Day: January 16, 2017

Pete Dougherty, President & CEO stated: “Production at El Castillo normalized during the fourth quarter after a challenging third quarter, while La Colorada provided consistent production throughout 2016. The 34,384 GEOs of production during the fourth quarter represents our strongest quarter of the year and also is the largest quarterly production total since the second quarter of 2015. I’m also pleased to report that construction at San Agustin is advancing on schedule and on budget. With first gold production from San Agustin targeted for the third quarter of this year and the following ramp up, we expect our highest quarterly production and lowest costs during the fourth quarter of 2017. Looking forward in terms of operations, we remain focused on operating in a safe and environmentally conscious manner while providing production growth over the next several years as we construct and ramp up operations at San Agustin.”

Canasil Resources Inc. announces that Orex Minerals Inc. has provided notice of exercise of the first option for earn-in of 55% interest in Canasil’s Sandra-Escobar Project in Durango, Mexico. Orex also notified Canasil that it would not be proceeding with the second option to earn an additional 10% interest in the project for a total of 65%. As a result the project will proceed as a 55:45 Orex:Canasil joint venture. Orex has paid Canasil $500,000 and incurred more than US$2,000,000 expenditures to exercise the first option under the terms of an option agreement with Canasil announced on September 15, 2015. Orex exploration programs have included over 10,303 metres of core drilling in 65 drill holes, a helicopter-borne magnetic and radiometric survey and extensive surface sampling and mapping in the southeast of the project area.

“Despite the recent copper price momentum, our 2017 operating plan and five-year outlook takes a conservative stance on metal prices while focusing on further cost efficiencies at our existing operations,” said Darren Pylot, Capstone President and CEO. “We are looking forward to our 2017 opportunities, including building on the operating success at Pinto Valley, extension of mining activities at Minto and the zinc potential at Cozamin.”

McEwen Mining Inc. is pleased to announce annual consolidated production in 2016 was 145,530 gold equivalent ounces using a gold to silver ratio of 75:1, or 101,482 gold ounces and 3,303,709 silver ounces.

Vendome Resources Corp. is pleased to announce that the Company has filed Articles of Amendment effecting its name change to Vanadium One Energy Corp. The Company expects that the shares will commence trading on the TSX Venture Exchange under the new name and ticker symbol “VONE” upon the opening of the markets on Monday, January 16, 2017.

Aura Silver Resources Inc. announces that it has closed the first tranche of its non-brokered private placement of up to $500,000 announced on November 29, 2016. Aggregate proceeds of approximately $209,000 were raised on this first tranche for 5,977,737 units issued at $0.035 per unit.

Orex Minerals Inc. is pleased to announce that it has exercised the first option and formed a joint venture pursuant to an option agreement dated September 15, 2015 with Canasil Resources Inc. Orex has earned a 55% ownership interest in the Sandra Escobar project in Durango state, Mexico by paying Canasil CAD $500,000 upon signing and spending more than USD $2,000,000 in exploration and development at the Project. A joint committee will be formed to manage ongoing exploration at the Project with representation based on the proportional interest of each party.