LOI To Form JV Manganese Buriturama Mine in Brazil

VANCOUVER, BC – Maxtech Ventures Inc. has signed a Letter of Intent (LOI) to form a joint venture to develop the Buriturama Mine in the State of Bahia, Brazil with Plantiminas Empreendimentos Rurais Ltda.

The Buriturama Mine is located in the northern portion of the State of Bahia, 862 km from Porto de Aratu with access to railroad, port facilities and infrastructure. The intent of the joint venture is to put the asset into commercial production up to 10,000 tonnes per month with focus on the export market.

The project has significant historical mining records as well as a current Gia (trial mining license) which authorizes mining and processing of up to 6,000 metric tonnes of manganese mineralization. Small scale mining has been undertaken on the project and there are manganese outcrops located throughout the project area as well as mining pits. An application has been submitted to Departmento Nacional de Proucao Mineral ("DNPM") for a Lavra license which provides for unlimited mining. The company will do both technical and legal due diligence on the asset prior to signing a definitive agreement.

Approximately 100km’s north of the Buriturama Mine in Bahia is Vale’s Mina do Azul Mine, which is responsible for 80% of Vale’s manganese output. Vale SA is the largest manganese producer in Brazil, accounting for roughly 70% of the country’s market. Mina do Azul is recognized internationally for the excellent quality of its ore, which contains high concentrations of manganese and a high manganese-iron ratio.

Southern Silver Intersections At Cerro Las Minitas

VANCOUVER, BC – Southern Silver Exploration Corp. reported assay results from the Winter 2017 core drilling program on the Cerro Las Minitas project, Durango State, Mexico. Drilling continues to intersect intervals of heavily disseminated to massive sulphide mineralization on the Blind Shoulder zone. These mineralized intercepts remain open laterally and reflects a flattening of the Blind Zone mineralization from a sub-vertical-orientation near surface, to a gently to moderately southwest-dipping horizon below 600m depth. Current drilling has now identified significant intervals of mineralization throughout an approximate 350m x 300m zone within the originally targeted 600m x 400m area. With approximately 4,280 meters now completed of the planned 10,000 meter US$2 million exploration program, further drilling with two core rigs will focus on continuing the systematic expansion of the Blind Shoulder mineralized zone.

Mineralization in drill hole 16CLM-095 is a continuation of earlier reported mineral intercepts in the Blind Shoulder zone and significantly, contains much higher silver grades than earlier drilling in this part of the deposit. Further drilling to delineate this high-grade silver zone is planned for this target area.

The mineralization in drill hole CLM-095 is open both down-dip to the southwest and along strike to the north and northwest and represents a 90 meter step-out from previously reported mineralization in hole 17CLM-091. “Assay results from this recent drilling have returned some of the better silver and base metal grades on the project to date and continues to not only expand the dimension of the Blind Shoulder target but have also yielded further improvement in potential size, quality and scope of the Cerro Las Minitas project," said Lawrence Page, Southern Silver’s President. "Our focus remains to establish this rapidly evolving district into one of the most significant economic polymetallic discoveries in our industry."

Exploration on the company’s flagship Cerro Las Minitas property, Durango Mexico is funded by Electrum Global Holdings L.P., which has financed a broad range of exploration activities and has earned a 60% interest in the project through a US$5.0M earn-in on the property, with Southern Silver acting as operator.

The Cerro Las Minitas project contains an estimated Inferred Resource of 17.5M ozs silver and 237M lbs of lead and 626M lbs zinc (77.3M ozs AgEq) and an estimated Indicated Resource of 10.8M ozs silver, 189M lbs lead and 207M lbs zinc (36.5M ozs AgEq).(1)

A total of 93 drill holes for 37,255 meters have been completed on the Cerro Las Minitas project with exploration expenditures of approximately US$8.6 million spent through to the end of 2016.

Silver Standard Resources And Golden Arrow Form Joint Venture

ARGENTINA – Silver Standard Resources Inc. reported a joint venture for the development of Chinchillas project is going to be created with Golden Arrow Resources Corp. According to the terms of the deal, Silver Standard Resources will contribute to the creation of the new business entity with its Pirquitas property and Golden Arrow Resources with its Chinchillas property. Silver Standard Resources will hold a 75% stake in the joint venture and Golden Arrow a 25% stake. The joint venture will be operated by Silver Standard Resources.

Chinchillas is located in the Argentinian province of Jujuy, not so far from the the Pirquitas mine. The near-surface mineralization provides Chinchillas with the potential to build an open pit mineral deposit; the site is characterized by favorable silver, zinc and lead recoveries. According to the pre-feasibility study at Chinchillas, the annual production of silver equivalent is estimated to be approximately 8.4 million ounces. The mine life is eight years, and the quantity of ore milled per day is 4,000 tonnes. The financial analysis of the pre-feasibility study estimates an aftertax NPV (5%) of $178 million on the base of a price of silver of $19.50 per ounce, a price of lead of 95 cents per pound and a price of zinc of $1.00 per pound. The internal rate of return of the project is 29%, and the project is seen to produce strong operating margins over its entire life of mine at a cash cost per ounce of silver sold of $7.40. The construction is expected by Silver Standard Resources to start sometime in the third quarter of this year, and the mineral will start to be delivered to the Pirquitas mill some time in the second half of 2018.

At Chinchillas, mineral reserves are estimated to be approximately 11.7 million tonnes which contain approximately 58 million ounces of silver grading 154 grams per tonne, approximately 310 million pounds of lead grading 1.20% plus approximately 127 million pounds of zinc grading 0.49%.

Paul Benson, Silver Standard’s president and CEO, said, "Forming the joint venture is an excellent result due to the outstanding cooperation by our partner Golden Arrow, the Argentine government and many within Silver Standard. We believe Chinchillas will extend the life of our Pirquitas operation well into next decade and it enables the joint venture to evaluate the viability of an underground operation at Pirquitas."

Torex Announces High Grade Sub-Sill Resource

TORONTO, ON – Torex Gold Resources Inc. reported a, CIM Definition Standards compliant, mineral resource estimate for its Sub-Sill deposit of 324,000 Inferred gold ounces and 89,000 Indicated gold ounces, at a cut-off grade of 2.5g/t Au. The Inferred resource is contained in 1.33 million tonnes at an average Au grade of 7.58 g/t. The Indicated resource is contained in 353,000 tonnes at an average Au grade of 7.82 g/t. The Sub-Sill deposit is located in close proximity to the Company’s ELG processing plant in Southwest Mexico and remains open in several directions.

Fred Stanford, President and CEO said, "The Sub-Sill provides the potential to offer a material increase in the near-term ounces produced through the ELG processing plant as a result of the high grade and the rapid advance of the planned 600 meter access ramp. The ramp is now less than 170 meters (4 m/d advance rate) from the anticipated contact with the skarn rocks that host the Sub-Sill deposit. Mine planning is underway and the mine design effort will seek to pull production of the highest-grade tonnes to as early in the mine plan as possible. It is worth noting that in the resource estimate there are 147,000 Au ounces in 260,000 Inferred tonnes averaging 17.45 g/t Au, and 45,000 Au ounces in 90,000 Indicated tonnes averaging 15.98 g/t Au." He added, "The Sub-Sill deposit also has the potential to increase in size. It remains open in all directions, including at depth. The deposit, as currently defined, covers an area of approximately 22,000 m2. The prospective area to test for expansions of the deposit covers an area of approximately 1,000,000 m2, with additional potential at depth. In early Q2/17, the next phase of the Sub-Sill exploration diamond drill program will begin. 15,000 meters of drilling are included in the program with an expectation that it will be completed over the following 6 months. One objective of the drill program is increasing the drill density in 1,000,000 of the Inferred tonnes to that required for the potential to upgrade to the Indicated confidence level. The drill program will also test the deeper magnetic target, a patterned step-out drilling of an area of 90,000 m2, and a few distant step-out holes to test the extents of the prospective area. Results from this program will be released as they are received and interpreted."

Blue Sky Drilling At Amarillo Grande Surficial Uranium Project

VANCOUVER, BC – Blue Sky Uranium Corp. reported initial results from the ongoing Phase 1 reverse circulation (RC) drilling program at the Ivana target on the Amarillo Grande uranium project, in Rio Negro Province, Argentina. The results from 31 holes received to date outline a broad area of near surface uranium measuring approximately 1,800 meters by 600 meters. Within this area, a higher-grade northwest oriented corridor is interpreted to have been intersected by four holes and a second area with higher grades is indicated by two holes at the eastern margin of the drill grid. A full geologic interpretation will be completed once results from the remaining 66 holes from the Ivana target are received. Blue Sky holds over 440,000 hectares of property located in two provinces in the most prospective uranium regions of Argentina.

"The initial results from the Ivana area provide important information on where to focus our follow-up drilling as we delineate new zones of surficial uranium mineralization at Amarillo Grande," stated Nikolaos Cacos, Blue Sky President & CEO. "These initial results confirm the broad occurrence of uranium mineralization at Ivana."

The 250,000-hectare Amarillo Grande project includes three areas of known mineralization (Ivana, Anit and Santa Barbara) within a 140 kilometer-long uranium trend discovered by Blue Sky. This 3,000 meter preliminary drill program is designed to delineate the mineralized zones at all three areas, for follow-up infill drilling. The program is testing areas prospective for discovery of near-surface uranium mineralization as identified by ground radiometric surveys, trenching, manually excavated pits and geo-electrical surveys. This program is the first phase of the overall 10,000 meter program which is designed to prepare for potential resource estimation later this year.

Kinross Reports Sale Of Cerro Casale Interest

TORONTO, ON – Kinross Gold Corporation has agreed to sell its 25% interest in the Cerro Casale project in Chile, and its 100% interest in the Quebrada Seca exploration project located adjacent to Cerro Casale, to Goldcorp Inc. Additionally, on closing Kinross will enter into a water supply agreement with the Cerro Casale joint venture. After certain conditions are met, the agreement will provide Kinross with certain rights to access, up to a fixed amount, water not required by the Cerro Casale joint venture. Kinross expects to use this water for its Chilean assets and would be responsible for the incremental capital costs to accommodate the supply of water to the Company along with its pro rata share of operating and maintenance costs.

The sale is expected to be completed in the second quarter of 2017, subject to customary conditions of closing as well as the closing of Goldcorp’s acquisition from Barrick of a 25% interest in the Cerro Casale project.

2.5 km x 3.5 km Geophysical Anomaly at Paciencia North to Be Drilled

TORONTO – Arena Minerals Inc., reported that Teck Resources Chile Limitada (Teck) has informed Arena that it has commenced a further phase of exploration on the Paciencia North project (Paciencia North). Following encouraging results from the June-July 2016 drilling and reconnaissance induced polarization (IP) program in the southern portion of the Paciencia option area, Teck carried out a further 51 km2 of reconnaissance IP and 380 line km of ground magnetics in an area extending to the northern boundary of the license block. This geophysical program led to the identification of a large coherent chargeability anomaly (~ 2.5 x 3.5 km) beneath shallow gravel cover (~20-100m thick) in the northern part of the Paciencia license block. The chargeability anomaly is coincident with an annular zoned magnetic anomaly with a central high and flanking low.

Teck plans to drill test the target with an additional 1,800 meters of reverse circulation (RC) drilling to be completed in December 2016. "The coincident chargeability and magnetic anomaly defined by Teck is a high priority target and we look forward to seeing the initial drill results towards the end of 2016," commented William Randall, President and CEO of Arena. "The target presents classic porphyry geophysical signatures, and being 20 kilometers to the northwest of Spence makes for a truly exciting opportunity."

In late 2015, and prior to the definition of the coincident IP and magnetic anomaly, three shallow, wide-spaced drill holes were completed on the periphery of the geophysical anomaly. These holes intersected sericite-chlorite and secondary biotite alteration. Due to their distant location and shallow depth, these holes are not considered to have tested the target.

Temporarily Halt At Topia Mine To Facilitate Transition To New Tailings Facility

VANCOUVER – Great Panther Silver reported that, further to a review of its Topia Mine operations in Durango, the Company has decided to suspend the operation of the processing facility for approximately three months to facilitate plant upgrades and a transition to a new tailings storage facility (TSF) currently under construction.  Mine operations will continue through the plant shutdown and all ore will be stockpiled and processed in 2017.

"While we are continuing with the geotechnical evaluations and assessments of the remaining capacity at the existing tailings facility, we have made the decision to suspend processing at Topia", stated Robert Archer, President & CEO.  "This will provide the opportunity to safely engage in improvements at the processing plant concurrently with the construction of the new TSF while continuing with mine and resource development.  During the period of the shutdown we will maintain full employment at Topia as mining operations will continue and plant personnel will be employed in the upgrade and maintenance programs, training and other activities."

The new TSF entails a change from wet deposition to dry stack, which best aligns with environmentally sound practices in the industry today.  The project includes the installation of a thickener and filter presses, upgrades to the crushing plant, flotation circuits and ball mills some of which are already in progress.  As preparation and permitting of the Phase II TSF continues, the efforts at the existing TSF will shift to dewatering to improve stability, and to transition toward a program of reclamation and remediation, all of which are in accordance with best closure practices.  Simultaneously, a program of ore control optimization is being implemented throughout the mine to increase grades with the objectives of reducing unit costs and increasing metal production.

Drilling Commences At Ocros Project In Peru

VANCOUVER, BC – Condor Resources reported that written approval for the "Iniciacion de Actividades" has been received from the Peruvian Ministry of Energy and Mines. In anticipation of this approval, Compania Minera Casapalca S.A. had mobilized their drilling contractor to the Ocros project earlier this month.

DDH-001 is located about 100m to the south of the old workings and adits, which run from east to west. DDH-001, with an azimuth of 285° and a dip of -75°, is oriented to closely parallel the old workings.

The objective of the drill program is test the continuity of the mineralization over an approximate area of 1.5 square kilometers centered around the adits of the historic Eldorado mine, where the mineralization has been confirmed by systematic sampling on two levels, and over 325m on each level.

The 19.7 sq km Ocros property is located 180 km NW of Lima at elevations ranging between 2250m and 3550m and on the continental-scale West Fissure fault system, host to the majority of South America’s most significant copper resources

85% interest. The property vendor holds a 1% net smelter returns royalty, and a 15% interest carried to commercial production. Condor has the right to purchase the royalty at any time for US$2,000,000. The property vendor’s interest is fully-carried and non-contributing until the completion of a feasibility study, at which time the property vendor will receive an additional 1 million shares. All costs incurred by Condor on behalf of the property vendor following completion of the feasibility study will be recouped with interest from the property vendor’s 15% share of production proceeds.

The property covers an intensely altered, copper-mineralized target measuring 6 sq km in area, with mineralization presently exposed over a vertical extent of more than 700m. High grade "exotic" copper mineralization, comprising secondary copper-rich chrysocolla cementing gravels at the bedrock-gravel interface is also present, representing a second separate high-grade copper exploration target.

New High Grade Mineralization Within and Outside Amended Pea Pit

VANCOUVER, BC – Almaden Minerals Ltd. reported further assay results from Almaden’s ongoing exploration and development program at the Company’s Tuligtic project, Mexico. Results reported today are from drill holes TU-16-477 to 481 drilled on sections 10+525 and 675 East. All holes intersected significant mineralization and veining inside or immediately outside of the Amended PEA pit. The holes drilled to the north intersected the previously defined subvertical Ixtaca North vein zone as well as the new zones of veining.   

The mineralization confirms the presence of additional important zones of veining immediately adjacent to the Ixtaca Zone and points to the exploration potential of the project in general. The Ixtaca Zone was

discovered in 2010 beneath a large area of largely barren clay alteration which has been confirmed subsequently to represent the upper portions of a gold and silver bearing epithermal vein system. Since the discovery Almaden has focussed its efforts on the development of the Ixtaca Zone, however results clearly show the potential for additional mineralization, not only proximal to the deposit, but more broadly project wide beneath the high level clay alteration.

J.D. Poliquin, chairman of Almaden stated, “The results once again show the presence of the high grade veins on the Tuligtic project. While we are now focussed on developing the Ixtaca deposit into a significant precious metals producer in Mexico, and are currently busy with engineering work and studies towards producing a PFS, this exploration drilling demonstrates additional resource potential both laterally and, because we are at the top of a fully preserved epithermal system, future exploration drilling will also test for feeder veins beneath the Ixtaca sheeted vein zone."