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Great Panther Secures $10 Million Credit Facility

|Includes: Great Panther Mining Limited (GPL)

Great Panther Silver (TSE:GPR) (NYSE MKT:GPL) has secured one year US$10 million in a credit facility from Auramet International, a global precious metals merchant, advisory and financing services provider, with which it has a longstanding relationship.

"Great Panther has a strong balance sheet with no debt and approximately C$35 million of net working capital. The Auramet facility provides the Company with greater financial flexibility and, in particular, more options with regard to the pricing and the timing of the pricing of our concentrate sales," said Great Panther's President and CEO, Robert Archer.

At present, Great Panther has not drawn on the facility, borrowings from which will be charged an interest rate of three month Libor plus 5%.

Great Panther has proven its expertise in taking exploration assets through to production in Mexico; in April the silver producer bolstered the mineral resource estimate at its new San Ignacio satellite mine, which forms part of its Guanajuato Mine Complex. It increased indicated resources by more than 30 percent, and more than doubled inferred resources.

In May, Great Panther, signed a two-year option agreement with Belgium's Nyrstar, the world's largest zinc producer, to acquire the Coricancha mine, in the prolific central Andean region of Peru.

Through the Cangold acquisition, which closed at the end of May, Great Panther has the option to buy more than 6,000 hectares of the advanced stage Guadalupe de los Reyes gold-silver Project in Mexico.

The company posted 57% higher revenues and net income of C$3.6 million in for the first quarter of 2015, compared to a net loss of C$0.6 million in the same period of 2014.