(All amounts in US dollars, unless otherwise indicated)
Vancouver, January 4, 2019 – Leagold Mining Corporation (TSX:LMC; OTCQX:LMCNF) (“Leagold” or the “Company”) reports 2018 gold production of 302,550 ounces (oz), achieving the revised guidance range of 295,000 to 305,000 oz for its four wholly owned gold mines: the Los Filos mine in Mexico, and the RDM, Fazenda, and Pilar mines in Brazil. Leagold ended 2018 with an estimated cash balance of $53 million and expects full year AISC to be similar to the nine months ended September 30, 2018 of $979/oz. Full financial results and additional operating details will be reported in mid-March upon completion of the year-end financial statements and MD&A.
Table 1: 2018 Gold Production by Quarter (oz)
Mine Q1 2018 Q2 2018 Q3 2018 Q4 2018 Full-year 2018
Los Filos 51,003 43,541 42,617 58,201 195,362
RDM (1)(2) - 7,889 16,596 4,913 29,398
Fazenda (1) - 7,460 20,167 19,041 46,668
Pilar (1) - 5,627 13,889 11,606 31,122
Total 51,003 64,517 93,269 93,761 302,550
(1) For Q2 2018, the results for RDM, Fazenda and Pilar are included in Leagold’s results for the 38-day post-Acquisition period from May 24, 2018 to June 30, 2018 (inclusive).
(2) During Q4 2018, the RDM mine experienced a temporary shut-down from early October until November 20 due to regional drought conditions.
Leagold CEO Neil Woodyer commented: “2018 was a transformative year for Leagold, as we evolved from a single mine operator into a diversified group with four mines in two countries. Among our Brazilian mines, Fazenda and Pilar both performed as expected in Q4, and the RDM mine was restarted ahead of schedule in late November when the rainy season replenished water supplies. In Mexico, the Los Filos mine demonstrated significant production growth with 25,404 oz produced in December as gold recovery rates are normalizing and resulting in a new record quarterly production of 58,201 oz since our acquisition of the mine in April 2017.
“Leagold is well positioned to deliver increased production and cash flow in 2019. Studies related to the expansion of Los Filos mine are expected to be released next week. Following this, we will provide 2019 gold production and AISC guidance.”
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