Oct 27, 2011
Silver Sun Commences Commercial Production at Cherry Hill Gold Mine
Vancouver, British Columbia (October 27th, 2011) -- Silver Sun Resource Corp. ("Silver Sun" or "the Company") is pleased to announce production has started at the wholly owned Cherry Hill gold mine, located in Siskiyou County, California.
The start of operations will focus on accessing the main zone of mineralization in the Q4 portal. The Q4 i-drift is being developed on the vein where initial production is planned. Production may increase over time as additional mining faces and raises are developed. The Company is currently stockpiling the mineralized material at their secured storage facility and expects to begin trucking the throughput to the Merlin mill, which is located approximately 90 miles north in Grants Pass, Oregon, by mid-November.
Mark McLeary, President and CEO of Silver Sun commented, "For Silver Sun to begin mining at the Cherry Hill gold mine is a historical milestone for our young company. Our California mining project should make a positive contribution towards economic development of the city of Yreka by providing employment and support for local businesses, in full respect of the highest environmental standards."
The Company will be providing regular updates with regards to production activities on its quarterly financial statements.
The Company notes that there are no known reserves at Cherry Hill and Silver Sun has not yet reported any mineral resources in compliance with National Instrument 43-101 of the Canadian Securities Administrators. There can be no assurance that any mineral resource will be delineated at Cherry Hill. Any production decision with respect to the Cherry Hill Mine is not to be based on the results of a pre-feasibility study or feasibility study of mineral reserves or mineral resources demonstrating economic or technical viability. Any production decision will be based on estimates of potential grades and quantities of mineralization, along with other available information, including cost estimates. As a result there are significant economic and technical risks of failure associated with any production decision including but not limited to risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; future metallurgy or mining results not being consistent with the Company's expectations; risks related to environmental regulation and liability; political and regulatory risks; and risks related to failure to obtain adequate financing on a timely basis and on acceptable terms.
About Silver Sun Resource Corp.
Silver Sun Resource Corp. is a Canadian-based resource company focused on the acquisition, exploration and development of precious metal deposits in North America. The Company is in the final stages of development of its gold project in Yreka, California and engaged in an on-going work program on the Zacatecas, Salvador, and Mina San Jose properties located within the prolific Zacatecas Silver District in Mexico, as well as its newly acquired Yoreme Silver Project in the mining district of Alamos, Sonora State, Mexico. The Company has an experienced management team with a growth strategy to develop a diversified portfolio of mining projects that can be taken to production in the near-term. The company's design is to add shareholder value through efficient exploration, strategic acquisitions and effective marketing while maintaining a low risk profile through project diversification and sound financial management.
Ian Foreman, P. Geo, is the Company's Qualified Person as defined by National Instrument 43-101, who is responsible for monitoring the supervision and quality control of Silver Sun's exploration programs and who has reviewed and verified the technical information contained in this news release.
ON BEHALF OF THE BOARD OF DIRECTORS
"Mark A. McLeary"
Forward Looking Statements
This news release contains statements that constitute "forward looking information" within the meaning of applicable Canadian provincial securities legislation ("forward-looking statements"). Forward-looking statements often, but not always, are identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect", "targeting" and "intend" and statements that an event or result "may", "will", "would", "should", "could", or "might" occur or be achieved and other similar expressions. Forward-looking statements in this news release include statements regarding the timing and nature of permitting studies, the timing and nature of infrastructure developments and construction, projections of future optimization, production timeline targets, the timing of negotiations with third parties, and the timing and nature of future exploration programs which are dependent on projections which may change as drilling continues, or if unexpected ground conditions are encountered. In addition, areas of exploration potential are identified which will require substantial drilling to determine whether or not they contain similar mineralization to areas which have been explored in more detail. The description of the extent of mineralized zones is not intended to imply that any economically mineable estimate of reserves or resources exists on any of Silver Sun's projects.
The forward-looking statements that are contained in this news release are based on various assumptions and estimates by Silver Sun and involve a number of risks and uncertainties. As a consequence, actual results might differ materially from results forecast or suggested in these forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of Silver Sun to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause the actual results to differ include; risks relating to fluctuations in the price of gold; the inherently hazardous nature of mining-related activities; uncertainties concerning resource estimates; results of exploration, availability of capital and financing on acceptable terms, inability to obtain required regulatory approvals, unanticipated difficulties or costs in any rehabilitation which may be necessary, market conditions and general business, economic, competitive, political and social conditions. These statements are based on a number of assumptions, including assumptions regarding general market conditions, timing and receipt of regulatory approvals, the ability of Silver Sun and other relevant parties to satisfy regulatory requirements, the availability of financing for proposed transactions and programs on reasonable terms and the ability of third-party service providers to deliver services in a timely manner. Although Silver Sun has attempted to identify important factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements, there may be other factors which cause actual results to differ. Forward-looking statements contained herein are made as of the date of this news release and Silver Sun disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.