The management of Arianne Resources Inc. is pleased to announce the appointment of Mr. Pierre Lortie as Director of the Company and Chairman of the Board. In this new role, Mr. Lortie will assist for the strategic directions of the Company.
Starcore International Mines Ltd. is pleased to announce that Dr. Michael Gunning has been appointed a director of the Company. Already serving as a member of Starcore’s Technical Advisory Board since April, 2012 (see press release of April 18, 2012), Dr. Gunning has been working with the Company and the other members of the technical team in reviewing and evaluating the exploration and development work at Starcore’s San Martin gold mine in Queretaro, Mexico.
Scorpio Gold Corporation is pleased to provide Company shareholders with an update on the following activities:
Fresnillo plc today announced that it has acquired 2,000,000 units of Orex Minerals Inc. pursuant to a non-brokered private placement at a purchase price of C$0.50 per Unit for a total of C$1,000,000. Each Unit consists of one common share of Orex and one half of a share purchase warrant of Orex with each whole share purchase warrant exercisable for one Share at a price of C$0.75 per Share.
Selwyn Resources Ltd. is pleased to announce that Jay A. Collins and Mark A. Lettes have been appointed to the Board of Directors of Selwyn. Harlan Meade said, “I am pleased to welcome Jay and Mark to the Selwyn Board and look forward to working with them. Their experience in the mining industry and project financing will provide valuable insight as the Company advances its core mine development projects.”
Mexus Gold US is a company engaged in the evaluation, acquisition, exploration, development and production of mining properties and conducts salvage operations for the recovery of precious metals.
Riverside Resources Inc. reports agreed upon amendments to the Option Agreement between the Company and Sierra Madre on the Penoles Property in Durango State, Mexico. The amended Option Agreement is subject to TSX Venture Exchange approval.
VVC Exploration Corporation is pleased to announce that it has completed a financing aggregating $387,500 representing 7,751,620 units at a price of $0.05 per Unit. Each Unit consists of one common share and one common share purchase warrant of the Company. Each Warrant entitles the holder to purchase one additional common share of the Company at $0.12 per share until August 31, 2013 and thereafter at $0.18 per share until August 31, 2014.
NWM Mining Corporation announces an extension of the debt facility coming due in December 2012 to June 14, 2013. US $500,000 of interest payable in September and October will be capitalized in the form of a convertible debenture with a strike price of $0.06 due September 20, 2013. This convertible bears interest at a rate of 15% and is not subject to amortization repayments. A cash payment of $150,000 is payable and 10,500,000 common shares of NWM will be issued on closing.
Chesapeake Gold Corp. reports on the current status of the pre-feasibility study on its 100% owned Metates project located in Durango State, Mexico. The Metates project contains a NI 43-101 measured and indicated resource of 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) making it one of the largest undeveloped gold-silver projects in the Americas.
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