Day: April 3, 2012

Canasil Resources Inc. announces that MAG Silver Corp. has completed 8 additional drill holes on the Esperanza Vein at Canasil’s La Esperanza silver-zinc-lead project in Durango and Zacatecas States, Mexico. These holes were blind step-outs on projection of the vein located 400 metres northwest, 350 metres southeast and 1,000 metres southeast of the previously drilled high-grade ore shoot, which returned very encouraging silver, zinc and lead intercepts in MAG’s initial 3 drill holes, previously reported on February 22, 2012, as well as in previous drilling by Canasil. The latest holes did not intercept the vein, most probably due to apparent post-mineral faulting that has displaced the vein, which will be investigated in future exploration and drilling. MAG interprets the large aeromagnetic anomaly observed in the Esperanza vein zone, measuring approximately 5 kilometres by 3 kilometres, as a possible signature of a significant mineralized system which will continue to be explored.

Oremex Gold Inc. is pleased to announce additional rock sampling results from its 100% owned Cerro del Oro gold project, located in the Melchor Ocampo mining district in northern Zacatecas State, Mexico. Furthermore, rehabilitation of two underground workings to facilitate the commencement of an underground drilling program is currently underway.

Paramount Gold and Silver Corp. today reported more high grade assay results from its Don Ese North deposit located less that 1 km east of the Guadalupe underground mine operated by Coeur d’Alene Mines Corporation. The Don Ese high-grade gold and silver deposit was discovered by Paramount on its 100%-owned San Miguel Project in Mexico in December, 2010.

American Consolidated Minerals Corp. is pleased to report that it has met all of the terms of its agreement with Sparton Resources Inc. and has completed the acquisition of Sparton’s 50% interest in the 500-hectare Sierra Rosario Property located in the state of Sinaloa, Mexico. International Northair Mines Ltd. is the owner of the other 50% of Sierra Rosario and the project operator.