Category: Exploration and Development

Golden Goliath Resource’s highly experienced exploration team has made great advances in defining the resource potential on the Company’s 100% owned Nopalera property in the Sierra Madre Gold-Silver Belt of northwestern Mexico.

SilverCrest Mines Inc. is pleased to announce the results of a further 16 holes of the Phase II drill program currently underway at its La Joya Property in Durango, Mexico. The Phase II program comprises an estimated 80 holes totaling approximately 15,000 metres. Phase II drilling to date has extended the Main Mineralized Trend an additional 500 meters to the northwest beyond the area of the current resource of 101.9 million ounces Ag Eq.(i) (see News release dated March 20, 2012). New results show the Trend expanding an additional 200 metres to the northeast and 100 metres to southwest with the average width increasing from 500 to approximately 700 metres along a strike length of 2,500 metres.

Windstorm Resources Inc. after reviewing the results of its exploration activities on the Escondida gold-silver property in San Luis Potosi, Mexico, has decided to give notice and has terminated its option to acquire an interest in the property.

Southridge Enterprises Inc. is pleased to announce that it has expanded its previously announced exploration program on February 13, 2012, to include the additional 80% unexplored portion of the known vein system at Cinco Minas.

Silver Sun Resource Corp. is pleased to provide an update on its mining activities at the Cherry Hill gold mine in Yreka, California as well as continued exploration work programs at the Yoreme project in Sonora State, Mexico and Zacatecas project in Zacatecas State, Mexico.

Torex Gold Resources Inc. is pleased to announce an updated National Instrument 43-101 compliant measured and indicated mineral resource estimate of 4.8 million ounces of gold at its 100% owned Morelos Gold Project in Mexico.

• A 500 meter underground drilling program commences at Cerro del Oro gold project
• Initial 2,500 meter minimum surface diamond drill program planned for summer 2012
• Both programs are expected provide a near term assessment of the resource potential of the 500 meter by 500 meter core area of the project

Minaurum Gold Inc. is pleased to report that Ocean Park Ventures Corp has released significant copper-gold-silver intercepts from the first two holes of their Phase 1 drilling program on Minaurum’s Adelita Project (see Ocean Park news release dated May 3, 2012). Ocean Park’s best hole (CGDD-12-009) cut 105.2 metres of 1.03% copper from 5.6 to 110.8 metres downhole, including 41.9 m of 2.21% copper, 0.93 g/t gold, and 77.5 g/t silver. Notably, this hole was lost in mineralization and assays are pending for the three subsequent holes drilled deeper in this area. The results extend the Cerro Grande zone to a strike length of 120 metres and to a depth of 300 metres from surface, with the discovery remaining open in all directions. Ocean Park can earn up to a 75% interest in the Adelita Project by completing and funding a feasibility study.

Kootenay Silver Inc. and Copper Creek Gold Corp. are pleased to announce results from a recently completed diamond drilling program on its Santa Lucia project in Sonora, Mexico. Copper Creek has an option to earn a 60% interest in the project from Kootenay Silver Inc. by spending $2 million and making cash and share payments over a 4 year period. The property is situated approximately 200km southeast of Hermosillo, Mexico.

Soltoro Ltd. has entered into an Option Agreement with Gold Reserve Inc. whereby Soltoro grants Gold Reserve the right to earn an undivided 51% interest in the La Tortuga property located in Jalisco State, Mexico.