🕐14.12.11 - 15:54 Uhr
NEWS OUT(GOLD):SFMI.OTCBB-SILVER FALCON MINING- SINKER TUNNERL EXPLORATION UPDATE
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SFMI.OTCBB
SILVER FALCON MINING, INC.
(SFMI) MOVES FORWARD WITH SINKER TUNNEL
EXPLORATION PROGRAM AND PROVIDES OTHER OPERATIONAL UPDATES
Bradenton, FL- December 14, 2012-Silver Falcon Mining, Inc.
(SFMI.OTCBB)
announces that a bid request will be tendered for underground exploration
services for the Companys Sinker Tunnel project.
The successful bidder will
provide a comprehensive cost-service breakdown for blasting and drilling on
the proposed project.
A sizable chamber at the far end of the Sinker Tunnel
is necessary, whereas a drill room will be created to provide drilling
equipment access and mobility.
Once the drill room is completed, SFMI plans
on drilling 5,000 feet, using both RVC-reverse circulation drilling and
diamond core drilling methods
on
predetermined geological targets within the Sinker.
The Company further states that its Canadian National Instrument 43-101-
Standards of Disclosure for Mineral Projects
is progressing under the direction of a third party contracted
geological team, with the expectation of it being filed with the necessary
Canadian regulatory agencies sometime during the first quarter of 2012.
The Company confirms that deliveries of Bullion Dore have been made so far
this year, producing revenue as per their planned operations.
Total revenue
amounts will be included in the year end filing (10K) with the United States
Securities and Exchange Commission (US SEC).
Deliveries of dore will ensue throughout 2012.
On December 7, 2011, a FORM S-1 Registration Statement was filed with the US
SEC.
This registration, pending exchange approval, allows SFMI to exercise,
at its discretion, a line of credit provided through Centurion Private
Equity, LLC .
The Companys Diamond Creek Mill Facility has begun to process the 15,249
tons of ore brought down this year from War Eagle Mountain.
This ore,
combined with the material already on site at the mill, will enable SFMI to
carry on uninterrupted mill production until the weather allows road access
to the top of the mountain again next spring.
Additionally, GOLDLAND HOLDINGS CORP.
s (GHDC.OTCBB) management has granted
SILVER FALCON MINING, INC.
an additional 18-month deferment on rents and
royalties owed per terms and conditions of its lease agreement.
Both
Companies have agreed to a deferment without accrued interest within the
first 9-months of this agreement.
At the end of 9-months both SFMI and GHDC
will review operational status and make further adjustments, if needed.
The smelter facility is progressing as planned and the building should be
ready to receive the various components of the laboratory and the furnace
room, along with ancillary equipment shortly.
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, 800-631-8127
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;
actual results/developments may differ materially from projections in
forward-looking statements.
Forward-looking statements are based on
estimates /opinions of management at time statements are made.
If you would care not to receive this information or have received it in
error, please send REMOVE-SFMI to or call
757-306-6090.
SFMI.OTCBB