Aurcana Corporation ("Aurcana" or the "Company") reports 350,000 stock options at a price of $0.13 per common share in accordance with the policies of the TSX Venture Exchange (the "Options"), have been granted to a Director of the Company.
The Options have been granted to a newly appointed director in accordance with the terms of the Company's 10% rolling Stock Option Plan approved on August 22, 2008.
As an additional cost cutting measure, the Investor Relations contract announced September 2007 with Jack Barnes, has been reduced to $2,500 per month effective December 2008.
About Aurcana Corporation:
The Shafter silver mine, with a NI 43-101 measured and indicated resource of 24.6 million ounces of silver and an inferred resource of 22.8 million ounces of silver using a 4.0 ounce per ton cut off, is scheduled to start up production at 3.2 million ounces silver per year.
The 80% owned La Negra silver-lead-zinc-copper mine in Queretaro State, Mexico, is operating at 1,000 tonnes per day.
The 100% owned Rosario mine in Sinaloa State, Mexico, is an advanced stage silver-lead-zinc-gold exploration project.
Andy Nichols, P.Eng., Vice President of Operations for Aurcana, and a Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this release. The reader should be cautioned the Company has not completed feasibility studies confirming the projected production capacity for La Negra, Shafter or Rosario and there is no certainty the Company's plans will be economically viable.
ON BEHALF OF THE BOARD OF DIRECTORS OF
"Ken Booth", President
For further information, please visit the website at www.aurcana.com.
Ken Booth, President or
Jack Barnes, Investor Relations
Phone: (604) 331-9333
Toll Free: (866) 532-9333
Fax: (604) 633-9179
Caution Regarding Forward-Looking Statements -- This news release contains certain forward-looking statements, including statements regarding the business and anticipated financial performance of the Company. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include unsuccessful exploration results, changes in metal prices, changes in the availability of funding for mineral exploration and development, unanticipated changes in key management personnel and general economic conditions. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements, oral or written, made by itself or on its behalf.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this Release