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Candelaria Mining Corp.

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Summary

Project:

Pinos

Deposit:Pinos
Location:Mexico
Commodities:Gold-Silver
Date:9/13/2018
Report Code:NI43-101
Report Type:PEA
Project Stage:Pursuing Resource Increase/Upgrade
Report details:13-9-2018: Candelaria Mining Corp. announces a PEA report for its Pinos deposit at the Pinos project. PEA results incl. post-tax NPV of US $12.2M (5%), IRR of 25%, 7yr LOM at the project. The Pinos Project Preliminary Economic Assessment (“PEA”) results i
Resources:(Resource, M+I): 261.5Kt @ 3.0g/t Au, 59.1g/t Ag
CP/QP:[Resources]: Jose Olmedo (Independent)
ABSTRACT:The Pinos Project Preliminary Economic Assessment (“PEA”) results indicate a 7 year Life of Mine (“LOM”) with projected gold equivalent ounce (“GEO”) production of 89,000 with an after-tax IRR of 25%. September 13, 2018, Vancouver, British Columbia – Candelaria Mining Corp. (TSXV:CAND, OTC PINK:CDELF) (the “Company”) is pleased to provide the following update on the Company’s Pinos gold project located 140 kilometers east of the capital Zacatecas in the state of Zacatecas, Mexico. The project is district scale consisting of twenty-nine contiguous mining claims and covering 3,816 hectares, with easy access to infrastructure, labour and supplies. All currency related figures are in US dollars Curtis Turner, President and CEO of Candelaria Mining stated: "I am pleased to announce the results of the Pinos PEA. The PEA shows that Pinos is a great small scale project with the ability to grow. We are encouraged, not only by the PEA, but with the exploration potential on the property. The project is fully permitted. We have already sourced much of the processing facility. Therefore, we have limited the much of the risk associated with the start-up of most projects at a PEA stage. Developing the property as outlined in the PEA will allow us to commence with a low-capex project which will generate cash flows and to allow us to expand the operations, conduct further exploration work and continue to advance the other projects in our portfolio.”

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