Ressources Appalaches Inc.
TSX VENTURE : APP
FRANKFURT : OU3

Ressources Appalaches Inc.

January 09, 2014 13:38 ET

Ressources Appalaches 2013 Review and Strategic Goals for 2014

RIMOUSKI, QUEBEC--(Marketwired - Jan. 9, 2014) - Ressources Appalaches (TSX VENTURE:APP)(FRANKFURT:OU3), would like to recount the work done and significant progress achieved during 2013 and update on the strategic goals for 2014 developing the Dufferin Gold Mine in Nova Scotia.

In 2014 the Company will start gold production to reach its installed capacity of 300 tons per day. The Company has well defined strategies to reach these goals:

  • The path to production will continue in January with new hiring of operators, miners, electricians, mechanics and security staff to complete the planned number of 70 employees.
  • The company will continue refining the engineering work for mining plan, ventilation system and tailings management for the Company's cost optimisation and good compliance standing.
  • The Company is planning to do underground development and to complete the installation of new equipment in the mill during the first quarter in order to start the ore production by the end of Q1.
  • Ramping up the production to reach the full practical capacity of the mill by the third quarter.
  • During the period, an important geological program will be made to bring a quality mining process to the mine and to increase resources along the anticline strike length.

Ressources Appalaches' team successfully completed the goals for the year 2013 as detailed below:

  • The Company completed the acquisition of 100% of the East Dufferin property, adjacent to the Dufferin mine. The Company properties now covers anticline structure over 8.4 km long, of which 1.4 km has been drilled to depths upwards to 400m (see Press Release March 20, 2013).
  • The Company announced the closing of the first tranche of a U.S. $10 million loan, receiving the first $2.5 million (U.S.) tranche on May 8.
  • The Company was successfully listed on the Frankfurt Stock Exchange (FWB) under the ticker symbol OU3.
  • Industrial Approval from the Province of Nova Scotia was received on November 27, 2013. This last authorisation will lead Ressources Appalaches from a junior exploration company to a mining company on a clear path to produce gold.
  • The Company announced the closing of the second tranche (U.S. $7.5 million) of its US$10M loan financing on December 2nd, secured for gold production at the Dufferin mine.
  • The Company's recruiting efforts resulted in experienced professionals for positions as Financial Controller, Administration Officer, Deputy Mine Manager, Senior Mining Engineer, Mill Superintendent, and Operation Geologist, as well as Administrative staff and site services. The Company also welcomed Mr Jose Oro as a new director.
  • Rehab of Portal and the technical preparations to start working underground (see Press Release Jun 17, 2013) was completed.
  • A group of contracts were awarded for construction of the crusher building, tailings facility upgrade and fuel storage facility. The mill was partly refurbished and the remainder of the shaker table, falcon concentrator, filter press and induction furnace have all been ordered for delivery during QI, 2014.

Mr. Jean Claude Morel has tendered his resignation as executive Vice President and COO of Ressources Appalaches due to personal reasons, effective today. The board of directors sincerely thanks Mr. Morel for his contributions during his time with the company and wishes him well in all his endeavours.

About Ressources Appalaches

Since it was created in 1994, the goal of Ressources Appalaches has been to discover and develop deposits of base and precious metals in Canada with an expertise targeted towards the Appalachian geological formation in Québec and Nova Scotia. The Company is mainly focused on the exploration and development of the Dufferin Gold Mine in Nova Scotia.

Photos of the Dufferin Mine and its facilities are available on the Company's website at:
www.ressourcesappalaches.com.

The contents of this press release were prepared and reviewed by Alain Hupé, Eng. A Qualified Person as defined in NI 43-101. Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts any responsibility for the adequacy or accuracy of this release.

The contents of this press release were prepared and reviewed by Alain Hupé, Eng. A Qualified Person as defined in NI 43-101. Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts any responsibility for the adequacy or accuracy of this release.

This press release may contain certain forward-looking statements that include elements of risk and uncertainty. Consequently, actual results may differ substantially from those anticipated in such statements. These risks and uncertainties are described in the quarterly and annual reports, and in the documents submitted to the securities administration.

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