Month: January 2012

Starcore Closes $2.25 million Financing

Vancouver, B.C. — Further to its press release of January 24, 2012, Starcore International Mines Ltd. (the “Company”) announces that it has closed its non-brokered financing for gross proceeds of $2,252,500. The financing was in the form of 9,010,000 Units at $0.25 per Unit (a “Unit”), each Unit comprised of one common share of the Company (a “Common Share”) and one-half of one transferable share purchase warrant (a “Warrant”). Each whole Warrant entitles the holder to acquire one common share of the Company at a price of $0.35 to January 30, 2014.

Argentum Begins Drilling at Coyote Property

Argentum Silver Corp. reports that it has commenced the first phase of its drilling program at the 1053-hectare Coyote Property, located in the State of Jalisco, Mexico. Argentum has planned a 2000-metre diamond drill program consisting of nineteen holes ranging in depth from 80 to 130 metres. These holes are targeted to test six of the identified mineralized veins from surface. Argentum can extend this drill program to 3000 metres or more without re-mobilizing the drill crew. This decision will be made based on initial results of the drilling.

Source Exploration Corp. Announces Increase in Non Borkered Private Placement to Raise up to $2,990,000

Source Exploration Corp. is pleased to announce that due to strong investor demand for its recently announced non-brokered private placement of up to 10,000,000 units of the Company at a price of $0.26 per Unit, the Company has agreed to increase the size of the Offering to raise up to $2,990,000. The Offering will now include the issuance of an additional 1,500,000 Units, for a total of up to 11,500,000 Units.

AuRico Gold Provides 2012 Operational Guidance

AuRico Gold Inc. (TSX: AUQ) (NYSE: AUQ), (“AuRico” or “AuRico Gold” or the “Company”)provides operating and capital expenditure guidance for 2012. All amounts are in U.S. dollars unless otherwise indicated.

Fortuna Silver mine protester killed

A dispute over a water pipeline in San José del Progreso, a municipality in the Ocotlán district of the southern Mexican state of Oaxaca, turned deadly on Jan. 18 when supporters of Mayor Alberto Mauro Sánchez Muñoz reportedly opened fire on demonstrators. Protesters Bernardo Méndez Vásquez and Abigail Vásquez Sánchez were wounded; Méndez Vásquez died the next day in a hospital in Oaxaca city, the state capital. Both were members of the United Peoples of the Ocotlán Valley Coordinating Committee (COPUVO), which has been engaged in a three-year struggle against the Trinidad silver mine owned by Compañia Minera Cuzcatlan S.A. de C.V., a subsidiary of Vancouver-based Fortuna Silver Mines Inc.

Riverside and Mexigold Commence Drilling at the Pedernal Gold-Silver Project in Durango, Mexico

Riverside Resources Inc. is pleased to report that an initial five hole drill program has commenced at the Pedernal Project in Durango, Mexico. The main focus of the program will be the Tablones Norte Vein, where the recent trenching and soil sampling returned encouraging results (News release January 24, 2012). The program also proposes to test the Milpas Vein structure with at least a single drill hole. Drill holes will vary from 200 to 400 metres in depth with angles of -50 degrees to -60 degrees.

Oretest is a mining exploration drilling contractor based in Mazatlán, Sinaloa, México. The company is managed by Bart Forsyth, with 36 years of extensive drilling experience on most continents with major companies. The company takes great pride in providing high-quality services while making safety a priority. Maintenance, cleanliness, precision and proper drilling habits makes a good safety environment and produces results.

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