SOURCE: Silver Falcon Mining, Inc.

Silver Falcon Mining, Inc.

November 20, 2012 09:15 ET

Silver Falcon Mining, Inc. (SFMI) Provides Update on Closed Circuit Leaching Plant

BRADENTON, FL--(Marketwire - Nov 20, 2012) - Silver Falcon Mining, Inc. (OTCBB: SFMI) provides an update on the regulatory approval process on the Company's closed circuit leaching plant.

On November 14, 2012, SFMI's Vice-President of Corporate Development and the Company's advisor, Dr. Gretchen Hoy of Hoy Environmental, PLLC, took part in a pre-application meeting for the cyanidation application currently being developed under the permit awarded in July to SFMI's Murphy Mill site. Department of Lands (IDL), Bureau of Land Management (BLM), Idaho Department of Environmental Quality (IDEQ) and the Environmental Protection Agency (EPA) were present. This pre-application meeting gave the Company the opportunity to present the scope and lay down the basis of its project to the agencies and to review all State and Federal regulations applicable to this permit which the Company intends to deposit before the end of 2012.

Drilling Program Update

With the property now secured, the equipment necessary for work to begin in the Sinker Tunnel Gold Project is arriving on site and is being made ready for use.

There are three kinds of ore on the Company's properties; INFERRED resources, PROBABLE reserves and PROVEN reserves. The drilling program will be an ongoing affair with drilling both inside and on the surface of the mountain while it explores and evaluates the value of the ore available. This will translate into the much awaited instrument NI 43-101 giving the shareholders positive proof of the value of their holdings. A supply of the rich ore from the veins available in the Sinker tunnel will enable the Company to adjust its mill to the appropriate settings for a continued production and delivery of Bullion DORE.

Metallurgical Lab Update

The Company expects the laboratory facility to be fully operational in the near future. Enclosure and inside furnishings are being completed and barring any unforeseen event, should be occupied and in operation by the end of the year.

Mill Update

The Company curtailed its night operations at the mill to allow for the testing and adjusting of the crushing and gravity circuits, which will handle the processing of virgin ore from the Sinker tunnel within the permissible directives of the agencies concerned. This will allow a concentrated effort on the Flotation Circuit and will permit an increase in productions of precious metal concentrate to allow for full production of all circuits (crushing, gravity, flotation, leaching) in 2013. In the meantime, an increase in bullion delivery is anticipated next year as both the new ore from the Sinker tunnel and the output from the flotation circuit increase in tonnage.

From Management

Mr. Pierre Quilliam, CEO, said, "Once work is underway to corroborate the findings of the USGS (United States Geological Survey), into the estimated reserves in War Eagle Mountain, we will be thrilled to report on the ongoing findings coming from the geologists allowing the Company to file the long awaited instrument NI 43-101."

About Silver Falcon Mining, Inc.

SFMI has mineral rights to approximately 2,000 acres on War Eagle Mountain in southern Idaho, Its Diamond Creek Mill is situated at the foot of War Eagle Mountain and is serviced by 6.2 miles of paved roads from State Highway 78. It maintains year round access to the Sinker Tunnel which will facilitate underground mining of the rich veins crisscrossing the mountain above it and will provide the area population, with employment and services.

For further information, contact Mr. Richard Kaiser, Investor Relations, 757-306-6090 and/or www.silverfalconmining.com.

Silver Falcon Mining, Inc. cautions that the statements made in this press release constitute forward looking statements, and not guarantees of future performance and actual results or developments may differ materially from the projections in the forward-looking statements. Forward-looking statements are based on the estimates and opinions of management at the time the statements are made.

Contact Information

  • Contact:
    Rich Kaiser
    Investor Relations
    YES INTERNATIONAL
    757-306-6090