Month: December 2012

Southridge Issues Clarification of Kinross Agreements

Southridge Enterprises Inc. is would like to clarify that the Company does have signed agreements with KGEM (Kinross Gold Exploration Mexico) regarding Cinco Minas & Gran Cabrera, and that any and all quotes attributed in our December 26, 2012, news release to Mr. Martin Moscosa, Exploration Manager for Kinross Gold, are indeed accurate and documented.

Santacruz Silver Announces Filing of Technical Reports

Santacruz Silver Mining Ltd. announces that it has filed on SEDAR an updated technical report in respect of its San Felipe Project, titled “Update of NI 43-101 Technical Report on Resources, San Felipe Project, Sonora, Mexico”. The updated report provides additional information on data verification and sampling. It is updated as of December 19, 2012, and has an effective date of April 5, 2012. The resources remain unchanged from the original report which was announced on July 16, 2012.

Quaterra Closes Non Brokered Private Placement

Quaterra Resources Inc. today announced that its previously announced private placement was increased and has closed with the issuance of 6,541,571 units for gross proceeds of US$2,289,550.

Gold Resource Corporation Declares December Monthly Dividend

Gold Resource Corporation declares its instituted monthly dividend of $0.06 per common share for December 2012 payable on January 23, 2013 to shareholders of record as of January 11, 2013. Gold Resource Corporation is a low-cost gold producer with operations in southern Mexico.

BOWMORE Closes $425,000 Non-Brokered Flow-Through Private Placement

Bowmore Exploration Ltd. has closed a 425,000 non-brokered flow-through private placement with Canadian investors consisting of 1,416,666 units at a price of 0.30 per Unit. Each Unitis comprised of one flow-through common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder thereof to purchase one non-flow-through common share of Bowmore at aprice of 0.40 each until June 28, 2014.

South American Silver Acquires Interest in High Desert Gold Corporation

South American Silver Corp. is pleased to announce that today it acquired ownership of 15,580,000 common shares of the High Desert Gold Corporation, a company listed on the TSX Venture Exchange. As a result of the purchase, South American Silver Corp. now owns 15,580,000 Common Shares of the Issuer representing approximately 19.9% of the total issued and outstanding Common Shares of the Issuer, based on there being 78,285,233 Common Shares of the Issuer outstanding as of December 28, 2012. Information regarding current issued and outstanding Common Shares of the Issuer is based on information in the Issuer’s news release of December 28, 2012.

SEC Suspends Southridge Trading After Kinross Statement

Trading in Southridge Enterprises Inc. (SRGE) was halted by the U.S. Securities Exchange Commission two days after the mining company said it was forming a partnership with Canada’s Kinross Gold Corp. (K) in Mexico.

Starcore to Step Up Exploration Drilling

Starcore International Mines Ltd. announces that in 2013 it will focus on increasing shareholder value through exploration and development at its wholly-owned San Martin gold and silver mine in Queretaro, Mexico. In order to achieve this goal, Starcore has scheduled an enhanced exploration program to commence in February 2013, comprised of 5000 meters of drilling to unlock the potential at the San Martin gold-silver mine. To facilitate this objective for 2013, the Company has renegotiated its loan facility with Sprott Resource Lending Corp. whereby Starcore will not be required to make any further principal payments on its outstanding loan with Sprott Lending until October 31, 2013. The Company and Sprott Lending have amended the terms of the outstanding credit facility to allow Starcore the flexibility to make one balloon payment by October 31, 2013, thus enabling the Company to immediately allocate surplus revenue to exploration.

Capstone Mining Announces TSX Acceptance

Capstone Mining Corp. announced today acceptance by the Toronto Stock Exchange of the Company’s Notice of Intention to make a Normal Course Issuer Bid. Pursuant to the NCIB, Capstone proposes to purchase through the facilities of the TSX and other Canadian marketplaces, from time to time over the next 12 months, if considered advisable, up to an aggregate of 34,014,871, being approximately 10% of the public float of its common shares, as of December 21, 2012. Purchases may commence through the TSX on December 31, 2012 and will conclude on the earlier of the date on which purchases under the bid have been completed and December 30, 2013. As of December 21, 2012, Capstone had 381,507,382 issued and outstanding common shares.

Kinross Issues Clarification Regarding Announcement by Southridge Enterprises

Kinross Gold Corporation would like to clarify a news release issued by Southridge Enterprises Inc. on December 26th, 2012 announcing a joint partnership between itself and Kinross relating to the Cinco Minas and Gran Cabrera properties in Mexico. The news release contained a number of statements regarding the value and status of the joint venture, and a quote from a Kinross employee.

Southridge Announces a Joint Partnership with Kinross (NYSE: KGC), a Major NYSE Listing Mining Company for its Cinco Minas and Gran Cabrera Properties is Valued at $550 to $600 Million

Southridge Enterprises Inc. is excited to announce a new Joint Partner, Kinross, a Major listed Mining Company for its Cinco Minas and Gran Cabrera properties. Southridge’s joint partnership with Kinross, a major NYSE listed gold mining company, is valued at roughly $550,000,000 to $600,000,000. Due to numerous shareholder inquiries Southridge and its Board of Directors felt the need to update the market on its recent announcement named, “Southridge Announces Signed Agreement with Major NYSE Listed Mining Company on Cinco Minas and Gran Cabrera Gold & Silver Mines in Mexico.”

Soho Resources Announces Consolidation and Private Placement

Soho Resources Corp. announces that at the Company’s Annual General and Special Meeting of shareholders held on December 21, 2012, shareholders of the Company unanimously approved a consolidation of the shares of the Company on the basis of up to an 8 (old) for 1 (new) share, and authorized the Directors of the Company to implement the Consolidation, and to determine the exact consolidation ratio and the timing of any Consolidation, in their sole discretion.

Oroco Resource Corp. Announces Closing of Private Placement

Oroco Resource Corp. is pleased to announce that it has closed its non-brokered private placement with a second tranche of 300,000 units at a price of $0.20 per unit for proceeds of $60,000. Each unit consists of one common share and one-half of one non-transferable common share purchase warrant. Each whole share purchase warrant is exercisable for a period of eighteen months into one additional common share at a price of $0.35 per share.

War Eagle Closes Non-Brokered Private Placement

War Eagle Mining Company Inc. has closed its non-brokered private placement announced on November 20, 2012 consisting of 4,350,877 units at a price of $0.07125 per unit for gross proceeds of $310,000. Each unit is comprised of one common share of War Eagle and one common share purchase warrant entitling the holder to purchase one common share of War Eagle at a price of $0.10 until December 21, 2014.

Vista Gold Corp. Announces Closing of Public Offering of Units

Vista Gold Corp. announced today the closing of its previously announced public offering of 4,182,550 units, which includes 545,550 units issued pursuant to the full exercise of the underwriters’ over-allotment option. The units were offered at a price to the public of US$2.75 per unit. Each unit is comprised of one common share of the Company and one-half of one common share purchase warrant, with each whole warrant exercisable to purchase one common share of the Company’s stock at a price of US$3.30 for a period of 24 months from the closing of this offering. The Company will not apply for the listing of the warrants on any stock exchange.

Colibri Announces Option Agreement for Internal Claims at the Ramard Project

Colibri Resource Corporation is pleased to announce that it has entered into an option agreement dated December 20, 2012 for the acquisition of two additional mining claims located within the Company’s Ramard concessions in Sonora, Mexico. The two claims are called “Picacho” and “El Dorado”, and are 60 and 64 hectares in size, respectively.

SilverCrest Reports Additional La Joya High Grade Intercepts 80m of 78.8 gpt Ag, 0.31 gpt Au, 0.5% Cu (137 gpt Ag Eq(i))

SilverCrest Mines Inc. is pleased to announce the results of an additional 15 holes (LJ DD12-90 to LJ DD12-104) of the Phase II drill program at its La Joya Property in Durango, Mexico. These are the final results for the Phase II drilling program. Phase II drilling results reported to date have extended the Main Mineralized Trend beyond the area containing the current Inferred Resource of 101.9 million ounces Ag Eq.

Santacruz Silver Announces Resource and Drilling Update at Rosario and Clarifies Disclosure

Santacruz Silver Mining Ltd. is pleased to announce the completion of an updated NI 43-101 mineral resource estimate on its Rosario Project in the Charcas Mining District, San Luis Potosi, Mexico. The mineral resource estimate was completed by Gustavson Associates, LLC, of Lakewood, Colorado. The measured and indicated silver equivalent resource amounts to 10.2 million AgEq ounces while the inferred resources stand at 2.5 million AgEq ounces. The initial resource estimate at the Rosario Project included only inferred resources and subsequent exploration work performed at the property by Santacruz has successfully upgraded 86% of these inferred resources to measured and indicated.

Mercator Minerals Secures Debt Facility to Replace El Pilar Pre-Construction Credit Facility

Mercator Minerals Ltd., further to the Company’s September 28, 2012 press release, is pleased to announce that it has executed an agreement with RMB Australia Holdings Limited (“RMB”) for a $30 million corporate debt facility arranged by RMB Resources Inc., a resource financing division of the FirstRand Group of South Africa. The Company has drawn down $27.3 million of the Facility. The remainder of the Facility will be available to Mercator once certain security is registered in Mexico.

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