Month: December 2014

Santacruz Silver Announces Director Resignation

Santacruz Silver Mining Ltd. announces that Mr. James Hutton has resigned as a Director with the Company. Mr. Hutton has been with Santacruz since it completed its first public share offering in 2012. The Company is conducting a search for a replacement director which it expects to complete in early 2015.

Chesapeake Provides Development Plan For Metates Updated Pre-Feasibility Study

Chesapeake Gold Corp. wishes to announce that the Company and M3 Engineering &Technology together with several industry leading international consultants are currently working towards the completion of an updated pre-feasibility study on the Metates Gold-Silver-Zinc Project located in Durango State, Mexico. The updated PFS will build on the results of the original PFS titled “Metates Gold-Silver Project NI 43-101 Technical Report Preliminary Feasibility Study” dated March 18, 2013.The Metates Project hosts one of the largest undeveloped gold, silver and zinc reserves in the world.

Scorpio Mining Corporation and U.S. Silver & Gold Inc. Receive Shareholder Approval for Business Combination

Scorpio Mining Corporation and U.S. Silver & Gold Inc. are pleased to announce that their respective shareholders have approved the previously announced plan of arrangement to complete a merger of equals that will combine their respective businesses. Shareholders of each company approved the Transaction at their respective special meetings of shareholders held today with over 99% of the votes cast in favour of the Transaction in each case.

NWM Announces Further Debt Extension to December 31, 2014; Provides Financing and Financial Update

NWM Mining Corporation announces that it has extended the due date of the current debt outstanding from September 30, 2014 to December 31, 2014. The extension provides further time for the company to continue its refinancing efforts. As previously announced, Global Resource Fund has agreed to continue to temporarily defer and accrue monthly interest payments. Additionally, Global Resource Fund has provided an additional $1,950,000 demand loan to cover several one-time payments required which will be repaid once delayed tax receivables from the Mexican tax authorities have been received. The demand loan carries an interest rate of 15%. While the Company is undertaking all efforts to successfully conclude a refinancing, there is no certainty that this will occur, and, if the Company fails to secure additional capital or otherwise restructure its business, in order to address its cash requirements, it may not have adequate liquidity to fund its operations and meet its obligations.

Coeur Mining to Acquire Paramount Gold and Silver

Paramount’s High-Grade Don Ese Deposit Expected to Provide Low-Capital, High-Margin, Near-Term Source of Future Production to Supplement Production from Coeur’s Palmarejo Mine

Substantial Development and Operating Synergies with Coeur’s Palmarejo Operation Anticipated to Create Significant Long-Term Value

Don Ese and Guadalupe Combined Expected to Produce an Average of Approximately Six Million Ounces of Silver and 110,000 Ounces of Gold Annually over the Next Eight Years

Tamino Minerals Provides a Corporate Update

Tamino Minerals, Inc. is pleased to announce to its shareholders and followers that it is making its final arrangements to close on a financing deal that will allow the company to become fully reporting in the very near future. In addition, this will allow Tamino Minerals, Inc. to fund its exploration, acquisition and operational activities at a more rapid pace and larger scale than previously anticipated.

REM (Rare Earth MInerals Plc) Completes £7m Funding.

Rare Earth Minerals Plc announces a funding of £7 million by way of a Placing and an Equity Swap Agreement with YA Global Master SPV, Ltd. at 0.9 pence per share. YAGM have contractually agreed that the effective date of the Swap Agreement commences on 1 February 2015.

Fortuna announces expansion of its San Jose Mine from 2,000 to 3,000 tpd

Fortuna Silver Mines Inc. is pleased to announce Board approval of two major capital projects for 2015 at the San Jose Mine in Mexico: mill expansion from 2,000 to 3,000 tonnes per day and construction of a dry stack tailings deposit and filter facility. The company is in a strong financial position to meet its capital budgets from operating cash flows and available liquidity.

Paramount Announces Agreement to be Acquired by Coeur and Spin-Off of New Exploration and Development Company

Paramount Gold and Silver Corp. and Coeur Mining, Inc. have entered into an agreement and plan of merger, dated as of December 16, 2014 pursuant to which Coeur will acquire all of the issued and outstanding shares of common stock of Paramount and the San Miguel Project. As a condition to closing the Merger, the shares of Paramount’s subsidiary holding its Nevada mining assets will be spun-off to holders of the Company’s common stock.

Riverside Resources Grants Options

Riverside Resources Inc. announces that it has granted a total 1,087,000 incentive stock options to certain Directors, Consultants and Officers of the Company. The Options are exercisable at $0.27 per share for a period of five years from the date of grant. The Options were granted pursuant to the Company’s shareholder-approved stock option plan and are subject to the policies of the TSX Venture Exchange and any applicable regulatory hold periods.

Aurcana Board Update

Aurcana Corporation wishes to report that it has accepted the resignation of Lenic Rodriguez from the Board of Directors.

San Marco Resources Acquires Option on Highly Prospective Property in the Cuatro de Mayo District

San Marco Resources Inc. has signed a two year option agreement with Argonaut Gold Inc. of Toronto, Ontario to acquire a 457 hectare concession that contains a number of established gold targets in the El Chunibas area of the Cuatro de Mayo District in northern Mexico. Under the terms of the agreement, San Marco can earn a 100% interest in this concession by paying Argonaut a total of $50,000 over two years ($10,000 within 90 days, $15,000 on the first anniversary and $25,000 on the second anniversary). Argonaut will retain a one percent NSR royalty on any future production.

Santacruz Silver Announces Fatal Accident at Rosario Mine

Santacruz Silver Mining Ltd. regrets to announce that a fatal accident occurred at the Rosario Mine in the State of San Luis Potosi, Mexico over this past weekend. An employee of a contractor was fatally injured while undertaking maintenance on Ball Mill #1 at the Rosario Mine.

Almaden Updates Status of Spin-Out of Mineral Exploration Assets and Royalties

Almaden Minerals Ltd. announces that it will be deferring shareholder approval of the spin-out of its early stage exploration projects, royalty interests and certain other non-core assets, which was originally announced in the Company’s October 21, 2014 news release, to the Company’s 2015 annual general meeting. The AGM is expected to be held on or about June 2015. Shareholder approval is being deferred to avoid the expense of an additional shareholders’ meeting and to allow more time for an internal restructuring of the projects, royalty interests and assets to be spun out. The Company considers the deferral to be a prudent cost saving opportunity given the market conditions while also providing shareholders more time to better understand the corporate reorganisation and its merits before voting. The Company remains committed to the spin-out and does not believe that the deferral of the shareholder vote will place the transaction at risk, although current market conditions are very challenging and have worsened since the original spin-out announcement. The Company will continue to monitor the market while it completes the internal restructuring and will provide updates accordingly.

Northair Silver Corp. Releases Results of 2014 Drilling Program at the La Cigarra Silver Project, Mexico

Northair Silver Corp. is pleased to announce that the 2014 drilling program at its flagship La Cigarra silver project located in Chihuahua, Mexico has been completed and all results are compiled and under review. The Program consisted of seventeen core holes totaling 4,860 metres. Drilling was distributed over several property wide targets with most work directed at in-filling and expanding the known San Gregorio and Las Carolinas resource area. Subsequent to the Program, Northair currently has a cash balance position of just under C$5.0 million.

Graphite One Announces Appointment of New CFO

Graphite One Resources Inc. is pleased to announce that W. Alan Ahlgren has been appointed Chief Financial Officer and Corporate Secretary effective December 12, 2014. Mr. Ahlgren will replace Dale Hansen, who resigned effective December 12, 2014. Mr. Ahlgren will be based in the Company’s office in Vancouver and the Calgary office will be closed.

Paget Minerals Grant of Stock Options

Paget Minerals Corp. announces that it has granted a total of 1,750,000 incentive stock options to directors and officers of the Company. The Options are exercisable at $0.05 per share for a period of five years from the date of grant and shall vest as to 100% upon the date of grant. The Options were granted pursuant to the Company’s shareholder-approved stock option plan and are subject to the policies of the TSX Venture Exchange and any applicable regulatory hold periods.

Marlin to Issue Shares to Settle Deferred Contractor Payments

Marlin Gold Mining Ltd. is pleased to announce that Marlin has arranged to settle certain deferred payments with the Company’s mining contractor at the La Trinidad mine by way of issuing common shares. The Company previously disclosed that it will issue up to 1,200,000 common shares to the contractor but has since negotiated to issue an additional 500,000 common shares, for a total of 1,700,000 common shares, to settle total deferred payments of US$1,270,355. The share issuance, which is issued with no additional entitlements, further ensures that Marlin and its contractor will be aligned as the Company continues to advance the La Trinidad mine.

Paramount Gold and Silver Continues to Intersect High Gold and Silver Grades at Don Ese Deposit in Mexico

Paramount Gold and Silver Corp. today announced results from three additional core holes drilled at the high grade Don Ese deposit, located on its 100%-owned San Miguel Project in northern Mexico. Exceptional grades and widths from these infill holes are likely to upgrade resources to the measured and indicated categories and potentially increase the resource size and grade.

Arian Silver Corporation: Result of General Meeting

Arian Silver Corporation, a silver exploration, development and production company with a focus on projects in the silver belt of Zacatecas, Mexico, is pleased to announce that the resolutions put to shareholders at the General Meeting which took place earlier today were duly passed on a show of hands.

Starcore Reports First Quarter 2015 Results

Starcore International Mines Ltd. has filed the results for the three months ended October 31, 2014 for the Company and its mining operations. The full version of the Company’s Financial Statements and Management’s Discussion and Analysis can be viewed on the Company’s website at www.starcore.com, or SEDAR at www.sedar.com. All financial information is prepared in accordance with IFRS and all dollar amounts are expressed in thousands of Canadian dollars unless otherwise indicated.

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