VMS Ventures Inc.
TSX VENTURE : VMS

VMS Ventures Inc.

January 22, 2015 12:46 ET

VMS Provides Reed Mine Operations Update

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 22, 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 Inc. 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 December 2014, mining activity concentrated on the copper rich lens of Zone 20. The ramp is currently being driven to the 235 metre level and ore development is ongoing on 160 metre level of Zone 30, and 185 and 210 metre levels of Zones 20 and 10. The focus for January will be on safety, ore production and driving the main decline below the 235 metre level.

Highlights for December 2014

  • Ore production of 37,316 tonnes; total 415,736 tonnes year to date
  • Development advanced 263 metres in December; 3,328 metres year to date
  • Safety performance has been good

Neil Richardson, Chief Operating Officer, states, "As of the end of December we have had 223 consecutive days with no lost time accidents. We have intersected two ore zones with development on the 210 metre level, higher copper grades are expected as we see development from 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 in 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 of Reed. The Company also holds approximately 22% of the shares in 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.

ON BEHALF OF THE BOARD OF DIRECTORS

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
    (604) 986-2020 or Toll Free: 1-866-816-0118

    VMS Ventures Inc.
    Evan Sleeman
    Director
    (604) 986-2020 or Toll Free: 1-866-816-0118
    www.vmsventures.com