Category: Exploration and Development

Mr. Thomas Skimming, CEO of MacMillan Minerals Inc., is pleased to announce that the Company has commenced a diamond drilling program on the La Raizura Target at the Las Cucharas Gold and Silver Project. Mr. William Hamilton, P. Geo., Manager of Exploration, is a Qualified Person under the meaning of National Instrument 43-101 and is responsible for all technical information contained in this news release.

Excalibur Resources Ltd. is pleased to provide an update on the progress towards production in its 49% subsidiary, Minera Catanava S.A. de C.V. The land use environmental permit received in November 2011 allowed the construction and installation of the plant. The ball mill, jaw and cone crushers and ore bins were installed in December. The conveyors, belts and motors were delivered, installed and tested in January-March and all are operational. In April, 100 tons of dump material was loaded into the raw ore storage bin and 50 tons was crushed to 1/4 inch material into the fine ore hopper that is being batch tested on the three recently installed Action Mining Micron Wave tables. The material is being tested by increasing the size of the batches in order to optimize the flow, the grind and the gold recoveries. Various adjustments have been made including installing feeders for the wave tables and a holding tank.

Chesapeake Gold Corp. wishes to report on the current status of the pre-feasibility study of its 100% owned Metates project located in Durango State, Mexico. One of the largest undeveloped gold-silver projects in the Americas, Metates contains a NI43-101 measured and indicated resource of 1.18 billion tonnes at a grade of 0.50 g/t gold and 13.7 g/t silver containing 19.0 million ounces gold and 519 million ounces silver together with 4.2 billion pounds of zinc (see NR2-2012 dated February 16, 2012).

Mexico’s government says it will protect a half-million acres held sacred by the Huichol Indian tribe that inspired a protest movement against a Canadian company’s silver-mining concessions in the northern desert.

Precious metals producer Coeur d’Alene Mines said on Thursday production has restarted at its Palmarejo mine in Mexico, following a work stoppage that started at the weekend.

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.

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).

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.