Day: February 12, 2016

Goldgroup Mining Inc. announces it has issued 4,691,000 common shares at a deemed price of $0.06 per Share to satisfy debt owing to Oroco Resource Corp. in the amount of US$200,000.

GoGold Resources Inc. is pleased to announce the release of financial results for the quarter ending December 31, 2015. The Company recorded revenue of $3 million from the sale of 219,292 silver equivalent ounces at a cash cost of $6.54 per silver equivalent ounce.

Americas Silver Corporation is pleased to announce that it has closed the previously announced subordinated credit facility with its two existing lenders and equity holders for a principal amount of U.S. $2.9 million. The New Credit Facility has a 12 month term with interest to accrue from closing at a rate of 10% per annum payable quarterly in cash or shares (at the option of the lenders at the then market price and subject to TSX approval) with the full principal balance due on maturity. The New Credit Facility is subject to an inter-creditor agreement between the Company’s existing lenders and ranks in priority behind the roughly U.S. $6.0M in senior secured notes and equally with the U.S. $1M in junior secured notes. In connection with the New Credit Facility, the Company has issued 30,000,000 common share purchase warrants divided between the lenders with a term of 3 years and an exercise price of $0.10 and adjusted the exercise price of the existing 24,321,111 warrants already held by the lenders in connection with prior financings to $0.10 with all other terms remaining unchanged.

Sierra Metals Inc. is pleased to report a positive outcome in the legal dispute between Polo & Ron Minerals and Dia Bras Exploration Inc., and Dia Bras Mexicana a subsidiary of Sierra Metals, that holds its Bolivar and Cusi properties in Mexico.