Category: Exploration and Development

The program of Reverse Circulation drilling has 30 initial holes planned for testing five prospective new zones (Target Areas 1 through 5) as outlined through the Company’s recent geophysical and surface sampling programs. Additional holes may be targeted based on assay results received during the initial drilling phase. Drilling has started within Target Area #3, where the Company recently reported a high concentration of elevated gold and silver values in rock samples within an area measuring 1,800 metres (“m”) by 600m located near the project’s proposed mill site. Individual assays up to 6.88 grams per tonne (“g/t”) gold over 2.0m and 433 g/t silver over 1.6m were sampled within Target Area #3, as previously announced (see news release dated June 13, 2012 and/or the Company’s website at www.geologix.ca for more details).

Two Delaware courts have upheld that Grupo Mexico basically took its Southern Copper Corporation subsidiary to the cleaners when SCC bought Minera Mexico from its corporate parent.

Aurcana Corporation is pleased to announce an updated resource estimate for La Negra Mine, the Company’s silver, zinc, lead, and copper mining operation in the State of Queretaro, Mexico.

Pacific Comox Resources Ltd. reports that the access road for the Mabel gold/silver project in northern Sonora State, Mexico is being upgraded in preparation to start construction of the pad for the test heap leach of the drill intersected mineralization on the Carmelitas Zone. The environmental and land clearing permits for the pad have been completed.

Almaden Minerals Ltd. is pleased to announce further results from the on-going exploration drill program at the Company’s 100% owned Tuligtic project, Mexico with holes TU-12-160, 163, 167, 171, 172, 177, 182, 183, 185 and 187. Apart from hole TU-12-172, all holes reported today are from sections 10+150 and 10+200 at the extreme southwest end of the known mineralisation. The intersections reported today from both these sections indicate that significant mineralisation exists in volcanic rocks in this area. Hole TU-12-172 was drilled on section 10+450 into the Main Ixtaca Zone.

Mapping by Ocean Park has discovered mineralized skarn on the new claim with copper mineralization that is visually similar to that drilled at Cerro Grande. Assay results from this new skarn, the “Andalucia” zone, are pending. At this time, the skarn has been exposed in a series of trenches across 75 metres of strike in an area of limited bedrock exposure. As at Cerro Grande, the skarn is developed at the contact between the same granodiorite intrusion to the east and metasediments and metavolcanics to the west, with a strong structural control. The new zone is 2.5 kilometres south of previous drilling and indicates the mineralized intrusive-sediment contact has multi-kilometre, multi-zone potential.

A miner lost his life on Sunday at Coeur d’Alene Mines’ Palmajero silver/gold mine, in Mexico while performing maintenance work on surface equipment.

Una mayoría de tetelenses confirmó este domingo su rechazo absoluto el proyecto de Minera Frisco, propiedad de Carlos Slim, que pretende instalar una explotación a cielo abierto para la producción de oro en la región de La Cañada, y ha hecho un llamado a la construcción de un programa de desarrollo regional sustentable e integral alternativo a la mega minería.

Mundoro Capital Inc. announces the filing of the Company’s financial results for the quarter ended June 30, 2012. The highlights provided in this release should be read in conjunction with the Company’s quarterly financial statements and Management Discussion and Analysis, which are available on SEDAR at www.sedar.com. All dollar amounts are in U.S. dollars unless otherwise stated.

Orex Minerals Inc. in conjunction with their project partner Fresnillo PLC have commenced the Phase-II 12,000 metres diamond drilling program on their Coneto Silver-Gold Project in Durango, Mexico. A joint technical committee, with both Orex and Fresnillo representation, will manage the Coneto project.