Category: Exploration and Development

Key Points:

• New RC drilling program to start at Mesa de Plata within days
• Environmental approval granted for close-spaced 65 hole program
• Drill program will be appropriate for mineral resource estimation
• Access track construction and drill site preparation is underway
• Diamond core drilling at Mesa de Plata is nearing completion

Cyprium Mining Corporation is pleased to announce that it has closed the acquisition of a 53% controlling interest in a joint venture which owns: (i) the exclusive exploitation and exploration rights of the Potosi silver mine located in the historic silver rich mining district of Santa Eulalia in Mexico; (ii) the exclusive rights of possession, usage and operations to the San Guillermo processing facility which is located seven kilometers from the Potosi silver mine; as well as (iii) all of the exclusive exploration and exploitation rights to a property adjacent to the south of the Potosi silver mine known as La Chinche. Cyprium’s partners in the Joint Venture are entities controlled by members of Mr. Daniel Valenzuela’s immediate family. Mr. Valenzuela is a third generation miner located in Chihuahua, Mexico whose family has owned the Joint Venture Assets for over sixty years.

President Mike England states, “Alix’s Mexican consultants have succeeded in acquiring the only readily available ground on the inferred lithium trends and contiguous to BCM-REM Sonora Project. Our concessions are extremely well situated and, being on the same trend as Bacanora’s growing deposit, have us eager to commence work in the coming weeks.”

In cooperation with the Municipality of San Sebastián del Oeste in Jalisco State, Mexico, Endeavour is providing emergency supplies to four towns in the region of the Company’s Terronera property. The region was hit hard by Hurricane Patricia and some local residents were stranded without communications after the collapse of a bridge on their only access road. Fortunately no damage was sustained within the town of San Sebastián del Oeste or at the Terronera property. Endeavour’s Vice President of Exploration Luis Castro is working with municipal representatives to ensure the emergency aid addresses the immediate needs of the approximately 80 families affected.

States Kootenay President and CEO James McDonald, “We are very pleased to be able to report such excellent results from our initial metallurgical test work on La Negra. These preliminary results indicate that high silver recoveries should be achievable by simple, cost effective milling and extraction methods and they clearly reinforce La Negra’s potential to evolve into a low-cost, open pittable silver resource. This potential is further underscored by drill results to date on La Negra that have consistently returned multiple wide intersections of mineralization, starting at surface and remaining open along strike and to depth, at the kind of silver grades that are currently being mined by open pit methods in Mexico.”

Azure’s Managing Director, Mr Tony Rovira said, “The high precious metal values in the soil samples, including over 2.4g/t Au and 100g/t Ag, are a major development. The silver grades are generally more than double those that were recorded from the soil sampling at the nearby Mesa de Plata discovery, and the high gold assays indicate, for the first time, that this system may have significant gold potential.

Riverside Resources Inc. is pleased to announce that it has entered into an Option Agreement with Centerra Gold Inc. whereby Centerra can acquire a 70% interest in the Company’s Tajitos Project. In order to exercise the option, Centerra must incur $6,000,000 USD in aggregate exploration expenditures within approximately four years of signing the Agreement. Riverside will act as the Project Manager and collect management fees until the earlier of December 31, 2017 or $2,000,000 in exploration expenditures have been completed, after which point Centerra may elect a different Project Manager if they so choose. The required exploration expenditures are outlined in the table below:

Morgan Poliquin, President and CEO of Almaden, commented: “This is a significant transaction for Almaden. This mill is very well suited to the flow-sheet we envisage at our Ixtaca project in Mexico, and represents the same throughput as we outlined in our ‘ramp-up’ scenario in our PEA Update announced in September, 2014. Furthermore, we can acquire this infrastructure for substantially less than the cost estimated for brand new equipment in that PEA Update. For several years we have been dealing with very challenging market conditions for mineral exploration and development as metal prices have fallen along with sentiment. At Almaden we have a long-term view and look for the opportunities that such markets bring. We are very excited by the opportunities that this transaction could provide.”

Canarc Resource Corp. announces that it has been granted the right by the Zacatecas state government to enter into an exclusive agreement to lease their fully permitted 500 tonne per day processing plant “La Plata” in the city of Zacatecas, Mexico.

Mexus Gold US President/CEO Paul Thompson today announced that Argonaut Gold has been granted a permit by SEMPRAS to begin drilling at the Julio/Martha Elena property. Argonaut has contracted with Mexus to build roads and drill pads as necessary. The company began this work on October 16 [th] . Added CEO Thompson, “I feel as if Argonaut is ahead of schedule and am pleased with the progress to date.”