Telson Releases New Mineral Resource Estimate for Campo Morado

Press Releases

October 30, 2017

Vancouver, British Columbia, Wednesday November 8, 2017.  

Telson Resources Inc. ("Telson" or the "Company") (TSX Venture – TSN.V) is very pleased to announce the completion of a new Canadian National Instrument NI 43-101 mineral resource estimate for its Campo Morado property in Guerrero State, Mexico (“Campo Morado”).  This resource estimate has been prepared by Eric Titley P.Geo. of Titley Consulting Limited based in Vancouver, British Columbia.


These resources estimates have been prepared in accordance with NI 43-101 and the CIM Definition Standards. Inferred mineral resources are considered to be too speculative to allow the application of technical and economic parameters to support mine planning and evaluation of the economic viability of the project. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or pre-feasibility studies, or economic studies except for Preliminary Economic Assessments as defined under 43-101. It cannot be assumed that all or any part of the Inferred resources will ever be upgraded to a higher category.

The mineral resources were depleted to December 2014, the last phase of mining, by removing all material from the tabulation as found in the excavation solids models provided by Telson Resources.

Zinc equivalent calculations used metal prices of USD$1.20/lb zinc, US$2.80/lb for copper, US$17/oz for silver, US$1150/oz for gold and US$0.90/lb for lead and metallurgical recoveries of 70% for zinc, 68% for copper, 38% for silver, 25% for gold and 60% for lead.

A 5.5% ZnEq cut-off is considered to be appropriate for underground mining operations in Mexico. All mineral resource estimates, cut-offs and metallurgical recoveries are subject to change as a consequence of more detailed economic analyses that would be required in pre-feasibility and feasibility studies. The 5.5% ZnEq cut-off in bold is considered the base case mineral resource estimate. Other estimates are presented in the context of cut-off grade sensitivity analysis.

Some figures may not sum exactly due to rounding.

The data in the global resource table above is a compilation of the five individual zones shown in following tables.

The Company will file a technical report supporting the mineral resource estimate on SEDAR within 45 days of this news release.

About Telson Resources Inc.

Telson Resources Inc. is a Canadian based mining company producing gold, silver and base metal from its two Mexican Mine Projects. Telson's Tahuehueto Project, located in north-western Durango State, Mexico and its recently acquired Campo Morado Mine in Guerrero, Mexico are both polymetallic deposits containing significant gold, silver, lead, zinc and copper. Telson is currently mining and procession at its 100% owned Campo Morado Mine at a rate of approximately 1,400 tonnes per day and at its 100% owned Tahuehueto Mine Project at a rate of approximately 150 tonnes per day and direct shipping Tahuehueto preproduction to a toll mill for processing off-site.


On behalf of the board of directors

(signed) “Ralph Shearing”

Ralph Shearing, P.Geol, President and Director

Qualified Person

This press release was prepared under the supervision and review of Eric Titley, P.Geo. a Professional Geologist registered in British Columbia as a member of the Association of Professional Engineers and Geoscientists BC.  Mr. Titley is the independent qualified person, as defined in NI 43-101, who is responsible for the preparation of the technical information contained in this news release.

Cautionary Note Regarding Forward-Looking Statements

Statements contained in this news release that are not historical facts are “forward-looking information” or “forward-looking statements” (collectively, “Forward-Looking Information”) within the meaning of applicable Canadian securities laws. Forward Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; the timing and costs of future activities on the Company’s properties, such as production rates and increases; success of exploration, development and bulk sample processing activities; and timing for processing at its own mineral processing facility on the Tahuehueto project site. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as “plans”, “expects”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or variations of such words and phrases. In preparing the Forward-Looking Information in this news release, the Company has applied several material assumptions, including, but not limited to, that the current exploration, development, environmental and other objectives concerning the Campo Morado Mine and the Tahuehueto Project can be achieved, the continuity of the price of gold and other metals, economic and political conditions and operations. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, the Company does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events

For further information about Telson Resources Inc., please contact:

Glen Sandwell

Corporate Communications Manager

Tel: +1 (604) 684-8071

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