Category: Exploration and Development

Kootenay Silver Inc. is pleased to announce following a scheduled two-week seasonal break, drilling has recommenced on its 30,000 meter, multi-phase drill and resource expansion program on its flagship Promontorio Silver Project in Sonora, Mexico. At present, a total of three core rigs are operating on site.

Excellon Resources Inc., Mexico’s highest grade silver producer, is pleased to report results for diamond drill hole EX12LP1038, completed in late 2012 in the Rincon del Caido area, less than one km northwest of the Platosa Mine. LP1038 encountered Source-style sulphide-mineralized skarn typical of the eight other significant intersections reported in the Rincon area since spring 2012. Each of these holes intersected skarn alteration and significant metal values, including persistent anomalous gold, indicating that Rincon lies on the edge of a proximal carbonate replacement deposit, the possible Source of the Platosa mantos. The Au values encountered in LP1038, however, are far higher than those encountered previously and suggest that the Source itself will contain a significant gold component.

Minaurum Gold Inc. is pleased to report that it has regained 100% control of the 12,291-ha Adelita gold-silver-copper project in southern Sonora, Mexico from its joint venture partner, Ocean Park Ventures Corp.

Southern Silver Exploration Corp. plans to issue up to 15,000,000 units in a non-brokered private placement at a price of $0.05 per Unit to raise $750,000. Each Unit will consist of one common share and one share purchase warrant, with each warrant exercisable to purchase one additional common share for a period of three years at an exercise price of $0.10 per share.

Pan American Goldfields Ltd. acknowledges its receipt of Mr. Emilio Alvarez’s recent Delaware lawsuit which seeks to force the Company to hold an immediate Annual Meeting of Shareholders. The Company is disappointed and confused by Mr. Alvarez’s actions. Mr. Alvarez is a partner of Mr. Bruno Le Barber, a director of the Company. Messrs. LeBarber and Alvarez were both notified in writing on October 25, 2012 (more than two months prior to the filing of the Delaware lawsuit) of the Company’s intention to hold an Annual Meeting in June 2013 following the filing of its Annual Report on Form 10-K for its fiscal year ending February 28, 2013. The Company has formally selected June 28, 2013 as the date of its Annual Meeting, and will petition the Delaware court to allow the Company to hold the Annual Meeting on this date.

San Marco Resources Inc. has received the preliminary results of a petrographic study completed on a large 1 meter x 2.5 meter panel sample taken from the old Tompiate underground workings (100 meters below surface) on the Angeles property in Sonora State, Mexico.

Aurizon Mines Ltd. acknowledges the announcement made on January 14, 2013 by Alamos Gold Incorporated of its commencement of an unsolicited bid for all of the issued and outstanding shares of Aurizon that it currently does not own.

McEwen Mining Inc. is pleased to announce the results of its first year of production and for its Fourth Quarter 2012. For the full-year 2012, the Company produced 105,050 gold eq. oz (48,876 gold oz and 2,921,242 silver oz) and in Q4 produced 32,220 gold eq. oz (17,578 gold oz and 761,377 silver oz). Silver production has been converted into gold equivalent ounces (gold eq. oz) based on a 52:1 ratio.

Minera Frisco, a través de su subsidiaria Minera Espejeras, presentó el Manifiesto de Impacto Ambiental (MIA), requerido por la Secretaría de Medio Ambiente y Recursos Naturales (Semarnat), para reactivar el trámite de autorización de los trabajos de exploración en yacimientos de oro en el municipio de Tetela de Ocampo.

Santacruz Silver Mining Ltd. announces that further to its press release of November 20, 2012 the Company has received results from 18 additional diamond drill holes as part of an ongoing 6,000 meter diamond drill program at its 100% owned Gavilanes Silver project in Durango, Mexico. The current drill program is designed to test three of seven known silver-bearing veins and a stockwork area within the 7,347 hectare property.