Month: March 2012

Mexico: Blood for Silver, Blood for Gold

The ongoing, violent conflict around the Fortuna Silver’s Trinidad/Cuzcatlán Mine in SanJosé del Progreso, Oaxaca, Mexico

“One thing is clear: this was a political hit. Bernardo was murdered because he dared to speak out.” (Dawn Paley)

GoGold Resources Inc. announces proposed acquisition of Absolute Gold Holdings Inc.

HALIFAX, March 30, 2012 /CNW/ – GoGold Resources Inc. (TSXV: GGD) (“GoGold”) is pleased to announce that it has entered into a letter agreement with Absolute Gold Holdings Incorporated (“Absolute”) effective March 30, 2012, relating to a transaction pursuant to which GoGold would acquire all of the issued and outstanding common shares of Absolute in exchange for the issuance of 0.81 of a common share of GoGold by way of a share exchange, merger, amalgamation, arrangement, share purchase or other similar form of transaction (the “Transaction”). Upon completion of the Transaction GoGold will continue to operate under the name “GoGold Resources Inc.” (the “Resulting Issuer”).

Riverside Resources and Partner Sierra Madre Expand Gold Potential in Western Extension at the El Capitan Gold Zone; 2,500m Next Phase Drill Testing Set to Commence

Riverside Resources Inc. and its partner, Sierra Madre Developments are pleased to announce positive assay results including greater than 1 g/t gold in soils from a detailed soil sampling program designed to assess potential western extensions of the El Capitan oxide gold zone at the Penoles Project in Durango, Mexico.

Excellon Reports 2011 Year End Results

Excellon Resources Inc., Mexico’s highest grade silver producer, is pleased to provide this summary of its financial and operating results for 2011. A copy of the Company’s consolidated financial statements for the year ended December 31, 2011, along with Management’s Discussion and Analysis in respect thereof has been filed on SEDAR and is also available on the Company’s website at www.excellonresources.com . All figures unless otherwise noted are in US$.

Goldgroup Announces Financial Results for the Year Ended December 31, 2011

Goldgroup Mining Inc. has filed its audited financial results for the year ended December 31, 2011. The consolidated financial statements along with management’s discussion and analysis are available on SEDAR at www.sedar.com and on the Company’s website at www.goldgroupmining.com. All currency references are in United States dollars, unless otherwise noted.

Elgin Mining Releases Full Year 2011 Financial Results

VANCOUVER, BRITISH COLUMBIA, Mar 29, 2012 (MARKETWIRE via COMTEX) — Elgin Mining Inc. (“Elgin Mining” or the “Company”) reported today the release of its financial results for the year ended December 31, 2011 along with an update on the Company’s project development activities. The Company’s consolidated financial statements for the years ended December 31, 2011 and 2010 and notes thereto, along with its Management’s Discussion and Analysis are available at www.sedar.com and www.elginmining.com . Unless otherwise noted, all financial information is expressed in U.S. dollars.

Baja Mining Announces Further US$ 80 Million Draw of Senior Debt for Boleo

VANCOUVER, BRITISH COLUMBIA, Mar 29, 2012 (MARKETWIRE via COMTEX) — Baja Mining /quotes/zigman/31250 CA:BAJ 0.00% (otcqx:BAJFF) announces that its 70 percent-owned Mexican subsidiary, Minera y Metalurgica del Boleo S.A de C.V (MMB) drew down a further US$ 80 million on March 28, 2012, the fourth draw on the Company’s senior loans to date.

DynaResource Files National Instrument 43-101 Technical Report for San Jose de Gracia

DynaResource, Inc., a Resource Investment and Management Company based in Irving, Texas, with a current focus on the San Jose de Gracia Project in Sinaloa, Mexico, targeting growth in the defining and production of gold and silver resources, is pleased to announce that it has filed with SEDAR a National Instrument 43-101 compliant Technical Report for the San Jose de Gracia Project (the “2012 DynaMexico Luna-CAM SJG Technical Report”, the “Technical Report”), as received from and approved by DynaResource de Mexico, SA de CV., the 100% owner of SJG.

Timmins Gold reports Financial Results for the nine months and year ended December 31, 2011

Vancouver, BC – Timmins Gold Corp. (TSX:TMM, NYSE.A:TGD) is pleased to report its financial results for the nine months and year ended December 31, 2011. All results are presented in United States dollar (“US Dollars” or “USD”) unless otherwise stated. Readers should refer to the 2011 year end management discussion and analysis (MD&A) and audited financial statements for more complete information.*

Goldgroup Announces Tunnel Assays Confirming Drilling Results at Caballo Blanco

Goldgroup Mining Inc. is pleased to announce further assay results from the continuation of underground tunnel development at the Company’s 100%-owned Caballo Blanco gold project in Veracruz, Mexico. Both the main tunnel and a new crosscut tunnel to the west of the main tunnel continue to encounter mineralized, massive and brecciated massive silica. Assay results from the channel sampling in the main tunnel returned 49.40 metres of 1.13 g/t gold and 28.25 metres of 1.26 g/t gold from channel sampling in the crosscut tunnel. The average gold grades of the mineralized zones in the tunnel continue to correspond well with the grades of the drill holes completed in the area surrounding the tunnel. These results provide indirect confirmation for a robust resource model, serving to de-risk the Caballo Blanco project.

Argentum Option Update

Arco Resources Corp. announces that based on the recommendation of the board of directors of Argentum Silver Corp., the optionee of Arco’s Lachiguiri, Silacayoapan and Nino Perdido properties located in Oaxaca, Mexico, Arco filed with the General Direction of Mines in Mexico to reduce the size of the Silacayoapan claim from 20,788 hectares to 3,475 hectares. Further, Arco’s land team determined that it will not renew the claims comprising the Nino Perdido property after discussions regarding Argentum’s decision to drop the claims from the option agreement between Arco and Argentum.

Parlane Closes Private Placement

Vancouver, British Columbia — Further to its press release of February 16, 2012, Parlane Resource Corp. (TSXV:PPP) (“Parlane” or the “Company”) announced today that it has closed its non-brokered private placement with the issuance of 11,000,000 Units (the “Units”) priced at $0.15 per Unit, for gross proceeds of $1,650,000.

AuRico Gold Provides details on its 90%-128% Production Growth Profile at its North

AuRico Gold Inc. (TSX: AUQ.TO – News) (NYSE: AUQ – News), (“AuRico” or “AuRico Gold” or the “Company”) is pleased to provide 2012 quarterly operational guidance as well as three-year operational and capital expenditure guidance for 2012 to 2014. All amounts are in U.S. dollars unless otherwise indicated. The Company will be hosting an Analyst Day webcast on March 28, 2012 beginning at 11:00 a.m. eastern time, following the Company’s Q4 2011 financial results conference call and webcast, to discuss the Company’s operational and exploration programs.

Pan American Silver and Minefinders Announce Final Court Approval of the Plan of Arrangement

Pan American Silver Corp. and Minefinders Corporation Ltd. are pleased to announce that the Ontario Superior Court of Justice has issued a final order approving the previously announced statutory plan of arrangement between Minefinders and Pan American under the Business Corporations Act. Pursuant to the Arrangement, Pan American will acquire all of the issued and outstanding common shares of Minefinders. As previously announced, on March 26, 2012, Minefinders and Pan American both received the required levels of approval of their respective securityholders at their special meetings held in connection with the Arrangement.

Paramount Gold and Silver Announces $18.2 million Private Placement of Common Stock

Paramount Gold and Silver Corp. has entered into definitive agreements with accredited investors to issue shares of its common stock in a private placement transaction. Under the terms of the Transaction, Paramount has agreed to sell an aggregate of 8,917,776 shares of common stock at $2.05 per share, for aggregate proceeds of $18,281,441. The closing of the Transaction is anticipated to occur on or about March 30, 2012, subject to the satisfaction of customary closing conditions.

Golden Tag and Golden Minerals Amend San Diego Joint Venture Terms

GOLDEN, CO, Mar 28, 2012 (Marketwire via COMTEX) –Golden Tag Resources Ltd. (TSX VENTURE: GOG) and Golden Minerals Company (NYSE Amex: AUMN) (TSX: AUM) jointly announce the signing of an amendment to a 2005 Joint Venture Agreement (“JVA”) governing their San Diego silver exploration project. Golden Minerals holds its interest in the JV through ECU Silver, now a wholly owned subsidiary. Under the JVA amendment, Golden Tag has acquired the right to increase its interest in the JV to 60% by solely funding US $3 million of additional exploration expenses within the next 24 months. In order to increase to 60%, Golden Tag must incur and solely fund at least US $1 million of exploration costs in the first 12 month period and at least US $500,000 of costs in each of the final two six month periods. Golden Tag will become the designated operator of the JV for the additional programs and beyond as long as it completes the required funding in a timely manner. Under the 2-year amendment, exploration costs by Golden Tag are optional, except for mandatory costs related to keeping the property in good standing. As part of the JV amendment Golden Tag and ECU Silver have enhanced the mutual piggyback rights contained in the JVA so that each party has the right to require the other to include it in a transaction involving a direct or indirect sale of 100% of the San Diego project if the transaction meets certain minimum requirements and in addition Golden Tag can require that ECU participate in such a sale.

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