Month: January 2012

Lone Star Gold, Inc. Receives Positive Findings and Extends Commitment to Mexico-Based La Candelaria Gold-Silver Project to Facilitate Next Stage of Exploration

Lone Star Gold, Inc has filed an amendment to its La Candelaria Definitive Agreement in order to extend the Company’s work commitment to the project until March 11, 2012. With the extension in place until March 11, Lone Star will have the opportunity to drill 3-4 deep core holes to add to the Company’s understanding of the Mexico-based project’s mineral potential.

Oremex Gold Obtains Surface Access Rights Agreement for Santa Catarina Gold Project

The Company signed a surface access rights agreement covering 129 hectares with a 30 year duration – The Company is securing drill permits for the commencement of the first phase of drilling at Santa Catarina gold project – A ground geophysical survey is anticipated to commence in Q1, 2012 – Initial drill testing is planned for Q2, 2012

SilverCrest Updates Corporate Resources

SilverCrest Mines Inc. is pleased to provide an updated summary of its corporate mineral resources. The Company now has reported NI 43-101 compliant resources at the Santa Elena Mine, Cruz de Mayo property and La Joya property in Mexico (see table below). The addition of the initial La Joya Inferred Resources of 101.9 million ounces silver equivalent resulted in corporate Inferred Resources increasing by 424% from 24.0 million to 126.0 million silver equivalent ounces. The Company’s combined Probable and Indicated Resources (based on US$18 per ounce silver, US$1000 per ounce gold, and Ag:Au at 55:1) declined by 14.7% from 36.2 million to 30.9 million silver equivalent ounces as a result of production at the Santa Elena Mine in 2010 and 2011.

Excellon provides fourth quarter, year end 2011 production and exploration updates

Excellon Resources Inc. (“Excellon” or “the Company”) is pleased to report fourth quarter and year end production updates for 2011 and that it has exceeded both fourth quarter and annual silver production targets for 2011 by approximately 40% and 4.5% respectively. The Company also reports that at year-end, it held approximately US$22 million in cash.

Copper Creek to Begin Drilling on Santa Lucia Gold-Silver Project

Copper Creek Gold Corp. is pleased to announce that the Company will soon commence a core drilling program on its Santa Lucia gold-silver project located 200 kilometres southeast of Hermosillo in Sonora, Mexico. Copper Creek may earn a 60% interest in Santa Lucia from Kootenay Gold Inc. (KTN-V) by spending $2,000,000.00 in exploration and making modest cash and share payments to Kootenay over a 4 year period. It is anticipated that drilling will begin in the second week of February, 2012.

Bearing Resources Closes $180,000 Private Placement Financing

Bearing Resources Ltd. is pleased to announce the Company has closed the $180,000 private placement announced on December 19, 2011. The non-brokered private placement consisted of 428,572 units. Each Unit is comprised of one common share of the Company and one half of a common share purchase warrant. The Units were offered at a price of $0.42 per Unit. Each whole Warrant will be exercisable for one common share of the Company until January 18, 2013 at an exercise price of $0.60. The securities bear a four month and one day hold period.

US Gold and Minera Andes Shareholders Vote to Approve Business Combination

TORONTO, ONTARIO, Jan 20, 2012 (MARKETWIRE via COMTEX) — US Gold Corporation (“US Gold”) and Minera Andes Inc. (“Minera Andes”) are pleased to announce that at each of their respective meetings on January 19, 2012, shareholders voted in favour of the proposed business combination between US Gold and Minera Andes, pursuant to which US Gold will acquire Minera Andes and be renamed McEwen Mining Inc. (“McEwen Mining”).

Catalyst Copper announces a 71% resource increase for La Verde copper porphyry

Catalyst Copper Corp. today announced an updated Measured plus Indicated Resource of 354.1 million tonnes grading 0.41% Cu; 0.043 g/t Au; 2.3 g/t Ag at its La Verde copper porphyry deposit in Michoacán State, Mexico. This represents a 71% increase in tonnage and 54% in contained copper over the previous resource released in January, 2011 (Table 1)

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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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.