Month: January 2017

Mammoth Resources Corp. is pleased to announce that the TSX Venture Exchange has approved a consolidation of its common shares on a 4 for 1 basis. The consolidation was approved by the Company’s shareholders at the annual general and special meeting held on December 14, 2016 and as previously announced in a press release dated December 19, 2016. The consolidation will take effect on Wednesday, January 18, 2017. Assuming no other change in the issued capital of the Company, it is expected that upon completion of this consolidation, Mammoth will have approximately 16,133,792 Common Shares issued and outstanding, reduced from 64,535,168 Common Shares which are currently issued and outstanding.

“Listing on the NYSE MKT is an important milestone for Americas Silver which will create greater exposure among institutional and retail investors in the U.S. and internationally at this important time of growth for the Company,” said Darren Blasutti, President and CEO.

Pete Dougherty, President & CEO stated: “Production at El Castillo normalized during the fourth quarter after a challenging third quarter, while La Colorada provided consistent production throughout 2016. The 34,384 GEOs of production during the fourth quarter represents our strongest quarter of the year and also is the largest quarterly production total since the second quarter of 2015. I’m also pleased to report that construction at San Agustin is advancing on schedule and on budget. With first gold production from San Agustin targeted for the third quarter of this year and the following ramp up, we expect our highest quarterly production and lowest costs during the fourth quarter of 2017. Looking forward in terms of operations, we remain focused on operating in a safe and environmentally conscious manner while providing production growth over the next several years as we construct and ramp up operations at San Agustin.”

Canasil Resources Inc. announces that Orex Minerals Inc. has provided notice of exercise of the first option for earn-in of 55% interest in Canasil’s Sandra-Escobar Project in Durango, Mexico. Orex also notified Canasil that it would not be proceeding with the second option to earn an additional 10% interest in the project for a total of 65%. As a result the project will proceed as a 55:45 Orex:Canasil joint venture. Orex has paid Canasil $500,000 and incurred more than US$2,000,000 expenditures to exercise the first option under the terms of an option agreement with Canasil announced on September 15, 2015. Orex exploration programs have included over 10,303 metres of core drilling in 65 drill holes, a helicopter-borne magnetic and radiometric survey and extensive surface sampling and mapping in the southeast of the project area.

“Despite the recent copper price momentum, our 2017 operating plan and five-year outlook takes a conservative stance on metal prices while focusing on further cost efficiencies at our existing operations,” said Darren Pylot, Capstone President and CEO. “We are looking forward to our 2017 opportunities, including building on the operating success at Pinto Valley, extension of mining activities at Minto and the zinc potential at Cozamin.”

McEwen Mining Inc. is pleased to announce annual consolidated production in 2016 was 145,530 gold equivalent ounces using a gold to silver ratio of 75:1, or 101,482 gold ounces and 3,303,709 silver ounces.

Vendome Resources Corp. is pleased to announce that the Company has filed Articles of Amendment effecting its name change to Vanadium One Energy Corp. The Company expects that the shares will commence trading on the TSX Venture Exchange under the new name and ticker symbol “VONE” upon the opening of the markets on Monday, January 16, 2017.