Category: Exploration and Development

Mammoth Resources Corp. is pleased to announce that it has received results from the X-Ray Diffraction (XRD) analysis performed on 72 samples collected on a portion of its 8,100 hectare Tenoriba project, located in southwestern Chihuahua State, Mexico. The XRD analysis identified the presence of numerous alteration minerals, which when combined with the presence of vuggy silica, silicic, advanced to intermediate argillic alteration, in rocks covering an approximate 15 square kilometer area, provide further compelling evidence that the Tenoriba project hosts a high-sulphidation precious metal target. The association of Kaolinite and Dickite in particular identifies almost complete acid attack of an advanced argillic alteration system, which is a compelling observation indicating a strong and active epithermal system. Refer to Figure 1. – Sample Location Map of XRD Samples, Tenoriba Project.

Riverside Resources Inc. is pleased to provide exploration results and program updates for recent work completed at the Company’s Naranjo and Huacana projects in Mexico. Both projects are being advanced under the iron-oxide copper gold (IOCG) Strategic Alliance with partner Cliffs Natural Resources Exploration Inc., a wholly-owned subsidiary of Cliffs Natural Resources Inc. Riverside is currently managing a fully funded USD$450,000 work program now underway at the Huacana Project. The exploration work program consists of geologic mapping and rock-chip sampling, soil and stream-sediment sampling, re-examination of previous drill core, analytical studies, and an aeromagnetic-radiometric survey. Soil and stream-sediment sampling data have been received and are being interpreted; initial results are confirming and expanding the previously known positive results for a porphyry copper system.

* Esperanza will acquire a portfolio of advanced stage gold projects including the La Bolsa project in Mexico, the Pico Machay project in Peru, the Calcatreu project in Argentina and related exploration properties from Pan American for consideration of 50,900,000 common shares and 10,000,000 warrants of Esperanza;

* Pan American will subscribe for 20,600,000 Common Shares of Esperanza at a price of $1.70 per Common Share representing a premium of 29% to the 20-day volume weighted average share price on the TSX Venture Exchange and a 48% premium to the closing price on February 22, 2013; and

* Esperanza and Pan American have committed to enter into a $15,000,000 standby convertible credit facility.

Animas Resources Ltd. has signed a letter of intent with Dore King Min SA de CV, a private Mexican gold mining company, which will work towards permitting, development, construction, and restarting gold production at the Santa Gertrudis Gold Project.

Oroco Resource Corp. is pleased to announce that the Seventh District Judge (Federal) of the State of Guerrero has held the constitutional hearing in the two amparo petitions related to the registration of the Celia Gene and Celia Generosa concessions (see the Company’s news release dated October 22, 2012 and its most recent MD&A). With this phase of the proceedings completed, the court is now in a position to make its decision on the amparos.

* Definitive agreement on KM66 property executed
* Geological work to commence at KM66 next week
* Mr. John LaGourgue appointed as Chief Executive Officer

Lake Shore Gold is selling all of its Mexican properties to Revolution Resources so that it can keep its management team and finances focused on its Canadian assets.

Mexico’s new government is considering relaunching an abandoned rescue effort to reach the bodies of 63 miners in a coal mine in northern Mexico since 2006, one of the worst mining disasters in the country’s history.

Almaden Minerals Ltd. announces that it has commenced a diamond drill program on its 100% owned El Cobre porphyry copper-gold project in Veracruz State, Mexico. Drilling has been planned to test various geophysical and geochemical anomalies within this extensive porphyry copper-gold system. The drill program consists of one drill capable of drilling to >1,000 meters depth. An initial 5,000 meters is planned, comprised of 5 to 8 >500 meter deep holes.

GoGold Resources Inc. is pleased to announce the completion of a Pre-Feasibility Study on its Parral Tailings project in Chihuahua State, Mexico which defines a reserve of 35 million Silver Equivalent Ounces and a pre-tax internal rate of return of 80%. The study projects an initial capital cost of $35 million and a life of mine of 12 years with an average annual production of 1.8 million Silver Equivalent Ounces* (1.2 million ounces of silver and 11,000 ounces of gold). The mine production is planned at 5,000 tonnes per day on a conventional heap leach with a sustaining capital of $27.5 million over LOM. The Pre-Feasibility Study on the Parral Tailings Project in Chihuahua, Mexico was prepared by The MDM Group of South Africa, in accordance with the requirements of Canadian National Instrument 43-101 “Standards of Disclosure for Mineral Projects”.