Vancouver, February 17, 2012 – Canasil Resources Inc. (Canasil, TSX-V: CLZ) announces that the previously announced non-brokered private placement of 3,000,000 units at $0.225 for a total of $675,000 is fully subscribed and the Company is processing documentation for immediate closing of the placement.
A federal agency created by the Conservative government to mediate complaints about Canadian mining operations abroad has spent more than $1.1 million in the past two years, but has yet to mediate anything.
Oro Mining Ltd. (“Oro Mining” or the “Company”) (TSX VENTURE:OGR) is pleased to announce that it has closed its private placement financing previously announced on February 2, 2012 and February 15, 2012 (the “Private Placement”). The Company issued 71,837,000 units for aggregate gross proceeds of $7,902,070. Each unit, priced at $0.11, consists of one common share and one-half of one non-transferable common share purchase warrant; each whole warrant entitles the holder to purchase one additional common share of the Company at an exercise price of $0.20 until February 17, 2014.
The Company issued a total of 4,774,000 units at a price of $0.075 per unit (“Units”) for total proceeds of $358,050. Each Unit is comprised of one common share of the Company and one-half of one non-transferable common share purchase warrant. Each whole purchase warrant will entitle the holder to acquire one additional common share of the Company at a price of $0.10 per share until February 17, 2013.
Orko Silver Corp. (CVE:OK) provided Thursday an update on activities at its La Preciosa silver-gold deposit in the State of Durango, Mexico, with the company expected to deliver a new preliminary economic assessment (PEA) by the middle of this year.
Goldgroup Mining Inc. (GGA.TO) this week released its updated National Instrument 43-101 compliant mineral resource estimate for its flagship Caballo Blanco gold project in Veracruz, Mexico.
Citation Resources Inc. is pleased to announce that it has now commenced an initial reconnaissance exploration program and deployed a geological field crew on the Biricu Property situated in the Guerrero Gold Belt in Morelos State, Mexico.
Southridge Enterprises Inc. announced that it will conduct additional rock sampling of the ore stockpiles at Cinco Minas to confirm the grades and tonnage cited in the 2007 Behre Dolbear Report, as part of the recently announced exploration program.
DynaResource, Inc., a Resource Investment and Management Company based in Irving, Texas, with a current focus on the San Jose de Gracia Project in Sinaloa, Mexico, targeting growth in the defining and production of gold and silver resources, is pleased to announce that it has engaged Gale Capital Corporation to perform investor relations related services for the Company. Mark van der Horst, President of Gale Capital, will assist DynaResource with corporate communications, PR and investor and shareholder outreach.
Cream Minerals Ltd. is pleased to provide results for seven exploration drill holes completed on Cafetal-Veta Olvidada, The Cafetal-Veta Olvidada zone is located to the east of Once Bocas South and trends SE/NW. This new zone is not included in the current NI 43-101 Inferred Mineral Resource.
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