ASX ANNOUNCEMENT AND MEDIA RELEASE

28 August 2013

Alcyone Achieves First Silver Pour in excess of 4,000 ounces After Recommencing Mining Operations

Australian silver production company Alcyone Resources Limited ("Alcyone" or "the Company") is pleased to confirm that it has achieved its first silver pour of 4,000 oz this week after recommencing mining operations at its Texas Silver Mine in Queensland, Australia.
The silver produced will soon be sent to the Perth Mint in Perth, Australia, at which time it will be sold at the current spot price above $27.00 AUS. The Company notes the continued improvement in trading conditions with a silver prices trading at in excess of US$24 per oz and the Australian Dollar less than US$0.90.
The Company expects significant further increases to production levels following scheduled plant upgrades over the coming month.
In addition to the commencement of production, and the first silver pour, the Company is also on track to receive the proceeds from its proposed Silver Purchase Agreement ("SPA") in the current quarter. The SPA will further accelerate the recent production growth for the Company, with significant operational expansion forecast upon drawdown.

Recent trading in Company securities

The Company notes the recent high volume of trading in the Company's securities. The Company has reviewed this trading activity and can confirm that it is not aware of the party/ parties responsible for this trading activity nor is the Company aware of any particular event that would account for these trading volumes.
The Company remains fully committed to delivering shareholder value from its Texas Silver Mine and is focused on ramping up production to name-plate production capacity over the coming weeks. Alcyone will provide further updates to shareholders with respect of its Texas Silver Mining operations and corporate activities in the coming week.

ENDS For further information: For media enquiries: Mr Trevor Harris Mr David Tasker / Mr James Harris Alcyone Resources Professional Public Relations Phone: +61 8 9476 3000 Phone : +61 8 9388 0944


About Alcyone

Alcyone Resources (ASX:AYN) is a pure play low cost silver producer based in south-east Queensland. Alcyone's Texas Silver Project (100% owned) which includes the Twin Hills Mine and Mount Gunyan commenced silver production in July 2011, with targeted annual silver production levels in excess of 1Moz.

Forward-Looking Statement

Certain statements made during or in connection with this communication, including, without limitation, those concerning exploration targets, contain or comprise certain forward-looking statements regarding Alcyone's exploration operations, economic performance and financial condition. Although Alcyone believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. Accordingly, results could differ materially from those set out in the forward-looking statements as a result of, among other factors, changes in economic and market conditions, success of business and operating initiatives, changes in the regulatory environment and other government actions, fluctuations in metals prices and exchange rates and business and operational risk management. Alcyone undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after today's date or to reflect the occurrence of unanticipated events.

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