Month: November 2016

Source Exploration Closes First Tranche of Non-Brokered Private Placement

Source Exploration Corp. is pleased to announce that it has closed a tranche of its previously announced non-brokered private placement consisting of 5,192,500 units of the Company at a price of $0.15 per Unit for gross proceeds of $778,875. Each Unit consisted of one common share of the Company and one transferable common share purchase warrant. Each Warrant entitles the holder to purchase one Common Share at a price of $0.25 per Common Share until November 30, 2018 (subject to acceleration of the expiry date as described below).

Alset Updates Progress on Re-Sizing Concessions and Drilling Permits

Allan Barry Laboucan, President and CEO of Alset Energy said: “One of our near-term project initiatives of re-sizing the concessions is well underway. With our largest concession completed, we can now continue with the reduction followed by splitting into smaller parcels of Sutti 22 as it remains advantageous and cost effective to do so. We are progressing expeditiously with our ongoing drill permitting and we are awaiting results from the laboratory for samples recently submitted that will provide us with insight into grade and recovery of lithium.”

Santacruz Silver Reports Third Quarter Financial Results

“Although the production rate at the Rosario Mine decreased during the quarter due to some structural complexity and narrower veins at depth in the Rosario Mine, our mining costs were nonetheless in line with recent quarters. In addition, the mineralized material to be shipped from the Cinco Estrellas property to the Rosario mill facility contains higher gold grades relative to the Rosario Mine’s historical grades with the effect that gold will now represent a substantial revenue driver at the Rosario Mine,” said Arturo Préstamo, President and CEO. “The impairment charge against the San Felipe Project is the result of an internal analysis that identified the property as being a non-core asset at this time in light of the opportunity that exists at the Company’s recently established operating base in Zacatecas, Mexico.”

Red Tiger Reports Quarter Ended September 30, 2016 Results

Red Tiger Mining Inc. today reported its financial and operating results for the three and nine months ended September 30, 2016. This press release should be read in conjunction with the Company’s unaudited condensed interim consolidated financial statements for the three and nine months ended September 30, 2016 and Management’s Discussion and Analysis for the corresponding period, available on the Company’s website at www.redtigermining.com and on SEDAR at www.sedar.com.

Almadex Options Los Venados Project to Wolverine Minerals Corp.

Almadex Chairman, J. Duane Poliquin commented, “At the beginning of this year, we anticipated drilling several of our projects, including Los Venados, but our success at El Cobre has dictated that we change plans and focus our technical resources there. In that context we are pleased to option Los Venados to a group which is keen to advance the project through drilling.”

Almaden Drills Further New High Grade Mineralisation Within and Outside Amended PEA Pit, Hits 15.80 Meters of 4.31 g/t Gold, 98.0 g/t Silver and 14.20 Meters of 3.08 g/t Gold and 161.2 g/t Silver

J.D. Poliquin, chairman of Almaden stated, “Today’s results once again show the presence of the high grade veins on the Tuligtic project. While we are now focussed on developing the Ixtaca deposit into a significant precious metals producer in Mexico, and are currently busy with engineering work and studies towards producing a PFS, we are also conducting exploration drilling to test for additional resource potential.”

Dr. Stewart Jackson and Mr. Ralph Stricklen Join Hawkeye Team

HAWKEYE Gold & Diamond Inc. is pleased to announce that Dr. Stewart Jackson and Mr. Ralph Stricklen have agreed to join the Hawkeye team as geological, mining and milling Senior Technical Advisors providing the Company with years of significant knowledge and experience which will be invaluable as the Company advances its projects.

Timmins Gold Files Amended Technical Reports

Timmins Gold Corp. announces that it has filed updated technical reports for each of the San Francisco Mine and Ana Paula Project. These reports were filed in connection with the financing announced on November 10, 2016 and include disclosure intended to bring the reports into compliance with National Instrument 43-101. The estimates of mineral reserves and resources contained in the previous versions of the technical reports have not changed and in the Company’s view, none of the changes made in either technical report are material to the assets or operations of the Company.

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