Euromax Significantly Grows Resource Estimate at Ilovitza

April 4, 2012

Euromax Resources (OTCQX: EOXFF; TSX-V: EOX) has completed an updated compliant resource estimate at Ilovitza to inlcude approximately 7,400 metres of drilling during 2010 and 2011.  The updated resource estimate consists of sulphide and mixed resources, which is comprised of gold, copper and molybdenum, and oxide gold resources.

The table below summarizes the updated 43-101 compliant resource estimate at Ilovitza.  Ilovitza now has an indicated resource of 0.2 million gold ounces and 111.5 million pounds of copper and an inferred resource of 4.4 million gold ounces and 1.7 million pounds of copper.  In the aggregate on a gold equivalent basis, Ilovitza’s combined indicated and inferred resource is approximately 8.2 million gold equivalent ounces.

 

 

 

 

 

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Xtra-Gold’s Drill Results Intercept 1.96 g/t Gold Over 25 Metres and 1.5 g/t Gold Over 23 Metres

April 4, 2012

Xtra-Gold Resources (OTCBB: XTGR; TSX: XTG) has assasys from 14 additional diamond core holes totaling 3,334 metres from its Kibi Gold Project in Ghana, highlights of which include:

  • 25 metres grading 1.96 grams per tonne (“g/t”) gold, including 2.79 g/t gold over9 metres, in #KBDD12189 from 195 metres down-hole (Big Bend Zone);
  • 23 metres grading 1.50 g/t gold, including 2.80 g/t gold over 6 metres, in #KBDD12187 from 331 metres down-hole (Big Bend Zone);
  • Work on an initial NI 43-101 – compliant mineral resource estimate on the Big Bend and East Dyke gold zones of the Kibi Project’s Zone 2 has commenced by SEMS Exploration Services Ltd of Accra, Ghana.

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Revolution Resources Closes $5.77 Million Financing

April 3, 2012

Revolution Resources (OTCQX: RVRCF; TSX: RV) has closed its previously announced bought deal public offering, including the full exercise of the over-allotment option granted to the underwriters. The Company issued 16,962,500 units at a price of $0.34 per unit for gross proceeds of $5,767,250 (the “Offering”). Each unit was comprised of one common share and one-half of one transferable share purchase warrant. Each whole share purchase warrant will entitle the holder to acquire one common share of the Company at a price $0.60 for a period of 18 months following the closing of the Offering.

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Roxgold Drill Program Underway, Results Starting to Come In

April 3, 2012

Roxgold (OTC Other: ROGFF; TSX-V: ROG) resumed drilling at its Yaramoko property in Burkina Faso in mid-January 2012, since which time the Company has completed 49 holes with an additional 3 holes in progress.  From these holes, 6,605 core samples were submitted to the assay facility in Burkina Faso for processing.  To date, complete results have been received for only 2 holes and their significant gold intercepts are set out below.

  • YRM-12-DDH-070 reported 9.96 g/t gold from 85.0 m to 87.4 m (1.92 m estimated true width)
  • YRM-12-DDH-074 reported 7.58 g/t gold from 90.5 m to 93.6 m (2.48 m estimated true width)

Discussions with the local assay lab have indicated a large backlog of samples at that facility and no assurance of timely delivery of additional results. As a result, Roxgold has removed 530 selected samples from this facility and with those on hand has begun the process to ship the 636 samples by air to TSL Laboratories in Saskatoon, Saskatchewan. This process was employed by the Company during Phase 1 of its drilling campaign last year to avoid the excessive delays associated with assaying in Burkina Faso and results were generally received within 3-4 weeks of the date of shipping.

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African Gold Continues Work at Kobada Property in Mali Without Interruption

March 29, 2012

African Gold Group (OTC Other: AGGFF; TSX-V: AGG) continues to work, unabated, at the Company’s Kobada, Mali gold project.  No disruption in work programs or staffing has been experienced as a result of recent events in Bamako, Mali.

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Balmoral Resources Drill Results Intersect 11.42 g/t Gold Over 9.3 Metres, Confirms Additional High-Grade Gold Discovery

March 29, 2012

Balmoral Resources (OTCQX: BALMF; TSX-V: BAR) has assays back on the first four drill holes of the winter 2012 drill program.  Follow-up testing of the ME-16 discovery, announced December 5, 2011 (NR11-31), returned an intercept of 9.30 metres grading 11.42 g/t gold from drill hole MDE-12-20. This compares favourably with discovery hole MDE-11-16 which returned 9.33 metres grading 12.93 g/t gold. The reported intercept from hole MDE-12-20 includes a bonanza grade section which returned 41.22 g/t gold over a 2.50 metre interval.

According to Darin Wagner, President and CEO of Balmoral, “The initial results from the Martiniere East – ME-16 drilling confirm the presence of another high-grade gold bearing feature on the Martiniere Property.  Located approximately one kilometre east of the Martiniere West Zone, the ME-16 area may have the potential to add additional high-grade, near surface ounces to the expanding discovery at Martiniere West.”

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Gold Standard Announces New Board Member and Manager of Projects

March 29, 2012

Gold Standard Ventures (OTCQX: GDVXF; TSX-V: GV) has appointed David Cole to the Board Of Directors of the Company and added Steven Koehler to the Nevada exploration team as Manager of Projects.

Mr. Cole has over 27 years of mining and mineral exploration industry experience. In December 2003, Mr. Cole founded Eurasian Minerals Inc. as a public company, which has grown to a market capitalization of $100 million. Eurasian Minerals holds over 100 exploration projects in 11 countries.

Mr. Koehler over his 22 year career has held senior level exploration positions with Newmont, Placer Dome and Miranda Gold, exploring for gold on the Carlin and Cortez Trends of northern Nevada. During this time, he participated in gold discoveries at Leeville, Four Corners, Hardie Footwall Extension, Pete underground and Cortez Hills. Most recently as Chief Geologist of Evolving Gold, Steve led the Nevada exploration programs which included the expansion of the Arch gold system on the Carlin Trend.

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