Notification of Arbitration Decision Not Received

RNS Number : 0610G

Fresnillo PLC

05 May 2011

 



Fresnillo PLC

5 May 2011

Fresnillo Plc

28 Grosvenor Street

London W1K 4QR

United Kingdom

www.fresnilloplc.com

Notification of Arbitration Decision Not Received

Fresnillo PLC said today it has not yet received any official notification of the decision from an Arbitration Panel formed according to the rules of the International Chamber of Commerce with respect to an arbitration proceeding initiated by MAG Silver Corp ("MAG"), Fresnillo's joint venture partner in the advanced exploration stage Juanicipio silver project in Mexico.

Fresnillo has made this announcement following an earlier press release issued by MAG and will make a further announcement once the official notification of the decision has been received.

For further information on Fresnillo, please visit our website: www.fresnilloplc.com or contact:

Fresnillo plc

London Office

Arturo Espinola

Head of Investor Relations                    Tel: [phone]

Mexico City Office

Gabriela Mayor                                    Tel: [phone]

For European Media

Brunswick Group

Carole Cable                                        Tel: [phone]

David Litterick

For North American Media

Longview Communications Inc.

Alan Bayless                                         Tel: [phone]

About Fresnillo plc

Fresnillo plc is the world's largest primary silver producer and Mexico's second largest gold producer, listed on the London and Mexican Stock Exchanges under the symbol FRES.

Fresnillo has five producing mines, all of them in Mexico - Fresnillo, Ciénega, Herradura, Soledad-Dipolos and Saucito; one development project - Noche Buena; and six advanced exploration prospects - San Ramon, San Julián, Orysivo, Centauro Deep, Las Casas and Juanicipio, as well as a number of other long term exploration prospects and, in total, has mining concessions covering approximately 1.91 million hectares in Mexico.

Fresnillo has a strong and long tradition of mining, a proven track record of mining development and reserves replacement, and a low cost of production, being in the lowest quartile of the cost curve for both silver and gold.

Fresnillo's goal is to maintain the Group's position as the world's largest primary silver company, producing 65 million ounces of silver and over 400,000 ounces of gold by 2018.

 

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