Month: April 2016

Brad Langille, CEO of GoGold stated, “We are deeply saddened by this accident and extend our sincere condolences to the family of the deceased. The health and safety of all personnel on site is our highest priority.”

“Primero invested a significant amount of time and resources during the first quarter to create a transformational shift in attitude towards achieving a workplace free of accidents. The safe operation of our two mines is our top priority and while we are encouraged to see a transformation, we know we must remain vigilant,” stated Ernest Mast, President and Chief Executive Officer. “Although production was well below our original expectations during this implementation period, we are committed to getting our operations up to full capacity as quickly as possible. We have a strong operational plan at San Dimas to deliver planned throughput rates with the more stringent ground control conditions for the remainder of 2016. During April, the mine has operated at production rates greater than the nameplate 2,500 tonnes per day. …”

“In Q1 2016, we again saw the upside potential of Platosa’s exceptionally high-grade massive sulphide mantos and began to see further material benefits from our long-term dewatering efforts,” stated Brendan Cahill, President and Chief Executive Officer. “In late February, we accessed the Rodilla Manto, approximately seven months ahead of schedule as we encountered mineralization outside of the Platosa resource block model and dry mining conditions facilitated rapid development. A significant amount of this ‘bonus’ mineralization was ultra high grade, with approximately 1,600 tonnes of ore produced from Rodilla during March grading over 1,000 g/t Ag, 10% Pb and 10% Zn. This ore was blended with lower grade and low-cost stockpiles to improve mill recoveries and concentrate payability. We are currently developing into the next level of the Rodilla Manto and expect the continuing optimization program at Platosa to deliver further operational improvements as the year progresses.”

Wealth Minerals Ltd. announces that, on April 14, 2016, it closed the settlement of $687,000.00 in debt related to certain accounts payable to Cardero Resource Corp. and a portion of the principal sum of certain outstanding loans originally made to the Company in 2011. The Company issued 2,000,000 common shares at a deemed price of $0.21 in settlement of such debt. The common shares issued have a hold period in Canada expiring on August 14, 2016.

BACANORA MINERALS LTD. is pleased to provide an update regarding its recent and forthcoming activities at the Sonora Lithium Project in northern Mexico.

Quaterra Resources Inc. today announced that Gerald Prosalendis, a current consultant of the Company, has been named President and Chief Operating Officer, effective immediately. To accommodate this appointment, Thomas Patton has resigned as President while retaining the positions of Chairman and Chief Executive Officer.

DynaResource, Inc. is pleased to announce that Mineras de DynaResource S.A. de C.V., the 100% owned subsidiary of DynaUSA and the exclusive operator of the San Jose de Gràcia Property in northern Sinaloa, México, is reporting the deliveries for sale, on March 21 and April 11, 2016, of an approximate 700 Oz gold contained in concentrates (exact weights in gold and silver oz. to be determined at final settlement).

Pete Dougherty, President and CEO, stated: “First quarter 2016 GEO production was in line with guidance at El Castillo, exceeded guidance at La Colorada and showed a 6% improvement over the fourth quarter of 2015 yielding 32,154 GEOs, primarily as a result of increased crusher throughput at La Colorada. As we look toward the second quarter of 2016, we anticipate further advancement in crusher throughput. Moreover, we continue to advance our development projects and capital programs including being on schedule with leach pad construction at La Colorada.”

“The Company’s strong performance in the first quarter is primarily due to higher production at the La Encantada and Santa Elena mines,” said Keith Neumeyer, President & CEO. “Over the past two quarters, our team has been diligently integrating Santa Elena’s previous operating systems into the First Majestic operating model and we are seeing increased production and improved efficiencies as a result. Also, at each operation we are achieving great strides due to initiatives put in place and implemented over the past two years.”

Corex Gold Corp. further to its release of November 2, 2015 wishes to advise that it shall commence a non-brokered private placement of up to 20,000,000 units at a price of CAD$0.05 per unit, for aggregate gross proceeds of up to CDN $1,000,000. Each Unit will consist of one common share and one-half of one non-transferable share purchase warrant. Each whole warrant will be exercisable by the holder to acquire one additional common share at a price of CAD$0.15 for a period of twenty four months following the closing of the financing.

Northair Silver Corp. is pleased to announce that security holders of Northair have approved the previously announced business combination with Kootenay Silver Inc., to be completed by way of a plan of arrangement, at a special meeting held earlier today. Under the terms of the Arrangement, Kootenay will acquire all the issued and outstanding common shares of Northair in exchange for 0.35 of a common share of Kootenay, plus 0.15 of a warrant to purchase Kootenay common shares at an exercise price of $0.55 for a period of five years from closing, for each Northair share held.

“Management is pleased with the performance of both operations in the first quarter of 2016,” stated Arturo Préstamo, CEO of Santacruz. “The Rosario Mine has now reached Level 4 and we are confirming a strong vein system, which together with improved mining methods has resulted in less dilution yielding improved head-grades at Rosario. At the Veta Grande Mine we are seeing significant progress both in terms of the milled tonnes and mine development, which will set us up very well for the second quarter.”

Almaden Minerals Ltd. announces that as a result of a review by the British Columbia Securities Commission, we are issuing the following news release to clarify our disclosure. The review identified filing and disclosure issues with the technical report titled, NI 43-101 Technical Report Preliminary Economic Assessment of the Ixtaca Project, Mexico filed on January 22nd, 2016. The Company has amended the report accordingly, which has now been refiled on SEDAR as an amended report. The Company wishes to clarify that the amendments are not material changes and the Report’s data, inputs, interpretation, conclusions and results all remain unchanged. The items amended according to NI 43-101 are listed below in order of appearance in the original report.

“We are very pleased with this strong show of support from our existing long-term shareholders as we continue to move forward with our strategy to further delineate the San Acacio Silver Deposit,” stated Bruce Winfield, President and CEO. “San Acacio and the surrounding region is a prolific silver producing area which has a long history of silver production. We are encouraged by the results we have realized to date and with our strengthened balance sheet, expect to continue to move the asset forward and demonstrate its significant resource potential.”

Arturo Bonillas, President of the Company, stated, “Gold production this quarter was strong mainly due to higher grades and lower waste stripping. Grades were 17% higher and strip was 18% lower than the same quarter last year. We remain on track to achieve our objectives for 2016.”

“Great Panther’s first quarter production of 1.01 million silver equivalent ounces is in-line with our annual guidance, and reflects our plans for modest growth and further focus on operational efficiency in 2016 after achieving 30% growth last year”, stated Robert Archer, president & CEO. “The increase in gold production and decrease in silver production are a direct result of the rising production from San Ignacio, which has a higher gold to silver ratio, and pillar recoveries at the Guanajuato mines. Our team’s continued pursuit of greater efficiencies and better grade control is another important factor in the overall success for the quarter and is reflected in more ounces produced from less tonnes.”

Jorge A. Ganoza, President and CEO, commented: “Silver and gold production exceeded guidance for the quarter. San Jose’s outperformance was driven by higher head grades, increase in milled tonnes, and better metallurgical recoveries. Caylloma reached the new mill throughput rate of 1,430 tpd at the end of March.” Mr. Ganoza continued, “Mill expansion from 2,000 tpd to 3,000 tpd is progressing as planned with commissioning scheduled for July 2016. At that point, the San Jose Mine will rank among the top thirteen primary silver producing mines in the world, increasing Fortuna’s consolidated silver and gold annual production to approximately 9 -10 million ounces of silver and 52 – 53 thousand ounces of gold.”

Golden Tag Resources Ltd. is pleased to announce that it has signed a letter of intent with Golden Minerals Company allowing Golden Tag to purchase Golden Mineral’s 50% interest in the San Diego Silver Project, Mexico. On completion of the formal purchase agreement, the Company will hold a 100% interest in the project. The proposed terms of purchase call for the payment of $Cdn Five Hundred Thousand Dollars and the issuance of Two Million, Five Hundred Thousand common shares of Golden Tag. Golden Minerals will also be granted a 2% NSR on the property. Completion of the purchase is subject to the negotiation and execution of binding legal agreements, Golden Tag raising the cash portion of the price (which it is currently seeking to secure) and TSX Venture Exchange acceptance. The LOI contemplates closing must all occur by June 17, 2016.

Macarthur Minerals Limited is pleased to announce that it has closed the previously announced non-brokered private placement for aggregate gross proceeds of CAD$300,000 for 15,000,000 units at a price of CAD$0.02 per Unit to Rare Earth Minerals Plc. The Unit Price is equal to the closing price of the Company’s TSX Venture Exchange listed shares on February 3, 2016, the date the Company announced the Offering.

IMPACT Silver Corp. is pleased to announce that it has closed its private placement announced March 30, 2016. The placement raised a total of $2,000,000 by the issue of 6,666,666 shares of the Company at a price of $0.30 per share.

“We delivered a solid operational quarter due in large part to the restructuring plan we put in place earlier this year combined with our continued focus on cost reductions and productivity improvements despite lower lead grades at the Galena Complex,” said Americas Silver President and CEO Darren Blasutti. “For the remainder of the year, our focus will be on improving our Cosalá Operations mine planning, securing financing for our San Rafael project and increasing mining in higher lead grade areas at the Galena Complex in order to maintain our momentum on lowering costs to achieve or exceed our stated guidance for the year.”