News Column

Aurcana Closes $5,060,000 Equity Financing

June 24, 2014



ENP Newswire - 24 June 2014

Release date- 20062014 - Vancouver, BC - Aurcana Corporation (TSXV: AUN, OTCQX: AUNFF) is pleased to announce that it has closed its previously announced private placement.

The Offering was fully subscribed and the over-allotment option was exercised in full. The Company issued an aggregate of 9,200,000 units (each unit a 'Unit') of the Company at a purchase price of Cdn$0.55 per Unit (the 'Purchase Price') for gross proceeds to the Company of Cdn$5,060,000. Each Unit consists of one common share (a 'Share') of the Company and one common share purchase warrant (each a 'Warrant'). Each Warrant entitles the holder to purchase an additional common share (a 'Warrant Share') of the Company at an exercise price of Cdn$0.80 per Warrant Share for a period of 36 months from the closing of the Offering.

Dundee Securities Ltd. acted as the underwriter for the Offering. The Company paid to the Underwriter a commission of 6% of the gross proceeds of the Offering which was paid by the issuance of an aggregate of 532,908 Units. In addition, the Company issued to the Underwriter a compensation warrant which entitles the Underwriter to purchase up to 532,908 common shares of the Company (equal to 6% of the number of Units sold under the Offering), exercisable at the Purchase Price for a period of 24 months from the Closing.

All securities issued in connection with the Offering are subject to a hold period under applicable Canadian securities laws expiring four months and one day following the issuance of the securities.

The net proceeds from the Offering will be used for the acquisition of mining equipment at the La Negra mine, exploration drilling at the La Negra property and for general working capital purposes.

About Aurcana Corporation

Aurcana Corporation is a primary silver producing company with two properties: the La Negra Mine in Mexico and the Shafter project in Texas, US. The latter was put on care and maintenance in December 2013, in part due to depressed silver prices. The Company continues to plan further expansion at its La Negra Mine and to focus on surface exploration on its extensive land holdings in the Maconi Mining District.

Corporate

The Company's shares are also traded in the United States on OTCQX under the symbol 'AUNFF'. Investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on www.otcqx.com and www.otcmarkets.com.

Contact:

Aurcana Corporation

Lenic Rodriguez

President & CEO

Tel: (604) 331-9333

Toll Free: (866) 532-9333

Fax: (604) 633-9179

Email: ir@aurcana.com

www.aurcana.com

Gary Lindsey

Investor Relations

Tel: 720-273-6224

Email: gary@strata-star.com

This news release contains certain forward-looking statements, including statements the use of the net proceeds of the Offering, future plans and objectives of the Company.

Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as 'expects' or does not expect', 'is expected', anticipates' or 'does not anticipate' 'plans', 'estimates' or 'intends' or stating that certain actions, events or results ' may', 'could', 'would', 'might' or 'will' be taken, occur or be achieved) are not statements of historical fact and may be 'forward-looking statements'.

Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to materially differ from those reflected in the forward-looking statements.

Actual results may differ materially from results contemplated by the forward-looking statements. Important factors that could differ materially from the Company's expectations include, among others, risks related to international operations, unsuccessful exploration results, the ability of suppliers to provide equipment, the availability of skilled labour, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as changes in metal prices, changes in the availability of funding for mineral exploration and development, unanticipated changes in key management personnel and general economic conditions.

When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements, oral or written, made by itself or on its behalf, except as required pursuant to applicable securities laws. Accordingly, readers should not place undue reliance on forward-looking statements.


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Source: ENP Newswire


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