Category: Exploration and Development

Golden Minerals Company is pleased to announce the sale of the Company’s 1% net smelter royalty interest in the Platosa property to Excellon Resources Inc. for US$2.4 million. The Platosa property, which is located north of Torreon, Mexico, is a silver, lead and zinc mine owned by Excellon. At current metal prices, the Company was realizing approximately $400,000 per year in royalty payments. Closing of the transaction is anticipated within thirty days with an effective date of June 1, 2012.

Minaurum Gold Inc. is pleased to report that Ocean Park Ventures Corp has released significant additional copper- silver intercepts from the third and fourth holes of their Phase 1 drilling program on Minaurum’s Adelita Project. (see Ocean Park news release dated May 31, 2012) Drill hole (CGDD12-012) cut 201.4 metres of 0.52% Copper from 27 to 228.4 metres downhole, including 69.3 m of 1.28% Copper; 0.36 g/t Gold and 32.6 g/t Silver.

Baja Mining Corp., which raised going concern doubts earlier this month, will cut 40 percent jobs at its headquarters in Vancouver as it does not expect additional funding for its copper-cobalt-zinc project in Mexico by mid-June.

Hole LP1008 drilled at Rincon del Caido near previously disclosed hole LP986 and testing the same stratigraphy has encountered two mineralized zones separated by 100 metres within the same marble unit. The upper zone assayed 332 g/t (9.7 oz/T) Ag, 11.40% Pb, 9.74% Zn over 1.91 m. A narrow felsic dyke, another indication of a Source environment was found between the two intersections;

Tara Minerals Corp. is pleased to announce that its subsidiary, Adit Resources Corp., has entered into an agreement for the sale of American Copper Mining S.A. de C.V., the holder of Adit’s Picacho group of concessions, to Yamana Mexico Holdings B.V., a subsidiary of Yamana Gold Inc.

Scorpio Mining Corporation is pleased to report initial results from the recently completed drill program at its 100% owned El Cajón Project near Cosalá, Sinaloa, Mexico.

Victory Resources Corp. is pleased to announce that it has completed the 1st stage drill program on the Matanza tailings pond located at the Reforma mine.

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.