Month: July 2013

Cream Minerals Announces Proposed Sale of the Nuevo Milenio Silver-Gold Property

Cream Minerals Ltd. wishes to announce that the Company has entered into a letter of intent for the sale of the Company’s Nuevo Milenio Silver-Gold Property to a British Columbia numbered company controlled by a consortium group which includes shareholders of Cream for consideration of $600,000. The Transaction will take the form of a sale of all of the outstanding shares of the Company’s wholly-owned subsidiary, Cream Minerals de Mexico S.A. de C.V., which owns 100% of the 2,612.5 ha Nuevo Milenio Silver-Gold Property located in Nayarit State, Mexico. The Transaction is subject to the execution of a definitive agreement, as well as disinterested shareholder approval and the approval of the TSX Venture Exchange.

Riverside Resources Signs US$1,800,000 Three Year Strategic Alliance With Antofagasta for Copper Exploration in Eastern Sonora, Mexico

Riverside Resources Inc. is pleased to announce the signing of a three year, US$1.8M strategic exploration alliance with a wholly-owned subsidiary of Antofagasta Plc for generative exploration in the major copper belt of northwestern Mexico in the eastern part of the state of Sonora. The Alliance will focus on finding and developing new large copper deposits using Riverside’s extensive technical knowledge of copper systems and strong generative exploration team strategically based in Hermosillo, Sonora, Mexico.

Coeur Mining Increases Investment in International Northair Mines Ltd.

Coeur Mining, Inc. announced that it subscribed by way of an agreement with International Northair Mines Ltd. for the sale to Coeur of 9,600,000 common shares in the capital of Northair at a purchase price of C$0.14 per Common Share, for total consideration of C$1,344,000, as part of a private placement transaction of Northair issuing, in the aggregate, 13,153,896 Common Shares and warrants to purchase 1,776,947 Common Shares.

Colibri Reports 2013 Drilling Program Results at the Colibri (Pitaya) Gold Project in Sonora, Mexico, Including 4.0 metres of 0.9 g/T Au and 1.5 metres of 1.71 g/T Au and 54.0 g/T Ag

Colibri Resource Corporation is pleased to provide an update of exploration activities at the 6418.5 hectare Colibri Gold Project near the town of Caborca in Sonora, Mexico. In March of 2011, Colibri entered into an option and joint venture agreement with the current project operator, Agnico Eagle Mines Limited. Please refer to Company news release dated March 2, 2011 for details. AEM refers to the project as the Pitaya Project. AEM has met the expenditures needed to earn-in to a 51% share of the project.

Defiance Closes First Tranche of its Private Placement

Defiance Silver Corp. announces that it has closed the first tranche of its private placement announced on July 11, 2013, and has issued an aggregate 2,150,000 Units at $0.10 per Unit for gross proceeds of $215,000. Each Unit is comprised of one common share and one-half of one transferable share purchase warrant, each whole Warrant entitling the holders to acquire one additional common share for a period of 24 months at an exercise price of $0.15 per share if exercised during the first year and thereafter at a price of $0.20 per share.

Animas’ Deal with DKM at Santa Gertrudis Expires

Animas Resources Ltd. announces that its letter of intent with Dore King Min SA de CV, a private Mexican gold mining company, expired on June 30, 2013 after the exclusivity period was over. The Letter of Intent required certain conditions to be met before June 30th, 2013 and those conditions were not met.

Big North Mines First 160 Tons From Nuevo San Pedro

Big North Graphite Corp. announces that as part of the Company’s previously announced program of test mining at the Nuevo San Pedro project in Mexico (see News Release of May 24, 2013), Big North has mined and stockpiled approximately 160 tons of amorphous graphite. Big North initiated the test mining/bulk sampling program, as recommended by the Company’s NI 43-101 Technical Report titled “Mexico Graphite Project: Aki Wiki and Nuevo San Pedro Concessions”, to test the existing active and inactive workings. The Company will continue its mining operations and stockpiling as sales options are being reviewed.

Gold Resource Corporation Reports Preliminary Second Quarter Production; Maintaining 2013 Production Outlook

Gold Resource Corporation reported its preliminary production results for the second quarter ended June 30, 2013 of approximately 20,500 ounces precious metal gold equivalent (“AuEq”, calculated at actual sales price ratio of 60:1). Gold Resource Corporation is a low-cost gold producer with operations in the southern state of Oaxaca, Mexico. The Company has returned over $85 million to shareholders in monthly dividends since declaring commercial production July 1, 2010, and offers shareholders the option to convert their cash dividends into physical gold and silver and take delivery.

Drilling Continues to Expand Cascada

Azure Minerals Limited is pleased to announce further exceptional mineralised drill intercepts from the Company’s Cascada copper-gold-silver project, located in the Mexican state of Chihuahua.

Almaden Minerals Ltd. Announces Closing of $5.47 Million Non-Brokered Private Placement

Almaden Minerals Ltd. is pleased to announce that it has closed a non-brokered private placement by the issuance of 4,376,000 units at $1.25 per Unit to a small group of Mexican and Mexican focussed strategic investors. Each Unit consists of one common share and one non-transferable common share purchase warrant. Each Warrant allows the holder to purchase one common share at a price of $1.50 per common share until January 17, 2015 and, thereafter, at a price of $1.80 per common share until July 17, 2016. A finder’s fee of $232,500 in cash and finder’s warrants to purchase up to 186,000 common shares at a price of $1.50 per common share until July 17, 2016 was paid on a portion of the placement.

Freyja Resources Inc. Announces Receipt of TSX Venture Exchange Conditional Approval and Amendment to Pre-Acquisition Agreement Entered Into With Cyprium Mining Corporation

Freyja Resources Inc. is pleased to announce that it has received the conditional approval of the TSX Venture Exchange to the proposed offer to acquire, by way of a take-over bid, all of the issued and outstanding common shares of Cyprium Mining Corporation subject to fulfillment of ordinary conditions for transactions of this nature.

Sierra Metals Announces Significant Increase In Silver Resources At Its Cusi Property, Chihuahua, Mexico

Sierra Metals Inc. is pleased to announce a new silver resource estimate on its Cusihuiriachic Property (Cusi), Chihuahua State, Mexico. These resources are in two areas of the Cusi mine currently in commercial production, Promontorio and Santa Eduwiges, as well as in two prospective areas, La India and San Juan, where the company is doing underground development. This resource estimate was prepared by Gustavson Associates, LLC (“Gustavson”) of Lakewood, Colorado.

Southern Silver Reports 9.2 metres of 401g/t Ag, 8.5% Pb and 5.1% Zn and Extends Precious-Base-Metal-Rich Mineralization to 600 Metres Depth at the Cerro Las Minitas Project

Southern Silver Exploration Corp. reported today that its wholly owned subsidiary, Minera Plata del Sur, S.A. de C.V., under the direction of Freeport-McMoRan Exploration Corporation, has completed an initial eight core hole, 3445 metre drill program on the company’s Cerro Las Minitas project located in Durango, Mexico. Freeport-McMoRan Exploration Corporation holds a right to acquire up to a 70% indirect interest in the project.

Excalibur Announces Results of Mineralogy Study. High Metallurgical Recoveries Expected

Excalibur Resources Ltd. is pleased to report the results of two mineralogical studies on stockpiled ore samples collected on the Company’s Catanava property in Pinos, Zacatecas State, Mexico. The studies were completed by Terra Mineralogical Services Inc., the purpose of which is to better understand the ore characteristics and to provide some expected gold and silver recovery estimates. The results of the study indicate that the gold and silver recoveries will be maximized through a combination of a moderate fine primary grind and flotation. The assay results from SGS Lakefield are shown in the following table.

Red Tiger Announces the Resignation of a Director

Red Tiger Mining Inc. announces that it has received and accepted the resignation of Mr. Sergey Yanchukov from the Board of Directors. Mr. Yanchukov’s resignation is effective immediately.

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