Month: August 2013

Monarchy Resources Provides Update on Three Chihuahua Mines

Monarchy Resources, Inc. is pleased to provide an update on its interest in its three working mines; Morelos, La Luna, and Peneto. The Company is a 45% shareholder in New World Metals, the owner of these three mines located in Chihuahua, Mexico.

McEwen Mining Files NI 43-101 Technical Report on El Gallo Complex

McEwen Mining Inc. announces that the technical report titled “Resource Estimate for the El Gallo Complex, Sinaloa State, Mexico” dated June 30, 2013 has been filed under the company’s profile on SEDAR (www.sedar.com) pursuant to the requirements of Canadian National Instrument 43-101 and is also available on the company’s website – www.mcewenmining.com. The technical report, prepared by John Read , CPG, McEwen Mining’s Senior Consultant, and Luke Willis , P.Geo, McEwen Mining’s Director, Resource Modeling, includes the updated resource estimates previously announced by the company in a press release dated July 17, 2013 and August 7, 2013. Mr. Read and Mr. Willis are both Qualified Persons as defined in Canadian National Instrument 43-101 and have reviewed and approved the contents of this news release.

Alamos Announces Closing of Esperanza Resources Acquisition

Alamos Gold Inc. today reported the completion of the previously announced acquisition of all of the issued and outstanding common shares of Esperanza Resources Corp. Shareholders of Esperanza were overwhelmingly supportive of the Acquisition, with 96.25% of the votes cast at a special meeting of the shareholders held on August 27, 2013 being voted in favour. A Final Order was granted by the Supreme Court of British Columbia on August 29, 2013 approving the Plan of Arrangement pursuant to which the Transaction was implemented.

Santacruz Silver Provides Update on Second Quarter 2013 Operations

Santacruz Silver Mining Ltd. reports on its operations for the second quarter ending June 30, 2013. The Company’s financial statements and accompanying management discussion and analysis can be viewed on the Company’s web site at www.santacruzsilver.com or on SEDAR at www.sedar.com.

Avino Reports Q2, 2013 Net Earnings of $1.45 Million “$0.05” per Share and Cash Flow from Operations of $2,343,377 “$0.09” per Share

Avino Silver and Gold Mines Ltd. is pleased to report its financial results for the second quarter ended June 30, 2013. All financial information is prepared in accordance with IFRS and all dollar amounts are expressed in Canadian dollars unless otherwise specified. The information in this news release should be read in conjunction with the Company’s unaudited condensed interim consolidated financial statements for the three and six months ended June 30, 2013 and associated management discussion and analysis which are available on the Company’s website at www.avino.com and under the Company’s profile on SEDAR at www.sedar.com.

Cortez Approves Share Consolidation

Cortez Gold Corp announces that the Board of Directors has approved a resolution consolidating the Company’s share capital on the basis of up to every ten shares of the Company being consolidated to one share, or to such consolidation ratio as may be acceptable to the regulatory authorities and approved by the directors of the Company. Currently, the Company’s authorized share capital is an unlimited number of common shares without par value, of which 36,128,501 shares are issued and outstanding, with a further 8,199,249 shares reserved for issuance upon the exercise of existing stock options and warrants.

Arian Silver Consolidation Of Shares

Arian Silver Corporation, a silver exploration, development and production company with a focus on projects in the silver belt of Mexico, announces following the approval of its shareholders at its general meeting held on 29 August 2013, every 10 common shares of no par value each in the capital of the Company that were in issue as at 18:00 on 29 August 2013 will be consolidated into one new common share of no par value in the capital of the Company.

Monarchy Resources Announces New President

The Company is pleased to announce that it has appointed Jose Perez as President, Secretary and Director of the Company. Jose Perez aged 39, over the last several years has consulted to various reporting and non-reporting companies in the mining, oil & gas, technology and energy efficiency sectors. Providing guidance on corporate finance, business development, marketing and investor outreach programs. Mr. Perez has a Bachelor of Commerce Degree from McGill University, where he specialized in Finance and International Business. He is currently consulting to a number of Mexican based operations. Mr. Perez is fluent in English, French and Spanish.

Full Metal Zinc Signs Binding Letter of Intent to Acquire the San Andres Silver Project and Mill, Durango, Mexico and Undertakes up to a $1,000,000 Financing

Full Metal Zinc Ltd. is pleased to announce that it has signed a binding letter of intent with Minera ISP, S. de R.L. de C.V. and certain of its affiliates including, Inversiones Mineras ISP San Andres, S. de R.L. de C.V., Operaciones Minera ISP San Andres, S. de R.L. de C.V. and Servicios Mineros ISP, S. de R.L. de C.V. to acquire 100% of the San Andres de la Sierra mine and processing facilities as well as the exploration land package around the area of historical operations. The transaction is subject to a 60 day due diligence period following which a definitive agreement may be concluded between the Company and Vendors.

Sierra Metals Announcement – Mine Fatality

Sierra Metals Inc. regrets to report that on August 20, 2013, an employee of a third party contractor was fatally injured when he was driving a front-end loader on a surface yard near the Promontorio silver mine and the ground below the equipment unexpectedly subsided. The Company believes the accident was caused by a ground subsidence following heavy rains recently experienced in the Cusi area. As a result of the accident, Mexican authorities have been contacted and they have directed that the Promontorio Mine temporarily stop production, pending completion of geophysical and hydrological surveys. The surveys have commenced and the Company anticipates receiving approval to restart operations by the end of this week. The Company will keep the market informed of any developments as they occur.

Bacanora Announces Inferred Resource Estimate of 1,486,000 Tonnes of Lithium Carbonate Equivalent on Lithium Joint Venture Lands

Bacanora Minerals Ltd. is pleased to announce an initial inferred lithium resource estimate of total inferred resources in the amount of 88,271,000 tonnes bearing an average grade of 3,163 Li ppm or 1.68% Lithium Carbonate Equivalent for 1,486,000 tonnes of LCE(1) for the Fleur and El Sauz concessions in northern Mexico. The two concessions form the lands under joint venture with Rare Earth Minerals PLC. REM has earned a 10% interest in the Concessions and provided notice of its intention to exercise its option to increase its interest in the Concessions to 30%. The new inferred lithium resource estimate is tabulated below (Table 1) and combined with previously reported lithium resources for the La Ventana Deposit are listed in Table 2.

New Gold suspends mining at Cerro San Pedro in certain areas

Shares in Vancouver-based New Gold Inc. opened down in Toronto Wednesday morning on the back of the announcement that the producer was suspending mining at its Cerro San Pedro mine in Mexico in the area of a pit wall movement, which occurred on August 23, 2013.

NWM Announces Start of Mining Operations at Newly Defined Gold Ridge Deposit Adjacent to Lluvia de Oro Mine

NWM Mining Corporation is pleased to provide an update on mining operations at the company’s new Gold Ridge open pit. The Gold Ridge zone of mineralization is located approximately 300m west and runs approximately parallel to the Lluvia de Oro open pit which has been the source of essentially all the ore mined to date at the Lluvia de Oro site. As of the end of July 2013 the company has mined approximately 3,700 ounces (240,000 tonnes at 0.48 g/t gold) from the new Gold Ridge pit to supplement production from the project’s primary Creston pit operations.

War Eagle Enters Into Agreement to Sell its Tres Marias Project in Mexico

War Eagle Mining Company Inc. reports that, on August 8, 2013 the Company’s BVI subsidiary, Tombstone Mining Inc., entered into a preliminary agreement with Contratista y Operaciones Mineras SA de CV, a Mexican mining company, to sell all its shares of its Mexican subsidiary, Tombstone Exploration de Mexico SA de CV to COMSA. Tombstone Mexico is the owner of the Tres Marias zinc-lead-germanium project in Chihuahua, Mexico. Total consideration for the purchase of Tombstone Mexico of US$2,500,000 cash will be satisfied by (i) US$50,000 payable on signing a definitive agreement with the balance in periodic payments over three years and (ii) a 2% net smelter return royalty to a maximum of a further US$2,500,000 with a possible increase to a maximum of up to US$3,300,000 depending on metal sales volumes and prices.

New Gold Announces Pit Wall Movement at Cerro San Pedro Mine

New Gold Inc. today announces that a minor pit wall movement occurred at its Cerro San Pedro Mine in Mexico on August 23, 2013. Approximately 800,000 tonnes of material moved on the northeast pit wall. Importantly, no one was injured, however, as a precautionary measure, mining in the area below the pit wall movement has been temporarily suspended. New Gold is working with geotechnical experts to evaluate the area and assess the impact on the company’s near-term mine plan and production at Cerro San Pedro. The objective is to develop a plan for the safe resumption of mining in the area below the movement, however, if it is determined that this area will not be accessible until the next phase of mining, scheduled to take place in 2014, the company’s preliminary estimate is that approximately 15,000 ounces of gold production would be carried forward from 2013 into future periods. The cost to mine and recover these ounces is not expected to increase by a material amount.

Esperanza Shareholders Vote in Favour of Plan of Arrangement with Alamos Gold

Esperanza Resources Corp. is pleased to announce that its shareholders have voted today at Esperanza’s special meeting of shareholders to approve the previously announced plan of arrangement with Alamos Gold Inc. whereby Alamos will acquire all of the issued and outstanding common shares of Esperanza.

Southern Silver Announces Private Placement

Southern Silver Exploration Corp. plans to issue up to 16,666,666 units in a non-brokered private placement at a price of $0.03 per unit to raise $500,000. Each unit will consist of one common share and one share purchase warrant, with each warrant exercisable to purchase one additional common share for a period of three years at an exercise price of $0.05 per share.

Mexus Gold Negotiates New Agreement for San Felix Mine

Mexus Gold US, and its subsidiary, Mexus Enterprises, S.A. de C.V., negotiated a new agreement covering the San Felix Mine. The company also entered a joint venture agreement with Atzek Mineral S.A. de C.V., a well-known Mexican mining exploration and mineral evaluation company, for participation in mining operations of the Mexus–Atzek Mine (formerly named Trinidad Mine).

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