Category: Investor’s Corner

San Marco Resources Inc. has completed the first tranche of its non-brokered $700,000 private placement of units announced June 20, 2012 by selling 3,060,000 units at $0.10 per unit for gross proceeds of $306,000. The proceeds of the placement will be used for continued drill target definition on San Marco’s 100% owned Los Carlos II gold-silver property, drill target identification on its recently acquired Angeles property, and general working capital.

AuRico Gold Inc. announced today that René Marion, President, Chief Executive Officer and Director has tendered his resignation for health reasons effective September 3, 2012 and that Scott Perry has been appointed President and Chief Executive Officer. Russell Tremayne and Peter MacPhail will remain as the Chief Operating Officers of Mexico and Canada respectively. Mr. Colin Benner has been appointed as Executive Chairman and will work with the management team through the transition period.

First Majestic Silver Corp. is pleased to announce that total production at its three mines in Mexico for the second quarter ending June 30, 2012 reached 2,102,222 equivalent ounces of silver, representing a 14% increase compared to the same quarter in 2011.

Q2 2012 attributable production of 5.2 million silver equivalent ounces
H1 2012 attributable production of 10.2 million silver equivalent ounces
On track to deliver 2012 attributable production target of 20.0 million silver equivalent ounces
Temporary accumulation of San Jose concentrate inventory at end Q2 2012 due to industry-wide regulatory changes in Argentina; exports resumed and inventory to be sold in H2 2012
Continued progress at Inmaculada and Crespo Advanced Projects
Ongoing positive results from mines and brownfield exploration programme with significant intercepts reported and continued discovery of new economic veins
Resource additions at current operations on track to meet annual target
Solid financial position with total cash of approximately $543m and minority investments of $413.6m as at 30 June 2012

McEwen Mining Inc. is pleased to announce good Second Quarter production results for the San Jose mine. Production of gold and gold equivalent ounces was up 9% over the previous quarter and up 17% over Second Quarter 2011. McEwen Mining’s 49% share of production during the quarter was 10,754 ounces gold and 735,000 ounces silver, representing 24,889 gold and gold equivalent ounces1. Production costs will be announced with the Second Quarter financial results, which will be released in early August of 2012.

Total of 323,396 tonnes processed in the second quarter of 2012 compared to 37,408 tonnes in the same period of 2011. Total silver (“Ag”) production of 670,705 ounces (“oz”) in the second quarter of 2012 compared to 63,942 oz for the same period of 2011.

Aura Minerals Inc. announces that Mr. J. Britt Reid has departed as Executive Vice President and Chief Operating Officer effective July 13, 2012. The Board of Directors and Management thank Mr. Reid for his contributions to the Company over the past three years and wish him success in his future endeavours.

In May, Baja retained BMO Capital Markets to assist in considering financing options and possible sources of funding. Non-disclosure agreements were signed by a number of interested parties, who were granted access to Baja’s data room and attended management presentations. A draft independent engineering report prepared by SRK was recently provided to parties participating in the BMO process.

Great Panther Silver Limited reports second quarter (“Q2”) production results from its two wholly-owned Mexican silver mining operations, Guanajuato and Topia.

Timmins Gold Corp. Further to its news release of June 21, 2012, the Company is pleased to announce it has closed the amendment to its C$18 million credit agreement with Sprott Resource Lending Partnership.