Day: July 27, 2011

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 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 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. 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.

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.