Contact Information: Website: www.TaraMinerals.com Francis Biscan Jr. Phone: (630) 462-2079
Tara Minerals Provides Corporate Update
| Source: Tara Minerals Corp.
CHICAGO, IL--(Marketwire - January 15, 2010) - Tara Minerals Corp. (OTCBB : TARM ) (BERLIN : 6T3 ), a subsidiary of Tara Gold Resources Corp. (PINKSHEETS : TRGD )
(FRANKFURT : T8N ), is pleased to provide the following corporate update as
it nears a key corporate milestone -- cash flow from Silver, Zinc, and Lead
production.
Tara Minerals Corp. has positioned itself to generate cash from the sale of
Silver, Zinc, and Lead concentrate from its producing Don Roman mine and
mill, located in Choix, Mexico. Management is focused on creating
long-term shareholder value as this capital is deployed to increase
throughput, enhance resources, further outline new discoveries/targets, and
acquire additional strategic assets. Tara's strength in recognizing value
early and strategy of reducing risk through a foundation of cash flow,
positions it for low-risk value creation. Specific project updates are
provided below.
Don Roman and Lourdes -- Mine and Mill
Tara Minerals is currently producing silver, zinc, and lead concentrate
from its 100% owned Don Roman project. Past and current results indicate
average grades of 309 grams per tonne silver, 9% zinc, and 3% lead. The
mill is operating at 240 tonnes per day and this is expected to increase to
480 tonnes per day by Q2 2010. Concentrate revenue per tonne, after
operating costs, is estimated at $200+ per tonne. Tara has secured a
long-term sales agreement with Glencore International for the purchase of
its lead/silver and zinc concentrate.
San Felipe -- New Gold and Silver Discovery
A significant gold and silver quartz vein has been discovered 1.5 kms
southeast of the Don Roman mine and mill. Recent channel samples returned
an average grade of 10.06 grams per tonne gold and 149.85 grams per tonne
silver. The structure has a known strike length of approximately 850 meters
and an exposed vertical height of approximately 400 meters. The vein
remains open both along strike and at depth. Mine development, from 3
levels, has already begun with approximately 550 tonnes mined. An
underground drill program is planned.
Adit Resources Corp. -- Picacho Gold and Silver Property
Tara Minerals owns 90% of Adit Resources Corp., a private subsidiary with
the right to acquire a 100% interest in Picacho. Targets at Picacho consist
of four multi-stage gold and silver bearing veins and breccias totaling
over 8 1/2 kilometers. Drilling along a 12 meters thick, 150 meters wide
ore-shoot, intercepted 11.28 meters grading 15.57 grams per tonne gold and
32.4 grams per tonne silver. Adit has raised $1.2 million to date to
aggressively advance this property. A drill program is planned for Q2 2010.
Other Don Roman Structures
A series of parallel mineralized structures, traced for more than 300
meters, have been identified south of the Don Roman silver, zinc, and lead
mine. Surface samples returned 15% zinc, 25.2% lead, and 44 grams per tonne
to 1,111 grames per tonne silver. Additional mapping and sampling is
planned.
Centenario
Centenario is comprised of eight concessions totaling 5,400 hectares. It is
adjacent to Don Roman and contains two gold/copper systems (17 g/t gold, 7%
copper and 350 g/t silver), two lead/zinc/silver systems (8% lead, 9% zinc
and 400 g/t silver), and indications of an iron ore system (67% iron ore, 6
g/t gold and 4% copper). Additional mapping and sampling is planned.
Mr. Francis Biscan Jr., President of Tara Minerals Corp., stated, "Tara
Minerals has outperformed in a tough environment. We completed the Don
Roman mine and mill without incurring obligatory debt, improved corporate
and shareholder liquidity, and strengthened the portfolio with the addition
of Centenario and Picacho (under Adit). The company is now positioned with
a strong foundation of solid cash flow and earnings growth."
About Tara Minerals Corp.
Tara Minerals is focused on generating revenue from the Don Roman and
Lourdes gold, silver, zinc, and lead mine and mill located in Choix,
Mexico. Tara Minerals Corp. is a US-based growth-orientated resource
company engaged in the search, acquisition, exploration and development of
high-quality non-precious & precious metals and minerals projects with
potential for economic commercial value.
Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995: The statements contained herein which are not historical are
forward-looking statements that are subject to risks and uncertainties that
could cause actual results to differ materially from those expressed in the
forward-looking statements, including, but not limited to, certain delays
beyond the company's control with respect to market acceptance of new
technologies or products, delays in testing and evaluation of products, and
other risks detailed from time to time in the Company's filings with the
Securities and Exchange Commission.