Month: June 2012

Skeena Arranges Loan for Tropico Project Cu-PGM Metallurgical Investigation

Skeena Resources Limited has arranged a one-year, non-interest bearing loan of $200,000 from a director of the Company. The funds will be used for completion of a bench-scale metallurgical investigation of its Tropico copper-platinum-palladium-gold Project in Sinaloa State, Mexico, and for general corporate purposes. Subject to Exchange approval, the director will be issued a total of 500,000 shares (with a hold period of 4 months) as a bonus for making the loan.

Southridge Minerals Secures $3,500,000 Financing to Fund the El Horconcito Gold Property in Durango, Mexico

Southridge Enterprises Inc. is pleased to announce that Southridge Minerals, Inc., its wholly owned subsidiary, today has executed an agreement with Duvernoi Capital Investments Inc. providing for a $3,500,000 financing. This financing is in the form of a convertible debenture with terms stipulating an interest rate of 8.8% and a loan repayment term of 32 months from the date of execution of the agreement, by way of cash or through the conversion of shares of Southridge stock. The repayment terms of the financing are amenable to the Company’s property development schedule and to future financings plans to retire the debt.

Golden Goliath Resources Ltd.: Agnico-Eagle Starts Drilling at Las Bolas/Los Hilos

Golden Goliath Resources is pleased to provide an update of developments on their extensive exploration portfolio in the Uruachic Mining District in the Sierra Madre Gold-Silver Belt of northwest Mexico. The Uruachic Mining District hosts the recently discovered Orisyvo deposit, a 9.6 million ounce gold deposit currently being explored and developed by Fresnillo PLC, one of the world’s largest mining companies.

Victory Resources Corp Announces $5 Million Financing Commitment

Victory Resources Corp. is pleased to announce that it has entered into an agreement with GEM Global Yield Fund Limited for a $5.0 million CDN financing commitment. Funds raised through this facility will be used for the ongoing drill program and the subsequent engineering work to bring the Reforma mine to feasibility. Funds will also be used for the development of the Company’s recently optioned Boleo property in Mexico, the Toni property located near Merritt, B.C., as well as general working capital.

Prospero Shareholders Approve AGM Resolutions

Prospero Silver Corp. is pleased to announce that shareholders of the Company approved all resolutions brought before them at the Company’s Annual General Meeting held in Richmond, British Columbia on June 27, 2012.

Animas Resources Regains Full Access to Santa Gertrudis

Animas Resources Ltd. is pleased to announce that Sonora State (Mexico) governmental authorities have granted the Company Provisional Restitution of the disputed lands within the Santa Gertrudis mining district. This action in effect gives the Company complete physical control of and access to the disputed properties, and it is considered to be a major advancement towards a favorable, final resolution of the surface land tenure issues in the area.

Seafield Resources Reports Appointment of Vice President, Exploration

Seafield Resources Ltd. is pleased to announce that Giovanny Ortiz has been appointed Vice President, Exploration for the Company, effective immediately. As Seafield’s VP, Exploration, Mr. Ortiz will lead the Company’s continued efforts to develop its Quinchia Gold project in Colombia, with a focus on moving the Miraflores Deposit toward feasibility level. He will also spearhead the regional exploration program within the Company’s 100%-owned, 6,757 hectare land package. Seafield’s previous Vice President, Exploration, Tom Henricksen, will remain as the Company’s Consulting Geologist.

Soltoro Trenching Expands Silver Gold Potential at El Rayo Project in Jalisco, Mexico

Soltoro Ltd. recently concluded a ground geophysical survey over the entire El Rayo Project which served to identify a possible structural extension to the gold resource area. To date Soltoro has defined Indicated Mineral Resources of approximately 22,600 ounces of gold and Inferred Mineral Resources containing approximately 18,900 ounces of gold on the northwest end of the El Rayo structure. The most promising area sampled to date is the La Ocotera zone, which is located to the northwest of the El Rayo gold resource and would add approximately 750 metres of prospective structure to be explored. Results of trenching completed to date include intercepts of 4.8 metres of 1.01 g/t gold and 6.5 metres of 0.91 g/t gold in the La Ocotera area. Selected results from trenching and rock sampling were returned as follows:

Major Drilling Group International Inc. is one of the world’s largest drilling services companies primarily serving the mining industry. Established in 1980, Major Drilling has over 1,000 years of combined experience and expertise within its management team alone.

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