Category: Exploration and Development

Chesapeake Gold Corp. wishes to report on the current status of the pre-feasibility study on its 100% owned Metates project located in Durango State, Mexico. In support of the PFS, Chesapeake recently announced a new NI43-101 compliant resource for Metates (see NR2-2012) which estimates the project contains a total of 19.0 million ounces gold and 519 million ounces silver (Measured + Indicated), making it one of the largest undeveloped precious metal resources in the Americas.

VANCOUVER, BRITISH COLUMBIA — (Marketwire) — 03/06/12 — Defiance Silver Corp (“Defiance”) (TSX VENTURE:DEF) is pleased to announce that it has made the first payment in its option agreement with IMPACT Silver Corp (“IMPACT”) to acquire the Santa Gabriela 200tpd processing plant. Defiance has the option to purchase the Santa Gabriela processing plant in the historic Zacatecas Silver District from IMPACT in return for the payment of 2,680,500 Defiance common shares and a the payment of $1,955,200 payable within two years of the signing of the option agreement or upon commercial production.

Scorpio Mining Corporation is pleased to report additional positive drill results from its San Rafael Development Project, favorably located only 19 kilometers by road from the Nuestra Señora processing facility in the Cosalá Mining District, Sinaloa State, Mexico.

Creso Exploration Inc. is pleased to announce it has received conditional approval of the TSX Venture Exchange for the acquisition of a 50% interest in the Zamora/Campanillas mining projects located in Sinaloa, Mexico and an option on the remaining 50%.

Guerrero Exploration Inc. is pleased to announce that it has applied for the 86,205 Ha Olinalá property in Guerrero state, Mexico, centered 100 km east of the State capital, Chilpancingo de los Bravo, and 187 km SE of Mexico City. It is located immediately south of Cerro Dolores, a polymetallic project owned by Goldcorp that was optioned to Starcore International Mines in 2008 (Starcore International Mines Ltd., MDA 31 January 2008). The Olinalá application area overlaps two volcanic belts that are considered prospective for volcanogenic massive sulfide deposits.

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.