Month: June 2012

Source Expands Las Minas Land Position to Include On-Strike Continuation of Gold-Silver-Copper Skarn Discovery

Source Exploration Corp. is pleased to announce that its wholly-owned Mexican subsidiary Roca Verde Exploration de Mexico has acquired through staking the San Valentin concession. The concession, which is located approximately 2.0 kilometers south of the Las Minas property, contains 345.18 hectares and hosts a skarn system with high-grade magnetite as well as gold, silver and copper mineralization. Surface exploration shows the gold – silver – copper bearing skarn discovery at Las Minas trends onto the new property.

Almaden Hits 25.00 Meters of 4.22 g/t Gold and 15.41 g/t Silver (4.5 g/t AuEq) On Main Ixtaca Zone

Almaden Minerals Ltd. is pleased to announce further results from the on-going 4 drill exploration program on the Company’s 100% owned Tuligtic project, Mexico with holes TU-12-133, 138, 139, 141 through 144 and 146 through 150. Holes TU-12-138, 143, 144 and 146 were drilled into the Ixtaca North Zone a developing parallel zone to the Main Ixtaca Zone. Results from these holes continue to show that this zone, as presently interpreted, exists over a strike length of nearly 700 meters. Highlights from the current group of assays include the following intercepts (a more complete list of intercepts is shown in the table below):

El Tigre Silver Corp. Announces Closing and Extension of Private Placement

El Tigre Silver Corp. is pleased to announce that it has closed the first tranche of its previously announced non-brokered private placement of 400,000 units of the Company for aggregate gross proceeds of $100,000. Each Unit consists of common share of the Company and one-half of a common share purchase warrant. Each whole Warrant entitles 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 per share.

Mercator Minerals Announces Results of Annual General Meeting

Mercator Minerals Ltd is pleased to announce that all resolutions presented before the Company’s shareholders at the 2012 Annual General & Special Meeting held on June 22, 2012, including board size, board membership, and appointment of auditors were passed by a significant majority of the votes cast, including the long term incentive plan, which was passed by 72.9% of the votes cast. Elected as Directors of the Company were Colin K. Benner, John H. Bowles, Joseph Keane, D. Bruce McLeod, Stephen P. Quin, Robert J. Quinn, Ronald E. Vankoughnett and Daniel Tellechea.

CWRN: “Qin Hai Sails with 43.8k/mt Iron Ore for Bao Steel”

Cotton & Western Mining, Inc. — The Qin Hai Bulk Cargo Vessel sailed out of the Pacific Ocean Port of Ensenada, Baja California, Mexico on June 13, 2012, with a full maximum load 43,829 WMT of Raw Crude Iron Ore sized 1-10mm under contract with Bao Steel. 45,000 WMT remains stockpiled at the port pending dispute resolution with the Mexican Authorities over time lapse in customs. The company began trucking on Oct 24, 2011 through Nov 11, 2011 for a shipping date of Dec 21, 2011; during the month of December, 2011, all iron ore export permits were canceled country wide, and new export regulations became effective overnight. The new iron ore export regulations not only required an iron ore export permit from the Secretary of Economy, but also included a Customs iron ore exporters listing; this entailed a series of Government audits, from the Tax Office, Mining Office, Environmental Agency and from Customs if the company had any prior exports of Iron Ore. Panamerican Minerals Ventures, S.A. de C.V., the Mexico Iron Mining Operator, begin the process of re-qualification to meet the stringent and rigorous new regulations. The Company received the new Secretary of Economy Export Permit in January 2012; however, the audits and other time consuming efforts for Customs listing resulted in the Company becoming one of only a few mining companies authorized to export iron ore from Mexico, on March 6, 2012.

Goldgroup Announces Tunnel Assays Confirming Drill Results at Caballo Blanco

Goldgroup Mining Inc. is pleased to announce final assay results from the completed underground tunnel development at the Company’s 100%-owned Caballo Blanco gold project in Veracruz, Mexico. Both the recently completed main tunnel and crosscut tunnel west of the main tunnel encountered mineralized, massive and brecciated massive silica. Assay results from the channel sampling in the main tunnel returned 24.2 metres of 1.09 g/t gold and the crosscut tunnel returned 19.35 metres of 1.48 g/t gold. The average gold grades of the mineralized zones in the tunnel correspond well with the grades of the drill holes completed in the area surrounding the tunnel, and demonstrates strong gold grade continuity through this section of the Caballo Blanco mineralized zone. These results provide confirmation of a robust resource model, further de-risking the Caballo Blanco project. A sufficient supply of mineralized material has been stockpiled from the underground tunnel development for all anticipated remaining metallurgical test work at Caballo Blanco.

Primero Discovers New High-Grade Vein in West Block

Primero Mining Corp. is pleased to announce the discovery of a new high-grade vein in the West Block which has been named the Alexa vein. The discovery currently comprises five high-grade intercepts that include 16.0 grams per tonne (g/t) of gold (Au) and 508 g/t of silver (Ag) over 2.9 metres, 13.4 g/t of Au and 543 g/t of Ag over 2.9 metres and 7.4 g/t of Au and 188 g/t of Ag over 4.1 metres.

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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