Last checked at 5 May 2011 18:27
Fresnillo PLC
5 May 2011
Fresnillo Plc
28 Grosvenor Street
London W1K 4QR
United Kingdom
www.fresnilloplc.com
Notification of Arbitration Decision Not Received
Fresnillo PLC said today it has not yet received any official notification of the decision from an Arbitration Panel formed according to the rules of the International Chamber of Commerce with respect to an arbitration proceeding initiated by MAG Silver Corp ("MAG"), Fresnillo's joint venture partner in the advanced exploration stage Juanicipio silver project in Mexico.
Fresnillo has made this announcement following an earlier press release issued by MAG and will make a further announcement once the official notification of the decision has been received.
For further information on Fresnillo, please visit our website: www.fresnilloplc.com or contact:
Fresnillo plc
London Office
Arturo Espinola
Head of Investor Relations Tel: +44(0)20 7339 2470
Mexico City Office
Gabriela Mayor Tel: +52 55 52 79 3203
For European Media
Brunswick Group
Carole Cable Tel: +44(0)20 7404 5959
David Litterick
For North American Media
Longview Communications Inc.
Alan Bayless Tel: +1 604 694 6035
About Fresnillo plc
Fresnillo plc is the world's largest primary silver producer and Mexico's second largest gold producer, listed on the London and Mexican Stock Exchanges under the symbol FRES.
Fresnillo has five producing mines, all of them in Mexico - Fresnillo, Ciénega, Herradura, Soledad-Dipolos and Saucito; one development project - Noche Buena; and six advanced exploration prospects - San Ramon, San Julián, Orysivo, Centauro Deep, Las Casas and Juanicipio, as well as a number of other long term exploration prospects and, in total, has mining concessions covering approximately 1.91 million hectares in Mexico.
Fresnillo has a strong and long tradition of mining, a proven track record of mining development and reserves replacement, and a low cost of production, being in the lowest quartile of the cost curve for both silver and gold.
Fresnillo's goal is to maintain the Group's position as the world's largest primary silver company, producing 65 million ounces of silver and over 400,000 ounces of gold by 2018.