Category: Exploration and Development

Mammoth Resources Corp. is pleased to report that following two tours by its geological team exploring the company’s Tenoriba Property, located in the prolific Sierra Madre precious metal belt in south western Chihuahua state, Mexico (refer to the company’s website www.mammothresources.ca, for a detailed location map), it has extended mapping and sampling of similarly altered felsic volcanics and breccia with numerous locations of vuggy silica to the northeast and south west of the area previously drilled by Masuparia Gold Corporation (Masuparia). The occurrence of these rock types, extending at least one kilometre to the northeast and one kilometre northwest are similar to those drilled by Masuparia in which it intersected up to 45 grams per gold per tonne (please refer to press release dated July 3, 2012 for the results of this work).

McEwen Mining Inc. is pleased to announce that it has successfully achieved commercial production at El Gallo Phase 1 in Sinaloa State, Mexico on January 1, 2013. On September 24th, the Company announced that it had poured its first bar of gold at the mine. Subsequent to the first pour, the mine has been steadily increasing mine, crusher and leaching production and is now operating at 90% of the designed capacity. Final ramp-up is expected to be achieved during the First Quarter. El Gallo Phase 1 is forecasted to produce approximately 30,000 ounces in 2013. Operating costs will be reported starting in the First Quarter. Final 2012 production figures for the San José mine (Argentina), El Gallo Phase 1, and guidance for 2013 is expected to be provided in the coming week.

Bacanora Minerals Ltd. is pleased to announce the completion and filing of its previously announced Preliminary Economic Assessment on the Company’s Cajon Borate deposit in Sonora, Mexico. The PEA has been prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects and is entitled, Preliminary Economic Assessment for the El Cajon Borate Deposit, Magdalena Basin Project, Sonora, Mexico (Pursuant to National Instrument 43-101 of the Canadian Securities Administrators), Magdalena de Kino Area (Map Sheet H1205) Sonora, Mexico, Centered at: 30 degrees 30’N, 110 degrees 50’W. The lead author with overall responsibility for the PEA is Carl G. Verley, P.Geo., who is a “qualified person” within the meaning of NI 43-101 and is independent of the Corporation. The co-authors of the PEA are Geoff Allard, P.E., Ramon Salazar Velazquez, Lic. Eng. and Martin Vidal, MSc, Lic. Geo. The PEA has been filed on SEDAR and is also available for download on the Corporation’s website. For further details, please refer to the PEA and the Company’s prior press releases announcing the results of the PEA (dated January 4 and January 7, 2013).

Gold Resource Corporation today announced high-grade mineralization at its Las Margaritas property with drill intercepts including 2.85 meters of 27.90 grams (0.89 ounces) per tonne gold and 2600 grams (84 ounces) per tonne silver. Gold Resource Corporation is a low-cost gold and silver producer with operations in the southern state of Oaxaca, Mexico. The Company has returned over $69 million to shareholders in monthly dividends since declaring commercial production July 1, 2010, and offers shareholders the option to convert their cash dividends into physical gold and silver.

Sierra Iron Ore Corp. in conjunction with “Aztec Zinc de Mexico S.A. de C.V” has initiated legal action against a neighboring company that owns and operates a mine on adjacent property to the recently optioned Mazomique property that is located south of the El Creston property.

Corex Gold Corp. shareholders at the Extraordinary General Meeting convened earlier today voted to support the approval of the previously announced (November 6, 2012) Option Agreement with Vale Exploraciones Mexico S.A. de C.V., a wholly-owned subsidiary of Vale S.A. wherein Vale may acquire up to a 65% interest in the Company’s Santana Project.

Silver Standard Resources Inc. announced 2012 production at the Pirquitas mine in Jujuy, Argentina and provided production and cost guidance for 2013.

Alamos Gold Inc. today reported record fourth quarter and annual gold production, achieving its production guidance for the year of 200,000 ounces of gold. The Company also provided guidance on 2013 production and operating, development and exploration budgets.

San Marco Resources Inc. has received notification from Patriot Minefinders Inc. that they will not be proceeding with the La Buena property option.

Catalyst Copper Corp. announces that it has provided Minera Torre de Oro SA de CV, a Mexican subsidiary of Teck Resources Limited, Notice that it has incurred +US$10 million of Expenditures and completed the required Work Commitments in accordance with the agreement, dated December 21, 2009, between Teck and Minera Hill 29 SA de CV (Catalyst’s wholly owned Mexican subsidiary).