Molybdenum Production Recommences At The Ashdown Mine

Molybdenum Production Recommences At The Ashdown Mine

TORONTO, ON – Win-Eldrich Mines Limited reported the recommencement of production of molybdenum at its 100% owned Ashdown property located in Denio, Nevada.  From May through July of this year, limited mining and milling operations of approximately 20 tons of ore per day had been conducted at Ashdown. Production levels in August increased to approximately 40 tons per day.  New management at Ashdown, under the supervision of Perry Muller, the President of Win-Eldrich, has been able to maintain or exceed the average reserve ore grade of 1.65% Mo reported in the completed National Instrument 43-101 compliant technical report and feasibility study of Ashdown.

During August, the Ashdown mill completed two 10 day production campaigns and produced 92,678 pounds of molybdenum concentrate with an assay of 53.42% molybdenum with a recovery of up to 97%. The product produced met all specifications and was assessed no penalty. Production costs for the month of August were approximately $8.00 US per pound and product was pre-sold at $9.27 US per pound. Significant amounts of rehabilitation and development work were completed at the mine in order to increase the daily ore output and bring it into regulatory compliance.  The Company plans to expand production as the year progresses, producing at least two shipments of molybdenum concentrate per month.  A shipment consists of between 40,000 and 48,000 pounds of molybdenum concentrate.

The company has extended the Ashdown Project’s 293 claims, consisting of approximately 6,000 acres for the 2009-2010 year at a cost of $44,112 US.

The Company’s address is 60 Yonge Street, Toronto, ON M5E 1K3 (416) 307-4060, www.win-eldrich.com.