Author: Josue Gomez

Torex Gold Resources Inc. announced today that it has signed an engagement letter with a club of five financial institutions in connection with a planned project finance facility for the development of the Company’s 100% owned Morelos Gold Project. The Banks consist of BMO Capital Markets, BNP Paribas, Commonwealth Bank of Australia, ING Capital LLC and Société Générale. The Engagement Letter establishes the terms under which the Banks have been appointed to deliver on a club basis a project finance facility of US$250 million and is subject to due diligence, the completion of definitive loan documentation, credit and certain other approvals and the terms and conditions all as set out in the indicative term sheet (the “Term Sheet”) attached to the Engagement Letter. The execution of a commitment letter and definitive documentation is expected in the third quarter of 2013. The Term Sheet includes standard and customary project finance terms and conditions with respect to fees, interest rate margins and conditions precedent to closing. There is no requirement for mandatory gold hedging.

Bacanora Minerals Ltd. today reported that the Company is proposing a revised private placement financing for aggregate gross proceeds of up to $3,500,000 of units of the Company at a price of $0.30 per unit. Each unit will consist of one common share and one-half of one common share purchase warrant, with each whole warrant being exercisable into one common share at a price of $0.45 for a period of five (5) years. Pursuant to press release dated February 21, 2013, the Company had previously proposed to that the warrants have an expiry period of four (4) years. This proposed financing will supersede and replace the prior announced financing.

Pacific Comox Resources Ltd. reports it is carrying out a C$ 375,000 non-brokered private placement of secured, non-convertible, promissory notes. The funds raised will be used to advance the Company’s test of its gold/silver heap leach at the Mabel project in northern Sonora State, Mexico, and general corporate purposes. The financing is subject to regulatory approval.

Pershimco Resources Inc. is pleased to announce the appointment of Mr. John Kapetas and Mr. Octavio Choy to the newly created positions of Vice-President Exploration and Vice-President Latin-America, respectively.

Galore Resources Inc. proposes to extend by a further six months, the expiry date of the following share purchase warrants: