Day: October 25, 2013

Freyja Resources Inc. is pleased to announce that it has acquired one-hundred percent (100%) of the issued and outstanding common shares in the capital of Cyprium Mining Corporation, a junior mining company which targets the acquisition and generation of mining projects located solely in Northern Mexico that have the potential for profitable precious and base metal open pit production. For further details regarding the Transaction, please see Freyja’s press releases dated June 18, 2013, August 1, 2013, August 9, 2013, September 9, 2013, September 18, 2013 and September 30, 2013.

Until a few months ago, Mexico was one of the rare countries left in the world that didn’t charge taxes on mining production or profits. But a proposed 7.5% tax on resource companies, and as much as 8% for gold, silver and platinum miners, is scaring investors and small players away.

Scorpio Mining Corporation today announced the resignation of Mr. Thomas (Tom) McGrail from the position of Chief Operating Officer, effective November 1, 2013. Mr. McGrail, who was based in Cosalá, Mexico, has tendered his resignation in order to attend to pressing family matters which will require more of his time to be spent at home with his family.