Month: May 2016

Cyprium Mining continues to strengthen management team

Cyprium Mining Corporation is pleased to announce the appointment of Mrs. Rosario Mundo as Manager of Finance and Administration of all its operations in Mexico. A graduate of the Universidad Autonoma de Chihuahua as Certified Public Accountant, Mrs. Mundo has almost twenty years of experience in the mining sector in Mexico, having worked in senior positions for various subsidiaries of Goldcorp Inc for nearly ten years and more recently with Minefinders Corporation Ltd and Coeur Mining Inc. Mrs. Mundo also has completed post-graduate studies in Business Financing and Personnel Management. Reporting directly to Cyprium’s Chief Executive Officer, Mrs. Mundo will be responsible for accounting, tax matters, audits, financial reporting and budgeting, internal controls, payroll and costs control.

Millrock Closes Tranche Two of Non-Brokered Private Placement

Millrock Resources Inc. reports that the final portion of the non-brokered private placement announced on May 4, 2016 has closed and a total of 10,670,660 Units at a price of $0.29 per Unit were issued for gross proceeds of $3,094,491.40. The Company raised a grand total of $3,596,191.40 in this financing.

Gold Resource Corporation Continues Returning High-Grade Drill Intercepts at Switchback Including 9.50 Meters of 8.85 g/t Gold, 669 g/t Silver, 3.15 Meters of 15.79 g/t Gold, 110 g/t Silver and 13.23 Meters of 4.03 g/t Gold, 114 g/t Silver

Mr. Barry Devlin, Vice President of Exploration, stated, “This latest round of drill results from Switchback continues to define, as well as expand, this impressive polymetallic vein system comprised of multiple en echelon veins. In particular, step-out Hole 516115 expands high-grade mineralization to the southeast where we had thought precious metal grades may have started to decrease. It is also exciting to see some of the highest gold grades drilled to date at Switchback in these latest intercepts. Our primary exploration goal is to continue expanding the Switchback epithermal vein system in the Arista Mine.”

Golden Goliath Resources – Field Work Underway in Uruachic

The Company is pleased to announce that exploration field work is currently being conducted by Fresnillo plc on some of the Company’s Uruachic properties pursuant to the Option Agreement signed between Minera Delta, S.A. de C.V. (the Company’s wholly owned Mexican subsidiary) and Desarrollos Mineros El Aguila, S.A. de C.V. (a Fresnillo plc’s subsidiary) dated November 5th, 2015. Sampling and other work is being conducted by Fresnillo personnel and a report on the work will be given to Golden Goliath at the year end.

Colibri Resource Announces AGM and Special Meeting Results

Colibri Resource Corporation announces the results of its Annual and Special Meeting held on May 27, 2016. Of the shares voted, at least 99% were in favour of all management resolutions proposed in the Company’s Management Information Circular.

Álamos Gold recibió el Outstanding Business Award otorgado por la Cámara de Comercio Canadiense en México.

En el marco del evento CANCHAM DAY2016 – Business Beyond Borders, mismo que se llevó a cabo el pasado jueves 26 de mayo, en el Hotel Camino Real Polanco, de la Ciudad de México, El Dr. Luis Chávez Martínez, Senior Vicepresidente México de Álamos Gold Inc. recibió el premio Outstanding Business Award (COBA) otorgado por la Cámara de Comercio Canadiense en México CanCham, por las acciones de Responsabilidad Social Empresarial llevadas a cabo por Minera Santa Rita, empresa filial de Álamos Gold Inc. especialmente en su participación con el proyecto, Taller de Costura que se creó para dar empleo a mujeres del Ejido 16 de Septiembre en el Municipio de Altar, Sonora.

Red Tiger Reports Quarter Ended March 31, 2015 Results

As reported previously, Copper production from the Company’s leaching operations began to decline in September 2014. Investigation of the cause revealed that a sudden and unprecedented occurrence of clay materials had appeared in the ore in the south pit of the mine where the last few benches of material from a “slip” (i.e., material higher up in the mine that slid down a slope as a result of being located along a fault zone,) area were being mined. This clay material was mixed with ore sent to the crusher and distributed onto the leach pad with a dozer. This resulted in a top layer of low permeability of the heap (i.e., stacked ore on the leach pad), greatly reducing the overall permeability of the heap and hence reducing the percolation of fluid flow through the heap to the SX/EW plant.

Silver Bull to Complete Private Placement of CDN$1,000,000

Silver Bull Resources, Inc., is pleased to announce its intention to complete the second and final tranche of the non-brokered private placement of units of the Company announced on May 12, 2016. The Units will be issued at a price of CDN$0.13 per Unit. Each Unit will consist of one common share in the capital of the Company and one Common Share purchase warrant. Each Warrant shall entitle the holder thereof to acquire one common share at a price of CDN$0.16 until the date that is 12 months following closing of the Private Placement. If the closing price of the common shares of the Company on the OTCQB Venture Marketplace is US$0.18 or higher for five consecutive trading days then the Warrant will expire thirty trading days from such fifth consecutive day.

Wealth Completes Listing on OTCQB® Exchange

“Wealth believes that this upgraded listing will provide good support for the Company’s newly implemented US investor relations program. The Company has seen an increase in U.S. trading over the past few weeks and we recognize and appreciate our US shareholders.” stated Henk van Alphen, Wealth’s President & CEO, “This upgrade, together with Wealth’s recently announced listing in the Mergent Manuals and News Reports ™, clears the way for greater liquidity in the US.”

Mexus Gold US: Santa Elena Mine Update

Mexus Gold US announced that work on the Santa Elena mine is progressing as planned. On My 24th, representatives from MarMar holdings and Mexus held a meeting and adopted a mining plan with numerous items being discussed and agreed upon. Out of this meeting came the decision to obtain a blasting permit in the name of the JV as opposed to using a blasting contractor. The parties can control costs and manage the process more efficiently than using an outside vendor. It will take 4 to 6 weeks to obtain this blasting permit allowing time for our partner to bring in additional equipment. In the end, this property will be brought into full production faster and much larger than first anticipated.

IMPACT Silver Announces First Quarter 2016 Financial and Production Results

Fred Davidson, President and CEO, stated, “Despite lower average silver prices in Q1 2016 compared to Q1 2015, the Company managed to increase production by 9% and reduce its operating expenses by 6% or $0.2 million over the same period last year. The Company’s strategy of focusing on higher grade mineral on both the exploration and production fronts is proving effective. Our production performance during the first quarter 2016 continues to demonstrate IMPACT Silver’s success and viability as a proven explorer and producer. In combination with stringent cost controls and improving grades, we achieved positive operational cash flow and positive EBITDA of $0.2 million this quarter. Despite lower silver prices persisting in 2016, our focus on profitability and higher grade zones of silver at San Ramon continues to keep IMPACT as a self-sufficient and enviable producer in the Mexican silver space.”

Endeavour Silver Completes Acquisition of Oro Silver Resources Ltd.

Endeavour Silver Corp. is pleased to announce completion of the acquisition of Oro Silver Resources Ltd., a wholly-owned subsidiary of Canarc, which holds the El Compas gold-silver mine property and a five-year renewable lease on the 500 tonne per day La Plata ore processing plant in Zacatecas, Mexico. Details of the acquisition were previously announced by news release dated May 9, 2016.

Cyprium Mining finalizes rehabilitation of shaft #3 of the Potosi Silver Mine

Mr. Alain Lambert, Chairman and CEO of Cyprium commented: “Over the last three months we have replaced almost 1.5 kilometers of railway tracks at level 0 and at level 4. This includes the installation of railway tracks between an existing raise from the level 4 proposed initial mining area to shaft #3 as well as the installation of railway tracks in the level 4 mining area where much of our near-term mining activities will take place. New air and water tubing has been installed and we have rehabilitated existing equipment including two air-loaders and a small electric locomotive. Once we have re-assembled the air compressor which was brought down into the mine last week, we will turn our focus on cleaning up old stopes in level 2, 3 and 4, retrieving existing mineralized material from past mining operations and initiating drilling and blasting.”

Mining in Mexico: Poised for a Rebound

Mexico’s mining industry has been thriving in the last few years, and investment in new projects has been continuing at a strong pace even with the sell-off in commodity markets. A major silver producer since the days of colonial rule when Guanajuato and Taxco became the jewels of the Spanish Empire, Mexico has consolidated its position as the number one producer of the precious metal. Fresnillo Plc, which in 2008 was spun off from Industrias Peñoles and listed on the London Stock Exchange, is Mexico’s biggest silver producer, thanks mainly to its massive Fresnillo and Saucito mines.

Oremex Silver Inc. Adopts Advance Notice By-Law

The purpose of the Advance Notice By-law is to provide shareholders with a clear framework for nominating directors. The board of directors believes adoption of the By-law is in the best interests of the Company and all shareholders to facilitate orderly and efficient meetings of the shareholders of the Company.

Endeavour Silver Announces Annual General Meeting Results

Endeavour Silver Corp. announces that at yesterday’s Annual General Meeting in Vancouver, shareholders voted in favour of all items of business, including the re-election of each director nominee. A total of 58,802,520 million votes were submitted by proxy, representing 54.34% of the outstanding common shares as of the record date.

IMPACT Silver Closes First Tranche of Private Placement

IMPACT Silver Corp. is pleased to announce that it has completed the first tranche of the brokered private placement announced on May 20, 2016. The placement raised a total of $2,530,800 by the issue of 4,440,000 worth of units at a price of $0.57 per Unit. Each Unit consists of one common share and one-half of one warrant. Each whole warrant entitles the holder to purchase one common share per Warrant at a price of $0.90 per Share for a period of 36 months from the date of issuance.

Golden Tag to Raise Up to $900,000

Golden Tag Resources Ltd. announces that it will seek to raise up to $900,000 through the issuance of up to 18 million equity units, each Unit consisting of one common share and one five year Share purchase warrant. Each Warrant entitles the holder to purchase one Share at a price of $0.07 per Share if exercised in the first year and $0.12 per share if exercised in years two through five from Closing. Insiders of Golden Tag may subscribe for $170,000 (3.4 million Units) of the placement, of which $100,000 is subject to shareholders approval at the 2016 shareholders meeting which has been rescheduled to June 27, 2016 in Montreal. The terms of the placement and any finders fees are subject to TSX Venture acceptance. Completion is targeted for June 27, 2016 and is subject to the negotiation and execution of definitive agreements as well as customary closing conditions. Of the proceeds raised, $500,000 will be used to purchase the remaining 50% interest in the San Diego silver project announced April 12, 2016 with any excess to be used for general corporate purposes. The placement is subject to a condition that a minimum amount of $500,000 being raised to allow the acquisition of the 50% interest in the San Diego project however this condition may be waived by the subscribers.

Tim Oliver to Lead Alset Energy’s Lithium Advisory Committee for Salars in Mexico

Alset Energy Corp. is pleased to announce that the Company has formed a specialty committee and hired expert personnel to help with the evaluation, advancement and potential development of the lithium-, potassium- and boron-rich salars in which the Company has an option to purchase under the previously announced binding Letter of Intent from Litio Mex, C.V. of Zacatecas, Mexico. The new committee will be led by Mr. Tim Oliver, previously of Lithium-X Energy Corp. and will be joined by Mr. David Hawkins and Mr. Brian Robertson.

Gainey Capital Announces Drilling Program at the El Colomo Gold-Silver Project in Western Mexico

David Coburn, CEO of Gainey, commented, “the commencement of the Phase 1 Drilling Program will target four out of the 21 high priority Mineralized Zones at El Colomo that have already been identified by the Company’s technical team. Our most recent exploration activity on the Project, which includes assay results and detailed mapping, gives us reason to be optimistic that the anticipated results of our Phase 1 drilling program will be the foundation of building a great company.”

Southern Silver Closes $1.1 Million Non-Brokered Financing

Net proceeds from the private placement will be used for working capital and costs associated with claim maintenance, permitting and other exploration expenses. Specifically, some proceeds will be applied towards the assessment of the Oro property in New Mexico. Surface exploration consisting of prospecting and trenching is planned to resolve targeting prior to permitting the next phase of drilling on the project.

Layne, A Granite Company, provides sustainable solutions for water resources and mineral exploration. Originally established in 1882, Layne offers a rich history of delivering safe, professional, and reliable water and minerals solutions throughout North and South America. Granite acquired Layne and its subsidiaries in the fall of 2018, to further Granite’s strategy to grow through acquisition and diverse end market expansion.
Major Drilling Group International Inc. is one of the world’s largest drilling services companies primarily serving the mining industry. Established in 1980, Major Drilling has over 1,000 years of combined experience and expertise within its management team alone.

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