AZUCA

Hochschild Mining announce results from a scoping study completed at Azuca project, located in Peru. Results of the scoping study indicate that at base case gold and silver prices of $1,000/oz and $17/oz respectively, the project could return a cumulative total pre-tax cash flow1 of approximately $107 million and 21% IRR. Using spot prices for gold and silver of $1,300/oz and $21.9/oz respectively, the project could return a cumulative total pre-tax cash flow2 of approximately $247 million and 46% IRR. The study assumes initial plant throughput of 750 tonnes per day

Resource delineation is underway at this exciting new discovery. Up to 3 ore shoots have been identified along one structure and drilling has identified additional non-cropping veins that are currently being explored. Intercepts include: 1.0mt at 1.5 g/t Au and 585 g/t Ag; 3.2 mt at 1.1 g/t Au and 565 g/t Ag; 2.4mt at 1.9 g/t Au and 1,003 g/t Ag.

Had results in the second phase of drilling in the first two holes with a 2.40 m drill intercept at 1.0 g/t Au & 1,313 g/t Ag and a 0.95 m drill intercept at 1.4 g/t Au & 556 g/t Ag.