Category: Exploration and Development

Excellon Resources Inc. Mexico’s highest grade silver producer, is pleased to report assay results for seven new drill holes. Of the seven holes, six were directed to the search for additional massive sulphide manto mineralization. Five were drilled west of the northwest corner of the 6A Manto and one was drilled immediately north of the northwest extremity of the Guadalupe Manto. The seventh was drilled in the Rincón del Caído area 1.0 km northwest of the La Platosa Mine to further the search for the large-tonnage proximal source of the massive sulphide mantos.

Oro Mining Ltd. is pleased to announce that the engineering work associated with its Taunus deposit in Sinaloa, Mexico is proceeding as planned.

Pacific Cascade Minerals Inc. is pleased to report further drill results from its Phase One exploration program on the El Centenario Project, Durango, Mexico. The first phase of exploration has targeted the La Esperanza silver, zinc, and lead mineralized structural zone.

Golden Fame Resources Corp. reports that it has received the results of fourteen additional diamond drill holes from their on-going diamond drill program at the Algun Dia multi-element, epithermal vein prospect located near the city of Guanajuato, in the State of Guanajuato, Mexico.

San Marco Resources Inc. has acquired by staking, 156 sq. km of highly prospective land (Los Carlos II) adjacent to the Company’s 100% optioned Los Carlos property, where drilling is currently testing the western portion of one of 4 known gold/silver surface occurrences. The Los Carlos II property (15,600 ha.) is located in the prolific “Megashear” in Sonora State, Mexico. Goldgroups Sierra Colorado mine is located 18km to the northwest and Timmins Gold’s San Francisco mine is 85 km to the east.

Goldgroup Mining Inc. is pleased to announce initial positive results from a Preliminary Economic Assessment for the Company’s 100%-owned Caballo Blanco gold project located in the State of Veracruz, Mexico. Based on the PEA, the Caballo Blanco project is expected to generate a 66.4% pre-tax internal rate of return (“IRR”) and a US$283.8 million pre-tax net present value (“NPV”) at a 5% discount rate, over an approximate 7.5-year mine life and produce 687,000 ounces of gold and 1.3 million ounces of silver, based on the current mineable resource determined from the Whittle optimization model. A technical report entitled “Minera Cardel Resource Corp. — Caballo Blanco Gold Heap Leach Preliminary Economic Assessment” will be completed within 45 days and will be filed on SEDAR and the Company’s website.

International Northair Mines Ltd. is pleased to announce assay results from five core drill holes completed in the San Gregorio Zone and one hole completed in the Las Carolinas Zone at its La Cigarra silver project, located in north central Mexico.

Riverside Resources Inc. and partner Mexigold Corp. are pleased to report the recent completion of drilling at the Pedernal Gold Project in Durango, Mexico, which intersected the upper part of a gold-bearing epithermal vein system. An initial seven holes were drilled, totaling 1,549 metres, to test three of the eight vein zones identified thus far through geologic prospecting, detailed mapping, soil sampling, ground geophysics and trenching on the property. The drilling has demonstrated favorable indications for both vein and potentially larger bulk tonnage mineralization styles. This was the first known drill program on Pedernal, and covered less than 10% of the 23,716 hectare mineral concession. Follow-up exploration can now take place to test additional target zones on the property, including expanding the Milpa target zone which has given the best gold-silver results so far.

Argentum Silver Corp. announces the completion of the first phase of the diamond-drilling program at its Coyote property, located in Jalisco Mexico. A total of 25 holes totaling 2,686 metres were drilled on the four identified vein zones: 11 holes on the El Tajo zone, 7 holes on the La Florida zone, 4 holes on the Bocancha zone and 3 holes on the La Colorada zone. The Company’s original drill program called for 19 holes to be drilled, however, the high-grades intercepted in hole 2012-3, which included 2.0 metres of 2,745 g/t silver (Ag), and in hole 2012-7, which included 1.2 metres of 1,645 g/t Ag, encouraged the company to increase the number of holes drilled to 25. Results from the first seven holes were announced by news releases dated February 29 and March 6, 2012. Argentum is currently awaiting assay results from the remaining 18 holes.

NWM Mining Corporation is pleased to provide an operational update for the first quarter of 2012, and to announce the declaration of commercial production at the Lluvia-Jojoba gold mine. The mine is now commissioned and cash-flow positive, and a ramp up of throughput is expected to continue in accordance with 2012 mine operating plans.