Month: July 2012

Riverside Resources to Receive Additional Funding to Extend Strategic Alliance and Drill IOCG Targets in Jalisco, Mexico

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.

Kimber Appoints New VP, Exploration and VP, Project Development

Kimber Resources Inc. today announced two new appointments to its management team: David (Dave) Hembree as Vice President, Exploration and James (Jim) McKay as Vice President, Project Development for the Monterde Project, as well as the resignation of Mr. Currie as COO.

Fresnillo CEO Eyes Mining Cost Inflation of 7%-8% In 2012

Mexican precious metals producer Fresnillo PLC (FRES.LN) expects mining cost inflation at 7%-8% this year due to higher costs for imported goods such as explosives and higher local costs such as labor and diesel, the company’s chief executive said Tuesday.

Endeavour Silver Options the Panuco and Laberinto Silver-Gold Exploration Properties in Durango State, 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. Enters Into Option Agreement with Endeavour Silver Corp.

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.

Riverside Announces the Acquisition of Sierra Madre Shares

Riverside Resources Inc. announces that it has acquired ownership of and control over 1,550,388 common shares of Sierra Madre Developments Inc. representing approximately 2.18% of the issued and outstanding common shares of Sierra Madre. As a result, Riverside now has ownership and control over 8,409,656 common shares of Sierra Madre, representing approximately 11.8% of Sierra Madre’s issued and outstanding shares.

Cream Minerals Announces updated Mineral Resource Estimate for the Nuevo Milenio Silver-Gold Property and a Review of Strategic Alternatives to Maximize Shareholder Value

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.

Oretest is a mining exploration drilling contractor based in Mazatlán, Sinaloa, México. The company is managed by Bart Forsyth, with 36 years of extensive drilling experience on most continents with major companies. The company takes great pride in providing high-quality services while making safety a priority. Maintenance, cleanliness, precision and proper drilling habits makes a good safety environment and produces results.

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