Month: May 2014

Yamana Gold Announces Senior Management Appointment

YAMANA GOLD INC. today announced Daniel Racine has joined the Company’s senior management as Senior Vice President, Canadian Operations and Mine Planning & Development, effective immediately. Mr. Racine most recently held the position of President and Chief Operating Officer for Brigus Gold Corporation. Prior to that role, Mr. Racine was Senior Vice President Mining at Agnico Eagle Mines Limited (“Agnico”) where he oversaw Agnico’s global mining operations. Mr. Racine joined Agnico in 1988 as a junior mining engineer and over his tenure progressively took on more responsibility including positions as Mine Manager at Laronde, Vice President Operations and Senior Vice President Operations. Mr. Racine has over 25 years of experience in the Canadian mining industry with extensive experience in Quebec.

Alamos Acquires Surface Rights at Cerro Pelon and La Yaqui

Alamos Gold Inc. reported that it has reached an agreement to acquire the surface rights for the Cerro Pelon and La Yaqui satellite deposits at its Mulatos mine allowing for the start of permitting and development activities. Closing of the agreement is subject to completion of due diligence and other customary closing conditions and is scheduled for the end of June 2014.

Citation and Inlet Sign Arrangement Agreement

Citation Resources Inc. and Inlet Resources Ltd. are pleased to announce that, further to their press releases of April 22, 2014 in respect of their planned business combination, the companies have entered into a definitive arrangement agreement dated as of May 27, 2014. The transaction will effectively combine the assets of both companies on a consolidated basis, with Citation becoming a wholly-owned subsidiary of Inlet.

Gold Resource Corporation Arista Intercepts Include 2.68 Meters of 11.72 G/T Gold, 748 G/T Silver and 1.41 Meters of 3.93 G/T Gold, 2,223 G/T Silver

Gold Resource Corporation announces continued Arista deposit high-grade drill intercepts including 2.68 meters of 11.72 grams per tonne gold and 748 grams per tonne silver. Gold Resource Corporation is a gold and silver producer with operations in the southern state of Oaxaca, Mexico. The Company has returned over $97 million to shareholders in monthly dividends since declaring production July 1, 2010, and offers shareholders the option to convert their cash dividends into physical gold and silver and take delivery.

Evrim Closes Non-Brokered Private Placement

Evrim Resources Corp. is pleased to announce that it has closed the non-brokered private placement announced on May 7, 2014. The company has issued 5,000,000 shares for gross proceeds of $1,600,000. The shares will be subject to a 4 month hold expiring on September 28, 2014. Proceeds from the Private Placement will be used for exploration and working capital purposes. Finder’s fees of $26,016 were paid in conjunction with the Private Placement.

IMPACT Silver Announces First Quarter 2014 Financial and Production Results

IMPACT Silver Corp. announced today its financial results for the three months ended March 31, 2014. The information in this news release should be read in conjunction with the Company’s unaudited condensed consolidated interim financial statements and Management’s Discussion and Analysis, available on the Company website at www.impactsilver.com and on SEDAR at www.sedar.com. All amounts are stated in Canadian dollars unless otherwise specified.

MAG Silver Announces Updated Juanicipio Resource Estimate

Bonanza Grade Silver Zone
Indicated Resources: 8.3 million tonnes containing 160 million ounces of silver
(MAG’s 44% share is 71 million ounces) grading 601 g/t silver
Inferred Resources: 2.4 million tonnes containing 48 million ounces of silver
(MAG’s 44% share is 21 million ounces) grading 626 g/t silver

Fortune Bay Corp. announces strategic review process

Fortune Bay Corp. announces that it has initiated a strategic review process to explore alternatives for the enhancement of shareholder value. The review will consider various alternatives for the Company, including the potential sale of the Company’s exploration assets, and any other options identified by executive management with the fundamental objective of realizing the best value for the Company’s shareholders.

Geologix Sells Non-Core Assets to Argonaut Gold Inc.

Geologix Explorations Inc. is pleased to announce the sale of the Company’s Nuestra Senora del Carmen II Property to Argonaut Gold Inc. Geologix has also executed an assignment to sell Argonaut its Consejo 1 Property. Both properties are located in Mexico. In exchange for these two properties, Argonaut will provide Geologix with total compensation of $600,000 USD.

Marlin Gold Closes Previously Announced Credit Facility, Withdraws Previously Announced Public Offering And Approves Additional Private Placement Of Common Shares

Marlin Gold Mining Ltd. announces that it has closed its previously announced credit facility with Sprott Resource Lending Partnership for $10,000,000. The Loan will bear interest at a rate of 10% per annum, and will be secured against all of the assets of Marlin and the majority of the assets of its subsidiaries. However, the conditions of the Loan allow for the shares of Sailfish Royalty Corporation (a wholly-owned subsidiary of Marlin) to be distributed by Marlin to its shareholders on a pro-rata basis. The Loan will be payable in full on or before October 31, 2015, subject to certain prepayment rights in favour of Marlin. Medalist Capital Ltd. was paid a finder’s fee of 2% in connection with the Loan.

Silver Standard Announces Changes to the Board of Directors

Silver Standard Resources Inc. is pleased to announce that Beverlee F. Park has joined the Company’s Board of Directors effective May 20, 2014. Ms. Park will also serve as a member of the Audit Committee and the Safety and Sustainability Committee. Ms. Park is replacing Richard C. Campbell who retired from the Board after serving as a Director of Silver Standard, including service as the Chair of the Safety and Sustainability Committee, since 2008.

Orex Exploration Inc.: Prolongation of the Delay to Close the Private Placement

OREX EXPLORATION INC. – The Corporation announces that it has extended to July 10, 2014 the proposed non-brokered private placement of units for a maximum amount of $500,000. Each unit will comprise one common share of the Corporation at a price of $0.05 and one whole common share purchase warrant, at an exercise price of $0.05 per share, valid for a three-year period. Insiders of the Corporation may subscribe for more than 25% of the offered units. The subscribed securities will be subject to a hold period of four months from the closing date. This private placement is subject to the final approval of the TSX Venture Exchange.

Prospero Completes Private Placement

Prospero Silver Corp. is pleased to announce that on May 23, 2014 it completed the non-brokered private placement first announced on April 15, 2014 of 5,000,000 units at a price of $0.05 per Share, for gross proceeds of CDN $250,000. Each unit is comprised of one common share and one full non-transferable share purchase warrant. Each warrant is exercisable by the holder to acquire one additional common share at a price of $0.10 per warrant for a period of 12 months from the date of closing subject to acceleration of the expiry date as set out below.

Source Intersects 1.44 g/t Gold Equivalent Over 45.0 Metres With Step-Out Drilling at Las Minas

SOURCE EXPLORATION CORP. is pleased to report step-out drilling at the Santa Cruz target of its Las Minas project continues to intersect wide zones of gold-silver and copper skarn mineralization including 1.44 g/t Gold Equivalent (Au Eq) over 45.0 metres in hole LM-14-SC-04. A high-grade interval grading 11.96 g/t over 2.0 metres was intersected in the upper portion of the drill hole. Drilling at Las Minas is scheduled to resume in the first week of June. Current activities at the site include construction of drill roads and pads, with planned detailed surface mapping and sampling for target generation.

Primero Secures $75 Million Revolving Line of Credit

Primero Mining Corp. announced today that it closed a previously announced $75 million revolving credit facility with a syndicate of lenders. The Line of Credit has a three year term, a floating interest rate that the Company expects to be approximately 4% per annum for the first six months and is secured by a charge over substantially all of the Company’s assets. Coincident with and as a condition of closing the Line of Credit, the Company repaid the outstanding $27 million promissory note held by Goldcorp Inc. bearing interest of 6% and originally due December 31, 2015.

Goldcorp drops hostile bid for Osisko Mining

Goldcorp Inc.’s decision to drop its C$3.2 billion ($2.9 billion) hostile bid for Osisko Mining Corp. in the face of a rival offer shows the industry has found new discipline after years of value-destroying deals, BlackRock Inc.’s Catherine Raw said.

Big North Closes The Acquisition Of The Past Producing El Tejon Flake Graphite Mine and Mill in Mexico

BIG NORTH GRAPHITE CORP. is pleased to announce that further to the Company’s press releases of December 19, 2013 and February 5, 2014, pursuant to a share purchase agreement with MAG Exploration Services Inc. and Cesar Javier Guajardo Villarreal, the Company has acquired all of the shares of Grafito de Mexico, S.A. de C.V., held by the Vendors (which shares represent 97.5% of the issued and outstanding share capital of Grafito). Grafito is the registered and beneficial owner of the El Tejon property.

Silver Bull Announces Execution of Definitive Share Purchase Agreement With BHK Resources, Inc.

Silver Bull Resources, Inc. is pleased to announce that it has executed a definitive share purchase agreement with BHK Resources Inc. a capital pool company with TSX Venture Exchange trading symbol BHK.P, in connection with the proposed sale of Dome International Global Inc., a wholly-owned subsidiary of Silver Bull which holds, indirectly, a 100% interest in and to the Ndjole manganese and gold project, located in Gabon. The proposed transaction was previously announced on December 17, 2013.

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