Category: Exploration and Development

Paramount Gold and Silver Corp. today released results from an updated NI 43-101- compliant resource estimate for its 100%-owned San Miguel Project in Mexico. The updated estimate was prepared by Mine Development Associates (MDA, www.mda.com) of Reno, Nevada and includes data from 139 new core drill holes totaling 37,925 meters completed during 2011 and the first half of 2012. Previous resource estimates used in this press release for comparison purposes were also prepared by MDA.

Torex Gold Resources Inc. is pleased to report that drilling results continue to expand the gold-copper-silver mineralization at its Media Luna discovery located south of the Balsas River, on the Morelos Project in Mexico. In addition, work is continuing on several other high potential targets south of the Balsas River.

International Northair Mines Ltd. is pleased to announce assay results from 6 core holes completed in the Las Carolinas Zone at its La Cigarra silver project, located in north central Mexico.

First Mexican Gold Corp. would like to announce that additional drilling has been completed at its Guadalupe property in Sonora State Mexico.

Canasil Resources Inc. announces that MAG Silver Corp. has received the drill permit for the planned Phase 2 drill program at Canasil’s La Esperanza silver-zinc-lead project in Durango and Zacatecas States, Mexico. MAG has also completed the required CAD$150,000 option payment to Canasil for the third year of the option agreement and will now be required to spend an additional CAD$1,500,000 in exploration expenditures from September 1, 2012, to September 1, 2013, in order to maintain the agreement in good standing. A final option payment of CAD$200,000 will be required on September 1, 2013, together with additional exploration expenditures of CAD$1,750,000 by September 1, 2014, should MAG decide to continue and complete the earn-in of a 60% interest in the project under the agreement. MAG reported that drilling is expected to resume at La Esperanza during the third quarter 2012 to test the Fatima, San Pascual and Los Alamitos veins in the north-western part of the project area.

The Canada-based silver and gold exploration and development company has targeted near-term production (within one year)as part of its ongoing development plan to develop the sizeable and historically proven gold and silver potential held in its 431 square kilometer silver and gold project in Sonora, Mexico.

Aura Minerals Inc. announces that, in accordance with National Instrument 43-101 and in support of the Company’s July 18, 2012 news release, it has filed a technical report entitled “Preliminary Economic Assessment of the Expansion of the Aranzazu Mine Zacatecas Mexico” prepared by AMC Mining Consultants (Canada) Ltd. The PEA is available under the Company’s profile on SEDAR at www.sedar.com and on the Company’s website at www.auraminerals.com.

Excellon Resources Inc. is pleased to announce that it has regained access to its La Platosa Mine in the state of Durango, Mexico. La Platosa has been under an illegal blockade commenced by the Ejido La Sierrita with the assistance and funding of the non-governmental organization ProDESC and the Sindicato Nacional de Trabajadores Mineros Metalúrgicos, Siderúrgicos y Similares de la República Mexicana, affiliated with the United Steelworkers Union.

Geologix Explorations, a mineral exploration firm, has reported that it has begun an exploration drilling program at the Tepal project located in Mexico.

Mexican police, soldiers and some miners breached a picket line at a silver mine owned by Canada’s Excellon Resources Inc on Wednesday, but striking miners vowed to continue their near two-month stoppage.