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Wednesday, July 13, 2011

Goldcorp Supports Acquisition Of Primero Mining Corp By Northgate Minerals Corporation

GOLDCORP INC. today agreed to support the proposed transaction by which Northgate Minerals Corporation will acquire all of the issued and outstanding shares of Primero Mining Corp. The transaction will be effected through a plan of arrangement under the British Columbia Business Corporations Act.

Goldcorp controls 35.5% of the outstanding shares of Primero, and has agreed to vote its shares in support of the arrangement. Upon completion of the arrangement, Goldcorp will receive 46.7 million Northgate shares representing approximately 11% of Northgate's outstanding shares.

Goldcorp is one of the world's fastest growing senior gold producers. Its low-cost gold production is located in safe jurisdictions in the Americas and remains 100% unhedged.

Spanish Mountain Announces Closing of $20 Million Financing

Spanish Mountain Gold Ltd. announce that it has closed its private placement offering (the "Offering"), previously announced on June 30, 2011.

Pursuant to the Offering, 33,333,328 units (the "Units") have been placed at a price of $0.60 per unit for total gross proceeds of approximately CAD$20,000,000. Due to stronger than expected investor demand, the size of the Offering was increased by 8,333,328 Units for additional proceeds of $5,000,000. Each Unit consisted of one common share and one-half of one share purchase warrant ("Warrant"), with each whole Warrant entitling the holder to acquire an additional common share of the Company at a price of $0.70 per share for a period of two years.

Certain directors and officers of the Company including Mr. Ian Watson, the Chairman of the Board of Directors, have acquired an aggregate of 5.8 million Units for $3,480,000.

The proceeds from the Offering will be used to advance the development of the Company's Spanish Mountain gold project and for general corporate purposes. The Company plans to commence drilling of the gold in soil geochemical anomaly in the Cedar Creek area later this week. The centre of this area is located approximately 2.5 km west of the Main Zone of gold mineralization.

The Company is paying finders' fees of $416,000 in connection with the Offering. All of the securities issued under the Offering are subject to hold period which will expire on November 12, 2011 in accordance with applicable Canadian securities laws.

Brian Groves, CEO, comments: "We are very encouraged by investors' interest in this Offering. As a result of the financing and taking into account the well in-the-money warrants expiring next year, we will have sufficient funds in place to complete the preliminary and definitive feasibility studies for the Spanish Mountain gold project, as well as to drill our various exploration targets on the property. I look forward to reporting on our progress."

Sandstorm Gold Acquires a Gold Stream on the Xstrata Operated Bracemac-McLeod Property

Sandstorm Gold Ltd. announce the completion of a gold purchase agreement (the "Agreement") with Donner Metals Ltd. ("Donner") (TSX-V:DON - News) (via a back-to-back agreement with Sandstorm Metals & Energy Ltd. ("Sandstorm Metals & Energy") to acquire an amount of gold and gold equivalent based on production at the Bracemac-McLeod development property located in Matagami, Quebec (the "Bracemac-McLeod Property") and operated by Xstrata Canada Corporation ("Xstrata"). Donner is the owner of a 35% joint venture interest in the Bracemac-McLeod Property.

Sandstorm Gold has agreed to purchase an amount of gold and gold equivalent equal to 17.5% of the production from the Xstrata operated Bracemac-McLeod Property. Pursuant to the Agreement, Sandstorm Gold will make an upfront cash payment to Donner of US$5 million (the "Upfront Deposit") on June 30, 2012.

Sandstorm Gold will make ongoing per ounce payments equal to the lesser of US$350 per ounce of gold or gold equivalent and the then prevailing market price of gold (the "Per Ounce Payments"). Donner will have the option, for a period of 24 months, to repurchase up to 50% of the Agreement by making a US$3.5 million payment to Sandstorm Gold whereupon the percentage of gold and gold equivalent that Sandstorm Gold is entitled to purchase shall be decreased from 17.5% to 8.75%. Aside from the Upfront Deposit and Per Ounce Payments, Sandstorm Gold is not required to contribute to any capital, exploration or operating expenditures in respect to the Bracemac-McLeod Property. Sandstorm Gold has received a guarantee that the Corporation will receive minimum before tax cash flows of (i) US$0.8 million in 2013, (ii) US$1.4 million in 2014, (iii) US$1.4 million in 2015, and (iv) US$1.4 million in 2016, thus providing a 100% return of capital within approximately five years.

"We are pleased to have acquired a gold stream on a strong mine, operated by one of the world's largest mining companies," said President & CEO Nolan Watson. "The Donner transaction highlights the financing synergy that we envisioned when Sandstorm Metals & Energy was spun-out from Sandstorm Gold in early 2010."

Further to a metals purchase agreement with Donner, Sandstorm Metals & Energy has agreed to purchase an amount of copper equal to 17.5% of the copper produced from the Bracemac-McLeod Property, in exchange for making a payment of US$20 million upon the completion by Donner of certain funding conditions, which are expected to be completed in the near future.

For more information see the Sandstorm Metals & Energy press release at http://www.sandstormmetalsandenergy.com.

In addition, Sandstorm Gold has entered into a cooperation agreement with Sandstorm Metals & Energy whereby the two companies, where applicable, will work together to complete metal streaming transactions and share joint operating expenses.

Mammoth Energy Group to Create Non Executive Advisory Board

Mammoth Energy Group Inc., a lithium and alternative energy mining company announced today that it is creating a non executive advisory board for strategic consulting to the company. The board will be comprised of an international mix of advisors focused on the strategic development of the company and potential joint partners.

Mammoth Energy Group's wholly owned subsidiary Compania Lithium Investments Limitada of Chile has acquired more than thirteen thousand (13,000) acres of salar exploration rights in Chile.

The company is currently in acquisition mode and Compania Lithium Investments Limitada was created to acquire, develop and explore lithium and mining assets in Chile on behalf of Mammoth Energy Group Inc. The company expects to complete additional acquisitions throughout the third quarter.

Strike Minerals Amends Terms of Non-Brokered Private Placement of Up to $1,000,000

Strike Minerals Inc. wishes to announce that further to its press release dated June 20, 2011, the terms of the private placement have been revised to amend the Offering. Subject to regulatory approval, Strike proposes to complete, a non-brokered private placement of up to $1,000,000 consisting of up to $700,000 in Flow-Through Units ("FT Units") and up to $300,000 in Non Flow-Through Units ("Normal Units"). The non-brokered private placement will consist of combination of up to 8,235,294 FT Units at a price of $0.085 (revised from $0.09) and up to 4,615,385 Normal Units at a price of $0.065 (revised from $0.07), respectively, for the aggregate proceeds from the placement of both FT and Normal Units of up to $1,000,000. Foundation Markets Inc. ("Foundation") has been engaged to facilitate the Offering and will refer to the Company registered brokers and syndicate members ("Finders").

All other terms of the Offering have been adjusted accordingly to reflect the change.

The proceeds from the issuance of FT Units will constitute Canadian exploration expenses (as defined under the Income Tax Act (Canada)) and will be renounced for the 2011 taxation year. The proceeds of the Offering will be used to fund exploration programs, pursue acquisitions and for general working capital purposes.

Tuesday, July 12, 2011

Condor Discovers New Epithermal Gold-Silver Occurrence in Peru

Condor Resources Inc. announce that its ongoing generative regional exploration program in South America has resulted in the discovery and staking of a new precious metals occurrence in northern Peru in the same prolific volcanic belt that is host to Barrick Gold Corporation's Pierina and Alto Chicama gold mines.

Located 45 km south of the Peirina mine in the Cordillera Negra metallogenic province in the central Peruvian Andes, Condor's new 100% owned Quriurqu project is a high sulphidation gold-silver epithermal system, as evidenced by alteration assemblages and associated pathfinder minerals hosted in structures and hydrothermal breccias within Tertiary age dacitic ignimbrites.

Discovered by Condor's prospecting team, initial reconnaissance mapping has been carried out and 64 rock chip channel samples have been collected to date and analyzed by ALS Chemex laboratories in Lima, Peru. Gold and silver assays range from negligible to 5.9 g/t Au and 143 g/t Ag. A total of 57 of the 64 samples returned anomalous gold values in excess of 50 ppb, including 27 samples greater than 500 ppb and 18 samples in excess of 1 g/t Au. Detailed mapping and sampling have been scheduled for the 3 sq. km. property. Condor geologists believe that Quriurqu could host a disseminated bulk tonnage gold-silver deposit at depth. No previous sampling or other exploration has ever been conducted at Quriurqu. The project has never been drill tested.

Texas Business Prospers Off Unique Approach to Gold & Silver Buying

As analysts predict gold prices will continue to climb, customers of Gold & Silver Buyers, the largest purchaser of gold and silver in the state of Texas, are taking advantage of the company's larger than usual payouts. Gold & Silver Buyers credits the fact that because it owns its own gold and silver refinery, there is no middleman, and it is able to pay more than its competitors.

Gold & Silver Buyers is proud to be featured this month for paying the most for gold jewelry in a gold-buying segment of a new nationally-syndicated television show called Deals, which airs on ABC-TV's Live Well HD Network. The company has been spotlighted in numerous other media outlets both in Texas and nationally.

Also contributing to Gold & Silver Buyers' success, most of its more than 60 locations are inside or just outside well-known Texas grocery stores, and that attracts customers who feel much more at home in their local grocery than in a pawn shop or coin shop.

Gold & Silver Buyers President Larry Gray says, "It's a strategy that has worked tremendously well for us, not only in large markets, such as Houston, San Antonio and Austin, but also in the many smaller cities and towns where we are located, such as Waco, Brenham, Conroe and College Station. People feel comfortable when they stop by to see us as they pick up some milk and eggs for their families. We are pleased to serve customers from all walks of life—from the college student selling his high school class ring to the family selling a never-used silver tea set."

Gray adds, "Our locations are beautifully decorated and professional so it's like visiting your local bank. In fact, some of our employees were previously employed at local banks and made the switch to Gold & Silver Buyers after graduating from our extensive training program."

Gold & Silver Buyers recently opened a flagship location inside the Houston Galleria, a top tourist destination, where a master gemologist is on hand to appraise diamonds and other gemstones.

For more information about Gold & Silver Buyers, log onto www.goldandsilverbuyers.com.

Aura Minerals Awards Feasibility Study on Serrote Deposit to SNC-Lavalin Inc.

Aura Minerals Inc. announce that SNC-Lavalin Inc. and its Brazilian subsidiary, SNC-Lavalin Minerconsult Engenharia Ltda., have been awarded the definitive feasibility study on the advanced-stage Serrote da Laje deposit ("Serrote Deposit") at its wholly-owned copper-gold-iron ore Arapiraca Project in Alagoas State, Brazil. The feasibility study is underway and is scheduled for completion late in the first quarter of 2012.

The feasibility study will focus on developing the Serrote Deposit as an open pit mine that will supply sulphide ore to a concentrator, producing copper in concentrate with gold credits, as well as an iron in magnetite concentrate.

Commenting on this award, Mr. Tom Ogryzlo, Interim CEO of Aura Minerals, stated, "The commencement of the feasibility study is an important milestone for the project. We are very pleased to have selected SNC-Lavalin. We believe that their extensive knowledge and experience in the mining industry combined with their strong local presence in Brazil will be of great benefit."

Monday, July 11, 2011

Boise Entrepreneur Launches BX Drilling Supply

Daniel Brockett, a drilling and mining supply executive, has launched BX Drilling Supply in Boise. BX Drilling Supply offers a diverse range of products and supplies as well as logistics support, supply chain management and inventory management to the drilling and mining industry.

"After spending nearly a decade in the drilling and mining industry, it became evident to me that there is a need for a supply source that is responsive, nimble and reliable," said Brockett. "At BX Drilling Supply, we want our customers to know that they can count on us for superior customer service, exceptional quality and support well beyond our products."

BX Drilling Supply provides equipment and supplies for a wide array of drilling projects, including environmental, water well, mineral exploration, construction and horizontal directional drilling throughout North and South America. The company's product list includes core boxes, drill rods, casings, hammers, hammer bits, tricones, diamond core bits, drilling fluids, cement, compressors, drill rigs and support equipment. Brockett also offers inventory management to ensure proper inventory levels, cost benefit analysis to assess cost-per-foot and measure productivity as well as logistics support and supply chain management.

An experienced executive in the drilling and mining industry, Daniel Brockett has worked in both the products and drilling services sides of the business, overseeing operations with upwards of $100 million in revenues. Prior to forming BX Drilling Supply, he oversaw operations and business development in North and South America as vice president for AK Drilling. He also launched and grew AK Drilling's South American division while in this role. Previously he managed Boart Longyear's products division, serving the Western US and Mexico. During his tenure with Boart Longyear, he built one of the most successful teams in the organization. Through BX Drilling Supply, he remains committed to leading the industry by providing quality products and services and creating more efficient and profitable businesses for BX's customers.

More information about BX Drilling Supply is available at www.bxdrillingsupply.com.

Exit Only, Inc. Acquires Bayport Corporation and Begins Gold Production

Exit Only, Inc. announced that it has acquired Bayport Corporation, a Nevada corporation. With this acquisition, Bayport Corporation has obtained the controlling interest in the company. James L. Porter will serve as the President while Louis Porter will serve as the CEO of the surviving company. The new name of the company will be filed with FINRA to be changed to Bayport Corporation along with requesting a new stock symbol. Bayport has hired legal counsel for organizing financial data to immediately prepare for becoming current within the OTC market exchange.

Bayport Corporation has several subsidiaries and affiliates in gold mining as well as Rare Earths, precious minerals and metals. These interests are in Nevada, Utah, Colorado, and Wyoming. Its wholly-owned subsidiary, Cosmic American Rare Earth, Inc. (CARE), has secured a $50,000,000 Rare Earth IPO with Aegis Capital Corporation. Details will be announced in the future.

Non-dilutive financing has been secured. Equipment has already been mobilized and put in place beginning its placer gold mining operations on July 10, 2011 of which all required state permits and approvals have previously been in place with the U.S. Department of the Interior Bureau of Land Management (BLM). These interests are also in Nevada, Utah, Colorado and Wyoming. When mining operations have been up and running for a while, the company would like to invite shareholders out to an open house to give all investors a chance to see the company's operations and to meet management.

In addition to mining, Bayport has many interests in Seafood with their Lobster Pounds in Maine, plus their shrimp and lobster sales outlet in Las Vegas, Nevada. Bayport has other specialty sea foods from Louisiana, Alaska and Ecuador. Information about these interests along with Bayport's mining historical and progress reports will be published on the company's website to include the company's organizational chart to reflect the variety of assets owned by Bayport Corporation. The company's website is currently under construction and will be available in the near future to keep shareholders updated.

Bayport Corporation and Shats International Holdings, Inc. have both mutually agreed to cancel previous transactions that originated with Shats international Holdings, Inc. and other companies to allow for Bayport Corporation to focus on its primary mining operations and seafood sales. More announcements will be released to further explain Bayport Corporation's interest in three newly acquired gold mines and other advancements from their assets.

Pritchard Capital Partners, LLC Completes Sale of Ownership Interest

Pritchard Capital Partners, LLC , an independent securities firm focused on the energy sector, today announced that it had completed the sale of a minority ownership interest to selected institutional investors. The investment will assist in the growth of Pritchard Capital as it continues to expand its significant presence as a trusted advisor in the energy sector. Terms of the transaction were not disclosed.

Tommy Pritchard, CEO and Managing Director of Pritchard Capital commented, “The Energy Sector continues to see significant growth despite a weak economic recovery. The newly invested capital in our firm will allow us to continue to expand our organization, further enhancing our research, sales/sales trading, and investment banking products. I would like to welcome our new investors to Pritchard Capital as we move forward with executing our strategy to grow and better serve our clients.”

Sandler O'Neill & Partners, L.P. acted as Pritchard Capital’s financial advisor in connection with the capital raising process.