Month: August 2012

Goldcorp Appoints New Chief Operating Officer

Goldcorp Inc. today announced that George Burns has been appointed Executive Vice President and Chief Operating Officer, replacing Steve Reid, who has decided to leave the Company to pursue other interests.

San Marco Closes Final Tranche of $420,000 in Private Placement

San Marco Resources Inc. has completed the second and final tranche of its non-brokered private placement of units announced June 20, 2012 by selling 4,200,000 units at $0.10 per unit for gross proceeds of $420,000. The placement was oversubscribed and a total of $720,000 was raised. The proceeds of the placement will be used for continued drill target definition on San Marco’s 100% owned Los Carlos II gold-silver property, drill target identification on its recently acquired Angeles property, and general working capital.

Arian Silver Signs Letter of Intent with 500tpd Mill Operator

Arian Silver Corporation, a silver exploration, development and production company with a focus on projects in the silver belt of Mexico, is pleased to report that the Company has signed a letter of intent, which reflects the Company’s intention to sign a definitive contract for exclusive use of a newly refurbished and soon to be re-commissioned 500 ton per day (“tpd”) toll mill. This mill, which is located on the outskirts of the City of Zacatecas, is currently expected to be operational within ten to twelve weeks.

McEwen Mining Provides Second 2012 Operational and Development Update

McEwen Mining Inc. is pleased to provide a summary of the second quarter, including operational and development updates, for its projects in Argentina, Mexico and Nevada. During the six months ending June 30th, the Company’s attributable production was 47,640 ounces of gold and gold equivalent and remains on schedule to produce a total of 105,000 ounces in 2012. Production was up 9% over the previous quarter and up 17% over second quarter 2011.

Canasil Completes Expenditures for 51% Earn-in of Pan American Silver’s Escobar Claims at Sandra-Escobar Project in Durango State, Mexico

Canasil Resources Inc. announces completion of the $1 million expenditure requirement to earn 51% interest in Pan American Silver’s Escobar claims at the Sandra-Escobar silver-gold project in Durango State, Mexico. As required under the option and joint venture agreement dated March 24, 2009, Canasil has delivered to Pan American a formal notice of earn-in on June 22, 2012, based on expenditures under the agreement of $1,107,008. Data and reports covering the exploration programs up to December 2011 were delivered to Pan American in January 2012, and the final reports and data covering the exploration work from January to June 2012 were delivered on July 20, 2012.

Canasil Completes 2012 Exploration Program and Outlines Seven Silver-Gold Targets at the Sandra-Escobar Project in Durango State, Mexico

Canasil Resources Inc. announces completion of the 2012 exploration program at the Sandra-Escobar silver-gold project in northern Durango State, Mexico, outlining seven significant silver-gold targets over an area of 25 square kilometres. The 2012 program included an ASTER satellite alteration survey, surface mapping and sampling including collection of 370 surface samples, and an 11.8 line-kilometre ground IP geophysical survey, complementing previous mapping and sampling, airborne ZTEM geophysical survey and 1,849 metres of diamond drilling in 11 drill holes completed up to December 2011. These programs have confirmed evidence of a large hydrothermal system centred on an intrusive source and surrounded by mineralized zones observed at surface with veins and outcrops returning high silver, gold, copper, lead and zinc mineralization, with the potential for hosting both high grade vein style and disseminated mineralization. The results are consistent with earlier interpretations based on the project’s geologic setting and similarities with some major silver and gold deposits in northern Durango State such as La Pitarrilla, San Agustin and El Cairo, as outlined prior to these programs in Canasil’s news release dated July 14, 2009.

Corex Completes Non-Brokered Private Placement for $1,078,500

Corex Gold Corp. is pleased to advise it has subject to TSX Venture Exchange approval, completed, a non-brokered private placement for 13,481,250 units at a price of $0.08 per Unit. Each Unit consists of one common share and one share purchase warrant. Each Warrant entitles the holder to subscribe for one common share at a price of $0.15 for a period of twenty four months following the closing of the Financing.

Oro Mining Ltd. : Oro Mining Board Reminds Shareholders of its Recommendation to Reject Wexford’s Opportunistic “Lowball” Offer

Oro Mining Ltd is reminding shareholders of its recommendation to reject the opportunistic “lowball” offer by Wexford Spectrum Trading Limited and Wexford Catalyst Trading Limited, private hedge funds managed and controlled by Wexford Capital LP, to acquire any and all common shares of Oro at a price of $0.11 per common share, which offer is currently set to expire at 5:00 p.m. (Eastern time) on Thursday, August 9, 2012.

Almaden Hits 188.70 Meters 3.3 g/t AuEq (1.32 g/t Au and 97.8 g/t Ag) on Main Ixtaca Zone, Traces Northeast Extension 400 Meters Down Dip

Almaden Minerals Ltd. is pleased to announce further results from the on-going exploration drill program on the Company’s 100% owned Tuligtic project, Mexico with holes TU-12-159, 162, 164, 166 and 168. Holes TU-12-164 and 168 were drilled on section 10+425E into the Main Ixtaca Zone. Holes TU-12-159, 162 and 166 were drilled at 070 degrees on section 50+000N into the Northeast Extension Zone, which trends perpendicular to the Main Ixtaca Zone. The intercepts in holes TU-12-159, 162 and 166, together with previously reported holes on this section show the Northeast Extension to be continuously mineralised over 400 meters downdip. Holes TU-12-164 and 168 on section 10+425E show the presence of variability and high grades in this part of the Main Ixtaca Zone. Highlights from the holes released today include the following intercepts (a more complete list of intercepts is shown in the table below):

Timmins Gold Provides Notice of Q2 2012 Financial Results on August 14, 2012

Timmins Gold Corp. announces that its second quarter financial statements will be released prior to market open on August 14, 2012, followed by a conference call to discuss the results at 11:15 am (EST). Participants may join the call by dialing toll free 1-888-789-9572 (Canada and U.S.) or 1-416-695-7806 (International) with the passcode 5608657. A replay of the call will be available after the call until August 21, 2012, by dialing 1-800-408-3053 (Canada and U.S.) or 1-905-694-9451 (International) with the passcode 4258434. A live and archived audio webcast will also be available at www.timminsgold.com.

Levon Files Updated NI 43-101 Report on SEDAR and Provides Corporate Update

Levon Resources Ltd, is pleased to report that further to the news release of June 19, 2012, it has filed the updated NI 43-101 compliant resource report on Sedar for the Cordero Project in Chihuahua State, Mexico. The resource update was completed by Independent Mining Consultants in collaboration with M3 Engineering and Technology of Tucson, AZ.

Edil de Tetela negará permiso a Minera Frisco

Al comentar que con la posible instalación de la Minera Frisco se presentarían daños importantes e irreversibles a los manantiales de los que dependen los por lo menos 15 mil habitantes de Tetela de Ocampo, quienes basan su economía en el cultivo hidropónicos, el presidente municipal, Marco Antonio Uribe Peña, argumentó que harán todo lo legalmente posible para que no se coloque esta empresa.

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