Month: September 2012

Mercator Minerals Arranging to Replace El Pilar Pre-Construction Credit Facility

Mercator Minerals Ltd. is pleased to announce that it has entered into a mandate with RMB Resources Inc (“RMB”), the resource financing division of the FirstRand Group of South Africa, to arrange up to $30 million in a corporate debt facility to repay the Company’s C$25.0 million pre-construction credit facility due January 2013.

Alamos Gold Declares Semi-Annual Dividend

Alamos Gold Inc. is pleased to announce that as part of the Company’s long-term strategy to maximize shareholder value, the Company’s Board of Directors has declared a semi-annual dividend of $0.10 per common share. The dividend is payable on October 31, 2012 to shareholders of record as of the close of business on October 15, 2012. This dividend qualifies as an “eligible dividend” for Canadian income tax purposes.

Kimber Initiates Underground Sampling at its Monterde Gold-Silver Project, Mexico

Kimber Resources Inc. today provided an update on work currently underway on the Carmen gold-silver deposit at its Monterde Project, Mexico. Kimber Resources has commenced detailed mapping and sampling of the rehabilitated underground workings that cut through the Carmen deposit. This is the first time these underground workings have been subject to systematic channel sampling.

QRS Capital Corp. Announces Non-Brokered Private Placement to Raise Up to $500,000

QRS Capital Corp. is pleased to announce that it intends to complete a non-brokered private placement of up to 2,500,000 units at a price of $0.20 per Unit for gross proceeds of up to $500,000. Each Unit will consist of one common share and one half of one common share purchase warrant. Each such Warrant will entitle the holder to purchase one common share of the Company at a price of $0.40 per common share for a period of 24 months from the closing date of the Private Placement.

Southridge Adds Mexican Industry Professionals to Board

Southridge Minerals, Inc. is pleased to announce it has added the expertise of Mexican industry professionals Mr. Alejandro De Leon Garcia, Mr. Alfonso Sanchez Navarro and Mr. Salvador Martinez Moreno to its board of Directors.

SilverCrest Reports High Grade Surface Sampling and Additional Drill Results-157m @ 94.1 gpt Ag Eq(i) at La Joya

SilverCrest Mines Inc. is pleased to announce the results of an additional 15 holes of the Phase II drill program and additional surface sampling currently underway at its La Joya Property in Durango, Mexico. The Phase II drill program has been expanded by 10 holes to 90 holes totaling 20,000 metres. Phase II drilling reported to date has extended the Main Mineralized Trend (“Trend”) beyond the area containing the current Inferred Resource of 101.9 million ounces Ag Eq.(i) (see News releases dated March 20 and May 7, 2012 and attached figure). Newly constructed drill roads have exposed high grade surface mineralization with Ag Eq values ranging from 72.6 grams to 187.6 grams over sample intervals ranging from 39.7 metres to 99 metres. Drilling and surface sampling has now extended the Trend to approximately 2.5 kilometres with an average width of approximately 700 metres. Please reference our revised website at www.silvercrestmines.com for more information, photos and figures on La Joya.

MacMillan La Raizura Drilling Reports Grades Of Up To 4.138 g/t Gold And 159.0 g/t Silver Over A 3.15 Metre Intercept

Mr. George A. Brown, President of MacMillan Minerals Inc., is very pleased to announce the positive results of the three hole diamond drill program at the La Raizura Target at the Las Cucharas Gold and Silver Project in Mexico. Mr. William Hamilton, P. Geo., Manager of Exploration, is a Qualified Person under the meaning of National Instrument 43-101 and is responsible for all technical information contained in this news release.

NWM Drills 1.03 g/t Au over 23.0 Meters from surface at Gold Ridge

NWM Mining Corporation is pleased to report on the progress of the air-track drilling program conducted on the Gold Ridge target at Lluvia de Oro. Located approximately 500 meters west of the Lluvia de Oro / Creston pit, Gold Ridge consists of a quartz porphyry / felsic volcanic unit with an exposed strike length of 1.4 kilometers and an approximate thickness of 200 meters. Initially defined by highly anomalous gold in soil geochemistry, wide spaced percussion drilling in 2011 and diamond core holes L11-066 and L11-067 confirmed the presence of gold near surface and at depth. In 2012, 20 percussion holes intersected gold mineralization along the east flank of Gold Ridge, expanding the lateral distribution of the gold mineralization while also identifying 3 target areas, the North, Central and South Zones for follow up drilling.

Production Commences at Catanava

Excalibur Resources Ltd. is pleased to announce that the explosives have been delivered to the site and startup production has commenced at surface on the Camino vein at its 49% owned subsidiary Minera Catanava S.A. de C.V. According to our JV partner, Don McLeroy, President of Minera Apolo, S.A. de C.V., “On the basis of two blasts and one shift per day, initial production is estimated at 40-60 tons per day. An adit on the Camino Vein has been started in the arroyo east of the plant. Once we are in the adit about 20 or 30 meters, we can put in a couple of raises and start shrinkage stoping, which will furnish enough ore for 3 shifts per day and then we will ramp up production from there.”

Arian Silver Enters SEDA Agreement

London, England, 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 it entered into a Standby Equity Distribution Agreement pursuant to which YA Global Master SPV Ltd, an investment fund managed by Yorkville Advisors Global LP, has agreed to subscribe in tranches on an indemnified basis, when requested by the Company over the next three years, for up to £5 million of the Company’s Common shares.

Ternium Investing $4.2B In Mexico Steel Plant

Latin American steel company Ternium SA said Monday it will invest $4.2 billion over the next five years to build a flat steel plant in Mexico to bolster production capacity.

This Miner May Be Primed For Takeover

One gold and silver miner that we believe is a near-term takeout target — possibly before the end of 2013 — is Paramount Gold and Silver (PZG). We highlighted this company a few weeks ago and already it has made a powerful move. The primary reasons we believe the majors are looking at Paramount is that they have known advanced NI 43-101 resources of over 100 million ounces of silver and 4 million ounces of gold at their two properties in mining friendly Nevada and the historic Sierra Madre Trend Mexico.

Lawyers Get $35,000 an Hour — and Shareholders Foot the Bill

Robert Shapiro, litigation partner and head of the White Collar Criminal Defense Group in the firm Glaser Weil Fink Jacobs, Avchen & Shapiro, was named one of the nation’s most prominent attorneys by the NY Times. His list of high profile cases includes the defense of O.J. Simpson.

Excellon Provides Update on Demonstration at La Platosa

Excellon Resources Inc. today reported that an illegal demonstration was held at the Company’s La Platosa Mine in the state of Durango, Mexico by members of the Sindicato Nacional de Trabajadores Mineros Metalúrgicos, Siderúrgicos y Similares de la República Mexicana, affiliated with the United Steelworkers Union, along with members of the Ejido La Sierrita, both of which are advised by the non-governmental organization ProDESC.

Starcore Appoints New Director

Starcore International Mines Ltd. is pleased to announce that Dr. Michael Gunning has been appointed a director of the Company. Already serving as a member of Starcore’s Technical Advisory Board since April, 2012 (see press release of April 18, 2012), Dr. Gunning has been working with the Company and the other members of the technical team in reviewing and evaluating the exploration and development work at Starcore’s San Martin gold mine in Queretaro, Mexico.

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