Month: March 2012

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 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, 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.

Grupo Peñoles buscará incrementar su inversión para este año entre 20 y 30%, a fin de continuar con su crecimiento, luego de que en 2011 logró concretar ventas por 7.7 mil millones de dólares.

AuRico Gold Inc. is pleased to report financial results for the fourth quarter and year ended December 31, 2011. All amounts are in U.S. dollars unless otherwise indicated.

Silvermex Resources (TSE:SLX) saw its shares rise more than 16 percent Tuesday after it announced further underground drill results from five holes at its producing La Guitarra property, located in the Temascaltepec Mining District of Mexico.

VANCOUVER – Scorpio Mining Corp. (TSX: SPM) says it booked a net loss of $1 million in the fourth quarter of 2011 with no corresponding loss in share price.