Day: July 20, 2017

Telson Resources Inc. is pleased to announce that it has closed the final tranche of the private placement as announced in a press release dated June 14, 2017 and accordingly has issued 1,732,691 shares at 55 cents per share, and paid an additional US$700,000 to Nyrstar Mining which concludes all payments that were currently due under the agreement terms as summarized in the former referenced press release.

Mr. Dan Omeniuk, Chairman and CEO of MX Gold stated, “Despite the rainy season in the region, it is encouraging to see that the project business plan is being executed on schedule, and that our Joint Venture efforts with GracePoint are producing positive outcomes. We are looking forward to the projected cash flow from Magistral, as it will serve as an integral part of our approach to building further value for MX Gold shareholders with a non-dilutive strategy.”

Kootenay Silver President & CEO Jim McDonald states, “The geology of the newly identified silver bearing target contained within the La Navidad Zone bears striking similarities to the San Gregorio Zone to the west, which hosts a large portion of La Cigarra’s contained NI 43-101 silver resource. Recent field results have made this region of the property a top priority for future drill testing, as its location and geological features offer considerable exploration upside to the potential that already exists within the main La Cigarra mineralized system”

Bob Willis, San Marcos CEO stated, “It is very early days, but we don’t want to understate the potential significance of this discovery. It’s too early to classify this new discovery though it has affinities to both breccia-hosted and intrusive-hosted systems, which are host to some large gold and gold-copper discoveries worldwide made in the recent past.”

“During the second quarter we realized significant improvements in operations as we reached dry mining conditions in mid-June,” stated Brendan Cahill, President and CEO. “Development rates, maintenance and electrical efficiency improved materially, grouting was eliminated and overall mobile pump usage was slashed. In late June, we began to see much higher rates of production, which have averaged 215 tonnes per day to-date in July, an increase of 72% relative to the first half of 2017, with access to fresh, high grade manto mineralization in Rodilla and Guadalupe South. Our next steps are to continue driving development headings to access additional high-grade working faces in the 623 and Pierna mantos and further ramp up production through the remainder of the year.”