Esperanza Resources Corp. is pleased to announce that further to its press release of May 2, 2012 whereby it announced a private placement financing of up to 8,000,000 special warrants at a price of $1.25 per Special Warrant for gross proceeds of $10,000,000 that it is increasing the size of the Offering.
Scorpio Mining Corporation reports its financial and operating results for the first quarter ended March 31, 2012. This press release should be read in conjunction with the Corporation’s unaudited condensed interim consolidated financial statements and the Management’s Discussion and Analysis for the three months ended March 31, 2012 which are available on the Corporation’s website at www.scorpiomining.com and on SEDAR at www.sedar.com. All monetary figures are expressed in Canadian dollars unless otherwise specified.
Silver Sun Resource Corp. is pleased to provide an update on its mining activities at the Cherry Hill gold mine in Yreka, California as well as continued exploration work programs at the Yoreme project in Sonora State, Mexico and Zacatecas project in Zacatecas State, Mexico.
Torex Gold Resources Inc. is pleased to announce an updated National Instrument 43-101 compliant measured and indicated mineral resource estimate of 4.8 million ounces of gold at its 100% owned Morelos Gold Project in Mexico.
Esperanza Resources Corp. is pleased to announce the appointment of Greg Smith as the new President and Chief Executive Officer and Laurence Morris as the new Chief Operating Officer of the Company. Both are highly experienced professionals previously involved with the success of Minefinders Corporation Ltd. including the recent $1.5 billion acquisition of Minefinders by Pan American Silver Corp. Mr. Smith has also been appointed to the Board of Directors of Esperanza. The Company is also pleased to announce that Marcel de Groot and Andrew Swarthout have been appointed to the Company’s Board of Directors to fill the vacancies created by the resignations of Steve Ristorcelli and George Elliot, who have resigned from the Board of Directors of Esperanza.
Oremex Silver Inc. announces that it has amended the terms of the proposed private placement initially announced by press release on April 16, 2012.
A 500 meter underground drilling program commences at Cerro del Oro gold project
Initial 2,500 meter minimum surface diamond drill program planned for summer 2012
Both programs are expected provide a near term assessment of the resource potential of the 500 meter by 500 meter core area of the project
Primero Mining Corp. today reported financial results for the first quarter ended March 31, 2012. The Company reported net earnings of $18.6 million ($0.21 per share) with adjusted net earnings(1) of $18.8 million ($0.21 per share). Operating cash flows(2) were $21.3 million ($0.24 per share).
Minaurum Gold Inc. is pleased to report that Ocean Park Ventures Corp has released significant copper-gold-silver intercepts from the first two holes of their Phase 1 drilling program on Minaurum’s Adelita Project (see Ocean Park news release dated May 3, 2012). Ocean Park’s best hole (CGDD-12-009) cut 105.2 metres of 1.03% copper from 5.6 to 110.8 metres downhole, including 41.9 m of 2.21% copper, 0.93 g/t gold, and 77.5 g/t silver. Notably, this hole was lost in mineralization and assays are pending for the three subsequent holes drilled deeper in this area. The results extend the Cerro Grande zone to a strike length of 120 metres and to a depth of 300 metres from surface, with the discovery remaining open in all directions. Ocean Park can earn up to a 75% interest in the Adelita Project by completing and funding a feasibility study.
Fortunate Sun Mining Company Ltd. is pleased to announce that at the Company’s Annual General Meeting held on April 27, 2012 the following individuals were re-elected to the board of directors: Reg Advocaat, Peter Chen, Gary Nordin, Scott Young and Terrance Owen.
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