Day: July 28, 2015

New Gold Announces Second Quarter Results; Rainy River Construction on Schedule and on Budget

“The second quarter further solidified our company’s strong start to the year,” stated Randall Oliphant, Executive Chairman. “Our gold production year-to-date has been consistent with our plans. After investing in the mill expansion and waste stripping at our open pit operations in the first six months of 2015, we are now positioned to benefit from higher gold production coupled with lower costs in the second half of the year. At the same time, we further increased our financial flexibility by $175 million with the recently announced Rainy River streaming transaction. We look forward to the acceleration of construction activity at Rainy River through the remainder of this year and into 2016.”

Capstone Mining Second Quarter 2015 Financial Results

“In the second quarter of 2015 we continued our focus on flexibility and execution,” said Darren Pylot, President and CEO of Capstone. “We maintained our financial flexibility by entering into zero-cost collars for 36,000 tonnes of copper production at a minimum price of US$2.60 per pound to the end of Q3 2015 to ensure we can execute our 2015 capital program in this difficult copper price environment.”

Primero Reports a Fatal Accident at its San Dimas Mine

“We are deeply troubled by the loss of Juan Jesús Torres Jiménez, a young underground miner at our San Dimasmine,” said Joseph F. Conway, Chief Executive Officer. “Our thoughts and prayers go with his family and friends through this incredibly difficult time.”

Defiance Commences Drilling at San Acacio Silver Deposit

Defiance Silver Corp is pleased to announce the start of a 1,500m drill program on the San Acacio silver deposit in the historic Zacatecas Silver District in Mexico. The drill program is focused on expanding the current resource of 17.9 million oz AgEq contained in 2.902 mt grading 192.5 g/t AgEq. Drilling will build upon the recent discovery of significant silver and base metal mineralization below the limits of the current resource. The focus continues to be on the lowest risk/highest reward portion of the exploration potential at San Acacio by drilling along the 1.0 kilometer of old workings. Mineralization is open both to depth and along strike.

Ned Goodman Rejoins Excellon Board of Directors

“We are delighted to welcome Ned back on the Board,” stated Brendan Cahill, President and Chief Executive Officer. “His experience as an industry leader and company builder is invaluable. He returns to the Board at a vital time, as we upgrade Platosa into one of the lowest cost silver mines in the industry and position the Company to take full advantage of the opportunities afforded by current market conditions.”

Sierra Metals Appoints Gordon Babcock P. Eng. as Chief Operating Officer Enhancing its Current Management Team

Mr. Babcock is a second generation Professional Mining Engineer with over 34 years of experience in mine production management, project development, engineering, exploration and mine consulting in precious, base metals and aggregate operations in the Americas. He was most recently COO at Jaguar Mining and has previously worked for Nyrstar, Breakwater Resources, Coeur Mining Inc., Milpo, The Hochschild group in Peru, Muscocho Explorations, and The Noranda Group. Gordon holds a degree in Mining Engineering from Queen’s University and is an active member of the Association of Professional Engineers of Ontario, CIM and AIME.

Globexplore is a customer focused, technology driven mineral exploration drilling contractor devoted to top of class drilling methods and techniques that only years of experience can achieve. Every day we strive to be the industry leader by providing the highest rate of performance, professionalism, safety and environmental responsibility.

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Maza Drilling is a Mexican company established in 2007 in Mazatlán, Sinaloa. Our Canadian founder, Mr. Guy de Launiere, has over 20 years of international experience managing diverse drilling operations. Maza Drilling strives to compete at the highest levels in terms of recovery, effectiveness, efficiency, and affordability at every project while keeping at the forefront of technology to meet our customer’s needs in this demanding market.