Rochester Resources Ltd.

Rochester Resources Ltd.

May 04, 2010 08:00 ET

Rochester Reports Third Quarter 2010 Operating Results

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 4, 2010) - Rochester Resources Ltd. (TSX VENTURE:RCT)(FRANKFURT:R5I) is pleased to announce financial results for the third quarter ended February 28th, 2010 and provide a summary of its recent exploration and development activities in Mexico.

The Company realized net revenue of $1,907,094 on 476.05 ounces of gold and 88,128.62 ounces of silver sold during the three months ended Feb. 28, 2010 (the 2010 third quarter), and generated an operating profit of $233,035 before non-cash charges for depletion and amortization of $250,780 and accretion of reclamation obligation of $17,242.

The Company is currently processing an average of 198 tonnes a day and is continuing to work towards ramping up to 300 tpd later this year. A total of 15,433 tonnes were processed for the quarter ended February 28, 2010. During the quarter head grades averaged 1.17 g/t gold and 294 g/t silver. Recovery rates for gold were 83.5 percent, and 62 percent for silver.

At current prices for both metals, a total of 1,873 ounces of gold equivalent were produced, a 0.54 percent increase over the previous quarter's production. Silver grades were in line with expectations and projections however gold grades were below expectations. The gold grade achieved in the last quarter was 1.17 g/t gold whereas projection was for 1.94 g/t gold.

During the month of March 2010, 6,135 tonnes were milled with an average grade of 1.68 g/t gold and 241 g/t silver. Subsequent to quarter end recoveries of gold and silver showed additional improvements. Silver recoveries were approximately 70% for the month of March 2010 and 76% through April 26, 2010. Gold recoveries were approximately 90% for the month of March through April 26, 2010.

Mine Operations and Development

Mine production in Q3 was focused at the Tajos Cuates Mine. The Company mined 13,071 tonnes sourced from several different levels. The average grade of the material delivered to the mill was 1.75 g/t of gold and 391.37 g/t of silver.

Development projects at Macedo and Florida 1240 were restarted during the reported quarter, resulting in 61% of total development in the quarter allocated to exploration and mine infrastructure projects.

Exploration and development work at Macedo during the reported quarter generated positive results. During the period, a new mineralized body was identified for possible future development with estimated grades averaging 3.16 g/t gold and 108 g/t silver over a 1.43 metre width.

**Note that these assay results are from the Company's in-house assay lab and while management is confident of the lab procedures, the data is subject to on-going third party checks and verification. The Company is in the process of up-grading the mine laboratory based on recommendations made in a report by SGS in January 2010.

Drift development in Q3 increased 9.98% over the previous quarter. Of the total drift development during the quarter, 61% was allocated to exploration and infrastructure projects, showing an increase of 14% over the previous quarter.

During the reported quarter, 5.4 km of access roads to drilling locations and 12 drilling platforms were constructed.

Exploration and Development

As at February 28, 2010, 436 metres of drilling had been completed. Two drill holes, FNW-01 and FNW-02, have been completed and two more are in progress. It is planned to use a total of three rigs for the surface drilling and one for underground drilling. Assay results are pending and will be released once received, verified and evaluated.

The drill program at Florida NW area will drill test 13 veins identified on surface up to 1.5 kilometres in length to the northwest of the intrusive at the Florida Mine. These veins are oriented parallel to the Florida Mine and previous surface work supports continuity of the vein system to the northwest of the post-mineral intrusive.

Concurrently, the development of a crosscut at Florida NW which is now underway. The crosscut of 300m is at the 1240 elevation and will cut the continuity of the mineralized zones of the Florida I, II and III, northwest from the intrusive. The crosscut will provide underground access to the 13 veins identified at surface. This is part of the overall mine infrastructure plan of developing over 2.5km in three areas; Crosscut – Florida NW, Footwall drift at level 1240, and the San Eduardo Tunnel.

Mr. Alfredo Parra, a QP as defined under NI 43-101 has reviewed and approved the technical disclosure herein.


Eduardo Luna, President and CEO

About Rochester Resources Ltd.

Rochester represents a pure-play in the exploration and development of high-grade gold and silver properties located in Nayarit, Mexico. The Company is a niche player in Mexico which has assembled an attractive portfolio of properties in the Sierra Madre Occidental Range. This is the largest epithermal precious metal region in the world, hosting the majority of Mexico's large tonnage gold and silver deposits. Current production helps generate cash flow and helps fund our ongoing exploration and development. Rochester is well positioned to advance its Projects and can very quickly become a significant player in Mexico. Rochester has a strong senior management team based in Mexico, a workforce in place to advance its projects through to mine development, and strong financial backing to implement and advance our work programs.

Forward Looking Statements

This Company Press Release contains certain "forward-looking" statements and information relating to the Company that are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, competitive factors, general economic conditions, customer relations, relationships with vendors and strategic partners, the interest rate environment, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events. In addition, the Company has not conducted an independent feasibility study on the Mina Real project which may increase the risk that the planned operations are not economically viable. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein.

Neither 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.

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