Category: Exploration and Development

Cream Minerals Ltd. is pleased to announce in-fill drill results for the Once Bocas North Zone at Nuevo Milenio. OBN 02-11 tested the up dip section of the mineralized zone defined by DDH 09-06 intersecting a broad zone 18 metres wide returning good values including 118.8 g/t Ag and 9.240 g/t Au over 2 metres. The mineralization contained within Once Bocas North comprises 15.6 million ounces silver equivalent of Nuevo Milenio’s 54.6 million ounce silver equivalent Inferred Mineral Resource. The December 2008 NI 43-101 Technical Report employed a cut-off grade of approximately 131 g/t silver equivalent. In-fill drilling of Once Bocas North is one aspect of the 20,292 metre diamond drill program completed in early October at the 100% owned Nuevo Milenio Silver-Gold Project, Nayarit State, Mexico. Nuevo Milenio covers a low sulphidation, epithermal precious metal prospect containing silver-gold mineralization in quartz vein quartz stock work zones hosted within a collapsed caldera.

Canasil Resources Inc. is pleased to report that MAG Silver Corp. has started the planned diamond drill program at the La Esperanza silver-lead-zinc project in Durango and Zacatecas States, Mexico. The drill program is planned for up to 5,000 metres in 16 drill holes to test two of the veins in the project area, including extensions of the La Esperanza vein previously drill tested by Canasil with encouraging results. MAG is earning a 60% interest in the property from Canasil under an option agreement dated August 19, 2010. Expenditures on the project reported by MAG up to September 30, 2011, were $831,681.

Great Panther Silver Ltd. is pleased to provide an update on a further 12 surface diamond drill holes from the ongoing program at the Company’s wholly-owned San Ignacio Project in Guanajuato, Mexico. Drill-holes ESI11-039 to ESI11-050, inclusive, were drilled from section 450N to section 700N, confirming vein continuity with mineralized vein widths of up to nine metres, and in-filling the Intermediate zone extension to the south, and defining the Nombre de Dios zone. Assays from drill core continue to demonstrate higher gold:silver ratios than at the main Guanajuato Mine.

Geologix Explorations Inc. is pleased to announce additional assay results from the Company’s resource expansion and infill drilling program completed at its 100% owned Tepal gold-copper project in the state of Michoacán, Mexico.

Exploration Highlights:

•Hole LP965 drilled between the two main portions of the 623 Manto intersected 1,955 g/t (57 oz/T) Ag, 14.99% Pb, 28.76% Zn over 4.08 metres (m);
•Hole LP971 drilled east of the 623 Manto in a relatively open area intersected 1,028 g/t (30 oz/T) Ag, 10.47% Pb, 12.74% Zn over 4.53 m;

Production Highlights:

•Tonnage milled in November was 6,800 tonnes which exceeded budget by 35%;
•Silver production was 227,000 oz which exceeded budget by 95%.

Stroud Resources Ltd. (SDR.V), which eased 1 cent yesterday to edge back towards a year low of 6 cents, announced the latest results from its drill program at the Santo Domingo project in central Mexico. It said drill results continue to be “very encouraging”, with DDH #42 intersecting the “up dip” extension of the mineralization encountered in DDH #11. The distance between the two mineralized intersections is approximately 175 metres.

Geologix Explorations Inc. (TSX: GIX) is pleased to announce the completion of an airborne geophysical survey over the entire Tepal project area. A total of 1,551 line kilometres were flown, at flight line spacings of 150 metres, over the entire 172 square kilometre Tepal project mineral concessions (1,421 line kilometre). A more detailed survey over the 19 square kilometre (130 line kilometres) core resource area was flown at 75 metre spacings.

Azure Minerals (ASX: AZS) has elected to withdraw from the acquisition of the San Francisco Manganese Project to focus on advancing its Promontorio Copper Project in Mexico.

Timmins Gold Corp. announces that improvements have been realized in gold recoveries for the months of October and November, 2011. Gold placed on the heap leach pads for October was 11,966 ounces (464,007 tonnes at a grade of 0.802 grams per tonne) and 6,618 ounces were extracted from the leach pads. Gold placed on the heap leach pads for November was 9,972 ounces (413,165 tonnes at a grade of 0.751 grams per tonne) and 6,990 ounces were extracted from the leach pads.

“We are very pleased, to be exploring the possible expansion of ore grade material beyond the old San Juan Mine workings. Along with its rich production history, the San Juan property’s very prospective geology offers excellent potential for major new gold discoveries,” said Mr. Damien Reynolds, Director.