• Denison Reports McClean Lake Mill Obtains Regulatory Authorization to Produce Up to 24 Mlbs U3O8 Per Year

    TORONTO, ONTARIO--(Marketwired - May 31, 2016) - Denison Mines Corp. ("Denison" or the "Company") (TSX:DML)(NYSE MKT:DNN) is pleased to report that its 22.5% owned McClean Lake mill has obtained authorization from the Canadian Nuclear Safety Commission ("CNSC") to increase its annual production capacity of uranium ("U3O8") from 13 million to 24 million pounds per year. Located in the infrastructure rich eastern portion of the Athabasca Basin region, in Read More

  • Platinum Group Metals Ltd. Announces More High Grade, Thick Platinum and Palladium Intercepts at Waterberg - Deposit Still Open

    VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 31, 2016) - Platinum Group Metals Ltd. (TSX:PTM)(NYSE MKT:PLG) ("Platinum Group Metals" or the "Company") reports new platinum, palladium and gold ("3E") assay results for recent drill intercepts completed on the Waterberg Project subsequent to the updated independent resource estimate announced on April 19, 2016. Assay results for two new drill intercepts on the Super T layer have been received as follows: Hole Read More

  • Pretium Resources Inc.: Valley of the Kings Infill Drilling Concludes With More High-Grade Gold Mineralization

    VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 31, 2016) - Pretium Resources Inc. (TSX:PVG)(NYSE:PVG) ("Pretivm" or the "Company") is pleased to report the remaining results from the underground infill drill program at the Brucejack Project's Valley of the Kings, including six intersections grading greater than 1,000 grams per tonne gold within long intervals of significant gold mineralization. (See Table 1 below for assays.) The 2015/2016 infill drill program was successful Read More

  • ATAC Announces Positive Results of an Updated PEA at the High-Grade Tiger Gold Deposit, Rackla Gold Project, Yukon

    VANCOUVER, BC--(Marketwired - May 31, 2016) - ATAC Resources Ltd. (TSX VENTURE: ATC) is pleased to announce the completion of an updated Preliminary Economic Assessment ("PEA") for the Tiger Deposit, located at the western side of the Company's 100% owned Rackla Gold Project, Yukon. The 2016 PEA has incorporated results of geotechnical and infill drilling conducted in 2015 and metallurgical studies completed in early 2016. Key changes to Read More

  • TomaGold Acquires the Obalski Property and Consolidates its Position in the Chibougamau Mining Camp

    MONTREAL, QUEBEC--(Marketwired - May 31, 2016) - TomaGold Corporation (TSX VENTURE:LOT) ("TomaGold" or the "Corporation") is pleased to announce that it has signed an agreement to acquire the Obalski property from David Malouf and 2736-1179 Quebec Inc.. The property consists of 22 claims and one mining concession covering a total of 344.8 hectares and lies 3 km south of Chibougamau, Quebec. The Obalski property hosts seven separate mineralized Read More

  • Premier enters into US$45 million financing arrangements with Orion with opportunity for up to US$400 million in acquisition or development financing

    THUNDER BAY, ON, May 31, 2016 /CNW/ - PREMIER GOLD MINES LIMITED (TSX:PG) ("Premier", the "Company") is pleased to announce that it has entered into a US$45 Million financing arrangement with ORION MINE FINANCE ("Orion") with the opportunity for up to an additional US$400 Million in acquisition or development financing. The financing arrangement (the "Financing") is comprised of three components (as more fully described below) whereby Orion Read More

  • Red Eagle Mining continues to advance construction of the San Ramon Gold Mine during Q1 2016

    VANCOUVER, May 31, 2016 /CNW/ - Red Eagle Mining Corporation (TSX-V: RD, OTCQX: RDEMF, SSE-V: RDCL) is pleased to announce financial results for the three months ending March 31, 2016 and business highlights to date, including advancements at Red Eagle Mining's San Ramon Gold Mine in Antioquia, Colombia. Development and Construction of the San Ramon Gold Mine and Mill The overall project is approximately 70% complete (based Read More

  • Gold Standard Begins Drilling at North Dark Star to Follow Up Last Year's Key Oxide Gold Discovery

    VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 31, 2016) - Gold Standard Ventures Corp. (TSX VENTURE:GSV)(NYSE MKT:GSV) ("Gold Standard" or the "Company") today reported that drilling has begun with one reverse circulation (RC) rig and one core rig at the North Dark Star target on its 100%-owned/controlled Railroad-Pinion Project in Nevada's Carlin Trend. Another two rigs are currently drilling the North Bullion lower breccia target as announced on May 18, Read More

  • Cameco Plans Summer Drilling at CanAlaska's West McArthur Project

    Vancouver, British Columbia--(Newsfile Corp. - May 31, 2016) - CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (Frankfurt: DH7N) ("CanAlaska or the Company") is pleased to announce that the first drill hole of Cameco's (Cameco Corporation (TSX: CCO) (NYSE: CCJ) year 1 program at West McArthur (the "Project"), WMA035, has successfully intersected the C10 south structure with strong sandstone alteration in what appears to be the hanging wall of Read More

  • Nevada Sunrise announces Neptune Lithium Project Phase 1 drilling results

    VANCOUVER, May 31, 2016 /CNW/ - Nevada Sunrise Gold Corporation ("Nevada Sunrise" or the "Company") (TSXV: NEV) is pleased to announce Phase 1 exploration results from its drilling program at the Neptune Lithium Project ("Neptune") located in the southern Clayton Valley of Nevada, USA. Nevada Sunrise completed two exploration holes at Neptune in late March 2016. Drill targets were generated from the integration of the results of: Read More

  • Pangolin Diamonds to Drill Kimberlite Targets at Motloutse Diamond Project, Botswana

    TORONTO, ONTARIO--(Marketwired - May 31, 2016) - Pangolin Diamonds Corp. (TSX VENTURE:PAN) (the "Company" or "Pangolin") is pleased to provide an update for the Company's wholly-owned Motloutse Diamond Project ("Motloutse"), located 150 km east of the Orapa Diamond Mine in Botswana. Several aeromagnetic anomalies have been selected for follow-up with soil sampling, ground magnetic and gravity surveys to identify kimberlite drill targets. This program is nearing completion. The Read More

  • Carmax Announces Update on Activities and Start of 2016 Program for Eaglehead Property

    VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 31, 2016) - Carmax Mining Corp. ("Carmax") (TSX VENTURE:CXM) is pleased to announce that the 2016 field program on its 100% owned Eaglehead porphyry copper property located in northern British Columbia is expected to commence on or about June 6th, 2016. Highlights of the Phase I work completed to date are outlined below: Phase I Highlights: The drill holes and sample intervals for Read More

  • Orex Hits Silver in a Step-Out Hole 350 Metres West of the Main Zone on the Sandra Escobar Project, Durango, Mexico, Including an Intercept of 46 Metres Grading 156 g/t Silver

    VANCOUVER, May 31, 2016 /CNW/ - Orex Minerals Inc. – (TSX-V: REX) ("Orex"), is pleased to announce that the Phase-II diamond drilling program is complete on the Sandra Escobar Project in Durango, Mexico. Assays for eight more drill holes are now available. These include holes SA-16-031 to SA-16-038 in the southeastern region of the project. The Sandra Escobar Project is being advanced by Orex under an option agreement Read More

  • Silver Standard Completes Acquisition of Claude Resources

    VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 31, 2016) - Silver Standard Resources Inc. (NASDAQ:SSRI)(TSX:SSO) ("Silver Standard") and Claude Resources Inc. (TSX:CRJ) ("Claude Resources") are pleased to announce that Silver Standard's acquisition of Claude Resources is complete. Paul Benson, President and CEO said, "Adding the Seabee Gold Operation together with Silver Standard's Marigold and Pirquitas mines creates a quality intermediate precious metals producer, having both scale and margin with pro Read More

  • Scientific Metals Acquires the Paradox Basin Lithium Brine Property, Utah

    VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 31, 2016) - Scientific Metals Corp. ("STM" or the "Company") (TSX VENTURE:STM)(FRANKFURT:26X)(OTC PINK:NRNDF) is pleased to announce it has entered into an arm's length agreement to acquire a 100 percent interest in the Paradox Basin Lithium Brine property (the "Paradox Property") located in Utah in the western United States. The Paradox Property consists of 334 mineral claims covering approximately 6,000 acres that contain Read More

  • Wallbridge Announces Further Drill Results and Initiates Permitting Process for Potential Bulk Sample on Parkin Properties

    TORONTO, May 31, 2016 /CNW/ - Wallbridge Mining Company Limited (TSX: WM, FWB: WC7) ("Wallbridge") announces additional drilling results and the initiation of the permitting process, including an environmental baseline study, for a potential bulk sample on its flagship Parkin Properties exploration project in Sudbury, Ontario. The Parkin Properties are being explored for nickel, copper, and platinum group metal mineralization. New Drill Result Highlights*: Drill hole WMP-199 Read More

  • North Arrow Confirms New Diamondiferous Kimberlites at Pikoo, Saskatchewan

    VANCOUVER, BC--(Marketwired - May 31, 2016) - North Arrow Minerals Inc. (TSX VENTURE: NAR) is pleased to announce initial microdiamond results from the 2016 drilling program at the Pikoo Diamond Project in central eastern Saskatchewan, approximately 10 km north of the road accessible community of Deschambault Lake. These results continue to confirm that all Pikoo kimberlites tested to date are diamondiferous, including new kimberlite PK346. As reported in Read More

  • Redhill Signs Option to Acquire Lincoln Lithium Project

    VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 31, 2016) - Redhill Resources Corp., (TSX VENTURE:RHR), ("Redhill" or the "Company") wishes to announce that it has entered into a property option and assignment agreement (the "Agreement") with a vendor (the "Vendor") to acquire a 100% right, title and interest in and to the Lincoln Lithium Property in Nevada (the "Property"). The Property covers an area of 3200 acres of placer claims Read More

  • East Africa Metals Closes $1 Million Non-Brokered Private Placement

    VANCOUVER, BC--(Marketwired - May 31, 2016) - NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES East Africa Metals Inc. (TSX VENTURE: EAM) (the "Company") announces that it has closed the previously announced non-brokered private placement financing of 10,000,000 units at a price of $0.10 per unit, Read More

  • Gold Resource Corporation Continues Returning High-Grade Drill Intercepts at Switchback Including 9.50 Meters of 8.85 G/T Gold, 669 G/T Silver, 3.15 Meters of 15.79 G/T Gold, 110 G/T Silver and 13.23 Meters of 4.03 G/T Gold, 114 G/T Silver

    COLORADO SPRINGS, CO--(Marketwired - May 31, 2016) - Gold Resource Corporation (NYSE MKT: GORO) (the "Company") today announced additional Switchback drill results from its Aguila Project's Arista Mine. Gold Resource Corporation is a gold and silver producer with operations in Oaxaca, Mexico and exploration in Nevada, USA. The Company has returned $108 million to shareholders in monthly dividends since commercial production commenced July 1, 2010, and offers shareholders Read More

  • Aurcana Initiates PEA on Shafter Silver Project

    VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 31, 2016) - Aurcana Corporation ("Aurcana" or the "Company") (TSX VENTURE:AUN) Aurcana Corporation is pleased to announce that it has initiated a Preliminary Economic Assessment (the "PEA") in respect of the Company's 100% owned Shafter Silver Project, in Presidio County, Texas. The PEA will provide a base-case assessment for the further development of the existing mineral resource and the recommencement of mining operations Read More

  • Updated Share Capital and Voting Rights for Lundin Mining

    TORONTO, ONTARIO--(Marketwired - May 31, 2016) - Lundin Mining Corporation (TSX:LUN)(OMX:LUMI) ("Lundin Mining" or the "Company") reports the following, in accordance with the Swedish Financial Instruments Trading Act: As a result of the vesting of employee share units from May 1, 2016 to date, the number of issued and outstanding shares of the Company has increased to 719,636,857 common shares with voting rights as at May 31, 2016. Read More

  • RJK Option Agreement for High Grade Gold Property in Destor-Porcupine Fault Zone

    Kirkland Lake, Ontario--(Newsfile Corp. - May 31, 2016) - RJK Explorations Ltd. (TSXV: RJX.A), ("RJK") is pleased to announce that it has entered into a property option agreement with Globex Mining Enterprises Inc. ("GMX") to acquire a 100% beneficial interest in the mineral property referred to as the Ramp Property ("Ramp") located in the Beatty, Carr, Coulson and Wilkie Townships, Province of Ontario, comprised of 66 unpatented mining Read More

  • Freeport-McMoRan Completes Sale of 13% Interest in Morenci Mine for $1.0 Billion in Cash

    PHOENIX--(BUSINESS WIRE)--Freeport-McMoRan Inc. (NYSE: FCX) announced today that it has completed its previously announced sale of a 13 percent interest in its Morenci unincorporated joint venture to Sumitomo Metal Mining Co. Ltd. (SMM) for cash consideration of $1.0 billion. The transaction has an effective date of May 31, 2016. The Morenci unincorporated joint venture is now owned 72 percent by FCX, 15 percent by Sumitomo Metal Read More

  • Cliffs Natural Resources Inc. and ArcelorMittal USA LLC Enter Into New Long-term Iron Ore Supply Agreement through 2026

    CLEVELAND, May 31, 2016 /PRNewswire/-- Cliffs Natural Resources Inc. (NYSE: CLF) announced today that it has entered into a new long-term commercial agreement with ArcelorMittal USA LLC to supply tailor-made iron ore pellets for the next ten years through 2026. The new agreement will replace two existing agreements expiring in Dec. 2016 and Jan. 2017 and fill the entirety of ArcelorMittal's pellet purchase requirements from the Read More

  • Wolfden announces closing of $357,500 non-brokered flow-through private placement

    THUNDER BAY, ON, May 31, 2016 /CNW/ - Wolfden Resources Corporation (WLF:TSX-V) ("Wolfden" or the "Company") is pleased to announce that it has completed a previously announced non-brokered private placement (the "Offering") of 3,250,000 flow-through units (the "Flow-Through Units") at a price of $0.11 per Flow-Through Unit for gross proceeds of $357,500. Each Flow-Through Unit consists of one common share of the Company that is a "flow-through Read More

  • Silver Bull to Complete Private Placement of CDN$1,000,000

    VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 31, 2016) - NOT TO BE DISSEMINATED IN THE UNITED STATES Silver Bull Resources, Inc., (TSX:SVB) (OTCQB:SVBL) ("Silver Bull" or the "Company") is pleased to announce its intention to complete the second and final tranche of the non-brokered private placement (the "Private Placement") of units (the "Units") of the Company announced on May 12, 2016. The Units will be issued at a price Read More

  • Kennady Diamonds Completes 2016 Winter Drilling Program

    TORONTO, May 31, 2016 /CNW/ - Kennady Diamonds Inc. ("Kennady Diamonds", the "Company") (TSX-V: KDI) is pleased to announce that the 2016 winter drilling program has been successfully completed. A total of 10,712 meters of core drilling was completed with kimberlite intersected in each of the 74 drill holes comprising the program. Dr. Rory Moore, president and CEO of Kennady Diamonds, noted: "The 2016 winter drill program Read More

  • Rise to Acquire a Group of Gold and Base Metals Properties in British Columbia

    VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 31, 2016) - NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES Rise Resources Inc. (CSE:UPP) (OTC:RYES) ("Rise" or the "Company"), is pleased to announce that it has entered into an agreement with Klondike Gold Corp., a British Columbia company with its common shares Read More

  • Kiska Provides Update on Exploration Activities, Copper Joe Drilling Program Planned for Summer 2016

    VANCOUVER, BC--(Marketwired - May 31, 2016) - Kiska Metals Corporation ("Kiska" or the "Company") (TSX VENTURE: KSK) is pleased to provide an update on recent activities. "Kiska is excited to be entering this period of renewed interest in the resource sector with over $4 million of cash and marketable securities on hand, active option agreements with top-tier companies, drill-ready projects available for option, and a growing royalty portfolio," Read More

  • Typhoon Begins a Prospecting and Channel Sampling Program on the Monexco Project, in Chibougamau

    LAVAL, QUEBEC--(Marketwired - May 31, 2016) - Typhoon Exploration Inc. (TSX VENTURE:TYP) («Typhoon») announces that it has begun exploration work on its Monexco property (100%-owned), located approximately 30 kilometers north-east of the town of Chibougamau, inside the Plan Nord territory. The Monexco property straddles a high potential gold trend over a distance of more than 5 kilometers centered on the France River shear zone. Results delivered by Typhoon Read More

  • Eagle Plains Commences Fieldwork at Vulcan

    Cranbrook, British Columbia (FSCwire) - Eagle Plains Resources Ltd. (TSX-V: “EPL”) has mobilized a field crew to commence geological fieldwork on its Vulcan project located near Kimberley, BC. The Property is owned 100% by Eagle Plains and is considered to hold significant potential to host silver-lead-zinc mineralization similar to that at the world-class Sullivan deposit, located 30km to the east. Portions of the Vulcan property were originally Read More

  • Avarone Receives Drill Permit for its Moab Lithium Brine Project

    Vancouver, B.C. / TheNewswire / MAY 31, 2016 - Avarone Metals Inc. (CSE: AVM) (Frankfurt: W2U1; WKN: A14SVX) (the "Company" or "Avarone") is pleased to announce it has received exploration permits from the Bureau of Land Management, Nevada, to complete up to 20 drill holes on its 100% owned Moab Lithium Project in the South Big Smoky Valley, Nevada. Drilling is to be conducted utilizing Vibracore electric drills, which Read More

  • Blue River Resources Announces Expanded Surface Gold Anomaly and Exploration Plans for 2016 Banlung Project, Cambodia

    Vancouver, British Columbia--(Newsfile Corp. - May 31, 2016) - Blue River Resources Ltd. (TSXV: BXR ) (OTC Pink: BRVRF) (FSE: 0BL) ("Blue River") is pleased to announce that the surface gold anomaly on the Banlung Project, Cambodia has been expanded to 4.37 km2, with a higher gold pan concentrate zone measuring 40 hectares, within the zone. Today's announcement follows a previous release of exploration results on the Banlung Project Read More

  • Nevada Clean Magnesium Extends Closing Date for Convertible Note Financing

    VANCOUVER, BRITISH COLUMBIA / TheNewswire / May 31, 2016 - Nevada Clean Magnesium, Inc. (TSXV: NVM; Frankfurt-M1V; OTC Pink Sheets: MLYFF) (The "Company") today announced that the TSX Venture Exchange has granted a 30 day extension for the non-brokered private placement of unsecured convertible notes. The accumulated total from the two tranches has collectively raised $250,000; no finder's fees were paid in connection with the financing. About the Financing Read More

  • Pelangio Reports Annual General Meeting Voting Results and Reports Filing of First Quarter Results for 2016

    TORONTO, ONTARIO--(Marketwired - May 31, 2016) - Pelangio Exploration Inc. (TSX VENTURE:PX)(OTC PINK:PGXPF) ("Pelangio" or the "Company") announces the voting results from its Annual General Meeting of Shareholders held on May 26, 2016 (the "Meeting"). Pelangio's shareholders voted in favour of all items of business at the 2016 Annual General Meeting held on May 26, 2016. A total of 98,280,521 (42.83%) of Pelangio's common shares were represented at Read More

  • Callinex Expands the Pine Bay East Zone and Intersects 2.3m of 9.3% Zinc Equivalent

    VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 31, 2016) - Highlights: An 85m step-out hole from PBM-008, the initial discovery hole, intersected 2.3m of 9.3% zinc equivalent; A total of four holes have intersected mineralization along an approximate 175m strike length; and Plans to complete a deep hole testing the down-plunge extension of the Pine Bay East Zone. Callinex Mines Inc. (the "Company" or "Callinex") (TSX VENTURE:CNX)(OTCQX:CLLXF) is pleased to Read More

  • Detour Gold Provides Update on the Investigation of Employee Death at Detour Lake Mine

    TORONTO, ONTARIO--(Marketwired - May 31, 2016) - Detour Gold Corporation (TSX:DGC) ("Detour Gold" or the "Company") reports that it was charged yesterday, along with three site employees, with offences under the Occupational Health and Safety Act relating to the fatality that occurred at the Detour Lake mine site on June 3, 2015. "In light of the charge previously brought against the Company under the Criminal Code of Canada Read More

  • Great Atlantic Resources to Acquire the Golden Promise Gold Property located in Central Newfoundland, Canada

    Vancouver, British Columbia (FSCwire) - GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the “Company” or “Great Atlantic”) is pleased to announce it has entered into a letter of intent (the “LOI”) to acquire a 100% interest in the Golden Promise Gold Property, located in central Newfoundland through an option agreement (the “Transaction”). The property hosts multiple gold-bearing quartz vein zones and zones of gold-bearing float boulders, some with reported Read More

  • Margaux Resources Announces Increase in Size of Private Placement Offering and Additional Flow-Through and Debenture Offering

    CALGARY, ALBERTA--(Marketwired - May 31, 2016) - NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA. Margaux Resources Ltd. (TSX VENTURE:MRL) ("Margaux" or the "Company") is pleased to announce that, further to its press release of May 25, 2016 and subject to receipt of all required regulatory approvals, it intends to increase the size of its previously announced offering of units Read More

  • Dynasty Mining Engages a Financial Advisor to the Special Committee of the Board & Provides a Corporate Update

    VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 31, 2016) - Dynasty Metals & Mining Inc. ("Dynasty" or the "Company") (TSX:DMM) (OTCQX:DMMIF) wishes to announce the engagement of a formal financial advisor to the Special Committee of the Dynasty Board of Directors. Since Dynasty's announcement of the formation of this Special Committee, the committee has been reviewing options with respect to the financial requirements and strategic alternatives for the Company. The Read More

  • Centerra Gold Delivers Notice of Arbitration to Kyrgyz Republic Government

    TORONTO, ON--(Marketwired - May 30, 2016) - Centerra Gold Inc. (TSX: CG) ("Centerra" or the "Company") reports that it has delivered a notice of arbitration (the "Notice") to the Kyrgyz Republic Government in connection with certain ongoing disputes relating to the Kumtor Project. These include: (i) each of the environmental claims brought by the Kyrgyz Republic State Inspectorate Office for Environmental and Technical Safety ("SIETS") and the State Read More

  • Eagle Graphite Incorporated Announces Executive Appointment

    TORONTO, ONTARIO--(Marketwired - May 31, 2016) - Eagle Graphite Incorporated (TSX VENTURE:EGA)(FRANKFURT:NJGP) ("Eagle Graphite" or the "Company") is pleased to announce the appointment of Mr. Alan Grujic, BASc, MBA, as Interim Chief Financial Officer ("CFO") and Corporate Secretary, effective May 31, 2016, subject to customary regulatory approvals. Mr. Grujic replaces Mr. Daryl Wood, who resigned effective May 30, 2016 to focus on the increased demands of his position Read More

  • Kombat Copper Provides Update on Mill Refurbishment

    TORONTO, ONTARIO--(Marketwired - May 31, 2016) - Kombat Copper Inc. (TSX VENTURE:KBT) ("Kombat Copper" or the "Company") and its management team are pleased to provide its shareholders with the following update on EBM Mining Namibia's progress at the Kombat Mine site. Plant Refurbishment and Mining Update Kombat Copper previously reported that refurbishment activities have been progressing well. This status continues and EBM has reported that they have successfully Read More

  • Eastmain Resources Appoints Joe Fazzini as Chief Financial Officer & Vice President Corporate Development

    TORONTO, ONTARIO--(Marketwired - May 31, 2016) - Eastmain Resources Inc. ("Eastmain" or the "Company") (TSX:ER) is pleased to announce the appointment of Joe Fazzini, CPA, CA, CFA as Chief Financial Officer and Vice President Corporate Development based in Toronto, effective today. In addition to his duties as CFO, Mr. Fazzini will also oversee corporate development activities including company strategy, project analysis and financial modeling as Eastmain continues to Read More

  • Sherritt Announces Execution of Support Agreements to Extend Maturities on all Outstanding Notes

    TORONTO, ON--(Marketwired - May 31, 2016) - NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES Sherritt International Corporation ("Sherritt" or the "Corporation") (TSX: S) announced today that it has entered into consent and support agreements (the "Support Agreements") with institutional holders of approximately 44% of Sherritt's $720 million of outstanding senior unsecured debentures (the "Notes"). The Support Agreements contemplate a proposed Read More

  • SouthGobi Provides an Update on the Ontario Class Action

    HONG KONG, CHINA--(Marketwired - May 31, 2016) - SouthGobi Resources Ltd. (TSX: SGQ)(HKSE:1878) (the "Company" or "SouthGobi") announces today the May 24, 2016 decision of the Ontario Superior Court of Justice ("the Court"). The Court granted SouthGobi leave to appeal the decision made on November 5, 2015, which granted the plaintiff permission to commence an action claiming damages under the Ontario Securities Act with respect to the Company's Read More

  • Prosper Gold Corp. Mobilizes Field Crew-Ashley Gold Project-Ontario

    QUESNEL, BRITISH COLUMBIA--(Marketwired - May 31, 2016) - Prosper Gold Corp. ("Prosper Gold" or the "Company") (TSX VENTURE:PGX) is pleased announce that ground exploration has commenced targeting the historical Ashley Gold mine area in Ontario. Four soil grids are planned covering areas where gold vein mineralization is known at surface, where preserved syenite intrusives are exposed, and where thorough OGS till sampling in 1997 returned anomalous gold-in-till targets Read More

  • RNC Increases Ownership Stake in Beta Hunt Gold-Nickel Mine to 100%

    TORONTO, May 31, 2016 /CNW/ - Royal Nickel Corporation ("RNC") (TSX: RNX) is pleased to announce that it now owns 100% of Salt Lake Mining Pty Ltd. ("SLM"), after the successful exercise of its options to acquire the SLM shares that it did not already own. SLM's primary asset is a 100% interest in the Beta Hunt gold and nickel mine in Western Australia. The 12,955,561 SLM Read More

  • Wealth Completes Listing on OTCQB® Exchange

    VANCOUVER, May 31, 2016 /CNW/ - Wealth Minerals Ltd. (the "Company" or "Wealth") - (TSXV: WML; OTCQB: WMLLF; Frankfurt: EJZ), announces that effective immediately, it has completed an upgrade from the OTC Pink® market to the OTCQB® market. The Company's WMLLF trading symbol will be unchanged. "Wealth believes that this upgraded listing will provide good support for the Company's newly implemented US investor relations program. The Company has Read More

  • Asiamet First Quarter Results 2016

    Vancouver, British Columbia (FSCwire) - The Asiamet Resources Limited (the "Company" or “ARS”) Financial Statements and Management Discussion & Analysis – Quarterly Highlights (“MD&A - QH”) for the three months ended March 31, 2016 are available for viewing on or Exploration and evaluation expenditures on Asiamet projects for the three months ended March 31, 2016 totaled $498,024 or 72% of total expenses of $694,753. Administration expenses totaled Read More

  • Rise Resources Acquires Gold and Base Metal Properties in British Columbia from Klondike Gold

    Vancouver, British Columbia (FSCwire) - Klondike Gold Corp. (TSX.V:KG; FRA: LBDP) (“Klondike Gold” or the “Company”) announces that it has entered into a Property Purchase Agreement with Rise Resources Inc. (“Rise”) for the acquisition by Rise of 100% of a portfolio of seven of Klondike’s British Columbia properties totalling 150 claims covering 128 square kilometers located in the southeastern part of the province. The seven properties are Read More

  • Aurvista Gold's Chairman Gerald P. McCarvill to Present at the Vancouver Commodity Forum

    Montreal, Quebec--(Newsfile Corp. - May 31, 2016) - Aurvista Gold Corporation (TSXV: AVA) (FSE: AV2) ("Aurvista" or the "Company") is pleased to announce that the Company Chairman, Gerald P. McCarvill will be a featured presenter at the Vancouver Commodity Forum on June 14, 2016, at the Hyatt Regency Hotel in Vancouver, British Columbia. The Vancouver Commodity Forum, hosted by Zimtu Capital Corp., is a one-day event which will Read More

  • Wellgreen Platinum Announces 2016 AGM Date

    VANCOUVER, May 31, 2016 /CNW/ - Wellgreen Platinum Ltd. ("Wellgreen Platinum" or the "Company") (TSX: WG; OTC-QX: WGPLF) is pleased to announce that it will hold its 2016 Annual General Meeting on September 27, 2016. About Wellgreen Platinum Wellgreen Platinum is a Canadian mining exploration and development company focused on the active advancement of its Wellgreen platinum group metals (PGM) and nickel project. Located in the Yukon Read More

  • Rosita Mining Provides Update on Stockpile and Tailings Project in Nicaragua

    Toronto, Ontario / TheNewswire / May 31, 2016 - Rosita Mining Corporation (RST: TSX-V) ("Rosita" or the "Company") is pleased to provide an update on the Santa Rita Stockpile and Tailings Project in Nicaragua. DENM Engineering, ("DENM") which was awarded the engineering contract for work on the treatment plant, (see Press Release of March 21, 2016) have begun the next stage of their work program. Metallurgical Program The draft Read More

  • Frontline Announces Keban Tailings Assays, (Including Significant Zinc Grades) and Advanced Discussions to Acquire New Tailings Areas

    Toronto, Ontario--(Newsfile Corp. - May 31, 2016) - Frontline Gold Corporation (TSXV: FGC) (“Frontline” or the “Company”) is pleased to announce the results of its assay sampling at depth at its Keban Tailings project as highlighted in its May 10, 2016 press release (“Frontline Announces Increase in Keban Tailings Tonnage and Provides Update ..."). In addition, the Company is pleased to announce the following: 1) that previously announced tailings Read More

  • Athabasca Nuclear Corp. Announces Lithium Exploration Program for Whabouchi-District Projects

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VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 12, 2016) - Golden Arrow Resources Corporation (TSX VENTURE:GRG)(FRANKFURT:GAC) (WKN: A0B6XQ) ("Golden Arrow" or the "Company") is pleased to announce an updated Mineral Resource Estimate prepared in accordance with Canadian National Instrument 43-101 ("NI 43-101") for the Company's 100% owned Chinchillas Silver Deposit in Jujuy Province, Argentina.

The recently completed Phase V drill program successfully converted more than fifty million ounces of silver equivalent ("AgEq") resources to the Measured and Indicated ("M+I") categories, at the base cut-off grade. This includes 17 million ounces of AgEq as Measured resources in the central part of the Silver Mantos zone, and expansion of Measured plus Indicated to the north, south and at depth. In addition, the average grade of M+I increased from 125 g/t to 142 g/t AgEq.

The updated resource estimate is part of the Chinchillas Project pre-development activities, funded by Silver Standard, which are being undertaken to evaluate the feasibility of creating a combined mining business with Silver Standard's Pirquitas mine, as announced October 1st, 2015. Between October 2015 and February 2016, approximately 15,000 metres of diamond drilling was completed at the deposit in the Phase V program. The main objective of the program was to infill the Silver Mantos area of the deposit with sufficient density to convert a significant portion of the resource estimate reported July 31st, 2015 to M+I, as required for the studies being completed by Silver Standard.

Highlights of the Mineral Resource Estimate:

  • New Measured Resource of 17 million ounces of AgEq at 149 g/t AgEq grade. (3.6 million tonnes grading 115g/t silver, 0.56% lead, 0.38% zinc at a 45g/t AgEq cut-off)
  • Increase in Indicated Resources by 34 million ounces to 138 million ounces AgEq. (30.6 million tonnes grading 88g/t silver, 0.85% lead, 0.60% zinc at a 45g/t AgEq cut-off)
  • Average grade increased from 125g/t AgEq to 142 g/t AgEq in Measured and Indicated.
  • Inferred Mineral Resource of 90 million ounces of AgEq at 85 g/t AgEq grade (32.9 million tonnes grading 42g/t silver, 0.44% lead and 0.76% zinc at a 45g/t AgEq cut-off)
  • Deposit continues to remain open to expansion

Details of the mineral resource estimate methodology, including metals pricing and equivalency calculations, a comparison with the previous estimate, sensitivity analysis to cut-off grades and sampling QA/QC can be found in the section below.

A NI 43-101 Technical Report supporting disclosure of this mineral resource and containing addition details will be filed by Golden Arrow on SEDAR within 45 days of this press release.

Mineral Resource Estimate Details

Mineral resources, which are not mineral reserves, do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues. The quantity and grade of reported Inferred resources are uncertain in nature and there has been insufficient exploration to classify these inferred resources as Indicated or Measured, and it is uncertain if further exploration will result in upgrading them to an Indicated or Measured category.

Table 1. Mineral Resource Statement for the Chinchillas Project, April 12, 2016.

Type Mtonnes AgEq
Silver Mantos 3.6 149 115 0.56 0.38 17 13 44 30
Silver Mantos 11.9 118 72 0.63 0.64 45 28 166 168
Mantos Basement 13.6 176 125 1.16 0.27 77 55 347 81
Socavon 5.0 97 29 0.54 1.37 16 5 59 152
ALL 30.6 141 88 0.85 0.60 138 87 574 401
Measured and Indicated
Silver Mantos 15.5 125 82 0.62 0.58 62 41 210 198
Mantos Basement 13.6 176 125 1.16 0.27 77 55 347 81
Socavon 5.0 97 29 0.54 1.37 16 5 59 152
ALL 34.2 142 91 0.82 0.57 155 100 618 431
Silver Mantos 4.1 115 58 0.78 0.83 15 8 71 76
Mantos Basement 1.5 107 78 0.64 0.14 5 4 22 5
Socavon 7.3 79 33 0.37 0.91 18 8 59 146
Socavon Basement 20.0 79 39 0.39 0.73 51 25 170 321
ALL 32.9 85 42 0.44 0.76 90 44 322 548

Notes to Tables 1,2 and 3:

  • Totals may not add correctly due to rounding
  • Mineral resources are contained within a pit shell generated using a silver equivalent price of $25/oz.
  • Silver equivalent calculated using the formula: AgEq = Ag g/t + (Pb% * 36.09) + (Zn% * 36.09)
  • Silver equivalent grades, and the base case cut-off grade of 45g/t AgEq, are based on metal prices of $19/oz silver and $1/lb for lead and zinc.
  • Recovery is assumed as 90% silver equivalent.
  • Mineral resources, which are not mineral reserves, do not have demonstrated economic viability.
  • The quantity and grade of reported Inferred resources are uncertain in nature and there has been insufficient exploration to classify these inferred resources as Indicated or Measured, and it is uncertain if further exploration will result in upgrading them to an Indicated or Measured category.

Table 2. Comparison of the new Mineral Resource Estimate with the July 31, 2015 Estimate

Date Mtonnes AgEq
Measured + Indicated
April 2016 34.2 142 91 0.82 0.57 155 100 618 431
July 2015 25.9 125 77 0.66 0.66 104 64 379 379
April 2016 32.9 85 42 0.44 0.76 90 44 322 548
July 2015 47.2 92 50 0.52 0.64 140 76 544 661

Table 3. Sensitivity of Resources to Cut-Off Grade

Cut-off AgEq (g/t) Mtonnes AgEq
Measured and Indicated
30 38.5 130 83 0.75 0.53 161 103 640 453
40 35.5 138 89 0.80 0.56 157 101 625 439
45 34.2 142 91 0.82 0.57 155 100 618 431
50 32.6 146 94 0.85 0.58 153 99 608 420
60 29.7 155 101 0.90 0.60 148 96 587 394
70 27.0 164 107 0.95 0.61 142 93 564 365
80 24.4 173 115 1.00 0.62 136 90 538 334
90 21.9 183 123 1.06 0.62 129 86 510 301
100 19.6 194 131 1.12 0.62 122 83 482 270
110 17.5 204 139 1.17 0.62 115 79 453 241
120 15.6 215 148 1.23 0.62 108 75 423 213
130 13.9 226 158 1.29 0.61 101 71 394 187
140 12.4 238 167 1.34 0.60 95 67 367 165
150 11.0 249 177 1.40 0.59 88 63 341 143
160 9.8 260 187 1.46 0.58 82 59 316 126
170 8.8 272 197 1.51 0.57 77 55 293 111
30 40.6 76 37 0.40 0.67 99 49 355 602
40 35.5 82 40 0.43 0.73 94 46 335 572
45 32.9 85 42 0.44 0.76 90 44 322 548
50 30.1 89 44 0.46 0.78 86 42 307 517
60 24.1 97 49 0.51 0.83 75 38 271 440
70 18.4 107 54 0.57 0.88 63 32 230 359
80 13.6 118 61 0.63 0.94 52 27 190 282
90 10.2 129 69 0.71 0.98 42 22 158 219
100 7.6 141 76 0.79 1.01 34 19 132 170
110 5.8 153 83 0.87 1.05 28 15 111 133
120 4.4 164 91 0.98 1.05 23 13 95 102
130 3.5 175 98 1.08 1.05 19 11 82 80
140 2.7 186 105 1.18 1.07 16 9 71 65
150 2.2 195 110 1.29 1.08 14 8 63 53
160 1.8 205 116 1.40 1.08 12 7 55 42
170 1.4 216 122 1.53 1.09 10 6 47 34

Chinchillas Geology Overview

Golden Arrow holds a 100% interest in the Chinchillas project, located in the prolific Bolivian silver-zinc-tin belt which extends into northern Argentina.

Chinchillas is a Tertiary aged volcanic complex that has erupted through the Paleozoic basement schists. The resulting depression or basin, filled with volcanic tuffs and tuff breccias. Shallow disseminated silver, lead and zinc mineralization occurs in thick layers or "mantos" within the tuffs and breccias. A second style of silver, lead and zinc mineralization occurs within the fractures of the brecciated Ordivician basement pelite and sandstone schists beneath.

Silver-lead-zinc mineralization included within the resource model occurs in four units which are differentiated based on host rock and geometry. Mineralization occurs in four main zones: to the west the Silver Mantos area includes the Silver Mantos tuff-hosted zone and the Mantos Basement zone; to the east the Socavon del Diablo area includes the Socavon tuff-hosted zone and the Socavon Basement zone, with the Socavon also including some mineralization hosted in dacite intrusions.


The resource estimate was based on data from 276 diamond drill (core) holes containing 34,510 sample assays, with sample data dating to 2007. The majority of drilling on the property has been conducted by Golden Arrow since 2012. A total of 115 new drill holes were added to the database since the previous resource estimate was generated in August 2014.

The mineral resource has been estimated in conformity with generally accepted CIM Estimation of Mineral Resources and Mineral Reserves Best Practices Guidelines (November, 2003) and reported according to the CIM Definition Standards for Mineral Resources and Mineral Reserves, (May, 2014) in accordance with the Canadian Securities Administrators' (CSA) National Instrument 43-101 (NI 43-101).

Estimations are made from 3D block models based on geostatistical applications using commercial mine planning software (MineSight® v10.6). The model uses a nominal block size of 8 x 8 x 4 m (LxWxH).

The resource estimate has been generated from drill hole sample assay results and the interpretation of a geologic model which relates to the spatial distribution of silver, lead and zinc. Interpolation characteristics were defined based on the geology, drill hole spacing, and geostatistical analysis of the data. The resources were classified according to their proximity to sample data locations related to drill hole spacing.

Due to the polymetallic nature of the deposit, mineral resources were calculated on a silver-equivalent basis (AgEq) using the formula: AgEq = Ag g/t + (Pb% * 36.09) + (Zn% * 36.09). Silver equivalents (AgEq) are calculated in model blocks, for use in the floating cone algorithm, using the contributions of silver, lead and zinc and include adjustments for metallurgical recoveries. There are no adjustments for mining losses or dilution. Since this is a resource limiting pit shell, and the fact that mineral resources must show reasonable prospects for eventual economic extraction, an elevated silver price of $25 per ounce is used to generate the pit shell.

The following technical and economic parameters were used (all prices are in US dollars):

  • Metal prices for Silver Equivalent calculation: silver $19/oz, lead $1/lb, zinc $1/lb
  • Metal price used to generate resource limiting pit shell: silver equivalent $25/oz
  • Recoveries: 90% silver equivalent.
  • Mining cost: $2.45/t
  • Process cost: $16/t
  • G&A: $8.30/t
  • Pit slope: 45 degrees

Based on a $19/oz silver price, the base cut-off grade for the resource is estimated to be 45 g/t silver equivalent.

Quality Assurance and Quality Control

The samples were collected and analyzed in accordance with industry standard practice. The majority of samples analyses were completed by Alex Stewart Assayers, in Mendoza, Argentina, an ISO 9001:2008 and ISO14001: 2004 certified laboratory. All samples were analyzed by method ICP-MA-39 that consists of a four acid digestion followed by ICP-OES detection. Silver results greater than 200 Ag g/t were re-analyzed by fire assay with a gravimetric finish on 50-gram samples. Lead and zinc results greater than 10,000 ppm were re-analyzed by a 3 acid digestion and ICP-OES detection. A small percentage of samples were analysed by ALS Minerals in Mendoza, Argentina. All samples were analyzed by method ME-ICP61 that consists of a four acid digestion followed by ICP-OES detection. Silver results >100 g/t Ag were re-analyzed by fire assay with a gravimetric finish on 50-gram samples. Lead and zinc results >10,000 ppm were re-analyzed by method OG62 that consists of a 4 acids digestion and ICP-OES or AAS detection. A quality assurance/quality control (QA/QC) program following industry standard practices was incorporated with the assay program. It consisted of blank, duplicate and standard samples inserted into the drill core sample sequence sent to the laboratory for analysis.

Qualified Persons

The mineral resource estimate and associated information in this news release was prepared under the direction of Robert Sim, P.Geo, SIM Geological Inc. (SGI), with the assistance of Bruce Davis, FAusIMM, BD Resource Consulting, Inc. and input from Brian McEwen, P.Geol. VP Exploration and Development to the Company. Based on education, work experience relevant to this style of mineralization and deposit type, and membership in a recognized professional organization, both Mr. Sim and Mr. Davis are independent Qualified Persons (QP) and Mr. McEwen is a non-independent QP, within the requirements of NI 43-101 for the purpose of the mineral resource estimate contained in this release.

The contents of the news release have been reviewed and approved by Mr. McEwen.

About Golden Arrow:

Golden Arrow Resources is a Vancouver-based exploration company focused on creating value by making precious and base metal discoveries and advancing them into exceptional deposits. The Company is currently focused on its Chinchillas Silver Project located in the mining-friendly Province of Jujuy, Argentina. Exploration has progressed rapidly since the acquisition of the project in late 2011. The innovative transaction announced October 1st 2015, positions the Company to maximize shareholder value by fast-tracking Chinchillas to production and becoming a 25% owner of the Pirquitas silver mine.


Mr. Joseph Grosso, Executive Chairman, President, CEO and Director

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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


This news release contains "forward-looking statements" within the meaning of Canadian securities legislation. Such forward-looking statements concern the Company's anticipated results and developments in the Company's operations in future periods, planned exploration and development of the Chinchillas project, plans related to its business and other matters that may occur in the future. Statements concerning mineral resource estimates and the interpretation of drill results may also constitute forward-looking statements to the extent that they involve estimates of the mineralization that will be encountered if the Chinchillas project is developed. These statements are based on a number of assumptions which may prove to be incorrect, including, but not limited to, assumptions about the following: assumptions made in the Chinchillas Mineral Resource Estimate, including geological interpretation, grade, recovery rates, silver, zinc and lead price assumptions and operating costs; the availability of financing for exploration and development activities, including Silver Standard Resources Inc. ("SSRI") meeting certain milestones and exercising its election to proceed with the transactions contemplated under the Business Combination Agreement dated September 30, 2015 among the Company, SSRI and certain other parties; the Company's ability to attract and retain skilled staff; the Chinchillas project development schedule; the exchange rates of the Canadian dollar and United States dollar to the Argentina peso; market competition; ongoing relations with impacted communities; and general business and economic conditions.

Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the forward-looking statements, including, without limitation: risks related to precious and base metal price fluctuations; risks related to the transactions contemplated by the Business Combination Agreement; risks related to fluctuations in the currency markets (particularly the Argentinean peso, Canadian dollar and United States dollar); risks related to the inherently dangerous activity of mining, including conditions or events beyond our control, and operating or technical difficulties in mineral exploration, development and mining activities; uncertainty in the Company's ability to raise financing and fund the development of the Chinchillas project, including as recommended in the Chinchillas Mineral Resource Estimate; uncertainty as to actual capital costs, operating costs, production and economic returns, and uncertainty that development activities will result in a profitable mining operation at Chinchillas; risks related to mineral resource figures being estimates based on interpretations and assumptions which may result in less mineral production under actual conditions than is currently estimated and to diminishing quantities or grades of mineral resources as properties are mined; risks related to governmental regulations and obtaining necessary licenses and permits; risks related to the business being subject to environmental laws and regulations which may increase costs of doing business and restrict our operations; risks related to the Chinchillas project being subject to prior unregistered agreements, transfers, or claims and other defects in title; risks relating to inadequate insurance or inability to obtain insurance; risks related to potential litigation; risks related to the global economy; and risks related to the Chinchillas project being located in Argentina, including political, economic, social and regulatory instability. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking statements. The Company's forward-looking statements are based on beliefs, expectations and opinions of management on the date the statements are made. For the reasons set forth above, investors should not place undue reliance on forward-looking statements.

The information provided in this news release addresses the drill results from the Chinchillas project and is not intended to be a comprehensive review of all matters and developments concerning the Company. It should be read in conjunction with all other disclosure documents of the Company. The information contained herein is not a substitute for detailed investigation or analysis. No securities commission or regulatory authority has reviewed the accuracy or adequacy of the information presented. The Company undertakes no obligation to publicly update or revise any forward-looking statements other than as required under applicable law.

We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. 


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