Month: July 2011

Windstorm Announces VP Exploration

Windstorm Resources Inc. (TSX-V: WSR, FRA: 4WE, WKN: A1H700, “Windstorm” or the “Company”) is pleased to announce the appointment of Mr. Carl Verley, B.Sc., P.Geol. as its Vice President of Exploration.

Goldcorp Revenues Increase 62%

GOLDCORP INC. today reported operating cash flows before working capital changes1 of $717 million for the second quarter of 2011 based on gold production of 597,100 ounces at a total cash cost2 of $185 per ounce. Adjusted net earnings from continuing operations3 in the quarter increased to $420 million, or $0.52 per share, compared to $199 million, or $0.27 per share, in the second quarter of 2010. Reported net earnings from continuing operations were $489 million compared to $524 million in the second quarter of 2010.

Mexico’s Minera Frisco 2Q Net Loss MXN372 Million

MEXICO CITY -(Dow Jones)- Mexican mining company Minera Frisco SAB (MFRISCO.MX) on Wednesday posted a net loss in the second quarter as losses on metals futures pushed up financial costs, offsetting higher sales and operating profit.

Zaruma Resources Announces Completion of Financing

Zaruma Resources Inc.today announced that it has completed the previously announced US$25 million equity financing and US$30 million debt financing. Funds have been released from escrow, Mexican court approved agreements have ended the litigation with various creditors in Mexico, and the necessary filings were made in certain courts and registries in Mexico that will result in the removal of existing liens on the Company’s mining concessions. The Company has issued 488,649,998 common shares and 488,649,998 warrants permitting the holder to acquire the same number of common shares at a price of C$0.10 for a period of two years as part of the equity financing.

Oroco Resource Corp. Announces Closing of Private Placement

Oroco Resource Corp. is pleased to announce that it has closed a non-brokered private placement of 4,250,000 units at a price of $0.28 per unit to raise gross proceeds of $1,190,000. Each unit consists of one common share and one-half of one non-transferable common share purchase warrant. Each whole share purchase warrant is exercisable for a period of fifteen months into one additional common share at a price of $0.42 per share.

US Gold Appoints William Faust Chief Operating Officer

TORONTO, ONTARIO, Jul 27, 2011 (MARKETWIRE via COMTEX) — US GOLD CORPORATION is pleased to announce the appointment of William Faust as Chief Operating Officer, effective August 1, 2011. Mr. Faust will direct US Gold’s mining operations in Mexico and Nevada, including the development, construction and operation of the El Gallo and Gold Bar projects. Mr. Faust has over 30 years of engineering and management experience, particularly in open pit mining in Mexico and the Western United States.

Cerro Resources NL Reports Quarterly Activities and Files Financial Statements for the Period Ending June 30, 2011

LONGUEUIL, QUEBEC–(Marketwire – July 26, 2011) – Cerro Resources NL (ASX:CJO)(TSX VENTURE:CJO) (“Cerro” or “the Company”) is pleased to release a summary of the Company’s quarterly activities. Financial statements and MD&A, for the period ending June 30, 2011, have been filed on www.sedar.com and can be viewed on the Company’s website, www.cerroresources.com.

Oro President Darren Bahrey on Mexico gold assays of 4.07 g/t over 32m

Oro Mining Ltd TSXV:OGR announced results from the Taunus Gold Deposit of its Trinidad Property in Mexico. Highlights include 4.07 g/t gold over 32 metres, 8.07 g/t over 12.7 metres, 3.37 g/t over 25.6 metres, 0.83 g/t over 72.4 metres (including 1.03 g/t over 30.9 metres) and 1.91 g/t over 22.8 metres (including 3.45 g/t over 9.7 metres).

Tara Minerals: Nearly Worthless Stock Being Promoted

Tara Minerals (TARM.OB) is a company worth at most $20M (likely much less), but boasts a market capitalization higher than $100M. How did a company that has only raised $6.7M from the sale of common stock since its inception (see the first line under cash flows from financing activities in the most recent 10-Q) turn that into more than $100M in market capitalization? The company has paid millions of dollars in stock for expenses, most notably “IR services,” in an effort to artificially bolster the stock price.

Aurcana Reports Record 2nd Quarter Silver Production

VANCOUVER, BRITISH COLUMBIA–(Marketwire – July 21, 2011) – Aurcana Corporation (TSX VENTURE:AUN)(OTCQX:AUNFF) (“Aurcana” or the “Company”) is pleased to report record silver production for Q2 of 2011 of 257,508 contained silver ounces. This is a 7% increase over the 240,275 silver ounces produced in Q1 of 2011, and a 41% increase over Q2 of 2010.

Total mill feed of 133,700 tonnes increased 31% compared to 94,201 tonnes for Q2 of 2010. Daily throughput averaged 1,504 tonnes per day for 89 mill days, an increase of 7 operating days over Q2 of 2010.

This is the third consecutive quarter that the mill average daily throughput has exceeded the 1,500 tonnes per day design capacity of the plant, confirming the success of the 2010 expansion.

Of 133,700 mill feed tonnes, 14% (19,196 tonnes) were from NI 43-101 Measured and Indicated Resources and 86% (115,504 tonnes) were from new discoveries or non-compliant resources. La Negra is now applying 43-101 standards in developing new mineralized zones to make more resources compliant. New ore zone development is initially focusing on the Northwest Trend.

La Negra

Tara Gold Provides Update on Registration

On July 18, 2011, the Securities and Exchange Commission (SEC) revoked the registration of Tara Gold’s securities pursuant to Section 12(j) of the Securities Exchange Act of 1934. Contrary to SEC’s statement, the Company does not agree that the revocation is ‘necessary and appropriate in the public interest.’ The Company intends to appeal the decision and seek the reinstatement of the trading of Tara Gold securities.

ECU Silver Mining Obtains Interim Order for Plan of Arrangement

On June 24, 2011, ECU Silver Mining Inc. and Golden Minerals Company announced that they had entered into an agreement to effect a “merger of equals” transaction structured as a plan of arrangement pursuant to the Quebec Business Corporations Act. ECU is pleased to report that the Quebec Superior Court has issued an interim order authorizing ECU to, among other things, call a special meeting of its securityholders to obtain their approval of the Plan of Arrangement.

Excellon Announces Appointments of New CEO & CFO

The Board of Directors of Excellon Resources Inc. is pleased to announce the appointment of a new President and Chief Executive Officer Jeremy Wyeth as well as the appointment of a new Chief Financial Officer Steve Poad.

Cangold Closes First Tranche of Private Placement

CANGOLD LIMITED (TSX-V: CLD, the “Company”) reports that it has closed the first tranche of its non-brokered private placement financing announced on April 26, 2011. On closing, the Company issued 5,192,000 units at $0.50 per unit for gross proceeds of $2,596,000. Each unit comprises one common share and one-half of one non-transferable Series Q share purchase warrant.

Colibri Appoints Dr. Paul Bartos to Board of Directors and Grants Incentive Stock Options

Vancouver, British Columbia – July18, 2011. Colibri Resource Corporation (“Colibri” or the “Company”) (TSX.V-CBI) is pleased to announce the appointment of Dr. Paul J. Bartos as Director. Dr. Bartos is a noted authority on epithermal deposits and currently is the Vice President/ Chief Geologist of Esperanza Resources Corp. where he was instrumental in the discovery of the San Luis bonanza vein deposit. This deposit, which was recently sold to Silver Standard Resources, has proven and probable reserves of 503,313 tonnes averaging 17.95 g/t Au, 446.14 g/t Ag (290,484 ounces gold, 7,219,435 ounces silver). San Luis represents one of the highest grade precious metal deposits found in recent years. Prior to this, Dr. Bartos was with ASARCO Inc., with his most recent position as Latin American Exploration and Business Development Manager. Among other accomplishments, he was responsible for the discovery and development of the San Bartolome silver deposit in Bolivia. This deposit, containing an estimated 107 million ounces of proven and probable silver reserves, is currently in production by Coeur d’Alene Mines Corp., and is now one of the world’s largest pure silver mines.

Guerrero Closes Financing

Guerrero Exploration Inc. announces that it has closed its previously announced financing by issuing 1,560,000 units (“Units”) at $0.20 each.

Coeur Names Mitchell J. Krebs as President and Chief Executive Officer

Coeur d’Alene Mines Corporation announced today that Mitchell J. Krebs has been appointed as President and Chief Executive Officer of the Company. In addition, the Board of Directors also elected Mr. Krebs as a director and Robert E. Mellor as non-executive Chairman of the Board.

Argonaut Gold Announces Q2 Gold Production of 17,453 0unces; El Castillo Production of 35,467 ounces in the first half of 2011

Argonaut Gold Inc. announced today that the Company produced 17,453 ounces of gold during the 2nd quarter ended June 30, 2011, at its 100% owned El Castillo Mine (“El Castillo”), located 100 km north of the city of Durango, Mexico. Gold produced in the first half of 2011 was 35,467 ounces, which is in line with the Company’s guidance of 70-75,000 ounces for full year production.

Corex Announces Non-Brokered Private Placement for up to 3,333,333 Units

Corex Gold Corp. is pleased to announce a non-brokered private placement of up to 3,333,333 units at a price of $0.30 per unit, for aggregate gross proceeds of up to CDN $1,000,000. Each unit will consist of one common share and one half warrant, exercisable by the holder to acquire one additional common share at a price of $0.45 for 12 months from Closing. The warrants are subject to an accelerated expiry which comes into effect once the shares trade above a weighted average price of $0.50 for any twenty consecutive trading-day period, subsequent to four months from Closing. In the event of an accelerated expiry, the expiry date will be the earlier of the regular two year expiry date and 30 days from the date the Company advises the placees of the accelerated expiry. The Private Placement and payment of any finder’s fee are subject to acceptance by the TSX Venture Exchange.

Dia Bras Exploration Appoints Fernando Piccini As CFO

Dia Bras Exploration Inc. announced the appointment of Fernando Piccini as Chief Financial Officer or CFO, effective immediately. Piccini, replaces Chief Financial Officer, Ernesto Duran, who has tendered his resignation to assume a consulting position.

ECU Silver Mining Inc. Announces Closing of Private Placement of Convertible Notes

TORONTO, ONTARIO, Jul 14, 2011 (MARKETWIRE via COMTEX) — ECU Silver Mining Inc. (“ECU”) is pleased to report that it has closed the previously announced issuance of CAD$15 million principal amount, 0.0% senior unsecured convertible notes at par (the “Convertible Notes”) in a private placement (the “Private Placement”) to Golden Minerals Company (“Golden”). The Private Placement was described in the June 24, 2011 joint press release in which ECU and Golden announced the signing of an arrangement agreement pursuant to which the two companies have agreed to merge by way of plan of arrangement under the Quebec Business Corporations Act (the “Arrangement”).

Goldcorp Supports Acquisition of Primero Mining Corp by Northgate Minerals Corporation

VANCOUVER, BRITISH COLUMBIA, July 13, 2011 – GOLDCORP INC. (TSX: G, NYSE: GG) today agreed to support the proposed transaction by which Northgate Minerals Corporation (“Northgate”) (TSX: NGX, NYSE Amex: NXG) will acquire all of the issued and outstanding shares of Primero Mining Corp (“Primero”) (TSX: P). The transaction will be effected through a plan of arrangement under the British Columbia Business Corporations Act.

Bearing Resources Grants Stock Options

VANCOUVER, BRITISH COLUMBIA, Jul 13, 2011 (MARKETWIRE via COMTEX) — Bearing Resources Ltd. (“Bearing” or the “Company”) reports that the Company has granted an aggregate of 2,090,000 incentive stock options (the “Options”) at an exercise price of $0.72 per Option, of which 1,800,000 Options were granted to insiders of the Company. The Options will vest over a two year period from the date of grant. The Options are granted in accordance with the Company’s Incentive Stock Option Plan approved on March 22, 2011. The grant of the Options is subject to the final approval of the TSX Venture Exchange.

Scorpio Mining Maintains Strong Production Levels in Second Quarter 2011

Toronto, July 13, 2011 – Scorpio Mining Corporation (TSX:SPM) (“Scorpio Mining” or the “Corporation”) is pleased to report a second strong production quarter in 2011 (“Q2 2011”), representing significant increases over Q2 2010 and maintaining production levels attained in the first quarter of 2011.

Dia Bras Files Revised Interim Financial Report

MONTREAL, QUEBEC, Jul 12, 2011 (MARKETWIRE via COMTEX) — Dia Bras Exploration Inc. (“Dia Bras” or the “Company”), announces that that it has filed today on SEDAR a revised Interim Financial Report for the three-month period ended March 31, 2011. The revised Interim Financial Report include in Note 23 (d) and (e) the equity reconciliation for March 31, 2010, and December 31, 2010, as required by IFRS 1 First Time Adoption of International Financial Reporting Standards. This revision had no impact of the operating results published by the Company for the three-month period ended March 31, 2011, in the Company’s news release dated June 30, 2011.

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