Genco Resources Ltd.
TSX : GGC

Genco Resources Ltd.

August 14, 2009 19:47 ET

Genco Reports Results for Second Quarter

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 14, 2009) - Genco Resources Ltd. (TSX:GGC) reports results for its second financial quarter ended June 30, 2009.

Genco's net income for the quarter ended June 30, 2009 was $203,436, compared with a net loss of $1,023,013 for the quarter ended June 30, 2008. Income for the period was attributable to currency gains and interest income.

During the quarter ended June 30, 2009, Genco did not record any production or sale at its La Guitarra Mine. La Guitarra remains closed as the result of an illegal roadblock on the public road leading to the mine site. Representatives of La Guitarra continue to work with state and local officials, as well as local community leaders, to remove the roadblock and resolve the mine access issue. Genco is confident that access to La Guitarra will be restored and production will resume at La Guitarra, but cannot predict with certainty when this will occur. Genco has maintained continuous security on-site at La Guitarra during the mine closure and does not believe there will be any significant problems re-initiating production once site access is restored.

Genco's MD&A and full financial statements are available on SEDAR at www.sedar.com and on Genco's corporate website at www.gencoresources.com.

About Genco Resources Ltd.

Genco's core asset is the producing La Guitarra silver-gold mine, located in the Temascaltepec Mining District of Mexico. La Guitarra Mine currently consists of two underground operation centres - La Guitarra and San Rafael - and a flotation mill with a proven capacity of 320 tonnes per day. Genco believes significant potential exists to expand production within the 39,714 hectares of mining concessions it currently owns or leases in the Temascaltepec Mining District.

This news release may contain certain forward-looking statements that involve risks and uncertainties such as statements of the Company's plans, objectives, strategies, expectations, and intentions. The words "may", "would", "could", "will", "intend", "plan", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Many factors could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including those factors discussed below and in filings made with the Canadian securities regulatory authorities. Should one or more of these risk factors or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. The Company does not intend, and does not assume any obligation to update these forward-looking statements.

The Toronto Stock Exchange has not reviewed the contents of this release and does not accept responsibility for the accuracy of the contents of this release.

Contact Information

  • Genco Resources Ltd.
    Wayne Moorhouse
    Chief Financial Officer
    604-682-2205
    604-682-2235 (FAX)
    wmoorhousegencoresources.com
    www.gencoresources.com