Category: Exploration and Development

Sierra Metals Inc. reports that the State Court of Chihuahua, Mexico has overturned a previously announced resolution of the 8th Civil Court of the Judicial District of Morelos in Chihuahua (the ¡°8th Civil Court¡±), which absolved the Company from the claims brought against it by Polo y Ron Minerals, S.A. de C.V. The State Court has ordered the Company to: (i) transfer 17 mining concessions relating to its Bolivar project to P&R; and (ii) pay USD$422,674 to P&R.

Bacanora Minerals Ltd. is pleased to announce the results of a positive Preliminary Economic Assessment on the Company’s La Ventana Lithium Deposit in Sonora, Mexico. In addition, Company announces the disclosure of new inferred lithium resources, which are estimated at 16,829,000 tonnes averaging 2,557 ppm Li (1.3% Lithium Carbonate Equivalent, “LCE”(1)), bringing the total for estimated inferred resources for the Project to 60 million tonnes averaging 3,000 ppm Li (1.6% LCE or 930,000 tonnes LCE).

First Majestic Silver Corp. is proud to announce that the Del Toro Silver Mine, located in the state of Zacatecas, Mexico, has achieved initial silver production.

Alamos Gold Inc. said Thursday there was no new information that would cause it to change its hostile offer for Aurizon Mines Ltd. (TSX:ARZ) following a formal rejection by the company’s board.

Almaden Minerals Ltd. is pleased to announce the remaining results from the 2012 drill program on the Ixtaca Zone of the Company’s 100% owned Tuligtic project, Mexico. Drilling confirmed the high-grade intersections previously announced on section 11+000E (see Almaden news release of November 26th, 2012) with a new intersection on this section of 60.50 meters of 2.21 g/t gold and 35.8 g/t silver (2.9 g/t gold equivalent). Mineralisation was also traced 50 meters further to the east with intersections on section 11+050E including 100.84 meters of 0.67 g/t gold and 7.5 g/t silver (0.8 g/t gold equivalent). Further drilling is planned to both expand known mineralisation and to define the new high grade zone seen on section 11+000E, the extent and orientation of which are not presently understood.

Prospero Silver Corp. is pleased to announce that it has signed option agreements enabling it to earn 100% of two additional claims, Sucara (71.53 hectares) and Dos Amigos (90.39 hectares), within the northern Cebollas target area of the Baborigame district. With these agreements in place the Baborigame district claim block is essentially 100% controlled and covers all exploration targets identified in the project area. Drilling is anticipated to commence in February.

Alamos Gold Inc. announced today that it has reviewed the Director”s Circular issued by Aurizon Mines Ltd. on January 23, 2013 in response to the offer by Alamos to purchase all of the outstanding common shares of Aurizon.

Silver Bull Resources, Inc. is pleased to announce the drill results for the second of five batches 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.

Fortuna Silver Mines Inc. is pleased to announce that Compania Minera Cuzcatlan S.A. de C.V. (wholly owned subsidiary of Fortuna Silver Mines Inc.) and Plata Pan American S.A. de C.V. (wholly owned subsidiary of Pan American Silver Corp.) have entered into an acquisition and option agreement for the 6,254 hectare Taviche Oeste Concessions immediately surrounding the San Jose Mine in Oaxaca, Mexico. Cuzcatlan will purchase a 55% undivided interest in the Taviche Oeste Concessions for a cash payment of US$4.0 million. Once a production decision is made to develop ore from the Taviche Oeste Concessions, Cuzcatlan will purchase the remaining 45% undivided interest in the property for US$6.0 million. Plata Pan American will retain a 2.5% net smelter royalty on ore production from this property. The transaction is expected to close January 30th 2013.

Aurcana Corporation is pleased to report the results of the La Negra Mine 2012 underground drill program for drill holes that were not associated with the 43-101 Resource Estimate Report released on October 11, 2012.