Primero's San Dimas at Record Levels

DAN ROLLINS, UBS Securities (01/31/2011)
"Primero released a reserve/resource estimate for its San Dimas mine in Mexico. Gold and silver reserves increased 3% to 886kozs and 62.9mozs respectively, more than offsetting reserves mined in 2010. As a result of the 2010 drill campaign, reserves at San Dimas now stand at record levels. Gold and silver resources increase 23% and 16%, respectively. With a larger exploration focus within the Sinaloa Graben deposit, total inferred gold resource increased 23% (+374kozs) and silver inferred resource 16% (+24mozs). Total inferred resources now stand at 2mozs of gold and 179mozs of silver as a result of a combination of exploratory drilling and drifting. . .An increased contribution from the Sinaloa Graben is likely to have a positive impact on future gold and silver reserve grades."

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