Category: Exploration and Development

Canasil Resources Inc. announces that Pan American Silver Corp. (Pan American TSX: PAA) has completed an initial Phase 1 diamond drill program at the Carina silver-gold project in Durango State, Mexico. The drill program consisted of 6 drill holes for a total depth of 1,008 metres, as part of an overall planned program of up to 14 drill holes for a total depth of up to 2,910 metres. Canasil’s Carina project is subject to an option agreement providing for Pan American to earn a majority interest through staged exploration expenditures and cash payments over four years.

Soltoro Ltd. has completed 22 trenches in the newly identified Piedras Amarillas zone on the El Rayo primary silver project. A third drill rig is being mobilized to carry out an initial 11 hole program to test the trenched area. Piedras Amarillas consists of three sub-parallel soil anomalies located approximately 1.5 kilometres east of the Las Bolas deposit. The soil anomalies range from 300 metres to 800 metres in length and 50 metres to 150 metres in width. The anomalies occur along a recently identified magnetic structure similar in orientation to the Las Bolas deposit. Piedras Amarillas has never been drill tested nor has any production been recorded from the area.

Excellon Resources Inc. Mexico’s highest grade silver producer, is pleased to report February 2012 production results from its La Platosa operations in Durango State, Mexico. The Company is also pleased to announce updates on Operations, Mexican and Canadian exploration.

Lone Star Gold, Inc. is pleased to announce the Company has decided to construct a basic wash plant and jig circuit on the San Antonio del Potrero mine tailings project property, which is located near the city of Hidalgo Del Parral in the state of Chihuahua, Mexico. The option to build an on-site wash plant was chosen after evaluating several scenarios intended to create the most efficient system for processing the Tailings Project’s 1.2 million tons of mine tailings.

Cayden Resources Inc. is pleased to announce that it has received initial results from drilling at the Las Calles target at the Morelos Sur Gold project. The Company has also received its first trench results from the La Magnetita target, as well as additional trench results from the La Joya target. The drilling highlight at Las Calles includes 14 meters of 4.2 g/t Au (LCDD0093), which occurs in an extremely fractured and iron oxide-rich diorite sill. Additional drill holes have been completed and are awaiting assay. The initial results indicate the potential for a deeper, lateral extension of the ore body currently being mined by Desarrollos Mineros San Luis (DMSL), a subsidiary of Goldcorp, at the Los Filos mine. Drill hole locations are shown at www.caydenresources.com . Cayden is continuing its Las Calles drilling with the two existing drills. The Company is also adding another core drill and a reverse circulation (RC) drill to perform some pre-collar drilling in some areas of particularly broken ground.

Paramount Gold and Silver Corp. reported today that new drilling has found higher gold grades at the San Francisco target on its 100%-owned San Miguel Project in Mexico. Eight new holes in the northern and western portions of the San Francisco deposit have returned: (a) higher-grade mineralization up to 27.1 g/T of gold and 24.0 g/T of silver; and (b) near surface, wide intercepts including 23.6 meters grading 1.51 g/T of gold and 11.9 g/T of silver, confirming the bulk tonnage nature of this deposit. Drilling continues at the San Miguel Project with three core rigs.

Scorpio Mining Corporation (TSX: SPM) is pleased to announce the initial results from the ongoing drill program on its 100% owned La Revancha Project, Chihuahua State, Mexico.

Highlights include:

Revolution Resources Corp. is pleased to report that the Company is continuing to advance its exploration programs at the Universo and La Bufa Properties. The Properties are located in two of Mexico’s most prolific Mineral Belts and are in close proximity to several operating mines.

VANCOUVER, BRITISH COLUMBIA–(Marketwire – March 2, 2012) – Prospero Silver Corp. (TSX VENTURE:PSL) (“Prospero” or the “Company”) is pleased to announce the acquisition (through staking) of an additional 19,272 hectares in the Santa Maria del Oro gold/silver district. The new ground lies to the northeast and east of the historic, high-grade gold Magistral vein system. With this addition, Prospero holds a total of approximately 33,000 hectares that surround the historic Magistral del Oro mines, records from which indicate oxide ore mined at an average grade exceeding 15 g/t Au through the mid-20th century. The project claims are located in Durango state, 220km NW of Durango City, and 20km west of Indé.

VANCOUVER, March 1, 2012 /PRNewswire/ -VICTORY RESOURCES CORPORATION (the “Company”) is pleased to announce that it has received assay results of preliminary sampling of material from the old tailings pond from the La Reforma mine located north of Choix, Sinaloa State, Mexico. The method of sampling the results are shown in Table 1.