Month: October 2011

Arian Silver’s MD&A and Results for the Nine Months Ended 30 September 2011

Arian Silver Corporation (“Arian” or the “Company”) (TSX VENTURE:AGQ)(AIM:AGQ)(PLUS:AGQ)(FRANKFURT:I3A), a silver exploration, development and production company with a focus on projects in the silver belt of Mexico, today announced the release of its Management’s Discussion and Analysis (“MD&A”) and unaudited Financial Statements (“Financials”) for the nine months ended 30 September 2011.

Animas Shareholders Approve Financing

Animas Resources Ltd. (TSX.V:ANI) shareholders have now approved the creation of a new control person by way of a private placement which will raise $3.4 million for Animas to advance the Santa Gertrudis Gold Project in Mexico.

Revolution Forms Technical Advisory Board

Revolution Resources Corp is pleased to announce the following appointments to a new Technical Advisory Board to assist in the strategic planning and exploration programs at the Company’s flagship properties located in the Champion Hills Trend of the Carolina Slate Belt, North Carolina, and the recently optioned Mexican property portfolio from Lake Shore Gold, formerly West Timmins Mining.

Oremex Gold Adds Rosalind Wilson to the Board of Directors

TORONTO, ONTARIO–(Marketwire – Oct. 20, 2011) – Oremex Gold Inc. (“Oremex Gold” or the “Company”) (TSX VENTURE:OAU) is pleased to announce the appointment of Ms. Rosalind Wilson to the Company’s Board of Directors.

Agnico Eagle ups cash component for Grayd offer

Agnico-Eagle Mines Ltd (AEM.TO: Quote) said it will double the cash component in its offer for Grayd Resource Corp (GYD.V: Quote) to C$183 million ($181 million), as the Canadian gold miner moves to expand its footprint in Mexico.

SilverCrest Appoints Manager of Corporate Communication

VANCOUVER, BRITISH COLUMBIA–(Marketwire – Oct. 19, 2011) – SilverCrest Mines Inc. (TSX VENTURE:SVL)(OTCQX:STVZF) (the “Company”) is pleased to announce the appointment of Michael Rapsch as Manager of Corporate communications. Mr. Rapsch will be based out of the Vancouver head office, and will report to J. Scott Drever, President of SilverCrest.

Revolution Increases Private Placement to $4,500,000 and Closes Financing

VANCOUVER, Oct. 19, 2011 /CNW/ – Revolution Resources Corp. TSX:RV (“Revolution” or the “Company”) is pleased to announce it has increased and closed the non-brokered private placement announced October 3rd, 2011. The Company increased the financing from $4 million to $4.5 million, and issued 9 million units at a price of $0.50.

Baja Mining Announces First Draw of US$123.5 Million of Senior Debt for Boleo

Baja Mining Corp. today announced that its 70%-owned Mexican subsidiary, Minera y Metalurgica del Boleo S.A de C.V., drew down the first advance of funds of US$123.5 million under its US$ 759 million senior debt facilities on October 18, 2011. Senior and subordinated debt facilities total US$ 823 million.

Guerrero Issues Options

Guerrero Exploration Inc. announces that it has issued 290,000 options on October 7, 2011 to a consultant at an exercise price of $0.16 per share for a term of 5 years. These options vest immediately. The last closing price on the TSX-V prior to October 7, 2011 was $0.16.

Scorpio Mining Reports Third Quarter Production Results

Toronto, October 18, 2011 – Scorpio Mining Corporation (TSX:SPM) (“Scorpio Mining” or the “Corporation”) reports that production in the third quarter ended September 30, 2011 (“Q3 2011”) from the Nuestra Señora operation totalled 604,975 silver equivalent ounces*, representing a 13% increase over Q3 2010.

Primero Announces Commencement of Advance Tax Ruling Process in Mexico and Provides Update on Tax Strategies; Seeking Taxes Be Based on Realized Revenue

Primero Mining Corp. announced today that it has filed a formal application to the Mexican tax authorities for an advance ruling on the Company’s restructuring plan that, if successful, would result in paying income taxes in Mexico based on realized rather than spot revenue. When completed, the advance tax ruling process will provide certainty and resolution to the Company’s restructuring plan. It will also ensure the Company will avoid tax penalties that could arise should the Mexican tax authorities disagree with the restructuring plan.

Alamos Gold : Announces Appointment of Vice President, Projects

Alamos Gold Inc. is pleased to announce that Mr. Han Ilhan will join the Company as Vice President of Projects effective October 17, 2011. Mr. Ilhan has extensive experience providing engineering and environmental solutions to mining projects worldwide. As Vice President of Projects, Han will be based in Ankara, Turkey and will oversee development of the Company’s Turkish projects, as well as future development projects.

New Gold Agrees to Acquire Silver Quest Resources Ltd. Consolidates Ownership of Blackwater Project in British Columbia

VANNew Gold Inc. and Silver Quest Resources Ltd. today jointly announce a binding letter agreement whereby New Gold will acquire, through a plan of arrangement, all of the outstanding common shares of Silver Quest. Under the terms of the Arrangement, Silver Quest shareholders will receive 0.09 of a New Gold share for each Silver Quest share held and one common share in a new Yukon-focused precious metals exploration company, McIntyre Minerals Inc. for every three Silver Quest shares held. The offer values Silver Quest at $1.32 per share, representing a 52% premium based on the combination of:

Goldgroup closes acquisition of 100% of the Caballo Blanco project

Goldgroup Mining Inc. is pleased to announce that, further to its news release of September 26, 2011, Goldgroup has completed the acquisition of the remaining 30% interest in the Caballo Blanco project held by Almaden Minerals Ltd. Goldgroup now owns 100% of the Caballo Blanco project.

Fresnillo Trims Its Silver Production Outlook

On 12 October, Mexican precious metals miner Fresnillo PLC, the world’s largest primary silver producer, trimmed its full-year guidance for silver production by 3 million to 41 million ounces. The revised outlook followed by a 5.80% fall in its silver production in the third quarter as the company reinforced safety conditions at all of its projects following the death of two contractors in July. The company added that it is expecting to resume with the normal operations at the Fresnillo mine by the end of October. However, the company upped its gold production target to 430,000 ounces for the year 2011, from previously estimated 400,000 ounces.

Agnico-Eagle commences formal take-over bid to acquire Grayd

TORONTO, Oct. 13, 2011 /PRNewswire/ – Agnico-Eagle Mines Limited (“Agnico-Eagle”) (NYSE & TSX: AEM) and Grayd Resource Corporation (“Grayd”) (TSX-V: GYD & OTCQX: GYDRF) jointly announced today that Agnico-Eagle has formally commenced its previously announced take-over bid (the “Offer”) to acquire all of the outstanding common shares of Grayd at a price of $2.80 per share. The Offer represents a premium of 65.7% to the volume weighted average price of Grayd shares on the TSX Venture Exchange for the 20-day period ended September 16, 2011 (the last trading day prior to announcement of Agnico-Eagle’s intention to make the Offer).

Great Panther Silver Reports Third Quarter Production and Appoints New Mine Manager at Guanajuato

GREAT PANTHER SILVER LIMITED (TSX: GPR; NYSE Amex: GPL; the “Company”) reports third quarter (“Q3”) production at its two wholly-owned Mexican silver mining operations, Topia and Guanajuato and appoints Mr. Graham Parsons, MBA, as General Manager of its Guanajuato Operations.

Ore processed in Q3 is up 16% year on year; however, a significant drop in ore grades resulted in metal production being lower by 18%. Metal production, from the two mines, at 484,550 silver equivalent ounces (“Ag eq oz”), included 343,768 ounces silver (Ag oz), 1,494 ounces gold (Au oz), 222 tonnes lead (Pb t), and 294 tonnes zinc (Zn t). At Guanajuato ore grades are expected to improve in the fourth quarter (“Q4”). The deeper extensions of the Cata Alto 1 and 2 zones have been explored and found to be significantly higher grade and production improvements are now anticipated with the addition of high grade ore from the Alto 1, 1a and 2 zones at the 510 metre level.

Year to date, the combined metal production is 1.65 million Ag eq oz, as compared to 1.69 million Ag eq oz, for 2010. The estimated production for the fourth quarter is expected to improve to 550,000 Ag eq oz for a yearend total of approximately 2.2 million Ag eq oz. Production targets for 2012 and beyond are currently under review and management expects to provide further guidance in the fourth quarter.

A new General Manager, Mr. Graham Parsons, MBA, has been appointed for the Guanajuato Operations. Mr. Parsons is fluent in Spanish, having worked in underground operations and open pit projects in Spain, Argentina and Venezuela. He brings a wealth of international mine engineering and operations management experience to Great Panther. Most recently, he held the position of COO for Empire Mining Corporation, a junior exploration and mining company with interests in South-Eastern Europe. Several opportunities exist to improve production output at Guanajuato and Mr. Parsons is expected to add the mining expertise and management skills necessary to achieve the improvements.

The following summarizes the results for the third quarter, 2011:

NWM Mining Corporation Announces US$5,000,000 Revolving Credit Facility

TORONTO, Oct. 12, 2011 /CNW/ – NWM Mining Corporation (the “Company”) (TSX-V: NWM) announces that it has entered into a Revolving Credit Facility for US$5,000,000 (the “Facility”) with Renvest Mercantile Bancorp through its Global Resource Fund (“Global”). Uses of proceeds for the Facility include the funding for working capital and expansion costs for mining of the Lluvia de Oro and Jojoba properties, capital expenditures related to the production of gold, and other mine development costs.

SilverCrest Reports Increased Santa Elena Production in Q3, Silver Production up 43% to 106,636 ounces, Gold Production up 61% to 8,805 ounces

VANCOUVER, BRITISH COLUMBIA, Oct 12, 2011 (MARKETWIRE via COMTEX) — SilverCrest Mines Inc. (the “Company”) (otcqx:STVZF) is pleased to announce continued growth of silver and gold production in the Third Quarter, 2011 from the Santa Elena Mine located in Sonora, Mexico. Silver production was up 43% to 106,636 ounces and gold production was up 61% to 8,805 ounces compared to the Second Quarter, 2011.

Minefinders Announces Third Quarter 2011 Production and Sales Results

Minefinders Corporation Ltd. (“Minefinders” or “the Company”) (TSX: MFL)(NYSE Amex: MFN) is today reporting its production and sales results for the quarter ended September 30, 2011. Full financial and operating results for the quarter will be released after market close on Monday, November 7, 2011.

Fresnillo, Plc – Interim Management Statement and Production Report

Year to date attributable silver production, including the Silverstream, decreased 0.3% and quarterly production decreased 5.8% compared to 3Q10 due to backfilling of long-hole stopes at the Fresnillo mine to reinforce safety conditions. We are expecting to return to normal operations by the end of October.

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