Aurcana files Financial Report for the 2nd Quarter ended June 30, 2007
August 30, 2007
Aurcana Corporation ("Aurcana" or the "Company") is pleased to announce that it has filed on SEDAR its unaudited financial statements and related management discussion and analysis for the three and six month period ended June 30, 2007 ("Financial Statements"). Highlights for the period are outlined below and should be read in conjunction with Aurcana's Financial Statements which are available for review at www.aurcana.com or www.sedar.com.
Highlights of the 2nd Quarter results:
- First sale of concentrates from the La Negra mine
- Completed mill refurbishment allowing 1,000 tonne per day throughput to be achieved
- C$16.5 million in cash held on deposit with major banks -- the Company has no exposure to Asset Backed Commercial paper
Ken Booth, President, commented: "The June quarter was a milestone quarter as the Company achieved its targeted mill production of 1,000 tonnes per day from the La Negra operation and completed the first sale of concentrates which the Company recorded as a reduction of expenses. The Company also continued its work at the Rosario property leading to an announcement subsequent to the end of the quarter that the Company had exercised its option to purchase 100% of the project. We are pleased to have purchased the Rosario property as it is expected to become Aurcana's second producing silver-zinc-lead property."
Aurcana is a Canadian junior mining company listed on the TSX Venture Exchange, symbol: AUN. The Company is currently in production and remains focused on the acquisition, development and operation of silver, zinc and copper mines with good infrastructure and ore reserves/resources that require minimal capital and time to re-start. Aurcana operates the La Negra silver, copper, zinc and lead mine in Querataro State, Mexico and is developing its Rosario silver, zinc, gold mine in Sinaloa State, Mexico.
ON BEHALF OF THE BOARD OF DIRECTORS OF
For further information, please contact:
Ken Booth, President
Phone: (604) 331-9333
Web site: www.aurcana.com
The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the Company. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this Release.