VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 13, 2012) - VMS Ventures Inc. (TSX VENTURE:VMS) ("VMS") is pleased to provide an update on the Reed Copper Project near Flin Flon, Manitoba. VMS owns 30% of the project and its joint venture partner, Hudbay Minerals Inc. (TSX:HBM)(NYSE:HBM) ("Hudbay") owns 70%.
Development activities continue to be on-track and on budget. The trench excavation is complete and ground supporting of the walls is underway with the first development round at the portal expected before the end of September. Grouting of the portal, ventilation raise and escape raise areas is all complete. Office and dry facilities are assembled and water, power and sewage services will be completed this month. The shop and warehouse building is scheduled for completion in December.
VMS Ventures COO Neil Richardson, states: "The Reed Copper Project is going very well. We expect to be at the 60 metre level before winter. Hudbay crews and contactors continue to do an excellent job in getting this deposit to the mining stage and we look forward to seeing the operation advance towards full production."
Mining at the Reed Copper Project is expected to begin by Q4 2013, and is anticipated to ramp up to full production of approximately 1,300 tonnes per day by Q1 2014.
VMS Ventures announced a high-grade copper discovery at Reed grading 10.50 m of 11.19% copper within 43.05 m of 4.38% copper on October 4, 2007 (http://vmsventures.com/Newsroom/Press-Releases/Press-Release-Details/2007/1050Metresof1119CopperWithin4305Metresof438CopperinDrillHole2atVMSVenturesReedLakePropertySnowLakeManitoba/default.aspx).
About VMS Ventures Inc.
VMS Ventures Inc. is focused primarily on acquiring, exploring and developing copper-zinc-gold-silver massive sulphide deposits in the Flin Flon-Snow Lake VMS Belt of Manitoba. The Company's VMS project property portfolio consists of the Reed Copper Project, Reed East/West Project, McClarty Lake Project, Sails Lake Project, Puella Bay Project and Morton Lake Project. Outside of the Snow Lake camp, the Company holds massive sulphide prospective properties near the past producing Fox Lake and Ruttan copper-zinc mines, near the communities of Lynn Lake and Leaf Rapids in northern Manitoba. These properties are located in the mining friendly province of Manitoba, Canada. The Company also has optioned three properties in the Sudbury mining camp. They are Terra Incognita, Golden Pine and Black Creek.
VMS Ventures owns approximately 27M shares of North American Nickel Inc. (TSX VENTURE:NAN). For more information on North American Nickel Inc., please visit www.northamericannickel.com.
Hudbay (TSX:HBM)(NYSE:HBM) is a Canadian integrated mining company with assets in North and South America principally focused on the discovery, production and marketing of base and precious metals. Hudbay's objective is to maximize shareholder value through efficient operations, organic growth and accretive acquisitions, while maintaining its financial strength. A member of the S&P/TSX Composite Index and the S&P/TSX Global Mining Index, Hudbay is committed to high standards of corporate governance and sustainability. Further information about Hudbay can be found on www.hudbayminerals.com.
Forward Looking Statement
Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward-looking statements that involve various risks. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward-looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. VMS Ventures Inc. undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.
ON BEHALF OF THE BOARD OF DIRECTORS
John Roozendaal, B.Sc., President
VMS Ventures Inc.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.