Category: Exploration and Development

Torex Gold Resources Inc. (TXG.TO) is up more than 11% this morning at $1.57 a share and the miner saying it has signed a 30-year lease agreement for 507 hectares of land to be used for construction, mining and gold processing at its Morelos gold project in Guerrero State, Mexico.

Silver Scott Mines, Inc. is pleased to announce the completion of a 6 year extendable surface land agreement for exploration within the 1500 hectare mineral concessions and mining or high impact disturbance on 20 hectares. The agreement was the completion of proposed mining with the Divisaderos Ejido. The ejido vote was unanimous in favor of the proposal. The prior low impact surface agreement continues in effect. This completed agreement allows the company to move forward with a planned production scale bulk tonnage leach test.

Bacanora Minerals Ltd. is pleased to announce it has successfully met its objective of proving the lateral continuity of the hectorite-polylithionite clay mineralization on the Ventana Lithium deposit. Bacanora intends to generate a National Instrument 43-101 compliant Lithium Carbonate Equivalent with an initial resource estimate on Ventana in Q1 2012. This round of drilling follows up on the impressive results from the first drill program which included drillhole LV-04 which returned a thick section of 54.25 metres averaging 2,713 ppm Li (1.45% Li2CO3) over the entire sample width. (see Bacanora’s news release dated Jan 21, 2011).

Red Tiger Mining Inc. is pleased to report that contractors have advanced the construction and development of the Company’s Luz del Cobre Copper Project (Sonora, Mexico) to an overall 75% to 80% of completion. M3 Engineering & Construction Inc. is continuing to supervise the site construction as the EPCM (Engineering, Procurement, and Construction Management) Contractor.

Goldgroup Mining Inc. is pleased to announce that additional diamond drill holes at its Caballo Blanco gold project in Veracruz, Mexico have yielded significant gold intercepts, expanding the La Paila oxide gold zone to the west and southwest. All ten drill holes reported below (see Tables 1 and 2 and the drill hole location map) are part of the ongoing drill program to define and to expand the southwestern flank of the La Paila gold zone as the zone currently remains open in this direction.

Torex Gold Resources Inc. is pleased to announce that its wholly owned subsidiary, Minera Media Luna S.A. de C.V., has signed a long term, common land lease agreement with the Rio Balsas Ejido for the use of 507 hectares of land, for the future construction, mining, and processing of gold at its Morelos Gold Project in Guerrero State, Mexico.

War Eagle Mining Company Inc. is pleased to report that its shareholders approved all of the resolutions proposed at War Eagle’s annual general and special meeting of shareholders held on December 8, 2011. In particular, shareholders approved the planned reverse takeover of the Company by Andromeda Resources Inc. as fully described in the Company’s information circulation dated November 9, 2011.

Chesapeake Gold Corp. is pleased to provide an update to various activities and related developments on its 100% owned Metates gold-silver project located in Durango State, Mexico. Metates hosts one of the largest known undeveloped gold and silver deposits containing 17.2 million ounces gold, 466 million ounces silver and 3.4 billion pounds zinc (Measured + Indicated) and 2.6 million ounces gold, 62 million ounces silver and 360 million pounds zinc (Inferred). The April 2011 updated Preliminary Economic Assessment (“PEA”) reported that the Metates project would produce an average of 759,000 ounces gold and 20.0 million ounces silver annually over a 19 year mine life with strong project economics.

Sonora Resources Corp., a mineral exploration and development Company focused on the acquisition of international silver and gold mining properties, is pleased to advise that a program of measuring and sampling of the extensive historic surface dumps at the Ayones Project was undertaken November 8-13, 2011.

WestStar Resources Corp. has received the first batch of assays for a rock sampling program recently completed 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 most prospective sample was an outcrop rock chip sample collected from a mineralized quartz vein hosted within silica and carbonate altered rhyolite tuff. This sample (sample 11DMP135) assayed 311 grams-per-tonne (“g/t”) silver and 7.81 g/t gold. Continuous rock channel sampling across this partially exposed zone of mineralization returned assays of 64.1 g/t silver and 0.84 g/t gold over a true width of 6.0 metres (sample Channel 2). These results outline the potential for the Property which is encouraging for the Company. Table 1 below outlines the distribution of gold and silver grades by sample type.