VANCOUVER, BRITISH COLUMBIA, Mar 13, 2012 (MARKETWIRE via COMTEX) — Citation Resources Inc. is pleased to announce the appointment of Dr. Paul J. Bartos to the Citation Board of Directors. Dr. Bartos, currently Vice President and Chief Geologist of Esperanza Resources Corp., was responsible for securing the Biricu concessions for Esperanza and is a noted authority on epithermal deposits.
GREAT PANTHER SILVER LIMITED announces the financial results for the year ended December 31, 2011. Great Panther is pleased to report revenues for the year ended December 31, 2011 of $57.8 million, representing a 37% increase over 2010. The Company’s gross profit or earnings from mining operations increased by 64% to $26.9 million for 2011, and net earnings increased 8% to $11.5 million. The Company also increased working capital to $53.8 million at December 31, 2011, from $18.8 million at the end of the prior year.
Stroud Resources Ltd. is pleased to announce the latest results from its drill program at the Santo Domingo project in central Mexico. The three drill holes were drilled on section 5829 North, below DDH-42 (see December 1, 2011 press release) and above DDH-11. These holes trace the mineralization 175 metres down dip.
Paramount Gold and Silver Corp. today reported more outstanding assay results which significantly expand the size of its new high-grade gold discovery south of the La Union zone as announced last month. Core hole LU-12-035 intersected 23.8 meters grading 4.7 g/T of gold and 6.8 g/T of silver. Hole LU-12-035 lies 80 meters south of discovery core hole LU-12-027 which intersected 79 meters grading 3.70 g/T of gold and 17.34 g/T of silver (see news release of February 16, 2012).
McEwen Mining Inc. is pleased to announce new exploration drill results from its El Gallo Complex in Sinaloa State, Mexico. Highlights include a new discovery called CSX, which returned an impressive 629.4 gpt silver over 6.1 meters and from Palmarito, which returned 240.7 gpt silver over 8.6 meters. Mineralization in both areas starts from surface. In addition, reconnaissance work inNayarit State, which is located south of Sinaloa, has discovered an exciting silver prospect, which is showing good potential for size and grade (Exhibit 1 & 4).
HALF-YEAR FINANCIAL REPORT – 31 DECEMBER 2011
Southern Silver Exploration Corp. reported today that it plans to issue up to 16,700,000 units in a non-brokered private placement at a price of $0.12 per unit to raise $2,004,000. Each unit will consist of one common share and one share purchase warrant, with each warrant exercisable to purchase one additional common share for a period of three years at an exercise price of $0.17 per share.
Sierra Madre Developments Inc. is pleased to announce the closing of the non-brokered private placement financing led by Burgeonvest-Bick Securities Ltd. previously announced by news release on February 15, 2012. Pursuant to the Offering, the Company raised $2,276,250 through the sale of 30,350,000 units at a price of C$0.075 per Unit. Each Unit consists of one common share in the capital of the Company and one-half of one transferable common share purchase warrant. Each Warrant entitles the holder to acquire one additional Share at a price of C$0.10 per Share for a period of 12 months expiring March 9, 2013.
Second quarter production for San Martin Mine results in 6,068 equivalent gold ounces
Bearing Resources Ltd. is pleased to announce the Company has executed a binding letter of intent to acquire a 100% interest in the 13,400 hectare Kilometer 66 (“Km 66”, also known as Mapimi) silver-gold-lead-zinc property located immediately adjacent the Company’s 26,474 hectare Parrandera property in Durango, Mexico.
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