Category: Exploration and Development

Sierra Madre Developments Inc. and its partner Riverside Resources Inc. have announced drill results including 20.9 meters of 1.01 g/t gold from the first two drill holes completed as part of the 2012 drill program at the El Capitan Target (a bulk tonnage oxide gold deposit), which forms part of the Company’s Penoles Project in Durango, Mexico. Drilling in 2011 tested approximately 60% of the strike extent of the zone and the objective of the current drill program (funded by Sierra Madre) is to test the down dip extent, possible extensions to the west and provide sufficient drill hole density for an initial resource calculation for El Capitan.

Highvista Gold Inc. is pleased to report that it has commenced its 2012 drill program at its Canasta Dorada Gold Project, located within the Sonoran Gold Belt, in Sonora State, Mexico. This phase of drilling will include up to thirty-two reverse circulation drill holes totaling 4,500 meters.

A $2.03 billion judgment in a lawsuit brought by shareholders of Southern Copper Corp should be overturned because a key witness from deal adviser Goldman Sachs Group Inc was excluded from the trial, lawyers challenging the ruling argued in Delaware’s Supreme Court on Thursday.

El Tigre Silver Corp. is pleased to provide an update report along with assays from the next three holes from the ongoing Gold Hill core drilling program at its 100% owned El Tigre silver project in Sonora, Mexico.

Bearing Resources Ltd. announces results from its 1,172 metre (7 hole) diamond drill program at the Parrandera gold-copper property located in the Mapimi region of Durango, Mexico. The Parrandera property was the initial and smallest property optioned when establishing the Mapimi project (40,000 hectares). The drill program was highlighted by drill hole PA12-01 which returned 12.95 metres grading 0.858 grams per tonne (g/t) gold beginning at a down hole depth of 16.3 metres. While the drill program identified gold and copper mineralization over narrow intercepts, the results did not meet Bearing’s exploration target criteria therefore the Parrandera property will be returned to the property vendors.

International Northair Mines Ltd. is pleased to announce that Focus Ventures Ltd. has reported to Northair that an exploration program has commenced at the Company’s El Reventon Property located in the State of Durango, Mexico.

NWM Mining Corporation is pleased to report exploration drill results from its wholly owned Lluvia-Jojoba gold mining project in northern Sonora, Mexico. Twenty new percussion drill holes (for 612 meters) have intersected gold mineralization on the east flank of the Gold Ridge geochemical anomaly, 900 meters west of the main mining area at the Lluvia deposit Creston Pit. These drill holes expand the lateral distribution of gold mineralization identified from percussion holes previously drilled into this structure, and define three targets for follow-up. The new drill holes, drilled to 30.6 meters depth, returned weighted average gold grades up to 0.411 g Au/tonne, and higher grade intervals up to 0.626 g Au/tonne over intervals of 15.2 meters. Individual assays up to 2.38 g/t Au were also encountered (Average gold grades for existing reserves at Lluvia de Oro are 0.50 g/t with a cut-off gold grade of 0.20 g/t). Highlights of the Gold Ridge drill results are set forth in the table below.

Urastar Gold Corp. is pleased to provide an update on drilling results at the El Antimonio property located in Sonora State, Mexico.

Focus Ventures Ltd. is pleased to announce that it has commenced exploration at its recently acquired 4,430 hectare El Reventon property, Durango, Mexico.

Cayden Resources Inc. is pleased to announce that it has mobilized a reverse circulation drill rig and commenced drilling at its La Magnetita target on its 100% owned Morelos Sur Gold Project in Guerrero State, Mexico. The drill program will test the depth extensions of 24-58 meter long + 0.5 g/t Au trench intercepts (see previous NR’s dated March 5, 2012 and May 31, 2012). The area from which trench results have been received covers approximately 20% of the initial 5 km long, strong gold in soil anomaly (see NR dated May 16, 2012). Cayden has several assays in the lab from new trenches, which will likely provide additional targets in the near future.