Month: May 2016

Millrock Closes Tranche Two of Non-Brokered Private Placement

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http://www.marketwired.com/press-release/millrock-closes-tranche-two-of-non-brokered-private-placement-2129990.htm

VANCOUVER, BC–(Marketwired – May 31, 2016) –  Millrock Resources Inc. (TSX VENTURE: MRO) reports that the final portion of the non-brokered private placement announced on May 4, 2016 has closed and a total of 10,670,660 Units at a price of $0.29 per Unit were issued for gross proceeds of $3,094,491.40. The Company raised a grand total of $3,596,191.40 in this financing.

Each Unit consisted of one common share and one share purchase warrant (a “Warrant”) entitling the holder to purchase one additional common share for $0.44 until May 25, 2019.

In Tranche 2, Finder’s fees were paid as follows: $17,922 and 61,800 Finder’s Warrants were paid to Sprott Private Wealth LP, $105,262 and 362,973 Finder’s Warrants were paid to Sprott Global Resource Investments, Ltd. and $6,090 and 21,000 Finder’s Warrants were paid to Red Plug Capital Corp. Each Finder’s Warrant entitles the Finder to purchase one additional common share for $0.29 for 2 years from the Closing Date.

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

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http://www.juniorminingnetwork.com/junior-miner-news/press-releases/1486-nysemkt/goro/20469-gold-resource-corporation-continues-returning-high-grade-drill-intercepts-at-switchback-including-9-50-meters-of-8-85-g-t-gold-669-g-t-silver-3-15-meters-of-15-79-g-t-gold-110-g-t-silver-and-13-23-meters-of-4-03-g-t-gold-114-g-t-silver.html

COLORADO SPRINGS, CO–(Marketwired – May 31, 2016) – Gold Resource Corporation (NYSE MKT: GORO) (the “Company”) today announced additional Switchback drill results from its Aguila Project’s Arista Mine. Gold Resource Corporation is a gold and silver producer with operations in Oaxaca, Mexico and exploration in Nevada, USA. The Company has returned $108 million to shareholders in monthly dividends since commercial production commenced July 1, 2010, and offers shareholders the option to convert their cash dividends into physical gold and silver and take delivery.

Bowmore Grants Stock Options

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http://www.stockhouse.com/news/press-releases/2016/05/31/bowmore-grants-stock-options

MONTREAL, QUEBEC–(Marketwired – May 31, 2016) – Bowmore Exploration Ltd. (the “Company” or “Bowmore“) (TSX VENTURE:BOW) (FRANKFURT:0B5) is pleased to announce that its Board of Directors have approved the granting of incentive stock options under the Company’s stock option plan to the Directors and consultants of the Company to acquire up to an aggregate of 3,600,000 common shares of Bowmore. All of the options are exercisable for a period of 5 years at a price of $0.10 per share.

Red Tiger Reports Year Ended December 31, 2015 Results

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http://www.stockhouse.com/news/press-releases/2016/05/31/red-tiger-reports-year-ended-december-31-2015-results

Toronto, Ontario / TheNewswire / May 31, 2016 – Red Tiger Mining Inc., (TSXV:RMN), (the “Company” or “Red Tiger”) today reported its financial and operating results for the year ended December 31, 2015. This press release should be read in conjunction with the Company’s audited consolidated financial statements for the year ended December 31, 2015 and Management’s Discussion and Analysis (“MD&A”) for the corresponding period, available on the Company’s website at http://www.redtigermining.com and on SEDAR at http://www.sedar.com.

Mexico’s Silver King Rides Metals Rebound to $1.3 Billion Gain

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http://www.bloomberg.com/news/articles/2016-05-31/mexico-s-silver-king-rides-metals-rebound-to-1-3-billion-gain

Metals magnate Alberto Bailleres is posting the biggest gains among Latin America’s wealthiest people thanks to a comeback in silver and gold prices.

Mexico’s second-richest man has added $1.3 billion to his net worth this year, buoyed by a surge at Industrias Penoles SAB and Fresnillo Plc, owner of the world’s largest silver mine. The 14 percent gain in the Bailleres fortune represents the biggest increase among the 10 richest people in Latin America.

Mexus Gold US: Santa Elena Mine Update

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http://globenewswire.com/news-release/2016/05/31/844524/0/en/Mexus-Gold-US-Santa-Elena-Mine-Update.html

CARSON CITY, Nev., May 31, 2016 (GLOBE NEWSWIRE) — Mexus Gold US (OTCQB:MXSG) (“Mexus” or the “Company”) announced that work on the Santa Elena mine is progressing as planned.   On My 24th, representatives from MarMar holdings and Mexus (JV members) held a meeting and adopted a mining plan with numerous items being discussed and agreed upon.  Out of this meeting came the decision to obtain a blasting permit in the name of the JV as opposed to using a blasting contractor.  The parties can control costs and manage the process more efficiently than using an outside vendor.   It will take 4 to 6 weeks to obtain this blasting permit allowing time for our partner to bring in additional equipment.   In the end, this property will be brought into full production faster and much larger than first anticipated.

Wealth Completes Listing on OTCQB® Exchange

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http://www.juniorminingnetwork.com/junior-miner-news/press-releases/1178-tsx-venture/wml/20396-wealth-completes-listing-on-otcqb-exchange.html

VANCOUVER, May 31, 2016 /CNW/ – Wealth Minerals Ltd. (the “Company” or “Wealth”) – (TSXV: WML; OTCQB: WMLLF; Frankfurt: EJZ), announces that effective immediately, it has completed an upgrade from the OTC Pink® market to the OTCQB® market.  The Company’s WMLLF trading symbol will be unchanged.

“Wealth believes that this upgraded listing will provide good support for the Company’s newly implemented US investor relations program.  The Company has seen an increase in U.S. trading over the past few weeks and we recognize and appreciate our US shareholders.” stated Henk van Alphen, Wealth’s President & CEO, “This upgrade, together with Wealth’s recently announced listing in the Mergent Manuals and News Reports ™, clears the way for greater liquidity in the US.”

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

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http://www.juniorminingnetwork.com/junior-miner-news/press-releases/964-tsx/svb/20431-silver-bull-to-complete-private-placement-of-cdn-1-000-000.html

Silver Bull Resources, Inc., (TSX:SVB) (OTCQB:SVBL) (“Silver Bull” or the “Company“) is pleased to announce its intention to complete the second and final tranche of the non-brokered private placement (the “Private Placement“) of units (the “Units“) of the Company announced on May 12, 2016. The Units will be issued at a price of CDN$0.13 per Unit. Each Unit will consist of one common share in the capital of the Company and one Common Share purchase warrant (a “Warrant“). Each Warrant shall entitle the holder thereof to acquire one common share at a price of CDN$0.16 until the date that is 12 months following closing of the Private Placement. If the closing price of the common shares of the Company on the OTCQB Venture Marketplace is US$0.18 or higher for five consecutive trading days then the Warrant will expire thirty trading days from such fifth consecutive day.

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

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Click to access article_05312016095059.pdf

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

Highlight for this batch of holes is SA-16-038 in a step-out hole, 350 metres west of the Main Zone, which yielded 46 metres core length (26 m true thickness) grading 156 g/t silver, starting from surface. Within this is a sub-interval of 8 metres (4.5 m true thickness) grading 282 g/t silver.