Cyprium Mining appoints mining contractor for Potosi Silver Mine development

Cyprium Mining Corporation (“Cyprium” or the “Company“) (TSX-V: CUG and CUG.DB) is pleased to announce that it has signed an agreement with Chihuahua, Mexico based mining contractor Bergmann Mexico SA de CV (“Bergmann“) with respect to mine development and other mining activities including drilling, blasting and extraction of mineralized material at the Potosi silver mine.

Mr. Alain Lambert, Chairman and CEO of Cyprium commented: “We appointed Bergmann in February to carry-out the Potosi shaft #3 project which consisted in the rehabilitation and improvement of the extraction capability of the shaft as well as improvement of infrastructure, security and preparation of prospective mining areas at levels 2 to 4 of the mine. Not only did Bergmann complete the project on time and on budget but they also contributed several ideas which strengthened the original plan. ” He added: “Bergmann has a deep and extensive knowledge of the Potosi mine as they were the contractor used by our joint venture partner when the mine was last in production a few years ago.”

Under the supervision of Cyprium’s head geologist Mr. Roberto Banda, Bergmann will perform mining development services which will include pre-mining development activities, extraction of minerals in mine and mine development on a “cost plus” basis. As part of the agreement signed today, Bergmann will also be evaluating and making a recommendation on the possible rehabilitation of shaft #1in order to provide access to additional levels of the mine.

Mr. Lambert concluded: “In the next few days I will be working closely with our team to establish a firm date for the commencement of the extraction activities which will lead to mineralized material being sent to the Aldama plant for processing and then delivery of concentrates to Trafigura Mexico SA de CV.”

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