August 20, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Farallon Mining, Ltd. (TSX: FAN) (OTC: FRLIF) said that it has extended its zinc and copper concentrates contracts for 2.5 years with Trafigura Beheer BV Amsterdam, up to December 2014. The company said that more favorable terms have been agreed in both contracts, reflecting the current market situation and adjusted to Farallon's quality.

For zinc, a fixed treatment charge has been negotiated for tonnage shipped between July 1st, 2010 and March 30th, 2011.

From April 1st 2011 to September 30th 2012, a discount over the benchmark treatment charges will be applied to 50% of zinc concentrates production and starting 1st October 2012, a discount over the benchmark treatment charges will apply to 100% of Farallon production of zinc concentrates.

In the case of copper concentrates fixed treatment and refining charges apply; however, from August 2011 benchmark treatment and refining charges will be applied.

For more than two years, since Farallon started production at the G-9 mine, the company's concentrates have been shipped to smelters in Korea, China, Japan and Canada.

Canada-based Farallon operates the G-9 zinc mine on its Campo Morado Property in Guerrero State, Mexico. G-9 is a 1,500 tons per day, underground zinc mine with important by-product credits of copper, gold, and silver.

The company is targeting to produce at an annualized production rate of 120 million pounds of zinc and 15 million pounds of copper per year.

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