GOLD DEVELOPMENT: McGarry mine inches toward production

ONTARIO – Armistice Resources of Toronto continues to make solid progress towards bringing the McGarry gold mine back into production near Kirkland Lake. The company says also that development and exploration work both underground at McGarry and on surface at the former Kerr-Addison gold mine is progressing as planned.

Hoisting and stockpiling of McGarry ore began in December 2011, and the ore is to be custom milled at SMC (Canada)’s McAlpine mill in Cobalt. Armistice believes its mine will produce 25,000 oz of gold in 2012 and 40,000 oz in 2013.

Armistice has been forced to do repairs and maintenance work on the hoisting system because of the failure of a main bearing on one of the two hoist motors. The hoist is shut down for two or three weeks and that time is being used to advance other construction and maintenance projects that would have required a hoisting shutdown. Those projects include modifications to the headframe so that I will handle double skipping, construction of a temporary headframe on the surface at the vent raise where escapeway ladders are to be installed to the 1250 level.

Read more about the McGarry mine and the latest technical report at www.Armistice.ca.