Category: Exploration and Development

SilverCrest Mines Inc. is pleased to provide an updated summary of its corporate mineral resources. The Company now has reported NI 43-101 compliant resources at the Santa Elena Mine, Cruz de Mayo property and La Joya property in Mexico (see table below). The addition of the initial La Joya Inferred Resources of 101.9 million ounces silver equivalent resulted in corporate Inferred Resources increasing by 424% from 24.0 million to 126.0 million silver equivalent ounces. The Company’s combined Probable and Indicated Resources (based on US$18 per ounce silver, US$1000 per ounce gold, and Ag:Au at 55:1) declined by 14.7% from 36.2 million to 30.9 million silver equivalent ounces as a result of production at the Santa Elena Mine in 2010 and 2011.

Copper Creek Gold Corp. is pleased to announce that the Company will soon commence a core drilling program on its Santa Lucia gold-silver project located 200 kilometres southeast of Hermosillo in Sonora, Mexico. Copper Creek may earn a 60% interest in Santa Lucia from Kootenay Gold Inc. (KTN-V) by spending $2,000,000.00 in exploration and making modest cash and share payments to Kootenay over a 4 year period. It is anticipated that drilling will begin in the second week of February, 2012.

Juanicipio: Preliminary 2012 Exploration Budget increased 89% over 2011 Preliminary Budget Cinco de Mayo: CM11-383 intersects 4.19 metres grading 183 g/t silver, 6.80% zinc and 12.3% lead

Catalyst Copper Corp. today announced an updated Measured plus Indicated Resource of 354.1 million tonnes grading 0.41% Cu; 0.043 g/t Au; 2.3 g/t Ag at its La Verde copper porphyry deposit in Michoacán State, Mexico. This represents a 71% increase in tonnage and 54% in contained copper over the previous resource released in January, 2011 (Table 1)

San Marco Resources has completed approximately 1625m of drilling at its 100% owned Tecomate property in Sinaloa State, Mexico. Exploration to date has focused on a 200 hectare area (Main Zone) of this 12,300 hectare property. The primary target area was the Los Hondidos Zone, where recent surface exploration indicated a 60 – 80m wide mineralized shear structure. This drill campaign is the first program to test the vertical extent of surface mineralization discovered by Company geologists over the last year. Tecomate is believed to be an intermediate sulphidation system, where gold, silver, zinc, copper and lead appear to be collectively important to potentially economic mineralization. Drilling in the Los Hondidos Zone indicates the shear structure is 80m wide, where drilling intersected it 80 -120m below surface. Three of five drill holes intersected significant mineralization in various parts of the structure. Preliminary analysis indicates a specific fault/feeder zone hosts higher grade mineralization which is flanked by parallel precious and base metal mineralization, and is open along strike and at depth. Drill intercepts are in oxide or mixed oxide/sulphide zones.

Guerrero Exploration Inc. is pleased to announce it has now successfully staked an additional 42,682 hectares of highly prospective land known as the Cibola property in the Guerrero Gold Belt.

Canasil Resources Inc. announces that in 2011 the Company completed exploration programs on 7 precious and base metal projects, 5 in Mexico and 2 in BC, Canada, including diamond drilling, airborne geophysical surveys, satellite imaging and geological mapping and sampling programs. Total expenditures by Canasil and partners in 2011 amounted to over $1.75 million. The 2012 exploration program has started with MAG Silver resuming drilling at the La Esperanza silver-lead-zinc project in Zacatecas, Mexico, to complete up to 5,000 metres of diamond drilling. Pan American Silver is also expecting approval of the drill permit for the Carina silver-gold-base metal project in Durango State, Mexico, and plans to start a drill program following receipt of the permit for up to 2,900 metres of diamond drilling. These drill programs will provide for an immediate start during this quarter to Canasil’s 2012 exploration activities.

Galore Resources Inc announces the acquisition of surface rights to 110 hectares of privately owned land known as Rancho Duraznillo that cover an important portion of the Dos Santos project Los Gemelos gold target.

Vista Gold Corp. is pleased to announce the results of its initial drilling program for the Guadalupe de los Reyes gold-silver project in Sinaloa, Mexico. In November 2011, Vista initiated an exploration drilling program on the project. With the results of the first 10 core holes, we have begun to achieve our objectives of:

Torex Gold Resources Inc. is pleased to report numerous high grade gold intercepts at its El Limon deposit. These step-out drill results extend the known mineralization to the east and west of the El Limon deposit and defined several areas requiring additional step-out drill testing, which will be conducted over the next four weeks. The 2011 drill program north of the Balsas River was extended into 2012 and is expected to be completed within the next four weeks. The very successful results of the 2011 drill program on all three known deposits north of the Balsas River will be combined with previous drill results to allow the preparation of new ‘North of the Balsas River’ resource estimates, which are expected to be completed in late March of this year.