Category: Exploration and Development

Southern Silver Exploration Corp. reported today that drilling on the Cerro Las Minitas project, located in Durango State, Mexico, continues to extend laterally and to depth, projections of the known mineralized structures at both the Blind Zone and El Sol deposits.

Paramount Gold and Silver Corp. today reported outstanding new assays from the southward extension of the high-grade La Union zone which could have major consequences for its 100%-owned San Miguel Project in Mexico.

Cangold Limited is pleased to announce that field work has commenced on the Plomo gold project in northern Sonora, Mexico. The Plomo Project has five gold zones associated with low angle faulting within a one by five kilometre area. Geological mapping and detailed surface rock sampling are being carried out to locate and delineate complex structural zones and associated low grade bulk tonnage gold mineralization for follow-up drill testing. Both northwest and northeast trending structures on the property have been shown to be mineralized and the areas where the two intersect are a priority for detailed field work.

International Northair Mines Ltd. is pleased to announce the assay results from five additional core holes completed at its La Cigarra silver project, located in north central Mexico. Two holes were completed within a previously untested area between the San Gregorio and Las Carolinas zones and three holes are from in-fill drilling within the Las Carolinas Zone.

Catalyst Copper Corp. is pleased to announce results from the first five (5) diamond drill holes from its 2012 program at the La Verde copper porphyry project in Michoacán state, Mexico.

Scorpio Mining Corporation reports final results from the recently completed 4,068 meter Phase I drill program at its 100% owned La Revancha Project, Chihuahua State, Mexico.

Aura Silver Resources Inc. is pleased to announce that the Aura Silver / Intrepid Mines Ltd. joint venture and Pan American Silver Corp. have entered into a new agreement which supersedes the prior option agreement with respect to the East Taviche, West Taviche and Alma Delia concessions comprising the Taviche project in Oaxaca, Mexico. Under the terms of the new agreement the Taviche JV acquires a full 100% ownership interest in both the East Taviche and Alma Delia concessions while Pan Am retains a 100% ownership position in the West Taviche concession. The Taviche JV will be entitled to receive a cash payment of US $2.0 million, dependent on certain sale or disposition transactions undertaken by Pan Am in excess of a 70% interest with respect to the West Taviche property. Pan Am has also refunded the final earn-in payment of US $250,000 paid in September 2011. Additionally, the Taviche JV has granted Pan Am a 1.5% net smelter royalty (“NSR”) as well as a right of first offer (“ROFO”) on all of the East Taviche and Alma Delia concessions based on certain terms and conditions.

Cerro Resources NL is pleased to advise that further drill results from the Namiquipa Silver Project, in Chihuahua, Mexico, confirm considerable silver/lead/zinc mineralization extending 200m North of the historic La Venturosa mine workings.

Under the terms of the settlement, NWM will pay BioteQ Environmental Technologies Inc. $1.3 million in cash over two years; BioteQ will retain ownership of the treatment plant and will demobilize it from NWM’s site. The initial $200,000 payment by NWM has been made. A second payment of $400,000 is due April 30, 2013. The final $700,000 is due April 30, 2014. In the event that NWM sells or transfers all, or substantially all, of its assets, the payments become due immediately and payable upon demand by BioteQ.

Lincoln Mining Corporation reports that in December 2011 it completed 5,091.3 m of core drilling in 20 angle holes at its 100% owned La Bufa property in Chihuahua State, Mexico. The property is located in the Guadalupe y Calvo mining district which encompasses a large, northeast-trending epithermal gold-silver system. Gold-silver mineralization is hosted in quartz-breccia veins and stockworks that are localized in a complex zone of high-angle structures. Core drilling focused on two target areas which were defined by geologic mapping, surface sampling, and geophysics. Drilling commenced in mid July 2011 and was completed in early December. Core recovery was excellent. All assays have been received. Drill hole intercepts reported here are apparent and do not represent true thicknesses.