VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 24, 2012) - Huldra Silver Inc. (HDA.V) (the "Company" or "Huldra") is pleased to announce that it has entered into a Lead Concentrate Purchase Agreement (the "Agreement") with a smelter whereby Huldra has agreed to sell approximately 1000-2000 dry metric tonnes until March 31, 2013 (initial term). The Company also wishes to announce that it has entered into a Zinc Purchase Agreement to sell approximately 1000-2000 dry metric tonnes until March 31, 2013 (initial term). Payments are tied to bi-monthly prices for lead, zinc and silver as published by the Metal Bulletin, less certain deductions.
The contract is based on expected metallurgical samples from the 10,000 tonne bulk sample with the Lead concentrate expected to grade 66% Pb and 242 oz/ton Ag and the Zinc concentrate assaying 55% Zn. The actual shipments may vary from these levels and the payable amounts may increase or decrease.
Huldra is currently working on plans to put its Treasure Mountain Mine, located three hours east of Vancouver, BC, into development, subject to financing, utilizing a mill being constructed at the Company's mill property outside of Merritt, BC. The Company is also actively assessing other opportunities for acquisition and development.
On behalf of the Board of Directors
Ryan Sharp, MBA, President, CEO & Director
Disclaimer for Forward-Looking Information
This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events related to the Agreement, the Company's proposed exploration plans and its plans to put the Treasure Mountain Property into production. Such forward-looking information can include statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company, such as the Company's ability to produce ore sufficient to meet its obligations under the Agreement; the Company's ability to finance its planned exploration; the Company's ability to source the necessary infrastructure to effect its exploration plans; current economic conditions and the state of mineral exploration and mineral prices in general. These risks and uncertainties could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information. The Company can offer no assurance that its exploration and development plans will be completed in the time expected or at all. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. Except as required by law, the Company assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.
Neither the 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 news release.
Huldra Silver Inc.
President, CEO & Director
email@example.com or IR@huldrasilver.com