GENCO ANNOUNCES THIRD QUARTER RESULTS
November 29, 2005 – Vancouver, B.C., Canada – Wayne Moorhouse, VP of Finance for Genco
Resources Ltd. [TSX Venture Exchange: GGC], is pleased to announce the financial results for the
period ended September 30, 2005. In 2004, Genco changed its fiscal year end from July 31 to
December 31 and as a result for financial reporting purposes the comparative period is the period ended
October 31, 2004.
Gross revenue for the quarter was $1,957,094 compared to $1,258,223 in the comparable quarter in
2004, an increase of 56%. Cost of production for the quarter was $1,240,267 with a resulting gross
profit of $716,827 or 36% of revenue. After deductions for operating expenses and extraordinary items
Genco recorded net income for the quarter of $220,716 compared to a loss of $72,262 for the quarter in
2004.
Gross revenue for the nine month period ended September 30, 2005 was $5,832,304 compared to
$2,991,965 for the nine month period ended October 31, 2004, an increase of 95%. Net income for the
nine month period was $882,464 compared to a loss of $988,552 for the nine month period in 2004.
Genco has improved its working capital position from a deficiency of $1,218,527 as at December 31,
2004 to positive working capital of $1,535,016 as at September 30, 2005, an improvement of
$2,753,543.
Positive earnings in the past nine months have enabled Genco to invest in mine infrastructure, fixed
assets and exploration work at its wholly owned La Guitarra Mine. Total assets on September 30, 2005
were $15,815,037, an increase of $3,271,566 over December 31, 2004 assets of $12,543,471.
Production for the quarter ended September 30, 2005 was 659,705 silver equivalent ounces using a
60.84 to 1.0 silver – gold ratio for equivalency calculations. A total of 33,357 tonnes of ore were
processed on site with average grades of 304 grams per tonne silver and 6.22 grams per tonne gold. The
foregoing geological disclosure has been reviewed and verified by Genco’s President, James
McDonald, P.Geo. (a qualified person for the purpose of National Instrument 43-101, Standards of
Disclosure for Mineral Projects).
See attached balance sheet and income statement for more information. Full financial statements are
available on sedar at sedar.com and on Genco’s website.
For further information: 604-682-2205
E-mail: gencoinfo@telus.net
www.gencoresources.com
Suite 550 – 999 West Hastings Street, Vancouver, B.C., Canada V6C 2W2
Tel: (604) 682-2205 Fax: (604) 682-2235 www.gencoresources.com
GGC (TSX Venture Exchange)
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