Trading Symbol: ADA:TSX; C2Z-Frankfurt
Shares Outstanding: 153,357,907
HALIFAX, Sept. 11 /CNW/ - Acadian Mining Corporation (ADA-TSX) ("Acadian"
or "Corporation") announced today that it remains confident of achieving its
production targets at its Scotia Zinc-Lead Mine in Nova Scotia for the quarter
ended September 30, 2008. A 5,000 tonne parcel of zinc concentrates shipped in
August was produced in approximately 42 days, and a second shipment is
anticipated to be ready by month end. Lead production and shipments are also
in line with targets.
Additional operating costs were incurred during the quarter due to
unscheduled maintenance in the mill and higher fuel costs associated with
increased volumes of pumping due to the highest volume of rain on record for
the month of August. Despite these extra costs, the Corporation expects to be
cash flow positive from operations in the third quarter at current metal
Acadian continues to be on target for meeting its 2008 sales target of
30,000 wet metric tonnes ("WMT") of zinc concentrates and 12,000 WMT of lead
concentrates. The Corporation expects fourth quarter production to be similar
to the third quarter and at current metal prices, cash flow from operations to
show further improvement in the fourth quarter.
Forward Looking Statement
Certain information regarding the Corporation contained herein may
constitute forward-looking statements within the meaning of applicable
securities laws. Forward-looking statements may include estimates, plans,
expectations, opinions, forecasts, projections, guidance or other statements
that are not statements of fact. Although the Corporation believes that the
expectations reflected in such forward-looking statements are reasonable, it
can give no assurance that such expectations will prove to have been correct.
The Corporation cautions that actual performance will be affected by a number
of factors, many of which are beyond the Corporation's control, and that
future events and results may vary substantially from what the Corporation
currently foresees. Discussion of the various factors that may affect future
results is contained in the Corporation's 2007 Annual Report which is
available at www.sedar.com. The Corporation's forward-looking statements are
expressly qualified in their entirety by this cautionary statement.
No regulatory authority has approved or disapproved the contents of this
For further information:
For further information: G. William Felderhof, President & CEO; Terry F.
Coughlan, Vice President, (902) 444-7779, Toll Free: 877-444-7774,