Silver Falcon Mining, Inc. (SFMI) Closes Financing, Moves Forward With NI 43-101 Geological Report
BRADENTON, FL -- (Marketwired) -- 12/12/13 -- Silver Falcon Mining, Inc. (OTCBB: SFMI) announces it closed a financing, which enables SFMI to contract Hanych Geological Consulting, of Collingwood, Ontario, Canada. Hanych will compile, write and publish a Canadian National Instrument NI 43-101 resource/reserve report on behalf of Silver Falcon Mining, Inc.
Additionally, this funding proceed will also be earmarked to be used for exploration and development at SFMI's various claims and properties on and around War Eagle Mountain-Murphy, Idaho.
SFMI's Chairman/CEO Pierre Quilliam states, "The development of this NI 43-101 report should allow the Company to begin the process of bringing forth to our shareholders dollar values of Gold (AU) and Silver (AG) mineralization contained in the major veins on War Eagle Mountain. Through the use of modern geological methods, valuations, and estimates, the Company will be able to develop a comprehensive geological model from sites which have produced, in the past, large amounts of the precious metals."
This private placement financing was made by an accredited Canadian investor, and the shares issued are subject to a six-month hold period expiring on June 9, 2014.
About Silver Falcon Mining, Inc.
SFMI has mineral rights to approximately 1,300 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 crisscrossing the mountain above it and will provide the area population, with employment and services.
For further information, contact Mr. Richard Kaiser, Investor Relations, 757-306-6090 and/or www.silverfalconmining.com.
Silver Falcon Mining, Inc. cautions that the statements made in this press release constitute forward looking statements, and not 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.
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