Copper Production At Mineral Park Operation

KINGMAN, AZ - Mercator Minerals Ltd. reported that for the first quarter of 2008, copper production totaled 2.4 million pounds, and with warmer weather a new monthly production record was set at 1.1 million pounds produced in April. Construction continues with significant progress: the bulk of the concrete work is complete with mechanical installation in full swing, and a majority of the equipment is on site including three of the four ball mill shells. The final shell is in Arizona and is due to arrive shortly. The ball mill foundations are
complete.
Additionally, during period, bull gear alignment commenced and the
north and south reclaim tunnels mechanical installation commenced. The main
stacker support pier construction and concentrate thickener foundation work
was completed with steel tank erection is underway. Four of five rougher
flotation tanks were set, with operating mechanisms installation underway.
Structural steel installation of the copper cleaner flotation cells was
completed with all cells in place.
The foundation and motor base for Ball mill number 4 were completed,
with the MCC building construction in progress. The MCC foundation for the
flotation building was completed during the quarter, with the flotation
area pump bases 80% complete. The tower Mill installation, the lime silo,
the tailings drop box and pressure reducing station site prep were also
completed,
Subsequent to the end of the period, the tower crane was certified for
operation and the crusher area excavation was complete and the foundation
work commenced. Blockwork on the MCC building was completed.
Currently, the moly cells and the reclaim conveyors are in the process
of being set, and the crusher foundations are due to be poured shortly. The
water system upgrade is currently underway and due to be completed shortly,
with the expansion project on track for a late summer mill start up.
"Mercator continues its aggressive growth strategy, with strong SX/EW
copper production at its existing Mineral Park operations in Park County, providing strongcash flow, and construction of the Phase 4 copper-molybdenum milling operation on track for a late summer mill start up," said Michael L.
Surratt, President and CEO.
At full capacity, the Mineral Park mine average annual production during the first 10 years is forecast to be approximately 56.4 million pounds of copper, 10.3 million pounds of molybdenum and 0.6 million ounces of silver.
The company's address is HC 37 Box 500, Kingman, AZ 86401, 928-565-2226, fax: 928-565-9239.