Day: March 1, 2012

New Gold Announces Record Financial Results in 2011 with 212% Increase in Earnings and 23% Increase in Net Cash Generated from Operations

New Gold Inc. (“New Gold”) (tsx and nyse amex:NGD) today announces financial and operational results for the fourth quarter and year ended 2011, with record annual earnings and cash flow. The company, once again, met its production guidance achieving record annual production of 387,155 ounces during 2011 at a total cash cost(1) per ounce sold, net of by-product sales, of $446 per ounce. The combination of increased gold production, well below industry average total cash cost(1) and continued strength in commodity prices led New Gold to the strongest financial performance in the company’s history. When compared to 2010, earnings from mine operations increased by 54% to $315 million, net earnings increased by 212% to $179 million, or $0.42 per share, and net cash generated from operations increased by 23% to $230 million. New Gold is also pleased to reiterate its guidance for 2012 with the targeted start of the New Afton Mine in June set to increase gold production further to 405,000 to 445,000 ounces at a lower annual total cash cost(1) per ounce sold, net of by-product sales, of $410 to $430 per ounce.

Amended: Pacific Cascade Minerals Provides Diamond Drill Program Results From the La Esperanza Prospect on the El Centenario Project

Pacific Cascade Minerals Inc. is pleased to report the first 3 drill holes of the 12 hole Phase 1 drill program on the La Esperanza silver zone, El Centenario Property, Durango, Mexico. The Phase 1 program has tested 625 meters of strike length and the La Esperanza zone remains open to the north, south, and to depth. The 3 drill holes ESP 12-1,2,3 are summarized as to location, azimuth, and dip on the table below.

Silvermex Aims To Deliver Resource And Production Growth In 2012

Silvermex Resources Inc. is focused on delivering growth through expansion of resources and production in 2012. Building on 2011, which was a transitional year for Silvermex, the Company’s efforts will be centered on upgrading and expanding resources to deliver sustainable production from the La Guitarra Mine, as well as delineating future production centers within the Temascaltepec Mining District for near-term production expansion. Over the course of 2011, Silvermex’s focus was on rebuilding, upgrading and redeveloping the La Guitarra Mine. The Company’s primary goal of reaching mill designedproduction capacity and achieving positive cash flow from operations was accomplished ahead of schedule and under budget.

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.