Month: July 2012

Excellon Executive Chairman says a blockade outside the La Platosa mine has more to do with union issues then a water treatment plant.

Riverside Resources Inc. is pleased to announce that Cliffs Natural Resources Exploration Inc., a wholly-owned subsidiary of Cliffs Natural Resources Inc., has extended the generative phase of the Cliffs-Riverside IOCG Exploration Alliance for an additional year, with a further funding commitment of $750,000. Cliffs has also agreed to fund an additional $330,000 (approximate) for drilling the previously acquired Huerta target in Jalisco, Mexico.

Endeavour Silver Corp. announces that it has entered into two separate option and joint venture agreements to earn up to a 70% interest in the Panuco silver-gold exploration property from a private company, Arcelia Gold Corp., and a 75% interest in the Laberinto silver-gold exploration property from an NYSE-MKT-listed company, Avino Silver and Gold Mines Ltd. Both properties are located about 60 kilometers (km) north-northeast of Durango City in Durango, Mexico.

Avino Silver & Gold Mines Ltd. is pleased to announce that it has entered into an option and joint venture agreement with Endeavour Silver Corp., whereby Endeavour was granted the option to acquire up to a 75% interest in the Laberinto Property, Durango State, Mexico, consisting of approximately 91.7 hectares. In order to exercise the option, Endeavour must pay up to US $200,000 in annual installments over 4 years to Avino in option payments, and incur up to US$3 million in exploration work on the Property over the next 4 years.

Avino Silver & Gold Mines Ltd. is pleased to provide the following update of activities at its mine operation located near Durango, Mexico.

Cream Minerals Ltd. announces the completion of the updated mineral resource estimate at the Company’s 100% owned Nuevo Milenio Silver-Gold Project in Nayarit State, Mexico. The Company also announces that the Board of Directors has initiated a review of Cream’s strategic alternatives intended to maximize shareholder value. A Special Committee of independent directors (“the Special Committee”) has been appointed.

Cayden Resources, a junior mining firm, has reported that the high-grade values of gold have been sampled in a fresh trench from the company’s La Magnetita target located in the Morelos Sur gold project in Mexico.

Sources say issues surrounding a land use contract signed in April 2008 have led to a blockade at the La Platosa mine.

Riverside Resources Inc. announces that it has received notice from Guerrero Exploration Inc. of its termination of the reorganization agreement between Riverside and Guerrero announced June 19, 2012. At the time the Reorganization Agreement was entered into, Guerrero was in default with respect to its option to acquire up to a 70% interest in the Chapalota property, Mexico, from the Company pursuant to an option agreement between the parties announced June 30, 2011. One of the purposes of the Reorganization Agreement was to set forth new terms upon which Guerrero could earn a 100% interest in the Chapalota property. With the termination of the Reorganization Agreement, Guerrero’s option to acquire an interest in the Chapalota property has now terminated.

Southridge Enterprises Inc. is pleased to announce the initial assay results from Trench #15 at Los Compadres. The Company has been actively conducting a trenching and sampling program at their Los Compadres property at Santa Maria del Oro, in Nayarit, Mexico.

Revolution Resources Corp. is pleased to announce that the Company has amended the terms of its option agreement to acquire up to 100% of the Universo and Montana de Oro properties in Mexico from Lake Shore Gold Corp.

Cayden Resources Inc. is pleased to announce that it has sampled high grade gold values in a new trench from its La Magnetita target in the 100% owned Morelos Sur Gold project located in central Guerrero State, Mexico. Highlights include 20 meters of 6.39 g/t Au including 6 meters of 14.4 g/t Au. Also, further along the trench, Cayden intercepted 27 meters of 0.48 g/t Au, and 17 meters of 0.62 g/t Au (please see www.caydenresources.com for a location map and previous news releases for locations of other trenches from the current program). These intercepts are located in the western portion of the 7.3 square kilometer gold in soil anomaly outlined earlier this year (see NR dated July 4, 2012). Cayden has begun drilling one of the western anomaly targets (seen NR dated June 6th) and is currently awaiting results. Extensive, additional trench samples from both the eastern and western anomaly targets have been completed and are pending assay.

Siete mineros murieron ayer a consecuencia de una explosión de gas metano en un pozo carbonero del municipio de Múzquiz. Coahuila. Aunque no se han determinado aún las causas del estallido, no parece descabellado atribuirlo a la negligencia de los propietarios del socavón y a la ausencia de condiciones mínimas de seguridad en el mismo. Significativamente, la Secretaría del Trabajo y Previsión Social (STPS) informó ayer, en un comunicado, que ese yacimiento había sido inspeccionado en 16 ocasiones, que se había ordenado la restricción del acceso a uno de los pozos por no tener salida de emergencia y que la empresa El Progreso, propietaria del pozo siniestrado, enfrenta actualmente dos procedimientos de sanción.