Category: Exploration and Development

Paramount Gold and Silver Drilling Extends Silver-Rich Zone by 2 Km at San Miguel Project With Intercepts Up to 144 G/T Ag

Paramount Gold and Silver Corp. today reported results from 18 new core holes drilled in the ongoing exploration of its 100%-owned San Miguel Project in northern Mexico. Of the 18 new holes, 15 returned good silver grades including 18 intercepts greater than I oz. of silver per tonne. These holes were completed after the San Miguel resource update by MDA and they are likely to increase the overall size and quality of the project’s resource.

Sierra Madre Announces Amended Financing for Continued Drilling at the Peñoles Project in Durango, Mexico

Sierra Madre Developments Inc. Further to the Company’s press release dated October 16, 2012, the Company advises its proposed $750,000 private placement to issue units at $0.03 per unit has not been accepted by the TSX Venture Exchange as fitting within the TSXV temporary hardship pricing policy. As a result, the Company intends to raise up to $750,000 through the distribution of up to 15,000,000 units at $0.05 per unit, on a post-consolidated basis.

Kootenay Silver Announces 30,000 Meter, Multi-Phase Drilling and Resource Expansion Program Slated to Commence on Promontorio Silver Project, Sonora, Mexico

Kootenay Silver Inc. is pleased to announce that, further to its press release dated October 31, 2012, announcing that the Company had closed a fully subscribed, $8,253,000 brokered private placement financing, it has secured drilling contracts and has begun mobilizing drill rigs to commence a major, multi-phase, 30,000 meter drill and resource expansion program on its flagship Promontorio Silver Project in Sonora, Mexico. The upcoming drill and resource expansion program is expected to employ up to five drill rigs at full capacity, representing the single largest drilling campaign conducted on the Promontorio project to date.

Source Begins Ground Magnetic Geophysical Survey at Las Minas

Source Exploration Corp. is pleased to report that it has begun an important ground-based magnetic geophysical survey over the central part of its concessions at the Las Minas property, State of Veracruz, Mexico. The area targeted by the survey measures approximately 5.5 kilometres by 2.5 kilometres and includes the recently reported high-grade Santa Cruz discovery area. Drilling at Santa Cruz returned several high-grade intersections, including 15.89 g/t/t Au, 12.98 g/t Ag and 2.25% Cu over 10 m (see press release dated January 26, 2012) and 7.90 g/t Au, 14.9 g/t Ag and 1.68% Cu over 2.0 metres (see press release dated October 18, 2012).

Avino October Production Report

Avino Silver and Gold Mines Ltd. is pleased to announce the following October production results from its San Gonzalo mine operation located on the Avino property near Durango, Mexico.

Vale and Corex Sign Definitive Agreement

Corex Gold Corp. is pleased to announce it has executed a definitive agreement with Vale Exploraciones Mexico S.A. de C.V., a wholly-owned subsidiary of Vale S.A. wherein Vale may acquire up to a 65% interest in the Company’s Santana Project. The objective of this alliance is to further develop the copper-gold porphyry target on the Santana Project, in Sonora State, Mexico. The Santana Project is located approximately 80 km southwest of the world-class Mulatos district. The Corex claim block is situated along a trend of producing mines in the Sierra Madre Occidental.

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