Press Release Source: Silver Falcon Mining, Inc. On Monday June 13, 2011, 9:45 am
BRADENTON, FL--(Marketwire - 06/13/11) - Silver Falcon Mining, Inc. (OTC.BB:SFMI - News) is very pleased to report on four random assays on the material mill feed at its Murphy, Idaho, 100% owned Diamond Creek Mill facility. The assay reports on the tables below.
The Company, also reports on the filing of its Form S-1, finalizing the initial steps of its $7.2 million equity agreement with Centurion Private Equity, LLC.
Table #1-Throughput Feed
Four Random Assays of Tailings Fed (FEED) to the Mill on the Listed Dates Sample Test Au/grams Ag/grams Total Troy Size (g) Weight %Au %Ag per ton per ton ounces Date---------------------------------------------------------------------------- 29.16 .68 2% 98% .42296 20.72504 .68 5/2/11 29.16 .99 1% 99% .30789 30.48111 .99 5/10/11 29.16 .42 20% 80% 2.6124 10.4496 .42 5/17/11 29.16 .9 6% 94% 1.6794 26.3106 .9 5/23/11
NOTE: Gold and Silver grades (Au and Ag) are expressed both as a percentage and in grams. Samples are collected at set times during the day and night shifts. As can be seen above, quantities of precious metals vary greatly from day to day as can be expected in tailings that were dumped haphazardly more than a century ago.
Table #2-Concentration Outputs*
Four Random Assays of CONCENTRATE from the Mill on the Listed Dates Sample Au/grams Ag/grams Total Troy Size (g) %Au %Ag per ton per ton ounces Date---------------------------------------------------------------------------- 29.16 68% 32% 107.8548 50.7552 5.1 5/2/11 29.16 25% 75% 108.85 326.55 14 5/10/11 29.16 23% 77% 71.53 239.47 10 5/17/11 29.16 29% 71% 261.551 640.349 29 5/23/11
NOTE: It should be noted that the sampling above represent ONLY a spot check of the concentrate accumulated daily. Only upon smelting of this material will the quantities of BULLION DORE produced provide accurate contents of Gold and Silver.
*Since our closed circuit milling process keeps material in circulation in the mill until the concentrator removes the precious metals and sends them to the concentrate tank, we cannot precisely gauge the amount of Gold and Silver as separate items until the concentrate reaches the smelting process.
"Every time I look at the performance of the market and look back at the assays coming out of our onsite laboratory, I am nonplussed at the market reaction to what is, in my opinion, an unqualified success, given the fact that we are processing 100 year old tailings from which Gold and Silver had already been extracted. Comparing ore extraction methods at that time, to that of today's standard, they were less than 60% efficient. It is a testament to both the exceptional quality of original ore content of precious metals and our employees' ability to extract the amount of Gold and Silver left in those tailings; this should be even more apparent as we move towards production of precious metal from the ore contained in the underground veins," said Pierre Quilliam, CEO of SFMI.
He further states,"The mill circuit, as configured, will allow SFMI to create capital from the sale of ore, as well as ready the whole production line to handle prime ore from the underground veins of the War Eagle Mountain property. Our near-term efforts include augmenting our production capacity to produce more Gold and Silver from the old tailings atop War Eagle Mountain and our long term efforts in the identification, exploration, development, and extraction of the ore bodies remaining inside the mountain."
Exploration and Development QA/QC Protocols
Silver Falcon's exploration and development program is supervised by the Company's President, Mr. Roger Scammell, P. Geo. Exploration will be conducted under strict quality assurance and quality controls (QA/QC) protocols, including mineralized standards. Half of all sampled core will be retained for future reference at the Company's core shack, and analyses will be performed by the Company's on-site laboratory and by an Independent laboratory, to be named at the beginning of core drilling operations.
On March 11, 2011, the Company announced it secured a $7.2 million equity purchase funding Commitment from Centurion Private Equity, LLC, an Affiliate of Institutional Investor Roswell Capital Partners. SFMI filed, on June 3, 2011 an S-1 registration with the United States Securities and Exchange Commission regarding this equity agreement with Centurion Private Equity, LLC.
Mr. Paul Gorski, Senior Investment Officer at Roswell Capital, said, "I am very excited at the progress made by Silver Falcon Mining (SFMI) and we are standing by to provide them with the necessary capital and support for them to achieve their full potential, now and in coming years."
About Silver Falcon Mining, Inc.
SFMI has mineral rights to approximately 2,000 acres on War Eagle Mountain in southern Idaho; its Diamond Creek Mill is situated at the foot of War Eagle Mountain and is serviced by 6.2 miles of paved roads from State Highway 78. It maintains year round access to the Sinker Tunnel which will facilitate underground mining of the rich veins that crisscross the mountain. The Company hires and has access to a mining oriented local workforce.
On behalf of the Board of Directors of Silver Falcon Mining, Inc.:
Pierre Quilliam, Chief Executive Officer
Further Information, contact Mr. Rich Kaiser, Investor Relations, 757-306-6090 and/or www.silverfalconmining.com
SFMI cautions that the statements made in this press release constitute forward-looking statements, and makes no guarantees of future performance and actual results or developments may differ materially from the projections in the forward-looking statements. Forward-looking statements are based on the estimates and opinions of management at the time the statements are made.
Contact: Mr. Rich KaiserInvestor Relations757-306-6090