Day: April 18, 2012

Cayden Resources Inc. is pleased to announce that it has acquired an option to earn a 100% interest in the 9,800 ha El Barqueno Gold Property. The Property is approximately 110 km west of Guadalajara in the state of Jalisco, Mexico. Under the Option, Cayden can acquire 100% of El Barqueno by making option payments to a subsidiary of Grupo Mexico over a three year period aggregating US $8 million (plus recoverable VAT) with payments of only $2.1 million in the first 24 months. The Option is subject to a 1.5% NSR (4% on a portion of the Property) and annual advance royalty obligations after 24 months from option exercise if commercial production has not commenced by then. A finders fee equivalent to 10% of the value of the option is payable to Ing. Antonio Berlanga, the finders fee will be payable at the rate of the option not to exceed $800,000USD of which will be paid 80% in shares and the balance in cash.

Soltoro Ltd. has commenced a reverse circulation drill program in the Piedras Amarillas mineralized zone at its 100% owned El Rayo silver project. Currently two diamond drill rigs and one RC rig are drilling at El Rayo to expand the existing measured and indicated 77.4 million ounce silver resource. The Piedras Amarillas mineralized area has never been mined or drill tested and is similar in size and orientation to that of the Las Bolas deposit area. To date Soltoro has completed soil sampling, trenching, a ground magnetics survey and an Induced Polarization study in order to define drill targets at Piedras Amarillas.

Kootenay Silver said Wednesday that Pinecrest Resources has started a phase I drilling program on Kootenay’s Espiritu gold-silver polymetallic project in Sonora, Mexico under a joint venture deal.

Scorpio Mining Corporation reports that production in the first quarter ended March 31, 2012 from the Nuestra Señora operation totalled 620,356 silver equivalent ounces.