Month: October 2015

Almaden Enters Into Mill Purchase Option Agreement; Significantly Reduces Capital Cost of Ixtaca “Ramp-Up” Scenario

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http://www.juniorminingnetwork.com/junior-miner-news/press-releases/825-tsx/amm/12669-almaden-enters-into-mill-purchase-option-agreement-significantly-reduces-capital-cost-of-ixtaca-quot-ramp-up-quot-scenario.html#.ViWoseSFNMs

VANCOUVER, BC–(Marketwired – October 19, 2015) – Almaden Minerals Ltd. (TSX: AMM)(NYSE MKT: AAU) is pleased to announce that it has entered into an option agreement entitling it to purchase assets (the “Assets”) which, when taken together, constitute the Rock Creek mill. The Rock Creek mill is located just outside of Nome, Alaska.

Morgan Poliquin, President and CEO of Almaden, commented: “This is a significant transaction for Almaden. This mill is very well suited to the flow-sheet we envisage at our Ixtaca project in Mexico, and represents the same throughput as we outlined in our ‘ramp-up’ scenario in our PEA Update announced in September, 2014.

Mexus Commences Drill Pad Construction for Argonaut

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http://globenewswire.com/news-release/2015/10/19/777143/0/en/Mexus-Commences-Drill-Pad-Construction-for-Argonaut.html

CARSON CITY, Nev., Oct. 19, 2015 (GLOBE NEWSWIRE) — Mexus Gold US (OTCQB:MXSG) (“Mexus” or the “Company”), President/CEO Paul Thompson today announced that Argonaut Gold (TSE:AR) has been granted a permit by SEMPRAS to begin drilling at the Julio/Martha Elena property. Argonaut has contracted with Mexus to build roads and drill pads as necessary. The company began this work on October 16th. Added CEO Thompson, “I feel as if Argonaut is ahead of schedule and am pleased with the progress to date.” – See more at: http://globenewswire.com/news-release/2015/10/19/777143/0/en/Mexus-Commences-Drill-Pad-Construction-for-Argonaut.html#sthash.cFpbaFSr.dpuf

Timmins Gold Announces Closing of C$6 million Private Placement

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VANCOUVER, BRITISH COLUMBIA–(Marketwired – Oct. 19, 2015) – Timmins Gold Corp. (TSX:TMM) (NYSE MKT:TGD) (“Timmins Gold” or the “Company”) is pleased to announce, further to its news release of September 18, 2015, the closing of a C$6.0 million non-brokered private placement by Goldcorp Inc. (“Goldcorp”) consisting of 20 million units of Timmins Gold (the “Private Placement”) at a price of C$0.30 per unit.

The use of proceeds of the Private Placement will be to pay for the cost of the removal of the plant from the El Sauzal Mine site.

Aurcana Production Results for Q3 2015

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VANCOUVER, BRITISH COLUMBIA–(Marketwired – Oct. 19, 2015) – Aurcana Corporation (“Aurcana” or the “Company”) (TSX VENTURE:AUN)(OTCQX:AUNFF) is pleased to report the Q3 2015 production results of 842,334 ounces silver equivalent compared to 997,530 in Q3 2014, a decrease of 16%. Silver production decreased by 15% to 348,764 in Q3 2015, compared to 412,063 in Q3 2014. Although milling and mining production increased during the third quarter, production occurred in lower grade areas of La Negra mine.

Canarc to Lease Fully Permitted Processing Plant in Zacatecas Mexico

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http://www.fscwire.com/newsrelease/canarc-lease-fully-permitted-processing-plant-zacatecas-mexico

Vancouver, British Columbia (FSCwire) – Vancouver, Canada – October 19, 2015 – Canarc Resource Corp. (TSX: CCM, OTC-BB: CRCUF, Frankfurt: CAN) announces that it has been granted the right by the Zacatecas state government to enter into an exclusive agreement to lease their fully permitted 500 tonne per day processing plant “La Plata” in the city of Zacatecas, Mexico.

 

Canarc plans to use the plant starting in 2016 for processing ore from Canarc’s recently acquired, fully permitted, El Compas Mine, located 20 kilometers away from the plant by road near the southern city limits of Zacatecas and for toll milling up to 100 tonnes per day of ore from local small miners.

Alamos Announces Change to its Board of Directors

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TORONTO, ONTARIO–(Marketwired – Oct. 16, 2015) – Alamos Gold Inc. (TSX:AGI)(NYSE:AGI) (“Alamos” or the “Company”) today announced that Scott Perry has resigned from the Company’s Board of Directors following his appointment as Chief Executive Officer (“CEO”) of another intermediate gold producer.

Alamos is a Canadian-based intermediate gold producer with diversified production from three operating mines in North America. This includes the Young-Davidson mine in northern Ontario, Canada and the Mulatos and El Chanate mines in Sonora State, Mexico. Additionally, the Company has a significant portfolio of development stage projects in Mexico, Turkey, Canada and the United States. Alamos employs more than 1,300 people and is committed to the highest standards of sustainable development. The Company’s shares are traded on the TSX and NYSE under the symbol “AGI”.

Red Tiger Announces Closing of Private Placement Offering

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http://www.juniorminingnetwork.com/junior-miner-news/press-releases/1567-tsx-venture/rmn/12614-red-tiger-announces-closing-of-private-placement-offering.html#.ViHlI-SFNMs

TORONTO, Oct. 16, 2015 /CNW/ – Red Tiger Mining Inc., (TSXV: RMN), (“Red Tiger” or the “Company“) is pleased to announce that it has closed on 32,200,000 common shares (each, a “Common Share“) of its previously announced private placement (see Press Release August 14th, 2015) for CAD$1,610,000 (or CAD$0.05 per Common Share). The Common Shares issued under the Private Placement will be issued in two tranches: under the first tranche 15,863,336 Common Shares (the “First Tranche Shares“) were issued on October 16, 2015 to Gerald Metals S.A. (“Gerald“) and insiders of the Company; and under the second tranche 16,336,664 Common Shares (the “Remaining Shares“) will be issued to Gerald upon acceptance by the TSX Venture Exchange (the “TSXV“) of the Personal Information Forms (“PIFs“) of Gerald’s directors and the receipt by Gerald of the TSXV’s conditional approval of the issuance by Red Tiger to Gerald of the Remaining Shares (the “TSXV Acceptance and Approval“).

Red Tiger is engaged in copper cathode production, and in the exploration and development of copper and gold projects through its wholly-owned subsidiary, Minerales Libertad, S.A. de C.V. (“Minerales”) at San Antonio de la Huerta, in the state of Sonora, Mexico.

Cyprium Mining Announces Private Placement, Updated on Proposed Potosi Joint Venture

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Click to access article_10162015112352.pdf

Montreal, Quebec – (October 16, 2015) Cyprium Mining Corporation (“Cyprium” or the “Company”) (TSX-V: CUG and CUG.DB) is pleased to announce that it intends to complete a nonbrokered private placement of common shares (the “Common Shares“) of the Company in an amount up to $500,000 at a price of $0.11 per Common Share (the “Offering“).

Alain Lambert, Chairman and CEO of Cyprium stated: “Following our announcement on the proposed joint venture for the exploitation and exploration of the Potosi silver mine located in the historic silver rich mining district of Santa Eulalia in Mexico, we were approached by investors wanting to participate in our future growth by way of equity.

Aurcana Corporation Announces Restructuring Transaction and Amendment of Senior Secured Credit Facility

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http://www.baystreet.ca/articles/news-article.aspx

VANCOUVER, BRITISH COLUMBIA–(Marketwired – Oct. 16, 2015) – Aurcana Corporation (TSX VENTURE:AUN)(OTCQX:AUNFF) (the “Company” or “Aurcana”) announces that it has entered into a Support Agreement (the “Support Agreement”) with Orion Mine Finance (Master) Fund I L.P. (the “Lender”) as lender under the amended and restated senior secured credit facility dated April 29, 2014 (the “Facility”) to effect a restructuring transaction in connection with the debt obligations under the Facility (the “Restructuring Transaction”). The Company also announces certain amendments to the Facility.

Aurcana Corporation is a primary silver producing company with two properties: the La Negra Mine in Mexico and the Shafter Silver Project in Texas, US. The latter was put on care and maintenance in December 2013, in part due to depressed silver prices.