Day: June 16, 2015

Major Drilling Group International Inc. is today announcing the retirement of Francis McGuire as President and CEO of the Company, and the appointment of Denis Larocque, Chief Financial Officer, to that position. Mr. McGuire will remain in his current role until the transition immediately subsequent to the Company’s AGM in September, 2015, at which point Mr. Larocque will assume the duties of the office. The Board is also very pleased to announce that Mr. McGuire has agreed to remain on the Board of Directors, and to stand for re-election at the upcoming AGM.

The Company closed the first tranche of a non-brokered private placement of units of the Company previously announced on November 10, 2014 and December 2, 2014, at a price of $0.05 per Unit by issuing an aggregate of 5,000,000 Units for gross proceeds of $250,000. Each Unit is comprised of one common share of the Company and one common share purchase warrant, each Warrant entitling the holder thereof to purchase one additional common share of the Company at a price of $0.10 for a term of 24 months after the closing of the Private Placement…

IDM Mining Ltd. is pleased to announce that Delbrook Capital Advisors Inc. and Lake Shore Gold Corp. have committed to invest a combined total of $1.4 million in Common Share Units and Flow-Through Units under the Private Placement previously announced by the Company on May 19, 2015. As a result of these major investments, IDM will increase the size of the Private Placement to raise aggregate gross proceeds of up to $2.5 million.

Kootenay Silver’s high-grade La Negra diatreme Silver Discovery is quickly proving to be a rare, near-surface grassroots discovery. Located within the Vancouver-based mining company’s Promontorio Property in Sonora, Mexico, the property represents a major near term opportunity for Kootenay Silver, Inc. The company owns 100% of the discovery, so it’s undoubtedly a relief for the company’s leadership and investors that it shows signs of evolving into potentially one of the richest near surface silver discoveries witnessed in Mexico in recent years…

“Given the complexity of the San Martin mine geological structure, it is not unusual to have fluctuations in ore grades causing the changes in production that we are experiencing. Despite this, the mine management has been excellent at reducing costs below budget and, coupled with the higher US dollar exchange rate, we have been able to continue to produce good cash flow from the mine operations exceeding $1 million for the quarter and $4.5 million over the nine months,” reported Robert Eadie, President of the Company.