Category: Exploration and Development

Cayden Resources Inc. is pleased to announce that it has now received over 1,200 assays from its La Magnetita and La Joya soil program (see website for map) which indicate an extensive gold anomalous area that is up to 5 km in an EW direction by 2 km in a NS direction. the soil anomaly strongly suggests that the La Magnetita and La Joya targets are part of the same very large hydrothermal system. Cayden is currently planning a drill program in the western portion of the La Magnetita anomaly where the most extensive surface work has been completed. There are presently over 2,000 meters of trench samples in the assay lab and the Company is creating a detailed geologic map from outcrop and trench exposures that it will use to refine drill targets. The Company anticipates drilling a minimum of 6,000 meters by reverse circulation once all the trench assays have been received.

Goldgroup Mining Inc. announces that the technical report on the updated mineral resource estimate on the Cerro Colorado gold mine titled “NI 43-101 Technical Report, Cerro Colorado Gold Mine, Sonora, Mexico” effective February 29, 2012 and dated May 14, 2012, has been filed on the Company’s website and on SEDAR in compliance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects requirements.

Arco Resources Corp. is pleased to announce that Micon International Ltd. has completed an independent technical report under National Instrument 43-101 that includes a mineral resource estimate on the Company’s 100%-owned Taviche property located near Oaxaca City, Mexico. The Inferred Mineral Resource estimate is 160,000 tonnes grading 197.8 g/t Silver (Ag) and 0.85 g/t Gold (Au), at a 100 g/t Silver Equivalent (AgEq) cut-off. This equates to 1,017,000 ounces of silver and 4,400 ounces of gold at a 100 g/t AgEq cut-off. This is the first mineral resource estimate ever on the Taviche Property. The report has now been filed on SEDAR and recommends a two-phase property-wide exploration program with a budget of $556,000.

Aurion Resources Ltd. reports that its partner AuRico Gold Inc has terminated the option and joint venture agreement on Aurion’s wholly owned La Bandera gold project in Durango, Mexico.

Westminster Resources Ltd. has recently completed an extensive program of geological mapping, prospecting and soil and rock geochemical sampling at the Cumbral-San Bartolo property located near Obregon, Sonora, Mexico. The original Cumbral exploration program conducted by Westminster in 2011 included an airborne VTEM/MAG geophysical survey with grid-controlled ground follow-up 2D-IP and MAG geophysical surveys over selective anomalies. These surveys identified a series of coincident IP chargeability-resistivity and magnetic patterns which were further defined with anomalous copper and silver trends from the 2012 soil geochemical sampling program.

California Gold Corp. has elected to conduct a more detailed geophysics analytical program at its AuroTellurio project near Moctezuma in Sonora, Mexico, before commencing its previously announced drilling program at the project this month.

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.