Day: October 17, 2011

Alamos Gold Inc. is pleased to announce that Mr. Han Ilhan will join the Company as Vice President of Projects effective October 17, 2011. Mr. Ilhan has extensive experience providing engineering and environmental solutions to mining projects worldwide. As Vice President of Projects, Han will be based in Ankara, Turkey and will oversee development of the Company’s Turkish projects, as well as future development projects.

Grupo Mexico ordered to pay for its role in Minerva deal

VANNew Gold Inc. and Silver Quest Resources Ltd. today jointly announce a binding letter agreement whereby New Gold will acquire, through a plan of arrangement, all of the outstanding common shares of Silver Quest. Under the terms of the Arrangement, Silver Quest shareholders will receive 0.09 of a New Gold share for each Silver Quest share held and one common share in a new Yukon-focused precious metals exploration company, McIntyre Minerals Inc. for every three Silver Quest shares held. The offer values Silver Quest at $1.32 per share, representing a 52% premium based on the combination of:

Goldgroup Mining Inc. is pleased to announce that, further to its news release of September 26, 2011, Goldgroup has completed the acquisition of the remaining 30% interest in the Caballo Blanco project held by Almaden Minerals Ltd. Goldgroup now owns 100% of the Caballo Blanco project.

On 12 October, Mexican precious metals miner Fresnillo PLC, the world’s largest primary silver producer, trimmed its full-year guidance for silver production by 3 million to 41 million ounces. The revised outlook followed by a 5.80% fall in its silver production in the third quarter as the company reinforced safety conditions at all of its projects following the death of two contractors in July. The company added that it is expecting to resume with the normal operations at the Fresnillo mine by the end of October. However, the company upped its gold production target to 430,000 ounces for the year 2011, from previously estimated 400,000 ounces.