Category: Exploration and Development

DynaResource, Inc. is pleased to announce that it received on June 21, 2013, 300 Shares of Series B Variable Capital Shares of DynaResource de Mexico S.A. de C.V. in exchange for the settlement of accounts receivable from DynaMexico in the amount of $31,090,710 Mexican Pesos (approximately $2.4M USD). After the issuance and receipt of the 300 Series B Shares, DynaUSA holds 80% of the total outstanding Capital of DynaMexico. DynaMexico owns 100% of the San Jose de Gracia Project in northern Sinaloa, Mexico.

Goldgroup Mining Inc. has read the news release disseminated by DynaResource, Inc. dated June 21, 2013. The Release references an Exploitation Amendment agreement between Dyna’s 100%-owned subsidiary, Mineras de DynaResource S.A. de C.V. and DynaResource de Mexico, S.A. de C.V. Goldgroup has not consented to this agreement and believes this represents a conflict of interest, among other things, because it is a contract between related parties, without the knowledge or consent to such an agreement by all of the DynaMexico shareholders, of which Goldgroup is a 50% holder and was not approved by the disinterested of the directors of DynaMexico.

Prospero Silver Corp. is pleased to announce that it has acquired by staking the 7,256 hectare Pachuca SE project located 24km southeast along strike of the historic veins of the Pachuca-Real del Monte mining district (Figure 1). This new project acquisition is part of a systematic exploration program in the Mexican Altiplano and reflects Prospero’s strategy of creating value as a Mexico-focused project generator. Pachuca SE will be added to the Company’s portfolio of 100% owned projects available for joint venture.

Golden Minerals Company announced that it has suspended operations at its Velardena mine as of June 21, 2013, in order to conserve the asset until operating plans and prices for silver and gold indicate a sustainable cash margin for operations. The employees at the Velardena mine were informed of the Company’s decision in the afternoon of June 21, 2013. In February 2013 the Company anticipated the Velardena operations would achieve operating cash neutrality during the third quarter 2013, assuming gold and silver prices of $1,600 per ounce and $30 per ounce, respectively. In May 2013 the Company projected a $5 million negative margin from the operations for the remaining three quarters of 2013 at prices of $1,500 gold and $25 silver. Metals prices have continued to decline and remain below these levels.

DynaResource, Inc. is pleased to announce that its 100 % owned subsidiary, Mineras de DynaResource S.A. de C.V. has entered into an Exploitation Amendment Agreement with DynaResource de Mexico S.A. de C.V., the 100 % owner of the San Jose de Gracia Property in northern Sinaloa, Mexico.

Goldcorp Inc. today announced the filing of a claim in the First District Court in Zacatecas by Minera Peñasquito that resulted in the temporary suspension of an agrarian court ruling. The hearing for a permanent suspension will be held on June 27, 2013. The agrarian court ruling relates to a claim by the Cerro Gordo Ejido that challenged surface land rights to 600 hectares (approximately 1,483 acres) of land located in Mazapil, Mexico and within the confines of the Peñasquito mine site. The ruling purports to nullify Goldcorp’s lease of the surface land and orders the land returned to the Cerro Gordo Ejido for payment of 2.4 million pesos.

Newstrike Capital Inc. announces further results from the ongoing drilling program at the Company’s 100% owned Ana Paula Project in Guerrero, Mexico. These results are from drilling designed to test targets within Ana Paula’s floating cone pit (Newstrike press release May 8, 2013) and below the lower part of the breccia zone.

Brigus Gold Corp. is pleased to advise that it has reached a settlement agreement in connection with its Huizopa exploration project located in the Sierra Madre Occidental mountains in Chihuahua, Mexico.

Gold Resource Corporation announces it intercepted new mineralization approximately 500 meters northeast of the Arista vein system in a stepout hole cutting 2.2 meters of 12.91 grams per tonne gold and 410 grams per tonne silver. Gold Resource Corporation is a low-cost gold producer with operations in the southern state of Oaxaca, Mexico. The Company has returned over $83 million to shareholders in monthly dividends since declaring commercial production July 1, 2010, and offers shareholders the option to convert their cash dividends into physical gold and silver and take delivery.

Minaurum Gold Inc. is pleased to announce the results of a review and report by Dr. James Franklin on its 100% controlled Santa Marta project in Oaxaca, Mexico. Dr. Franklin is a geologist with more than 40 years of research and exploration experience on both active and ancient volcanogenic massive sulfide systems along with numerous discoveries to his credit.