Category: Exploration and Development

San Marco Resources Inc. has granted two options to Exeter Resource Corporation to acquire interests in each of the Company’s La Buena and Angeles properties in Mexico. Should Exeter earn fully into each option, total exploration funding by Exeter would be $15M for La Buena and $20M for Angeles, including $2.4M of committed expenditures and $250,000 cash payments primarily during 2013. All expenditures and cash payments can be accelerated at any time at Exeter’s election. Details of the business arrangements are as follows:

Avino Silver and Gold Mines Ltd. reports that upgrading and expansion of its San Gonzalo mine on the Avino property near Durango, Mexico continues to progress rapidly. At San Gonzalo, activities in February were centered on underground development and mining as well as delivering new underground mining equipment. At the main Avino Mine, efforts have been focused on water treatment and de-watering to allow access to lower levels for exploration and development.

Soltoro Ltd. Soltoro Ltd. has completed six additional diamond drill holes at the El Rayo primary silver project in Jalisco, Mexico to test for sulphide mineralization at depth below the known Las Bolas deposit. Results have been received from four holes to date. On January 18, 2013, Soltoro announced results from drill hole Ray 12-152 which intersected 91.3 metres of 129 g/t silver equivalent including 11.2 metres of massive sulphide mineralization grading 537 g/t silver equivalent encountered at the base of the hole. The four holes drilled along strike from hole RAY12-152 at 50 metre spacings all encountered sulphide mineralization extending the deep sulphide zone 200 metres along strike (Ray13-158 is pending). Ray13-155 is a step-out hole drilled below Ray12-152. Results are as follows:

Cayden Resources Inc. is pleased to announce that it has received the first payment of $7.88 million USD from Desarrollos Mineros San Luis, S.A. de C.V. as a result of the previously announced sale of 2,492 hectares of non core land holdings of the Morelos Sur East concession.

Silver Bull Resources, Inc. is pleased to announce the drill results for the fifth and final batch of drill holes from the underground drill program twinning a series of “long holes” in the high grade zinc zone situated below and adjacent to the high grade silver zone, located at the eastern end of the Shallow Silver Zone on the Sierra Mojada Project in Coahuila, Northern Mexico.

Last year, GoGold Resources issued millions of shares and worked for months to acquire Absolute Gold Holdings for its Parral project in Mexico, home to a huge heap of tailings left behind after 300 years of operations at the Mina La Prieta mine.

Canasil Resources Inc. announces that the Company has received comprehensive drill permits for the Salamandra silver-copper-zinc-lead and Sandra-Escobar silver-gold projects in Durango State, Mexico. Since the introduction of new environmental and land use regulations in Mexico in 2012 with respect to drill permits, the process for approving drill permits requires longer lead times. As a result Canasil has systematically applied for drill permits for its drill ready projects in Mexico to avoid any delays with the implementation of any planned drill programs. The Company is pleased to have received comprehensive drill permits for both projects within a relatively short lead time following filing of the applications. Each of the permits provides for multiple drill holes from 25 drill locations with provisions for building drill access roads etc. with a validity of two years, which may be extended if necessary. This will provide significant flexibility in planning appropriate drill programs to test these high potential projects.

Los trabajadores fallecieron a consecuencia del accidente que se registró a las 10 de la noche de este miércoles en la Mina San Juan Unidad del Toro de la empresa First Majestic, ubicada en el municipio de Chalchihuites, Zacatecas.

Greg Myers, CEO and President of Caza Gold Corp., announces results from the 2012 mapping and sampling program in the Balleza-Cienega area of the Moris Project in Chihuahua, Mexico. Several new gold and silver targets were identified, extending previously known low-grade bulk mineable zones and higher grade veins. Several new areas of vein stockworks, and disseminated gold mineralization were identified during the mapping program.

Low Initial Capital of $232 Million and Low Operating Costs Generate Exceptional Economics
Estimated Average Annual Production of 57,300 ozs. Gold and 3.1 Million ozs. Silver for 14 Years
Estimated Base Case Pre-Tax NPV of US$707 Million at a 5% Discount Rate and IRR of 33.2%