Month: January 2017

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.

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.

Colibri Resource Corporation announces that further to the TSX Venture Exchange Bulletin dated December 16, 2016, trading in the shares of the Company remain halted pending receipt and review of acceptable documentation regarding the Fundamental Acquisition of Canadian Gold Resources pursuant to Listing Policy 5.6 (d) of Exchange Policy 5.3

Camrova Resources Inc. is pleased to report that Tom Ogryzlo (Interim CEO) and Nigel Kirkwood (CFO), recently attended a meeting of the Board of Directors of Minera y Metalúrgica del Boleo, S.A. P.I. de C.V. at site where they were presented with an update on operations for 2016, the MMB Business Plan and Budget for 2017 and an updated LOM Plan containing projections through to 2031, when mining operations are forecast to terminate. Camrova management also went underground to observe the recent progress that has been made through application of the newly introduced mining methods. The Company is now able to provide an update on developments relating to the mining activities and process plant.

“Pan American has achieved the successful transformation to a low-cost silver producer in 2016. In addition to beating our guidance on annual silver production, Cash Costs of $6.29 per ounce came in well below our original guidance provided in January 2016,” said Michael Steinmann, President and Chief Executive Officer of the Company. “Our three-year outlook will build on the progress we made in 2016, with the potential for strong production growth and further cost reductions stemming from our mine expansions and continued capital spending discipline.”

Millrock’s President and CEO, Gregory A. Beischer, stated: “While we will not under-estimate the work ahead, we continue to carry forward into 2017 with a spirit of optimism. The cycle seems to have changed, and we have positioned Millrock as best we possibly can to capitalize on a bull market in precious, base and energy metals. We now have an extensive exploration property portfolio diversified across four excellent mining jurisdictions, and the company is being actively funded by partners. With continued excellent scientific work, supportive funding partners and shareholders, we have the potential to make a transformative discovery in the coming year.”

“We are very pleased with our operating performance in the fourth quarter and for the year 2016,” stated Arturo Bonillas, President of the Company. “Gold ounces produced in the fourth quarter were 25,287, bringing the total to over 100,000 ounces for the year and putting us through the upper end of our guidance which had been revised higher during the year. We would like to acknowledge our dedicated team at the San Francisco Mine for their commitment and efforts during what began as a challenging year.”