Aurcana to Conduct A Best Efforts Non-Brokered Private Placement

Aurcana Corporation (TSX VENTURE:AUN) announced subject to TSX Venture Exchange approval, the terms of the non-brokered private placement.

The press release is quoted as saying:

The Shafter Silver Mine is scheduled to start up production within 18 months of securing permits and financing, producing 3.9 million ounces of silver in the first year. It has a NI 43-101 measured and indicated resource of 24.6 million ounces of silver (2,900,000 tons at 8.48 Ag opt) and an inferred resource of 22.8 million ounces of silver (2,167,000 tons at 10.52 Ag opt) using a 4.0 ounce per ton cut off.

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