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Message: Soho Begins Pre-Feasibility Work for Tahuehueto Project
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 24, 2011) - Soho Resources Corp. (TSX VENTURE:SOH) ("Soho" or the "Company") is pleased to announce that Knight Piesold Ltd. has been retained to conduct geotechnical and water/waste management design studies for Soho's Tahuehueto Project in Durango, Mexico. This work is the first step in working towards completing a pre-feasibility study for the Tahuehueto Project as the Company advances the project towards a production decision.
Knight Piesold will begin immediately with an initial phase of work that concentrates on high priority items identified in the Preliminary Economic Assessment released on October 4, 2010, (the "PEA"). Knight Piesold's studies will include, a geotechnical assessment of the proposed El Creston open pit, geotechnical input and assessment to the possible open pit at Cinco de Mayo (not included in the PEA), plus the investigation of one or more, Mine Development Concepts ("MDC") where each MDC would be a combination of alternative mine access points, plant-site locations, waste rock and tailings storage facility locations and water management concepts, to ultimately arrive at an overall optimum MDC.
About Knight Piesold
Knight Piesold is a specialized international consulting company offering engineering and environmental services in Mining, Environment, Hydropower, Water Resources, Roads & Construction services around the world. They are committed to sustainable mining that recognizes social, environmental and economic responsibilities. Their specialized expertise related to tailings and mine waste management, waste characterization, heap leach pads, rock mechanics, water management, permitting and environmental services is directly relevant to upholding these principles.
About Soho Resources Corp.
Soho Resources Corp. is an exploration and development company strategically focused on gold, silver and base metals in the prolific Sierra Madre Belt of Mexico.
The Company has been conducting an exploration and drilling program to expand and upgrade its resources at its flagship Tahuehueto Project in Durango State and on October 4, 2010 announced the results of a Preliminary Economic Assessment ("PEA") completed by Snowden Mining Industry Consultants Inc. Key findings from the report included:
Summary of PEA Estimates
Net cash flow
$US 184.2 million
Net present value (NPV) 5% discount
$US 109.6 million
Internal rate of return %
Payback period (months)
Mine life (years)
Maximum processing rate (tonnes/annum)
Capital and start-up costs
$US 89.1 million
The Tahuehueto Project is a classic epithermal system hosting multiple structures traced for up to six kilometers of strike length. Considerable upside exploration potential remains on the existing explored resource structures both down dip and along strike, as well as on numerous other unexplored mineralized structures.
This press release was prepared under the supervision and review of Ralph Shearing, President and CEO of Soho Resources Corp., a Licensed Geologist, and Qualified Person as defined by NI 43-101.
Definitions used in this release are consistent with those adopted by the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") Council in December 2005, as amended, and prescribed by the Canadian Securities Administrator's National Instrument 43-101 and Form 43-101F1, Standards of Disclosure for Mineral Projects. Mineral resources are not mineral reserves and do not have demonstrated economic viability.
ON BEHALF OF THE BOARD OF DIRECTORS
Ralph Shearing, Chief Executive Officer
WARNING: The Company relies upon litigation protection for "forward-looking" statements. This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of up-coming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Soho Resources Corp. relies upon litigation protection for forward-looking statements.
Shares Issued - 185,533,676
Last Close $0.13 - February 23, 2011
FOR FURTHER INFORMATION PLEASE CONTACT: Mr. Glen Sandwell
Soho Resources Corp.
(604) 684-8071 or Toll Free: 1-800-685-0576
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