Day: December 22, 2011

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.

Soltoro reports Mexico Silver Resource of 77.4M ounces M&I, 1.18M ounces Inferred

Soltoro Ltd. announced a resource estimate for its El Rayo Silver Project in Jalisco State, Mexico. The 43-101 includes an updated silver estimate for Las Bolas and Highway Zone structures, an initial silver estimate for La Soledad structure and an initial gold estimate for El Rayo Northern Zone.The estimates for all zones use a 20 g/t silver cutoff. Total measured and indicated estimates showed 42.2 million tonnes grading 57.11 g/t for 77.4 million ounces silver. Total inferred estimates showed 580,000 tonnes grading 65.51 g/t for 1.18 million ounces silver.Las Bolas estimate showed 6.1 million tonnes grading 63.44 g/t for 12.4 million ounces silver measured and 29.3 million tonnes grading 49.49 g/t for 46.6 million ounces silver indicated.The Highway Zone estimate showed 2.9 million tonnes grading 57.39 g/t for 5.4 million ounces silver indicated and 210,000 tonnes grading 36.34 g/t for 245,000 ounces silver inferred.La Soledad estimate showed 3.9 million tonnes grading 104.2 g/t for 13 million ounces silver indicated and 370,000 tonnes grading 82.15 g/t for 935,000 ounces silver inferred.The silver estimates used prices of $27 an ounce. No credits were assigned for other metals.

• Fast. PhotoSat solutions are ideal for large, inaccessible, or remote sites. With no permits needed, we can efficiently produce engineering-grade surveys and alteration mineral maps over hundreds or even thousands of square kilometers. No site access is required, and all data processing is completed without involvement from ground crews.
• Global. Satellites are not restricted by borders, permits, or ground logistics. We have completed more than 1,300 projects in over 75 countries, with exacting standards of accuracy and consistency.
• Reliable. Each PhotoSat project is produced from satellite photos, with each photo covering hundreds of square kilometers. As a result, our data sets are consistent, time-stamped and robust, with high data point density.
• Innovative. PhotoSat is a leader in satellite-based surveying technology and alteration mineral mapping. We use proprietary deep learning algorithms in our data processing. Our unique technology produces outstanding results that are trusted by mining companies and engineering consultants around the world.

Layne, A Granite Company, provides sustainable solutions for water resources and mineral exploration. Originally established in 1882, Layne offers a rich history of delivering safe, professional, and reliable water and minerals solutions throughout North and South America. Granite acquired Layne and its subsidiaries in the fall of 2018, to further Granite’s strategy to grow through acquisition and diverse end market expansion.