REGIONAL NEWS LATIN AMERICA REGIONAL

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Description: In 2008, Apex Silver Mines expects San Cristobal to produce approximately 16 million ounces of payable silver at an average cash operating cost ranging from approximately negative $3 to $3.50/oz (the lead by-product credit, assuming a lead price of $0.80/lb, results in a negative cash operating cost for silver), 235,000 tons of payable zinc at an average cash operating cost ranging from approximately $0.65 to $0.75/lb, and 80,000 tons of payable lead (the net smelter return value of lead is credited as a by-product to silver production costs).
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