VANCOUVER, April 17, 2016 /CNW/ - Pan American Silver
Corp. (NASDAQ: PAAS; TSX: PAA) ("Pan American" or the
"Company") reported that a labour conflict with the union of mine
workers has resulted in a work stoppage at its Manantial Espejo
mine, in the province of Santa
Cruz, Argentina.
The operations at the mine were stopped on April 13, 2016. Essential power supply,
mine dewatering, maintenance and safety-related work activities at
the mine continue normally.
The Company remains open to dialogue with the union and hopes
for a prompt resolution to the conflict. At the moment, management
believes that the situation can be resolved without jeopardizing
its full-year consolidated production projections.
About Pan American Silver
Pan American Silver's
mission is to be the world's pre-eminent silver producer, with a
reputation for excellence in discovery, engineering, innovation and
sustainable development. The Company has seven operating mines in
Mexico, Peru, Argentina and Bolivia. Pan American also
owns several development projects in the USA, Mexico,
Peru and Argentina. Pan American is located at 1500 -
625 Howe Street, Vancouver, British
Columbia, V6C 2T6.
THIS NEWS RELEASE CONTAINS "FORWARD-LOOKING STATEMENTS"
WITHIN THE MEANING OF THE UNITED
STATES PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND
"FORWARD-LOOKING INFORMATION" WITHIN THE MEANING OF APPLICABLE
CANADIAN SECURITIES LEGISLATION. STATEMENTS CONTAINING
FORWARD-LOOKING INFORMATION EXPRESS, AS AT THE DATE OF THIS NEWS
RELEASE, THE COMPANY'S PLANS, ESTIMATES, FORECASTS, PROJECTIONS,
EXPECTATIONS, OR BELIEFS AS TO FUTURE EVENTS OR RESULTS.
GENERALLY, FORWARD-LOOKING INFORMATION CAN BE IDENTIFIED BY
THE USE OF FORWARD-LOOKING TERMINOLOGY SUCH AS "PLANS", "PROJECTS"
OR "PROJECTED", "EXPECTS" OR "DOES NOT EXPECT", "IS EXPECTED",
"ESTIMATES", "FORECASTS", "SCHEDULED", "INTENDS", "ANTICIPATES" OR
"DOES NOT ANTICIPATE", OR "BELIEVES", OR VARIATIONS OF SUCH WORDS
AND PHRASES, OR STATEMENTS THAT CERTAIN ACTIONS, EVENTS OR RESULTS
"MAY", "CAN", "COULD", "WOULD", "MIGHT" OR "WILL BE TAKEN", "OCCUR"
OR "BE ACHIEVED". SUCH FORWARD-LOOKING STATEMENTS AND
INFORMATION INCLUDE, BUT ARE NOT LIMITED TO STATEMENTS AS TO: THE
CONSEQUENCES OF ANY WORK STOPPAGES; THE IMPACTS TO PRODUCTION AT
THE MANANTIAL ESPEJO MINE AND THE ABILITY THE COMPANY TO ACHIEVE
PREVIOUSLY REPORTED PRODUCTION ESTIMATES; THE ABILITY OF THE
COMPANY TO RESOLVE THE LABOUR DISPUTE AND THE TIMING FOR THE SAME;
AND THE ABILITY OF PAN AMERICAN TO PREVENT ADDITIONAL NEGATIVE
IMPACTS TO ITS OPERATIONS AS A RESULT OF THE LABOUR
DISPUTE.
THESE STATEMENTS REFLECT THE COMPANY'S CURRENT VIEWS WITH
RESPECT TO FUTURE EVENTS AND ARE NECESSARILY BASED UPON A NUMBER OF
ASSUMPTIONS AND ESTIMATES THAT, WHILE CONSIDERED REASONABLE BY THE
COMPANY, ARE INHERENTLY SUBJECT TO SIGNIFICANT BUSINESS, ECONOMIC,
COMPETITIVE, POLITICAL AND SOCIAL UNCERTAINTIES AND
CONTINGENCIES. MANY FACTORS, BOTH KNOWN AND UNKNOWN, COULD
CAUSE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS TO BE MATERIALLY
DIFFERENT FROM THE RESULTS, PERFORMANCE OR ACHIEVEMENTS THAT ARE OR
MAY BE EXPRESSED OR IMPLIED BY SUCH FORWARD-LOOKING STATEMENTS
CONTAINED IN THIS NEWS RELEASE AND THE COMPANY HAS MADE ASSUMPTIONS
AND ESTIMATES BASED ON OR RELATED TO MANY OF THESE FACTORS.
SUCH FACTORS INCLUDE, WITHOUT LIMITATION: RISKS RELATED TO THE
TECHNOLOGICAL AND OPERATIONAL NATURE OF THE COMPANY'S BUSINESS;
CHANGES IN NATIONAL AND LOCAL GOVERNMENT, LEGISLATION, TAXATION,
CONTROLS OR REGULATIONS AND POLITICAL OR ECONOMIC
DEVELOPMENTS IN CANADA,
THE UNITED STATES, MEXICO, PERU,
ARGENTINA, BOLIVIA OR OTHER COUNTRIES WHERE THE COMPANY
MAY CARRY ON BUSINESS IN THE FUTURE; RISKS AND HAZARDS ASSOCIATED
WITH THE BUSINESS OF MINERAL EXPLORATION, DEVELOPMENT AND MINING
(INCLUDING ENVIRONMENTAL HAZARDS, INDUSTRIAL ACCIDENTS, UNUSUAL OR
UNEXPECTED GEOLOGICAL OR STRUCTURAL FORMATIONS, PRESSURES, CAVE-INS
AND FLOODING); INADEQUATE INSURANCE, OR INABILITY TO OBTAIN
INSURANCE, TO COVER THESE RISKS AND HAZARDS; EMPLOYEE RELATIONS;
AVAILABILITY AND INCREASING COSTS ASSOCIATED WITH MINING INPUTS AND
LABOUR; THE SPECULATIVE NATURE OF MINERAL EXPLORATION AND
DEVELOPMENT, INCLUDING THE RISKS OF OBTAINING NECESSARY LICENSES
AND PERMITS AND THE PRESENCE OF LAWS AND REGULATIONS THAT MAY
IMPOSE RESTRICTIONS ON MINING; GLOBAL FINANCIAL CONDITIONS;
CHALLENGES TO, OR DIFFICULTY IN MAINTAINING, THE COMPANY'S TITLE TO
PROPERTIES AND CONTINUED OWNERSHIP THEREOF; CONCLUSIONS OF ECONOMIC
EVALUATIONS, AND CHANGES IN PROJECT PARAMETERS TO DEAL WITH
UNANTICIPATED ECONOMIC OR OTHER FACTORS; INCREASED COMPETITION IN
THE MINING INDUSTRY FOR PROPERTIES, EQUIPMENT, QUALIFIED PERSONNEL,
AND THEIR COSTS; AND THOSE FACTORS IDENTIFIED UNDER THE CAPTION
"RISKS RELATED TO PAN AMERICAN'S BUSINESS" IN THE COMPANY'S MOST
RECENT FORM 40-F AND ANNUAL INFORMATION FORM FILED WITH
THE UNITED STATES SECURITIES AND
EXCHANGE COMMISSION AND CANADIAN PROVINCIAL SECURITIES REGULATORY
AUTHORITIES. INVESTORS ARE CAUTIONED AGAINST ATTRIBUTING UNDUE
CERTAINTY OR RELIANCE ON FORWARD-LOOKING STATEMENTS. ALTHOUGH
THE COMPANY HAS ATTEMPTED TO IDENTIFY IMPORTANT FACTORS THAT COULD
CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY, THERE MAY BE OTHER
FACTORS THAT CAUSE RESULTS NOT TO BE AS ANTICIPATED, ESTIMATED,
DESCRIBED OR INTENDED. THE COMPANY DOES NOT INTEND, AND DOES NOT
ASSUME ANY OBLIGATION, TO UPDATE THESE FORWARD-LOOKING STATEMENTS
OR INFORMATION TO REFLECT CHANGES IN ASSUMPTIONS OR CHANGES IN
CIRCUMSTANCES OR ANY OTHER EVENTS AFFECTING SUCH STATEMENTS OR
INFORMATION, OTHER THAN AS REQUIRED BY APPLICABLE LAW.
SOURCE Pan American Silver Corp.