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Message: Genco Reports Results for First Quarter

Genco Reports Results for First Quarter

posted on May 16, 2009 02:28AM
May 15, 2009
Genco Reports Results for First Quarter
VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 15, 2009) - Genco Resources Ltd. (TSX:GGC) reports results for its first financial quarter ended March 31, 2009.

The Company's net income for the quarter ended March 31, 2009 was $517,982, compared with a net loss of $1,285,407 for the quarter ended March 31, 2008. The Company's net income for the period was attributable to the recognition of a gain relating to the sale of marketable securities.

Genco recorded no production or sales at its La Guitarra Mine during the quarter ended March 31, 2009, due to an illegal blockade of site access by a small group of former employees of La Guitarra's main mining contractor. Genco remains confident that site access will be restored and production will resume at La Guitarra, but cannot predict with certainty when this will occur. The Company has maintained continuous security on site at La Guitarra throughout the blockade and does not believe there will be any significant problems re-initiating production once access is restored.

Full financial statements are available on SEDAR at www.sedar.com and on Genco's corporate website at www.gencoresources.com.

About Genco Resources Ltd.

Genco's core asset is the producing La Guitarra silver-gold mine, located in the Temascaltepec Mining District of Mexico. La Guitarra Mine currently consists of two underground operation centres - La Guitarra and San Rafael - and a flotation mill with a proven capacity of 320 tonnes per day. Genco believes significant potential exists to expand production within the 39,714 hectares of mining concessions it currently owns or leases in the Temascaltepec Mining District.
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