Category: Exploration and Development

Pan American Goldfields Ltd. is pleased to announce that work on the Cieneguita project NI43-101 compliant Preliminary Economic Assessment is on schedule for its expected completion in the second quarter of 2012. The PEA was started in October 2011 and the primary consultant is M3 Engineering and Technology based in Tucson, Arizona.

Kootenay Gold Inc. is pleased to announce assay results from an additional 20 drill holes from its 25,000 meter, ongoing, multi-phase, step out drill and resource definition program on its Promontorio Silver Project in Sonora, Mexico.

Solitario Exploration & Royalty Corp. announces that significant high-grade silver-gold mineralization was intersected in drilling on its Pachuca Real property in central Mexico. Highlights include drill hole PAN11-28 that intersected 1.05 meters grading 16.4 gpt gold and 239 gpt silver, PAN11-27 with 0.60 meters grading 5.6 gpt gold and 837 gpt silver, and PAN11-31 with 0.85 meters grading 8.4 gpt gold and 283 gpt silver.

Bradford Cooke, Chairman and CEO of Endeavour Silver Corp. is pleased to announce that the Company has initiated two $500,000, 5 year scholarship programs for the Earth Sciences at The University of British Columbia in Vancouver, BC and Queens University in Kingston, ON.

Oroco Resource Corp. is pleased to announce the acquisition of three separate mineral concessions, Elba, Huerto de Oro and Reyna de Plata. These concessions will provide additional exploration targets to Oroco’s Cerro Prieto Project.

WestStar Resources Corp. has commenced an Induced Polarization/Resistivity survey on its La Paloma property. The Property is located approximately 70 kilometers west of the city of Guadalajara in the State of Jalisco, Mexico. The Property is a past producing gold and silver mine with numerous drill targets identified. All the work completed by WestStar has confirmed the presence of gold and silver mineralization on the Property. The IP is the last step in making the Property drill ready to test the extent of the mineralized zones. The Induced Polarity survey is being conducted by Discovery International Geophysics based in Surrey, British Columbia.

Mercator Minerals Ltd. is pleased to provide an update on activities at its wholly owned El Pilar project. On January 12, 2012, the Company’s subsidiary which holds the El Pilar project, made the final payment for the change of land use permit which allows mining to commence. Also, over the past few months, the final water concessions have been obtained, which along with the previously granted mineral concessions, surface rights, and construction permit, allows for the commencement of construction and mining operations at the El Pilar project. Detailed engineering, environmental studies and right of way on the power transmission line and access road have also been advanced. Detailed engineering work continues with major equipment sourcing and construction bid materials being prepared.

Geologix Explorations Inc. is pleased to announce the results of the remaining South Zone drill assays from the recently completed resource expansion and infill drilling program at its 100% owned Tepal property in Michoacán state, Mexico. Results from the last 17 holes from a total of 37 holes drilled at the South Zone have now been received.

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

Cream Minerals Ltd. is pleased to provide results for the remaining two exploration drill holes on Once Bocas South. The Once Bocas South zone is a new area of silver and gold mineralization associated with quartz veins and quartz stock work zones. Once Bocas South is thought to be a displaced segment of Once Bocas North and it is not included in the current NI 43-101 Inferred Mineral Resource. Results of the first four holes were released on November 10, 2011.