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Monday, August 31, 2009

Canasia Industries Corporation: Visible Gold Intersected at Clone Property

Canasia Industries Corporation announce that the first phase of drilling on the Clone gold property, situated 18km southeast of Stewart, BC, is complete. The Clone property is host to at least four separate, parallel gold-bearing shear zones which contain both sulphide-gold-cobalt and iron oxide-gold mineralization.

Altogether 20 holes were drilled testing a variety of targets along these shear zones that have been traced for over a kilometer in strike length. In Holes #15 to #20 inclusive, sections from 15 to 30 feet long contain semi-massive to massive hematite, specularite, chlorite, malachite, chalcopyrite with visible gold. The mineralized zones tend to be associated with more silicified, fine-grained to aphanitic andesites intercalated with pyroclastics.

Core logging is under way and the first two batches of samples have been sent to the assay lab. Sections with visible gold have been sent in for rush assay.

Based on the positive results in this drilling, a second phase of drilling is expected to start within a matter of days.

Graeme Sewell, a director of Canasia stated, "It is exciting to have discovered visible gold in the core. These cores have now been rushed for assaying and we expect to receive the results within 2-6 weeks. Based on the visible gold sightings, the next phase of the drilling has been called for immediately. This prospect is in a historically rich mining region."

E.R. Kruchkowski, P. Geol., is the Qualified Person for the Clone project and has read and authorized this news release. Pioneer Laboratories of Richmond, BC, an accredited facility, is performing the analyses.

MPH Ventures Issues Shares to Rubicon Minerals, Updated NI 43-101 Resource Calculation to be Completed

MPH Ventures Corp. announces that it has issued 25,000 common shares in connection with its Property Option Agreement dated November 15, 2007 with Rubicon Minerals Corp. whereby the Company has been granted an option to earn a 100% interest, subject to a 2% net smelter return royalty, in the Echo Township property located in the Patricia Mining Division, northwestern Ontario (the "Property"). The Property surrounds and forms part of the Company's 3400 acres Pidgeon Molybdenum Deposit project.

The common shares issued are subject to a four month hold period under applicable securities laws, and imposed by the TSX Venture Exchange, expiring December 27, 2009.

In order to earn a 100% interest in the Property, the Company must make further cash payments of $60,000 and issue 50,000 common shares over the remaining two year term of the Agreement.

This Property was acquired as part of the land holdings surrounding the core patented Pidgeon Molybdenum Deposit claims MPH Ventures purchased from BHP Billiton and Goldcorp in November 2007. It is the Company's intention to continue to advance this project as the price of molybdenum continues to rebound.

MPH Ventures believes molybdenum prices will continue to strengthen through the rest of this year and well into 2010. In the near term, the Company will be commissioning an updated NI 43-101 compliant resource calculation along with recommendations to further increase the size of the Pidgeon Molybdenum surface deposit.

MPH Ventures Corp. is a gold and molybdenum exploration company focused on mineral development within Canada.

For further information on MPH Ventures Corp. visit the Company's web site at www.mphventurescorp.com .

Romios Provides a Status Report on the Drill Program on Its Trek Property in British Columbia

The management of Romios Gold Resources Inc., a progressive Canadian mineral exploration company established in 1995, is headquartered in Toronto and is actively engaged in precious and base metal exploration across North America with a primary focus on gold, silver and copper, provide a status report on the exploration program on its Trek property in northwestern British Columbia that was announced in a Press Release dated June 1, 2009 wherein the Company stated that the cost of a combined program on its Newmont Lake and Trek properties was estimated at $1.50 million and would consist essentially of diamond drilling.

At the Trek property, seven holes have been completed since a press release dated July 24, 2009 was issued by the Corporation. To date, a total of nine holes, totaling 2,370 metres, have been drilled on the Trek property during the 2009 summer program.

Hole TRK09-03 was drilled to a total depth of 174.0 metres (570 feet), and encountered a 10-meter interval of fracture-controlled pyrite-chalcopyrite mineralization 115 meters below a surface exposure of visually similar mineralization at the Northeast Zone.

Hole TRK-09-04 encountered trace mineralization within zones of chlorite-silica alteration adjacent to TRK09-02 at the Upper Northeast Zone.

Hole TRK09-05 was drilled to a depth of 399 meters (1308.72 feet), approximately 200 meters from the North Zone mineralization that was encountered in the 2008 diamond drill program (see Press Release dated December 4, 2008). This hole was designed to test a vertical gradient airborne magnetic anomaly that trends eastward from the North Zone. The hole encountered extensive faulting and shearing in bedrock characterized by pervasive malachite staining from surface to 120 meters (393.6 feet) in the hole. Chalcopyrite occurs in two primary zones below the surface zone, from 160.0 to 185.0 meters (49.2 feet) and from 269.5 to 386.0 meters (382.12 feet) in a highly altered feldspar-phyric volcanic rock. The sulphide content is variable within these mineralized sections with chalcopyrite ranging from 0.1% to 3.5%, and pyrite from 1.0% to 20% by volume.

TRK09-06 was collared approximately 65 meters south west of hole TRK09-01 and drilled to a depth of 309 meters (1013 feet). The purpose of the hole was to extend the zone of copper-gold mineralization encountered in drill holes TRK08-02 and TRK08-03 drilled during the previous summer and to obtain information that could provide a clearer understanding of the geometry and attitude of the copper-gold mineralization. Essentially, the hole intersected a volcaniclastic unit with minor faults associated with iron-carbonate veins towards the top of the hole. A 1.5 meter (4.92 feet) lens of massive pyrite was encountered from 73.5 - 75.0 meters. As in hole TRK-09-05, variable amounts of disseminated and fracture-controlled pyrite and chalcopyrite ranging up to 3% in content by volume, was encountered over an interval of 118.8 meters (389.7 feet) between 111.0 to 229.8 meters in the hole.

Hole TRK09-07 was collared 100 meters west of hole TRK09-06 and was abandoned at 201 meters (659 feet) due to highly fractured ground conditions. The hole intersected a sequence of feldspar-phyric volcanic rocks within which two breccia zones contained variable quantities of chalcopyrite. The first zone, a 4.01 meter (13.15 feet) section was encountered from 110.52 to 114.53 and the second zone, a 23.3 meter (76.4 feet) section was encountered from 168.6 to 191.9 meters in the hole.

TRK09-08 is the first hole to target the roots of the exposed breccia swarm at the Trek deposit. The hole was collared south of TRK09-07, west of TRK08-04, and reached a length of 240 m (787 feet). Drilling revealed a succession of varying breccia styles, including a tourmaline-cemented tectonic breccia, with predominantly disseminated pyrite mineralization occurring in the host rock.

The final hole drilled at the Trek deposit was TRK09-09. The hole was collared 100 meters north of TRK09-05. Sericitized and potassically altered basalt and feldspar-phyric volcanic rocks similar to TRK09-05 were encountered. Drilled to a depth of 435 meters (1427 feet), TRK09-09 revealed trace chalcopyrite for over 423 meters (1387 feet), with intervals near 130 meters depth (426.4 feet) containing chalcopyrite veins up to 3.0 cm thick.

All of the holes completed on the Trek Property have been submitted for chemical analyses. The results of these analyses will be reported publicly when received and reviewed by the Company.

As a matter of procedure, the mineralized intervals of drill core will be split in the field using an electric-powered core saw and bagged using security seals. The samples will then be delivered to ALS Chemex Laboratories in Vancouver for analysis. In addition to the laboratory's quality control program, a rigorous on-site quality assurance and quality control program will be implemented involving the insertion of blanks, standards and splits to ensure reliable assay results.

Orvana Announces Expiry of Bid and Additional Take Up of Kinbauri Shares

Orvana Minerals Corp., a well-established mine operator with an experienced management team that has collectively brought a number of underground mines into production announced that, prior to the expiry of its offer to purchase all of the outstanding common shares of Kinbauri at 11:59 p.m. (Vancouver time) on August 28, 2009, an additional 19,227,637 shares were validly tendered to the offer. Orvana has taken up the additional shares tendered, bringing the total number of shares acquired by Orvana pursuant to its offer to 61,733,445. Based on the number of Kinbauri common shares outstanding on August 28, 2009, as reported by Kinbauri's transfer agent, in the aggregate, the shares taken up by Orvana represent approximately 94.9% of Kinbauri's issued and outstanding common shares.

"We are very pleased that Kinbauri's shareholders have chosen overwhelmingly to support Orvana's offer," said Kent Jespersen, the Chairman of Orvana's board of directors.

In connection with Orvana's acquisition of Kinbauri common shares, Kinbauri's former directors have resigned and have been replaced by individuals who are directors or officers of Orvana. Kinbauri's board of directors is now comprised of Peter Bradshaw, Richard Garnett, Kent Jespersen, Malcolm King and Robert Mitchell.

Kinbauri is proceeding with its previously announced shareholders' meeting on September 22, 2009. At this meeting, Kinbauri shareholders will be asked to approve the amalgamation of Kinbauri and Orvana Minerals Acquisition Corp. The corporation resulting from the proposed amalgamation will be a wholly-owned subsidiary of Orvana Minerals Corp. As a result of the amalgamation, Kinbauri shareholders other than Orvana Minerals Acquisition Corp. and any shareholders who exercise statutory dissent rights will be entitled to receive $0.75 for each Kinbauri common share held by them. Orvana intends to vote in favour of the proposed amalgamation. It is anticipated that the corporation resulting from the amalgamation will take steps to delist its shares from trading on the TSX Venture Exchange and to cease to be a reporting issuer under applicable securities laws.

Blue Note Mining Mobilizes Drill Rig on Williams Brook Gold Property

Blue Note Mining Inc., a Canadian mineral exploration and mining company headquartered in Montreal with operations in Bathurst, New Brunswick reports that it has engaged Logan Drilling of Stewiacke, Nova Scotia, to begin a 10-hole drilling program on Blue Note's Williams Brook Gold property located near Bathurst, New Brunswick.

The aim of this drill campaign is to further define the grade, frequency and geometry of gold-bearing quartz veins at the Williams Brook Gold property. Blue Note believes the best opportunity to add to shareholder value is to focus its fall exploration program on its 100-percent owned Williams Brook gold property in Bathurst, New Brunswick, Canada.

As news released on December 10, 2008, Blue Note made a significant gold discovery on its Williams Brook property in late 2008. Drill hole WB-08-11 returned 2.8 meters assaying 11.2 grams of gold per tonne including a half meter section assaying 24.1 grams of gold per tonne. The gold mineralization was intersected just 15 meters vertical from surface.

"Previous diamond drilling at the site was largely guided by geophysical trends. Recent stripping of overburden in the vicinity of known high grade gold occurrences has identified mineralized veins trending oblique to the typical geophysical patterns, so the earlier drilling hit some veins but missed others that occur nearby." stated Arthur Hamilton, P.Geo., Regional Exploration Manager.

Blue Note also holds a 100% interest in over 400 square kilometers of mineral claim properties in the region surrounding the Williams Brook property that is considered prospective for new gold discoveries. These claims will be the focus of exploration over the next 12 months as Blue Note learns more about the Williams Brook area. Blue Note also holds a number of base metal exploration claims in the world renowned Bathurst mining camp.

Friday, August 28, 2009

Geo Minerals Acquires Two Additional Copper Porphyry Prospects in Arizona

GEO MINERALS LTD. announce that it has executed a lease-option agreement with Bronco Creek Exploration Inc. ("BCE") to earn a 100% interest on the Copper Springs and Silver Bell West porphyry copper projects, both located in south-central Arizona.

The Copper Springs property, located approximately 90 miles east of Phoenix, consists of 216 mining claims and 640 acres of fee land for a total of more than 5,000 acres in the Globe-Miami District - home to current mining operations by Quadra, BHP Billiton, Freeport-McMoRan, and others. The Silver Bell West property, located roughly 30 miles northwest of Tucson, consists of 188 mining claims on more than 3,700 acres immediately adjacent to Asarco's active Silver Bell Mine. The acquisition of these two properties prominently positions the Company in two classic Arizona mining districts where Geo believes reinterpretations of district geology by BCE geologists presents the opportunity for significant new porphyry copper discoveries.

The Copper Springs project is the product of several years of research by BCE geologists in the Globe-Miami District that has a combined production and reserves of approximately 16Mt of copper metal. New geologic work has led to the recognition that the district's known copper deposits are the faulted and tilted portions of a cluster of large porphyry copper-molybdenum systems centered on a Laramide-age granitic pluton. Of the porphyry centers identified in the district, a southern center (The Copper Springs porphyry) has the largest root footprint and the largest, most productive capping vein system (approximately 10.5Mt at approximately 5%Cu production and approximately 67Mt at approximately 1.3%Cu resources) of any other in the district. Through the application of these and other new geologic insights, BCE has further recognized that the structural blocks that contain the central portion of the southernmost system are projected to lie beneath gravel cover within the BCE property position. The primary exploration targets are structural blocks analogous to the main Miami-Inspiration deposits (approximately 10Mt Cu production/resources) that include the buried Miami East deposit just north of the Copper Springs property (reported by Long in 1996 to contain 181Mt at 1.35% copper). These blocks lie at intermediate to higher structural levels within the Copper Springs porphyry center and target mineral assemblages suspected to contain higher primary copper grades within reactive hosts rocks and favorable conditions for supergene enrichment. A first-stage drill test by Geo is slated for fall 2009, with BCE serving as initial operator.

At the Silver Bell West property, Geo is targeting porphyry copper and copper skarn mineralization in structurally down dropped blocks lying adjacent to exposed mineralization currently being exploited by Asarco.

The Silver Bell District has produced more than 176 Mt at an average grade of 0.63% copper from skarn, secondary enrichment blankets, and oxide copper deposits associated with a Laramide porphyry copper system, and had 1990 reserves reported in Long, 1995 of 185Mt at 0.61% copper. Field work conducted by BCE geologists in 2007 revealed several lines of evidence pointing to multiple target areas within two, largely untested zones of possible skarn and porphyry-style copper mineralization. Zone 1 lies in the southeast portion of the property, where copper-rich skarn mineralization hosted in Paleozoic carbonate-rich units and related porphyry-style mineralization are projected to underlie outcropping mineralized rocks composed of quartz-chalcopyrite vein swarms in Laramide igneous rocks and gold-bearing chalcopyrite-chlorite-specularite +/- quartz veins in Mesozoic sedimentary rocks in the adjacent contact aureole. Zone 2 comprises the western portion of the property, where new alteration mapping combined with the faulted and offset portions of structural blocks interpreted to contain the known trends of porphyry copper and skarn mineralization project beneath cover rocks to the west of outcroping mineralization. Ten drill sites have been permitted on the property, and Geo intends on conducting a first-round of drill test of Zone 1 in 2009, with BCE serving as initial operator.

Terms for Copper Springs are for Geo to incur $2,750,000 in work expenditures, pay cumulative advanced royalty payments of $505,000, issue a total of 3 million common shares plus issue 1.2 million warrants over the 5 year term of the agreement. A royalty of 2.5% with a provision to buy back 0.25% for $1.5 million anytime before a feasibility study and a further 0.25% buy back for $3.5 million any time prior to production will apply.

Terms for Silver Bell are for Geo to incur $2,000,000 in work expenditures, pay cumulative advanced royalty payments of $505,000, issue a total of 800,000 common shares over the 5 year term of the agreement as well as grant a royalty of 2.5% with a provision to buy back 0.50% for $1million by the seventh anniversary.

Dana Resources Evaluating Joint Venture Opportunities on Base Metals Assets

Dana Resources, a US-based precious metals exploration and development company, is pleased to announce it is meeting with joint venture candidates about Dana Resources' base metals projects. Dana Resources currently owns and operates seven mining projects located in Peru's most prolific mining regions.

Dana Resources owns two advanced staged base metal projects, Las Horquetas and Turmalina. The Las Horquetas project is located in the copper-gold belt northeast of the Tambo Grande deposits and had a joint venture with BHP Billiton in 2001. BHP Billiton's proprietary Falcon survey was flown over the project. Samples of 5.39 grams per ton gold and 5.71% copper have been assayed. Turmalina is Dana Resources' other advanced staged base metals project. The Turmalina project is located in Northern Peru and as of 2007, existing high grade reserves were 305,586 tons of 2.5% copper (15 million pounds of copper). Dana Resources believes the Turmalina Project initially has a copper potential of over 660 million pounds, valued at approximately $1.9 billion.

Dana Resources plans to focus time and funding on the production process at the Collota Gold Deposit. Due to the current high demand for both gold and copper, management believes that successful joint venture relationships will expedite the development and production potential at both Turmalina and Las Horquetas. Bringing both gold and copper for sale in a high commodity price environment is financially advantageous for Dana Resources.

With some of the richest mineral reserves in the world, Peru is one of the highest producing countries of precious & base metals in Latin America. Previously inaccessible regions are now becoming available through modern technology and equipment, making the high diversity of marketable minerals an extremely attractive prospect. In total, Peru holds about 16 percent of the world's known mineral reserves.

North Bay Resources Inc. Completes Coronation Gold Joint-Venture Agreement

North Bay Resources Inc. announce that it has finalized and signed a contract with Lincoln Resources Inc. ("Lincoln"), a private Nevada corporation, to enter into a joint-venture for the development of North Bay's Coronation Gold Property.

Terms of the agreement call for Lincoln to commit up to $1.5 million CDN over three years for exploration expenses, developmental drilling, and surface ore recovery, with a minimum expenditure of $250,000 during the first year. Upon completion of the work program and fulfillment of all the terms of the agreement, North Bay and Lincoln will each own 50% of the Coronation Gold Property, and will equally share any and all net revenue, including any near-term profits generated from surface ore recovery operations. It is expected that a portion of any profits will be re-invested in ongoing development work on the Coronation's underground resources. In addition, North Bay has received an initial cash payment of $12,500 CDN from Lincoln, less a $2,500 CDN finders fee paid to an independent third party.

Coronation Gold is located near Memphis Creek, 6 kilometres northeast of Slocan in southeastern British Columbia. The property covers 309 acres over several reverted crown grants and includes four other past-producing mines; the Colorado, the V&M, the Senator, and the Homestake mines, in addition to the Coronation. Primary mineralization is gold, silver, zinc, and lead. The highest combined historical (post-production) assays are 16.8 grams (0.54 ounces) per tonne gold, 6000 grams (192 ounces) per tonne silver, 10.9% zinc, and 1.2% lead. Past-production at the Coronation has been documented to be as much as 13,000 grams (418 ounces) per tonne silver and 20% lead, while past-production at the Homestake mine averaged 23.3 grams (0.75 ounces) per tonne gold, 2611 grams (83.95 ounces) per tonne silver, 1.33% lead and 1.52% zinc.

Macarthur Minerals Completes Acquisition of Interest in Lake Giles Project From LPD Holdings (Aust) Pty Ltd.

Macarthur Minerals Limited has now completed the acquisition of a 10% interest in Internickel Australia Pty Ltd. (IAPL) from LPD Holdings (Aust) Pty Ltd. (LPD) in exchange for the issuance of 1,572,326 common shares in Macarthur Minerals Limited (MMS) at a deemed price of C$2.12 per common share. The shares will be subject to a four month hold period under applicable securities laws and the policies of TSX Venture Exchange expiring on December 27, 2009.

The transaction forms a part of the Company's reacquisition of a 30% interest in IAPL, as previously disclosed in the Company's press releases of June 3, 2009 and August 14, 2009. The remaining 20% of IAPL held by Minmetals Mining Corporation Limited (MMCL) is in the process of being acquired by MMS in exchange for the issuance of 3,144,654 common shares in MMS to MMCL at a deemed price of C$2.12 per common share.

Upon completion of the transaction with MMCL, MMS will hold a 100% interest in IAPL and the Lakes Giles project. Completion of the MMCL transaction remains subject to all necessary regulatory approvals being obtained, including that of the TSX Venture Exchange.

Thursday, August 27, 2009

Dutch Gold Resources Announces Drilling Plans for Aultra Gold, Inc. Montana Projects, Progress on NI 43-101 Report

Dutch Gold Resources, Inc. outlined its near term plans for the initial development of the Montana and Nevada projects of the Aultra Gold, Inc transaction.

Daniel Hollis, CEO of Dutch Gold Resources, stated, "After the closing in September of the Aultra Gold transaction, we expect to commence a bulk sampling program at the Basin Gulch project upon regulatory approval. We expect to receive the NI 43-101 compliant reserve report within the next three weeks and believe that it will be instructional as to additional drilling targets."

Said Mr. Rauno Perttu, CEO of Aultra Gold, Inc., and an accomplished geologist, "There is much left to explore and develop in the Montana property. The most exciting target on the property is a nested diatreme complex (overlapping volcanic breccia pipes) that extends over a minimal area of 2,600 feet by 3,300 feet. This diatreme complex has not been drilled to depth, and may contain high-grade gold and silver mineralization in a deeper 'boiling zone.' The diatreme complex is characterized by overall low-grade gold and silver mineralization and local high-grade mineralization. Nearby shallow much smaller diatreme zones appear to be adjacent outliers to the main diatreme complex. These outliers are associated with an inferred controlling fault zone that may also be an important control for the main diatreme and for some of the inferred veins. Two of these smaller diatreme in the fault zone appear to contain near-surface 'boiling zones,' and contain high-grade gold and silver mineralization that appears to have been associated with a boiling zone."

The Company intends to further explore other opportunities in Montana, based in part, on Mr. Perttu's extensive experience, and the number of potential high value projects located in the state. Added Mr. Perttu, "We already have a large commitment to the Basin Gulch project and believe that we will build a cluster of projects within the state."

Dana Resources Evaluating Several New Gold Prospects Situated Between Its Collota Gold Deposit and Barricks Pierina Mine

Dana Resources, a US-based precious metals exploration and development company, is pleased to announce that it is currently evaluating gold prospects within close proximity to its 1.17 million ounce Collota gold deposit. Dana Resources currently owns and operates seven mining projects located in Peru's most prolific mining regions.

Dana Resources is currently evaluating several prospects located between the Collota gold deposit and Barrick's world famous Pierina mine (originally hosting over 5.2 million ounces of gold and producing as much as 500,000 ounces of gold in 2006). The Collota gold deposit is positioned in the same trend as the Pierina mine. The prospects being evaluated are located in Northern Peru in the region of Ancash. Elevations range from 4,000m to 4,700m.

Dana Resources has a 100% ownership of the 1.17 million ounce Collota Gold Deposit and a 100% ownership of the neighbouring Collota One Gold Prospect. The acquisition of the Collota One Gold Prospect increased Dana Resources' land holdings surrounding the deposit to surpass 8,000 acres. Dana Resources plans to further enhance their land holdings in this area through the acquisition of additional gold projects.

Dana Resources plans to mine the Collota Gold Deposit and adjacent holdings as an open-pit mine to a maximum depth of 50m. The acquisition of additional qualifying prospects can substantially increase the size of the existing deposit to be processed in the mine.

The Board of Directors commented, "Expanding our land holdings around our gold deposit at this time is important due to the fact we are planning to enter into the permitting stages of the Collota Gold Deposit and its adjacent land prospects for production."

With some of the richest mineral reserves in the world, Peru is one of the highest producing countries of precious & base metals in Latin America. Previously inaccessible regions are now becoming available through modern technology and equipment, making the high diversity of marketable minerals an extremely attractive prospect. In total, Peru holds about 16 percent of the world's known mineral reserves.

Quaterra Signs Earn-In Agreement With Freeport-McMoRan Exploration Corporation for Peg Leg Copper Project in Arizona

Quaterra Resources Inc. a junior exploration company focused on making significant mineral discoveries in North America announced it has signed an earn-in agreement with Freeport-McMoRan Exploration Corporation of Phoenix, Arizona (FMEC), for the Company's Peg Leg copper project in Arizona.

In the terms of the agreement, FMEC has the exclusive right and option to acquire a 70% ownership interest in the Peg Leg project by paying the 2009 BLM claim maintenance fees and spending US$3 million on exploration by December 31, 2012. Except for the 2009 claim maintenance fees, which are a firm commitment, all other exploration expenditures are optional.

Upon FMEC earning a 70% interest in the Peg Leg project, the parties have agreed to joint venture the further exploration and, if warranted, development of the Project on a 70/30 basis. The joint venture will be on standard terms including dilution for failure to contribute a party's share of costs. FMEC will be the initial operator under the joint venture.

The Peg Leg porphyry copper prospect is located in south-central Arizona along the western flank of the Tortilla Mountains, 20 miles east of the Poston Butte copper deposit and 12 miles south of the Ray porphyry copper deposit. This region has the highest density of known porphyry copper deposits in the world. The primary target is a classic San Manuel-Kalamazoo type deposit with the possibility of higher copper grades associated with either a classic chalcocite blanket, or with abundant diabase as at Ray.

Quaterra controls approximately 11 square miles of mineral rights over the prospect, including 247 unpatented U.S. lode claims and three Arizona State prospecting permits. A prominent feature of the prospect is a large IP (chargeability high, resistivity low) geophysical anomaly that extends over an area of 10 square miles, a major part of which has not been drill-tested.

Five core drill holes totalling 11,726 feet were drilled by Exxon Minerals in the early 1980s. They ranged in depth from 1,948 to 3,283 feet and targeted a small part of the anomaly where they encountered alteration and low grade copper mineralization interpreted to represent the margins of a large porphyry copper system. The large size of the target and the structural complexity of the area suggest that shallower oxide and/or sulfide mineralization also may be present.

FMEC's parent company, Freeport-McMoRan Copper & Gold Inc. (FCX), is the world's largest publicly-traded copper company.

Yellowjacket Mine Achieves Full Commercial Production, New Gold Zone Discovered

Yellowjacket Joint Venture (“Eagle Plains Resources Ltd. (EPL:TSX-V) and Prize Mining Corp. (PRZ:TSX-V)”) jointly announce completion of final commissioning and permit compliance requirements to allow for commencement of full production at their Yellowjacket Gold Mine, located in northwestern British Columbia. On July 10, 2009, the Yellowjacket Gold Mine received its BC Mines Act Permit for the development and operation of an open pit gold mine and onsite concentrator processing up to 75,000 tonnes per year of gold ore.

Work completed since receiving permit approvals includes construction of a newly designed tailings storage facility and pipeline, emplacement of environmental monitoring wells, mine pit dewatering, ramp construction, mill commissioning and electrical upgrades.

The 2009 mining plan includes extraction of a minimum of 32,000 tonnes of gold ore from the existing open pit. Pit excavation is anticipated to be completed in about 5 weeks, and milling at a throughput rate of 350 tons per day expected to continue until mid-late October.

New Gold Zone Discovered During Ramp Excavation

During ramp excavation completed earlier this month, a previously undetected six meter-wide gold-mineralized zone was discovered centered around a one metre-wide, visible-gold-bearing silicified breccia. Sampling and excavation of this new zone is currently underway and will provide additional mineralized material for this season’s milling operations.

Linda Dandy, P.Geo., Mine Manager, is the "Qualified Person" for the purpose of National Instrument 43-101, has reviewed and verified the technical contents of this news release.

A detailed history of the project and recently updated photo-gallery may be found here

Updated Ownership Details of Yellowjacket Joint Venture

Due to unexpected lower grades of stockpiled material from 2008 bulk sample work, equipment problems and unforeseen circumstances that resulted from permitting of the Project, additional funding was required to keep the project moving forward and to maintain, as much as possible, a production schedule that was originally envisioned by the JV partners. An emergency interim cash-call of $1,400,000 was made in July by Eagle Plains as operator, and the decision was made by both participants to waive normal cash-call procedures. Prize Mining subsequently agreed to accept dilution of its interest in the project in accordance with a formula established in the Yellowjacket JV agreement. The current JV ownership ratio resulting from this dilution will be announced as final figures are established.

About Eagle Plains Resources

Eagle Plains continues to conduct research, acquire and explore metal projects in western Canada. In addition to holding mining royalties on various projects, the Company controls over 35 gold, base-metal and uranium projects, several with third parties including Waterloo Resources Ltd (TSX-V:WAT.P) and XO Gold Resources Ltd. (a private B.C. company). In recent years, Eagle Plains has completed option agreements with Teck Limited (TSX:TCK.B), Alexco Resource Corp. (TSX-V:AXR), Billiton Metals, Rio Algom Exploration, NovaGold Resources, Kennecott Exploration and numerous other junior exploration companies, resulting in over 53,000m (158,500’) of drilling and over $27.0 million in exploration spending on its projects since 1998.

Expenditures during 2008 on Eagle Plains’ projects were approximately $6,000,000, funded equally between Eagle Plains and third party partners. This work resulted in approximately 6,300m of drilling and extensive ground-based exploration work and facilitated the advancement of numerous projects at various stages of development.

Afri-Can Marine Minerals: Diamond Sampling Vessel Departs Cape Town

Afri-Can Marine Minerals Corporation a Canadian company, actively involved in the acquisition, exploration and development of major mineral properties in Namibia has been informed by International Mining and Dredging Holding Ltd. (IMDH) that the contracted diamond sampling vessel MV DP The Explorer has left Cape Town, South Africa, for the port of Walvis Bay in Namibia. IMDH will then conduct deep sea testing in the vicinity of Walvis Bay in order to calibrate the new onboard sampling equipment, treatment plant and Dynamic Positioning system (DP II) for optimal efficiency. IMDH will also conduct crew training and a test sampling program to ensure all systems are functioning properly before commencing the sampling program on Afri-Can's Block J offshore diamond concession in Namibia.

A detailed schedule for the sampling program on Block J will be established once IMDH confirms that the vessel and its sampling system are functioning at optimal efficiency. A complete schedule of operation will be communicated to our shareholders in due course.

Our technical team is currently finalizing the details of the sampling program in collaboration with IMDH. Preparations include incorporation of Afri-Can's data base into the positioning system of the vessel, establishment of quality controls and security procedures, and detailed sample locations.

"We are pleased with the high level of collaboration between our technical team and IMDH, and look forward to a successful sampling program. It is encouraging that recent prices for marine diamonds from Namibia have held above US $200 per carat, indicating that our segment has been less affected by economic problems than the general market for rough diamonds," said Pierre Leveille, Afri-Can's President & CEO.

The sampling program in Block J will cover four geological features and will comprise a total of 332 samples. Of these, 237 are sited within previously delineated targets covering 18.96 square kilometres. The remaining 95 samples are designed to test geological formations that are thought to be potentially diamond bearing, but have not yet been proved as such. Details of the program are contained in the report titled "EPL 2499 (Block J) PHASE 3 SAMPLING, 2009" which can be viewed in the Investors/Technical Reports section of our web site at www.afri-can.com. The aim of the complete surveying and sampling program is to delineate diamond resources on Afri-Can's Block J marine diamond concession in Namibia in compliance with National Instrument 43-101.

AuEx Ventures, Inc.: Pequop South Gold Exploration Property Optioned

AuEx Ventures, Inc. a TSX listed precious metals exploration company that has a current portfolio of twenty three exploration projects in Nevada, one project in Spain and two projects in Argentina announce that it has entered into an Exploration Earn-in Agreement ("Agreement") with Golden Dory Resources, Corp. ("GDR") of Gander, Newfoundland, Canada concerning the Company's Pequop South gold exploration property located about 8 miles south of the Company's Long Canyon gold deposit in eastern Elko County, Nevada. The Pequop South property consists of 79 unpatented mining claims owned by the Company.

Under the terms of the Agreement, GDR has paid the Company an initial payment of US$20,000 and has committed to expend a minimum of US$50,000 during the first agreement year. GDR is required to expend a minimum of US$2,850,000 and complete a bankable feasibility study within seven years to earn a 70% undivided interest in the South Pequop property. Should GDR expend US$5,000,000 or more and terminate its interest without vesting, it would be entitled to a 3% net smelter return royalty capped at twice its investment.

The South Pequop property is underlain by a northeast trending series of middle Paleozoic sedimentary rocks consisting predominately of limestone and dolomite with minor clastic units. Preliminary surface evaluation has identified areas of hydrothermal alteration including jasperoid and hematite bearing limestone breccias which are anomalous in gold and the pathfinder elements arsenic, barium and antimony indicative of potential Carlin style mineralization. The area was initially targeted for field review by AuEx using remote sensing techniques earlier in 2009.

All data disclosed in this press release including sampling, analytical and test data, have been reviewed by the Company's qualified person Mr. Eric M. Struhsacker, M.Sc., and Certified Professional Geologist as recognized by the American Institute of Professional Geologists.

Wednesday, August 26, 2009

Lincoln Mining advances Pine Grove gold property, Nevada

Lincoln Mining Corporation, a Canadian-based mineral exploration and development company announce that it is in the process of advancing the Pine Grove gold property in Lyon County, Nevada. Lincoln has contracted Dudley Thompson Mapping Corporation Inc., of Surrey, BC, for new photogrammetry suitable for mine-site engineering. Ground survey control and aerial photography are planned for September. JBR Environmental Consultants in Reno, Nevada has been contracted to handle all stages of permitting. JBR's work has commenced and will include vegetation and wildlife surveys, soils assessment, cultural surveys, hydrological surveys and drill permitting with both the State of Nevada and the U.S. Forest Service. Metallurgical tests on large-diameter core are planned through McClelland Laboratories in Reno, Nevada. Lincoln is presently seeking a contractor to compile a scoping study.

Combined Inferred resources in the Wheeler and Wilson deposits based upon 194 drill holes are estimated at 6.06 million tons grading 0.053 opt gold (assays capped at 0.500 opt gold) containing approximately 320,000 ounces gold. The deposit offers potential for open-pit mining and heap-leach processing. Lincoln plans to conduct additional drilling to reaffirm and upgrade the Inferred resources by twinning past exploration holes that contain significant gold intercepts and to carry out exploration drilling on targets which hold potential for resource expansion.

Mr. Jeff Wilson, Vice President Exploration, from Carson City, Nevada, is supervising the company's programs at the Pine Grove Property and is the "Qualified Person" for the purpose of NI 43-101, "Standards of Disclosure for Mineral Projects" and is responsible for the technical disclosure contained in this news release.

Uracan discovers higher grade uranium mineralization at Grandroy and Turgeon zones at its 100% owned North Shore Property in Quebec

Uracan Resources Ltd. announce initial results from its ongoing summer exploration and mapping program on the North Shore Property.

As part of the 2009 geological mapping program, grab and channel samples were collected in historic trenches over the Grandroy and Turgeon Est areas. These zones are approximately 7 kilometres North of the Double S zone. At Grandroy, these samples returned up to 4 meters of 0.192% (3.84 lbs/ton) U3O8 in channel sampling. Additional channel samples are underway in this area to further define the extent of mineralization in the historic trenches that are over 140 metres in strike length. The extent of mineralization in the Grandroy area is unknown due to limited outcrop exposure in the area; however airborne radiometrics indicate a potential strike length of over one kilometre. As well, significant Uraninite and secondary uranium minerals have been identified in surface exposures at the Grandroy zone.

At Turgeon Est sampling encountered up to 0.685% (13.7 lbs/ton) U3O8 and 0.303% (6.06 lbs/ton) U3O8 in grab samples at Turgeon Est, along with 0.077% (1.54 lbs/ton) U3O8 across 1 meter in channel sampling. The extent of mineralization in the Turgeon Est area is unknown due to limited outcrop exposure in the area.

Assessment work records for these historical locations previously reported equivalent uranium grades based on scintillometer readings of up to 48 meters grading 0.217% (4.34 lbs/ton) U3O8. Uracan's results in this news release are from chemical assay data received from the same laboratory that processes Uracan's diamond drill core.

Dana Resources Technical Update on Collota 1.17 Million Ounce Gold Deposit

Dana Resources a US-based precious metals exploration and development company, is pleased to announce the initiation of the production program at its Collota gold deposit. Dana Resources currently owns and operates seven mining projects located in Peru's most prolific mining regions.

The Collota Gold Deposit is located in Northern Peru in the region of Ancash on the eastern side of the Cordillera Negra (Black Range Mountains). It is 45km south of the city of Huarez. Elevation ranges from 4,100m to 4,600m.

Dana Resources currently plans to produce gold for sale by 2012. Under the proposed model, permitting all zones are to commence shortly. The permitting process is expected to run 12 to 18 months and production setup time is expected to run 18 to 24 months.

A neighbouring company, IRLS MINERA, successfully put its deposit into production using the same model after raising $20 million. Their deposit is 40 percent smaller than Dana Resources' Collota deposit.

Dana Resources plans on processing the oxide zone first due to the low cost open pit heap leach process. Initially, Dana Resources expects to net $15 per tonne of ore. The Collota gold deposit oxide zone has 27 million tonnes available to be processed using a cut-off grade of 0.25 grams per ton. At this cut-off, Dana Resources will net over $400 million profit from the oxide zone. The sulphide zone has over 13 million tons ready to be processed with expectations to net approximately $150 million profit.

The Collota gold deposit estimated resource totals 1,170,000 ounces of gold, equivalent to a current gross in-situ value in excess of $1 Billion.

Dana Resources is anxious to commence the production program at Collota. The Board of Directors commented, "We are very excited to initiate our production program at Collota. As previously stated, our plan is to simultaneously increase the size and grade of the Collota deposit and continue permitting the project for production. We believe with further drilling, the Collota deposit could reach upwards of 3 million ounces of gold."

With some of the richest mineral reserves in the world, Peru is one of the highest producing countries of precious & base metals in Latin America. Previously inaccessible regions are now becoming available through modern technology and equipment, making the high diversity of marketable minerals an extremely attractive prospect. In total, Peru holds about 16 percent of the world's known mineral reserves.

Arabian American Development Announces New Contract With LyondellBasell Industries

Arabian American Development Co. announced that its subsidiary, South Hampton Resources, Inc., has signed a new contract with LyondellBasell Industries (LBI), an existing customer, which is estimated at $11 to $15 million per year over the term of the contract running from August 1, 2009 through April 30, 2012 with continuation year to year thereafter. Estimated annual volume of the contract is approximately four million gallons total of normal hexane, isohexane and isopentane. This will provide LBI a minimum of 80% of their needs for these products which are used in the production of polyethylene. The additional volume represents an increase of approximately 40% from the previous contract.

Mark Williamson, Vice President of Marketing, South Hampton Resources, commented, "We appreciate LBI's confidence in our competitive pricing, superior product quality and our fast and flexible customer service and are grateful that they chose to increase product volumes with us that they were previously receiving elsewhere. We are continuously looking for opportunities to leverage our market leadership and are committed to providing enhanced product benefits to LBI and all of our valued customers."

ARSD owns and operates a petrochemical facility located in southeast Texas just north of Beaumont which specializes in high purity petrochemical hydrocarbons and other hydrocarbon type manufacturing. The Company is also the original developer and an equity investor in a Saudi Arabian joint stock company involving a mining project in the Al-Masane area of Saudi Arabia which is currently under construction. The mine is scheduled to be in production in late 2010 and will produce economic quantities of zinc, copper, gold, and silver.

Animas Resources Signs Contract for Santa Gertrudis Drilling Program

Animas Resources Ltd. announce that it has signed a drilling agreement with Major Drilling de Mexico, S.A. de C.V. for up to 10,000 meters of drilling starting in October, 2009. The program details will be released shortly and will likely focus on two major centers of mineralization. In addition, the team plans to drill test several more conceptual targets where the geochemistry and geology are permissive for large gold systems. The bulk of the drilling will be Reverse Circulation (RC) with core in the lower portions of the drill holes.

Gregory E. McKelvey, President & CEO of Animas commented, "After a tremendous effort to remap the main part of a mining district, collect and compile vast amounts of geophysical and geochemical data, and essentially build almost from scratch a complete drill hole data base, the team has identified valid large scale targets within this 562 square kilometer mining district. We are poised to test the two best large alteration areas thought to be possible centers of gold mineralization, and have identified several other high priority targets worthy of testing to verify the presence of significant gold indications. The exploration of a mining district of this size is complex and takes considerable time to identify and verify the best targets. It is not the same as testing a single target on a much smaller land holding. The drilling program is significantly cheaper this year relative to last, and because the team is now familiar with the regional geological structure and the mineralized targets, we will be able to drill more RC at a lower cost and faster than in 2008. Core is critical in the mineralized areas; therefore selected intervals of each drill hole may be cored. Drilling will start in October and there is the assurance of faster turnaround times in the assay labs. In 2008, laboratory delays routinely hampered exploration efforts. We should have sufficient results in time to make sound and wise decision regarding our extensive land holdings."

In addition, Animas has contracted Dr. Roger Steininger to complete a review of the exploration potential and historic resources in the Greta-Ontario, La Gloria, Tracy, and El Tigre areas in the southern part of the district. Dr. Hugh Miller (mining engineer), during a recent site visit pointed out that these known occurrences may well be close enough in proximity to warrant the implementation and sequencing of satellite pits with a centralized processing facility.

Gregory E. McKelvey also commented, "The southern part of the district has always been of interest, yet the deposits were too far from the central historic facilities to be economic for previous owners. The concept that Dr. Miller suggests is a small centralized facility that relies on the use of mobile equipment to extract ore from multiple work areas and might be reason enough to revisit this area for the oxide potential. The known resources are historic and need a solid review, as does the potential below and adjacent to these historic resources. For the sake of communication, we will refer to this area / target as "Glorietta"."

Drilling Commences at New Dimensions Reese River Silver Project, Nevada

New Dimension Resources Ltd. and its wholly-owned subsidiary Dimension Resources (USA) Inc. (the "Company" or "New Dimension") are pleased to announce that a 2,000 metre Phase I reverse circulation ("RC") drill program has commenced at New Dimension's Reese River Project (the "Property" or "Reese River") in Nevada.

The Phase I drill program is being managed by New Dimension, with International Minerals Corporation ("International Minerals") funding 100% of the cost of the program. Details of the agreement between New Dimension and International Minerals are discussed below.

"New Dimension is pleased to join forces with International Minerals and Company management is excited that this initial drill program will be conducted at Reese River, which we consider to have one of the best undrilled silver targets in Nevada." said Fred Hewett, President and CEO of New Dimension. "We look forward to this initial evaluation of Reese River as it has taken two years of commitment and persistence by the Company's employees to acquire the Property and to successfully bring it to this drilling stage."

Reese River Project - Background Information

New Dimension's Reese River Project is located near Austin, Nevada, with excellent access and infrastructure. Reported historical silver production from the Austin District exceeded 20 million ounces with the majority of production coming from bonanza grade veins over a 30 year period, following the discovery of the district in 1862. The Company believes the Property holds significant potential for both high-grade underground and open-pittable silver deposits.

The Reese River Project includes the New York Canyon and Amador Canyon priority target areas which, along with the intervening ground, cover over 4.5 square kilometres of very prospective geology. Within the Property there are numerous historical mine workings with most of these positioned along a sedimentary-intrusive contact that hosts much of the known mineralization in the district.

Although the New York Canyon area is the site of several historic underground bonanza silver mines, all the underground workings are inaccessible and there has been no known modern exploration or drilling on these historic high-grade targets.

In addition to the historical underground vein mineralization, there is evidence for important wall-rock mineralization that could support an open pit operation. This evidence includes the results of 89 rock chip and representative dump samples collected by the Company over the main target area. All the samples reported anomalous silver with 21 of these assaying over 100 g/t with an average of 254 g/t silver and a range from 102 to 601 g/t silver.

Of the initial 2,000 metres of planned RC drilling, approximately half will be completed at New York Canyon.

In the Amador Canyon area, located approximately two kilometres to the northwest of New York Canyon, two styles of silver mineralization have been identified by the Company. One type of mineralization is related to shallow-dipping shear zones developed on bedding planes that had limited drilling by another unrelated company in 2004. Reported results include 12.2 metres (drill width) of 286 g/t silver. The Company cannot verify the accuracy of these results.

A second type of mineralization is related to an easterly trending fault zone called the Amador Fault that extends approximately 1,000 metres along Amador Canyon. Both styles of mineralization saw significant historical mining activity as evidenced by numerous large mine dumps. The Company believes that the Amador Fault was an important feeder for these historical mines and the planned drilling will be the first modern test of its potential to host significant silver mineralization. In addition, a previously unknown gold zone was discovered by the Company several hundred metres east of the silver zone. Here two one-metre chip samples of altered sediments, exposed through cover approximately 50 metres apart, reported values of 9.8 g/t and 4.8 g/t gold.

The Amador Canyon area will be drill tested with six to eight RC drill holes totaling approximately 1,000 metres.

The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 and reviewed by Thomas Burkhart, the Company's Vice President of Exploration, a Director and a Qualified Person under NI 43-101.

Letter Agreement

As originally announced on April 2, 2009, International Minerals can earn a 60% interest in the Reese River Project by funding the 2,000 metre Phase I RC drill program within the first year of receiving a drill permit (as a firm commitment) and by undertaking an aggregate of US$1.0 million in exploration expenditures and maintaining the underlying property obligations over a four year period. International Minerals earn-in period commenced on August 1, 2009. International Minerals can also acquire an additional 10% interest (for a total interest of 70%) by funding and completing a Feasibility Study within eight years (by August 1, 2017).

As a result of International Minerals completing its legal due diligence and the Agreement receiving all necessary approvals, New Dimension has received US$10,000 in cash and will receive an additional US$100,000 in cash or equivalent value in International Mineral shares (at the election of International Minerals) upon International Minerals earning a 60% interest in the Property.

Once International Minerals has earned its interest (either 60% or 70%), either party can be diluted to a 1.0% net smelter return ("NSR") royalty for non-participation in approved expenditures on the Property. International Minerals is the operator of the project, with New Dimension supervising and managing, as a sub-contractor, the initial Phase 1 RC drill program described above.

Melkior Options 12 Claims in Bristol, West Timmins, to Big Red Diamond Corporation

Melkior Resources Inc. (TSX-V:MKR) announce the signature of a letter of intent with Big Red Diamond Corporation ("Big Red") (TSX-V:DIA) whereby Bid Red can acquire a 50% interest in Melkior's 100% owned 12 claim units in Bristol Township, West Timmins. Big Red will issue 1,000,000 of its common share to Melkior on regulatory approval and undertake $400,000 of exploration work over a period of 48 months on the claims to earn the 50% interest. Melkior will be the operator.

The Melkior claims are located between two Big Red claim groups in Bristol Township. Regional airborne geophysics suggests exploration targets that extend from the Melkior claims onto the Big Red properties. The Bristol claims are 5 kilometres north of the Lake Shore Gold (TSX:LSG) West Timmins gold deposit. They adjoin West Timmins Mining Inc. (TSX:WTM) and San Gold Corporation (TSX-V:SGR) blocks.

In addition to the 12 claim units Bristol block, Melkior has 209 claims, totalling 3,344 hectares in the West Timmins area including Carscallen where assays are being processed.

Tuesday, August 25, 2009

Redhawk Receives Major Permit From the State of Arizona for Underground Development of the Copper Creek Project

Redhawk Resources, Inc. announce its wholly owned subsidiary Redhawk Copper, Inc. received the Aquifer Protection Permit (APP) from the Arizona Department of Environmental Quality (ADEQ) for the proposed underground exploration and development of its wholly owned Copper Creek Project in Pinal County Arizona. The APP is the major permit required for commencement of activities to access, complete exploration, and develop for production the significant near surface copper and molybdenum breccia hosted NI 43-101 compliant resources and gain access to the deeper underlying porphyry style copper and molybdenum resources.

Copper Creek Permitting

The APP issued by ADEQ is the primary permit required to begin underground work at Copper Creek under Arizona State and Federal EPA regulations. Additional permits will be required before commencing development activities, however, most of these are state, county, and local and require much less time and expense to receive. Considerable ground work for the additional permits has already been completed. The APP was issued more than 18 months after the initial application and involved more than one year of ground water quality testing and monitoring, testing of rock chemistry, and detailed engineering prior to the application.

The APP allows for underground decline and drift access to four of the major breccia deposits with existing resources and continued decline development to reach the deeper porphyry style resources below and adjacent to the breccias. Current NI 43-101 compliant resources in the breccia deposits based on a Cu equivalent cutoff of 0.75% are a combined measured and indicated 7.341 million tons with a Cu equivalent grade of 1.66% and an inferred resource of 2.272 million tons with a Cu equivalent grade of 1.63%. Based on a Cu equivalent cutoff of 0.60% the porphyry resource estimate is an indicted 20.03 million tons with a Cu equivalent grade of 1.04% and an inferred resourced of 156.13 million tons with a Cu equivalent grade of 0.88%. The combined resources contain approximately 3.4B pounds of Cu equivalent.

Stephen Barley, Managing Director of Redhawk Resources, stated, "The receipt of the APP from the State of Arizona ADEQ is a major step forward in the development of the Copper Creek Project and is the culmination of many years of work on the property. It is another positive indication that there are no fatal flaws that will prevent Copper Creek from becoming an operating copper mine and also means the project is two years closer to production."

The assessment above is preliminary in nature. Inferred mineral resources are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the preliminary assessment will be realized.

Kentucky USA Energy, Inc. Expands New Albany Shale Prospect with New Farm-out Acquisition

Kentucky USA Energy, Inc. announced that the Company has entered into a farm-out agreement with Thomasson Petroleum Enterprises, Inc. (“TPE”) to acquire from TPE certain drilling rights on farm-out acreage that has been selected in Todd, Muhlenberg and Christian counties in western Kentucky. This additional farm-out acreage is adjacent to the Company’s existing leasehold property associated with the New Albany Shale.

Under the terms of the agreement with TPE, the Company acquired the right to drill up to 40 wells on the subject leases to explore for oil and gas in and above the New Albany Shale. The Company must drill ten (10) wells in the each year of the agreement to be eligible to drill an additional ten wells in the following year, up to a maximum of 40 wells over four years. TPE, the leasehold owner, will retain a 25% net revenue interest in the wells that the Company drills on the TPE acreage into the Albany shale and an 18.75% net revenue interest in any oil wells drilled above the top of the Albany shale.

“This farm-out agreement gives us the ability to further develop into areas that we believe have strong gas potential and we expect to begin a drilling program on this acreage shortly," said Steven Eversole, CEO of Kentucky USA Energy.

Miranda Gold Acquires Sediment-Hosted Gold Target Property

Miranda Gold Corp. has leased 76 unpatented lode claims in the Toiyabe Range in Lander County, Nevada, which collectively comprise the Big Blue project. The project covers approximately two square miles (5.2 sq. km) and is located approximately 13 miles (21 km) north of Austin, Nevada.

Miranda’s interest was drawn to the area through a generative program evaluating a number of district-scale stream-sediment anomalies whose character has an affinity with large sediment-hosted gold districts in Nevada.

The property lies on the south margin of the Callaghan Window, a large area with lower-plate carbonate rocks exposed through the Roberts Mountains Thrust. Cambrian- through Silurian-age limestone, siltstone, sandstone and shale are overthrust by Ordovician upper-plate siliceous rocks. The lower-plate sequence in the window and on the Big Blue project includes Roberts Mountain Formation, Hanson Creek Formation, and Pogonip Formation, all of which are favorable hosts to large gold systems in Nevada. A west-northwest structural trend that extends through the central part of the project cuts both upper- and lower-plate rock and is locally altered and mineralized. Altered dikes within this trend are also locally mineralized.

Over one hundred and fifty historic rock samples on the property define an anomalous area approximately 8000 ft (2440 m) long by 1200 ft (370 m) wide with values ranging from non-detectable to a high of 0.017 oz Au/t (0.590 g Au/t). A second smaller anomaly of approximately 2000 ft (610 m) by 1000 ft (300 m) shows surface values ranging from non-detectable to a high of 1.2 oz Au/t (41 g Au/t). This highest value comes from a 3 ft chip sample within a structure within fractured upper-plate argillite and is duplicated by Miranda’s own sampling.

Numerous companies have explored the Callaghan window. The most recent drilling was concentrated to the northeast and southeast of the Big Blue project. Multiple historic holes occur on the Big Blue project but none within the west-northwest-trending anomaly now controlled by Miranda.

The target analogue for the Big Blue project is the Northumberland District in the Toquima Range 39 miles (63 km) south of Austin, Nevada where Fronteer Development Group Inc. is reported to be developing a resource of 3.19 million gold equivalent ounces. Both the Northumberland district and Miranda’s Big Blue project are within lower-plate windows having typical stratigraphy of the major sediment-hosted gold districts in Nevada. Both projects show alteration and mineralization but are off the well-defined Carlin and Cortez Trends. The Northumberland and the Callaghan windows both are associated with similar district-scale stream-sediment anomalies.

Miranda signed a 20-year lease on the 76 Oxen claims. Miranda will pay $10,000 on the first anniversary of the agreement and will make annual advanced royalty payments through the term of the lease. The claims are subject to a Net Smelter Return royalty of 3% that is subject to a buy-down provision.

Miranda will implement an evaluation of the Big Blue property that will include mapping and geochemical sampling. In line with Miranda's business model, a joint venture partner will be sought to further explore the project.

Golden Predator Commences Drilling on St. Elmo Project, Nevada; Graduates to TSX-V Tier 1

Golden Predator Royalty & Development Corp. announces that it has commenced drilling on the St. Elmo Project located 100 km north of Elko, NV. The St. Elmo Project was recently acquired under an option agreement with Nevoro Nevada Inc., a wholly owned subsidiary of Nevoro Inc., and an aggressive exploration program has been initiated on several drill-ready targets on the Project.

Drilling at the St. Elmo Project is targeting bonanza style vein mineralization, with drilling initiating on the St. Elmo vein hosted in quartzite of the Cambrian Prospect Mountain Formation. The drill program will test 1,200 ft of strike up to 500 ft below surface with 5,600 ft of reverse circulation and 1,800 ft of diamond drilling in 16 drill-holes. The St. Elmo vein prospect has 6 historic drill holes from two separate drill campaigns, with best intercepts in diamond hole GC-01, containing 8.5 ft of 0.155 opt gold from 399.67 ft and 6.25 ft @ 0.50 opt gold from 432.75 ft as reported in Golden Hope Mines Limited's August 23, 1999 news release.

An additional 3 to 4 reverse circulation drill-holes will also be completed on previously untested vein targets with gold anomalism at surface.

The St. Elmo Project is an exciting opportunity to generate near-term operations for the Company. Metallurgical work completed by past operators is favourable for Golden Predator's planned modular milling facilities in Nevada. Hazen Research reported a head grade of 2.36 oz/t gold and 1.15 oz/t silver on a 360 kg bulk sample collected from existing stockpiles. The bulk sample was prepared for metallurgical assessment by Harrison Western Mining and collected in underground operations as recently as 1990.

Assay figures from previous operators have not been verified and are reported as un-cut, and all intercepts are reported as drilled width and are not to be interpreted as true widths.

Travis Schwertfeger, BSc, MAIG and Exploration Manager for Golden Predator Mines US Inc., the Company's wholly-owned Nevada subsidiary, is the Qualified Person for the St. Elmo Property and is responsible for the technical content of this news release.

Graduation to Tier 1

The Company is also pleased to announce that it has graduated to Tier 1 status on the TSX Venture Exchange. Tier 1 is reserved for the TSX Venture Exchange's most advanced issuers with the most significant financial resources, and the benefits of Tier 1 status include decreased filing requirements and improved service standards.

Excel Gold Mining Inc. Announces the Closing of a Private Placement With the MineralFields Group

Excel Gold Mining Inc. announce the closing of a non-brokered private placement of $800,000.00 through the sale of 10,000,000 flow-through units ("FT Units") at $0.08 each to the MineralFields Group, each FT Unit being comprised of one (1) common share, to be issued as a "flow-through share", and one (1) non-flow-through common share purchase warrant, exercisable at a price of $0.135 per share no later than eighteen (18) months following the date of issuance (the "Offering").

In connection with the Offering, each of Limited Market Dealer Inc. and Industrial Alliance Securities Inc. has received a finder's fee in the amount of 500,000 options to purchase units (the "Compensation Units"), each Compensation Unit exercisable at a price of $0.08 no later than eighteen (18) months following the date of issuance and each Compensation Unit comprised of one (1) non-flow-through common share and one (1) non-flow-through common share purchase warrant, exercisable at a price of $0.135 per share no later than eighteen (18) months following the date of issuance, as well as respective cash fees equal to 7.5% and 2.5% of the subscription proceeds.

All the securities issued pursuant to the Offering are subject to a four (4) month hold period from the date of issuance. The TSX Venture Exchange Inc. has conditionally accepted the Offering, subject to the filing of final closing documentation.

The proceeds of the Offering will be used to fund Excel's exploration project in the Montauban Mining Camp, in the Province of Quebec.

Ryland Oil Announces Completion of Third Bakken Well Drilled by Joint Venture Partner Triaxon Resources

Ryland Oil Corporation announce that its joint venture partner, TriAxon Resources Ltd., has drilled, completed and tested its third farm-in well on Ryland Bakken lands in the Flat Lake area of southeast Saskatchewan. The most recent horizontal well, located at 1-22-1-14W2, was multi-stage fracture stimulated. During clean-up of load fluid after the frac, the well flow tested light oil rates in excess of 200 barrels of oil per day, with water cut steadily reducing to approximately 35% as load fluid was recovered. After the flow test, the well was shut in for a pressure buildup and was returned to flowing production last week. TriAxon paid 100% of the costs of drilling completing and equipping the well with Ryland retaining a 50% working interest.

Ryland management is very encouraged by the test results on the new well to date and the development potential of its substantial acreage position in the area. The new well is located approximately 7 miles northeast of the initial producing well drilled by TriAxon on a contiguous lease block owned by Ryland. Ryland, through its wholly owned subsidiary Pebble Petroleum Inc., is a party to three farm-out agreements with TriAxon under which TriAxon was granted the right to farm in to a total of 81 1/4 sections of Pebble's properties in the Flat Lake area. TriAxon's earn-in rights are restricted to the Bakken Formation only. TriAxon is an established and successful operator in the Bakken Formation in southeast Saskatchewan with a focus on developing low permeability reservoirs with horizontal, multi-stage fracture stimulated wells.

Ryland also announces that, with its financial advisor and agent GMP Securities LP, it is continuing to pursue and review various corporate strategies, which may include a sale or merger of the Company, an asset sale, or a teaming agreement with one or more industry partners. Ryland has agreed to pay GMP a success fee on the closing of any transaction, calculated as a percentage of the transaction's value.

Minto Explorations Acquires Additional Shares of Northern Tiger

Minto Explorations Ltd. announces that it has acquired 650,000 common shares of Northern Tiger Resources Inc. The shares were acquired pursuant to a private placement transaction at a price of C$0.20 per share which closed on August 17, 2009.

As a result of this acquisition, Minto Explorations holds or has control over, as at the date hereof, an aggregate of 6,243,878 common shares which holdings represent approximately 13.2% of the issued and outstanding shares of Northern Tiger, on a non-diluted basis.

Minto Explorations acquired the securities of Northern Tiger for investment purposes only and not for the purpose of influencing control or direction over Northern Tiger. Minto Explorations may, subject to market conditions, make additional investments in or dispositions of common shares of Northern Tiger.

Monday, August 24, 2009

Cobra Oil & Gas Announces Technical Update On Utah Oil Sands Project

Cobra Oil & Gas Company announce that the company has been granted a non-exclusive license to utilize the In-situ Combustion (ISC) for use on the Utah Oil Sands Project. Subject to the terms and conditions of the agreement, Enercor Inc. (Enercor), hereby grants Cobra a non-exclusive, non transferable license to use ISC for the purpose of extracting oil from heavy deposits in which Cobra has a direct contract interest at the time of employment of the ISC technology.

"We are excited to have acquired the license for utilization of ISC," said Max Pozzoni, Cobra's President. “This is one of the most effective technologies for oil sands extraction which will allow us to get closer to our goal of producing from our Utah Oil Sands Project.”

ISC works as an enhanced oil recovery utilizing conventionally drilled wells, with one well designated for injection, and multiple surrounding wells for oil production, or recovery. Upon completion of the wells, heat is introduced into wells designated as injection wells, which mobilizes the oil in place for free flow and pumping.

Along with the added ease of flow, the heat from the combustion adds to the economic benefits through upgrading the oil to a lighter grade. The heat cracks the crude hydrocarbons, vaporizes the lighter hydrocarbons, and deposits the heavier hydrocarbons as coke. The process results in the oil becoming a more suitable feedstock for refining purposes, which potentially enhances the marketability of the end product to a refiner.

Radius Acquires Gold Target Near Dawson City, Yukon

Mr. Simon Ridgway, the President of Radius Gold Inc. announce that the Company has acquired a large gold target at the head of Ten Mile Creek, roughly 70km south of Dawson City in the Yukon Territory.

Ten Mile Creek is an active placer gold producing creek with significant historic production. The head waters of Ten Mile drain an area underlain by an intrusive complex of probable Cretaceous age. Work by previous operators in the area identified anomalous gold values in stream sediment, soil and rock samples. The area has never been drill tested.

In 1998, Teck Resources Limited ("Teck") staked over 200 claims in the area and in the following three seasons carried out a reconnaissance program of geological mapping, soil and rock sampling and a minor trenching program on the property. This work outlined 5 gold-mineralized zones hosted in and adjacent to two Mesozoic quartz monzonite intrusive bodies. Their final report summarizes the gold zones as follows:

1. Jual Vein System: Numerous northwesterly trending, flat to moderately dipping quartz veins, stockworks and fault zones occur, with many (gold) values in the 8-16 g/t Au range. Strong northwest trending gold in soil anomalies (values from less than 5 to 670 ppb Au) cover a 1.4 x 0.6 km area on the Val / Jual grid. Trenching of lower order gold-in-soil anomalies peripheral to the above, yielded results of 1.6 g/t Au over 25m (including 11.1 g/t Au over 3m), and 1.0 g/t Au over 19m (including 8.5 g/t over 1.5m).

2. Cupid Zone: this zone, similar to the Jual, lies 3km to the west and contains mineralized float to 3.5g/t Au. Quartz and altered intrusive boulders, with disseminated sulfide, were uncovered over a 600m by 500m area near Twenty Mile Creek. Galena is the most common sulfide with minor pyrite. The Jual Vein system and the Cupid zone may be connected on the basis of gold anomalous streams and reconnaissance soils with values up to 70ppb Au.

3. Ten Grid: an open ended, 1.6km long gold/arsenic soil anomaly, with values up to 255 ppb Au and 1280 ppm As, occurs 4.5 km to the southeast of the Cupid Zone. The anomaly covers the contact between a metasedimentary unit and an intrusion. The strong correlation between gold and arsenic on the anomaly suggests that the style of mineralization here is distinct from that exposed in the Jual Vein System.

4. Ten West: Quartz vein float with values up to 3.76g/t Au and reconnaissance soil anomalies to 150ppb Au and 220ppm As occur 2km to the southwest of the Ten Grid. The gold/arsenic signature and presence of arsenopyrite suggests a similarity and possible continuity between the Ten Grid and Ten West zones.

5. Galena Creek-Five Mile: At the south end of the property, sheeted quartz veins with values up to 3.98g/t Au, quartz stringers carrying 5.36g/t Au, anomalous reconnaissance soils and local stream sediments exceeding 1g/t Au occur along trend of anomalies.

Much of the Property has not been tested by soil or rock sampling. After completion of a follow-up ground program (to commence shortly), Radius intends to test the above gold targets by drilling.

The property was acquired in part by staking and in part under an option agreement with Bernie Kreft, a Yukon resident and renowned prospector. The option agreement calls for cash and share payments to Mr. Kreft, and an initial sampling program. As well, a 1.0% NSR is payable to Mr. Kreft and a 1.5% NSR is payable to Teck. Radius has the right to reduce the Kreft NSR to 0.25% for $1.0 million.

The historic results reported in this release were outlined in Teck's January 2001 assessment report "2000 Geological and Geochemical report on the Ten Mile Creek Property" filed with the Mining recorders Office, Dawson, Y.T in January 2001. The reader is cautioned that Radius has not yet completed sufficient work to verify Teck's results. However, Teck's exploration work is believed to be of high quality. Samples were prepared and assayed at Eco-Tech Labs, Kamloops. Gold was assayed by Fire Assay/AAS finish, and multi-element geochemistry by ICP Aqua Regia.

Iberian Minerals to Issue Shares to Insersa

Iberian Minerals Corp. announced today that in connection with the previously announced purchase of the underground mining division of Insersa at Aguas Tenidas, which closed on July 31, 2009, the Company will issue a total of 1,459,073 registered shares (the "Insersa Shares") on or about September 4, 2009. Failure to issue renders the Company liable to return to Insersa Euros 480,000, being the amount of the subscription price received for the Insersa Shares.

As noted in the press release of July 22, 2009, the exact number of shares to be issued was subject to calculation. The Insersa Shares are being issued at price of $0.485 each, for total consideration of $707,650.56. Conditional approval of the TSXV for the issuance of the Insersa Shares has been received.

For Swiss corporate purposes, the issuance of the Insersa Shares is currently being completed with registration before the appropriate authorities expected shortly.

Atna Receives Approval for Development of Reward Gold Mine

Atna Resources Ltd. announce that the US Bureau of Land Management has signed the Record of Decision and Finding of No Significant Impact to approve development of the Reward Gold Project located near Beatty, Nevada.

"This decision is a major milestone and a positive outcome for the development of Reward. We look forward to breaking ground on the project and have initiated discussions with various groups to arrange project financing for construction," states James Hesketh, President & CEO.

The Reward operation is expected to produce approximately 126,000 ounces of gold over a five year mine life at an estimated average cash cost of US$435 per ounce of gold produced. This production would provide an undiscounted cash flow of US$34 million at a US$850 gold price. Gold production from Reward combined with production at the existing Briggs Gold Mine should yield the Company an annual gold production rate of 70 - 90 thousand ounces annualized by 2010 year end.

Work is ongoing with state agencies to finalize reclamation bond calculations and other required permits. Major permits, including the Class II Air Quality Operating Permit, Water Pollution Control Permit, and a Permit to Change Point of Diversion, Manner of Use and Place of Use of The Public Waters, were previously issued by the State of Nevada.

The Company completed a positive economic feasibility study for the Reward Gold Project in March 2008. The feasibility study demonstrated an attractive return on investment from development of a conventional open pit mining, ore crushing, and heap leach gold production operation. Operating synergies and cost benefits from the nearby Briggs Mine will positively impact the operation. Details are contained in a technical report dated March 21, 2008, prepared by Chlumsky, Armbrust & Meyer, LLC., titled "NI 43-101 Technical Report - Reward Gold Project, Nye County, Nevada," which is available on SEDAR at www.sedar.com.

Proven and probable mineral reserves estimated in the feasibility study total 6.4 million tons averaging 0.024 ounce per ton containing 157,000 ounces of gold based on a gold price of US$700 per ounce, a cut-off grade of 0.01 ounce per ton and a strip ratio of 2.2 tons of waste per ton of ore. The feasibility study includes capital costs for crushing and process plants, facilities and infrastructure, mining fleet and pre-production stripping of US$25.4 million. Undiscounted pre-tax net cash flow changes by US$12.5 million for each US$100 change in gold price without allowance for reserve expansion. Final reclamation and closure cost, which is included in overall production cost, is estimated at approximately US$2.5 million and the cost for reclamation and closure bonds is estimated to be approximately US$5.1 million. The Reward deposit remains open for expansion both along strike and down-dip.

Mining operations at Reward would utilize conventional 100-ton open pit trucks and compatible loaders. Mined ore will be crushed to minus 3/8 inch and placed on a lined pad for leaching and gold recovery. The gold contained in process solutions will be extracted by the carbon recovery process with the loaded carbon subsequently transported to either the Briggs Mine in Inyo County, California, or to a third party processing facility for production of dore containing gold and silver.

U.S. Energy Corp. Announces Initial Production Results From Their Stoddard #1 Well in Texas

U.S. Energy Corp. a natural resources exploration and development company with interests in molybdenum, oil and gas, and real estate assets, today announced that its partner, Houston Energy, L.P. ("HE") has advised the company that an initial production test from the Stoddard #1 well (first well drilled with HE) in Southeast Texas resulted in approximately 3.9 MMCF and 240 barrels of oil per day or an equivalent of 5.34 MMCFE/D. Upon reaching contract depth on the Stoddard #1 well in June, HE encountered two productive zones with approximately 35 feet of net pay in the Tex-Miss and F3 Frio sands. Sales expected to commence within the next 60 days. Optimal production flow rates to sales will be determined once hooked up to sales lines. U.S. Energy Corp. has an 8.5% after casing point (ACP) working interest (6.2% net revenue interest). There is also a 10% after prospect payout (APO) back-in working interest due the operator, which would reduce USE's working interest to 7.65% (5.6% net revenue interest) APO.

"We are very pleased with the initial production rates of the Stoddard well," stated Keith Larsen, CEO of U.S. Energy Corp. "With the company's strong balance sheet we continue to seek out additional oil and gas opportunities, while working towards our stated goals of further establishing recurring revenues and cash flow in order to enhance shareholder value," he added.

Golden Band Resources - La Ronge Gold Project - Surface Lease Agreement signed

Golden Band Resources Inc. announce that the La Ronge Gold Project Surface Lease Agreement 2009 has been signed with the Government of Saskatchewan. The province is represented in the Agreement by the Ministry of First Nations and Métis Relations and by the Ministry of Environment. Golden Band entered into the Agreement via its wholly owned subsidiary, Jolu Development Corporation (JDC). The Surface Lease includes the three parcels of land, totalling approximately 278 hectares, which encompass the Bingo deposit, the Komis and EP deposits, and the Jolu mill site. The initial term of the surface lease is until May 31, 2030. In the Surface Lease Agreement, JDC and the Province acknowledge that it does not abrogate or derogate from any existing rights of Aboriginal peoples of northern Saskatchewan. The Surface Lease addresses a range of issues, including land tenure, environmental protection measures, occupational health and safety provisions, and socioeconomic benefits for northerners.

"Golden Band is extremely pleased and gratified to have secured this agreement", stated Rodney Orr, Company President and CEO. Golden Band is delighted with the depth and extent of cooperation provided by the Provincial departments involved, not only in the conclusion of the Surface Lease Agreement, but also in the various regulatory and permitting requirements that we have been engaged in over the past two years. This major milestone in our plans for the La Ronge Gold Project demonstrates our positive relationship with the Province and with our neighbours, including the Lac La Ronge Indian Band, on whose traditional lands we are working. This cooperative approach is a continuation of the Memorandum of Understanding as was signed with the Band in 2007, and reinforces our strong relationship based on the advancement of exploration and mining by Golden Band in ways that are mutually beneficial to both Golden Band and the Band. We are most fortunate to have the support of the Lac La Ronge Indian Band for our project."

"We are very pleased that Golden Band is moving ahead together with First Nations, Métis and Northern municipalities," said Bill Hutchinson Minister of First Nations and Métis Relations and Minister responsible for Northern Affairs. "This partnership will develop an important mineral resource and provide opportunities for residents of Northern Saskatchewan to participate. The provincial government will ensure that mining continues with an emphasis on local economic development benefits and environmental stewardship."

Chief Tammy Cook-Searson, Chief of the Lac La Ronge Indian Band, said that "Today is a very important day for our future. The Surface Lease Agreement between the Province and Golden Band Resources is an important step to support positive relationships between the Lac La Ronge Indian Band, the Province and Industry. While our traditional territories encompass a large part of the province, the gold belt is at the center. Our band members have hunted, fished and trapped that area for centuries as they do today. We are confident that these developments will be a wonderful addition that will compliment these activities. We are committed to working with Golden Band Resources and the Province of Saskatchewan to ensure that our membership and the north benefit from a safe, environmentally responsible, and profitable project."

Kitsaki Management L.P. and several of its related entities have been involved in the Project since 2004. In 2008, Kitsaki Procon Joint Venture completed the underground exploration project on the Company's Bingo deposit and the preliminary Jolu mill refurbishment work. Kitsaki will be involved in the Company's operations through their continued participation in the Kitsaki Procon JV. Negotiations are in process for an expanded scope of work under a General Services Agreement, and other agreements, whereby Kitsaki Procon JV will act as the general contractor for all underground and open pit mining, labour services in the Jolu mill's operations, site services and ore haulage. Kitsaki Management and associated businesses will provide support services for environmental monitoring, camp accommodation, and catering.

With the conclusion of a surface lease agreement providing access to Crown land, Golden Band Resources commits to furthering employment, training, and business opportunities for Northerners. During operations, the project will initially employ 75 to 100 people.

In addition to securing the surface lease, Golden Band Resources is also pleased to report that the provincial regulatory approval process for the site preparation and construction activities at the Bingo, Komis, and Jolu sites is proceeding very well. Approvals have already been issued by the Saskatchewan Ministry of Environment (MoE) for tree and vegetation clearing at each of the sites, the access roads between the sites and Highway 102 and along the powerline route to the Jolu site. The MoE has also issued a variety of approvals for the construction of facilities at the sites, including an approval to construct the above ground tailings management facility at Jolu and to refurbish the Jolu mill.

CBM Asia Development Acquires Interest in South Sumatra Production Sharing Contract

CBM Asia Development Corp. announces that it has signed a Letter of Intent ("LOI") with Batavia Energy Inc. ("Batavia") to acquire 48 percent of South Sumatra Energy Inc. ("SSE") which, together with PT Medco CBM Sekayu ("PT Medco"), holds a Production Sharing Contract ("PSC") for coalbed methane on a 58,349 hectare block located in the South Sumatra Basin (the "Sekayu Block PSC"), Indonesia.

Awarded May 27, 2008, the Sekayu Block PSC marked the first time the Government of Indonesia awarded a PSC for the exploration and development of coalbed methane in Indonesia. PT Medco Energi Internasional Tbk ("Medco"), Indonesia's leading independent oil and gas company, and operator of the Sekayu Block PSC, has forecast that the first commercial coalbed methane production will begin in 2011 and peak in six years. Indonesia's estimated coalbed methane resource of 453 trillion cubic feet ("TCF") of gas in place is among the largest in the world after the United States and China. The South Sumatra Basin, the largest coalbed methane basin in Indonesia, is estimated to contain in-place resources of approximately 183 TCF (Society of Petroleum Engineers, 2004).

Under the LOI, the Company will earn a participation interest in Batavia's 31.5 percent working interest in the Sekayu Block PSC, and has committed to exploration and appraisal expenditures over the next three years to determine the commercial feasibility of coalbed methane production.

"We are happy to secure this rare capital acquisition opportunity in Indonesia's rapidly emerging coalbed methane industry. As Indonesia moves to develop its large prospective coalbed methane resources for delivery to domestic and global markets, we look forward to working with our new partners in the Sekayu Block PSC where initial exploration drilling is scheduled to commence by early September 2009. This acquisition will diversify our interests in the coalbed methane sector in Indonesia and complement our already outstanding prospects in the Kutai Basin," said Mr. Alan Charuk, the Company's President and Chief Executive Officer. Successful completion of the Sekayu Block PSC test well will mark the first government approved commercial coalbed methane well drilled in Indonesia.

Closing of the LOI is subject to, among other things, completion of the Company's due diligence review, execution of definitive agreements and applicable third party consents and approvals.

Minera Andes initiates exploration on 100%-owned targets in Argentina

Minera Andes Inc. announce exploration plans for two principal areas in Argentina. 1) Santa Cruz province where the Corporation's San Jose mine is located and 2) San Juan province, site of the Corporation's recent Los Azules copper discovery. The target in Santa Cruz province is high-grade epithermal gold-silver mineralization. In San Juan province porphyry-style copper mineralization is the primary target.

Exploration Program

Minera Andes plans to systematically evaluate its portfolio of properties in Santa Cruz and San Juan province. It is anticipated that in the next eighteen months all the properties currently held will be evaluated using satellite image analysis, soil and rock sampling and geologic mapping. We expect to conduct further work, including various geophysical surveys, on 8 to 10 properties in total. Our work plan calls for reconnaissance core drilling on up to five targets (2,500 meters per target).

Santa Cruz Province -Big Potential - Many New discoveries

Since beginning exploration in Argentina in the 1990's, Minera Andes has one of the most successful exploration teams in Argentina with two discoveries to its credit: the now-producing San Jose mine (a joint venture between the Corporation and Hochschild Mining plc in which the Corporation has a 49% interest) in Santa Cruz province and the Los Azules porphyry copper project in the San Juan province. Santa Cruz is home to several significant precious metal mines and new discoveries. It was not until the 1990's that the area began to be explored. Now that our mine is built and we have money in the bank, we will be aggressively looking at the discovery potential of our extensive land holdings.

The producing mines in the Deseado massif are: AngloGold Ashanti's Cerro Vanguardia mine (reserves of 3.5 million ounces (m oz) of gold and a production rate 220,000 oz per year); Pan American Silver's Manantial Espejo mine (reserves of 75 m oz silver and a production rate of 4 m oz silver and 60,000 oz gold per year); Coeur's Mina Marta (a reserve of 50 m oz silver and a production rate of 2.7 m oz per year); and Minera Andes' discovery, the San Jose mine (reserves of 27.3 m oz silver and 412,000 oz gold, measured and indicated resources of 39 m oz silver and 570,000 oz gold with a production of 6 m oz silver and 60,000 oz gold per year).

Exploration continues to yield positive results in Santa Cruz. Notable recent exploration successes include Andean Resources' Cerro Negro property, close to San Jose, where a resource of 2.4 m oz of gold has been discovered at the Eureka vein and Exeter Resources' Cerro Moro property which so far has a resource of more that 600,000 oz gold equivalent. These new discoveries attest to the continued exploration potential of the Deseado Massif.

Minera Andes currently controls 35 properties in Santa Cruz province covering approximately 66,000 hectares. The exploration target is gold and silver mineralization in low- to intermediate-sulfidation epithermal systems. Largely acquired on the basis of satellite imagery, geologic setting and proximity to known mineralized trends, these properties run the full gamut from grassroots properties, with little or no work done to date, all the way to targets ready to drill (Martes 13). Several properties have already been the focus of preliminary drill campaigns and will be re-evaluated as part of the planned campaign.

San Juan Province

The Andean cordillera of Chile and Argentina hosts 18% of the world's copper resources. Alone, the Miocene copper belt of Chile contains 605 billion pounds of copper. Minera Andes has already made a significant copper discovery at Los Azules where 11 billion pounds of copper have been delineated at potentially mineable grades (in an inferred resource of 922 million tonnes of 0.55% copper). Los Azules is subject to an option earn-in agreement with Xstrata Copper

In addition to Los Azules, Minera Andes holds three other porphyry copper targets in San Juan province. One of them, Los Chonchones, has been extensively sampled in a grassroots sense and displays characteristics (alteration etc) typical of productive porphyry copper systems and, consequently, is a strong candidate for further work.

Initial results from the Celestina project, Santa Cruz province

As a precursor to the proposed program, drilling was completed at the Celestina property in early June. A total of 10 core holes were drilled to depths between 140 meters and 240 meters, for a total of 1,731 meters, to test for gold/silver mineralization. Drilling confirmed the presence of a low-sulfidation epithermal mineralized system. Nine of the ten holes cut significant widths of mineralized structures. Mineralized intercepts included strongly altered faults and breccias zones with some zones of gray to crystalline quartz. Identified minerals included abundant pyrite and occasional lead and zinc minerals. Assays revealed only weakly anomalous gold (up to 1.2 g/t over 1.2 meters and 0.40 g/t over 0.3 meters in hole CL09-10) and silver values (up to 106 g/t over 2.4 meters in hole CL09-04). A thorough study of the geologic significance of the drill program will be made before any decision is made regarding further work.

Friday, August 21, 2009

Bridge Resources Corp. Provides Update on USA Drilling Program

Bridge Resources Corp. through its new wholly-owned subsidiary Bridge Energy Inc. has submitted applications to drill five wells in the Boise Basin, Idaho commencing in Q4, 2009. The wells range in depth from 4,500 to 7,000 feet and will be targeting both shallow gas and deeper oil reservoirs. Several older wells flowed gas to surface at measured rates up to 400,000 cubic feet per day and two of the four deeper wells in the basin recorded oil shows. These will be the first wells drilled on these prospects based on modern reprocessed seismic.

Paramax Resources Ltd. has elected to retain its 50% non-operated interest and is obligated to participate in the drilling program at this equal working interest level. Upon completion of the acquisition, which is anticipated to occur in September 2009, Bridge will operate the project and will hold a 50% working interest. Based on geological and seismic interpretation, Bridge and Paramax will each hold a 50% working interest over 100,000 acres in the most prospective part of the basin. The closing of the 50% interest in Boise basin assets by Bridge remains subject to TSX Venture Exchange acceptance.

As a result of the upgraded designation of the Corporation as a Tier 1 Issuer pursuant to the Policies of the TSX Venture Exchange a total of 5,959,250 Common Shares will be released from escrow by the Transfer Agent in accordance with escrow agreement dated September 8, 2006 with the all remaining 1,625,250 Common Shares remaining in escrow to be released on, or about, September 8, 2009.

Advanced Explorations Inc. Closes Private Placement Financings for Gross Proceeds Exceeding $2,600,000

Advanced Explorations Inc. announce the close of its financings as press released August 13 & 17, 2009 for gross proceeds of $2,611,990. The first tranche of the financing for gross proceeds of $1,400,000 was closed on August 13th (see press release), and the second tranche (the "Second Tranche") of 6,902,222 flow-through units (the "FT Units") and non-flow-through units (the "NFT Units") for gross proceeds of $1,211,990 closed Aug 20, 2009. The Second Tranche was comprised of 5,888,555 FT Units at $0.18 and 1,013,667 NFT Units at $0.15.

Each FT Unit consists of one common flow-through share and one non-transferable, non-flow-through common share purchase warrant with a term of 12 months from the closing date of the Offering. The holder of warrants forming part of the FT Units shall be entitled to convert each whole warrant to a common share of the Company at an exercise price of $0.25 for 12 months following the closing of the Offering.

Each NFT Unit consists of one non flow-through common share and one non-transferable common share purchase warrant with a term of twenty-four months from the closing date of the Offering. The holder of warrants forming part of the NFT Units shall be entitled to convert each whole warrant to one common share of the Company at an exercise price of $0.20 in the first twelve months after the date issuance of the warrants and $0.30 thereafter until the expiry date.

In connection with this second tranche of the financing, the Company paid finder's fees amounting to a total of $90,007.20 in cash commission and 325,027 in broker's options. As part of the finder's fee payable by the Company, Sandfire Securities Inc. received a cash commission of $84,007.20 and 297,250 in broker's options. Finder's fees of $6,000 in cash and 27,777 broker's options were also paid to Limited Market Dealer Inc. Each broker's option will entitle the holder to purchase one unit for a period of one year from the date of issuance of the broker's option at an exercise price of $0.18 per unit. Each unit shall consist of one non-flow-through common share in the capital stock of the Company and one common share purchase warrant, each full share purchase warrant entitling the holder to purchase one non-flow-through common share for a period of one year from the date of issuance of the broker's option, exercisable at a price of $0.25 per common share.

All shares as part of the FT Units and NFT Units and pursuant to the exercise of the warrants and broker's options are subject to a hold period expiring December 21, 2009.

The gross proceeds raised from the flow-through funds will be used for exploration expenditures in the Company's Nunavut Roche Bay Magnetite Project, which will constitute Canadian exploration expenses (as defined in the Income Tax Act) and will be renounced for the 2009 taxation year.

Tenajon Shareholders Overwhelmingly Approve Business Combination With Creston

Creston Moly Corp. announce that at Tenajon's Annual and Special Meeting of Shareholders held on August 20, 2009, Tenajon's shareholders voted overwhelmingly in favour of the previously announced business combination, by way of Plan of Arrangement with Creston Moly Corp.

"We are extremely pleased that another step in our plan in creating a world class molybdenum explorer and developer in North America has been completed and are looking forward to making further advances," said Colin K. Benner, Chairman of Creston. "The Company has an advanced staged open pit mining project in Mexico with El Creston, and as well, now has a pipe line of projects with the Ajax and Moly Brook molybdenum assets in Canada. We are pleased that Bruce McLeod will be heading up the company as its new CEO, as his experience in mine engineering and development and his contacts in the investment community will aid greatly in moving the company forward. The new management team is capable of taking the Creston Project to production while advancing the other prospects in Creston's portfolio."

At the Tenajon Meeting, a special resolution approving the Arrangement (the "Arrangement Resolution") was passed by an affirmative vote of over the required two-thirds of the aggregate votes cast by Tenajon's shareholders present in person and by proxy at the Meeting. Specifically, 99.6% of the votes cast in respect of the Arrangement Resolution voted in favour of the Arrangement Resolution.

Subject to obtaining the approval of the Supreme Court of British Columbia, and satisfying certain other closing conditions, the Arrangement is expected to close on or around August 26, 2009. In conjunction with the closing of the Arrangement the Company advises that it will be terminating management contracts with three directors for total consideration of $189,000 cash and 1,890,000 shares, subject to regulatory approval.