Category: Exploration and Development

Riverside Resources Inc. is pleased to provide an exploration update on partner funded drilling and exploration. The Company delivered strong deal flow in 2011 signing five different option agreements with other junior partners. Riverside and its partners were busy completing four separate drill programs during the second half of the year and are currently drilling a fifth project. The Company continues to generate and advance quality exploration prospects and will aim to deliver multiple partner funded drill programs in 2012. Recently completed drill programs along with exploration updates are summarized below.

Silver Scott Mines Inc. is pleased to announce the execution of a 10 year extendable surface land agreement for exploration within more than 4000 hectares held by the company, and within which up to 100 hectares is permitted with high impact work including mining. The agreement that was recently completed allows the mining activities within the 100 hectare tract in mineral concessions held by the company. The community vote was unanimous in favor of the proposal which included a .7 of 1 percent production royalty and a 5 year review process with the community. This completed agreement allows the company to move forward with drilling of the gold bearing oxidized mineralized zone and further detailed assessment of production with a technical report in 2012. In addition the concession application announced in Sept. 30, 2011, was recently granted two concession titles totaling 11,563 has. of the 12,000 application.

Mexigold Corp. and its Joint Venture Partner (and operator) Riverside Resources Inc. are pleased to provide an update on the ongoing diamond drill program at the Catrina property, located in Durango State, Mexico. The drilling contract was awarded to Major Drilling of Hermosillo, Mexico. Drilling commenced on November 18th and to-date 5 holes have been completed. The drill is currently sitting on the 6th hole of the planned 8-hole drill program. Work has been temporarily halted to allow the exploration crew to take a short scheduled break for the Christmas season. Drilling will resume in January 2012.

Soltoro Ltd. has received an in pit measured and indicated resource estimate of 77.4 million ounces silver on its 100% owned El Rayo silver project in the State of Jalisco, Mexico. The NI 43-101 compliant Mineral Resource was estimated by Roscoe Postle Associates Inc. and includes an updated estimate for the Las Bolas and Highway Zone structures and an initial estimate for the La Soledad structure. La Soledad is a newly discovered deposit where drilling is ongoing with the objective of extending silver mineralization along strike and at depth. To date the Company has only tested a 600 metre section of the La Soledad structure where an associated series of airborne magnetic anomalies has been traced for over six kilometres. The current resource does not include any estimate for the La Catarina mine area where seven holes were recently completed to confirm a historic resource.

Oremex Silver Inc. is pleased to announce that its’ wholly owned Mexican subsidiary, Minera Mantos S. de R.L. de C.V., has entered into a letter agreement to acquire the Navidad Group concessions. The Navidad Group consists of four exploration concessions totaling 392.53 hectares in the Chalchihuites district and adjacent to Oremex’s Chalchihuites silver project (Figure 1).

“The material economic improvement resulting from our recent acquisition of the Potreritos project requires an adjustment to our schedule in order to accommodate its additional resources into the pre-feasibility study,” said Chris Frostad, President and CEO, Virgin Metals Inc.

Indicated Resources: 6.2 million tonnes containing 146 million ounces of silver grading 728 g/t silver
Inferred Resources: 7.1 million tonnes containing 85 million ounces of silver grading 373 g/t silver

Avino is pleased to announce the sale of all its remaining copper concentrate produced in 2011 from stockpiles of material left from previous mining of the Avino Vein located on Avino’s property near Durango, Mexico. The concentrate grades approximately 2.2kg/t silver and 25g/t gold.

ABOT Mining Co., a U.S.-based mining company engaged in the discovery, acquisition, development, production and marketing of precious and semi-precious metal properties, on Friday announced that it formulated an agreement with Rising Star S.A. de C.V., a Mexico-based company, under which it will acquire a 50% equity interest in Rising Star’s Mexican mineral property, the Aztlan 8B Project.

Camino Minerals Corporation reports that it has received final assay results from the remaining 19 holes at its 100% owned Rodeo Gold Project, located in Durango State, Mexico, with hole RO-11-026 returning 1.06 g/t Au and 13.00 g/t Ag over 102.25 metres, including 2.58 g/t Au and 5.00 g/t Ag over 19.15 metres.