Northern Vertex announces Feasibility Study Results for Moss Mine Project

Gold-Silver Mining Project

Northern Vertex announces Feasibility Study Results for Moss Mine Project

Northern Vertex Mining Corp. announced the results of a recently completed Feasibility Study on the Moss Gold-Silver Project located in Mohave County, Arizona. The Feasibility Study envisions an open-pit mining operation with crushing, agglomeration and stacking of ore onto a conventional heap leach pad. The Project has been designed to have a 5 year mine life at a projected mining rate of 5,000 tonnes per day.
(ed. WoMaMarcel - 09/6/2015)
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Northern Vertex Mining's Moss Gold-Silver Project, located in Mohave County (AZ), USA, has been designed to have a 5 year mine life at a projected mining rate of 5000 t/d.

Vancouver (BC), Canada – The Feasibility Study, which was completed on time and on budget, was prepared in accordance with standard industry practices and is summarized and disclosed in accordance with Canadian Securities Administrators NI 43 - 101 (Standards of Disclosure for Mineral Projects). The Feasibility Study will also serve as the "Bankable Feasibility Study" ("BFS") required by the Company's 2011 Exploration and Option to Enter Joint Venture Agreement, Moss Mine Project with Patriot Gold Corp. (the "Earn-in Agreement"). Under the Earn-in Agreement, Northern Vertex will earn 70% of the Project with the BFS being the final material requirement of the earn-in.

The Feasibility Study envisions an open-pit mining operation with crushing, agglomeration and stacking of ore onto a conventional heap leach pad. Gold and silver recovery will be achieved by a Merrill Crowe process to produce doré bar at the project site. The Project has been designed to have a 5 year mine life at a projected mining rate of 5000 t/d. All dollars are in US dollars.

The Moss Gold-Silver Project encompasses 15 patented lode claims covering 102.8 hectares and 468 unpatented lode claims for a total of 4030.8 hectares. The focus of the Feasibility Study is the gold-silver mineralization associated with the Moss Vein, the West Extension and adjacent stockworks on the patented claims. All of the project facilities, including the open-pit, heap leach pad, waste dumps and other ancillary works are designed to be constrained wholly within the patented claims.

The Feasibility Study is based on contract mining for the full 5 year mine life. Mine production will ramp up from an initial 2500 t/d at Month 1, to 3500 t/d at Month 7 and then full production of 5000 t/d in Month 13. The base assumptions assume a gold price of USD 1250/oz and a silver price of USD 20/oz for the life of the project. Consumable prices for process reagents, cement, cyanide and fuel are based on quotes received from local vendors. Capital is based on equipment quotes received from suppliers and service providers.

Dick Whittington, President and CEO, states: "We are delighted that the Feasibility Study re-affirms the Moss Mine to be an economically robust, higher margin, lower risk project in one of the world's premier mining jurisdictions. We look forward to building on this solid foundation to position ourselves as a premier, development stage, junior gold mining company. We are also pleased to have now completed the final requirement of our earn-in. We will be formally submitting the BFS to Patriot shortly. We believe the BFS will clearly comply with our Earn-in Agreement and provide the Company with another transformative milestone going forward.

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