ROCA - MAX molybdenum mine production schedule

In addition to rehabilitation and general maintenance at the site of Roca Mines located south of Revelstoke, a geotechnical program to survey the existing stope and mapping of other workings has been completed.

The preparation of a monitoring program based on this work is nearing completion and will enhance existing geotechnical monitoring. Data collected to date shows no changes to the stability of the workings or mine access. The monitoring program and amended mine plan will be submitted to BC's Chief Mines Inspector shortly for a final review.

In parallel with the activities described above, the company has been working with its various contractors to establish mobilization dates for critical path work in April. These tasks include stope development and long-hole production drilling prior to restarting production. In addition, various contractors are reorganizing staffing and management for the mill and other operations at the site. The mining industry is currently extremely competitive for services and personnel and the company is pleased that its contractors and staff are able to deliver in a timely fashion.

The company is also currently reviewing its alternatives to fund the current working capital requirement to restart the mine and an update on this plan will be provided shortly.

Management's goal to restart production at the MAX molybdenum mine and to advance its permitted 1,000-tonne-per-day expansion plans will reduce unit costs and preserve the opportunity to produce concentrates in an appreciating price environment. Molybdenum oxide currently trades at approximately US$17 per pound.

For details please visit Roca Mines Website.