Month: July 2016

Cyprium Mining Corporation is pleased to provide an update on recent financing activities totaling $1,271,810. These financing activities consisted in the successful completion of a private placement of $232,310 and the extension of the maturity date of various loans totaling US $813,750.

VENDOME RESOURCES CORP. announces an increase of $126,000 in its previously announced proposed non-brokered private placement financing for aggregate gross proceeds to the Company of up to $516,000 by issuing a maximum of 55,466,667 units at a price of $0.0075 per unit for maximum proceeds of $416,000, and 13,333,333 “flow-through” shares at a price of $0.0075 per share for maximum proceeds of $100,000. Each of the units will consist of one common share in the capital of the Company and one common share purchase warrant. Each warrant will entitle its holder to purchase one additional common share at an exercise price of $0.01 for a period of 3 years from the closing date of the private placement. There can be no assurance that the Offering will be completed, whether in whole or in part.

Southern Silver Exploration Corp. has announced that further to its recent news releases, the Company’s shares have been approved for listing on the OTCQB Marketplace as of July 18, 2016 and will commenced trading on that exchange. Real-Time Quote Display Service for the company’s US symbol will be available at: http://www.otcmarkets.com/stock/SSVFF/quote. The Company also maintains listings on the TSX.Venture Exchange in Canada, (SSV), the Frankfurt Exchange in Europe (SEG1) and the Santiago Exchange in Chile (SSVCL).

Mammoth Resources Corp. would like to take this opportunity to remind shareholders of the granting of a Management Cease Trade Order (“MCTO”) previously announced on June 2, 2016, such MCTO being a result of the Company having exceeded the timing for filing its year-end audited financial statements and accompanying Management Discussion and Analysis, such default of which were due to have been completed and filed on May 30, 2016 for the Company’s fiscal year end dated January 31, 2016 and that the Company continues to work on completing these statements and as a result is continuing to adhere to the MCTO. It is expected that the Company will continue to advise shareholders and regulators of the status of the default, via press releases, on a bi-weekly basis until such time as this default is rectified. As previously announced, it is anticipated that the Company will complete the year-end audit before the end of July 2016.

Excellon Resources Inc. is pleased to announce the appointment of Denis Flood, P. Eng., as Vice President Technical Services. Mr. Flood will lead the Company’s project assessment efforts, as well as overseeing ongoing opportunities to improve technical efficiencies throughout the Company’s existing operations.

The reorganisation of the company’s corporate structure will involve setting up a new company in England called Bacanora Lithium PLC, which will then acquire the existing company and become the parent organisation. Bacanora originally unveiled plans to re-domicile its corporate jurisdiction to the UK last month, arguing the move from Canada would deliver significant cost savings and better suit the senior management team which is primarily based in the UK. The move also reflects “the success of the company’s AIM listing and the positive reception from UK investors”.

Mark Brennan, President and Chief Executive Officer, stated: “We are pleased to announce the promotion of Mike McAllister to the position of Vice President of Corporate Development. We expect that this appointment will further enhance the high-quality marketing, investor relations and communication program that have been created at Sierra Metals.”

Pete Dougherty, President and CEO, stated: “We discovered more areas with economic mineralization than expected at both operations. However, as the areas are lower grade, it delayed mining of higher grade areas and resulted in lower production for the second quarter. We anticipate getting into the higher grade areas during the second half of the year which, coupled with production improvements, should improve output. Therefore, we are guiding to the low end of the full year production. While second quarter production was lower than anticipated, as we look to the future, these low grade gains have good potential to extend the life of both mines.”