Category: Exploration and Development

AuRico Gold Inc. is pleased to announce that it has entered into a definitive agreement pursuant to which Minera Frisco, S.A.B. de C.V. will acquire the Ocampo mine and the adjacent exploration projects “Venus” and “Los Jarros” all located in Chihuahua State, Mexico and a 50% interest in the Orion advanced development project located in Nayarit State, Mexico from AuRico Gold, for a total cash consideration of $750 million. Minera Frisco is a leading Mexican mining company that was spun out of Grupo Carso S.A. de C.V. in November 2010 and is listed on the Mexican Stock Exchange with a current market capitalization of approximately $10.7 billion. The transaction is expected to close in December 2012.

Mammoth Resources Corp. is pleased to report results from the first phase of its field exploration program at the 28,970 hectare Urique Property, located in Chihuahua State, Mexico. The project is surrounded on three sides by Goldcorp’s El Sauzal gold mine to the south, Kimber Resources’ Monterde property to the north and Paramount Gold and Silver’s San Miguel project to the west (refer to Figure 1. Location of Mammoth Resources – Yale Resources Urique Joint Venture, Chihuahua State, Mexico http://media3.marketwire.com/docs/mth109fig1.pdf). Work is being supervised by Mammoth Vice President Exploration, Richard Simpson, P. Geo, and is being carried out by Yale Resources geologists. Mammoth is optioning the Urique Project from Yale Resources.

Scorpio Mining Corporation is pleased to report additional results from the recently completed drill program at its 100% owned El Cajón Project near Cosalá, Sinaloa, Mexico.

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

Endeavour Silver Corp. announces that an illegal work stoppage is now underway that is currently blocking Company management and subsidiaries personnel from accessing certain facilities held under lease near the El Cubo mine located in the state of Guanajuato, Mexico. To date, the blockade has been relatively peaceful.

Santacruz Silver Mining Ltd. is pleased to announce that its subsidiary, Impulsora Minera Santacruz S.A. de C.V. has been successful in negotiating improved payment terms with Minera Hochschild Mexico S.A. de C.V. allowing Impulsora to extend out payments to acquire a 100% interest in the San Felipe project located near Hermosillo, Sonora, Mexico.

Mundoro Capital Inc. is pleased to provide an update on its exploration activity in Mexico. The Company is currently conducting exploration on three of its exploration concessions: Camargo, Centauro, and Cuencame.

Orex Minerals Inc. in conjunction with their project partner Fresnillo PLC have added a second diamond drilling rig to the ongoing Phase-II 12,000 metre diamond drilling program on their Coneto Silver-Gold Project in Durango, Mexico. Kluane Drilling Ltd. is the service provider for Phase-II drilling at Coneto.

Source Gold Corp. is pleased to announce it has entered into final negotiations to acquire a privately held mineral lease holding Company.

Canasil Resources Inc. announces that MAG Silver Corp. has mobilized crews to prepare for the start of the Phase 2 drill program in early October 2012 at Canasil’s La Esperanza silver-zinc-lead project in Durango and Zacatecas States, Mexico. Plans include up to 3,500 metres of diamond drilling to test three silver-lead-zinc veins in the northwest of the project area. This drill program will be part of the CAD$1,500,000 exploration expenditures required between September 2012 and September 2013 under the option agreement for MAG to earn a 60% interest in the La Esperanza project.