Month: May 2012

El Tigre Silver Corp. is pleased to announce a non-brokered private placement for up to 12,000,000 units of the Company at a price of $0.25 per Unit for aggregate cash proceeds of $3,000,000. Each Unit will be comprised of one common share and one-half of a common share purchase warrant. Each whole Warrant will entitle the holder to acquire an additional common share of the Company for a period of 18 months from the date of issue at a price of $0.40. An 8% cash finders’ fee and warrants equal to 8% of the Units issued may be payable on all or a portion of the offering.

Dia Bras Exploration Inc. is pleased to announce its production results for the first quarter of 2012.

Elgin Mining Inc. and Gold-Ore Resources Ltd. jointly announced completion of the business combination which took effect May 1, 2012, whereby Elgin Mining acquired all of the issued and outstanding common shares of Gold-Ore by way of plan of arrangement. The Arrangement has resulted in a well-funded, growth-oriented gold producer which owns the producing Bjorkdal gold mine in Sweden and the Lupin and Ulu gold development projects in Nunavut, Canada. Patrick Downey will continue in his role as President and Chief Executive Officer of Elgin Mining. Gold-Ore directors, David Mullen, Ronald Ewing, Glen Dickson and Robert Wasylyshyn will join the expanded board of directors of Elgin Mining with immediate effect.

Goldgroup Mining Inc. is pleased to announce the appointment of Mr. Chester F. Millar to the Board of Directors. Mr. Millar is considered a pioneer of heap leach gold production and large-scale bulk mining methods and techniques used for mining low-grade gold deposits worldwide. Considered one of the mining industry’s most successful company builders, Mr. Millar was inducted to the Canadian Mining Hall of Fame in 2008, with a career that includes being a founder and former Chairman of such notable large and successful gold companies as Glamis Gold Ltd., Eldorado Gold Corporation and Alamos Gold Inc. Under his strategic direction, these companies were able to grow from junior exploration and early production companies to world class gold producers.

Soltoro Ltd. has received an option payment from Argentum Silver Corp. whereby an additional 3,500,000 common shares and a payment of CDN $120,000 were made to Soltoro towards the acquisition of Soltoro’s Victoria and Coyote silver gold properties in Jalisco State, Mexico. Soltoro now holds a total of 6,300,000 shares of Argentum Silver (14% of the outstanding shares of Argentum Silver). Under the terms of the option agreement signed on April 25, 2011, Argentum Silver must evidence certain exploration expenditures in order to complete a 100% transfer of title interest of the Victoria and Coyote properties to Argentum Silver. On transfer of the properties, Soltoro will retain a 3% Net Smelter Return interest in each project whereby 1% can be purchased by Argentum Silver for US$1.5 million to a maximum of 2% for each project. Soltoro also retains the right to participate in additional Argentum Silver financings to maintain its percentage equity interest.

Lone Star Gold, Inc. is pleased to announce that on April 30, 2012, the Company signed an Investment Agreement with Fairhills Capital Offshore LTD outlining the terms and conditions under which the Investor has agreed to provide the aggregate amount of up to $24 million to the Company in exchange for the purchase of Lone Star’s Common Stock.

International Millennium Mining Corp. reports its financial statements and MD&A (the “Quarter and Annual Report”) for the 4th Quarter and Year Ended December 31, 2011 (BC Form 51-102F1). Pursuant to the requirements of National Instrument 54-102, this news release provides a summary of the information contained in the 2011 Audited Consolidated Financial Statements for the year ended December 31, 2011.