Aurcana Provides Update on Shafter Project

Aurcana (TSX:AUN) (“Aurcana” or the “Company”) is pleased to provide an update of the Company’s planned exploration drilling programme and process of potentially restarting the Shafter Project.

An exploration drill programme will commence shortly at the Shafter Project, the Company’s first since 2012. A number of targets have been selected for a first-pass test, including historic mineralized intercepts and structures identified in the early 1980’s and geophysical anomalies that have not been tested previously. The exploration programme in 2017 will test targets that are located in favourable geological settings and are outside the mineral resource block model.

Separately the Company is assessing in greater detail, the costs of potentially restarting the Shafter Project, including the costs associated with reopening the underground mine and the extent of the definition drill program needed to confirm available mineralization for immediate mining when and if a production decision is made. A separate in-fill drill programme is being laid out in anticipation of moving forward at the earliest possible date.

Aurcana Corporation owns the Shafter Silver Project in Texas, US. The Shafter Silver Project was put on care and maintenance in December 2013, in part due to depressed silver prices.

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