Day: January 30, 2018

During the quarter the Scoping Study into recommencing mining at its Plomosas mine in Mexico was completed with positive results at a base-case level as well as several potential areas where returns might be improved.

Minera Alamos Inc. and Corex Gold Corporation are pleased to announce that they have entered into a definitive arrangement agreement dated January 30, 2018 to combine the two companies, creating a well-funded, multi-asset, Mexican gold development company. The combined company will have a market capitalization of approximately C$50 million, approximately C$6 million in cash and a portfolio of three high quality gold-silver development assets, each offering near-term production potential and low capital cost advantages.

Canuc Resources Corporation is pleased to announce that it has completed a vertical amalgamation with its wholly-owned subsidiary, Santa Rosa Silver Mining Corporation, pursuant to subsection 177 of the Business Corporations Act. The Vertical Amalgamation did not require shareholder approval and was completed to simplify the corporate structure of Canuc. No securities were issued in connection with the vertical amalgamation. The shares of the subsidiary were cancelled without any repayment of capital in respect of them.

Orla Mining Ltd. announced today that it has entered into an agreement with a syndicate of underwriters led by GMP Securities L.P. pursuant to which the Underwriters will purchase, on a bought deal basis, 14,560,000 units of the Company at a price of C$1.75 per Unit for aggregate gross proceeds to the Company of C$25,480,000.

“After a turn-around year in 2017, we are expecting the San Francisco Mine to return to consistent gold production at 90,000 to 100,000 ounces this year compared to 83,558 ounces in 2017.” said Greg McCunn, Chief Executive Officer. “In 2017 we undertook a significant waste stripping campaign to open up the main pit. As a result, we now have increased mining flexibility and the ability to deliver consistent ore feed to the leach pads.

“Premier remains focused on increasing future production by advancing multiple projects” commented President & CEO Ewan Downie. “A substantial portion of this budget is allotted to exploration, a long-standing commitment of the Company that has resulted in several significant discoveries and a peer-best development pipeline.”

Paul Carroll, CEO of War Eagle commented, “This transaction is ideal for both parties – it combines a superb, newly amalgamated land position with critical exploration capital and a first-class management team.”