Category: Exploration and Development

Arco Resources Corp. announces that it has closed the sale of the Lachiguiri and Silacayoapan properties to Argentum Silver Corp. in accordance with a settlement and purchase agreement dated May 9, 2012 (see Arco’s news release dated May 10, 2012).

El Tigre Silver Corp. is pleased to provide an update report along with assays from the next three holes from the ongoing Gold Hill core drilling program at its 100% owned El Tigre silver project in Sonora, Mexico.

Coeur d’Alene Mines, the Idaho-based precious metals producer, on Wednesday said it did not believe an illegal strike at its Mexican Palmarejo mine would have a material impact on production.

American Consolidated Minerals Corp. is pleased to report that recent field work has identified a significant geophysical and geochemical anomaly comprising a target measuring approximately 1,400 metres in length at its 50%-owned Sierra Rosario Silver/Gold Property, located in Sinaloa State, Mexico.

Serengeti Resources Inc. announces results from the remaining 16 holes of a recently completed 19 hole reverse circulation drill program at the Victoria project, located in Southern Chihuahua State, Mexico. Drilling continued to demonstrate the presence of widespread poly-metallic (gold-silver-zinc+/-lead) mineralization at the Victoria project, which had previously been identified in holes 1 and 2 (see news release dated May 8th, 2012). Hole V13 intersected 1.95% Zn, 0.26% Pb, 0.07 g/t Au, and 5.1 g/t Ag over 24.0 metres. In addition, hole V16 intersected 1.0 g/t Au and 17 g/t Ag over 1.5 metres, and hole V9 intersected 5.31% Zn and 4.0 g/t Ag over a 3.0 metre interval.

International Northair Mines Ltd. is pleased to report that recent field work has identified a significant geophysical and geochemical anomaly comprising a target measuring approximately 1,400 metres in length at its 50% owned Sierra Rosario silver/gold project, located in Sinaloa State, Mexico.

Citation Resources Inc. is pleased to provide an update on its initial reconnaissance exploration program including stream sampling, rock chip sampling and geologic mapping of portions of its approximately 41,000 hectare Biricu Project situated in the Guerrero Gold Belt, Mexico.

Sierra Madre Developments Inc. and its partner Riverside Resources Inc. are pleased to announce that a new gold anomaly has been discovered less than 2 km south of the El Capitan gold zone currently being drilled (2,500 meter diamond core drill program) by Sierra Madre. This new epithermal gold area called the Pinchanzo zone has initial surface assay samples (21 samples) returning up to 2.38 g/t gold with 20 percent of the samples returning greater than 1 g/t gold. A follow up mapping and sampling program is now underway.

Mammoth Resources Corp. is pleased to report additional gold and silver results from its ongoing mapping, trenching and sampling program at the 290 square kilometre Urique Project, located in Chihuahua State, Mexico. The Urique Project is surrounded on three sides by Goldcorp’s El Sauzal gold mine to the south, Kimber Resources’ Monterde property to the north and Paramount Gold and Silver’s San Miguel project to the west (refer to Figure 1. Location of Mammoth Resources – Yale Resources Urique Joint Venture, Chihuahua State, Mexico). Work is being supervised by Mammoth Vice President Exploration, Richard Simpson, P. Geo, and is being carried out by Yale Resources geologists. Mammoth is optioning the Urique Project from Yale Resources (for terms of option agreement please refer to the Company’s news release dated February 24, 2012, available under the Company’s profile on www.sedar.com ).

Revolution Resources Corp. is pleased to report that the Company has advanced the exploration program after receiving high grade surface and underground sampling results at its La Bufa and Universo Properties in Mexico. High grade gold, silver and variable copper mineralization suggests multiple prospective epithermal targets and extensions to the historically producing Carmen Mine at La Bufa and the Cinco Estrellas Mine at Universo. Drilling is currently underway.