MEXICAN GOLD ANNOUNCES GRANT OF OPTIONS

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April 20, 2018 – Mexican Gold Corp. (“Mexican Gold” or the “Company”) (TSX-V: MEX/
OTCQB: MEXGF / FRA: 4QW1) announces that it has granted 174,000 incentive stock options to directors and officers of the Company pursuant to Mexican Gold’s Stock Option Plan. The options are exercisable at a price of $0.39 for a period of ten years. The options vest as to one-third after twelve, eighteen and twenty-four months respectively from the effective date of the grant. A total of 74,000 of the
incentive stock options granted will be subject to the approval of the disinterested shareholders at the next annual and special meeting of shareholders of the Company.

Aura Silver Announces Non-Brokered Private Placement

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Aura Silver Resources Inc. (TSX-V: AUU) (“Aura Silver” or the “Company”) announces that it is undertaking a non-brokered private placement offering to raise gross proceeds of up to $600,000. The Company has applied for, and received, conditional approval from the TSX Venture Exchange for a waiver from the five-cent minimum price requirement. Under the terms of the proposed offering, Aura Silver would issue a minimum of 5,000,000 units for gross proceeds of $150,000 and a maximum of 20,000,000 units for gross proceeds of $600,000. The units would be issued at $0.03 (3 cents) per unit (the “Offering”).

Prospero Announces C$1.0m Private Placement

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April 16, 2018 – Prospero Silver Corp. (TSX-V: PSL; the “Company” or “Prospero”) is pleased to announce that it proposes to complete a non-brokered private placement of up to 11.1 million units at a price of $0.09 per unit (a “Unit”), for gross proceeds of up to $1,000,000. Each Unit will consist of one common share of Prospero (a “Share”) and one-half of a non-transferable share purchase warrant exercisable for a term of two years, subject to the acceleration terms described below (a “Warrant”). Each whole Warrant will entitle the holder to purchase one additional Share at an exercise price of $0.16 per Share. Finder’s fees may be payable on all, or part, of the offering, and such finder’s fees will be paid in cash. The completion of the offering is subject to acceptance for filing by the TSX Venture Exchange (the “TSX.V”).

Geologix Proposes Name Change And Share Consolidation

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Vancouver, B.C., April 16, 2018 — Geologix Explorations Inc. (TSX-V: GIX) (“Geologix” or the “Company“) announces its intention to change the Company’s name to ValOro Resources Inc. and its ticker symbol to VRO on, and subject to approval of, the TSX-V. Along with the name change, the Company intends to consolidate its common shares (the “Consolidation“) on the basis of one (1) post-Consolidation common share for every ten (10) pre-Consolidation common shares, subject to shareholder and TSX-V approvals.

Highlights on the Second Week of April, 2018. Mining and Exploration News in Mexico

On the picture above,  granodiorite fragments displaying quartz-jarosite-oxidized pyrite stockwork veining in a prospect in Oaxaca, Mexico. Photo by Miguel A Heredia.

By Miguel A Heredia

During the 15th week of the year (April 9th to April 15st, 2018), at least 26 press releases were announced by companies working in Mexico, with seven informing on exploration results, six reporting Q1 2018 results, three announcing financing, three communicating deals and corporate issues, and  two reporting on resources & development. ON MEXICO ISSUES, Mexico beat the gold production record during 2017 and led the global silver production for the eighth consecutive year. CAMIMEX reported that mining companies working in Mexico invested $4,632M USD in the mining sector during 2017. In Sonora, Argonaut provided information about the explosives permit which was suspended temporarily at its La Colorada Mine. In Guerrero, Torex announced that the labor conflict at its El Limon-Guajes Mine Complex is over.  ON EXPLORATION, In Baja California Norte, One World Lithium announced results at its Salar del Diablo Lithium project. In Sonora, SilverCrest reported drilling results from its Las Chispas project, Silver One identified new geophysical targets at its Peñasco Quemado project, and Azure reported metallurgic results on its Oposura project.  In Chihuahua, Mammoth and Kootenay announced drilling results on their Tenoriba and la Cigarra projects respectively. In Zacatecas, Advance Gold announced underground sampling results.  ON MINING, several companies reported Q1 2018 results on its Mexican operations. In Sonora, Alio reported results from its San Francisco mine; in Chihuahua, GoGold reported results on its Parral operations; in Durango, Hecla and Great Panther reported results on their San Sebastian and Topia mines respectively. Great Panther also reported results on its Guanajuato Mine Complex in Guanajuato, Capstone reported results on its Cozamine mine in Zacatecas, and Leagold reported results on its Los Filos Mine in Guerrero. ON FINANCING, Oroco announced its intention to complete a private placement for $750K. Mexican Gold closed a private placement for $1.05M. Alset closed a private placement for $0.99M.  ON RESOURCES AND DEVELOPMENT, In Oaxaca, Gold Resource announced the northwest expansion of its Arista Mine. Mexican Gold reported results from its resource expansion drill program at Las Minas, Veracruz. ON DEALS AND CORPORATE ISSUES, Colibri filed its annual audited financial statements (Pitaya, Sonora).   Marlin announced some directors changes (La Trinidad, Sinaloa).  Alio announced the appointment of its VP Corporate Development (San Francisco mine, Sonora).

ON MEXICO ISSUES

  • Mexico established a new record in gold production during 2017 according to the Gold Focus 2018 report, reaching 3,292 tonnes. Also, Mexico led the global silver production for the eighth consecutive year, producing 196.4M Oz Ag during 2017. CAMIMEX reported an investment of $4,632M USD in the mining sector during 2017 in Mexico.
  • Argonaut Gold Inc., provided and update on the temporary suspension of its explosive permit at La Colorada Mine.
  • Torex Gold Resources, announced that the Union in conflict at its El Limon-Guajes Mine Complex in Guerrero has withdrawn its case before Mexico´s Federal Labour Board. With this fact, the labor conflict can be considered over.

ON EXPLORATION

  • One World Lithium Inc., announced sampling results at its Salar del Diablo Lithium project in Baja California Norte. 59 auger samples and 4 rock-chips samples were collected returning Li values ranging from a low of 4.7 to a high of 196.5 ppm, with an average of 84 ppm Li.
  • SilverCrest Metals Inc., reported drill results on the Babicanora Vein, including Area 51, within its Las Chispas project in Sonora. Significant results are 4m of 22.8 g/t Au and 1,718 g/t Ag, and 4.5m of 8 g/t Au and 912 g/t Ag. To date, a total of 20 holes have intersected the high-grade footprint of the Area 51 zone, with an average grade of 10.4 g/t Au and 944 g/t Ag.
  • Silver One Resource Inc., identified four new geophysical exploration targets at its Peñasco Quemado project in Sonora. The CSAMT identified deep zones of low resistivity suggesting channels for potential mineralizing solutions. These 4 targets expand the exploration potential, and are encompassed by strong to moderate Zn, Pb, Cu, and Ag anomalies.
  • Azure Minerals Limited, announced metallurgy results on its Oposura project in Sonora, with > 85% Zn and > 80% Pb recoveries. Further testwork will be carried out to optimize recovery and concentrate grades.
  • Mammoth Resources Corp., announced results from 2 holes on its Tenoriba project in Chihuahua. The diamond hole drilled at Masuparia area intersected 45.4m of 0.53 g/t Au and the first hole ever drilled at Los Carneritos area intersected 39m of 0.21 g/t Au.
  • Kootenay Silver Inc., announced drill results, 1km away from the current resources at its La Cigarra project in Chihuahua. Significant intersections are 17m of 267 g/t Ag, including 10m of 437 g/t Ag, and 16m of 112 g/t Ag, including 10m of 144 g/t Ag. The results indicate the mineralized structure extends for an additional 1Km of strike to the northwest of the resource area.
  • Advance Gold Corp., announced underground sampling results on its Tabasquena Mine in Zacatecas. The sampling returned grades of up to 362 g/t Ag near surface and two of the deepest samples returned 642 g/t Ag and 656 g/t Ag. A first phase, 500m core drilling program in two holes is underway with the aim of intersecting the sulphide zone of the La Tabasquena and La Nina veins.

ON MINING

  • Alio Gold Inc., reported results on its San Francisco mine in Sonora. On Q1 2018, Alio processed 1.7M tonnes with an average grade of 0.42 g/t Au to produce 17.6K Oz Au
  • GoGold Resources Inc., reported results from its Parral operations in Chihuahua. On Q1 2018, GoGold processed 439K tonnes of tailings material to produce 266K Oz Ag and 1,900 Oz Au.
  • Hecla Mining Company, announced results on its San Sebastian mine in Durango. On Q1 2018, Hecla produced 0.5M Oz Ag and 4,500 Oz Au.
  • Great Panther Silver Limited, reported results on its Mexican operations in Durango and Guanajuato. On Q1 2018, Great Panther milled 17,950 tonnes at its Topia mine in Durango with average grades of 0.74 g/t Au and 348 g/t Ag to produce 244 Oz Au, 186.2K Oz Ag, 433 tonnes of Pb and 533 tonnes of Zn, while in its Guanajuato Mine Complex in Guanajuato milled 78,919 tonnes with average grades of 2.50 g/t Au and 135 g/t Ag to produce 5,586 Oz Au and 304.8K Oz Ag.
  • Capstone Mining Corp., announced results on its Cozamin mine in Zacatecas. On Q1 2018, Capstone milled 212,912 tonnes with average grades of 2.09% Cu, 0.62% Zn, 0.08% Pb, and 45 g/t Ag to produced 4,300 tonnes of Cu, 795 tonnes of Zn, 21 tonnes of Pb, and 250K Oz Ag.
  • Leagold Mining Corporation, reported results on its Los Filos mine in Guerrero. On Q1 2018, Leagold produced 51K Oz Au. The company also announced 650m of advance of the main ramp at its Bermejal underground mine, which is half of the way to reach the central high-grade portion of the deposit.

ON FINANCING

  • Oroco Resource Corp., announced its intention to close a non-brokered private placement for $750K. Net proceeds will be used for exploration expenditures (Santo Tomas, Sinaloa).
  • Mexican Gold Corp., closed a non-brokered private placement for $1.05M. Net proceeds will be used to continue exploration on its Las Minas project in Veracruz.
  • Alset Minerals Corp., closed a private placement for $992.5K. Part of the net proceeds will be used to advance its lithium project in Mexico (La Salada, Zacatecas).

ON RESOURCES AND DEVELOPMENT

  • Gold Resource Corporation, announced the northwest expansion of its Arista Mine in Oaxaca with 12 additional step-out and infill drill holes. Significant interceptions are 2m of 6.7 g/t Au and 864 g/t Ag, 2.08m of 1.98 g/t Au and 1,583 g/t Ag, and 1.55m of 9.36 g/t Au and 75 g/t Ag. These drill holes extend the known mineralization of the Arista vein system along strike to the northwest and both up and down-dip.
  • Mexican Gold Corp., reported results from its resource expansion drill program at Las Minas project, Veracruz, within the El Dorado/Juan Bran, Santa Cruz, and Nopaltepec zones. Significant results are 26m of 1.74 g/t Au and 5 g/t Ag, including 20m of 2.19 g/t Au and 6.1 g/t Ag; 30m of 1.05 g/t Au and 6.5 g/t Ag, including 12m of 1.32 g/t Au and 8.5 g/t Ag; 22m of 1.73 g/t Au and 4.7 g/t Ag; and 12m of 1.07 g/t Au and 1 g/t Ag. The drill program is ongoing and is focused on resource expansion of the three known zones and selective upgrading of the resource category.

ON DEALS AND CORPORATE ISSUES

  • Colibri Resource Corporation, filed its annual audited financial statements for the period ending November 30, 2017 (Pitaya project, Sonora).

Content like what you have just read can be seen at https://gambusinoprospector.com/ and at LinkedIn’s Mexico Mineral Exploration Group.

On the picture below,  granodiorite fragments displaying quartz-jarosite-oxidized pyrite stockwork veining in a prospect in Oaxaca, Mexico. Photo by Miguel A Heredia.

Alio Gold Provides First Quarter 2018 Production From San Francisco With Management and Transaction Updates

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VANCOUVER, B.C., April 11, 2018 (GLOBE NEWSWIRE) — Alio Gold Inc (TSX:ALO) (NYSE AMERICAN:ALO) (“Alio Gold” or the “Company”), announces preliminary production results from its 100% owned San Francisco Mine in Sonora, Mexico for the Company’s first quarter (“Q1”) ended March 31, 2018. The Company expects to release its full Q1 2018 financial and operational results on May 9, 2018 and will host a conference call that same day (details at the end of this release).  The Company is also providing an update on the management team and the proposed business combination with Rye Patch Gold Corp. (“Rye Patch Gold”) (see news release dated March 19, 2018).

Highlights on the First Week of April, 2018. Mining and Exploration News in Mexico

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On the picture above, pervasive kaolinization of volcanic rocks in the vadose zone of an epithermal system in Guanajuato. Geologist Miguel Heredia for scale.

By Jorge Cirett

During the 14th week of the year (April 1st to April 8th, 2018), at least 12 press releases were announced by companies working in Mexico, of which three had information on exploration, one in mining, one in financing, five on resources and development and two in corporate issues. ON MEXICO ISSUES, No relevant news. ON EXPLORATION, In Sonora, Riverside informed on exploration of its Ariel copper project. In Sinaloa, Goldplay completed a geophysical survey at El Habal. In Durango, Southern Silver announced its exploration program for 2018 at Cerro Las Minitas. ON MINING, Torex Gold announced all access to its projects in Guerrero has been restored.  ON FINANCING, Palamina granted options to officers, directors and consultants.  ON RESOURCES AND DEVELOPMENT, Alio Gold released drill results on two more holes on its Ana Paula project in Guerrero. Telson Resources disclosed PEA figures for its Campo Morado project in Guerrero. Evrim announced a maiden resource on its Ermitaño project in Sonora. Americas Silver released drill results from the 120 zone of its Cosalá project in Sinaloa. Bacanora Lithium announced that a recent feasibility study demonstrated good economics for its Sonora project.  ON DEALS AND CORPORATE ISSUES, Evrim announced First Majestic commenced arbitration proceedings on its Ermitaño project in Sonora. Bacanora Lithium announced the termination of a “placing letter” with NextView New Energy Bull HongKong Limited, regarding funding for its Sonora lithium project.

ON MEXICO ISSUES

  • No Relevant News.

ON EXPLORATION

  • Goldplay Exploration Ltd. completed a ground CSMAT (Controlled source audio frequency magnetotellurics) and magnetics survey at its El Habal property in Sinaloa, delineating 15 new drill targets. Goldplay completed a 27-line survey consisting of 100 m line spacing and 409 total stations over the 1.5 km of mineralized known length at El Habal. “Results confirm anomalous zones previously identified by historical drilling results and nearby shallow historical underground workings”. Several resistive geophysical anomalies were identified that correlate with anomalous surface trenching results and structural trends mapped previously.
  • Riverside Resources Inc. identified through mapping altered porphyritic intrusive rocks in the western part of its Ariel porphyry copper project in Sonora. The hydrothermal alteration measures 2.8 km in length by up to 1.9 km in width.
  • Southern Silver Exploration Corp. announced that a 2018 budget totaling US$3 M has been approved by the joint venture partners for exploration work at the Cerro Las Minitas project in Durango. “The program comprises 13,000 metres of drilling in two phases which will target both the systematic resource expansion in the Area of the Cerro containing the existing Mineral Resource Estimate and continued surface sampling and reverse circulation drilling on new discoveries in the recently staked CLM West claim group.”

ON MINING

  • Torex Gold Resources. Reported that negotiations between community leaders have resulted in an end to the illegal blockades of the El Limon-Guajes mine complex, supporting infrastructure and the Media Luna project in Guerrero. “The official government-regulated process for selecting between the two competing unions, continues. Since midMarch, there have been two public hearings at the Federal Labour Board, regarding the timing of a union selection vote. It is Torex’s understanding that the public hearing stage of the process is now complete, and that the next stage is a decision as to when and where the vote will occur. As Torex has said since the beginning, the Company will work with whichever union the workers democratically select.” Cash reserves at the end of Q1 were US$124 million, including US$14 million set aside for reclamation obligations. Also during Q1 a US$9.3 million principal repayment was made to reduce the term loan under the debt facility to US$290.7 million.

ON FINANCING

  • Palamina Corp. granted 950 K stock options to certain officers, directors and consultants of the company under its stock options plan. The options granted at $0.39 per common share expire in five years for officers and directors and in three years for consultants (Santuario, Hidalgo).

ON RESOURCES AND DEVELOPMENT

  • Alio Gold Inc. released drill results for the last two holes at its Ana Paula project in Guerrero. The 3,800 m program targets the complex breccia extension below the proposed open pit. On the first hole a hydrothermal breccia south of the proposed pit returned 0.94 g/t Au over 44.2 m, while the complex breccia below assayed 1.91 g/t Au over 40.90 m. The second hole returned 0.90 g/t Au over 32.4 m on the hydrothermal breccia south of the proposed pit and 2.03 g/t Au over 48.2 m on the complex breccia below. The fourth and fifth holes of the program have been completed and the last hole is in progress.
  • Telson Mining Corp. informed a positive result of a 43-101 compliant independent preliminary economic assessment (PEA) on its Campo Morado project in Guerrero. The current resource contains five mineral volcanogenic massive sulfide zones (G9, El Largo, Naranjo, Reforma and El Rey) containing zinc, copper, silver, gold and lead. The 2017 mineral resource estimate using a 5.5% ZnEq cut-off holds 16.6 M tonnes @ 1.70 g/t Au, 123 g/t Ag, 0.80% Cu, 0.93% Pb, 4.01% Zn (or 8.68% ZnEq) as measured and indicated resources, and 988 K tonnes @ 1.32 g/t Au, 116 g/t Ag, 0.64% Cu, 0.92% Pb, 3.20% Zn (or 7.27% ZnEq)as inferred resources.
  • Evrim Resources Corp. announced a maiden resource was disclosed by its partner First Majestic Silver Corp. on its Ermitaño project in Sonora. The inferred resource was calculated on the Ermitaño West vein, holding 3.36 M tonnes @ 3.99 g/t Au, 68 g/t Ag (or 377 g/t AgEq), containing 432 K Oz Au, 7.38 M Oz Ag.
  • Americas Silver Corp. released results of step-out holes on its Cosalá operations in Sinaloa. Highlighted true width (TW) intervals comprise 4.94 m @ 33 g/t Ag, 7.2 g/t Au, 0.13% Cu; 41.68 m @ 148 g/t Ag, 0.25 g/t Au, 0.32% Cu; 26.24 m @ 181 g/t Ag, 0.11 g/t Au, 0.51% Cu; 12.32 m @ 84 g/t Ag, 0.17 g/t Au, 0.23% Cu. “The zone 120 deposit is characterized by steeply dipping parallel lenses of Ag-Cu-Au skarn mineralization developed in volcanically derived calcareous sediments adjacent to intermediate intrusive dykes and sills. Skarn mineralization is characterized by disseminated chalcopyrite and tetrahedrite….. Mineralization at area 120 has been found over an area greater than 500 meters in length, 300 meters in width and down to a depth of 550 meters. Individual lenses have widths of up to 60 meters.”
  • Bacanora Lithium plc. Informed a recently completed feasibility study (FS) demonstrated economics of US$1.25 billion NPV; 26.1% IRR; and life of mine gross operating costs of US$3,910/t Li2CO3 comparable to those of the low cost brine producers of South America. Design of both the roaster/kiln FEED and the crystalliser/evaporation/IX FEED has commenced. “The current FEED schedule is to have designs, cost estimates and process guarantee scopes completed in Q2 2018 with orders for long lead items being placed at the end of the FEED process. The current ­time table is based on commissioning and lithium carbonate production commencing in Q1 2020” Currently advance is being made on water licenses, natural gas supplies and land surface access.

ON DEALS AND CORPORATE ISSUES

  • Evrim Resources Corp. announced “that First Majestic has initiated arbitration proceedings in connection with its purported exercise of the option pursuant to which First Majestic can earn a 100% interest in the Ermitaño property, subject to the retention by Evrim of a 2% net smelter return royalty interest. It is expected that the arbitration will deal with the requirements under the option agreement for First Majestic to exercise the option and not the relative interests of the parties in the Ermitaño property.” (Ermitaño, Sonora).
  • Bacanora Lithium plc. “As previously announced, the Company entered into a binding placing letter (the “Placing Letter”) with NextView New Energy Bull HongKong Limited (“NextView”) in December 2017 and as announced on 28 February 2018, although the Company had fulfilled all of its obligations in respect of the Placing as of that ­me, NextView failed to forward the Placing proceeds to the Company, leaving it in default under the terms of the Placing Letter. In spite of repeated efforts on the part of the Company requesting that NextView remedy its continuing default, NextView has continued to fail to complete the Placing as contemplated under the Placing Letter. Accordingly, the Company has terminated the Placing Letter and has reserved its rights to pursue any available legal remedies against NextView.”

Content like what you have just read can be seen at https://gambusinoprospector.com/ and at LinkedIn’s Mexico Mineral Exploration Group.

On the picture below, pervasive kaolinization of volcanic rocks in the vadose zone of an epithermal system in Guanajuato. Geologist Miguel Heredia as scale.

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Sonora Project Update

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Bacanora Lithium plc (AIM: BCN), the London listed lithium company, is pleased to provide an update on ativities at its flagship Sonora Lithium Project in Mexico (‘Sonora’ or ‘the Project’). This update is in line with the Company’s objective to commence the construction of a 35,000 tpa lithium carbonate operation at Sonora in H1 2018, targeting first production in Q1 2020. A recently completed Feasibility Study (‘FS’) demonstrated Sonora’s potential to become a leading supplier of high value lithium products to fast-growing industries, such as electric vehicles and energy storage. The FS demonstrated strong economics of US$1.25billion NPV; 26.1% IRR; and life of mine gross operating costs of US$3,910/t Li2CO3 , which are comparable to those of the low cost brine producers of South America.