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Tuesday, August 31, 2010

Ritchie Bros. to sell large multi-component crushing plant in unreserved Dubai auction

Ritchie Bros. Auctioneers, the world’s largest industrial auctioneer, will sell a 2004 SBM STE160×130 closed circuit jaw/impact crushing plant along with hundreds of other equipment items and trucks during a three-day unreserved equipment auction in Dubai, UAE from September 27 – 29, 2010. The highly automated plant includes primary and secondary crushers, screens, generators, conveyors, a control house and more. It will be sold as one auction lot, with no minimum bids or reserve prices on Day 1 of the auction (Monday, September 27th). Complete details, photos and a video of the crushing plant are available at http://www.rbauction.com/crushingplant.

“It’s unusual to find a complete crushing plant of this size and in this condition for sale,” said Steve Barritt, Regional Manager Middle East, Turkey and the Red Sea, Ritchie Bros. Auctioneers. “The fact that it will be sold without minimum bids or reserve prices, just like every other item we sell at our auctions, makes it an extraordinary opportunity. If you’re in the market for a large industrial-sized plant, make sure you register to bid at our upcoming auction – because this plant will be sold to a new owner on auction day, regardless of price.”

The primary crusher is capable of running quarry material of up to 1.2 meters using a sensor-equipped dumb hopper and a hydraulic reciprocating feeder. This allows the plant to automatically feed the single toggle STE 160×130 primary jaw crusher, manufactured by MFL. The secondary crusher consists of two identical lines, each consisting of sensor-regulated hoppers, a crusher and two screens capable of producing 1,000 tons of finished products.

The three-day unreserved auction in Dubai will also feature a variety of used and unused construction and mining equipment, including crawler tractors, wheel loaders, articulated dump trucks, rock trucks, generator sets and many more items. All equipment items will be sold to the highest bidders with no minimum bids or reserve prices.

Ritchie Bros. will continue accepting equipment consignments in the coming weeks; owners interested in selling their equipment in the auction can phone the Dubai site to discuss their options.

Auction details
· Location: Ritchie Bros. Auctioneers’ Dubai auction site: Jebel Ali Free Zone, Dubai, United Arab Emirates
· Dubai auction site phone: +971.4.812.0600
· Time and date: Monday, September 27 to Wednesday, September 29, 2010. Auction starts at 9:30 each day (crushing plant will be sold September 27).
· Interested buyers can visit and inspect the crushing plant at its current location on Saturday, 25 September 2010. For more information, contact Steve Barritt at sbarritt@rbauction.com or +971.50.650.9540.
· Registration to bid is free. Interested buyers can bid in person at the Dubai auction site; online in real time at http://www.rbauction.com; or by contacting the Dubai auction site to place a proxy bid in advance.
· Full equipment details and photos can be found at http://www.rbauction.com.

Mineral Invest concludes agreement on gold deposits in north-eastern Democratic Republic of Congo (DRC)

Mineral Invest International MII AB (publ) has today through its local subsidiary, Mineral Invest Congo SPRL, after a long period of negotiations with the state owned mining company Office de mines de'Or de Kilo-Moto, OKIMO, acquired an exclusive license agreement regarding gold prospecting in the Kilo-Moto area. This area is located in the north-eastern part of Democratic Republic of Congo of (DRC).

The mining permits for the license area will be allocated to a partnership which will be formed between Mineral Invest and Okimo. "This is a world-class area which in our industry corresponds to several million ounces of gold" says Michael Nilsson, CEO Mineral Invest International MII AB.

Today, Okimo owns an area of 83,000 km2 in the Oriental province in north-eastern DRC whereof 20,000 km2 has been subject to geological survey. The appearance of gold was detected in the beginning of the 20th century and the area is regarded as one of the most promising gold mining areas in the world. The license area comprises 1,440 km2. The entire area has historically been subject to geological survey, and the interest from larger mining companies to acquire licenses has lately been in focus. Amongst these companies can be mentioned RandGold and AngloGold Ashanti. Also, smaller companies such as Mwana Africa operates in the province, where investments are made within the various area where prospecting activities are conducted.

Okimo is one of the largest state owned gold companies being responsible for managing and maintaining the mineral- and energy sector in the country. The company was founded more than 100 years ago having its head office in the capital Kinshasa. Okimo holds the fifth largest gold reserves of 23 million ounces, which corresponds to about 13 percent of the total world reserves.

Pavel Durnev, Chief geologist at Mineral Invest, says" The indicated gold content in the area has been ranging within 10 to 119 g/t and I think it is highly possible that the license area contains several million ounces of gold. A delegation, headed by Willy Bafoa Lifeta, CEO of Okimo, visited Stockholm in July this year, with the purpose to discuss ways and terms for future cooperation.

Willy Bafoa Lifeta comments "- I am looking forward to a fruitful and long lasting cooperation with Mineral Invest". "This gold license constitutes one of the most significant and interesting events within the Swedish mining sector. This license gives opportunities and challenges in a strongly expanding area. Our local work force is really looking forward to this" says Michael Nilsson, CEO Mineral Invest, continuing "A number of transactions have been conducted in the area. For example, Anglo American Gold acquired during 2009 Moto Gold at a price of around MUSD 545 for a license area directly adjacent to ours. This agreement will require strong financing strategy. We will revert within short on this issue" says Michael Nilsson.
"The license is the result of several years of work. As Mineral Invest’s product portfolio now gets considerably stronger, the organization and strategies will be reviewed and adapted to the new situation. To conform with the agreement we will allocate optimum resources to DRC. We have received a fantastic support from Okimo and their very competent personnel during the negotiations procedure, and we are really looking forward to coming activities in the WANGA area of the Oriental province" concludes Michael Nilsson.

Golden Goose and Kodiak Exploration Sign Binding Merger Agreement

Golden Goose Resources Inc. and Kodiak Exploration Limited announce that they have signed a binding definitive merger agreement. Golden Goose and Kodiak have agreed to proceed with a business combination by way of a corporate Arrangement pursuant to the provisions of the Companies Act of Quebec. The Arrangement will effectively combine the assets of both companies on a consolidated basis, with Golden Goose Resources becoming a wholly-owned subsidiary of Kodiak.

Under the terms of the definitive merger agreement between Golden Goose and Kodiak, shareholders of Golden Goose Resources will exchange their issued common shares for new common shares and warrants of Kodiak, on the basis of 1.2 new shares of Kodiak and one quarter (0.25) of a Kodiak Share Purchase Warrant for each outstanding share of Golden Goose Resources. The Kodiak Warrant is exercisable for three years at a price of $0.45 with an acceleration clause should Kodiak shares listed on the TSX Venture Exchange trade above $0.60 for twenty consecutive trading days. Upon closing the transaction, David Watkins, currently a member of the Golden Goose Board of Directors, will join the Kodiak Board of Directors.

Using a twenty day VWOP (Volume Weighted Opening Price through August 28, 2010) of $0.20 for Golden Goose shares and $0.21 for Kodiak shares, the 1.2 exchange ratio plus the fair value of the quarter Share Purchase Warrant ($0.03) produces a premium of 40% for Golden Goose shareholders.

All convertible securities of Golden Goose will be exchanged for convertible securities of Kodiak on the same basis, adjusted accordingly to reflect the share exchange ratio. The completion of the Arrangement is subject to standard conditions precedent applicable to statutory plans of arrangement, including standard commercial conditions precedent, approval of the common shareholders of Golden Goose, deregistration of Golden Goose shares in the US, and court approval. The transaction is scheduled to close in the fourth quarter of 2010.

A special general meeting of Golden Goose shareholders will be held early in the fourth quarter of 2010 to approve the Arrangement. Golden Goose shareholders will receive an Information Circular setting out further details of the proposed transaction; the Information Circular will also be filed and made available on SEDAR (www.sedar.com).

National Bank Financial acted as financial advisor to Golden Goose on this transaction; KPMG Corporate Finance Inc. and Casimir Capital L.P. acted as financial advisors to Kodiak in connection with this transaction.

Gold Bullion Expands Long Bars Zone Eastern Extension

Gold Bullion Development Corp. report that Phase 2 drilling continues to expand the LONG Bars Zone Eastern Extension mineralized area at its 100% owned Granada Gold Property in northwestern Quebec. Gold Bullion is aggressively exploring Granada, located five kilometers south of Rouyn-Noranda, as a potential near-surface, open-pit deposit along the prolific "Cadillac Trend" where numerous multi-million ounce deposits have been discovered and developed.

The LONG Bars Zone Eastern Extension is outside the LONG Bars Zone Preliminary Block Model where a significant potential non-compliant resource was detailed in the Company's April 22, 2010, news release.

A total of 41 Phase 2 holes have now been completed in the Eastern Extension covering an area measuring 450 metres north-south and 450 metres east-west. Over the last few weeks GENIVAR, the Company's geological consultant, has had the Eastern Extension drill rig operating mostly in between sections previously drilled to verify their continuity. Large alteration and intrusive zones have been identified in holes north, south, east and west of Phase 1 discovery hole GR-10-17. Visible gold, associated with pyrite and arsenopyrite, has also been observed in feldspar porphyry intrusions particularly in the northern half of the LONG Bars Zone Eastern Extension.

Infill drilling continues within the Preliminary Block Model where 43 Phase 2 holes have been completed (initial assays were released July 29, 2010, and included an interval of 1.07 g/t Au over 123.50 metres in GR-10-33).

A total of 17,000 metres of Phase 2 drilling, 85% of the planned program, has now been completed throughout the LONG Bars Zone (Preliminary Block Model plus the Eastern Extension). Mineralization remains open in all directions.

Romios Announces Closing of a Flow-Through Private Placement

Romios Gold Resources Inc. announced that it placed 2,000,000 units on a flow-through basis (the "FT Units") priced at $0.15 per FT Unit for gross proceeds of $300,000. Each FT Unit consists of one (1) flow-through common share (the "FT Share") and one-half (1/2) of a share purchase warrant (a "FT Warrant"). Each full FT Warrant entitles the holder to acquire a further common share of the Company at a price of $0.25 per common share until the earlier of: (i) the date which is twelve (12) months following the closing; and (ii) in the event that the closing price of the common shares on the TSX Venture Exchange is at least $0.50 for ten (10) consecutive trading days, and the 10th trading day (the "Final Trading Day") is at least four (4) months from the Closing Date, the date which is thirty (30) days from the Final Trading Day (the "Trigger Date").

All of the securities referred to herein are legended and restricted from trading until at least December 27, 2010.

The funds will be used for exploration on the Company's properties.

Paget Minerals Options Ben Moly Property to TTM Resources

Paget Minerals Corp. announced that it has entered into an Agreement with TTM Resources Inc. ("TTM") whereby TTM can acquire a 100% mineral interest in the Ben molybdenum property in the Nechako Basin, central B.C. The property consists of four mineral claims that lie south of and adjacent to TTM's Chu molybdenum project currently under active exploration by TTM.

Under the terms of the Agreement, Paget will receive 200,000 common shares in the capital of TTM and $32,880 as reimbursement for the total expenses incurred by Paget on the property upon receipt of regulatory approval. TTM is also required to expend up to $500,000, or such lesser amount as both TTM and Paget agree, in work expenditures on the property within a period of 12 months following the initial payment.

If, in the reasonable opinion of TTM, sufficient mineralization has been identified on the Property and commercial production is likely to occur within a period of five years from the date of the Purchase Agreement, Paget will have the right to back-in to the Ben project for a 49% undivided participating interest by paying TTM 49% of its total costs in connection with the property ("Back-In Right"). In the event that Paget exercises the Back-In Right, a joint venture will be deemed to have been formed and the parties will enter into a Joint Venture Agreement.

David Volkert, President & CEO of Paget Minerals, stated, "The agreement with TTM is in line with Paget's strategy of capitalizing non-core assets allowing Paget to invest funds on our precious metals properties in BC and Quebec."

Monday, August 30, 2010

Dianor Enters Into $10 Million Credit Agreement With Syndicate of Lenders

Dianor Resources Inc. announce that it has entered into a Credit Agreement dated August 28, 2010 with Third Eye Capital Corporation, as administrative agent, and a syndicate of lenders, pursuant to which the lenders have committed to provide up to $10 million in a term-credit facility to Dianor, subject to various terms and conditions.

"We are very pleased to have entered into this credit facility" said John Ryder, Dianor's President and CEO. "The funds that the credit facility will provide are intended to make Dianor's financial position much more secure and enable us to advance our bulk sampling project at the Leadbetter diamond property. This is a strong vote of confidence in Dianor."

The credit facility is a senior, secured, term-credit facility in the amount of up to $10 million, made available to Dianor in minimum advances of $1 million each, from time to time, until August 31, 2011. The Credit Agreement provides that the proceeds from the credit facility can be used by Dianor for, among other things: (i) the purchase of equipment for Dianor's Leadbetter diamond project; (ii) the completion of a bulk sampling project at Dianor's Leadbetter diamond property; (iii) the repayment in full of a secured loan made to Dianor by one of its directors; and (iv) expenses associated with the credit facility.

The credit facility will bear interest at an annual rate, compounded monthly, and paid monthly in arrears equal to a minimum rate of (a) the greater of 12% and the sum of 9% and the interest rate per annum announced by Royal Bank of Canada as its prime rate for commercial loans in Canada, if average aggregate advances outstanding during the month are $5 million or less; or (b) the greater of 15% and the sum of 12% and the interest rate per annum announced by Royal Bank of Canada as its prime rate for commercial loans in Canada, if average aggregate advances outstanding during the month are greater than $5 million.

All advances from the lenders to Dianor under the credit facility will mature on September 10, 2011, subject to Dianor's right to renew the credit facility for two successive one-year periods. The credit facility will be secured by, among other things, a mortgage and a hypothec over, and represents a first-priority interest in, all of the property owned by Dianor, including its full mineral-resource rights, subject to certain permitted liens.

In consideration for the credit facility, Dianor has agreed to issue to the lenders, upon the first advance under the credit facility, 3,800,000 common shares and 34 million common share purchase warrants. Each of the 34 million warrants will entitle its holder to purchase one additional common share of Dianor at a price of $0.10 for three years. In accordance with the policies of the TSX Venture Exchange, the warrants must be reduced on a pro rata basis if advances under the credit facility are repaid by Dianor in the first year of the credit facility.

The first advance under the credit facility cannot exceed $1,000,000 and is subject to a number of conditions, including the execution and delivery of loan documentation in form and substance satisfactory to the lenders, the issuance of a receipt by the Canadian securities regulatory authorities for Dianor's final base shelf prospectus in respect of Dianor's equity line of credit with Kodiak Capital Group, LLC, and evidence that Dianor has requested an initial draw down of at least $500,000 under the equity line of credit. Dianor expects to file a final base shelf prospectus in respect of the equity line of credit shortly. However, Dianor cannot give any assurances that it will be able to satisfy all of the conditions under the credit facility.

Canadian Mining Grants Extension to Heemskirk on Bromley Creek Zeolite Mine

Canadian Mining announces it has granted an extension on the Option to Purchase to Heemskirk Canada Limited on the Company's Bromley Creek zeolite mine. The maturity date of the Agreement is June 30, 2015.

As activity increases in the Alberta oil patch and other zeolite markets open up the demand for the Company's Bromley Creek zeolite will grow. Under the terms of the agreement, Heemskirk Canada will pay Canadian Mining a royalty of $7.50 per tonne on zeolite sold from the mine. This royalty payment will be deducted from the purchase price of $1,450,000.00.

Heemskirk will be responsible for all mining, loading areas, road access, reclamation reports and insurance during the term of the agreement. Canadian Mining is extremely pleased to continue their working relationship with Heemskirk Canada Limited.

In other news, Canadian Mining is planning to advance several of its Canadian industrial and precious metal properties located in British Columbia. News will be issued as it becomes available.

Canadian Mining is a well diversified company with advanced projects in Mexico, Arizona and British Columbia, Canada.

Tuesday, August 24, 2010

New Strategic Acquisitions for Midland East of the Duparquet Gold Mining Camp

Midland Exploration Inc. announce the acquisition by staking of two new claim blocks with strong gold potential, located along the eastward extension of the Duparquet gold mining camp. These two new claim blocks, known as Bassignac and Highway, are wholly owned and respectively consist of 25 claims totalling 1,281 hectares and 7 claims covering about 211 hectares. These new strategic acquisitions are located only 25 kilometres north of Rouyn-Noranda, in the Abitibi region of Quebec.

The Highway block is the furthest to the west and is located about 12 kilometres from the Beattie and Donchester deposits, where resources are estimated at 2,095,389 gold ounces based on a cut-off grade of 1.0 g/t Au (Source: 43-101 report published in October 2009 by Peter Bevan). A major drilling program, by Osisko Mining Corporation in partnership with Clifton Star Resources, totalling 120,000 metres is currently underway on these deposits. Recently during this drilling program, a drill hole intersection returned 7.54 g/t Au over 25.2 metres (Source: Osisko Mining Corporation press release dated August 5th, 2010). During a recent field visit of the Highway property, Midland geologists confirmed the presence of a major east-west-trending fault zone subsidiary to the Destor-Porcupine Fault, which is located just 3.5 km further south. This structure marks the faulted contact between conglomerates of the Duparquet Group and volcanic rocks of the Deguisier Formation.

The Bassignac block is located just 6 kilometres further east, along the same structure but in a location where a few km-scale lens-shaped magnetic signatures, similar to the magnetic signature associated with gold-bearing syenite intrusions occurring in the Beattie-Donchester area in Duparquet, were identified.

A compilation of previous work conducted on the two blocks indicates the faulted contact, traced over more than 4 kilometres strike length, has never been tested by induced polarization geophysical surveys. Several gold showings and deposits are known along this structure to the west of Midland's claim blocks, such as the Central Duparquet No. 1 zone, estimated at 574,196 tonnes grading 5.1 g/t Au. Further east, the Central Duparquet No. 2 showing yielded drill results reaching 2.7 g/t Au over 7.6 metres, and the Jacques showing yielded a drill intersection grading 4.96 g/t Au over 3.3 metres (Source: MRNF SIGEOM map sheet 32D11).

Midland strongly believes these two new properties have an excellent potential to host porphyry-type gold mineralization proximal to a major east-west-trending fault zone subsidiary to the Destor-Porcupine Fault.

Laurion Announces Aggressive Drill Program on Bell Mountain Gold Project, Nevada

Laurion Mineral Exploration Inc. announced the commencement of an aggressive drill program on the Bell Mountain gold project located in Churchill County, Nevada.

"This drill program is designed to expand and confirm the resource on two zones that have the best potential to significantly increase gold-silver resources to generate a NI 43-101 compliant resource estimate prior to year end. The majority of the drilling will be completed on the bulk of the known resource in the Varga zone with additional drilling planned on the Spurr zone located west of the Varga." announced Laurion's President and CEO, Cynthia Le Sueur-Aquin.

The reverse circulation ("RC") drill program of 11,600 ft., involves drilling 52 holes ranging from 100 ft. to 350 ft. in depth. A comprehensive historical resource (non NI 43-101 compliant) of 2.1 Mt @ 1.3 g/t gold and 37.6 g/t silver was defined by N.A. Degerstrom ("Degerstrom") in 1992 on the Varga and Spurr zones. Degerstrom completed a detailed feasibility study and permitted for production, the design and construction of three open pits and heap leaching and processing facilities. Falling metals prices caused Degerstrom to shelve the project.

Note: The historical estimate above should not be relied upon. A qualified person has not done sufficient work to classify the historical estimates as current mineral resources or reserves and the Company is not treating the historical estimates as current mineral resources or reserves.

A careful review of existing drilling data on the Varga reveals that the zone is open to depth and along strike to the east and west. The drill holes are sited to test the apparent extensions of known mineralization both along strike and to greater depths. It is likely that the previously designed Degerstrom Varga pit can be extended from 60 to 100 ft. deeper in the center and to similar depths to the east and west, below existing drilling, over the 800 ft. strike length of the pit. Additionally it is expected that the drilling program will extend the mineable mineralization to at least 160 ft. to the east of the pit. The western portion of the Varga vein system, above the Varga adit, was not included in the original Degerstrom pit plan. Assay results from sampling of the vein in the adit and on surface and from six scattered Degerstrom drill holes suggest that systematic drilling will demonstrate that this 650 ft of strike length may be added to the resource.

The Spurr zone located 650 ft. west of the Varga adit has a known mineralized strike length of 850 ft. This Spurr zone was drilled on a sufficiently close spacing for resource estimation and was included in Degerstrom's mining plan. The body of mineralization remains open with depth. Twelve holes have been planned with the objective of testing the extension of mineralization for another 100 ft. down dip. Two additional holes are planned to test an apparent mineralized, but not previously drilled vein segment located between the Spurr and Varga zones. A total of 3,150 ft of drilling is required to complete the Spurr drilling program.

Otish Energy Releases NI 43-101 Technical Report on Puruni Gold Project, Guyana

Otish Energy Inc. announce the release of its NI 43-101 complaint Technical Report describing in detail the geology and gold potential of the Puruni Gold Project, Mazaruni Mining District, Guyana.

This report is written in compliance with requirements of National Instrument 43-101 and Form 43-101F1 and is in support of documentation to be filed with the British Columbia Securities Commission and the TSX Venture Exchange in support of Otish Energy Inc. entering into a purchase agreement with Trevor Taylor on the Puruni Project area (Henry Alphonso and Salim Kayum Permits).

The report provides the first detailed summary of the geology, history and exploration of the Puruni Property. The report is available at www.sedar.com and will be added to the company's website at www.otishenergyinc.com.

The NI 43-101 Technical Report for the Puruni Project was completed by Ulrich H. Kretschmar PhD, P.Geo (ON), of Orillia, Ontario. Mr Kretschmar is a Qualified Person for the purpose of Canadian NI 43-101, Standards of Disclosure for Mineral Projects.

The author of the Report collected 15 samples of saprolite, alluvium, sluice box tailings, black sand, and grab samples of bedrock quartz veins material with visible gold from the property. The quartz veins grab samples returned assays of 40.5 oz Au/ton (1390 g/t), 61.1 oz Au/ton (2090 g/t), 215.5 oz Au/ton (7389 g/t), and 397.2 oz Au/ton (13618 g/t) - duplicate ran 430.6 oz Au/ton (14764 g/t), while sluice box tailings returned 0.81 oz Au/t (27.7 g/t) and 0.99 oz Au/t (34.2 g/t).

The Puruni Project area (Alphonso and Kayum Permits) consists of five (5) Mining Permits - Medium Scale (MP) and one (1) Prospecting Permit - Medium Scale (PPMS) totalling in area approximately 36 km2 (approx. 9000 Acres). These Mining and Prospecting Permits were acquired from the Guyana Geology and Mines Commission - the statutory body responsible for Exploration & Mining in Guyana, by Henry Alphonso and Salim Kayum of Georgetown, Guyana in 2003. The permits are traversed by the Puruni River in the middle Puruni River Area, Mazaruni Mining District No.3, Guyana, N.T.S. Sheet Puruni - 26 SW.

The northernmost boundary of Puruni Project property lies approximately 2.5 km south of the Peters Mine Concession (Guyana Goldfields Inc.) which was subjected to a number of regional airborne and ground exploration surveys that focused on the Peters Mine Concession. The Peters Mine was discovered in the 1890's by porknockers (local terminology for placer miners/prospectors) and underground development and mining was in operation between 1904 and 1909. During this period approximately 1,240 kg (40,000 oz) of gold was recovered from 63,000 tons of material mined (a recovery grade of 19.7 g Au/T). It is reported that the head grade was in excess of 41 g Au/T.

The Puruni Project area has a well documented history of alluvial mining in the active river channel, saprolite mining on land adjacent to the river bank and lode gold underground mining at the Peters Mine. In early 2009, while mining the saprolite and elevated gravel terraces adjacent to the river bank, two high grade veins was uncovered similar in characteristics to the quartz veins mined at Peters Mine.

Randy Singh P. Geo (ON), P.Eng (ON) a "qualified person" as such term as defined by National Instrument 43-101, has verified the data disclosed in this news release, and has otherwise reviewed and approved the technical information in this news release on behalf of the Company.

Guyana is the only English speaking country in South America and has demonstrated itself to be a mining-friendly and stable democratic country toward direct foreign investments in the mining sector. The Land Tenure Act, legal statutes and the legal system are based on the Roman Dutch Laws modified by British Common Laws. Guyana has well developed and uniformly administered tax laws, mining laws and general business systems, especially geared toward the mining sector that includes duty and tax-free imports for mining and forestry equipment.

Several major and successful natural resource deposits have been commissioned by foreign investors including (Omai Gold Mines) - IamGold Inc., (Aurora gold deposit) - Guyana Goldfields Inc., (Arorima Bauxite Mine) - United Company Rusal of Russia and (Guymine Bauxite Mine) - Bosai Mineral of China. There are also a number of Canadian junior exploration companies operating in Guyana including Sandspring Resources, Shoreham Resources, GMV Minerals, Gold Port Resources and First Bauxite Inc.

The Company plans to conduct a systematic exploration program to evaluate and develop the gold potential of the property, including line cutting, soil sampling, geological mapping and chip sampling, channel sampling of the quartz veins and saprolite, trenching, a ground gradient magnetic survey, followed by diamond drilling.

Monday, August 16, 2010

La Quinta Resources Announces Commencement of Its Drilling Program at Easter Project

La Quinta Resources Corporation report that it has commenced its drilling program on its Easter Project located in S.E Nevada.

La Quinta plans to drill approximately 3,200 ft of reverse circulation percussion drilling in 16 drill holes sited in the outcrop of the Main Vein at Easter. Hole depths will average 200 ft, and are designed to be integrated with the recently completed 43-101 compliant resource calculation. The core area of mineralization has an outcrop approximately 1,000 ft in strike length with additional flexure segments on both the east and west aggregating more than 1,500 ft total exposed veining. The main outcrop is exposed as much as 200 ft above the valley floor with widths of 30 ft to more than 100 ft. This program is designed to sample the previously unsampled exposed part of the Main Vein in multidimensional aspect.

Wednesday, August 11, 2010

Typhoon Has Begun Its Drilling Campaign of 15,000 Meters at Fayolle

Typhoon Exploration Inc. announces that since July 8, 2010 it has begun its drilling campaign of 15,000 meters on the Fayolle Project, as part of its agreement with Aurizon Mines Limited. To date 5 drill holes have been completed.

The drilling activity began in the area of the Fayolle Deposit with the objective to confirm the geologic model defined during the geoscientific compilation conducted in 2009.

The company is very optimistic for the future of the Fayolle Project. The metallogenic context of the Fayolle project is favourable to the existence of porphyry-type gold mineralization. The mineralized zones on the Fayolle Deposit are distributed along a major shear corridor of approximately 2.5 km long by 1 km wide, all while remaining open at depth. The property contains inferred mineral resources totaling 113,000 ounces of gold, which have been delineated to date down to 100 meters at a grade of 1.6 grams of gold per tonne using a cutoff grade of 0.5 grams per tonne (Reference: "Mineral Resources Evaluation of the Fayolle Gold Deposit / 43-101 Technical Report" dated February 21, 2007, available on SEDAR). Higher gold grade intervals in the range of 10 to 40 grams per tonne have been encountered over 3 to 30 meters during previous drilling. It is to be noted that the Fayolle project is in a great geographical position being located in the heart of Abitibi's well established mining projects and infrastructures.

The common shares of Typhoon Exploration are listed on the TSX Venture Exchange under the symbol "TYP".

Element92 Resources Corp. to Acquire Third Gold Mine in China

Element92 Resources Corp. announced that it has executed a sales & purchase agreement to acquire a gold mine in Guangdong Province, China.

The Company is acquiring 100% of the Guolanchong gold mine, a producing gold property with a mining license for 0.8 sq. km, by the issuance of 26.88 million newly issued restricted shares. The closing is scheduled for September 30, 2010.

Daniel Mckinney, CEO remarked, "Our chief geologist, Daniel Huang, returned from the mine yesterday and commented that this mine acquisition would almost double our current ore assets."

The Company has applied for an exploration license for a total of 18 sq km of favorable mineralization zones surrounding the existing mining license area. The application has being processed with the related government authorities.

The area has gold mining history going back more than 100 years. The placer gold deposits in the down stream riverbeds are well developed, and placer gold mining is still active. A series of geological surveys and explorations have been conducted in the area since 1960.

Element92 Resources Corp. is a mineral exploration and mining company incorporated in the state of Wyoming. The Company owns two gold mines in Shandong, China, and holds options on fourteen mineral claims located in Huddersfield Township and Clapham Townships in the Province of Quebec, Canada. E92R trades on the OTCBB under the symbol "ELRE." The transfer agent is Transfer Online, Inc. of Portland, Oregon.

Tuesday, August 10, 2010

RockBridge Completes Prospecting and Proceeds With Plans for Drilling

RockBridge Resources Inc. has completed the summer prospecting of the Cross Hills Newfoundland Rare Earth and Copper property, and all samples have been sent to Activation Laboratories in Ontario for analysis. Accordingly, RockBridge is now proceeding with its plans for drilling to commence upon award of the contract.

In addition, RockBridge has been successful in application for a Government of Newfoundland and Labrador Department of Natural Resources Mineral Incentive Program Junior Exploration Assistance Grant which is designed to defray 50% of approved eligible costs, to a maximum grant of $100,000.

RockBridge President, Gary Mathiesen, stated "There are similarities between the geology, age and mineralization findings of our property and that of the major deposits in Saudi Arabia which suggests some potential for major Rare Earth Element mineralization. With China supplying more than 95 per cent of the global output of rare earth oxides while sitting on nearly 60 per cent of the world reserves, and cutting export quotas for Rare Earth Elements by 72%, the tightening of supply regulations obviously provides additional motivation as we prepare to drill in the coming weeks."

Strategic Mining Announces Filing of Form 10-A with the SEC and Moves to OTCQB Tier

Strategic Mining Corp. announced that it has filed the amendment (10a) to the Form 10 that includes first quarter financials on August 9, 2010. The filing of the Form 10a immediately moves the company to the OTCQB tier with current status. The company has also sent a response letter to the SEC in order to continue the process to move to the Bulletin Board.

The company filed a Form 10 with the SEC on April 30 to initiate the process to move to the Bulletin Board. As of June 30, Strategic Mining is subject to all of the reporting requirements of the Securities Exchange Act of 1934. The Bulletin Board reaches a much wider audience both domestically and internationally. Strategic Mining is now a reporting company offering more transparency while investors and their brokers would have greater ease and less restrictions to monitor, buy and sell the company's stock.

President, Todd Sterck commented: "We are pleased to now be under the jurisdiction of the SEC with full transparency to the investment community. We look forward to be listed on the Bulletin Board and are taking all the necessary steps to accomplish this goal".

Strategic Mining Corporation is engaged in the exploration and development of gold properties in Vietnam, the US (Nevada/Utah) and Africa. The company intends to expand by acquiring mineral rights to more key properties and initiating strategic joint ventures.

VMS Ventures Outlines Plans for Diamond Drilling at the Copper-Rich Reed Lake Joint Venture Property

VMS Ventures Inc. announce plans for a diamond drill program to begin shortly at the copper-rich Reed Lake deposit, which is the subject of a joint venture between the Company and HudBay Minerals Inc.

The Reed Lake deposit is a base metal massive sulphide-type deposit near HudBay's concentrator in Flin Flon, Manitoba. On July 6, 2010 the Company and HudBay announced that they had entered into a joint venture agreement pursuant to which HudBay has a 70% interest and the Company has a 30% interest in the Reed Lake property and the two claims immediately to the south. The parties have also entered into four option agreements which grant HudBay the right to earn a 70% joint venture interest in properties held by the Company adjacent to the Reed Lake property.

Drilling will commence with one drill on the Reed Lake deposit during the second week of August, 2010. A second drill is expected to be mobilized on the property in approximately one month. Twenty drill holes are planned for a total of 7,000 metres in this initial program.

The initial drilling program is designed to test the continuity and metallurgical characteristics of the deposit. The drill collars will be established on 40-50 metre centers to provide the necessary data to allow the completion of a National Instrument 43-101 compliant resource estimate, which HudBay has announced is scheduled for completion by the end of 2010. The drilling will be done on sections to establish the true width and strike of the deposit. Some holes, drilled previously by VMS Ventures, will be resurveyed to confirm hole location. The high-grade core of the deposit will be targeted initially, with drilling then moving outwards to explore the periphery of the deposit. Mineralization will be followed down plunge to assess exploration potential.

VMS Ventures President John Roozendaal states, "VMS is very excited to see drilling resume at the Reed Lake deposit and we are pleased that HudBay is on the ground so quickly after the signing of the joint venture agreement. We left the project almost two years ago when markets were in the lows of 2008. To have copper prices over $3.00 again as we revisit this high grade deposit is very encouraging for our shareholders. The deepest drill hole to date, estimated to have intersected mineralization to a depth of approximately 450 metres returned 39.71 metres of 4.04% copper. The Company is particularly interested in the drilling that will investigate the geology below this level. We look forward to the coming months of drilling at, and around the deposit, and on the very prospective surrounding claim blocks we have optioned to HudBay."

The Reed Lake properties are all located in Manitoba's Snow Lake - Flin Flon Greenstone belt.