VMS Ventures Inc.

VMS Ventures Inc.

February 25, 2015 09:20 ET

VMS Provides Reed Mine Operations Update

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 25, 2015) - VMS Ventures Inc. (TSX VENTURE:VMS) ("VMS Ventures" or the "Company") is pleased to update shareholders on the performance of the Reed mine. VMS Ventures owns 30% and Hudbay Minerals Inc. (TSX:HBM)(NYSE:HBM) ("Hudbay") owns 70% and is the operator. Management has reviewed the Reed mine financial report received from Hudbay.

Reed Mine Underground Development Update

In the month of January 2015, mining activity concentrated on the copper rich Zone 20 lens. The main decline has been driven to the 235 metre level and ore development is ongoing on the 160 and 185 metre levels of Zone 20, and the 210 metre level of Zones 20 and 10. The focus for February will be on safety, ore production from Zone 20 on the 110 and 135 metre levels and driving the main decline below the 235 metre level.

Highlights for January 2015

  • Ore production of 41,593 tonnes
  • Development advanced 311 metres in January
  • Safety performance has been good with over 254 days without a loss time accident

Neil Richardson, Chief Operating Officer, states "As of the end of January the mine has had 254 consecutive days with no lost time accidents. Expectations were exceeded for production and development metres in the month of January. We have intersected ore on the 210 metre level from both Zone 20 and Zone 10. High copper grades are anticipated as we continue to develop new working faces within Zone 10."

Qualified Person

All technical information in this release has been reviewed by Dr. Mark Fedikow, P.Geo., who is the Qualified Person for the Company and Vice President of Exploration & Technical Services, VMS Ventures Inc.

About VMS Ventures Inc.

VMS Ventures Inc. is a mining and mineral exploration company currently in partnership with Hudbay Minerals on the producing Reed mine near Flin Flon Manitoba. VMS holds a 30% interest in the Reed mine which is operated by Hudbay Minerals and achieved full production during Q2 of 2014. In addition, VMS is exploring a large prospective property package in Manitoba. The Company is actively evaluating new growth opportunities to build on the success achieved at Reed. The Company also holds approximately 22% of the shares of North American Nickel (TSX VENTURE:NAN) which is exploring a new district scale nickel-copper-cobalt PGE deposit belt in S.W. Greenland.

For more information on North American Nickel Inc., please visit www.northamericannickel.com.

Forward-Looking Statement

Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward-looking statements that involve various risks. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward-looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. VMS Ventures Inc. undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.


John Roozendaal, B.Sc., Interim CEO, President, Director

VMS Ventures Inc.

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

Contact Information

  • VMS Ventures Inc.
    Jaclyn Ruptash, Corporate Communications or
    Evan Sleeman, Director
    (604) 986-2020 or Toll Free: 1-866-816-0118