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Highlights on the First Week of April, 2017. Mineral Exploration in Mexico

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During the 14th week of the year (April 3rd to April 9th, 2017), at least 23 press releases were announced by companies working in Mexico. ON MEXICO ISSUES, Sonora congressmen presented a proposal to reinstate the deductibility of exploration expenses, a move highly needed by the country to recover some ground in the investment favorability ranking.  ON EXPLORATION, Source Exploration continues drilling in Durango, Galore Resources has a new model for its Durango project, and is working on defining targets by mapping and sampling, and Canasil presented drilling results from its project in Durango/Zacatecas. ON MINING, Coeur Mining, US Antimony, Marlin Gold and Timmins Gold presented operating and/or financial results for Q1 2017. ON FINANCING, Marlin Gold continues to pay its debt in advance, Geologix intends to raise up to $3 M, Alamos Gold has paid a substantial amount and is now debt free, and Wealth Minerals closed its financing, having raised $4.89 M. ON RESOURCES AND DEVELOPMENT, Kootenay Silver presented drilling results from its project in Sonora, Marlin Gold presented drilling results from the bottom of the pit in its Sinaloa operations, Endeavour Silver updated resource figures in Jalisco, Almaden presented PFS results from its project in Puebla and Levon is planing a drill program seeking to define a sweeter core for its project in Chihuahua.  ON DEALS AND CORPORATE ISSUES, Plata Latina confirms the optioning of its property in Guanajuato, Colibri reaches a definitive agreement on the acquisition of Canadian Gold, Fortuna Silver provides an update on its ongoing  regulatory process, Alset Energy changes name to Alset Minerals and Leagold completes the acquisition of the Los Filos project from Goldcorp in Guerrero.

ON MEXICO ISSUES

  • Congressmen from Sonora presented a proposal to reinstate the deductibility of exploration expenses, aiming to restore the deteriorated attractiveness index for mining investment in Mexico. The governor of Sonora, C. Pavlovich supports the move that can foster new projects, raise production and generate more resources for the Mining Fund to benefit the inhabitants of mining zones in the country. The congressmen are Susana Corella, Sylvana Beltrones, Abel Murrieta, Prospero Ibarra and Ulises Cristopulos, all five from the PRI.

ON EXPLORATION

  • Source Exploration Corp. has completed to date 2,290 m of drilling (out of a 2,800 m program) in 17 holes at its Las Minas project in Veracruz, with samples for nine holes having been sent for assay. “The program consists of infill/extension as well as step-out drilling to expand the mineralized footprint of the El Dorado/Juan Bran zone.” This zone is 420 m long and 650 m down dip, and from 8 to 60 m in thickness in drill intercepts. An initial mineral resources estimate for the mineralized zone is planned for the second quarter of the year.
  • Galore Resources Inc. is nearing the completion of a geological mapping and sampling program on the San Jose and Los Gemelos claims, part of its Dos Santos project in Zacatecas. A new exploration model is developing, with a number of drill holes being planned to test new exploration targets. An estimated 3,500 m drill program is envisaged beginning on the San Jose claim.
  • Canasil Resources Inc. presented drilling results for two holes from its La Esperanza project in Durango and Zacatecas. One hole intercepted 4.92 m (True Width, or TW) @ 257 g/t Ag, 0.64% Zn, 0.63% Pb; while the other intersected 2.02 m @ 89 g/t Ag, 1.8% Zn, 1.0% Pb; and 1.71 m @ 225 g/t Ag, 1.3% Zn, 0.6% Pb; and 5.81 m @ 204 g/t Ag, 1.8% Zn, 1.5% Pb. The first hole is a 60 m step-out to the southeast, extending the length of La Esperanza vein to 400 m, while the second hole intercepted several mineralized intervals within a 32 m wide structure. The bladed calcite textures encountered suggest the upper parts of an epithermal system.

ON MINING

  • Coeur Mining Inc. announced first quarter 2017 production results, including figures from its operations at Palmarejo, Chihuahua, where 360.4 K tonnes of ore were milled at a grade of 150.5 g/t Ag, 2.80 g/t Au, to produce 1.53 M Oz Ag, 30,792 Oz Au. Metal recoveries were 86.5% and 93.7% respectively.
  • United States Antimony Corp. presented production figures for the first quarter of 2017, including from its operations in Mexico. At Soyatal, in Queretaro, and Wadley in San Luis Potosi, 200 K Lb of contained antimony were produced and sent to the Madero smelter, where 132,092 Lb were processed and shipped to the US as finished metal. The antimony price has recently increased from $3.33 to $3.97 per Sb pound.
  • Marlin Gold Mining Ltd. provided and operational update for the first quarter of 2017 on its La Trinidad mine in Sinaloa, with 355 K tonnes of ore @ 1.74 g/t Au, bearing 19,844 Oz of Au, being crushed and staked on the heaps.
  • Timmins Gold Corp. reported Q1 2017 production of 26,048 Oz Au, 11,899 Oz Ag at its San Francisco mine in Sonora. 1.96 M tonnes of ore were processed @ 0.48 g/t Au, and 3.27 M tonnes of waste moved, for a strip ratio of 1.67. Ore came from three pits: San Francisco Main, La Chicharra and Las Barajitas. As the San Francisco pit undergoes more stripping, ore from the last two pits will supply the operations during the second and third quarters.

ON FINANCING

  • Marlin Gold Mining Ltd. repaid a further US$2.0 M of principal from its unsecured facility to affiliates of Wexford Capital LP, Marlin’s controlling shareholder.  Total outstanding principal of the Facility now stands at US$30.0 million, down from US$37.5 million at year end 2016. Cash and refined gold stands at approximately $6.7 M, with a payable balance of $4.2 M (La Trinidad, Sinaloa).
  • Geologix Explorations Inc. is to offer shares and warrants of the company, seeking to raise up to $3 M on a private placement (Tepal, Michoacan).
  • Alamos Gold Inc. “has completed the redemption of its outstanding US$315 million 7.75% Senior Secured Second Lien Notes (the “Notes”) due in 2020. This will result in annual interest savings of US$24.4 million. The Notes were redeemed at a price of 103.875% of the principal amount plus accrued interest to the date of redemption. The Notes were retired with net proceeds of US$239 million from the equity financing completed in February 2017 along with existing cash”. The company is again debt-free (Mulatos, Sonora).
  • Wealth Minerals Ltd. closed the previously announced non-brokered private placement, for gross proceeds of $4.89 M (Coronado, Chihuahua)

ON RESOURCES AND DEVELOPMENT

  • Kootenay Silver Inc. reported high-grade drilling results from 6 remaining holes of the 2016 drill program at its La Negra property in Sonora, operated by partner Pan American Silver Corp. Four of the six holes were drilled on La Negra breccia, which is 600 m long and still open at depth, while the other two were testing another target. The next intercepts are from the drill holes at the La Negra breccia: 47.1 m @ 121 g/t Ag, 0.11 g/t Au, 0.26% Pb (including 13 m @ 216 g/t Ag, 0.18 g/t Au, 0.14% Pb); 40.85 m @ 194 g/t Ag, 0.06 g/t Au, 0.4% Pb (including 11.65 m @ 441 g/t Ag, 0.08 g/t Au, 1.0% Pb); 25 m @ 98 g/t Ag, 0.04 g/t Au, 0.17% Pb. The two drill holes testing the other target returned no significant results.
  • Marlin Gold Mining Ltd. disclosed drill results from the bottom of the pit at its La Trinidad mine in Sinaloa, following up high-grade blast-hole assays, and to investigate to depth the high grade HS zone. Results include: 6.5 m @ 2.59 g/t Au; 9.4 m @ 3.27 g/t Au; 10.2 m @ 2.68 g/t Au; 17.9 m @ 0.99 g/t Au; 17.7 m @ 1.21 g/t Au; 20.0 m @ 2.33 g/t Au; 7.0 m @ 3.45 g/t Au; 6.0 m @ 3.55 g/t Au.
  • Endeavour Silver Corp. reported an updated NI43-101 mineral reserve and resource estimate for its Terronera mine project in Jalisco. Reserves stand at 4.061 M tonnes @ 207 g/t Ag, 1.95 g/t Au, for 27 M Oz Ag, 255 K Oz Au. Indicated resources are 3.959 M tonnes @ 232 g/t Ag, 2.18 g/t Au, for 29.5 M Oz Ag, 277 K Oz Au, and Inferred resources stand at 0.72 M tonnes @ 309 g/t Ag, 1.48 g/t Au, for 7.1 M Oz Ag, 34 K Oz Au.
  • Almaden Minerals Ltd. reported results of the pre-feasibility study (PFS) for its Ixtaca deposit in Puebla. The report states an after-tax NPV(5%) of $310 M at IRR of 41%, an initial capital of $117 M and two years for payback. With the production of 88,780 Oz Au and 5.5 M Oz Ag during the first 9 years at cash cost $706 and AISC of $862 per gold equivalent ounce, and a total production of 1.04 M Oz Au, 70.9 M Oz Ag. The measured resource holds 42.45 M tonnes @ 0.57 g/t Au, 35.7 g/t Ag, the Indicated resource contains 83.37 M tonnes @ 0.45 g/t Au, 22.5 g/t Ag and Inferred resources stand at 47 M tonnes @ 0.3 g/t Au, 19.1 g/t Ag.
  • Levon Resources Ltd. is planning a drilling program on its Cordero project in Chihuahua. The plan envisages 5,000 m in 28 core holes, in close spaced infill drilling within the Felsic Dome portion of the resource defined in 2014.

ON DEALS AND CORPORATE ISSUES

  • Plata Latina Minerals Corp. has received approval from its shareholders and the TSX Venture Exchange on its option agreement with Metalurgica Reyna, S.A. de C.V. (Fresnillo PLC) regarding its Naranjillo property in Guanajuato. During a 36 month period Fresnillo is to pay US 1.45 M in installments (US$0.2 M already paid), invest US$3 M in the property, and further US$0.5 M and a 3% royalty to keep the property.
  • Colibri Resources Corp. “reached a definitive agreement with Ontop Capital Limited (the “Vendor”) regarding the acquisition of Canadian Gold Resources Ltd. (“CGR”) from the Vendor….” Colibri has agreed to issue 24.2 M shares at a price of $0.165 per share to the Vendor for an aggregate acquisition cost of $4.0 M (Pilar Gold project, Sonora?).
  • Fortuna Silver Mines Inc. provided an update on the ongoing regulatory review of the Company’s 2015 annual filings by the United States Securities and Exchange Commission (SEC), and announced a management cease trade order (MCTO) by the British Columbia Securities Commission and other Canadian provincial securities regulatory authorities. Fortuna is delayed in filing its annual audited financial statements and related MD&A for the years 2015 and 2016. The Company expects to be in a position to complete the SEC filing by May 5, 2017.
  • Alset Energy Corp. is changing its name to Alset Minerals Corp., while keeping its current stock symbol (TSXV: ION).
  • Leagold Mining Corp. has completed the acquisition of the Los Filos Gold mine in Guerrero, for US$350 M from Goldcorp Inc. Leagold has completed a C$179 million equity financing (US$133 million), US$50 million equity private placement, and US$150 million senior secured term loan. Post-closing, Leagold estimates its cash balance to be approximately US$76 million. Goldcorp shares in Leagold amount to 25.3%, and will be reduced to 22.9% once regulatory approvals come through.

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, a hydrothermal breccia in a coarse grained felsic intrusive rock, with monomictic rounded fragments suspended in a dark sulfide-carrying siliceous matrix, located in southern Chiapas. Photo by Jorge Cirett.

Coatan 100 Polarization

Highlights on the Fourth Week of December, 2016. Mineral Exploration in Mexico

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The year 2016 has ended, a year that began in the doldrums for metals and started to see the hints of a reactivation around February-March, with prices that kept creeping up well until the third quarter; As the months went by metals price’s kept adjusting upwards, a whiff of fresh air for an ailing exploration industry; For the first time in several years, exploration budgets for some companies in Mexico were revised upwards at mid-year, instead of downwards, and drill rigs were busy churning. On the final quarter metal prices saw corrections, but at the end of the period these prices were substantially higher than in January. Also on the fourth quarter was created in Mexico the Mining Sub-Secretariat (Subsecretaría de Minería), aiming to have a head with a better position to interact with the higher bureaucracy and push for needed reforms to speed up the now crippled and grossly underperforming Dirección General de Regulación Minera.

As the year came to an end, field activities were curtailed and office duties slackened pace in the mining industry, especially on the exploration side, where most field work and drilling is halted for the last two weeks, until the New Year. During the fourth week of December at least five press releases were announced by companies working in Mexico. ON EXPLORATION, one company presented an overview of its operations in Sonora and Durango, which includes getting back full ownership of a project with inferred resources, drilling two projects and doing field work on a third one, as well as the staking of another. ON FINANCING, one company increased its stake in a junior enterprise, and one other declared monthly dividends, as it has done since 2010. ON DEALS AND CORPORATE ISSUES, a company in the NYSE received notice of non-compliance on one of the Exchange rules.

ON EXPLORATION

  • Riverside Resources Inc. provided an overview of key outcomes on 2016. At Thor in Sonora, a two-phase exploration program was completed with partner Antofagasta, drilling 1,200 m (assays pending). Drilled its Tajitos project in Sonora, with 6 g/t Au intercepts. Exploration at Glor in Sonora, funded by partner Centerra Gold, includes soil geochemistry, a ground magnetic survey, rock chip sampling and trenching. Signed an option agreement with Silver Viper Minerals Corp. to advance the Clemente project In Sonora. Staked the Ariel copper project in Sonora and re-acquired 100% interest on its Peñoles project in Durango, which has about ~10,000 m of drilling and a NI-43-101 inferred resource estimate. The company ends the year with about the same cash position (~US$3.5 M) and same share count (<37.5 M outstanding) than at the start of the year.

ON FINANCING

  • Pan American Silver Corp. acquired an additional 10 M shares of Maverix Metals Inc. for US$5.46 M. Pan American now holds 43% of the issued and outstanding shares of Maverix on a fully-diluted basis (Dolores, Chihuahua; La Colorada, Zacatecas).
  • Gold Resource Corp. declared its monthly dividend for December 2016. The company has returned $109 M to shareholders since commercial production started on July 2010 (El Aguila, Oaxaca).

ON DEALS AND CORPORATE ISSUES

  • Primero Mining Corp. received formal notification from the New York Stock Exchange (NYSE) of its non-compliance on its minimum trading price listing standard. Primero has formally replied to the NYSE notification with the Company’s intention to restore compliance to the minimum share price criteria within the prescribed time frame (San Dimas, Durango).

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, Pyrite bearing marble in a quarry at La Rumorosa, Baja California.

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Highlights on the First Week of December, 2016. Mineral Exploration in Mexico

/ Gambusino Prospector / Leave a comment

During the first week of December at least twenty press releases were announced by companies working in Mexico, including two third quarter reports. ON MEXICO ISSUES, China is already the third biggest foreign player in Mexico. ON EXPLORATION, a PFS was completed on a property in Durango, while in Chihuahua a drilling campaign continues and another one is on the planning stage. In Sonora results from a drilling campaign on a gold property were released, as were surface rock chip results from one Li property. In Hidalgo a property was staked, showing interesting initial rock chip sample results, whereas in San Luis Potosi and Zacatecas assay results were released for a Li property.  ON MINING, construction of a heap leach processing plant has begun in a project in Sonora, while in Sinaloa the high grade output was increased in one property, and development work continues in another one. In Queretaro a flotation mill continues with production tests. ON FINANCING, A C$10 M bought deal financing was completed by a company. ON RESOURCES, a technical report with a maiden resource was filed at SEDAR, and a PFS was completed on another, both from properties in Durango. ON DEALS AND CORPORATE ISSUES, the saga for the control of a property in Sinaloa continues, a property was optioned and one more sold, both in Sonora. A company is applying to be listed in USA and a second payment has been made on the option to earn interest on a tailings property in Durango.

ON MEXICO ISSUES

  • Mexico sets its eyes in China for investment in mineral resources. China is already the third most active foreign player in the Mexican mining sector, according to Mario Cantu, General Coordinator of Mining at the Ministry of Economy. The Ministry of Economy is currently setting up a taskforce in a bid to streamline the process of permit approvals that clarify the requirements for purchasing and renting mining concessions.

ON EXPLORATION

  • Telson Resources Inc. announced the completion of a pre-feasibility study (PFS) on its Tahuehueto property in Durango. The report states a proven mineral reserve of 3.3 M tonnes @ 3.4 g/t Au, 41 g/t Ag, 0.31% Cu, 1.1% Pb and 2.0% Zn, to be mined mainly by underground cut and fill method at a 790 tpd rate, with a mine life of 21 years. The reserves contain 356 K Oz Au, 4.38 M Oz Ag, 25 M Lbs Cu, 85.7 M Lbs Pb, and 161.3 M Lbs Zn.
  • Levon Resources Ltd. intends to proceed next year with a drilling program on its Cordero project in Chihuahua, once the silver price moves up in a “sustained and positive way.” The program will target the center of the pit resource, in a claim acquired after the resource was delineated.
  • Alix Resources Corp. reported more lithium-rich clay layers identified at its Electra project in Sonora. Assays from 31 samples returned 10 samples over 1,000 ppm Li. Clay layers are traced for approximately 4.5 km, over a surface up to 800 m in width.
  • Kootenay Silver Inc. continues the drilling campaign on its La Cigarra project, in Chihuahua. Samples from six more holes have been sent for assaying, and drilling is now continuing on the La Soledad structure, where a breccia zone can attain eight meters in width.
  • Prospero Silver Corp. staked a 4,690 ha mining concession in a high level epithermal vein system 85 km NW from Pachuca, in Hidalgo. The La Florida vein system is over 3.5 km long, with eight out of 22 samples returning 0.1 – 0.5 g/t Au and 1.4 – 11.1 g/t Ag, up to 525 ppm As, up to 6 ppm Hg and up to 6,860 ppm Sb. An additional structure, at least one kilometer long, returned on the only two samples 0.6, 0.61 g/t Au; 2, 2, g/t Ag; 1,595, 1,945 ppm As; and 1.7, 2.1 ppm Hg.
  • Alset Energy Corp. released assay results for 30 samples collected by the previous owner of the company, for three of the salars: La Salada, Santa Clara and Caligüey. The results run from 340 to 1,680 ppm Li, a bit lower than the previous assay results of 411 to 2,590 ppm Li. Potassium values range from 1.57% to 4.78%. Studies on x-ray diffraction show none to very small amounts of smectite, which points to Li not being inside the clay structure and an easier extraction.
  • Millrock Resources Inc. completed a ten hole 1,990 m drilling program at Los Chinos project in Sonora. The property is under a JV with Centerra, where the company can earn a 70% interest by funding US$5 M. Three target areas were tested; El Camino, La Tinaja and Pitalla zones. The best intersections were 4 m @ 0.69 g/t Au and 6.3 m @ 0.18 g/t Au.

ON MINING

  • Corex Gold Corp. has begun construction of its heap-leach Santana project in Sonora. The initial step involves forming two heaps, one with jaw-crushed material and the other with fine crushed, to test metallurgical recoveries.
  • Marlin Gold Mining Ltd. crushed 127.5 K tonnes of ore @ 5.26 g/t Au during November at its La Trinidad mine in Sinaloa. During the same period 21,567 Oz Au were stacked on the heaps, and 279 Oz Au recovered daily. Cash cost is estimated to be below $400 per gold ounce for the month.
  • United States Antimony Corp. continues production testing with an alkaline leach plant in Guanajuato, to process material from its Los Juarez mine in Queretaro. The two options under consideration are to use the flotation mill and the alkaline leach circuit, or to use the flotation mill, alkaline leach circuit, and the cyanide leach plant for the mill tailings. To date tests have shown recoveries of 50%, 70% and 70% for Au, Ag and Sb respectively under the first option, and 90%, 90% and 70% for Au, Ag and Sb respectively under the second option.
  • Americas Silver Corp. continues with the primary ramp development at its San Rafael project in Sinaloa, which is expected to reach commercial production in Q3 2017. The ramp is now 25 % complete, the electrical substation has been energized and water storage facilities have been constructed.
  • DynaResource Inc. processed 5,075 tons of feed material @ 11.38 g/t Au grade at its pilot mill in its San Jose de Gracia property in Sinaloa. The pilot mill facility averaged 182 tpd output.

ON FINANCING

  • SilverCrest Metals Inc. completed a CA$10 M bought deal financing (Las Chispas, Sonora).

ON RESOURCES

  • Orex Minerals Inc. filed on SEDAR a technical report for the first inferred resource estimate of the Sandra Escobar project in Durango. Utilizing 59 drill holes and a 45 g/t Ag cut-off base case, the inferred resource estimate yielded 9.8 M tonnes @ 106 g/t Ag, for a total of 33.3 M Oz Ag.
  • Telson Resources Inc. announced the completion of a pre-feasibility study (PFS) on its Tahuehueto property in Durango. The reserves contain 356 K Oz Au, 4.38 M Oz Ag, 25 M Lbs Cu, 85.7 M Lbs Pb, and 161.3 M Lbs Zn. The total resource (inclusive of mineral reserves) includes 6.1 M tonnes @ 2.1 g/t Au, 48 g/t Ag, 0.375 Cu, 1.36% Pb, 2.25% Zn on the measured and indicated categories, and 3.5 M tonnes @ 1.5 g/t Au, 41.6 g/t Ag, 0.32% Cu, 1.33% Pb, 2.21% Zn on the inferred category, for total contained metal amounts of 634 K Oz Au, 12.6 M Oz Ag, 61.8 M Lb Cu, 265.3 M Lb Pb and 483.9 M Lb Zn.

ON DEALS AND CORPORATE ISSUES

  • Dyna Resource de Mexico S.A. de C.V. has seized assets of Goldgroup Resources Inc. as part of a US$48 M damages award. A lien was approved upon stock certificates in the name of Goldgroup Resources Inc.
  • Riverside Resources Inc. signed an option agreement with Silver Viper Minerals Corp. on its Clemente project in Sonora. Silver Viper can earn a 100% on the project by staged payments on five years to sum $750 K, delivering 2 M shares and investing $4 M during the life of the option, Riverside will retain a 2% NSR, same that can be bought for $4 M.
  • Americas Silver Corp. has initiated the process to become listed on the NYSE MKT, and is to undergo a voting for a needed share consolidation in the procedure.
  • Santacruz Silver Mining Ltd. has entered into an agreement with a private Mexican company based in Hermosillo (the “Hermosillo Group”) to sell 100% of its interest in the San Felipe project in Sonora. The deal involves a cash consideration of US$15 M, in three installments, with the final one on February 15, 2017.
  • MX Gold Corp. has paid the second installment of $750 K in its agreement to gain 50% interest on the Magistral del Oro tailings project in Durango. Two more $750 K payments are to be made before January 19, 2017, to earn that 50% interest. The tailings have an historical (non 43-101 compliant) estimate of 1.25 M tonnes @ 2.06 g/t Au.

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, flow banding on a rhyodacitic dome, Zacatecas Altiplano. The flow bands are a few millimeters thick.

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DynaResource de Mexico S.A. de C.V. Seizes Assets of Goldgroup Resources Inc. as Partial Recovery of $ 48 M USD Damages Award

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http://www.marketwired.com/press-release/dynaresource-de-mexico-sa-de-cv-seizes-assets-goldgroup-resources-inc-as-partial-recovery-otcqb-dynr-2180581.htm

MAZATLAN, MEXICO–(Marketwired – Dec 5, 2016) – DynaResource de México SA de C.V. (“DynaMéxico”), the 100% owner of the San Jose de Gracia High Grade Gold Project, located in the County of Mazatlán, Sinaloa México (“SJG”, and the “SJG Project”), announces that on October 5, 2016, the Thirty-Sixth Civil Court of the Superior Court of Justice of the Federal District of México (Tribunal Superior de Justicia del Distrito Federal) approved a Lien (referred to by the court as an “Embargo”), in favor of DynaMéxico, upon Stock Certificates in the name of Goldgroup Resources Inc. (“Goldgroup”). The Stock Certificates subject to the lien (“Embargo“) constitute Shares of DynaMéxico (the “Oct. 5, 2016 Lien against “the Goldgroup DynaMéxico Shares”).

The Goldgroup DynaMéxico Shares were seized as a partial recovery of assets by DynaMéxico after DynaMéxico was awarded more than $ 48 M USD (Forty-Eight Million Dollars) in damages against Goldgroup (the “Damages against Goldgroup”) on October 05, 2015, as described in a Sentencia Definitiva (the “Definitive Sentence”) issued by the same court, the Thirty Sixth Civil Court of the Superior Court of Justice of the Federal District of México, File number 1120/2014. In addition to the Damages against Goldgroup, the Definitive Sentence also included additional Resolutions ordered in favor of DynaMéxico (the Damages against Goldgroup and the additional Resolutions are together referred to as the “Oct. 5, 2015 Resolution”).

Excellon Announces Resolution of Action with Ejido La Sierrita

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http://www.excellonresources.com/index.php/investors/news/2016/188-excellon-announces-resolution-of-action-with-ejido-la-sierrita

Toronto, Ontario – November 16, 2016 – Excellon Resources Inc. (TSX:EXN; OTC:EXLLF) (“Excellon” or the “Company”), Mexico’s highest grade silver producer, is pleased to report the delivery of a resolution (the “Resolution”) by the Tribunal Unitario Agrario del Distrito Sexto in Torreón, Coahuila (the “Agrarian Tribunal”) on the Company’s agrarian legal suit against the Ejido La Sierrita (the “Ejido”) in respect of a surface rights agreement (the “SRA”) on 1,100 hectares of mountainous and non-arable surface rights west of the Platosa Mine.