Day: April 16, 2014

Almaden Announces Positive PEA for the Ixtaca Gold-Silver Deposit, Mexico

Almaden Minerals Ltd. is pleased to report positive results from the maiden National Instrument 43-101 compliant Preliminary Economic Assessment on its 100% owned Ixtaca Gold-Silver deposit, Mexico. This deposit is a blind discovery made by the Company in 2010 on claims staked by the Company. The PEA was prepared by Moose Mountain Technical Services and Knight Piésold Ltd. The conclusions and recommendations of the PEA are that the Ixtaca deposit may be economically viable and the Company should proceed to a Pre-Feasibility study. Highlights of the PEA are summarised below (all values shown are in $US).

Oremex Silver Inc. Updates Status of Management Cease Trade Order

Oremex Silver Inc. announced today that further to its news release on April 1, 2014, the British Colombia Securities Commission issued a management cease trade order on April 1, 2014 for failure to its annual financial statements, CEO and CFO certifications and management discussion and analysis for the year ended November 30, 2013 by the deadline of March 30, 2013. The MCTO prohibits all trading by certain insiders of Oremex in securities of the Company until the order is revoked. The Company is required to provide bi-weekly status updates in accordance with National Policy 12-203 – Cease Trade Orders for Continuous Disclosure Defaults until the MCTO has been revoked of a full cease trade order issued.

Osisko Announces Friendly Acquisition Agreement With Yamana Gold and Agnico Eagle

Osisko Mining Corporation, Yamana Gold Inc. and Agnico Eagle Mines Limited are pleased to announce that they have entered into an agreement pursuant to which Yamana and Agnico Eagle will jointly acquire 100% of Osisko’s issued and outstanding common shares for total consideration of C$3.9 billion or C$8.15 per share. The total offer consists of approximately C$1.0 billion in cash, C$2.3 billion in Yamana and Agnico Eagle shares, and creation of a new company with an implied value of approximately C$575 million.

Torex Executes Commitment Letter for US$375 Million Project Finance Facility

Torex Gold Resources Inc. is pleased to announce the signing of a binding commitment letter with Bank of Montreal, BNP Paribas, Commonwealth Bank of Australia, ING Bank N.V., Société Générale, and The Bank of Nova Scotia in connection with a planned US $375 million 8.25-year senior secured project finance facility for the development of the El Limon — Guajes Project (the “Project”), located on the Company’s 100% owned Morelos Gold Property in Mexico. The commitment letter confirms that each bank has committed to provide its designated share of the Loan Facility and sets out the terms and conditions of the Loan Facility in a term sheet attached thereto. The Loan Facility is comprised of two facilities, a project finance facility of US $300 million and a cost overrun facility of US $75 million. Advances under the PFF will bear interest at a rate of LIBOR + 4.25% to 4.75% and advances under the COF will bear interest at the same rate plus an addition of up to a maximum of 3%. The Term Sheet includes standard and customary project finance terms and conditions with respect to fees and conditions precedent to closing and advances thereunder (including satisfaction of remaining customary due diligence and other approvals) and also remains subject to the completion and execution of definitive loan documentation. One of the customary due diligence items that remains outstanding is the acceptance, by the Banks, of the Environment and Social Impact Assessment, which is anticipated to be complete in early May.

Alta Vista reports on AGM

Alta Vista Ventures Ltd. is pleased to report that all resolutions were passed at its Annual General Meeting held on April 11, 2014. The Board of Directors and management would like to thank all shareholders for their continued support and confidence.

Major Drilling Group International Inc. is one of the world’s largest drilling services companies primarily serving the mining industry. Established in 1980, Major Drilling has over 1,000 years of combined experience and expertise within its management team alone.

Layne, A Granite Company, provides sustainable solutions for water resources and mineral exploration. Originally established in 1882, Layne offers a rich history of delivering safe, professional, and reliable water and minerals solutions throughout North and South America. Granite acquired Layne and its subsidiaries in the fall of 2018, to further Granite’s strategy to grow through acquisition and diverse end market expansion.