Year: 2017

Mexico’s tax authority SAT and Grupo Mexico declined to comment. Fresnillo said it fully complied with its tax and royalty obligations while Penoles cited a letter from Mexico’s mining chamber rejecting allegations its members avoided taxes and questioned government calculations.

Brian Robertson, Chairman and CEO, commented: “We are excited about the expansion of the El Dorado / Juan Bran zone on strike as well as the number of high-grade intersections. The Cinco Senores zone, which is the site of extensive historical mining, is located approximately 670 metres to the west of the El Dorado / Juan Bran zone. The objective of the drilling program, which included infill/extension and step-out drilling, is to advance the Las Minas project to an initial mineral resource estimate, planned for Q2. The resource estimate will focus on the El Dorado / Juan Bran and Santa Cruz zones, two of six known mineralized zones at the property. The extension of the El Dorado / Juan Bran zone on strike to the west plus the previous drill results and sampling at the Cinco Senores zone – see news releases February 2, 2011 and August 8, 2011 and May 15, 2017 – is indicative of the extent of the mineralization at Las Minas.”

“We are excited to commence drilling at the San Acacio deposit and to follow up on the many targets that exhibit the potential to dramatically increase the size of the current resource. The current focus continues to be on the portion of the San Acacio project that has returned strong results, namely beneath the 1.2 km of historic workings on the vein along with the newly defined Quartz-Pyrite Breccia target.” said Bruce Winfield, President and CEO of Defiance Silver Corp.

Commenting on the PFS, Chief Executive Officer Greg McCunn said, “The Ana Paula Project has been significantly de-risked over the past six months with infill drilling now supporting a robust Mineral Resource Estimate, metallurgical test work defining an improved process design, capital and operating costs estimated to a high standard and our Environmental Impact Assessment approved by the regulators. The PFS has confirmed the project economics are very robust and we expect to continue moving the project forward to an investment decision in Q2 2018.”

Brian Robertson, Chairman, President and CEO stated, “We are very pleased to own a 100% interest in these two concessions. I wish to thank Mr. Farias for his strong support during the option period and willingness to renegotiate the option agreement on many occasions during difficult market conditions. We now look forward to advancing these properties, which contain historical mines with extensive workings, to the drill ready stage.”

Diamond Drill Hole LM-17-CS-04 Cuts 15.98 g/t Au Eq. over 2.0 Metres

Brian Robertson, P. Eng., Chairman, President & CEO stated, “We are excited about these recent additional drill results at the Cinco Senores target. The results combined with previous drilling and sampling as well as the presence of extensive historical mine workings at the site, are indicative of a potential parallel zone at Cinco Senores.”

Allan Barry Laboucan, President and CEO of Alset said: “We are making good progress towards an assessment of the potential of our salars in Mexico. Historic data indicates the presence of lithium and potassium (amongst others) in soils. The current drilling program will generate our own data regarding the composition of both brines and soils that exist in the salar and the potential to recover lithium (and potentially by-products such as potassium). Whilst the demand for lithium is well documented, the Company is very aware of the importance of fertilizer to Mexico, a country with a large farming industry comprised of mostly small farmers who cannot afford imported fertilizers. We are therefore very excited about the potential that a by-product from our lithium focus may become a domestic source of fertilizer chemicals. We are continuing to drill and will submit more samples for testing and look forward to reporting these results as we receive them.”