Category: Exploration and Development

San Marco Resources Inc. has received additional assay results from underground sampling of old workings and reports on additional exploration activities at its Angeles property in Sonora state, Mexico. As previously reported (News Release dated September 10, 2012), the Company’s geologists had accessed old underground workings and commenced channel sampling across structures as well as adjacent footwall breccia. Most of these workings (apparently 90 – 100 years old) have collapsed, however 2 levels below the main access adit were sampled along approximately 20 meters of strike. Where possible, the adjacent footwall breccia and the hanging wall shear zones were sampled.

McEwen Mining Inc. is pleased to announce additional exploration results from its 100% owned El Gallo Complex, in Sinaloa State, Mexico, where gold production has recently commenced.

Focus Ventures Ltd. is pleased to announce an update on exploration at its El Reventon project, located in the western half of its Santa Cruz project in Durango, Mexico. Focus controls a district-scale land position covering a number of silver discoveries made since late 2011, which includes the 4,430 hectare El Reventon property.

Aurcana Corporation is pleased to announce that it has filed a technical report on SEDAR updating the resource estimate for La Negra Mine, the Company’s silver, zinc, lead, and copper mining operation in the State of Queretaro, Mexico (see AUN news release dated August 28, 2012). The updated mineral resource has been completed to NI 43-101 standards.

The Ejido La Sierrita has presented a complaint to the Federal Prosecutor of Environmental Protection against Canadian mining company Excellon Resources Inc. The company operates the La Platosa mine in Mapimí, Durango, Mexico.

Garibaldi Resources Corp. is pleased to announce that it has acquired an option to purchase a 100% interest in the Marco 1 (330 hectares) and Marco 2 (150 hectares) concessions, contiguous to the Company’s Locust drill target at its Tonichi project, Sonora State, Mexico.

Yale Resources Ltd. is pleased to report that optionee Mammoth Resources Corp. has announced the completion of the first phase of its comprehensive work program and that further work is planned for the 290 square kilometre Urique Project, located in Chihuahua State, Mexico. Work at Urique was performed by Yale on behalf of Mammoth.

Endeavour Silver Corp. announces that the illegal work stoppage that blocked Company management and subsidiaries personnel from accessing certain facilities held under lease near the El Cubo mine located in the state of Guanajuato, Mexico has now been resolved.

MINERA FRISCO Y AURICO GOLD CELEBRAN UN ACUERDO DEFINITIVO CONFORME AL CUAL MINERA FRISCO, S.A.B. DE C.V. INFORMA QUE SU CONSEJO DE ADMINISTRACíÓN HA DECIDIDO SOMETER A LA CONSIDERACíÓN DE LA ASAMBLEA DE ACCIONISTAS DE LA SOCIEDAD LA ADQUISICíÓN DE LA TOTALIDAD DE LAS ACCIONES EN CIRCULACíÓN REPRESENTATIVAS DEL CAPITAL SOCIAL DE AURICO GOLD DE MÉXICO, S.A. DE C.V., UNA SUBSIDIARIA DE AURICO GOLD INC. (NYSE, TSX: AUQ), QUE ES TITULAR DE LAS CONCESIONES Y DERECHOS CONFORME A LAS CUALES OPERA Y EXPLOTA LA MINA CONOCIDA COMO “OCAMPO” Y REALIZA ESTUDIOS DE FACTIBILIDAD Y OTRAS ACTIVIDADES DE EXPLORACíÓN EN LAS PROPIEDADES CONOCIDAS COMO “VENUS” Y “LOS JARROS”, TODAS UBICADAS EN EL ESTADO DE CHIHUAHUA, ASÍ COMO DE UNA PARTICIPACíÓN DEL 50% EN EL CAPITAL SOCIAL DE OTRA SUBSIDIARIA DE AURICO GOLD INC., TITULAR DE LOS DERECHOS PARA EXPLORAR Y DESARROLLAR EL PROYECTO MINERO CONOCIDO COMO “ORíÓN”, UBICADO EN EL ESTADO DE NAYARIT, POR UNA CONTRAPRESTACíÓN TOTAL EN EFECTIVO DE EU$750 MILLONES DE DÓLARES. SE ESPERA CONCLUIR LA TRANSACCíÓN EN DICIEMBRE DE 2012.LA TRANSACCíÓN SE ENCUENTRA SUJETA AL CUMPLIMIENTO DE CONDICIONES DE CIERRE USUALES EN OPERACIONES DE ESTE TIPO, INCLUYENDO AUTORIZACIONES REGULATORIAS Y CORPORATIVAS COMO LA AUTORIZACíÓN DE LA COMISíÓN FEDERAL DE COMPETENCIA Y LA APROBACíÓN DE LA ASAMBLEA DE ACCIONISTAS DE MFRISCO.

AuRico Gold Inc. is pleased to announce that it has entered into a definitive agreement pursuant to which Minera Frisco, S.A.B. de C.V. will acquire the Ocampo mine and the adjacent exploration projects “Venus” and “Los Jarros” all located in Chihuahua State, Mexico and a 50% interest in the Orion advanced development project located in Nayarit State, Mexico from AuRico Gold, for a total cash consideration of $750 million. Minera Frisco is a leading Mexican mining company that was spun out of Grupo Carso S.A. de C.V. in November 2010 and is listed on the Mexican Stock Exchange with a current market capitalization of approximately $10.7 billion. The transaction is expected to close in December 2012.