SB: TSX Venture Exchange
Issued: 75,887,611 shares
CALGARY, May 29, 2013 /CNW/ - Stratabound Minerals Corp. (TSXV: SB) is pleased to announce that it has received a provisional payment of
$6,094,667 (CDN) from Xstrata Zinc for concentrates produced from
lead-zinc-silver-gold-copper ore delivered from Stratabound's Captain
North Extension (CNE) Mine to Xstrata's Brunswick mill for custom
processing in April 2013.
Based on April 2013 metal prices and exchange rates, this amount
represents 80% of the total revenue to be received by Stratabound.
Final settlement will be based on average metal prices and exchange
rates for the month of June 2013.
Milling and marketing fees of $1,934,695 (CDN) were paid in full to
Xstrata. Provisional revenue received net of these fees was
A total of 62,720 dry metric tonnes (DMT) was milled at an average grade
of 8.13% zinc, 3.22% lead, and 111 g/t silver producing 6,239 DMT of
zinc concentrate grading 54.55% zinc; 2,122 DMT of lead concentrate
grading 41.51% lead and 919 g/t silver; 1,541 DMT of bulk concentrate
with 42.21% zinc, 16.27% lead, and 491 g/t silver; and 50 DMT of copper
concentrate grading 12.41% copper and 2,436 g/t silver.
Payable metals in concentrates were 7,540,148 lbs zinc; 2,251,257 lbs
lead; 75,513 oz silver, 12,462 lbs copper; and 144 oz gold. These
payable amounts were subject to standard smelter charges and
concentrate freight, handling and financing charges by Xstrata.
A $1,400,000 production loan announced in a news release dated November
21, 2012 has been repaid, and Stratabound anticipates that an $850,000
loan that was used to post reclamation bonds will be repaid on the due
date, June 30, 2013.
The technical information contained in this release has been reviewed by
Stan Stricker, P.Geol., a Qualified Person as defined in National
Neither 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 release.
WARNING: the Company relies upon litigation protection for "forward
looking" statements. The information in this release may contain
forward-looking information under applicable securities laws. This
forward-looking information is subject to known and unknown risks,
uncertainties and other factors that may cause actual results to differ
materially from those implied by the forward-looking information.
Factors that may cause actual results to vary materially include, but
are not limited to, inaccurate assumptions concerning the exploration
for and development of mineral deposits, currency fluctuations,
unanticipated operational or technical difficulties, changes in laws or
regulations, the risks of obtaining necessary licenses and permits,
changes in general economic conditions or conditions in the financial
markets and the inability to raise additional financing. Readers are
cautioned not to place undue reliance on this forward-looking
information. The Company does not assume the obligation to revise or
update this forward-looking information after the date of this release
or to revise such information to reflect the occurrence of future
unanticipated events, except as may be required under applicable
SOURCE: Stratabound Minerals Corp.
For further information:
Stan Stricker, P. Geol, President
403-258-3630, firstname.lastname@example.org, www.stratabound.com