VANCOUVER, April 10, 2018 /CNW/ - Leagold Mining
Corporation (TSX:LMC; OTCQX:LMCNF) ("Leagold" or "the Company")
announces Q1 2018 gold production at the Los Filos mine in
Mexico of 51,003 ounces (oz), in
line with the full-year guidance range of between 215,000 and
240,000 oz. The operating plan at Los Filos is scheduling higher
gold production during H2 2018 (Figure 1).
Leagold CEO Neil Woodyer
commented: "We are pleased to have a strong start to 2018 at Los
Filos and expect further production improvements throughout the
year. On closing of the Brio Gold acquisition, the combined company
is expected to produce gold at a rate of approximately 450,000 oz
per year from four mines in Mexico
and Brazil."
Development of the Bermejal Underground project continued in Q1
with more than 650 metres of advance in the main ramp – over 50%
towards reaching the central high-grade portion of the deposit
scheduled for the end of the year. The project is on track to
access the test mining area by the end of Q2.
Q1 2018 financial results and additional operating details will
be reported on May 2, 2018.
Qualified Persons
Doug Reddy, P.Geo, Leagold's
Senior Vice President – Technical Services, is a Qualified Person
under NI 43-101, and has reviewed and approved the technical
contents of this news release on behalf of Leagold.
About Leagold Mining Corporation
Leagold is building a mid-tier gold producer with a focus on
opportunities in Latin America.
The Company is based in Vancouver,
Canada and owns 100% of the Los Filos mine in Mexico. Leagold is listed on the TSX under the
trading symbol "LMC" and trades on the OTCQX market as "LMCNF".
Cautionary Note Regarding Forward Looking Statements
This news release contains "forward looking information" or
"forward looking statements" within the meaning of applicable
securities legislation. Forward-looking information and forward
looking statements include, but are not limited to, statements with
respect to the Company's 2018 outlook, the realization of mineral
reserve estimates, realization of the benefits of certain capital
projects, the timing and amount of estimated future production, and
expectations with respect to closing the acquisition of Brio.
Generally, these forward looking information and forward looking
statements can be identified by the use of forward looking
terminology such as "plans", "expects" or "does not expect", "is
expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate", "will continue"
or "believes", or variations of such words and phrases or state
that certain actions, events or results "may", "could", "would",
"might" or "will be taken", "occur" or "be achieved". Statements
concerning mineral resource estimates may also be deemed to
constitute forward looking information to the extent that they
involve estimates of the mineralization that will be encountered.
The material factors or assumptions used to develop forward looking
information or statements are disclosed throughout this
document.
Forward looking information and forward looking statements,
while based on management's best estimates and assumptions, are
subject to known and unknown risks, uncertainties and other factors
that may cause the actual results, level of activity, performance
or achievements of Leagold to be materially different from those
expressed or implied by such forward-looking information or forward
looking statements, including but not limited to: risks related to
international operations; risks related to having to obtain
regulatory, shareholder and other approvals in connection with the
Acquisition, risks related to successful integration of Brio if the
Acquisition is consummated, risks related to general economic
conditions and credit availability, actual results of current
exploration activities, unanticipated reclamation expenses; changes
in project parameters as plans continue to be refined; fluctuations
in prices of metals including gold; fluctuations in foreign
currency exchange rates, increases in market prices of mining
consumables, possible variations in mineral reserves, grade or
recovery rates; failure of plant, equipment or processes to operate
as anticipated; accidents, labour disputes, title disputes, claims
and limitations on insurance coverage and other risks of the mining
industry; delays in obtaining governmental approvals or financing
or in the completion of development or construction activities,
changes in national and local government regulation of mining
operations, tax rules and regulations, and political and economic
developments in countries in which the Company operates, actual
resolutions of legal and tax matters, as well as those factors
discussed in the section entitled "Description of the Business –
Risk Factors" in Leagold's most recent AIF available on SEDAR at
www.sedar.com.
Although Leagold has attempted to identify important factors
that could cause actual results to differ materially from those
contained in forward-looking information and forward-looking
statements, there may be other factors that cause results not to be
as anticipated, estimated or intended. There can be no assurance
that such information or statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such information or statements. The Company has and
continues to disclose in its Management's Discussion and Analysis
and other publicly filed documents, changes to material factors or
assumptions underlying the forward-looking information and
forward-looking statements and to the validity of the information,
in the period the changes occur. The forward-looking statements and
forward-looking information are made as of the date hereof and
Leagold disclaims any obligation to update any such factors or to
publicly announce the result of any revisions to any of the forward
looking statements or forward looking information contained herein
to reflect future results. Accordingly, readers should not place
undue reliance on forward-looking statements and information.
Cautionary Note Regarding Brio Information
The information concerning Brio Gold's production contained
in this news release has been taken from, or is based upon,
publicly available information filed by Brio with securities
regulatory authorities in Canada
or otherwise available in the public domain as of the date hereof
and none of this information has been independently verified by
Leagold. Although Leagold does not have any knowledge that
such information may not be accurate, there can be no assurance
that such information from Brio is complete or
accurate. Brio has not reviewed this news release and
has not confirmed the accuracy and completeness of the Brio
information contained herein.
SOURCE Leagold Mining Corporation