Month: December 2011

El Tigre Silver Corp. Announces First Closing of Financing

El Tigre Silver Corp. is pleased to announce that it has closed the first tranche of its previously announced non-brokered private placement of 2,936,000 units of the Company for aggregate gross proceeds of $734,000. Each Unit consists of common share of the Company and one-half of a common share purchase warrant. Each whole Warrant entitles the holder to acquire an additional common share of the Company for a period of 2 years from the date of issue at a price of $0.40 per share.

Letter Agreement Accord for 14,000 has. in Baja California Sur, Mexico

Silver Scott Mines, Inc. (OTC: SILS.pk) is pleased to announce the execution of a stock based 4 year earn in agreement for exploration covering more than 14,000 hectares in Baja California Sur. These two main concessions are located near the recently discovered gold deposit, Los Planes, by Pediment Gold Corp. in 2007 containing 1.66 million ounces of gold and the Concordia gold deposit with 2.28 million ounces of gold. Agreement allows the company to investigate high potential targets within these two mineralization trends, one of known gold deposits and the second trend having silver-gold deposits.

GoGold Announces the Closing of Private Placement for $4.5 million and Recaps a Great First Year of Growth and Achievement

HALIFAX, Dec. 23, 2011 /CNW/ – (CNW – December 23, 2011) – Terry Coughlan, President and CEO of GoGold Resources Inc. (“GoGold”), is pleased to announce that GoGold has closed its previously announced non-brokered private placement financing of $4,500,000. The private placement comprised the sale of 3,600,000 common shares at a price of $1.25 per share (the “Private Placement”) The common shares issued in this Private Placement are subject to a 4 month hold period which ends on April 24, 2012.

Citation Enters Into Option Agreement to Acquire 100% of Biricu Prospect, Mexico from Esperanza Resources

Citation Resources Inc. is pleased to announce that it has today entered into an option agreement with Esperanza Resources Corp. to acquire 100% of Esperanza’s Biricu Prospect mineral exploration concession located in Guerrero State, Mexico. The Biricu concessions comprise more than 41,000 hectares of highly prospectable ground and are the direct on-strike extension of five skarn deposits in the Guerrero Gold Belt (El Limon-Los Guajes – Torex Gold Resources Inc.; Bermejal, Los Filos, and Nukay – Goldcorp Inc.; Ana Paula – Newstrike Capital Inc.). To date, very limited exploration activity has been conducted on the concessions.

Yale Summarizes Difficult 2011 and Looks Forward to 2012

In calendar year 2011 Yale generated modest revenue of approximately $193,000 as a result of cash payments and management fees from optionees, sale of shares in optionees, oil and gas revenue, and consulting for third party companies. In addition, current free trading, saleable, shares amount to approximately $227,000 as of Dec. 22.

Fortunate Sun Mining Company Ltd. Announces Closing of Initial Public Offering

The Board of Directors of Fortunate Sun Mining Company Ltd. are pleased to announce that it has successfully completed its Initial Public Offering for gross proceeds of $1,500,000 under a prospectus dated October 18, 2011. Fortunate Sun issued 7.5 million units at a price of $0.20 per unit, with each unit comprised of one common share and one-half of a warrant, with each whole warrant exercisable into a common share for 18 months at $0.30 per common share. Haywood Securities Inc. (“Haywood”) acted as agent for the offering. Haywood received a cash commission of 10% of the gross proceeds of the offering, a corporate finance fee of $20,000 and Fortunate Sun granted agent’s options to Haywood and sub-agents to purchase up to an aggregate of 750,000 agent’s units at a price of $0.20 per agent’s unit exercisable for a period of 24 months.

Mammoth Capital Announces Completion of Qualifying Transaction, Concurrent Private Placement and Initiation of Exploration Activities

Mammoth Capital Corp.is pleased to announce that, further to its announcement on September 14, 2011, it has completed the acquisition of the option from Yale Resources Ltd. pursuant to which the Company can acquire up to an undivided 100% interest in and to the Urique Project. The Urique Project currently consists of 11 mining concessions owned by Yale and its Mexican subsidiary Minera AV, including the San Pedro concession title which was formally released to Yale on December 19, 2011. The Urique Project covers approximately 289 square kilometres located within the southern Sierra Madre mineralized belt in southwestern Chihuahua State, Mexico and is prospective for gold and silver.

Maza Drilling is a Mexican company established in 2007 in Mazatlán, Sinaloa. Our Canadian founder, Mr. Guy de Launiere, has over 20 years of international experience managing diverse drilling operations. Maza Drilling strives to compete at the highest levels in terms of recovery, effectiveness, efficiency, and affordability at every project while keeping at the forefront of technology to meet our customer’s needs in this demanding market.

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