Author: Josue Gomez

Gold Resource Corporation announced that effective March 16, 2016, the Board of Directors increased its size from four members to five and appointed Mr. Alex Morrison to fill the newly created vacancy. Gold Resource Corporation is a gold and silver producer with operations in Oaxaca, Mexico and exploration in Nevada, USA. The Company has returned $108 million to shareholders in monthly dividends since commercial production commenced July 1, 2010, and offers shareholders the option to convert their cash dividends into physical gold and silver and take delivery.

Silver Spruce Resources announces that William A MacPherson BSc P. Eng (Ret’d) of Halifax, Nova Scotia has resigned as Chairman and Director of the Company. Mr. MacPherson helped steer the Company in challenging market conditions and the Company thanks Mr. MacPherson for his dedicated service. Mr. MacPherson has agreed to be available as an advisor and consultant.

BOWMORE Exploration Ltd. is pleased to announce that it has negotiated, subject to regulatory approval, a non-brokered private placement for total gross proceeds of up to $750,000. The Private Placement will consist of up to 5,000,000 units at a price of $0.07 per Unit, each Unit consisting of one common share to be issued and one-half of one common share purchase warrant, and up to 4,000,000 flow-through units at a price of $0.10 per Flow-through Unit, each Flow-through unit is comprised of one flow-through common share and one-half common share purchase warrant. Each whole Warrant will entitle the holder to acquire one common share of the Company for a period of twenty four months at an exercise price of $0.15 for the first twelve months and $0.20 thereafter per share.

“In the fourth quarter, mining operations at San Francisco were negatively affected by greater than expected waste tonnes mined due to block model variability versus forecast,” stated Interim CEO Mark Backens. “We have made adjustments to the model and operating plan and we have already seen a positive difference to date in Q1 2016. Due to the recent rise in gold prices, we are evaluating the possibility of mine life extension beyond 2016. In the meantime, we remain on track to achieve 2016 objectives which is to produce between 75,000 and 85,000 gold ounces at a cash cost of $750 to $850 per gold ounce.”

“This quarter we were able to announce two significant milestones; we entered into an agreement to sell our San Pedrito Property, expecting to net the Company approximately US$7million; and we poured our first doré bar from the newly commissioned Altiplano Concentrate Processing Plant located in Matehuala, Mexico. Along with our continued production and positive cash flow from our San Martin mine in Queretaro, we are expanding our profitable footprint in Mexico in accordance with our long term goals.” reported Robert Eadie, President of the Company.

“Our investment in exploration continues to pay off,” stated Ernest Mast, President and Chief Executive Officer. “We have successfully grown our total Mineral Resources through the addition of new mineralized areas, such as the Froome Zone at Black Fox. We have taken measures to improve our modelling methodologies to maximize future free cash flow generation and provide more certainty to our mine plans. Looking to the future, we have a very positive outlook with expected exploration results from the Froome Zone and other Froome-like targets at Black Fox, and from areas located outside the Silver Purchase Agreement at San Dimas such as the Ventanas property and Lechuguilla concession.”

Northair Silver Corp. is pleased to announce that it has filed its management information circular and related proxy materials on SEDAR in advance of the Company’s special meeting of shareholders to be held on April 14, 2016 to seek approval of the proposed plan of arrangement with Kootenay Silver Inc.