China Central Bank Absorbing Substantial Amounts of Gold Without Disrupting Market

December 28, 2010

LONDON – Is China increasing its gold reserves but without reporting it, yet again?  Or is this pure market speculation?  The odds would favour the former, but the markets just won’t know until the Chinese announce the fact at a point in time of their choice.  Such an announcement is politically very sensitive, and if several hundred tonnes of gold have indeed quietly and surreptitiously been moved into the Asian giant’s coffers, which this writer feels is more likely than not, then news of this could have a very sharp upwards price impact for the precious metal.

It will be remembered that China’s official reserve figure is 1,054 tonnes – an announced increase of over 75%, supposedly achieved over a three-year period to 2009.  But there’s no particular reason to even believe this figure.  Chinese official gold reserves are at whatever level the government is prepared to announce.  Even if its official gold holdings are indeed 1,054 tonnes there could be, and probably is, a substantial amount of additional gold in some secondary account which China doesn’t feel the need to repor – at least not yet.

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Avanti Announces Strategic Alliance and Private Placements for $15 Million

December 22, 2010

Avanti Mining (OTC Other: AVNMF; TSX-V: AVT) intends to form a strategic alliance with SeAH Holdings Corp., the largest specialty steel producer in Korea.  The alliance will include two components as follows: (i) a private placement of $11 million at $0.252 per share, funds from which will be used for design engineering, environmental assessment, and permitting of the Company’s Kitsault Mine and (ii) allowing SeAH to acquire up to a 30% partnership interest in the Kitsault Mine, for which the Company expects an LOI in January 2011.

In addition, the Company expects to raise $4 million at $0.394 per share via a flow-through financing.

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Eagle Star Minerals Extends Accelerated Expiry Date of $0.20 Warrants

December 22, 2010

Eagle Star Minerals (OTC Other: ELGSF; TSX-V: EGE) has extended the accelerated expiry date of 6.425 million warrants until January 27, 2011 stemming from a delay in the receipt of assay results from the Company’s Phase 1 exploration program at its Angico iron project.  The warrants have an exercise price of $0.20.

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Laurion Hits Positive Base Metal and Gold Results at Sturgeon River

December 22, 2010

Laurion Mineral Exploration (OTCQX: LMEFF; TSX-V: LME) drilled the Tehya Zone in the summer of 2010 and reported 0.94% copper, 3.91% zinc, 27.80 g/t silver and 0.45 g/t gold over 4.08 metres in drill hole LME10-07.  More recently, the Company completed channel sampling at the Tehya Zone returning 0.91% copper, 7.44% zinc, and 30.80 g/t silver over 1.50 metres and 29.50 g/t gold over 0.50 metres in a gold bearing quartz vein.

The Tehya zone is adjacent to the HWY 801 which offered the opportunity to strip the overburden to exposure the mineralized zone for mapping and channel sampling. A zone of sulphide mineralization was exposed for approximately 15 meters and mapped and channel sampled with a diamond saw. The channels are oriented across the strike of the zone. In addition a zone of gold bearing quartz veining located 10 meters structurally above the sulphide zones was exposed for approximately 35 meters, and was similarly mapped and channel sampled.

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Teryl Resources Increases Net Profit Interest in Silverknife 1 & 2 Properties by 10%

December 22, 2010

Teryl Resources (OTCBB: TRYLF; TSX-V: TRC) has acquired an additional 10% net profit interest in the Silverknife property in exchange for 200,000 shares of it common stock.

The Silverknife Property is contiguous to Silvercorp’s Silvertip silver-lead-zinc deposit which lies less than one (1) km from the Property boundary. Silvercorp has been active in the past two (2) years exploring and re-evaluating the Silvertip Property towards the initiation of mining operations. Recently, Silvercorp opened up a 50 man camp on the Silvertip Property and has announced plans to apply for a Provincial Small Mine Permit for an underground mining operation with a capacity of under 75,000 tonnes per year and all ancillary dewatering and related permits. Exploration diamond drilling from 10,000-20,000 meters is currently underway on the Silvertip Property.

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Gold Bullion Appoints New Transfer Agent

December 22, 2010

Gold Bullion Development Corp. (OTC Other: GBBFF; TSX-V: GBB) has appointed Computershare as its new transfer agent, effective December 16, 2010.  From this date forward, all inquiries and correspondence relating to shareholder records, transfer of shares, lost certificates, or change of address should be directed to Computershare via the following information:

Computershare
3rd Floor, 510 Burrard Street
Vancouver, British Columbia
Canada  V6C 3B9

Relationship Manager, Client Services
Email:
Telephone:
Facsimile:
Internet:
Bernadette Villarica
Bernadette.villarica@computershare.com
604 661 9488
604 661 9401
www.computershare.com

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Trueclaim Completes $1.25 Million Above-Market Funding

December 22, 2010

Trueclaim Exploration (OTCQX: TRMNF; TSX-V: TRM) raised $1.25 million in flow through financing through the issuance of units priced at $0.26 per unit.  Each unit consists of one common share and one half common share purchase warrant.  Each full warrant will have a term of 18 months and an exercise price of $0.40.

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