Anthem United Inc.
TSX VENTURE : AFY

Anthem United Inc.

October 07, 2015 12:43 ET

Anthem United Inc. Announces First Gold and Silver Production from the Koricancha Mill, Provides Commissioning Update

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 7, 2015) - Anthem United Inc. (TSX VENTURE:AFY) ("Anthem" or the "Company") is pleased to announce first production of gold and silver doré from its gold milling operation in Peru (the "Koricancha Mill") as well as provide an update of commissioning activities at the Koricancha Mill.

First Gold and Silver Production

In connection with initial commissioning, harvest of loaded carbon from the Koricancha Mill during August and September has produced approximately 2,665 ounces of gold and 2,556 ounces of silver in doré. Further, the Koricancha Mill has now also completed first exportation and sale of refined gold and silver.

Greg Smith, President and CEO, commented: "First production of gold and silver is always a significant event in the commissioning of a new plant and I would like to take this opportunity to commend and thank the Koricancha, EMC Green Group, and Anthem teams for their efforts in realizing this accomplishment. I'd further like to thank our local stakeholders and shareholders for their significant support to date."

Gold and silver production and sales are expected to increase as deliveries and stockpiles of mineralized mill feed continue to escalate and additional available processing capacity is brought on-line.

Koricancha Mill Commissioning

Construction of the Koricancha Mill is substantially complete with all critical infrastructure and equipment in place with the exception of the onsite chemical lab. Construction of the chemical lab is currently in progress and is expected to be completed during the fourth quarter. To date, the Koricancha Mill has been using local third-party laboratories for chemical analysis.

Commissioning activities at the Koricancha Mill commenced in late June and continued through September. The crushing circuit, the milling circuit, the recovery circuit, the tailings facility and support infrastructure are now fully commissioned.

Deliveries of mineralized mill feed have been accelerating with approximately 6,700 tonnes received during commissioning to September 30. As deliveries and stockpiles of mineralized feed continue to increase over the next several months, available capacity will be brought on line as needed up to the 350 tonne per day total plant capacity.

As the Company has now demonstrated the operating capability of the plant after several months of commissioning, it will commence accounting for operations at the Koricancha Mill on a commercial production basis as of October 1.

Responsible Jewellery Council

As a company committed to responsible production of precious metals, Anthem is pleased to announce that it has been accepted as a member of the Responsible Jewellery Council ("RJC"). RJC is a not-for-profit, standard setting and certification organisation with over 600 member companies spanning the jewellery supply chain from mine to retail.

RJC members commit to and are independently audited against the RJC Code of Practices, an international standard on responsible business practices for diamonds, gold and platinum group metals. The Code of Practices addresses human rights, labour rights, environmental impact, mining practices, product disclosure and many more important topics in the jewellery supply chain. In joining the RJC, the Company has committed to achieving full certification pursuant to the RJC Code of Practices, as applicable to its business, within the next two years.

About Anthem United Inc.

Anthem United (www.anthemu.com) is focused on building a precious metals producing company through the acquisition and development of silver and gold mineral assets. The Company is currently advancing the development, construction and operation of the 350 tonne per day Koricancha Mill in Peru, in which it owns a 75% interest. The Company's joint venture partner, EMC Green Group SA, owns the remaining 25%, subject to an 8% cost of sales royalty payable to Anthem, and is the operator of the Koricancha Mill. The Koricancha Mill will produce gold for its own account by processing gold bearing ore purchased from small scale and artisanal miners in Peru.

In May 2015, Anthem and EMC announced the acquisition of a second 350 tonne per day gold mill and associated mineral claims, collectively the "Chappara Assets" (see news release dated May 28, 2015). The acquisition of the Chappara assets is expected to close in the first quarter of 2016.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This release contains certain "forward-looking statements" and certain "forward-looking information" as defined under applicable Canadian and U.S. securities laws. Forward-looking statements can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. Forward-looking statements include, but are not limited to, statements with respect to the development of the Koricancha Mill Joint Venture, including the completion of construction activities, receipt of equipment orders, the approval of certain permit applications and the requisite timing of the foregoing. Forward-looking statements are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable at the time of such forecasts, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Certain of the statements made herein by the Company are forward-looking and subject to various risks and uncertainties, both known and unknown, many of which are beyond the ability of the Company to control or predict. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Forward-looking information is subject to known and unknown risks and uncertainties that may cause the Company's actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking information, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drill results and other exploration data, the potential for delays in exploration or development activities, mine development and production costs, future production levels, the geology,
grade and continuity of mineral deposits, the possibility that future exploration, development or mining results will not be consistent with the Company's expectations, accidents, equipment breakdowns, title matters, labour disputes or other unanticipated difficulties with or interruptions in production and operations, fluctuating metal prices, unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future, the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, regulatory restrictions, including environmental regulatory restrictions and liability, competition, loss of key employees, and other related risks and uncertainties. The Company undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

Contact Information

  • Anthem United Inc.
    Greg D. Smith
    (604) 336-8190