Category: Exploration and Development

Bearing Resources Ltd. announces results from its 1,172 metre (7 hole) diamond drill program at the Parrandera gold-copper property located in the Mapimi region of Durango, Mexico. The Parrandera property was the initial and smallest property optioned when establishing the Mapimi project (40,000 hectares). The drill program was highlighted by drill hole PA12-01 which returned 12.95 metres grading 0.858 grams per tonne (g/t) gold beginning at a down hole depth of 16.3 metres. While the drill program identified gold and copper mineralization over narrow intercepts, the results did not meet Bearing’s exploration target criteria therefore the Parrandera property will be returned to the property vendors.

International Northair Mines Ltd. is pleased to announce that Focus Ventures Ltd. has reported to Northair that an exploration program has commenced at the Company’s El Reventon Property located in the State of Durango, Mexico.

NWM Mining Corporation is pleased to report exploration drill results from its wholly owned Lluvia-Jojoba gold mining project in northern Sonora, Mexico. Twenty new percussion drill holes (for 612 meters) have intersected gold mineralization on the east flank of the Gold Ridge geochemical anomaly, 900 meters west of the main mining area at the Lluvia deposit Creston Pit. These drill holes expand the lateral distribution of gold mineralization identified from percussion holes previously drilled into this structure, and define three targets for follow-up. The new drill holes, drilled to 30.6 meters depth, returned weighted average gold grades up to 0.411 g Au/tonne, and higher grade intervals up to 0.626 g Au/tonne over intervals of 15.2 meters. Individual assays up to 2.38 g/t Au were also encountered (Average gold grades for existing reserves at Lluvia de Oro are 0.50 g/t with a cut-off gold grade of 0.20 g/t). Highlights of the Gold Ridge drill results are set forth in the table below.

Urastar Gold Corp. is pleased to provide an update on drilling results at the El Antimonio property located in Sonora State, Mexico.

Focus Ventures Ltd. is pleased to announce that it has commenced exploration at its recently acquired 4,430 hectare El Reventon property, Durango, Mexico.

Cayden Resources Inc. is pleased to announce that it has mobilized a reverse circulation drill rig and commenced drilling at its La Magnetita target on its 100% owned Morelos Sur Gold Project in Guerrero State, Mexico. The drill program will test the depth extensions of 24-58 meter long + 0.5 g/t Au trench intercepts (see previous NR’s dated March 5, 2012 and May 31, 2012). The area from which trench results have been received covers approximately 20% of the initial 5 km long, strong gold in soil anomaly (see NR dated May 16, 2012). Cayden has several assays in the lab from new trenches, which will likely provide additional targets in the near future.

Tara Minerals Corp. is pleased to announce that its subsidiary, Adit Resources Corp, has entered into an agreement for the sale of American Copper Mining S.A. de C.V., the holder of Adit’s Picacho group of concessions, to Yamana Mexico Holdings B.V., a subsidiary of Yamana Gold Inc.

Evrim Resources Corp. is pleased to announce that it has signed an option agreement with Inmet Mining Corporation on the Company’s Cardelena copper porphyry project in Sonora, Mexico. Inmet may acquire a 60% interest by conducting C$4,000,000 in exploration and making cash payments totalling C$80,000 over a six-year period.

McEwen Mining Inc. is pleased to announce an updated resource estimate for the El Gallo Complex in Sinaloa State, Mexico, where Phase 1 production is scheduled to begin during the Third Quarter. New drilling by McEwen Mining from November 2010 to April 2012 (approximately 100,000 meters) has increased the level of confidence associated with the mineralization and increased the size of the resource. This update reports both global and in-pit resources. The updated resource estimates were generated using a silver and gold price of US$28.50 and US$1,500 per ounce, respectively.

Mercedes, Mexico – New discovery at Barrancas where drilling has intersected mineralization approximately 600 metres north of Lagunas Norte. Infill drilling at Lupita is confirming the width and grades of mineralization and is expected to continue growth of the measured and indicated mineral resources.