Westridge Resources Inc. is pleased to announce it plans a further diamond drilling program on its Charay project, located near the seaside city of Los Mochis, Sinaloa Mexico, in the first quarter of 2012 as a result of the December 23rd closing of the first tranche of the previously announced financing (gross proceeds of $1,001,369).
El Tigre Silver Corp. is pleased to announce that it has closed the first tranche of its previously announced non-brokered private placement of 2,936,000 units of the Company for aggregate gross proceeds of $734,000. Each Unit consists of common share of the Company and one-half of a common share purchase warrant. Each whole Warrant entitles the holder to acquire an additional common share of the Company for a period of 2 years from the date of issue at a price of $0.40 per share.
Silver Scott Mines, Inc. (OTC: SILS.pk) is pleased to announce the execution of a stock based 4 year earn in agreement for exploration covering more than 14,000 hectares in Baja California Sur. These two main concessions are located near the recently discovered gold deposit, Los Planes, by Pediment Gold Corp. in 2007 containing 1.66 million ounces of gold and the Concordia gold deposit with 2.28 million ounces of gold. Agreement allows the company to investigate high potential targets within these two mineralization trends, one of known gold deposits and the second trend having silver-gold deposits.
HALIFAX, Dec. 23, 2011 /CNW/ – (CNW – December 23, 2011) – Terry Coughlan, President and CEO of GoGold Resources Inc. (“GoGold”), is pleased to announce that GoGold has closed its previously announced non-brokered private placement financing of $4,500,000. The private placement comprised the sale of 3,600,000 common shares at a price of $1.25 per share (the “Private Placement”) The common shares issued in this Private Placement are subject to a 4 month hold period which ends on April 24, 2012.
Citation Resources Inc. is pleased to announce that it has today entered into an option agreement with Esperanza Resources Corp. to acquire 100% of Esperanza’s Biricu Prospect mineral exploration concession located in Guerrero State, Mexico. The Biricu concessions comprise more than 41,000 hectares of highly prospectable ground and are the direct on-strike extension of five skarn deposits in the Guerrero Gold Belt (El Limon-Los Guajes – Torex Gold Resources Inc.; Bermejal, Los Filos, and Nukay – Goldcorp Inc.; Ana Paula – Newstrike Capital Inc.). To date, very limited exploration activity has been conducted on the concessions.
New Gold Inc. and Silver Quest Resources Ltd. today announce that New Gold has completed the acquisition of all the shares of Silver Quest. Under the terms of the court approved arrangement, 10.5 million New Gold common shares were issued to former Silver Quest securityholders on the basis of 0.09 of a New Gold share for each Silver Quest share and nominal cash consideration.
In calendar year 2011 Yale generated modest revenue of approximately $193,000 as a result of cash payments and management fees from optionees, sale of shares in optionees, oil and gas revenue, and consulting for third party companies. In addition, current free trading, saleable, shares amount to approximately $227,000 as of Dec. 22.
G4G Resources Ltd. pursuant to the announcement of the joint venture agreement with Almaden Minerals Ltd. on June 21, 2011, whereby G4G could acquire a 70% interest in Almaden’s 100% owned Yago gold-silver project located in Nayarit State, Mexico, announces that Almaden and G4G have mutually agreed to cancel this agreement.
Silver Scott Mines, Inc. is pleased to announce the initiation of a 6000 meter RC drill program at the Quitovac gold mine project. The drilling began after the signing of a long term surface land agreement with the local controlling Quitovac community.
The Board of Directors of Fortunate Sun Mining Company Ltd. are pleased to announce that it has successfully completed its Initial Public Offering for gross proceeds of $1,500,000 under a prospectus dated October 18, 2011. Fortunate Sun issued 7.5 million units at a price of $0.20 per unit, with each unit comprised of one common share and one-half of a warrant, with each whole warrant exercisable into a common share for 18 months at $0.30 per common share. Haywood Securities Inc. (“Haywood”) acted as agent for the offering. Haywood received a cash commission of 10% of the gross proceeds of the offering, a corporate finance fee of $20,000 and Fortunate Sun granted agent’s options to Haywood and sub-agents to purchase up to an aggregate of 750,000 agent’s units at a price of $0.20 per agent’s unit exercisable for a period of 24 months.
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