Gold Fields/Buenaventua JV Reports Major Discovery in Peru

Joint venture partners Gold Fields Ltd. (51%) and Cía de Minas Buenaventura (49%) reported discovery of Canahuire, a major gold-copper-silver deposit, in their Chucapaca project area in southern Peru. The deposit hosts an estimated inferred mineral resource of 5.6 million gold equivalent oz, with mineralization potential beyond the extent of current drilling. As of May 1, 2010, the resource totaled about 83.7 million mt, grading 1.9 g/mt gold, 0.09% copper, and 8.2 g/mt silver.

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Barrick Drilling at Spring Valley

Midway Gold reported in late March that Barrick Gold has begun its 2010 drilling program at Midway’s Spring Valley project in Pershing County, Nevada, where Barrick is working under an earn-in agreement and option to joint venture signed in March 2009. Barrick has budgeted $5 million for its 2010 exploration program at Spring Valley. The program includes both reverse circulation and core drilling and is expected to last through the summer. The focus for this year’s program is continued expansion of the gold resource.

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Meridian Lifts Lennard Shelf Resource Inventory

Meridian Minerals reports that re-examination of historic drill results at the Palijippa prospect on its Lennard Shelf project in the Kimberly region of Western Australia has identified a large inferred mineral resource of 2.62 million mt grading 5.4% zinc, 1.2% lead, and 33.6 g/mt silver above a combined 3% zinc-plus-lead cutoff.

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