Exploration Briefs

Osisko Mining has reported positive initial results from its greenfields exploration activities in the Guerrero gold belt, Guerrero state, Mexico. Six main anomalies have been identified that are at or near drill stage, and 114 targets remain to be reviewed. The exploration program has covered 11,870 km2 of gold-prospective geology. Geophysics have been completed over 320 km2.

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Midway Gold Reports Barrick Gold Exploration Completed Expenditures Totaling $30 Million

Midway Gold reports that Barrick Gold Exploration Inc. completed expenditures totaling $30 million at Midway’s Spring Valley gold project in Pershing County, Nevada, thereby completing requirements to earn a 60% interest in the project. With four rigs operating on the property, Barrick has budgeted $8 million for infill drilling on the main Spring Valley resource area during 2013, with the objective of upgrading the quality of the resource. An additional $3.08 million is budgeted for development activities, as well as completion of a scoping-level economic evaluation.

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Gold Road Resources Excecutes Binding Exploration Joint Venture

Gold Road Resources, an Australian junior company, has executed a binding exploration joint venture agreement with Sumitomo Metal Mining Oceania, a subsidiary of Sumitomo Metal Mining, over the southern tenements of Gold Road’s Yamarna land holding 140 km east of Laverton, Western Australia. The joint venture covers more than 2,720 km2 of Gold Road’s tenements in the region, which total about 5,000 km2.

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Southern Hemisphere Mining Reports Lundin Mining Earned 20% Interest

Southern Hemisphere Mining, an Australian junior company, reports that Lundin Mining has earned a 20% interest in their Chilean joint venture company, Minera Llahuin SCM, after completing its initial expenditure commitment of $3 million. The Llahuin copper-gold exploration project is located in the Coquimbo region of central Chile, approximately 250 km north of Santiago and 56 km from the Pacific Ocean. Lundin’s spending of $3 million formed part of an initial phase of exploration spending at Llahuin totaling $6 million, jointly provided by Lundin and Southern Hemisphere. Drilling on the project through mid-May totaled 54,000 m.

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