOMIN in January 2025.
Civil works for the preparation and construction of the plant will also commence in January 2025.
Based on current progress, we estimate that the plant will be operational and have the necessary permits by the third quarter of 2025.
For further details and to stay up-to-date with AURYN Mining Corporation’s activities, please visit our website and subscribe to email notifications.
We appreciate your continued support and confidence in AURYN Mining Corporation.
Submitted on behalf of the Board of Directors.
Forward-Looking Statements
This news release contains certain forward-looking statements within the meaning of the United States Securities Exchange Act of 1934, as amended. This forward-looking information includes, or may be based upon estimates, forecasts and statements of management’s expectations with respect to, among other things, the completion of transactions, the issuance of permits, the size and quality of mineral resources, future trends for the company, progress in development of mineral properties, future production and sales volumes, capital costs, mine production costs, demand and market outlook for metals, future metal prices and treatment and refining or milling charges, the outcome of legal proceedings, the timing of exploration, development and mining activities, acquisition of shares in other companies and the financial results of the company. There can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially and substantially from those anticipated in such statements. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Inferred mineral resources are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that mineral resources will be converted into mineral reserves.
Contact Information
Auryn Mining Corporation
https://aurynminingcorp.com/
ir@aurynminingcorp.com