Tag: Exploration and Development

* Esperanza will acquire a portfolio of advanced stage gold projects including the La Bolsa project in Mexico, the Pico Machay project in Peru, the Calcatreu project in Argentina and related exploration properties from Pan American for consideration of 50,900,000 common shares and 10,000,000 warrants of Esperanza;

* Pan American will subscribe for 20,600,000 Common Shares of Esperanza at a price of $1.70 per Common Share representing a premium of 29% to the 20-day volume weighted average share price on the TSX Venture Exchange and a 48% premium to the closing price on February 22, 2013; and

* Esperanza and Pan American have committed to enter into a $15,000,000 standby convertible credit facility.

Animas Resources Ltd. has signed a letter of intent with Dore King Min SA de CV, a private Mexican gold mining company, which will work towards permitting, development, construction, and restarting gold production at the Santa Gertrudis Gold Project.

Oroco Resource Corp. is pleased to announce that the Seventh District Judge (Federal) of the State of Guerrero has held the constitutional hearing in the two amparo petitions related to the registration of the Celia Gene and Celia Generosa concessions (see the Company’s news release dated October 22, 2012 and its most recent MD&A). With this phase of the proceedings completed, the court is now in a position to make its decision on the amparos.

* Definitive agreement on KM66 property executed
* Geological work to commence at KM66 next week
* Mr. John LaGourgue appointed as Chief Executive Officer

Lake Shore Gold is selling all of its Mexican properties to Revolution Resources so that it can keep its management team and finances focused on its Canadian assets.

Mexico’s new government is considering relaunching an abandoned rescue effort to reach the bodies of 63 miners in a coal mine in northern Mexico since 2006, one of the worst mining disasters in the country’s history.

Almaden Minerals Ltd. announces that it has commenced a diamond drill program on its 100% owned El Cobre porphyry copper-gold project in Veracruz State, Mexico. Drilling has been planned to test various geophysical and geochemical anomalies within this extensive porphyry copper-gold system. The drill program consists of one drill capable of drilling to >1,000 meters depth. An initial 5,000 meters is planned, comprised of 5 to 8 >500 meter deep holes.

GoGold Resources Inc. is pleased to announce the completion of a Pre-Feasibility Study on its Parral Tailings project in Chihuahua State, Mexico which defines a reserve of 35 million Silver Equivalent Ounces and a pre-tax internal rate of return of 80%. The study projects an initial capital cost of $35 million and a life of mine of 12 years with an average annual production of 1.8 million Silver Equivalent Ounces* (1.2 million ounces of silver and 11,000 ounces of gold). The mine production is planned at 5,000 tonnes per day on a conventional heap leach with a sustaining capital of $27.5 million over LOM. The Pre-Feasibility Study on the Parral Tailings Project in Chihuahua, Mexico was prepared by The MDM Group of South Africa, in accordance with the requirements of Canadian National Instrument 43-101 “Standards of Disclosure for Mineral Projects”.

Sonora Resources Corp., a mineral exploration and development company focused on the acquisition and exploration of international silver and gold mining properties, is pleased to announce that on February 15, 2013, the Company entered into an Asset Purchase Agreement with Yale Resources Ltd. to purchase all of the right, title and interest in and to the Los Amoles 2 and Los Amoles 3 Fracc.1 properties, consisting of 2,166 hectares located in the State of Sonora Mexico. Yale will use all commercially reasonable efforts to acquire title to the Los Amoles 4 property which is approximately an additional 2,200 hectares adjoining the Los Amoles 3 property. The Company has agreed to purchase the Property from Yale by issuing 1,000,000 of restricted SURE common shares and making cash payments totaling US$200,000.

Representantes de sindicatos canadienses documentan la presunta violación a los derechos humanos de los trabajadores mineros de la Sección 309 del Sindicato Nacional de Trabajadores Mineros, Metalúrgicos, Siderúrgicos y Similares de la República Mexicana (SNTMMSSRM) y ejidatarios y ejidatarias de La Sierrita de que son objeto por parte de la empresa minera canadiense Excellon Resources Inc.