Category: Exploration and Development

MAG Silver Corp. is pleased to announce results from continued definition drilling of the Jose Manto-Bridge Zone on its 100% owned Cinco de Mayo Property in northern Chihuahua, Mexico. Note that these results are not in follow up to the newly discovered Pegaso zone (see Press Release dated July 18, 2012). The best intercepts are: Hole 430, on the 383 Section at the northwest end of the Bridge Zone, which reported 84 grams per tonne (2.4 ounces per ton) silver with 1.6% lead and 11.0% zinc over 11.79 metres; including: 160 g/t (4.7 opt) silver with 3.2% lead and 12% zinc over 5.87 metres; including: 2.54 metres that grades 258 g/t (7.5 opt) silver with 7.1% lead and 25.9% zinc; and Hole 418, on the 382 Section at the southeast end of the Bridge Zone which reported 131 g/t (3.8 opt) silver with 4.6% lead and 6.8% zinc over 9.17 metres; including: 2.70 metres that grades 256 g/t (7.5 opt) silver with 6.8% lead and 8.0% zinc.

Great Panther Silver Limited today announced it has purchased a 100% interest in the El Horcon Silver-Gold Project in Jalisco State, Mexico from Compania Minera El Dore, S.A. de C.V., a private Mexican company, for total consideration of US$1,600,000 in cash. El Horcon covers 7,908 hectares in 17 contiguous mining concessions and is located 60 kilometres northwest of Great Panther’s Guanajuato Mine Complex. As such, it is within trucking distance to the Company’s Cata Processing Plant.

Soltoro Ltd. has encountered additional high-grade silver mineralization at depth at the La Soledad West deposit on its El Rayo Project in Jalisco. Mexico. Three of four step-out diamond drill holes have intersected high-grade silver mineralization with each hole containing intervals of nearly 500 g/t silver. Further drilling at depth and along strike to the east and west is planned to define the limits of the La Soledad West deposit.

Agnico-Eagle Mines Limited is pleased to announce that its Board of Directors has approved the development and construction of the La India mine in Sonora, Mexico.

Paramount Gold and Silver Corp. today released results from an updated NI 43-101- compliant resource estimate for its 100%-owned San Miguel Project in Mexico. The updated estimate was prepared by Mine Development Associates (MDA, www.mda.com) of Reno, Nevada and includes data from 139 new core drill holes totaling 37,925 meters completed during 2011 and the first half of 2012. Previous resource estimates used in this press release for comparison purposes were also prepared by MDA.

Torex Gold Resources Inc. is pleased to report that drilling results continue to expand the gold-copper-silver mineralization at its Media Luna discovery located south of the Balsas River, on the Morelos Project in Mexico. In addition, work is continuing on several other high potential targets south of the Balsas River.

International Northair Mines Ltd. is pleased to announce assay results from 6 core holes completed in the Las Carolinas Zone at its La Cigarra silver project, located in north central Mexico.

First Mexican Gold Corp. would like to announce that additional drilling has been completed at its Guadalupe property in Sonora State Mexico.

Canasil Resources Inc. announces that MAG Silver Corp. has received the drill permit for the planned Phase 2 drill program at Canasil’s La Esperanza silver-zinc-lead project in Durango and Zacatecas States, Mexico. MAG has also completed the required CAD$150,000 option payment to Canasil for the third year of the option agreement and will now be required to spend an additional CAD$1,500,000 in exploration expenditures from September 1, 2012, to September 1, 2013, in order to maintain the agreement in good standing. A final option payment of CAD$200,000 will be required on September 1, 2013, together with additional exploration expenditures of CAD$1,750,000 by September 1, 2014, should MAG decide to continue and complete the earn-in of a 60% interest in the project under the agreement. MAG reported that drilling is expected to resume at La Esperanza during the third quarter 2012 to test the Fatima, San Pascual and Los Alamitos veins in the north-western part of the project area.

The Canada-based silver and gold exploration and development company has targeted near-term production (within one year)as part of its ongoing development plan to develop the sizeable and historically proven gold and silver potential held in its 431 square kilometer silver and gold project in Sonora, Mexico.