Silverstone Provides Q1-2008 Silver Sales
30 Abril 2008 - 1:48PM
Marketwired
VANCOUVER, BRITISH COLUMBIA (TSX VENTURE: SST) reports sales of
403,000 ounces of silver in the first quarter of 2008. Silverstone
has forecast fiscal 2008 silver sales of 2,155,000 ounces. Sales
for the quarter were slightly below forecast due to timing of
shipments. Silverstone purchased Q1 - 2008 production at an average
cost of US$3.98 per ounce. The cost of silver is fixed at less than
US$4.00 per ounce through 2010.
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Q1 - 2008 (A) Fiscal Year 2008 (F)
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Ag (oz) Ag (oz)
---------------------------------------------------------------
---------------------------------------------------------------
Cozamin 306,000 1,300,000
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Neves-Corvo Copper 97,000 540,000
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Neves-Corvo Zinc 0 90,000
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Aljustrel Zinc 0 225,000
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Total 403,000 2,155,000
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Note: Results for the three months ended March 31, 2008 will be
reported in May 2008.
Silver Sales Forecast (1)
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2009 (F) 2010 (F)
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Ag (oz) Ag (oz)
---------------------------------------------------------------
---------------------------------------------------------------
Cozamin 1,500,000 1,500,000
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Neves-Corvo Copper 540,000 540,000
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Neves-Corvo Zinc 260,000 260,000
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Aljustrel Zinc 875,000 1,200,000
---------------------------------------------------------------
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Total 3,175,000 3,500,000
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(1) Silver sales forecasts are based on 2007 actual metallurgical
recoveries of silver to concentrates at the various operations
combined with forecast grades and production and existing
smelter contracts for the different concentrates.
Mr. Hugh Willson, P.Geo., Vice-President, Exploration of
Silverstone, who is a "qualified person" under National Instrument
43-101, has reviewed and approved the technical aspects of this
news release.
ABOUT SILVERSTONE
Silverstone is a Canadian based public silver mining company
with 100% of its revenue from silver production. More information
is available online at: www.silverstonecorp.com.
This press release contains "forward-looking information" that
is based on Silverstone's current expectations, estimates,
forecasts and projections. This forward-looking information
includes, among other things, statements with respect to
Silverstone's mineral discoveries, plans, outlook and business
strategy. The words "may", "would", "could", "should", "will",
"likely", "expect," "anticipate," "intend", "estimate", "plan",
"forecast", "project" and "believe" or other similar words and
phrases are intended to identify forward-looking information.
Forward-looking information is subject to known and unknown
risks, uncertainties and other factors that may cause Silverstone's
actual results, level of activity, performance or achievements to
be materially different from those expressed or implied by such
forward-looking information. Such factors include, but are not
limited to: projected sales or production rates; uncertainties
related to drilling results; the ability to raise sufficient
capital to fund exploration; changes in economic conditions or
financial markets; changes in prices for costs; litigation,
legislative, environmental and other judicial, regulatory,
political and competitive developments; technological or
operational difficulties or inability to obtain permits encountered
in connection with exploration activities; and labor relations
matters.
This list is not exhaustive of the factors that may affect our
forward-looking information. These and other factors should be
considered carefully and readers should not place undue reliance on
such forward-looking information. Silverstone disclaims any
intention or obligation to update or revise forward-looking
information, whether as a result of new information, future events
or otherwise.
The TSX Venture Exchange has neither approved or disapproved of
the contents herein.
Contacts: Silverstone Resources Corp. Chris Tomanik (604)
637-8151 Email: ctomanik@silverstonecorp.com Silverstone Resources
Corp. Mark Patchett (604) 637-8151 (604) 688-2180 (FAX) Email:
mpatchett@silverstonecorp.com Website: www.silverstonecorp.com
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