Category: Exploration and Development

Kimber Resources Inc. is pleased to announce the results from two drill holes designed to test for new structures in the “Carmen East” area on its 100%-owned Monterde property. Drill hole MTC-163 intercepted multiple mineralized structures, including two with high-grade gold-silver mineralization: one returning 4.3 g/t gold and 166.6 g/t silver over 2.1 metres and the other grading 3.2 g/t gold and 222.0 g/t silver over 1.5 metres.

International Northair Mines Ltd. is pleased to report that a core drill program has commenced at its Sierra Rosario silver/gold project located in Sinaloa State, Mexico.

American Consolidated Minerals Corp. is pleased to report that a core drill program has commenced at its Sierra Rosario Silver/Gold Property, located in Sinaloa State, Mexico.

Westridge Resources Inc. announces that the cumulative strike length of all mineralized vein structures on the Charay Property is now approximately 4,000 meters compared to 250 meters when the project was acquired. This has been accomplished through ongoing interpretation of the results of drilling, geological mapping, trenching and sampling, all of which continues to identify new epithermal veins.

Mr. Thomas Skimming, CEO of MacMillan Minerals Inc., is pleased to announce that the Company has commenced a diamond drilling program on the La Raizura Target at the Las Cucharas Gold and Silver Project. Mr. William Hamilton, P. Geo., Manager of Exploration, is a Qualified Person under the meaning of National Instrument 43-101 and is responsible for all technical information contained in this news release.

Excalibur Resources Ltd. is pleased to provide an update on the progress towards production in its 49% subsidiary, Minera Catanava S.A. de C.V. The land use environmental permit received in November 2011 allowed the construction and installation of the plant. The ball mill, jaw and cone crushers and ore bins were installed in December. The conveyors, belts and motors were delivered, installed and tested in January-March and all are operational. In April, 100 tons of dump material was loaded into the raw ore storage bin and 50 tons was crushed to 1/4 inch material into the fine ore hopper that is being batch tested on the three recently installed Action Mining Micron Wave tables. The material is being tested by increasing the size of the batches in order to optimize the flow, the grind and the gold recoveries. Various adjustments have been made including installing feeders for the wave tables and a holding tank.

Chesapeake Gold Corp. wishes to report on the current status of the pre-feasibility study of its 100% owned Metates project located in Durango State, Mexico. One of the largest undeveloped gold-silver projects in the Americas, Metates contains a NI43-101 measured and indicated resource of 1.18 billion tonnes at a grade of 0.50 g/t gold and 13.7 g/t silver containing 19.0 million ounces gold and 519 million ounces silver together with 4.2 billion pounds of zinc (see NR2-2012 dated February 16, 2012).

Mexico’s government says it will protect a half-million acres held sacred by the Huichol Indian tribe that inspired a protest movement against a Canadian company’s silver-mining concessions in the northern desert.

Precious metals producer Coeur d’Alene Mines said on Thursday production has restarted at its Palmarejo mine in Mexico, following a work stoppage that started at the weekend.

Arco Resources Corp. announces that it has closed the sale of the Lachiguiri and Silacayoapan properties to Argentum Silver Corp. in accordance with a settlement and purchase agreement dated May 9, 2012 (see Arco’s news release dated May 10, 2012).