Category: Exploration and Development

Santacruz Silver Mining Ltd. is pleased to report significant progress at its Rosario project, located in the historical mining district of Charcas, San Luis Potosi, Mexico. In August 2011 the Company signed an option agreement with Compania Minera Nukay, S.A. de C.V. a subsidiary of Goldcorp Inc. to purchase a mill with a capability of 500 tonnes per day. The mill, which is currently being disassembled will be moved to the property within the third quarter of 2012. The mill is scheduled to be commissioned within the first quarter of 2013. Utility permits for water and power are expected to be ready during the third quarter of 2012.

Minaurum Gold Inc. is pleased to announce the beginning of a minimum 2,500-metre diamond-drilling program on its 5,800-ha Corazonada silver-zinc skarn project in Morelos State, Mexico. The Corazonada project is an intrusion-centered skarn system hosted by carbonate rocks identical to those of the numerous gold deposits of the 15 Moz Guerrero Gold Belt as well as Esperanza Resources’s nearby 1 Moz Cerro Jumil Gold deposit. Drilling at Corazonada will both test a prominent aeromagnetic anomaly in the southwest portion of the project and follow up on strong silver and zinc values from surface rock-chip sampling.

McEwen Mining Inc. is pleased to provide an exploration update for its El Gallo Complex in Sinaloa State, Mexico. Recent exploration drilling has focused on two targets. The first is a new gold vein that returned multiple intersections of high-grade gold over narrow intersections, including 27.5 gpt gold over 2.1 meters. The second target is located inside of the Phase 1 area, which is permitted for mining and scheduled to begin production during the second half of 2012, where wide intersections of low-grade gold mineralization have been encountered including 0.45 gpt gold over 77.6 meters.

Comstock Metals Ltd is pleased to announce the assay results received from core hole CO-12-71, the first hole ever drilled to test the Esperanza Showing at the Corona Project in the Uruachic-Ocampo District of western Chihuahua, Mexico.

Oroco Resource Corp. is pleased to report additional results from the 2011 and 2012 exploration and infill drill program at its Cerro Prieto Project in northern Sonora State, Mexico.

Lone Star Gold, Inc. is pleased to provide an update on the Company’s Tailings Project wash plant in terms of operation, ongoing development and further concentrate testing results. Lone Star has an undivided 65% interest in the Tailings Project, which represents 1.2 million tons of mine tailings.

Southridge Enterprises Inc. is pleased to announce that the Company has signed a Letter of Intent with San Dimas Mineria S.A. to acquire a 100% interest in the El Horconcito Gold Mine, in the state of Durango, Mexico. El Horconcito is located in the San Dimas mining municipality of Durango, close to the Sinaloa border.

Dia Bras Exploration Inc. is pleased to report that continued surface and underground drilling at its Promontorio mine (figure 1:Cusi Project Map View) has expanded the Promontorio disseminated silver deposit and the El Gallo veins while development work on Level 9 of Promontorio mine has encountered good grades of silver in the disseminated zone. Additionally, drilling at Santa Eduwiges has cut several new zones of high grade silver mineralization.

Avino Silver & Gold Mines Ltd. is pleased to provide the following update on the progress made at its San Gonzalo Mine located 82 KM NE of Durango, Mexico.

A Mexican mining company is seeking a multi-million dollar judgment against Coeur d’Alene Mines Corporation as compensation for the Idaho company’s alleged breach of contract, according to a lawsuit filed in a Mexican court.