| | Mon Feb 23, 2009
Farallon Commences Shipping Concentrates To Asian Smelters
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| | February 23, 2009, Vancouver, BC - Dick Whittington, President and CEO of Farallon Resources Ltd. ("Farallon" or the "Company") (TSX:FAN) is pleased to announce that Farallon has commenced the shipping of zinc, copper, and lead concentrates from the Port of Manzanillo, Mexico to smelters in Asia. This marks the first and second loads of concentrates from the G-9 Mine onto vessels for shipment to the smelters.
Farallon has been trucking concentrates to the port of Manzanillo since October 12, 2008 (see Farallon News Release October 16, 2008). Since that time Farallon has been building an inventory of concentrates available to maintain regular shipments on a going forward basis.
On February 12, 2009, Farallon shipped approximately 5,500 tonnes of zinc concentrate, 1,000 tonnes of lead concentrate, and 500 tonnes of copper concentrate onboard the vessel "Miltiadis Junior II", which called into Manzanillo with the final destination ports of Onsan, South Korea, Jinzhou, China, and Lianyungang, China. Farallon's second shipment of concentrates included approximately 5,300 tonnes of zinc concentrate, and 500 tonnes of copper concentrate aboard the vessel "Ocean Star" which sailed on February 21, 2009 to the respective destination ports of Onsan, South Korea and Nanjing, China.
For photos of the loading of the G-9 concentrates on to the vessels, please follow the link below to view:
http://www.farallonresources.com/i/fan/photo--gallery/index.html
President and CEO Dick Whittington stated "The commencement of vessel shipments is yet another significant milestone in the overall development of the G-9 Mine. This initiates our off-take agreements with Trafigura Beheer BV Amsterdam and revenue generation has now started for the Company. Everyone associated with Farallon should be very proud as the start of vessel shipments is a very important step in that process. "
Farallon has advanced the G-9 polymetallic (zinc, copper, silver, gold, lead) project at its Campo Morado Property in Mexico through a 'Parallel Track' program. Surface facilities were largely completed in mid 2008, followed by mill commissioning and underground stope development during the balance of 2008. The mine is currently in production and targeting reaching design capacity of 1500 tpd in February 2009.
For further details on Farallon Resources Ltd., please visit the Company's website at www.farallonresources.com or contact Investor Services at 604-638-2160.
ON BEHALF OF THE BOARD OF DIRECTORS
J.R.H. (Dick) Whittington
President and CEO
No regulatory authority has approved or disapproved the information contained in this news release.
Forward Looking Information
This release includes certain statements that may be deemed "forward-looking statements." All statements in this release, other than statements of historical facts, that address future production, reserve or resource potential, continuity of mineralization, exploration drilling, operational activities, production rates, costs to completion and events or developments that the Company expects are forward-looking statements. Although the Company believes that the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward looking statements and may require achievement of a number of operational, technical, economic and legal objectives. The likelihood of continued future mining at Campo Morado is subject to a large number of risks, including obtaining lower than expected grades and quantities of mineralization and resources, lower than expected mill recovery rates and mining rates, changes in and the effect of government policies with respect to mineral exploration and exploitation, the possibility of local disputes including blockades of the company's property, the possibility of adverse developments in the financial markets generally, fluctuations in the prices of zinc, gold, silver, copper and lead, obtaining additional mining and construction permits, preparation of all necessary engineering for ongoing underground and processing facilities as well as receipt of additional financing to fund mine construction, development and operation, if needed. Such funding may not be available to the Company on acceptable terms or on any terms at all. There is no known ore at Campo Morado and there is no assurance that the mineralization at Campo Morado will ever be classified as ore. For more information on the Company and the risk factors inherent in its business, investors should review the Company's Annual Information Form at www.sedar.com and the Company's annual report on Form 40-F at www.sec.gov. |
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| | You can view the Next News Releases item: Tue Feb 24, 2009, Mexican Court Rules On Hermiston Civil Case; Court Finds Final Appeal Without Merit - Case Is Closed
You can view the Previous News Releases item: Fri Feb 13, 2009, Farallon Announces Private Placement Financing to Raise $10 Million
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