Month: February 2016

DynaResource, Inc. Appoints Mr. Rene L. F. Mladosich as General Manager of the San Jose de Gracia Project

Mr. Mladosich brings over 30 years of direct experience in the mining industry in México to DynaResource. He has worked for Companies such as: Compania Mineras de Cananea, Compania Minera Hecla (Hecla Mining), Compania Minera Pangea (now owed by McEwen Mining), Compania Minera Dolores (Minefinders), Minera Alamos de Sonora, and Compania Minera Pena de Bernal (Starcore International Mines). Mr. Mladosich has also provided consulting services to companies such as Minefinders, Pan American Silver and Scorpio.

Americas Silver Corporation Announces 2015 Production and Costs, 2016 Guidance and U.S. $2.9 Million Credit Facility

“Our strategic focus for the last several years has been to lower operating costs and improve productivity at both of our operating mines while transitioning the Galena Complex from silver-copper to silver-lead production,” said Darren Blasutti, President and CEO of Americas Silver Corporation. “We also made substantial capital investments over the last two years, which will allow us to increase our silver-lead resource to a level that should maintain current production rates at Galena for the next 7-9 years. In addition, we had another steady year at the Cosalá Operations and despite falling prices have once again extended the mine life at Neustra Señora. Management will continue to make the changes necessary to respond to the reduction in metal prices.”

Primero Receives Legal Claim Filed by Mexican Tax Authorities

Primero Mining Corp. announced today that its Mexican subsidiary, Primero Empresa Minera, S.A. de C.V. has received a legal claim from the Mexican tax authorities, Servicio de Administración Tributaria, seeking to nullify the Advance Pricing Agreement issued by SAT in 2012. The APA confirmed the Company’s basis for paying taxes on realized silver prices for the years 2010 to 2014 and represented SAT’s agreement to accept that basis for those years. The legal claim initiated does not identify any different basis for paying taxes. The Company believes this legal claim is without merit and it intends to vigorously defend the validity of its APA. The Company’s operations continue as usual.

Santacruz Silver Reports Fourth Quarter / 2015 Annual Production Results

“Santacruz has focused on producing cost-effective ounces in Q4 and will continue to do so in 2016,” stated Arturo Préstamo, CEO of Santacruz. “Our previous initiatives have provided the base from which we can continue to produce cost-effective ounces while at the same time increasing production as the opportunity arises. In the current market environment it is vital to the viability of the Company that we continue to operate in this fashion. In addition we are making significant strides at the Veta Grande Mine and anticipate bolstering our production performance once the Veta Grande milling facility is fully operational.”

Prospero Silver and Altiplano Sign New Agreement for the San Luis Cordero Project

Prospero Silver Corp. is pleased to announce that it has entered into a new agreement with Exploraciones del Altiplano, S.A. de C.V., a privately held Mexican Company, in respect of new work programs on the San Luis del Cordero property in Durango State, Mexico. A previous agreement, dated August 29, 2008, contemplated Prospero completing an exploration program exploration at Cordero with staged payments of cash; the issuance of Prospero shares and certain exploration expenditures on the property, leading to Prospero acquiring 100% ownership, subject to a residual 2% NSR royalty for Altiplano. Due to difficult market conditions, Prospero was not able to keep pace with the cash and expenditure requirements of that 2008, and had to rely on informal accommodations from Altiplano in order to retain its interest in the Cordero property…

Oremex Silver Inc. Files Updated Resource Estimate for its Tejamen Silver Project in Durango Mexico

Oremex Silver Inc. announced today that it has filed an updated National Instrument 43-101 technical report in respect of its Tejamen silver project in Durango, Mexico. The report was prepared by Gustavson Associates, LLC of Lakewood, Colorado and provides and updated resources estimate (as of December 10, 2015) for the project. The Report provides an estimated inferred resource of 19.8 million tonnes containing 28.7 million ounces of silver at 45.0 g/t and 15,700 ounces of gold at 0.025 g/t. The Report will be filed under the Company’s profile on SEDAR at www.SEDAR.com.

McEwen Mining Regains Compliance With NYSE Listing Standards

Chief Owner, Rob McEwen, stated: “This is wonderful news and it highlights our strong operational performance in 2015, where we increased our gold/silver production, decreased our production cost/oz., generated free cash flow and steadily built our treasury over the year. Also, during the year we declared and paid our first ever semi-annual capital distribution. Our share price appreciation since July, 2015 reflects the value in exercising financial discipline and resisting the temptation to finance at the bottom of the market. We refused to give away our future upside. We have not and will not sell metal streams, sell royalties or hedge our future production. At this time, we are debt free, we have $33 million in cash and bullion. As you can see, we have no pressure on our balance sheet and we will be paying our second capital distribution on February 12th. This is a great way to start 2016.”

Almadex Minerals Provides Exploration Update and 2016 Program Details

Almadex Chairman, J. Duane Poliquin commented, “We have an outstanding portfolio of mineral projects and we are pleased to commence drilling on the most advanced, El Cobre. At the same time, we also anticipate defining drill targets on other projects so that we can position ourselves to make the next discovery with our in-house exploration and drilling team.”

Steven Goldman to Join Comstock Board

Comstock Metals Ltd. is pleased to announce the appointment of Steven H. Goldman to the Board of Directors. Steven H. Goldman is a senior partner in the Toronto law firm of Goldman Hine LLP….

Canarc Leases Permitted “La Plata” Processing Plant in Zacatecas Mexico

Canarc Resource Corp. announces that it has signed a definitive agreement with the Zacatecas state government to lease and operate the permitted 500 tonne per day “La Plata” ore processing plant in the city of Zacatecas, Mexico, through its wholly owned Mexican subsidiary, Minera Oro Silver.

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