Argentina Mining's Blog I Latest news on Mining in Argentina

Este blog fue creado para publicar novedades sobre la mineria en Argentina, complementando así nuestro web y presencia en redes sociales. Como todas nuestras actividades, apunta a conectar a la comunidad minera argentina y establecer un ámbito de promoción de la actividad en el mundo, generando oportunidades de negocios.
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This blog was created to publish news on argentinean mining, thus complementing our website and presence in social networks. As all of our activities, it intends to connect the mining community in Argentina and provide a place to promote the activity in the world, developing business opportunities.

26 jun 2009

HuntMountain Resources Signs LoI To Sell Argentine Subsidiary Cerro Cazador To Sinomar Capital In Reverse Takeover Transaction - Quick Facts

(RTTNews) - Wednesday, HuntMountain Resources Ltd. (HNTM.OB: News ) signed a Letter of Intent or LOI with Sinomar Capital Corp. (SMM-P.V), a Canadian Capital Pool Corporation. Following the LOI Sinomar will acquire 100% of the shares of HuntMountain's Argentine subsidiary, Cerro Cazador S.A. in a Reverse Takeover Transaction. The LOI contemplates the issuance of 29.1 million common shares and 20.9 milion convertible preferred shares of Sinomar, all with a deemed value of C$0.30 per share. The total deemed value for the transaction is C$15 million. Upon completion of the transaction, HuntMountain will own a majority controlling interest in Sinomar.

The LOI also contemplates that Sinomar will raise, concurrently with the closing of the Acquisition a minimum of C$1.5 million and a maximum of C$3 million by way of a combination of a short form offering document and private placement at a price of C$0.30 per share.

Continue reading at: http://www.rttnews.com/Content/QuickFacts.aspx?Node=B1&Id=988490%20&Category=Quick%20Facts

Castillian Issuance of Shares for Debt

TORONTO, ONTARIO, Jun 25, 2009 (MARKETWIRE via COMTEX) -- Castillian Resources Corp. /quotes/comstock/11v!ct (CA:CT 0.07, +0.01, +8.33%) today announced that it has successfully reached a settlement agreement with a creditor of the Company to re-structure CAD $83,907 in outstanding net debt as at June 12, 2009. Castillian will settle the outstanding amount through the issuance of 1,500,000 common shares of the Company. This transaction is subject to TSX Venture Exchange approval. Following the completion of this debt settlement, Castillian will have 107,489,359 common shares issued and outstanding.

About Castillian Resources

Castillian Resources Corp. is a Canadian mineral exploration company listed on the TSX Venture Exchange under the symbol "CT" which has partnered with Xstrata Nickel to explore the approximately 153,000 hectares of the Mangabal nickel-copper project in Brazil. The Company is earning an interest in the Las Aguilas Nickel-Copper-PGM Project in Argentina from Marifil Mines Ltd. and has the right to purchase a 100% interest in the Kagera Project which comprises over 1,600 square kilometres in the highly mineralized Kabanga Nickel Belt in Tanzania and rights to acquire 90% of the Pederson deposit, an advanced gold exploration project in Bolivia which is currently under force majeure.

Forward-Looking Statement

Cautionary Note Regarding Forward-Looking Information This press release contains "forward looking information" within the meaning of applicable Canadian securities legislation. Forward looking information includes, but is not limited to, statements with respect to the future financial or operating performance of the Company and its projects, the terms of the shares for debt settlement and regulatory approvals. Generally, forward looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: financing not being available at desired prices; general business, economic, competitive, political and social uncertainties; the actual results of current exploration activities; timing and availability of external financing on acceptable terms; conclusions of economic evaluations; competition; future prices of mineral prices; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; and, delays in obtaining governmental approvals or required financing or in the completion of activities. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Contacts:
Castillian Resources Corp.
Ana Lopes
Manager Investor Relations
(416) 861-2264

Castillian Resources Corp.
David Gower
President & CEO
(416) 861-5902
info@castillian.ca
www.castillian.ca

SOURCE: Castillian Resources Corp.

Magma Raises C$100 Million in Canada’s Biggest IPO in a Year

By Doug Alexander and Sean B. Pasternak

June 25 (Bloomberg) -- Magma Energy Corp., a Vancouver- based geothermal power company, raised C$100 million ($86 million) in Canada’s biggest initial public offering in 13 months, people familiar with the sale said.
Magma sold 66.7 million shares at C$1.50 each, according to people familiar with the matter. The company, which initially sought to raise C$50 million, increased its offering to meet demand, the people said today.
The sale is the biggest IPO in Canada since Toronto-based money manager Sprott Inc. went public in May 2008 in a C$200 million sale, according to Bloomberg data.

Continue reading at: http://www.bloomberg.com/apps/news?pid=20601082&sid=aIvIyKLdeFMs

Brought to you by: http://www.argentinamining.com/

Palladon Ventures and Luxor Capital Group Reach Agreement to Extend Maturity of Loans Due June 26, 2009

SALT LAKE CITY, UTAH, Jun 26, 2009 (MARKETWIRE via COMTEX) -- Palladon Ventures Ltd. ("Palladon" or the "Company") /quotes/comstock/11v!pll (CA:PLL 0.08, -0.02, -16.67%) (FRANKFURT: PV-1) announced today that the Company has executed an agreement (the "Extension Agreement") with Luxor Capital Group, LP ("Luxor"), to extend the term of the Company's two loans payable to Luxor in the current aggregate amount (including principal and accrued interest) of approximately US$37 million (the "Luxor Loans"), which loans were otherwise payable in full on June 26, 2009. The Company is currently seeking TSX Venture Exchange approval of the Extension Agreement, the primary terms of which are described below.

The Extension Agreement anticipates two extension periods. The first extension period is to October 15, 2009 ("First Extension Period"), while a second extension to December 31, 2010 ("Second Extension Period") is contingent on the Company raising funds (the "Interim Financing") of no less than US$5,000,000 during the First Extension Period. The Company will pay-in-kind interest accruing during the extension periods at 12.5% per annum, thus preserving cash and providing Palladon flexibility to fund operations. In connection with the First Extension Period, the Company has agreed to pay additional interest of US$500,000, which will be added to the principal amount of the Luxor Term Loan, and would be payable in cash out of the Interim Financing.

During the First Extension Period, the Company will endeavor to complete the Interim Financing to fund operations, advance feasibility studies for iron concentrate and alternate iron products (DRI, pig iron or iron nuggets), and potentially repay a portion or all of the Luxor Loans. The Company will attempt to raise a minimum of US$5 million in the Interim Financing, which is anticipated to fully fund operations through the end of 2010. Palladon will also continue discussions with strategic and financial investors regarding larger funding options to refinance and repay the Luxor Loans, as well as to advance its concentrate and alternate iron production projects.

If Palladon raises a minimum of US$5 million of equity capital prior to October 15, 2009 and if certain other conditions have been met, then the due date on the Luxor Loans will be extended, without further action by any party, to December 31, 2010. Upon the closing of the Interim Financing and commencement of the Second Extension Period, Palladon will be obligated to pay additional interest to Luxor in the amount of US$1,750,000 (assuming the Luxor Loans have not been paid in full), payable by the issuance to Luxor of shares of Palladon's common stock at the per share price at which Palladon's common stock is issued or deemed to have been issued in the Interim Financing, provided that in no event shall any such shares issued exceed 5% of Palladon's total shares outstanding after giving effect for the Interim Financing.

Additionally, during the Second Extension Period, if the Luxor Loans continue to be outstanding, Palladon will issue to Luxor on each of December 31, 2009, March 31, 2010, June 30, 2010 and September 30, 2010 common shares in an amount equal to a maximum of 3% of the then total outstanding shares of Palladon's common stock. If the Company repays the Luxor Loans prior to the vesting dates, any future stock grant obligations would terminate.

Luxor has also agreed that after sixty five percent (65%) of the total amounts payable on the Luxor Loans has been paid in cash, at the Company's option, the balance of the Luxor Loans can be converted into Palladon common equity at the most recent share price used to refinance the Luxor Loans, provided that the amount raised in such financing is at least US$10 million and other conditions have been met. Other terms and conditions are included in the Extension Agreement.

Commenting on the Agreement, CEO John Cutler stated, "We are very pleased to have reached this Agreement with Luxor. They understand the potential for this project and have demonstrated a commitment to work with the Company to advance its efforts. The first extension will allow SRK Consulting (U.S.), Inc. ("SRK") to continue its work which will allow the Company to accelerate discussions involving near-term financing and strategic options for the project."

An important milestone in the near term will be the filing of a NI 43-101 compliant Preliminary Economic Assessment Report, including a resource statement. Recent and ongoing confirmation drilling at Comstock/Mountain Lion and stockpiles on the property is anticipated to allow SRK to bring portions of Palladon's iron ore resource into compliance with Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") guidelines. The Second Extension Period, if exercised, would allow the Company time to complete a bankable feasibility study for the project and to continue proving up additional resources. In addition to SRK's work, the Company continues to explore near-term and intermediate-term shipping options that would provide cash flow to the Company.

Finally, the Company is in the last stages of completing the 2009 audited financial statements. As part of this process, the Company anticipates that it will submit amended and restated interim financial statements to the British Columbia Securities Commission ("BCSC") within the next two weeks. The Company anticipates that the trading halt will be resolved soon after receiving approval from the BCSC at which point the audited financial statements will be released.

On Behalf of the Board of Directors,

John W. Cutler, President and Chief Executive Officer

About Palladon

Palladon Ventures Ltd. is a junior resource company focused on advancing the Comstock/Mountain Lion iron mine in Iron County, Utah. Palladon also holds gold exploration projects in Nevada, Utah and Argentina.

Disclaimer for Forward-Looking Information

Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding: (1) the Company's ability to raise the Interim Financing, complete feasibility studies for iron concentrate and alternate iron products and repay a portion or all of the Luxor Loans; (2) the Company's belief that it will raise a minimum of US $5 million in the Interim Financing and that such funds will fully fund operations through the end of 2010; (3) the Company's ability to continue discussions with strategic and financial investors regarding larger funding options to refinance and repay the Luxor Loans, as well as to advance the concentrate and alternate iron production projects; (4) the Company's expectation and ability to complete a NI 43-101 compliant Preliminary Economic Assessment Report, including a resource statement, in the near term; (5) the Company's belief and ability to provide details of SRK's preliminary evaluation in the near term; (6) SRK's ability to bring portions of the Company's iron ore resource into compliance with Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") guidelines; (7) the Company's expectation and ability to, during the second extension period, complete a bankable feasibility study for the project and to continue proving up additional resources; (8) the Company's ability to explore near-term and intermediate-term shipping options that would provide cash flow to the company; (9) the Company's expectation and belief that the amended and restated interim financial statements will be submitted to the British Columbia Securities Commission ("BCSC") within the next two weeks; and (10) the Company's belief that the trading halt will be resolved soon after receiving approval from the BCSC at which point the audited financial statements will be released. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them.

These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) a downturn in general economic conditions in North America and internationally, (2) the inherent uncertainties and speculative nature associated with mineral exploration and production, (3) a decreased demand for minerals, (4) any number of events or causes which may delay or cease exploration and development of the Company's property interests, such as environmental liabilities, weather, mechanical failures, safety concerns and labour problems; (5) the risk that the Company does not execute its business plan, (6) inability to retain key employees, (7) inability to finance operations and growth, (8) other factors beyond the Company's control (9) the risk that the Company will not be able to raise funds due to Luxor Capital Group and (10) the risk that the Company is unable to satisfy the BCSC's requests. These forward-looking statements are made as of the date of this news release and, except as required by law, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


Contacts:
Palladon Ventures Ltd.
John W. Cutler
President & CEO
801.521.5252
801.521.5454 (FAX)
info@palladonventures.com
http://www.palladonventures.com/


SOURCE: Palladon Ventures Ltd.

22 jun 2009

Yamana Gold added to FTSE Gold Mines Index

TORONTO, June 22 /PRNewswire-FirstCall/ - YAMANA GOLD INC. (TSX:YRI; NYSE: AUY; LSE:YAU) announced that effective today its shares have been added to the FTSE Gold Mines Index.

The FTSE Gold Mines Index is designed to reflect the performance of the worldwide market in the shares of companies whose principal activity is the mining of gold. The index series encompasses all gold mining companies that have a sustainable and attributable gold production in excess of 300,000 ounces per year and derive the majority of their revenues from mined gold.

"Yamana is pleased to be recognized as a premier global gold producer and to join the impressive group of companies comprising the FTSE Gold Mines Index" said Peter Marrone, Yamana's chairman and chief executive officer. "Yamana considers that becoming a member of this prestigious index will further increase global investor awareness and its visibility among index-tracking funds."

About Yamana
Yamana is a Canadian-based gold producer with significant gold production, gold development stage properties, exploration properties, and land positions in Brazil, Argentina, Chile, Mexico and Central America. The Company plans to continue to build on this base through existing operating mine expansions and throughput increases, the advancement of its exploration properties and by targeting other gold consolidation opportunities in the Americas.

SOURCE Yamana Gold Inc.

FACTBOX: Combined metals assets of Xstrata and Anglo

(Reuters) - Swiss-based miner Xstrata Plc is seeking a merger of equals with rival Anglo American Plc, which would push the group to the top of the world's rankings in copper mining.
A merged company, worth about $68 billion, would also be the world's No.1 zinc miner and move one place up the ladder in nickel mining.
COPPER
The proposed combination would create the world's number one copper mine producer, with output of 1.579 million tonnes on a 2008 basis, according to industry consultants CRU Group.
Chilean state-owned company Codelco is currently the world's largest copper miner.

Continue reading at: http://www.reuters.com/article/euDealsNews/idUSTRE55L27920090622

Crusher expansion on time for Q3 commissioning at Barrick's Veladero mine

By: Francisca Pouiller
22nd June 2009

BUENOS AIRES (miningweekly.com) – Barrick Gold is on schedule to complete a crusher expansion during the third quarter at its Veladero mine, in Argentina's San Juan province, which will increase output levels at the mine.

Some $70-million has been spent on the expansion, to increase processing capacity from 50 000 t/d to 85 000 t/d.

During the project, the number of workers at the operation more than doubled, after around 1 000 people were hired for construction work, on top of the 900 mine employees.

The additional employment opportunities have been well received by local communities, said Barrick Argentina head of communications Miguel Martín.

Continue reading at: http://www.miningweekly.com/article/crusher-expansion-on-time-for-q3-commissioning-at-barricks-veladero-mine-2009-06-22

20 jun 2009

Beaty makes splash in geothermal sector after years in copper and silver firms

By Brenda Bouw – Jun 13, 2009

VANCOUVER, B.C. — Investor interest is heating up in the geothermal energy space as Magma Energy Corp., headed by mining entrepreneur Ross Beaty, gets set to go public in the coming weeks.
The Vancouver-based company is now working on pricing its initial public offering later this month, which analysts expect to be between $1.25 to $1.75 per share, raising at least $50 million.
That could bring the young company's market capitalization to about $295 million, says analyst Carolina Vargas of Clarus Securities Inc.

Continue reading at: http://bit.ly/4rHs4X

Lithium Americas Corp. to Raise $1.575 Million for Its Lithium Properties

TORONTO, ONTARIO - (June 16, 2009) - Latin American Minerals Inc. (TSX VENTURE:LAT) (the "Corporation") announces that Lithium Americas Corp. ("Lithium Americas") has agreed to issue, on a private placement basis, 10,500,000 common shares at $0.15 per share for gross cash proceeds of $1.575 million for its lithium projects (the "Private Placement").
Lithium Americas holds certain property interests in the lithium brine district of Puna, Argentina (the "Lithium Properties") acquired from Grupo Minero Los Boros and the Corporation. A more detailed description of the Lithium Properties and their consolidation in Lithium Americas can be found in the Corporation's June 11, 2009 press release which is available at www.latinamericanminerals.com and on SEDAR.

Following the completion of the Private Placement, the Corporation's proportional interest in Lithium Americas will be 32%. There is no public market for the shares of Lithium Americas.
PowerOne Capital Markets ("PowerOne") will act on a best efforts agency basis on the Private Placement. PowerOne is to receive a commission of 8% of the gross proceeds and broker warrants entitling it to acquire such number of common shares as is equal to 10% of the aggregate number of common shares sold by PowerOne in the Private Placement, at a price of $0.15 per common share, for a period of one year following the date Lithium Americas becomes a publicly traded company.

The Private Placement is conditional upon due diligence by PowerOne, regulatory review and approval, and other closing conditions.

Investors are invited to visit the Latin American Minerals IR Hub athttp://agoracom.com/ir/LatinAmerican where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to LAT@agoracom.com where they can also request to be added to the investor e-mail list to receive all future press releases and updates in real time.

Latin American Minerals Inc. is a mineral exploration company focused on the acquisition and development of minerals projects in under-explored but highly prospective countries of Latin America.

This news release contains forward-looking statements, which can be identified by the use of statements that include words such as "could", "potential", "believe", "expect", "anticipate", "intend", "plan", "likely", "will" or other similar words or phrases. These forward-looking statements, including statements regarding the Corporation's beliefs in potential mineralization, are based on current expectations, assumptions and projections about future events and entail various risks and uncertainties that are beyond the Corporation's ability to control or predict. Actual results may materially differ from expectations as more information regarding a property is gathered or if the Corporation's estimates or assumptions prove inaccurate. Factors that may materially affect actual results include, but are not limited to, political, business and economic conditions in jurisdictions where the Corporation conducts business, and risks associated with mineral exploration and production. The Corporation does not intend, and does not assume any obligation, to update forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by applicable securities laws. Readers should not place undue reliance on forward-looking statements. The results described herein are exploratory in nature and there can be no assurance that they are indicative of Mineral Resources as defined in accordance with National Instrument 43-101.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CONTACT INFORMATION:
Latin American Minerals Inc.
David G. Wahl
President and CEO
(416) 363-0841
http://www.latinamericanminerals.com/

Rob McEwen Invites Investors to Minera Andes' AGM in Vancouver

June 18. The Fairmont Hotel Vancouver, 900 West Georgia Street, Vancouver, BC at 1:30pm PST

VANCOUVER, BRITISH COLUMBIA, Jun 16, 2009 (MARKETWIRE via COMTEX) -- Rob McEwen, Executive Chairman and major shareholder of Minera Andes Inc. /quotes/comstock/11t!mai (CA:MAI 0.92, +0.14, +17.95%) /quotes/comstock/11k!mneaf (MNEAF 0.80, +0.13, +19.23%) , invites you to join him at the company's Annual General Meeting ("AGM") on June 18th, 2009. This year's AGM will be held at 1:30pm in the Saturna Island room at The Fairmont Hotel Vancouver located at 900 West Georgia Street, Vancouver, BC, Canada.

Mr. McEwen and president/CEO Allen Ambrose will be hosting a presentation to attendees at 2:00pm, just following the formal AGM. We hope you will be able to join us! Minera Andes has great growth potential in Argentina. The company's San Jose silver/gold mine is increasing production and expanding its reserves & resources; the company's Los Azules copper deposit is being considered for further development by world copper producer Xstrata; and the company has announced drill programs on 100% owned silver/gold projects near its producing mine. With elevated prices in gold, silver and copper, we look forward to showing why Minera Andes Inc. is a strong company with a bright future.

About Minera Andes Inc.
Minera Andes is a gold, silver and copper exploration company working in Argentina. The Corporation holds or has an interest in approximately 304,000 acres of mineral exploration land in Argentina, including the properties comprising the 49% owned San Jose silver/gold mine. Minera Andes is also exploring the Los Azules copper project in San Juan province, where a scoping study has been completed and a 43-101 technical report filed. Other exploration properties, primarily silver and gold, are being evaluated in southern Argentina.

Contacts:
Minera Andes Inc.
Kris Kottmeier
Head of Investor Relations, Canada
Toll Free: 1-877-689-7018
http://www.minandes.com/

Minera Andes Announces Completion Of Ni 43-101 Technical Report On The June 2008 San José Mine Mineral Resources And Reserve

SPOKANE, WA - June 5, 2009 - Minera Andes Inc. (TSX: MAI and US OTC: MNEAF) announces the results of a NI 43-101 Technical Report that comprises an independent review of the mineral resources and reserves as of June 2008 at the San José mine in Santa Cruz province, southern Argentina. The San José mine is operated by Minera Santa Cruz S.A. ("MSC") (owned 51% by Hochschild Mining plc ("Hochschild") (HOC.L Reuters, HOC.LN Bloomberg, London Stock Exchange) and 49% by Minera Andes.

The Technical Report entitled "NI 43-101 Technical Report, Minera Andes, Inc., San José Silver-Gold Project, Santa Cruz, Argentina", was prepared by SRK Consulting (US), Inc. ("SRK") and endorsed by Chris Elliott (MAusIMM) and Leah Mach (CPG), appropriately qualified persons according to NI 43-101.

Mineral Resources
The June 2008 San José mineral resource and mineral reserve estimates, mine life, and mining rates, disclosed herein are based on work from our joint venture partner that was audited and adjusted by independent qualified persons Chris Elliott and Leah Mach at SRK. The mineral resources and reserves remain open along strike and at depth in some areas.

SRK used a gold price of $600 per ounce (oz) and $10.50 per oz for silver for estimating mineral resources and reserves, which reflect the price outlook in mid-2008 for San José. The average Life of Mine cash operating costs are estimated at $122/tonne of ore processed, or $271/ounce gold equivalent. The base case Net Present Value (NPV), using long-term metal price estimations of $850 per ounce of gold and $12.50 per ounce of silver and a discount rate of 8%, is $205 million. The undiscounted NPV representing cumulative cash flow is $234 million.

At June 30, 2008 total Measured and Indicated Mineral Resources at the San José mine were 570,000 ounces of gold and 39.4 million ounces of silver, contained in 2.5 million tonnes grading 7.11 g/t gold and 490 g/t silver, or 73.6 million ounces of silver on a silver equivalent basis (see table below). An additional 77,000 ounces of gold and 5.1 million ounces of silver, in 447,000 tonnes, grading 5.33 g/t gold and 356 g/t silver are classified as Inferred Resources. The cutoff value used to estimate the mineral resources is 181g/t silver equivalent (using a price of $600/oz for gold and $10.50/oz for silver).


Mineral Resources* - Measured and Indicated Area Resources
(6/30/07)




























































































































Area Resources

(6/30/07)



Grades



Classified Resource



Contained Ounces



Au (g/t)



Ag (g/t)



Total Resource (t)



Measured (t)



Indicated

(t)



Gold

(oz)



Silver

(oz)



Silver equivalent

(oz)



Huevos Verdes



6.80



529



560,000



292,000



268,000



122,000



9,524,000



16,844,000



Frea



8.31



374



745,000



446,000



299,000



199,000



8,958,000



20,898,000



Odin



5.27



298



196,000



-



196,000



32,000



1,878,000



3,798,000



Kospi



6.86



609



887,000



-



887,000



196,000



17,367,000



29,127,000



Ayelén



6.22



466



79,000



-



79,000



16,000



1,184,000



2,144,000



HVR



4.86



430



31,000



12,000



19,000



5,000



439,000



739,000



Total Project

06/30/08



7.11



490



2,499,000



750,000



1,749,000



570,000



39,350,000



73,550,000



Total Project

06/30/07



7.91



500



2,365,000



645,000



1,721,000



602,000



38,032,000



74,092,000



Percentage change







+6







-5



+3



-1





Note: Contains 100 percent of the resources, Minera Andes ownership of the project is 49%. Mineral Resources are inclusive of mineral reserves. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Minera Andes has calculated the Silver/Gold equivalency as 1oz gold = 60 oz silver.

The mineral resource estimates are based on 593 surface and underground drill holes (12,140 meters), 3 surface trenches (95.2 meters) and 5,389 channel samples (11,084 meters). The channel samples were taken from underground workings constructed at Huevos Verdes, Frea, and Kospi. The nominal drill spacing at Huevos Verdes and Frea is approximately 35 meters along strike (horizontally) and 50 meters vertically and at Kospi it is approximately 40 meters by 40 meters. The underground channel samples are spaced at approximately 2.5m along the drifts and the drifts are spaced at about 20m vertically.

The resource models were developed using industry-accepted methods. SRK validated the model estimates and found them to reasonably estimate grade and tonnage. The mineral resource estimates are compliant with CIM Definition Standards for Mineral Resources and Mineral Reserves as incorporated by reference in NI 43--101.

Mineral Reserves
At June 30th, 2008 the Proven and Probable Mineral Reserves, based on an overall economic cutoff value of $115/t (using a price of $600/oz for gold and $10.50/oz for silver), are 1,615,000 tonnes at 6.88 g/t gold and 486 g/t silver, containing 357,000 ounces of gold and 25,230,000 ounces of silver. The mineral reserves also take into account marginal blocks of ore located on the periphery of higher grade zones. The marginal cutoff for these blocks was $45/t. The marginal cutoff was defined by the value of ore that meets the variable costs, but not the fixed costs.

Mineral Reserves* - Proven and Probable Area Reserves
(6/30/07)
























































































Area Reserves

(6/30/07)



Grades



Classified Reserve



Contained Ounces



Au (g/t)



Ag (g/t)



Total Reserve

(t)



Proven

(t)



Probable (t)



Gold

(oz)



Silver

(oz)



Silver Equivalent (oz)



Huevos Verdes



6.06



460



393,000



249,000



143,000



77,000



5,812,000



10,432,000



Frea



7.92



360



524,000



270,000



254,000



133,000



6,058,000



14,038,000



Kospi



6.55



596



698,000



-



698,000



147,000



13,361,000



22,181,000



Total Project

06/30/08



6.88



486



1,615,000



519,000



1,095,000



357,000



25,231,000



46,651,000



Total Project

6/30/07



6.79



430



2,386,000



657,000



1,729,000



521,000



33,017,000



64,277,000



Percentage Change







-32







-31



-24



-27





*Note: Contains 100 percent of the reserves, Minera Andes ownership of the project is 49%. Minera Andes has calculated the Silver/Gold equivalency as 1oz gold = 60 oz silver.


The decrease in the reserves from June 2007 to June 2008 is due to the application of a higher cut-off grade and an increased dilution allowance by SRK as well as depletion. The following summarizes the key assumptions, parameters and methods used in the mineral resource and mineral reserve estimates:

Gold assays were cut to 120 g/t, 10 g/t, 50 g/t, 20 g/t and 50 g/t and 36 g/t at Huevos Verdes South, Central, North, Ramal, Frea and at Kospi respectively. Silver assays were cut to 10,000 g/t, 1,000 g/t, 6,000 g/t, 2,000 g/t, 4,000 g/t and 3,800 g/t at Huevos Verdes South, Central, North, Ramal, Frea, and at Kospi, respectively.
Density values used for the estimate are 2.595 t/m3 for Huevos Verdes, 2.611 t/m3 for Frea, and 2.621 t/m3 for Kospi.
The geological model was developed using a series of northeast oriented sections spaced approximately 5 meters to 50 meters apart.
Assays were composited to full vein-width interval.
The estimation was done using Ordinary Kriging coupled with oriented search ellipses within the vein wireframes.
Block grades were estimated based on interpretation of geological parameters logged in drill holes.
Included in the mineral resource estimate at Huevos Verdes and Frea are 17,886 chip channel samples taken from the underground workings.
Conventional Cut and Fill (CC&F) minimum mining width 0.8m
Mechanized Cut and Fill (MC&F) minimum mining width 2.0m
Planned dilution 0.2m HW + 0.2m FW= 0.4m total
Unplanned dilution 5%
Economic stope outlines from BECOV US$115/t
A technical report, prepared in accordance with NI 43-101 will be filed on SEDAR (www.sedar.com) within 45 days. This news release was prepared by, or under the supervision of, Mr. Allen Ambrose, President of Minera Andes, a "qualified person" within the meaning of NI 43-101. For (i) the resource/reserve estimate contained herein; (ii) a description of the key assumptions, parameters and methods used to estimate the mineral resource/reserve referred to in this news release; and (iii) a general discussion of the extent to which the estimate of mineral resources/reserves may be materially affected by any unknown environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues, please refer to the technical report that will be filed within 45 days.

San José Mine Update

The capacity of the processing plant at San José was increased to 1,500 tonnes per day in fourth quarter of 2008, and the processing plant is currently consistently achieving target production throughput. However, mine production has lagged behind mill capacity due to difficult ground conditions encountered in the Kospi vein development. Those problems have largely been overcome, and MSC is forecasting full production from Kospi by the end of the second quarter. During the development of the Kospi vein, mill feed has been supplemented with material from low grade surface stockpiles. For the full year, MSC is forecasting silver production approximately 30% higher than 2008 and gold production approximately 50% higher than 2008.

Subsequent to the June 2008 resource and reserve estimate, which was the subject of SRK's review, MSC has prepared an updated estimate of the resources and reserves at San José as at December 31, 2008. The updated resources and reserves, compliant with NI 43-101 standards, will be released shortly.

Minera Andes is a gold, silver and copper exploration company working in Argentina. The Corporation holds or has an interest in approximately 304,000 acres of mineral exploration land in Argentina, including the properties comprising the 49% owned San José silver/gold mine. Minera Andes is also exploring the Los Azules copper project in San Juan province, where a scoping study has been completed and a 43-101 technical report filed. Other exploration properties, primarily silver and gold, are being evaluated in southern Argentina. The Corporation presently has 230,538,851 shares issued and outstanding.

Allen V. Ambrose, Minera Andes' President, who is an appropriately "qualified person" as defined by National Instrument 43-101, has supervised the preparation of the information in the news release.

This news is submitted by Allen V. Ambrose, President and Director of Minera Andes Inc.

For further information, please contact: Art Johnson at the Spokane office, or Krister A. Kottmeier, investor relations -- Canada, at the Vancouver office. Visit our Web site: www.minandes.com.

Spokane Office
111 East Magnesium Road; Ste. A
Spokane, WA 99208 USA
Phone: (509) 921-7322
E-mail: info@minandes.com
Vancouver Office
911-470 Granville Street
Vancouver, B.C. V6C 1V5
Phone: (604) 689-7017; 877-689-7018
E-mail: ircanada@minandes.com

Caution Concerning Forward-Looking Statements:
This news release contains forward-looking statements and forward-looking information within the meaning of applicable US and Canadian securities laws. Such forward-looking statements or information include expected production at MSC's San José Project. In making the forward-looking statements and providing the forward-looking information, we have made numerous assumptions. Although our management believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that the forward-looking statements will prove to be accurate. Forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause our actual results to be materially different from that expressed or implied by such forward-looking information. Such risks, uncertainties and other factors include among other things, declines in the price of gold, silver, copper and other base metals, capital and operating cost increases, changes in general economic and business conditions, including changes in interest rates and the demand for base metals, economic and political instability in Argentina, discrepancies between actual and estimated production and mineral reserves and resource, operational and development risk, and the speculative nature of mineral exploration and regulatory risks.

Readers should not place undue reliance on forward-looking statements or information. We undertake no obligation to reissue or update forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. See our annual information form for additional information on risks, uncertainties and other factors relating to the forward-looking statements and information. All forward-looking statements and information made in this news release are qualified by this cautionary statement. Minera Andes' joint venture partner, a subsidiary of Hochschild Mining plc, and its affiliates do not accept responsibility for the use of project data or the adequacy or accuracy of this release.

Cautionary Note to U.S. Investors:
The United States Securities and Exchange Commission (the "SEC") permits mining companies, in their filings with the SEC, to disclose only those mineral deposits with "mineral reserves" that a company can economically and legally extract or produce. We use certain terms in this news release, such as "mineral resources", that the SEC guidelines strictly prohibit us from including in our filings with the SEC, because these terms are common usage in Canada and form part of our Canadian filing requirements. U.S. Investors are urged to consider closely the disclosure in our Form File No. 40F, which may be secured from us, or from the SEC's website at http://www.sec.gov/edgar.shtml.

18 jun 2009

Silver Standard Resources Inc.: Updated Resource Estimate for Diablillos Silver-Gold Project

VANCOUVER, BRITISH COLUMBIA -- 06/18/09 -- Silver Standard Resources Inc. (TSX: SSO)(NASDAQ: SSRI) reports an updated resource estimate for the wholly-owned Diablillos Project located in the Province of Salta in northern Argentina. The Project is 275 kilometers (171 miles) south of Silver Standard's Pirquitas Mine in the Province of Jujuy. The resource estimate follows recent diamond drilling completed by Silver Standard which was successful in converting a significant portion of the previously reported inferred resources into the indicated category.

The following block model resource estimate is for the Oculto Zone, one of 11 mineralized zones identified on the property. This resource estimate was completed by Dr. Gilles Arseneau, P. Geo., Chief Geologist, of Wardrop, A Tetra Tech Company in Vancouver, B.C. Dr. Arseneau is an 'independent qualified person' for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators and has verified the Diablillos data disclosed in this release.

The resource estimate was based on 54,954 assays from 301 holes drilled on the Oculto Zone. Mineral resources were estimated, using Gems Software version 6.2, into 10 x 10 x 5 m blocks within grade shells representing greater than 0.5 g/t gold and greater than 40 g/t silver, using ordinary kriging and 1.5 m composited drill data. Blocks outside of the grade shells were also estimated using ordinary kriging. Blocks within the greater than 0.5 g/t Au and greater than 40 g/t Ag grade shells were classified as Indicated and those outside of the grade shells as Inferred.


Diablillos Project - Oculto Zone Resource Summary - June 2009 (1)
----------------------------------------------------------------------------
.......................................................................Contained Ounces(1)
-----------------------------
Category ......Tonnes ......Gold ....... Silver ....... Gold .........Silver
...................(millions) ....(g/t) ......... (g/t) ......(in oz.) ... (in millions of oz.)
---------------------------------------------------------------------------
Indicated..... 21.6 ......... 0.922 ...... 111 ..........640,000 ....... 77.1
---------------------------------------------------------------------------
Inferred .........7.2 .......... 0.807 .....27 .......... 187,000 .........6.3
----------------------------------------------------------------------------
(1) The cut-off grade is based on US$10.00 recovered metal values (RMV) and the following metal prices and recoveries: gold (US$700/oz, 65%); and silver (US$11.00, 40%).


Based on a locked-cycle metallurgical program using conventional milling, preliminary precious metal recoveries averaged 86.9% for gold and 87.0% for silver. The heap leaching characteristics of the mineralization were also tested on a number of composites. Recoveries from column tests using a 3/4 inch crush averaged 65.2% for gold and 43.5% for silver. A pre-feasibility study will be undertaken that will explore various combinations of milling and heap leaching alternatives for this significant silver-gold resource.

Kenneth C. McNaughton, M.A.Sc., P.Eng., vice president, exploration, Silver Standard Resources Inc., is the qualified person responsible for the Diablillos Project.

Silver Standard Resources Inc. is a significant silver and gold resource company making the transition from explorer to producer as well as seeking growth through exploration and development of its own projects. (Source: Silver Standard Resources Inc.)

To receive Silver Standard's news releases by e-mail, contact Paul LaFontaine, director, investor relations at invest@silverstandard.com or call (888) 338-0046.

Statements contained in this news release that are not historical fact, such as statements regarding the economic prospects of the company's projects, future plans or future revenues, timing of development or potential expansion or improvements, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward looking statements are subject to risks and uncertainties which could cause actual results to differ materially from estimated results. Such risks and uncertainties include, but are not limited to, the company's ability to raise sufficient capital to fund development, changes in economic conditions or financial markets, changes in prices for the company's mineral products or increases in input costs, litigation, legislative, environmental and other judicial, regulatory, political and competitive developments in Canada, technological and operational difficulties or inability to obtain permits encountered in connection with exploration and development activities, labour relations matters, and changing foreign exchange rates, all of which are described more fully in the company's filings with the Securities and Exchange Commission.

Cautionary note to U.S. investors: The terms "indicated mineral resource", and "inferred mineral resource" used in this news release are Canadian geological and mining terms as defined in accordance with National Instrument 43-101, Standards of Disclosure for Mineral Projects ("NI 43-101") under the guidelines set out in the Canadian Institute of Mining, Metallurgy and Petroleum (the "CIM") Standards on Mineral Resources and Mineral Reserves. We advise U.S. investors that while such terms are recognized and permitted under Canadian regulations, the SEC does not recognize them. U.S. investors are cautioned not to assume that any part or all of the mineral deposits in the measured and indicated categories will ever be converted into reserves. "Inferred mineral resources" in particular have a great amount of uncertainty as to their economic feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules estimates of inferred mineral resources may not generally form the basis of feasibility or other economic studies. U.S. investors are cautioned not to assume that any part or all of an inferred mineral resource exists, or is economically or legally mineable. Disclosure of contained metal expressed in ounces is in compliance with NI 43-101, but does not meet the requirements of Industry Guide 7 of the SEC, which will only accept the disclosure of tonnage and grade estimates for non-reserve mineralization.



The TSX has neither approved nor disapproved of the information contained herein.

Contacts:
Silver Standard Resources Inc.
Robert A. Quartermain
President
(604) 689-3846

Silver Standard Resources Inc.
Paul LaFontaine
Director, Investor Relations
N.A. toll-free: (888) 338-0046 or Direct: (604) 484-8212
invest@silverstandard.com
www.silverstandard.com

Cardero Announces 2009 Project Development Strategy. USD4 million to Advance Iron Sands, Copper and Precious Metals Projects

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 17, 2009) - Cardero Resource Corp. ("Cardero" or the "Company") - (TSX:CDU)(NYSE Amex:CDY)(FRANKFURT:CR5) is pleased to provide an update on its key projects moving forward. Having received USD 12 million in initial payments from the sale of Pampa de Pongo Iron Deposit to Zibo Hongda Mining Co., Ltd., Cardero can now focus on its other development and exploration projects in its efforts to maximize shareholder value while it awaits the final payment of USD 88 million.

Cardero is planning an aggressive 2009 field program to advance several high priority base (iron-titanium, copper) and precious metal targets (gold) in its extensive project portfolio.

Upcoming exploration and development efforts will focus on the following key projects:

- Pampa el Toro Iron Sands, Peru - targeting a large bulk-tonnage low-OPEX iron-titanium-vanadium deposit. An initial independent resource estimate is anticipated imminently with full-scale pilot plant melt tests scheduled to commence in July 2009. Cardero is in discussions with major iron and steel groups and is considering both a joint venture to production scenario and a potential sale.

- Iron-Titanium Deposits, Minnesota - The Company has scheduled an independent N.I. 43-101 compliant resource estimate at the Longnose Deposit, Minnesota, USA. Previous work by BHP stated that Longnose is "the largest, highest-grade resource of ilmenite (FeTiO3) in North America". The resource estimate is anticipated in late 2009.

- Organullo Gold Project, Argentina - targeting multi-million ounce gold potential. Initial drill testing of the Organullo gold project is planned for Q3/Q4-2009. The Company believes that historic exploration failed to adequately test this large, pervasive gold-bearing system and that it has the potential to host a large bulk tonnage gold (with accessory copper and bismuth) deposit.

- Baja Iron Oxide Copper Gold Belt - aggressive follow-up of previous drill intercepts, highlights of which include 260 metres @ 0.24% copper (within which 47 metres returned 0.74% copper and high grade replacement mineralization of 6.5 metres of 4% copper and 0.4 g/t gold). Drilling is scheduled to commence in Q3/Q4 2009.

- In summary, as the global markets continue their recovery over the coming months, the Company will continue to work to enhance the value of its asset base with a view to attracting high quality partners to join Cardero in their development. In its effort to maximize shareholder value, the Company will selectively deploy some of the capital it receives from the sale of Pampa de Pongo in support of particularly high potential opportunities.

Iron - Titanium Portfolio

Iron Sands Project - Peru

The initial independent N.I. 43-101 compliant resource estimate by SRK Consulting Engineers is due imminently. The Company is very confident of a developing a large bulk tonnage iron-titanium-vanadium resource.

Metallurgical test-work, being undertaken at the National Testing Laboratory's 'state-of-the-art' laboratory and testing facilities in Oregon, USA, is progressing successfully and according to design. To date, high-quality Pig Iron has been produced at a bench-scale level. Based on these favourable results the Company is progressing to a full-scale melt test of approximately 40 tonnes of 'run-of mine' iron concentrates produced from the central portion of the Iron Sands deposit. The full-scale melt test is scheduled to commence in early July and will take approximately 4 to 6 weeks to complete.

The Company is currently in preliminary discussions with several major iron and steel groups with respect to the Iron Sands project, although there can be no assurance that such discussions will lead to an agreement for the sale or joint venture of the project. The Company believes that the combination of potential low CAPEX, low OPEX and a quick time to market - offering the potential opportunity to generate significant near to medium term cash flow - make the projected economics of the project highly attractive. Accordingly, the Company will evaluate very carefully any sale or JV proposal with a view to determining the best way to create and enhance long-term shareholder value.

Iron - Titanium Deposits - USA

Cardero is currently finalizing 2009 field work plans and engineering studies in order to advance its Longnose Iron - Titanium deposit in Minnesota, USA. Previous work by BHP Minerals, a precursor to BHP Billiton (the world's largest mining conglomerate), estimated 27.57 million tonnes at 21.3% titanium dioxide (TiO2) that they classified as a probable reserve. A global resource was estimated at approximately 45.36 million tonnes which remains open. During this period BHP stated that Longnose is "the largest known resource (of over 46% FeTiO3 ilmenite) in North America with over 27 million tonnes identified".

This historical resource estimate is considered relevant by the Company, both for the purposes of the Company's decision to acquire the property and to guide the Company in formulating an exploration program for the property. However, the Company cautions that both the BHP report and the included resource estimate were prepared before the introduction of NI 43-101, and are therefore historical in nature and the Company is not treating such resources as a current resource under NI 43-101. Investors are further cautioned that a qualified person has not yet completed sufficient work to be able to verify the historical resources, and therefore they should not be relied upon.

Future work programs will seek to verify the historical resources. The 2009 program will include re-sampling, re-analysis and an independent 43-101 resource calculation, which will be completed by SRK Consulting (Canada) Inc. In parallel with this work, planned metallurgical work will build on work previously completed by Pickands-Mather, Hazen Research and the Natural Resources Research Institute (NRRI). Results are anticipated in the third quarter of 2009.

Gold Projects

Organullo Bulk Tonnage Gold Prospect - Argentina

The 100% owned 6,100-hectare Organullo property is located in Salta Province, NW Argentina. The Company is targeting a large potential gold system where geological features share similarities with deeper, structurally controlled epithermal gold mineralization at El Indio in Chile. The Company believes that historic exploration failed to adequately test this large, pervasive gold-bearing system and that it has the potential to host a large bulk tonnage gold (with accessory copper and bismuth) deposit.

Earliest recorded work in the area of the Organullo property comes from reports of small-scale production from the Julio Verne mine during the 1930's. Mining activity focussed on 2 high-grade sub-parallel veins with concentrates reported to average between 10-20 g/t gold, 8.2% copper and 12.5% bismuth. Most recently, in 1994-1995, Triton Mining Corp. and Northern Orion Explorations, Ltd. jointly conducted a mapping and prospecting campaign and completed a 17-hole, 3,295 metre RC exploration drill program. This was followed with a 6-hole diamond drill program in 1997 and an additional 12-hole RC drill program in 1999 by Northern Orion Exploration. Despite the aggressive historic drilling, it appears that most of those holes were oriented parallel to mineralized structures and consequently either missed completely the main target structure identified at the Julio Verne mine or provided intersections that are not representative. In addition, recoveries were very poor, on the order of 20-30%, due to loss of potentially mineralized clay rich zones and high groundwater saturation.

Potential remains open at depth below the Julio Verne workings, along strike of known mineralization and along postulated parallel structures that remain untested.

Textures, geochemistry, host rocks and alteration assemblages are consistent with high sulphidation styles of epithermal mineralization that host prolific gold mineralization elsewhere in the central Andes. Detailed structural and alteration surveys are planned to examine the extent of hydrothermal fluid activity on the property associated with epithermal mineralization; and to test the potential for large Bajo de la Alumbrera or El Salvador-style porphyry deposits at depth. Initial drill testing is scheduled to occur in late Q3 - early Q4 2009.

Copper - Gold Projects

Baja Iron Oxide Copper Gold (IOCG) Belt

Recent structural re-interpretation and analysis has successfully developed multiple bulk tonnage copper-gold targets on the Company's Baja Iron Oxide Copper Gold project. Previous exploration by Anglo American and Cardero successfully intersected locally productive and large pervasive IOCG systems at the Picale and San Fernando prospects.

Drill highlights ranged from 260 - 280 metres @ 0.2 to 0.24% copper & 19% iron within which higher grade intervals occur ranging from 31 to 47 metres at 0.96 to 0.74% copper at San Fernando. At Picale previous exploration drilling by Cardero intersected high grade mineralization in a flat lying replacement body - highlights include 6.5 metres @ 4% copper and 0.4 g/t gold. Future exploration is scheduled to occur in Q3 of 2009 and will test bulk tonnage copper targets at the San Fernando, San Jose and Santa Maria prospects.

Qualified Person

EurGeol Dr. Mark D. Cruise, Cardero's Vice President-Business Development and a qualified person as defined by National Instrument 43-101, has reviewed the scientific and technical information that forms the basis for this news release. Dr. Cruise is not independent of the Company as he is an employee and shareholder.

About Cardero Resource Corp.

While Cardero maintains its focus to realise the considerable value it believes is locked in its significant iron ore assets in the Marcona District of southern Peru, the Company also plans exploration and evaluation of its copper, gold and titanium projects. The common shares of the Company are currently listed on the Toronto Stock Exchange (symbol CDU), the New York Stock Exchange Amex (symbol CDY) and the Frankfurt Stock Exchange (symbol CR5). For further details on the Company readers are referred to the Company's web site (www.cardero.com), Canadian regulatory filings on SEDAR at www.sedar.com and United States regulatory filings on EDGAR at www.sec.gov.

On Behalf of the Board of Directors of CARDERO RESOURCE CORP.

Hendrik van Alphen, President

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 27E of the Exchange Act. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the completion of the sale of Pampa de Pongo and the anticipated receipt of the USD 88 million balance of the purchase price for Pampa de Pongo from Hongda, the timing, cost and nature of future anticipated exploration programs and the results thereof, the potential results of future metallurgical testing on material from Pampa el Toro and the discovery and delineation of mineral deposits/resources/reserves at the Company's Pampa el Toro project are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, variations in the market for, and pricing of, any mineral products the Company may produce or plan to produce, the Company's inability to obtain any necessary permits, consents or authorizations required for its activities, the Company's inability to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies, the failure of Hongda to obtain the required Chinese governmental approvals to proceed with the purchase, the determination by either the Company or Hongda not to proceed with the Pampa de Pongo purchase agreement and other risks and uncertainties disclosed in the Company's annual information form filed with the B.C., Alberta and Ontario Securities Commissions and the annual report on Form 20-F filed with the United States Securities and Exchange Commission (the "SEC"), and other information released by the Company and filed with the appropriate regulatory agencies. All of the Company's Canadian public disclosure filings may be accessed via www.sedar.com and its United States public disclosure filings may be accessed via www.sec.gov, and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.

All of the Company's Canadian public disclosure filings may be accessed via www.sedar.com and its United States disclosure filings via www.sec.gov and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.

This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States.

NR09-08


The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release, which has been prepared by management.

For more information, please contact

Cardero Resource Corp.
Quentin Mai, Manager
Corporate Communications & Investor Relations
(604) 408-7488 or 1-888-770-7488
(604) 408-7499 (FAX)
qmai@cardero.com
www.cardero.com

16 jun 2009

Cadillac Signs Heads of Agreement on Tendal Massive Sulphide Zinc, Lead and Copper Project in Argentina

TORONTO, ONTARIO--(Marketwire - June 16, 2009) - Cadillac Ventures Inc. (TSX VENTURE:CDC) ("Cadillac" or the "Company") is pleased to announce that it has entered into heads of agreement with Latin American Minerals Inc. (TSX VENTURE:LAT) ("Latin American"); whereby, Cadillac has the right to earn a 50% interest in the Tendal VMS Project of Latin American.

The Tendal VMS Project (the "Project") is located in the La Rioja Province of NW Argentina and covers 36,434 hectares at an elevation of 3,000m in an accessible, current and historical mining district. The Tendal project encompasses several distinct targets, each of which have undergone varying amounts of exploration as carried out by Latin American, the most senior of these being the Verdiona Target, the Las Catitas Target and the Yegua Pircada Target.

Within the Tendal Project the Verdiona Target is defined by a distinct surface showing of copper, zinc and lead visible in a surface mineralization length of 2 kilometres and a width of 80 metres (Latin American Press release Feb. 18, 2008), within which several stacked lenses of mineralization occur. Surface diamond saw channel sampling of the Verdiona Target by Latin American has returned values of




Channel Sample Interval (m) Zn (%) Cu (%) Pb (%) Ag (gpt)C-3 5.0 4.64 0.04 1.87 23.20C-4 12.0 6.43 1.04 1.16 111.76including 6.0 8.67 0.70 2.24 16.00c-5 27.0 3.70 0.11 2.95 13.69including 7.5 5.69 0.34 1.75 34.40including 10.0 3.01 0.02 4.63 10.85
- the above results were extracted from a press release of Latin American's released on Feb. 18, 2008 under the supervision of their inhouse "qualified person" Dr. Perez.



The surface zone has not been comprehensively examined below ground. Limited exploration has been carried out elsewhere on the full property. Cadillac intends to conduct immediately a program of surface geological mapping and sampling, as well as geochemical and geophysical surveys to lay the ground work for a diamond drilling program to occur as soon as technically possible.

Under the terms of agreement Cadillac will make a series of escalating cash payments totaling US$300,000, and by spending US$5.0 million on exploration, both over three years as follows:




Cash Option Payments Exploration Expenditures
On signing US$ 25,000
On or before the 1st Anniversary
First Anniversary US$ 50,000 US$ 1.0 million
On or before the 2nd Anniversary
Second Anniversary US$ 75,000 US$ 1.5 million
On or before the 3rd Anniversary
Third Anniversary US$ 150,000 US$ 2.5 million
----------- ---------------
TOTAL US$ 300,000 TOTAL US$ 5.0 million



Cadillac is not obligated to make payments and may terminate at any time. On completion of all payments the joint venture will be Latin American as to 50% and Cadillac as to 50%. The joint venture is formed now, and during exploration and expenditure of Cadillac funds, Cadillac shall be operator and make all decisions regarding exploration.

After the 50%/50% level is completed, non participation will trigger a standard dilution clause. Cadillac shall have a one-time right to earn an additional 10% by taking the project to feasibility, which it must elect within 60 days of the 50%/50% level. If either party's participating interest falls below 15%, such interest will automatically convert to a 3% NSR. The other party shall have a one time right to purchase 1% of the 3% NSR for US$ 1,000,000 and a second 1% of the 3% NSR for US$ 2,000,000. The diluted party shall retain a 1% NSR. At the completion of feasibility and upon a production decision Cadillac will have the one time option to purchase a further 10% interest in the project by paying to LAT US$2.5 million.

The transaction is subject to board approval by both parties, a site visit by Cadillac to be completed with 60 days, and TSX Venture Exchange and other applicable regulatory approval.

About Cadillac

Cadillac is a development focused exploration Company which, in addition to the MATSA Huelva Joint Venture has two Canadian exploration projects, located in regions that have been historically active.

The New Alger project is a wholly owned, previously productive gold mine, located outside of Cadillac, Quebec. The Company has commenced a long term drill program designed to identify the scope of mineralization present on the Company's property along the Cadillac break, and outline new mineralization untouched by the historic, shallow, mining operations.

The Burnt Hill Project is 51% owned by the Company and located outside of Fredericton, New Brunswick. This operation was previously productive with a small scale pilot plant operating onsite recovering tungsten via photometric sorting. In recent drill campaigns the Company has received assay results demonstrating the previously disregarded presence of molybdenum and tin on the property. The objective of the drilling programs is the delineation of a 43-101 compliant reserve and resource, focusing in some part on the areas of historic production, in addition to the mineralization newly demonstrated at depth and along strike. The Company has also added significantly to the land position of this project, encompassing several other surface showing of tungsten, tin and molybdenum.

Latin American Technical Information

Sampling and Analytical Protocols: All of the lithogeochemical samples were collected by geologists taking into account the nature of the material being sampled and with due respect to geologic contacts. The individual sample intervals varied depending on the location but typically ranged from 0.5 to 5.0 metres. Each individual sample weighted between 2 to 5 kilograms and was collected in a plastic bag, tagged with a pre-numbered ticket and tightly closed with plastic tape. The samples were stored in a secured location at the base camp and were transported by Company professional to Alex Stewart Assayers Argentina S.A. ("ASAA") laboratories in Mendoza (Argentina). ASAA is an ISO 9001-certified laboratory with headquarters in England. The samples were crushed, dried, split and grinded to #200 mesh. A total of 200 grams of sample have been separated for analysis. All samples were assayed for gold, multi-elements by ICP and Hg by cold vapor. Gold was done by Fire Assay and AAS using a 50 gram sample. For the multi-elements the samples were dissolved in Aqua Regia at 120ºC and read in ICP-OES. The samples that were above the upper detection limit for Cu, Pb and Zn (1%) for the technique were reanalyzed by dissolving in Aqua Regia again using a larger volume of solution to raise the upper detection limit to 30% for Cu, Pb and Zn. Silver above 200 ppm was re-run by Fire Assay with gravimetric finish. Accuracy of results is tested through the systematic inclusion of certified reference standards.

Forward Looking Statements

This news release may contain certain forward-looking statements under applicable securities laws. All statements, other than statements of historical fact, are forward looking. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "believe", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the risks of obtaining necessary licences and permits and the availability of financing, as described in more detail in the Company's securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and the reader is cautioned against placing undue reliance thereon. Cadillac assumes no obligation to revise or update these forward-looking statements except as required by law. All dollar amounts are in Canadian dollars unless otherwise noted.


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For more information, please contact

Cadillac Ventures Inc.
Norman Brewster
President and Chief Executive Officer
416-203-7722
www.cadillacventures.com

Golden Arrow Reports Poncha Drill Results

Golden Arrow Resources Corporation (GRG -- TSX.V) ("Golden Arrow" or the "Company") wishes to report analytical results for the recently-completed diamond drill program on the Poncha Gold Project in San Juan Province, Argentina. Four drill holes of HQ core totaling 2175m were drilled on 50m step-outs targeting extensions to the mineralized zone intersected by reverse circulation hole RCPC13 (266 metres of 1.2 g/t Au announced on March 27, 2008) within the 2km by 2km South Target epithermal precious-base metal anomaly at the end of the last drill program on the project.

All four of the drill holes completed intersected anomalous gold mineralization in multiple intervals. Anomalous gold mineralization correlates well with elevated silver mineralization and overlaps with more widespread intervals of anomalous zinc mineralization, as has been observed in other drill holes previously completed on the South Target zone. Drill core assays ranged from <0.01 g/t to 6.34 g/t gold, from <0.5 to 57.6 g/t silver and 2 ppm to >10,000 ppm zinc (>1%). Analytical length-weighted average intercept highlights from the drilling program are presented in Table 1, details on each hole are provided in Table 2 and distribution of the drill holes with respect to hole RCPC13 is shown on Figure 1 (www.goldenarrowresources.com).





Table 1: Assay Highlights from 2009 Poncha Drill Program



































































































Collar

Depth (m)

Sample Width (m)

Gold (g/t)

Silver (g/t)

Zinc (%)

from

to

DDH-PC15

71.0

77.0

6.0

1.16

7.6

0.29

DDH-PC15

364.0

381.0

17.0

0.33

1.8

0.00

DDH-PC16

194.0

236.0

42.0

0.37

3.9

0.09

including

221.0

227.0

6.0

1.69

16.5

0.37

DDH-PC17

41.0

64.0

23.0

0.24

4.5

0.05

DDH-PC17

457.0

463.0

6.00

0.81

2.1

0.26

DDH-PC18

181.0

191.0

10.0

0.21

6.5

0.11

DDH-PC18

221.0

223.0

2.0

1.39

1.9

0.26

DDH-PC18

338.0

354.0

16.0

0.17

1.4

0.02



Note: g/t = grams/tonne



The anomalous gold-silver-zinc mineralization that characterizes the South Target was intersected in all four holes completed in the current program. The comparatively higher gold grades and longer mineralized interval intersected in RCPC13 was not picked up in the 50m step-out holes drilled vertically below and along strike from two directions, thereby limiting its potential size and extent.



All holes were cored through sequences of porphyritic dacite volcanic flows cut by widespread hydrothermal brecciation and brittle shearing. The four holes displayed varying degrees of argillic alteration (clay+pyrite) and sphalerite concentrations over most of their length. Pyrite mineralization is generally above 1% in all drill core with wide zones (tens of metres) of brecciation and shearing containing 2-5% pyrite and discrete metre wide intervals of semi-massive (+10%) pyrite. Hole DDH-PC18 intersected fractured and pyrite altered basement phyllite between 557m and 563m. Intervals of elevated gold-silver-zinc mineralization occur in all rock types encountered and do not display a strong correlation with pyrite content or degree of shearing or brecciation. Anomalous gold-silver-zinc mineralization has been detected in all 16 drill holes completed to date in the South Target. The alteration system is very large, covering at least 2km2; to date clear controls on higher-grade zones have not been defined.




Table 2: Drill Hole Information for the 2009 Poncha Drill Program























































Drill Hole



WGS84 E



WGS 84 N



direction



dip



depth



DDH-PC15



2445240



6693137



180



-70



577.5



DDH-PC16



2445197



6693135



180



-70



500.0



DDH-PC17



2445292



6692854



0



-60



499.5



DDH-PC18



2445350



6692700



0



-50



598.0











Total



2175.0







Golden Arrow is earning up to a 100% interest in the Poncha Project from Teck Resources Limited's subsidiary, Teck Argentina Ltd. ("Teck"), by fulfilling expenditure and tenure maintenance requirements subject to Teck's option to re-earn up to a 65% interest in the Poncha property (see News Release dated April 10, 2007). The Poncha property includes the North Target, an outcropping copper gold porphyry system, and South Target (focus of the current drill program). The Company will be evaluating its plans for future work on the Poncha Project over the South American winter.



The Company followed industry standard procedures for the work carried out on the Poncha Project. All core from the program was cut using a diamond saw blade with samples representing 1m intervals being sent for analysis and the remainder retained in core boxes stored at the companies warehouse in Mendoza. Blank, duplicate, and standard samples were inserted into the sample sequence sent to the lab for quality assurance/quality control (QA/QC) purposes. In total, 105 quality control samples (4.8% of all 2148 samples) were analyzed. Golden Arrow detected no significant QA/QC issues during review of the data.



Analyses of the drill core samples were performed by Alex Stewart Assayers, in Mendoza, Argentina, an internationally recognized analytical services provider. The drill program was carried out under the supervision of Bruce Smith, AUSIMM, Golden Arrows Exploration Manager and a Qualified Person as defined by National Instrument 43-101, who prepared the technical information contained in this release. It has been reviewed by Dr. David A. Terry, P.Geo., director and Vice President Exploration for Golden Arrow, and a Qualified Person as defined in National Instrument 43-101.



Golden Arrow's management team is one of the most experienced in the field today. The Company is focused in Argentina and Peru in highly prospective mining regions with several drill ready projects including Portrerillos and Rio de las Taguas, located adjacent to Barrick Gold Corp.'s Pascua Lama project that is moving into production. With the Company's management and technical teams it is well positioned for continued growth.



ON BEHALF OF THE BOARD





"Joseph Grosso"



For further information please contact Joseph Grosso, President & CEO, or Corporate Communications at 1-800-901-0058.



Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.



This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.