VMS Ventures Inc.
TSX VENTURE : VMS

VMS Ventures Inc.

December 18, 2014 11:01 ET

VMS Provides Reed Mine Update

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 18, 2014) - 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 November 2014, mining of Zone 20 stopes commenced on the 160 metre level resulting in increased copper grade. The ramp is currently being driven to the 235 metre level and ore development is ongoing on the 160 and 185 metre levels. The focus for December will be on safety, ore production and driving the main decline down to the 235 metre level.

Highlights for November 2014

  • Ore production of 40,885 tonnes; total 378,421 tonnes year to date
  • Development advanced 254 metres in October; 3,065 metres year to date
  • Occupancy permit was received for the dry addition
  • Dedicated air line to refuge stations installed and operational
  • Lateral development commenced on the 210 metre level

Neil Richardson, Chief Operating Officer, states "As of the end November we have had 192 consecutive days with no lost time accidents and there has only been a single lost time accident through the life of the project and commercial production to date. In November the mining personnel worked safely through some heavily jointed ground while achieving good mine development and production. Year to date we are close to achieving budgeted tonnes and development metres."

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 earlier this year. In addition, VMS is exploring a large prospective property package in Manitoba. The Company is actively evaluating new growth opportunities to build on 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