🕐02.06.11 - 15:54 Uhr
NEWS OUT(GOLD):SFMI.OTCBB-SILVER FALCON MINING-PRESIDENTS UPDATE
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SILVER FALCON MINING, INC.s (SFMI) PRESIDENT PROVIDES OPERATIONAL UPDATE
Murphy, ID- June 2, 2011-Silver Falcon Mining, Inc.
(SFMI.
OTCBB) acquired
the War Eagle Mountain property mining rights on the basis of its extensive
gold/silver vein systems through a multi-year lease agreement from GoldLand
Holdings, Co.
(GHDC.
OTCBB).
These properties are well documented in
historical archives, and many mineralized zones are over one mile in length.
Over the last 7-months, due to lack of geological expertise and access to
the mountain due to weather inaccessibility, the Companys focus shifted
from the exploration potential of the mountain to the processing of
tailings.
Realizing the need for personnel with mining experience, the
Company hired Roger Scammell
, a
great asset, with over 40 years of experience in the Northern and Central
American mining industries.
Roger has been associated with four exploration
successes, two of which are now producing mines.
>From managements perspective, the processing of the current tailings
stockpile is of secondary importance to that of the exploration potential.
It was, and is intended to prepare and fine tune the mill to extract gold
and silver for further production and future acquisition.
At the current
throughput and anticipated grades, any cash flow that the mill generates is
intended to augment the Companys finances.
In the interim, it is the
intention of the Company, to secure higher grade material from the existing
dumps/tailings to increase the Companys cash flow.
Once it has been
re-determined which dumps contain economic mill grades, a program of removal
and transport will be closely monitored to ensure that QA/QC (quality
assurances and quality controls) is strictly enforced.
The Company intends
to ensure that only worthwhile material for processing is delivered to the
plant to ensure quality and promote further revenue streams.
Beginning July 2011, the Company will embark on a two-year aggressive
exploration program.
This project will focus primarily on the Sinker Tunnel
(Sinker) and the surface of War Eagle Mountain.
On the surface of War Eagle
Mountain, the Company will begin with its Great Western property, located at
the northern portion of the Oro FinoMahogany/Red Bird Mineral Trend Zones.
Since last year, due to snow cover, there has been no opportunity to advance
the surface exploration.
Once the mountain is accessible, the company will
conduct a geological and sampling mapping program.
This will lead to the
definition of favourable veins and mineralized structures that will require
follow-up diamond drilling later in the year.
The Company is in the process
of acquiring necessary permits, which are being processed expeditiously.
In
preparation, for the exploration program, available data is being compiled
on the claims currently leased by SFMI from the BLM (Bureau of Land
Management) and GoldLand Holdings, Co.
At the same time, another key aspect
to the growth of the Company is the acquisition of additional mineral claims
and lease agreements for the numerous other existing areas on the mountain.
The re-habilitation of the Sinke
r is
well underway and the entire tunnel and cross-cuts are now accessible.
The
vein structure is very well exposed along the cross-cut extending along the
tunnel from the Oro Fino in the north to the Mahogany/Redbird in the south,
a distance of approximately 7,720 feet.
The Sinker will not only provide
year- round access to this principal vein but also allows an opportunity to
explore it and other parallel structures.
Since the Sinker is located below
and along the Oro Fino, Golden Chariot, Cumberland, Minnesota, Mahogany and
Red Bird vein structures, this would allow the development of these mines
below the existing workings.
President, Mr.
Roger Scammell said, At a recent Board of Directors
meeting, management was given full support and the budgets were approved to
proceed with the Companys business plan for the coming year and I wish to
thank them personally.
The Company is well financed to achieve its
objectives and I look forward to the upcoming exploration programs which
should give this Company the necessary requirements for obtaining listings
on other North American and European stock exchanges.
As always, I thank all
shareholders at SFMI for their on-going support.
Silver Falcon Mining, Inc.
(SFMI:OTCBB) is a developer and explorer of
mineral resource properties, primarily in Owyhee County, Idaho, USA, with
the objective of being a profitable, low-cost, precious metal producer and
creating significant growth in shareholder value.
Further Information contact: Rich Kaiser, Investor Relations, 757-306-6090
and/or visit http://www.silverfalconmining.com
.
SFMI cautions that statements made in press release constitute
forward-looking statements, and makes no guarantees of future performance
and actual results/developments may differ materially from projections in
forward-looking statements.
Forward-looking statements are based on
estimates and opinions of management at time statements are made.
If you have received this email in error or would like to be removed from
further notifications, send REMOVE-SFMI to or
call 757-306-6090.
SFMI.OTCBB