SOURCE: Silver Falcon Mining, Inc.
BRADENTON, FL--(Marketwire - Mar 14, 2013) - Silver Falcon Mining, Inc. (OTCBB: SFMI) started once again to deliver precious metal dore bars to the refinery. On March 12, 2013 the Company added approximately 33 ounces of precious metal to its account at its refiner in Florida. Revenue received from the refined products will be available in forthcoming financial reports. This latest shipment came from concentrate produced prior to the startup of the floatation circuit at the Company production facilities in Murphy, Idaho.
Now fully operational, The Company's Diamond Creek Mill Facility's "Denver Flotation Circuit" has exceeded expectations in operational results. The Company reports that recovery from the ore processed by the new circuit exceeds 90% of all precious metals contained. This circuit can reach maximum efficiency at a rate of 10 tons/hr. With this increase in recovery values, Management remains bullish on the increase in dore amounts being shipped on a monthly base. Expectations are that the monthly revenue stream, for the Company, will increase on a month to month basis (Flotation operational pictures: http://www.yesinternational.com/float/floataionsfmi.htm).
Reports on the SINKER TUNNEL GOLD PROJECT revealed that the Company can extract ore bearing materials. Extraction rates are within the 1,000 tons per year outlined under our mining notice #IDI-36783 covered under the BLM rule #43 CFR 3809.11(b). The Company's in-house metallurgical team validated the ore quality from samples taken from the face of the Oro Fino vein structure crossing the SINKER tunnel. The Company's management believes that the earlier geological assessment of 3.75 oz/ton to more than 325 oz/ton (rare "Hot Zones" along the vein), are correct. The Oro Fino is a rich quartz epithermal gold bearing geological structure at least 3,200 feet deep, where it crosses the Sinker tunnel, and 6,000 to 10,000 feet long at the surface.
Exact assay information regarding ore grades will be made available at the time material is processed at the Diamond Creek Mill Facility. In the ensuing weeks ahead, management will provide more detailed reports regarding the exploration/development program within the SINKER TUNNEL GOLD PROJECT.
Further, the Company's Board of Directors decided to move forward with the cancellation of two of its registrations statements, US SEC FORM S-1. The first, S-1, in the process of being cancelled is the stand-by equity arrangement with Centurion Private Equity, LLC. The Board believes that the terms of this arrangement no longer fit SFMI's business objectives. The cancellation of the second registration with JMJ Financial (JMJ) is under way due to the Company's pursuit of a legal suit against the lender and its principals.
Also at the beginning of the year, the Company's Board of Directors decide that it was not in the company's interest to renew its "Investment Banking Contract" with Delaney Equity Group, LLC and have advised them of that fact.
As the Company moves forward on all operations, Management will update the investment community as the information comes available.
About Silver Falcon Mining, Inc.
SFMI has mineral rights to approximately 1,200 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 SFMI provides the area population with employment and service opportunities.
For further information, contact Mr. Richard Kaiser, Investor Relations, 757-306-6090 and/or www.silverfalconmining.com.
Silver Falcon Mining, Inc. cautions that statements made in this press release constitute forward looking statements, and makes no guarantees of future performance; actual results or developments may differ materially from projections in the forward-looking statements. Forward-looking statements are based on the estimates and the opinions of management at the time the statements are made.