Category: Exploration and Development

Source Exploration Corp. is pleased to announce that its wholly owned Mexican Subsidiary Roca Verde Exploration de Mexico has signed an option agreement with Empresa Minera Caprice, JC, S.A. de C.V. to acquire up to a 100% interest in its Capricho mineral exploration concessions located in Sinaloa, Mexico. The terms of the option agreement were detailed in a previous press release dated November 9, 2011. Drilling prospective high grade targets is scheduled to commence in January.

Timmins Gold Corp. is pleased to report preliminary production results for the Company’s third quarter and year ended December 31, 2011. The Company achieved record gold production of 21,524 gold ounces for the quarter, including a record month of 8,504 ounces of gold production for the month of December, 2011. The Company is pleased to report that the recovery ratio in December, 2011 was 76%. The recovery ratio for the period October 1, 2011 to December 31, 2011 was 65%, up from 55% in the same period last year. The recovery ratio is defined as the ratio of gold ounces produced divided by the number of contained gold ounces stacked over a specific period.

Endeavour Silver Corp. announced today record-setting silver and gold production from the Company’s two operating silver mines in Mexico, the Guanacevi Mine in Durango State and the Guanajuato Mine in Guanajuato State for the Fourth Quarter, 2011.

Fortunate Sun Mining Company Ltd. is pleased to announce that the Camacho and Pirelli projects 100% owned by the Company have been returned to Fortunate Sun by Kinross Gold’s Mexican Subsidiary, KG Exploracion Mexico S.A de C.V. effective today, as Kinross has elected to terminate the options.

Aurion Resources Ltd. is pleased to announce the signing of a Letter of Intent with Golden Minerals Company whereby Aurion will have the right to earn a 100% interest in the El Teyra and Rubi-Esmeralda gold projects in Mexico as further described below. The acquisition is subject to exchange approval.

Cangold Limited is pleased to provide a progress report on the initial steps being taken in advancing the Ixhuatan Gold Project in Chiapas, Mexico through to feasibility study and on its other projects. Cangold is earning a 75% interest in the Ixhuatan project through its own wholly-owned Mexican subsidiary, Coboro Minerales de Mexico, S.A. de C.V.

AuRico Gold Inc. is pleased to provide highlights of the 2011 exploration programs completed at the Company’s expanded asset base in Canada , Mexico and Australia . The Company expects to release a company-wide reserve and resource update in the first quarter of 2012.

United States Antimony Corporation reported that the flotation mill in Guanajuato, Mexico has been completed and is ready for production. To start milling operations, dump rock was hauled from older workings at the Los Juarez antimony/silver/gold property in Queretaro, Mexico. Six samples were taken on a regular basis from approximately 19 truckloads or 420 metric tons from dump rock from an open pit called “Minas Grande.” The significance of this dump is that it was mined to a depth of 40 meters indicating that the deposit is not just a layered, “Manto”, deposit of 5 meters thickness.

Goldgroup Mining Inc. announces that the technical report on the updated mineral resource estimate on the San José de Gracia project titled “NI 43-101 Technical Report on the San José de Gracia Project – Updated Resources Estimates on the Tres Amigos, San Pablo, La Union, La Purisina Zones – Northeast Sinaloa, Mexico” effective September 5, 2011 and dated January 3, 2012, has been filed on SEDAR in compliance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects requirements. This filing is further to the Company’s previously announced updated mineral resource estimate on November 23, 2011.

Prospero Silver Corp. is pleased to announce the acquisition (through staking) of an additional 9,771 hectares in the Santa Maria del Oro gold/silver district. The new ground lies to the west, south and east of the historic, high-grade Magistral vein system. With this addition, Prospero holds 16,124 hectares that virtually surround the historic Magistral del Oro mines, records for which indicate historic grades exceeded 15 g/t Au from oxides ores mined through the mid 20th century.