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.

Silver Spruce Resources Acquires Second Project And Provides Pino de Plata Update

BRIDGEWATER, NOVA SCOTIA – Silver Spruce Resources Inc. has signed a binding and exclusive Letter of Intent to purchase and explore a submittal prospect near Chinipas, in far western Chihuahua State, of over 300 hectares, where field crews sampled 8.42 grams per tonne (g/t) Gold (Au), 8.04 g/t Au and 3.95 g/t Au in chip channel samples from mineralized outcrop in late September.

The Company will purchase the concession and will continue to investigate the potential of the surrounding ground for opportunities to stake additional ground that will be included in the "Encino De Oro" (Golden Oak) project land position, if lying within 2 kilometers of the existing claim boundaries. 

"It is remarkable to find a property with high values of gold in outcrop, within short walking distance from a well travelled road, that has no workings or evidence of prior exploration activities," declared Mr. Leonard J. Karr, professional geologist and a third party Qualified Person for Silver Spruce. "The low cost of entry and the good gold grades in outcrop make this a very reasonable acquisition with considerable upside potential," stated Karl J. Boltz, President and CEO. "We can devote the majority of funding to exploration work and look forward to additional assays before Christmas and to mobilizing field crews in January."

The Encino De Oro Property geology consists of upper sequence rhyolitic tuffs that are deposited directly on Mesozoic limestones and calcareous shales. The lower sequence andesite appears to have been mostly removed by erosion and only thin remnants remain.

An initial property examination in late September 2016 confirmed that an outcrop of strongly silicified rhyolite tuff contains gold grades ranging from 3.95 g/t to > 8 g/t in three samples over 3 m in width. Leonard Karr examined this outcrop on November 17, 2016 and based on strength of silicification, quartz veining and iron oxides after pyrite found the values credible. This immediately elevated the Company’s confidence in the vendor’s statements concerning other multigram gold assays in the area, and Silver Spruce immediately began a reconnaissance mapping and sampling program on the property.

Eleven samples were taken in the first preliminary visit to the prospect in late September, and an additional 35 samples were taken during late November, with assays pending.

The Municipality of Chinipas has a rich history in the processing of ores from the adjacent Palmarejo Municipality and mine area since the early 1800’s. In the late 1800’s, European engineers came to Chinipas to build and improve three mills that were devoted to the processing of ore mined at Palmarejo, just east of Chinipas. A narrow gauge railroad was constructed to haul the ore down from the Palmarejo mine to the Chinipas valley, where it was milled using hydraulic power to run the stamp mills. A twelve inch iron waterline paralleled the railroad to bring water down from the mine area under great pressure, and an aqueduct was built from Agua Caliente to Chinipas, over 30 kilometers, to bring additional water to the mills in Chinipas.

The focus of mining activity in the Chinipas region has been primarily concentrated on the processing of ore, although some exploration and production from mines in the municipality has occurred. The region is has seen comparatively less modern exploration activities, as compared with other Mexico mining districts, although it is well mineralized. Silver Spruce recognized the potential of the region and has initiated a regional reconnaissance program to investigate the potential of numerous mineralized workings and submittals from local residents and miners. The Encino De Oro project is now the second project for the Company in the Chinipas region with the potential for a significant precious metals discovery.

Regarding the Pino De Plata, the Company has formalized the Mexico purchase contract and executed a modified purchase contract on the Pino De Plata project whereby the owners have agreed that all property payments to the owners will be delayed until the Company can access the project to finish building the drill roads and pads, in preparation for drilling. The Company anticipates receiving these approvals in due course.

Precipitate Provides Drilling and Exploration Update From Juan de Herrera Project

VANCOUVER, BC – Precipitate Gold Corp. reported an update on exploration and drilling programs underway at its 100% owned Juan de Herrera project in the Dominican Republic. The Ginger Ridge Phase 2 diamond drilling program has suspended for the Christmas holidays and will resume in January 2017. Four holes have been completed (GR16-07 to GR16-10), while the completion of a fifth hole (GR16-11) has been paused until resumption of drilling in the new year. A total of 1,240 meters of core have been drilled to date and more than 1,000 samples have been submitted for laboratory analysis. The Company expects to report analytical results for the initial four holes in January 2017.

Drill holes completed in this opening portion of the drill program have been positioned at step-outs of up to 150 meters from the 2014 discovery hole (Hole 5) aimed at 1. testing the continuity of mineralization along strike to the north and south of Hole 5; and 2. testing discrete induced polarization (IP) chargeability high anomalies identified by recent pre-drilling geophysical surveying.

Core recoveries in the current program have been good, although drill progress has, at times, been slow due to the nature of the material being drilled and the decision by the Company’s on-site technical team to extend some holes beyond their initially anticipated depths. Core observations confirm IP geophysics is proving to be an effective guide in defining zones with elevated sulphide and silica contents.

Based on meterage drilled to date, and the planned depths for holes still to be drilled, management expects to expand the scope and scale of this program beyond the initially planned 2,000 meters in order to sufficiently test the expanded target-anomaly along strike and at depth.

Concurrent with drilling at Ginger Ridge, field crews have continued IP geophysical surveying and detailed geological mapping programs over multiple new geochemical target areas elsewhere within the Juan de Herrera project (see the Company’s news releases dated September 13, 2016 and May 10, 2016). Given the established effectiveness of the IP surveying at Ginger Ridge, surveying at the new zones has the potential to define one or more of these areas as drill-worthy targets at the completion of this phase. Shareholders will be updated on the results of these regional programs and pending drill assay results as they become available.

Positive Geochemical Results And Reconnaissance Field Work Results For Encino De Oro Project

BRIDGEWATER, NS – Silver Spruce Resources Inc. reported the latest results from its ongoing reconnaissance and sampling program at its recently acquired Encino De Oro project near Chinipas, Chihuahua, in Mexico. The field crew was led by Leonard J. Karr, CPG, and a third party Qualified Person for Silver Spruce. To date, a total of 42 chip channel and grab samples have been taken from outcrop, subcrop and float over an area of 3 square kilometers at the Encino De Oro project. Assays of these samples range from a less than detectable to as much as 8 grams per tonne (g/t) gold (Au), and 77 g/t silver (Ag), with anomalous values of copper (Cu), lead (Pb), zinc (Zn), arsenic (As) and antimony (Sb).

The Encino De Oro project contains vein, stockwork and disseminated hosted epithermal gold-silver targets within the upper and lower volcanic sequences.

An initial property examination in October 2016 confirmed that an outcrop of strongly silicified rhyolite tuff contains gold grades of 8 g/t and greater than 5 g/t in two samples covering over 3 m in width. The Company’s field reconnaissance team led by Leonard Karr examined this outcrop in November 2016.

This reconnaissance showed mineralization and argillic alteration to be widespread, covering about 3 km2, and being open on all sides. About 90% of the exposed section consists of rhyolitic tuffs that are weakly to moderately argilllized and locally contain quartz stockwork. Rarely weakly to moderately silicified zones were encountered.

Property Acquisition Expands Pastos Grandes Project

VANCOUVER, BC – Millennial Lithium Corp. reported acquisition of strategic mineral rights and continued favorable drilling progress at its Pastos Grandes project in Salta, Argentina.

Through its Argentine subsidiary, Proyecto Pastos Grandes S.A. (PPG SA), Millennial has secured an additional 300 hectares of core salar mining rights at Pastos Grandes, bringing Millennial’s holdings in the salar to 6,361 hectares. Priority mining rights to the strategic central salar property, Papadopolous XXXII, measuring 300 hectares and contiguous to Millennial’s holdings, were granted by the Provincial mining authorities to Millennial on December 15th. Upon submission and acceptance of an initial environmental report, Millennial will hold the mining license in full and will consolidate this and other recent acquisitions into its exploration and development plans in the heart of Pastos Grandes.

Covering 6,361 hectares, Millennial’s combined holdings of mineral claims, mining rights and mining licenses, make it the largest single property owner in the Pastos Grandes area.

The initial drilling at Pastos Grandes continues to progress as planned with favorable stratigraphy, flow characteristics and brine density. PG-MW-16-01, the first core hole doubling as a monitoring well, was terminated at 350m in an unconsolidated and likely transmissive sand unit. The adjacent production well, PG-PW-16-01, is being completed to a greater depth to determine the brine potential for the lower units. Core hole PG-MW-16-02, at drill site 2, was advanced beyond the initial target of 350m to total depth of 400m due to continuing favorable stratigraphy and is in the process of being sampled at 25m intervals using a packer system. In addition to sampling, the packer system is being employed to determine flow characteristics of the hydrogeologic units.

Iain Scarr, VP of Development and Exploration, states, "We are very encouraged with the drilling and sampling progress to date and expect to provide shareholders with much greater technical information early in the new year."

Millennial also reports its joint venture partner, Southern Lithium Corp. (Southern), has advanced $500,000 (U.S) to a joint exploration account in anticipation of drill testing the Cruz project in the Pocitos salar early in 2017.

Millennial has granted an aggregate of 225,000 stock options to certain consultants of the company. The options have a term of five years and are exercisable at a price of $1.45 per common share. The options are subject to the acceptance of the TSX Venture Exchange.

El Cobre Project Overview and Target Report

VANCOUVER, BC – Almadex Minerals Limited has received partial results (to 502.00 meters depth) from hole EC-16-16, drilled from the same pad as the previously announced holes EC-16-10, 12 and 13, but at an azimuth of 200 degrees and a dip of -55. Hole EC-16-16 intersected significant mineralization from the collar, similar to that announced previously in the Norte Zone. Hole EC-16-14 was also collared from this pad but was drilled to the north at an azimuth of 0 degrees and a dip of -80 degrees. This hole, like the previously announced hole EC-16-013, intersected considerably less stockwork veining and corresponding mineralization. Together these two new holes reported today further support the interpretation that the Norte drilling to date has intersected shallow dipping to flat lying mineralization with significant gold values, that represents a distal and high level portion of a porphyry system. The current data suggests that the mineralization trends to the south towards the undrilled high chargeability and magnetics target known as Villa Rica. Extending from the Norte Zone to the Villa Rica zone there is a roughly 2.5 kilometer long by 1 kilometer wide zone of high chargeability, high magnetics and high copper, gold and molybdenum in soil that has never been drill tested.

J. Duane Poliquin, Chairman of Almaden commented, "Since the announcement of hole EC-16-10 which discovered high grades beneath previously identified porphyry mineralization, our drill program has been focused on identifying controls on mineralization and a vector to a porphyry core. Now a picture is developing from the data received to date. It has been a very eventful year for Almadex and we are now looking forward to carrying out a systematic drill campaign to follow-up these results to the south of the Norte zone and elsewhere on the project in 2017."

The Norte Zone is located at the north end of a large area (roughly 5 by 4 kilometer in size) of intense hydrothermal alteration, high magnetics and chargeability geophysical responses as well as a broad zone of anomalous gold, copper and molybdenum in soils. The mineralization in the Norte Zone encountered to date is interpreted to be lithologically controlled and hosted by country rocks distal to the core of a porphyry system which management believes is yet to have been intersected. Geophysical sections highlight that the intersections are in a high level feature connected to a large coincident Induced Polarization "IP" chargeability and magnetic susceptibility high at depth.

The 2016 drill program was designed to provide geochemical and alteration vectors for future drilling while following up significant results from historic drilling. The Norte Zone holes to date have been successful in defining the potential of the El Cobre project to host a large porphyry copper-gold deposit. At the same time it is clear that the intersections of porphyry mineralization encountered in past drilling, which has been the focus of the 2016 drilling to date, are peripheral to a possible porphyry centre. In the past, the Company has conducted several campaigns of geophysical surveys including airborne magnetics, shallow IP and 35.8 line kilometers of deep Titan-24 IP. The shallow IP survey has highlighted a large area of high chargeability interpreted to represent sulphides which coalesces into a deep IP chargeability feature which has never been tested. Several plan maps and a section are appended to this news release which show the magnetics and IP chargeability responses in relation to the Norte Zone drilling.

The El Cobre Project has a total area of 7,456 hectares and is located adjacent to the Gulf of Mexico, about 75 kilometers northwest of the major port city of Veracruz, Mexico and has uniquely excellent infrastructure. The project area is situated below 200 meters above sea level with extensive road access and is located less than 10 kilometers from a power plant, highway, gas line and other major infrastructure. Major power lines cross the property area. Almadex has its full drill permits from SEMARNAT and has land access agreements in place. The land ownership is private over most of the project area, has previously been cleared and is used for local agricultural purposes.

Final Feasibility Study For Toroparu Mine Extended

DENVER, CO – Sandspring Resources Ltd. has amended its precious metals purchase agreement (the "PMPA") with Silver Wheaton Corp. to extend the due date of a final feasibility study for the Company’s Toroparu Mine in Guyana S.A. (the "Toroparu Project") from December 31, 2016 to December 31, 2017.

Under the PMPA, Silver Wheaton has committed a total of US$153.5 Million of which USD$15.5 Million has been advanced to Sandspring. Payment of the balance of the US$153.5 Million is subject to Silver Wheaton’s election to proceed and is payable in installments during construction of the Toroparu Project once all necessary mining licenses have been obtained and conditions pertaining to final feasibility, the availability of project capital finance, the granting of security to Silver Wheaton and other customary conditions are satisfied.

Rich Munson, CEO, stated: "We began discussions with Silver Wheaton regarding an extension of the due date for the final feasibility study in light of the drill results received to date at Sona Hill (see the Press Releases dated February 13, 2016 and November 3, 2016). The drill results indicate the potential that higher grade, shallow gold‐only mineralization from Sona Hill could alter the mine plan that formed the basis of our work on the final feasibility study in 2014. The extension allows Sandspring to complete the 2016 drill program at Sona Hill, analyze the data and, based on those results, decide whether to revise the mine and processing plan for the Toroparu Project."

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."