Vancouver, December 16, 2011– Fortuna Silver Mines Inc. (NYSE: FSM | TSX: FVI | BVL: FVI) is pleased to announce that it has been added to the S&P/TSX Composite, effective at the market open on Monday, December 19, 2011. The Company joins Canada’s other leading silver producers on the 255-company index, which represents the largest businesses on the Toronto Stock Exchange.
San Marco Resources Inc. announces that it has arranged a non-brokered private placement of 5,000,000 units at $0.10 per unit for gross proceeds of $500,000.
War Eagle Mining Company Inc. is pleased to report that its shareholders approved all of the resolutions proposed at War Eagle’s annual general and special meeting of shareholders held on December 8, 2011. In particular, shareholders approved the planned reverse takeover of the Company by Andromeda Resources Inc. as fully described in the Company’s information circulation dated November 9, 2011.
Chesapeake Gold Corp. is pleased to provide an update to various activities and related developments on its 100% owned Metates gold-silver project located in Durango State, Mexico. Metates hosts one of the largest known undeveloped gold and silver deposits containing 17.2 million ounces gold, 466 million ounces silver and 3.4 billion pounds zinc (Measured + Indicated) and 2.6 million ounces gold, 62 million ounces silver and 360 million pounds zinc (Inferred). The April 2011 updated Preliminary Economic Assessment (“PEA”) reported that the Metates project would produce an average of 759,000 ounces gold and 20.0 million ounces silver annually over a 19 year mine life with strong project economics.
Sonora Resources Corp., a mineral exploration and development Company focused on the acquisition of international silver and gold mining properties, is pleased to advise that a program of measuring and sampling of the extensive historic surface dumps at the Ayones Project was undertaken November 8-13, 2011.
WestStar Resources Corp. has received the first batch of assays for a rock sampling program recently completed on its La Paloma property. The Property is located approximately 70 kilometers west of the city of Guadalajara in the State of Jalisco, Mexico. The most prospective sample was an outcrop rock chip sample collected from a mineralized quartz vein hosted within silica and carbonate altered rhyolite tuff. This sample (sample 11DMP135) assayed 311 grams-per-tonne (“g/t”) silver and 7.81 g/t gold. Continuous rock channel sampling across this partially exposed zone of mineralization returned assays of 64.1 g/t silver and 0.84 g/t gold over a true width of 6.0 metres (sample Channel 2). These results outline the potential for the Property which is encouraging for the Company. Table 1 below outlines the distribution of gold and silver grades by sample type.
Great Panther Silver Ltd. is pleased to announce that it has finalized arrangements to sell all available concentrate inventories from Guanajuato before year end and is well advanced in securing new contracts for fiscal 2012 concentrate sales for both the Guanajuato and Topia Mines. This will ensure strong fourth quarter revenues which will balance out the previous revenue shortfall in the second quarter. Precious metal rich lead and zinc concentrates from Topia are typically sold to traders, destined for the Asian smelting market, whereas precious metal rich concentrates from Guanajuato are typically sold directly to smelters.
Vancouver, British Columbia — Silver Bull Resources, Inc. (TSX: SVB, NYSE Amex: SVBL) (“Silver Bull”) is pleased to announce it has brought on Dr. Chris Fleming Ph.D from SGS Canada Inc. (“SGS”), and Independent Consultant George Rawsthorne P.Eng. to lead the metallurgical program on the “Shallow Silver Zone” at Silver Bull’s Sierra Mojada project in Coahuila, Mexico.
CANGOLD LIMITED (TSX-V: CLD, the “Company”) is pleased to announce the election of Ken Major, P. Eng., to the Board of Directors of the Company at today’s Annual and Special General Meeting of shareholders.
Endeavour Silver Corp TSX:EDR announced drill results from its Guanajuato Mines project in Guanajuato State, Mexico. Highlights include
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