Category: Exploration and Development

Torex Gold Resources Inc. is pleased to report that the first two holes drilled into its Media Luna West target have returned high-value, gold-copper-silver mineralization of significant thickness. Borehole SS-06 delivered 14.6m with Au eq. grade of 8.76 g/t. Borehole MLW-04 delivered 39.4m with Au eq. grade of 4.00 g/t The Media Luna Area contains three magnetic anomaly targets that cover approximately 500 hectares. Media Luna West is the second of these targets to be drill tested and is located approximately 1.4 km to the west of the main Media Luna target. The third target is scheduled to be tested later in the drill program and as well, there are several other magnetic anomaly targets in close proximity to the Media Luna Area, at the Morelos Gold Project in Mexico.

Corex Gold Corp. wishes to announce that, further to its news release dated July 25, 2012 relating to a letter of intent with Vale Exploration Canada Inc., a wholly-owned subsidiary of Vale S.A., the parties have extended the deadline for entering into a formal option agreement with respect to the Company’s Santana Project from October 19, 2012 to November 5, 2012.

Paget Minerals Corp. announced today the initiation of Phase 1 drilling at the San Ricardo Gold-Silver Project located within the prolific porphyry and epithermal gold-silver-copper belt of northern Sonora State, Mexico. Paget has an option to earn up to 60% of the 38,100-hectare property from Sundance Minerals Ltd.

Soltoro Ltd. holds a total of 6,847,000 common shares of Argentum Silver Corp. and is completing the transfer of 100% of the mining rights to the Coyote property to Argentum Silver Corp. Upon transfer, Soltoro will retain a 3% Net Smelter Return interest in Coyote whereby 1% can be purchased by Argentum Silver for US$1.5 million to a maximum of 2%.

Source Exploration Corp. is pleased to report that step-out drilling at the Santa Cruz target at the Las Minas project in Mexico has intersected high-grade mineralization along-strike from that previously discovered in hole LM-11-SC-45, within the larger halo of copper-gold mineralization at Las Minas. As previously reported, hole LM-SC-45 returned an intercept of 15.89 grams per tonne gold (g/t Au) 12.98 grams per tonne silver (g/t Ag) and 2.25 percent copper (% Cu) over 10.0 metres. Step-out drilling has returned significant gold values as well as some of the highest grade silver and copper intercepts recorded to date. The higher grade mineralization appears to be closely associated with skarn-type alteration with high magnetite content ranging up to 90% by volume. A detailed magnetic geophysical survey has been initiated in an effort to better define future drill targets.

Prospero Silver Corp. is pleased to announce that it has acquired by staking the 6,000 hectare El Petate project located 30km northwest of the historic Pachuca-Real del Monte mining district. This new project acquisition is part of a systematic exploration program in the Mexican Altiplano and reflects Prospero’s strategy of creating value as a Mexico-focused project generator. El Petate will be added to the Company’s portfolio of 100% owned projects available for joint venture.

Sundance Minerals Ltd. announced today the initiation of Phase 1 drilling at the San Ricardo Gold Project located within the prolific porphyry and epithermal gold-silver-copper belt of northern Sonora State, Mexico. The program consists of approximately 800 meters of diamond drilling in the Santa Cruz Target, one of the multiple targets within Sundance’s 38,100 hectares property. The drilling will be carried out by Falcon Perforaciones of Hermosillo, Mexico under the supervision of Sundance geologists.

California Gold Corp. has completed the majority of its planned 2011-2012 exploration program at its AuroTellurio project near the town of Moctezuma in the state of Sonora, Mexico, and is currently planning a drilling program as a logical follow up to the exploration results generated to date.

Catalyst Copper Corp. today announced an updated Measured plus Indicated Resource of 408 million tonnes grading 0.41% Cu; 0.03 g/t Au; 2.4 g/t Ag at the La Verde copper porphyry deposit in Michoacán State, Mexico. This resource is estimated to contain 3.7 billion lbs of copper; 446,000 oz of gold; 31.7 million oz of silver. In addition, Inferred Mineral Resources are estimated at 338 million tonnes grading 0.37% Cu; 0.02 g/t Au; 1.9 g/t Ag and estimated to contain 2.7 billion lbs of copper; 250,000 oz of gold; 21.0 million oz of silver.

Excalibur Resources Ltd. is pleased to announce that it has initiated a regional exploration work program on the claims owned by its 49% owned subsidiary Minera Catanava S.A. de C.V. which is 51% owned by Minera Apolo S.A de C.V. In parallel with the results of ‘bulk samples’ processed through the recently completed gravimetric plant, the focus of the work program is to systematically map, sample and drill the current areas of mining, namely the Camino and San Gil veins, as well as the future areas of production and mineralized zones in order to establish an NI 43-101 compliant resource. Continuous chip channel sampling of veins in underground workings and at surface will be a key component of the work program.