Month: January 2012

Northair Outlines 2012 Work Programs for Precious Metal Projects in Mexico

International Northair Mines Ltd. is pleased to announce that its Board of Directors has approved a significant exploration budget for the coming year. Work will focus on the Company’s 100% owned La Cigarra silver project, located in the state of Chihuahua and its 50% owned Sierra Rosario silver/gold project located in the state of Sinaloa, Mexico.

Goldgroup Drilling Continues to Extend the La Paila Zone at Caballo Blanco

Goldgroup Mining Inc. is pleased to announce that additional diamond drill holes at the Company’s 100% wholly owned Caballo Blanco gold project in Veracruz, Mexico have yielded significant gold intercepts. All diamond drill holes are contained in completely oxidized, vuggy and siliceous rock occurring within and peripheral to the La Paila Zone, which lies within the Northern Zone. All 11 drill holes reported below (see Tables 1 and 2 and the drill hole location map) are above the established cut-off grade and are part of the ongoing drilling program intended to increase mineralized resources at Caballo Blanco. Of the 11 drill holes reported below, six of these drill holes further define the La Paila mineral resource, and the remaining five drill holes expanded the southwestern flank of the La Paila Zone. The zone currently remains open to the south and southwest.

Galena Appoints Craig Lindsay as President and CEO

Vancouver, British Columbia, Canada (January 27, 2012) – Galena Capital Corp. (TSX.V: FYI), (“Galena” or the “Company”) is pleased to announce the appointment of Mr. Craig Lindsay as President and Chief Executive Officer.

Lincoln Mining Announces Private Placement of Up to $300,000

Lincoln Mining Corporation announces its plans to conduct a non-brokered private placement of up to 4,000,000 units at a price of $0.075 per unit for total proceeds of up to $300,000. Each Unit will be comprised of one common share of the Company and one half of one non-transferable common share purchase warrant. Each whole purchase warrant will entitle the holder to acquire one additional common share of the Company at a price of $0.10 per share for a period of one year from closing.

Source Exploration Corp. Announces Non Brokered Private Placement of Up to $2,600,000

Source Exploration Corp. (“Source” or the “Company”) (TSX VENTURE:SOP) is pleased to announce that it has arranged a non-brokered private placement (the “Offering”) of up to 10,000,000 units of the Company (the “Units”) at a price of $0.26 per Unit for gross proceeds of up to $2,600,000. Each Unit will consist of one common share of the Company and one half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder to purchase one common share of the Company for a period of twelve months from the closing date of the Offering at a price of $0.60 per common share, provided that the Company will have the right to accelerate the expiry date on notice to the Warrant holders if the closing price of its common shares on a stock exchange in Canada is higher than $0.80 per common share for a period of 20 consecutive trading days after four months from the closing date of the Offering, in which case the Warrants will expire 30 days after the date on which such notice is given.

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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.