SOURCE: La Mancha Resources

February 24, 2011 09:35 ET

ITY Mine Update

PARIS--(Marketwire - February 24, 2011) - La Mancha Resources Inc. (TSX: LMA) (hereinafter "La Mancha" or the "Company") reports that it proceeded, earlier today, to the orderly interruption of its Ity mine activities in Côte d'Ivoire. Approximately 4,300 ounces of gold (2,000 ounces attributable to La Mancha) have been produced by the mine since the restart of its activities in mid-January 2011. For its 2011 production guidance, La Mancha had incorporated a conservative production target of a minimum of 12,000 ounces of gold for the Ity mine as it had assessed its production to be vulnerable to the country's current political situation.

Dominique Delorme, President and CEO of La Mancha, noted: "We expect that the situation will continue to rapidly evolve in the area surrounding the mine for the time to come. Luckily, our ability to quickly suspend and restart activities at the Ity mine gives us the flexibility to adapt ourselves to the evolution of the political situation, which should allow Ity to meet this year's gold production target while assuring the safety of our employees and their family."

Despite the Ity mine's current situation, La Mancha's consolidated production remains in line with its 2011 guidance of 115,000 to 135,000 attributable ounces of gold.

La Mancha owns a 45.9% interest in the Ity mine, located in the Zouan Hounien region, in western Côte d'Ivoire. At the end of December 2010, under the same political context, the Ity mine had suspended its activities for a two week period. La Mancha expects that approximately 13% of its 2011 consolidated gold production to come from the Ity mine.

La Mancha Resources Inc. is an international gold producer with operations, development projects and exploration activities in Africa, Australia and Argentina. La Mancha's shares trade on the Toronto (TSX) under the symbol "LMA". For more information on the Company, visit its website at

This press release contains certain "forward-looking statements", including, but not limited to, the statements regarding the Company's future commercial production. Forward-looking statements express, as at the date of this press release, the Company's plans, estimates, forecasts, projections, expectations or beliefs as to future events and results. Forward-looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements. Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements include, but are not limited to, factors associated with the geopolitical tensions currently observed in Côte d'Ivoire, mining industry risks, exploration risks, environmental risks and hazards, uncertainty as to calculation of mineral reserves, requirement of additional financing or additional permits, authorizations or licenses, risks of delays in construction and production and other risks referred to in La Mancha's 2009 Annual Information Form filed with the Securities Commissions, as well as the Toronto Stock Exchange.

Contact Information

  • For additional information, please contact:
    La Mancha Resources Inc.
    Martin Amyot
    Vice President Corporate Development
    Tel: (514) 987-5115

    La Mancha Resources Inc.
    Nicole Blanchard
    Investor Relations
    Tel. : (514) 987-5115
    Courriel : Email Contact