Month: March 2016

“This quarter we were able to announce two significant milestones; we entered into an agreement to sell our San Pedrito Property, expecting to net the Company approximately US$7million; and we poured our first doré bar from the newly commissioned Altiplano Concentrate Processing Plant located in Matehuala, Mexico. Along with our continued production and positive cash flow from our San Martin mine in Queretaro, we are expanding our profitable footprint in Mexico in accordance with our long term goals.” reported Robert Eadie, President of the Company.

“Our investment in exploration continues to pay off,” stated Ernest Mast, President and Chief Executive Officer. “We have successfully grown our total Mineral Resources through the addition of new mineralized areas, such as the Froome Zone at Black Fox. We have taken measures to improve our modelling methodologies to maximize future free cash flow generation and provide more certainty to our mine plans. Looking to the future, we have a very positive outlook with expected exploration results from the Froome Zone and other Froome-like targets at Black Fox, and from areas located outside the Silver Purchase Agreement at San Dimas such as the Ventanas property and Lechuguilla concession.”

Northair Silver Corp. is pleased to announce that it has filed its management information circular and related proxy materials on SEDAR in advance of the Company’s special meeting of shareholders to be held on April 14, 2016 to seek approval of the proposed plan of arrangement with Kootenay Silver Inc.

Pete Dougherty, President and CEO of Argonaut Gold stated, “I am proud of what the team has accomplished. We had a record year of production as a Company. We met our production guidance for the year, even with lower grades than planned at El Castillo. At La Colorada, throughput and production exceeded expectations. We were able to increase cash on the balance sheet in the second half of the year and were only slightly down year-over-year, even after the $20 million final payment to complete the purchase of the San Agustin project. We expect to make a construction decision on this project in the latter part of 2016. We were able to negotiate key contracts and streamline the business to allow us to plan for fully loaded costs (including operating, capital, taxes and corporate administrative costs) to be less than $1,000 per ounce for 2016. This gives us tremendous leverage to a rise in gold price..”

San Marco Resources Inc. announces it proposes to carry out, subject to TSX Venture Exchange approval, a private placement of up to 3,000,000 units at $0.05 per unit for gross proceeds of up to $150,000.

Fred Davidson, President and CEO, stated, “Our production performance during the fourth quarter 2015 continues to demonstrate IMPACT Silver’s success and viability as a proven explorer and producer as it continues to manage its costs and mining grades. With a decade of production history, this quarter we continue to generate some of the highest grades in the Company’s history at 190 g/t silver. Despite lower silver prices persisting in 2015, our focus on profitability and higher grade zones of silver especially at San Ramon and Mirasol resulted in revenue per tonne of $91.68 compared to $68.75 in the comparative quarter for 2014. IMPACT is currently free from long-term debt and our operations are primarily funded by production cash flow. However, if the price of silver remains at current low levels, the Company may consider opportunities to improve its balance sheet and fund future developments through financing and/or acquisition or merger.”

Canarc Resource Corp. is pleased to announce that it has closed the second tranche of its private placement equity financing that was announced in the Company’s news release dated February 16, 2016.

As also announced on May 5, 2015, the Company still intends to dispose of all of its current mineral assets to Commander Resources Ltd. Completion of the Commander Transaction remains subject to regulatory approval. The Company is also continuing to evaluate other opportunities and intends to provide an update to its shareholders in the near future.