Reed Copper Project Commences Initial Production
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 10/01/13 -- VMS
Ventures Inc. (TSX VENTURE:VMS) ("VMS Ventures" or the "Company") is
pleased to update shareholders on the progress made at the Reed
Copper Project, near Flin Flon Manitoba. VMS Ventures owns 30% of the
project and is carried to production. Hudbay Minerals Inc. (TSX:HBM)
(NYSE:HBM) ("Hudbay") owns 70% and is the Operator.
VMS Ventures announced today that joint venture partner and operator
Hudbay has received the Environment Act Licence for the Reed Copper
Project from the Manitoba government and has commenced initial
production. The licence permits the operation of the Reed mine, a
1,300 tonnes/day underground copper mine, and its supporting
Hudbay has informed VMS that a bulk sample of approximately 7,000
tonnes of ore was mined under the Advanced Exploration Project permit
and a metallurgical batch test of 4,500 tonnes of ore was milled in
late September at Hudbay's Flin Flon concentrator. The 7,000 tonnes
of ore, from the upper Zone 30, was mainly mined on 65 m Level with
only 1 round (approximately 300 to 400 tonnes) taken on the 45 m
Full production remains on the planned schedule to commence in first
half of 2014 and the project remains within the estimated budget
Neil Richardson, VMS Ventures' COO states: "The receipt of the
Environment Act Licence and the successful extraction of the bulk
sample are both significant milestones for the project. The Licence
confirms the care and diligence taken by our JV partner and operator
Hudbay in moving the project forward within mandated environmental
guidelines while the extraction of the bulk sample project is the
first step towards full production at Reed".
Please visit the VMS website at
http://www.vmsventures.com/investors/photo-gallery to view a slide
show of progress on the Reed Copper Project.
About VMS Ventures Inc.:
VMS Ventures Inc. is focused primarily on acquiring, exploring and
developing copper-zinc-gold-silver massive sulphide deposits in the
Flin Flon-Snow Lake VMS Belt of Manitoba. The Company's VMS project
property portfolio consists of the Reed Copper Project, which is
subject to a 70-30 JV with Hudbay Minerals and is scheduled for
production in Q4-2013, Copper Project, McClarty Lake Project, Sails
Lake Project, Puella Bay Project and Morton Lake Project. Outside of
the Snow Lake camp, the Company holds massive sulphide prospective
properties near the past producing Fox Lake and Ruttan copper-zinc
mines, near the communities of Lynn Lake and Leaf Rapids in northern
Manitoba. These properties are located in the mining friendly
province of Manitoba, Canada. The Company also has optioned the Black
Creek property in the Sudbury mining camp.
VMS Ventures owns approximately 27.5% of North American Nickel Inc.
(TSX VENTURE:NAN). For more information on North American Nickel
Inc., please visit www.northamericannickel.com.
Forward Looking Statement
Some of the statements contained herein may be forward-looking
statements which involve known and unknown risks and uncertainties.
Without limitation, statements regarding potential mineralization and
resources, exploration results, and future plans and objectives of
the Company are forward-looking statements that involve various
risks. The following are important factors that could cause the
Company's actual results to differ materially from those expressed or
implied by such forward-looking statements: changes in the world wide
price of mineral commodities, general market conditions, risks
inherent in mineral exploration, risks associated with development,
construction and mining operations, the uncertainty of future
profitability and the uncertainty of access to additional capital.
There can be no assurance that forward-looking statements will prove
to be accurate as actual results and future events may differ
materially from those anticipated in such statements. VMS Ventures
Inc. undertakes no obligation to update such forward-looking
statements if circumstances or management's estimates or opinions
should change. The reader is cautioned not to place undue reliance on
such forward-looking statements
ON BEHALF OF THE BOARD OF DIRECTORS
John Roozendaal, B.Sc., President
VMS Ventures Inc.
Neither the 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.
VMS Ventures Inc.
(604) 986-2020 or Toll Free: 1-866-816-0118
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