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.

31 jul 2009

Coro Announces Management Changes and Provides Update on San Jorge Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 30, 2009) - Coro Mining Corp. ("Coro" or the "Company") (TSX:COP) announces that Mr. Marcelo Cortes, the current Project Manager for San Jorge, will assume the responsibilities of Mr. Juan Carlos Roman, VP of Development, who has resigned effective July 31st 2009, in order to take up a senior management position with a major mining company in Chile. Mr. Cortes is a Chilean civil engineer with an MBA with specialization in Environmental Management, from Liverpool University, in the UK and has 19 years of experience in the mining industry. He was previously Manager Infrastructure for Antofagasta Minerals.

The Company also announces that Mr. Fabian Gregorio has been appointed President of Minera San Jorge (MSJ), its Argentinean subsidiary. Mr. Gregorio is an Argentinean lawyer, based in Mendoza, and has been working as a consultant to the Company for the past three years, responsible for government relations. The Mendoza based Minera San Jorge team includes Julio Cesar Ortiz, an Argentinean lawyer responsible for administration and public communication; Pablo Alonso, an Argentinean environmental engineer, responsible for all environmental aspects and community relationships; and Alejandro Palma, an Argentinean geologist, responsible for project geology.

MSJ has adopted a policy of complete transparency and frankness, has stressed the economic and employment benefits of the project to Argentina, as well as a commitment to exacting industry standards in environmental management, and has invited citizen participation in the environmental monitoring of the operation. The Company has demonstrated its commitment to water conservation through the proposed use of paste tailings, which minimizes water usage through recycling, and have committed to train as many local residents as possible for employment in any future operation at San Jorge.

Alan Stephens, President and CEO, commented, "The appointment of Mr. Fabian Gregorio as President of MSJ further enhances our Argentinean based team and provides us with a greater presence in Mendoza as the project advances. We are confident that the team lead by Marcelo and Fabian will continue to carry the project forward expeditiously and efficiently and look forward to the outcome of the Environmental Impact Study (EIS) approval process over the coming months. This process has several steps, the first of which is a technical evaluation of the Study by the National Technical University on behalf of the government, which is expected to be finalized shortly. This is followed by a ministerial project review, and public meetings, and if the EIS is then approved by the Mendoza government, ratification by the provincial legislature shortly thereafter. A formal public consultation process has commenced, and the Company has opened an office in Uspallata, the nearest town to the project site, to enhance our communications and strengthen our relationship with the local community. Finally, I would like to thank Juan Carlos for all his hard work over the last three years, which has helped to bring San Jorge to the point where the approval process for the EIS is so well advanced, and we wish him well in his new position."

CORO MINING CORP.

Alan Stephens, President and CEO

About Coro Mining Corp.:

The Company was founded with the goal of building a mining company focused on medium-sized base and precious metals deposits in Latin America. The Company intends to achieve this through the exploration for, and acquisition of, projects that can be developed and placed into production and it has established an experienced development and exploration team to accomplish this. Coro's core property is the advanced San Jorge copper-gold project, in Argentina, and the Company holds other earlier stage exploration properties located in Chile.

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Such forward-looking statements or information, including but not limited to those with respect to the prices of copper, estimated future production, estimated costs of future production, permitting time lines, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such factors include, among others, the actual prices of copper, the factual results of current exploration, development and mining activities, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company's documents filed from time to time with the securities regulators in the Provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, New Brunswick, Nova Scotia, Prince Edward Island and Newfoundland and Labrador.

For more information on Mining in Argentina, visit our website: http://www.argentinamining.com/

Silver Standard Resources Inc.: Pirquitas Makes First Silver Concentrate Shipment, Second Quarter 2009 Results and Conference Call

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 07/31/09 -- Silver Standard Resources Inc. (TSX: SSO)(NASDAQ: SSRI) is pleased to report that the wholly-owned Pirquitas Mine has made its first shipment of silver concentrate. A further update on progress at the mine, located in the province of Jujuy in Argentina, is planned in conjunction with the release of the company's Second Quarter 2009 financial results on Thursday, August 6, 2009.

A conference call with management to review Second Quarter 2009 financial results, Pirquitas and other project activities is scheduled on Friday, August 7, 2009 at 11:00 a.m. EDT.

Toll-free in North America: (877) 545-1491

All other calls: (719) 325-4847

This call will also be web-cast and can be accessed at the following web location:

http://ir.silverstandard.com/presentations.cfm.

The call will be archived and available at www.silverstandard.com after August 7, 2009.

Audio replay will be available for one week by calling:

Toll-free in North America: (888) 203-1112, replay passcode 6056624.

Overseas callers may dial: (719) 457-0820, replay passcode 6056624.

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.

For more information on Mining in Argentina, visit our website: http://www.argentinamining.com/

30 jul 2009

New Longhole Drilling Doubles the Length of La Mancha's Hassai Pit VMS Lens to 700 Meters

MONTREAL, QUEBEC--(Marketwire - July 29, 2009) - La Mancha Resources Inc. (TSX:LMA)

HIGHLIGHTS:

- A 700-meter longhole recently completed at the Hassai pit suggests that the volcanogenic massive sulphide (VMS) lens under the pit is twice as long as initially thought.

- 36 meters of massive and strongly disseminated sulphides were intersected from 626 m with visible signs of chalcopyrite.

- La Mancha confirms that the initial 43-101 resource estimate for the VMS should be completed and released by the end of August 2009.

La Mancha Resources Inc. (TSX:LMA, hereinafter "La Mancha" or "the Company") is pleased to report that a longhole drilled from the southern edge of the Hassai pit at its Hassai property in Northeast Sudan has intersected 36 meters (apparent width, corresponding to a true width of about 20 meters) of massive and strongly disseminated sulphides at 600 meters down dip from the existing pit. This news is material to the rapid unfolding of La Mancha's VMS project in Sudan as a) it suggests that the previously-discovered VMS lens, which starts at the bottom of Hassai pit, might be at least twice as long as originally established in December 2008 (up to 700 meters) (see Figure 1 for details, available at the following address: http://media3.marketwire.com/docs/mancha_fig1.pdf), and b) the drill intersection seems to contain visible signs of chalcopyrite, often associated with a high copper content. Laboratory assay results should be available in 6 to 8 weeks.

Michel Cuilhe, President and CEO of La Mancha, stated: "Our April 2009 size estimate of 60 million tonnes for the Hassai VMS conceptual deposits may need to be revised upward significantly if the assay results for this hole confirm that the lens extends over a length of 700 meters rather than our initial approximation of 350 meters. We are delighted by this hole, as it makes an already promising project look even better."

Although the results of this recent hole will not be included in the preliminary 43-101 resource estimate to be issued by the end of August 2009, the Company remains confident that the initial resource will meet the previously-stated 60 million tonne forecast.

NEXT STEPS

As mentioned above, the calculation of the Hassai pit resource is well advanced and the Company expects to release the results by the end of August. The 43-101 resource estimate for the second VMS target on the property, Hadal Awatib, should follow soon after. Preliminary metallurgical test-work is also underway and should be available within the next few weeks. Management will use all these results in a scoping study assessing the Hassai property's VMS economic value. The Company expects this scoping study to be made public by the end of September 2009.

The Hassai property's VMS conceptual estimate of potential tonnes and grade to date have insufficient exploration to define a mineral resource compliant with National Instrument 43-101. It is uncertain whether further exploration will result in the target deposit being delineated as a mineral resource. The estimate used the current geological interpretation of the lens with the intersections of copper and gold mineralization from the 12 new holes drilled to date and 7 previously-drilled holes at the Hassai pit and 8 new holes drilled to date and 7 previously-drilled holes at the Hadal Awatib pit. The estimate excludes copper and gold values outside the interpreted zones and all lead, zinc and silver values, and does not take into account possible enrichment from the upper part of the lenses, mainly below the west pit of Hadal Awatib. The estimate also excludes dilution and recovery.

TECHNICAL NOTE

The technical information in this news release was prepared under the supervision of Jean-Jacques Kachrillo and Martin Bennett (MAIG), who are both Qualified Persons under NI 43-101. Mr. Kachrillo is the Vice President Exploration and a full time employee of La Mancha Resources. He has sufficient experience in the style of mineralization and type of deposit to qualify as a Qualified Person as defined in "National Instruments 43-101, Standards of Disclosure for Mineral Projects". Based on his information, Mr. Kachrillo has consented to the content of this press release in the form and context in which it appears. Mr. Kachrillo has read National Instrument 43-101 and has ensured that this press release has been written in compliance with that instrument. Mr. Bennett is the Exploration Manager for the Company's Sudanese property and a full time employee of La Mancha Resources. He has sufficient experience which is relevant to the style of mineralization and type of deposit to qualify as a Competent Person as defined in the 2004 Edition of the "Australasian Code of Exploration Results, Minerals Resources and Ore Reserves". Mr. Bennett has read National Instrument 43-101 and has ensured that this press release has been written in compliance with that instrument.

The analysis of these recent samples met with all of La Mancha established Analytical Quality Assurance Program put in place to control and assure the analytical quality of assays in its gold exploration. This program includes the systematic addition of blank samples, pulp duplicates and internal material references ("standards") to each batch of samples sent for analysis. Blank samples are used to check for possible contamination in laboratory, duplicates allow the overall precision to be quantified while standards determine the analytical accuracy. All samples are half HQ or NQ diamond drill core sampled on a one metre basis. Samples were assayed at the Intertek laboratory in Indonesia qualified ISO 17025 using respectively for gold fire assays on 30g sample followed by AAS and for base metals triple acidic digestion followed by AAS. The average true widths are more than 75% of the intersection length.

ABOUT THE HASSAI MINE

The Hassai mine is located in the Red Sea Hills desert of northeastern Sudan, some 450 km from Khartoum. Inaugurated in 1992, it is Sudan's first and only gold mine in production. Twelve pits have been mined over the years, generating a cumulative production of more than 2 million ounces of gold. La Mancha owns 40% of the mine through a subsidiary and is the mine manager.

La Mancha decided to initiate an exploration program entirely devoted to the VMS potential of its 40%-owned Hassai mine in December 2007 on the basis of historical results of drilling by BRGM in the 1980s and 1990s. The objective of the first phase of the program was to test the potential of two of the six most prospective VMS lenses identified at the bottom of the previously-mined pits, i.e., Hassai and Hadal Awatib.

ABOUT LA MANCHA RESOURCES Inc.:

La Mancha Resources Inc. is an international gold producer based in Canada with operations, development projects and exploration activities in Africa, Australia and Argentina. La Mancha's shares trade on the Toronto Stock Exchange (TSX) under the symbol "LMA". For more information, visit the Company's website at www.lamancha.ca.

ABOUT AGORACOM:

For all La Mancha investor relations needs, investors are asked to visit the La Mancha IR Hub at http://www.agoracom.com/IR/lamancha where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to lma@agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and updates in real time.

For more information on Mining in Argentina, visit our website: http://www.argentinamining.com/

Exeter Reports on 14 New Drill Holes at Cerro Moro

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 29, 2009) - Exeter Resource Corporation (TSX VENTURE:XRC)(NYSE Amex:XRA)(FRANKFURT:EXB) ("Exeter" or the "Company") is pleased to report on progress from its in-fill drilling program on the high grade Escondida vein at Cerro Moro in Santa Cruz Province, Argentina.

Assays from a batch of 14 diamond drill holes on the Escondida vein include bonanza grades in drill holes MD475 and MD479, two holes that represent extensions to reported high grade mineralization in the Escondida Far West sector. This portion of the Escondida vein accounts for approximately 40% of the currently defined Escondida Zone resource.

Detailed drilling results using a 1 g/t gold equivalent(i) cut-off grade:
---------------------------------------------------------------------------
Gold Gold
From To Width Gold Silver Equivalents Equivalents
Drill Hole (m) (m) (m) (g/t) (g/t) (i)(g/t) (i)(oz/ton)
---------------------------------------------------------------------------
Escondida West Sector
---------------------------------------------------------------------------
MD467 165.60 166.94 1.34 11.1 384 16.5 0.48
---------------------------------------------------------------------------
including 166.06 166.59 0.53 26.0 880 38.6 1.12
---------------------------------------------------------------------------
Escondida Far West Sector
---------------------------------------------------------------------------
MD468 62.00 64.60 2.60 13.6 675 23.2 0.67
---------------------------------------------------------------------------
including 62.80 64.00 1.20 26.1 1,221 43.6 1.26
---------------------------------------------------------------------------
MD469 122.60 129.12 6.52 6.6 310 11.1 0.32
---------------------------------------------------------------------------
including 125.86 128.36 2.50 14.9 694 24.9 0.72
---------------------------------------------------------------------------
MD471 203.87 204.23 0.36 6.2 18 6.5 0.19
---------------------------------------------------------------------------
and 205.91 206.58 0.67 8.5 1,303 27.1 0.79
---------------------------------------------------------------------------
MD474 131.00 133.10 2.10 5.1 562 13.1 0.38
---------------------------------------------------------------------------
including 131.00 131.65 0.65 14.0 1,653 37.6 1.09
---------------------------------------------------------------------------
MD475 138.75 140.25 1.50 63.3 5,111 136.3 3.95
---------------------------------------------------------------------------
including 139.36 139.80 0.44 138.0 8,085 253.5 7.35
---------------------------------------------------------------------------
MD476 149.65 151.80 2.15 4.1 324 8.7 0.25
---------------------------------------------------------------------------
including 149.65 150.20 0.55 8.6 532 16.2 0.47
---------------------------------------------------------------------------
MD479 114.00 115.35 1.35 5.8 562 13.8 0.40
---------------------------------------------------------------------------
and 117.95 119.15 1.20 138.9 4,978 210.0 6.09
---------------------------------------------------------------------------
including 117.95 118.60 0.65 203.9 8,432 324.4 9.41
---------------------------------------------------------------------------
MD480 194.85 195.15 0.30 4.0 405 9.7 0.28
---------------------------------------------------------------------------
MD481 176.40 180.00 3.60 5.5 581 13.8 0.40
---------------------------------------------------------------------------
including 177.63 178.25 0.62 26.3 2,840 66.9 1.94
---------------------------------------------------------------------------
including 177.93 178.25 0.32 47.1 5,382 124.0 3.60
---------------------------------------------------------------------------
MD483 232.00 233.00 1.00 6.8 83 8.0 0.23
---------------------------------------------------------------------------
and 238.20 239.08 0.88 5.9 21 6.2 0.18
---------------------------------------------------------------------------
MD484 159.34 160.54 1.20 3.2 88 4.5 0.13
---------------------------------------------------------------------------
MD487 21.00 22.30 1.30 2.1 68 3.0 0.09
---------------------------------------------------------------------------
MD489 10.45 11.80 1.35 5.6 8 5.7 0.17
---------------------------------------------------------------------------


(i) Gold equivalent grade is calculated by dividing the silver assay result
by 70, adding it to the gold value and assuming 100% metallurgical
recovery.





Exeter recently announced an initial inferred mineral resource estimate of 646,000 ounces gold equivalent(ii) at a grade of 18 grams per tonne ("g/t") (0.52 ounces per ton ("oz/ton") gold equivalent(ii). The current focus is to advance drilling on the Escondida vein zone, which contains 519,000 ounces gold equivalent(ii) at a grade of 34 g/t (1.0 oz/ton) gold equivalent(ii). In particular, the Company expects that the program will generate the data necessary to upgrade the recently announced "inferred resource" to an "indicated resource" by Q1, 2010. This is an essential step towards completing a scoping study for developing a high grade mining operation on the property.

In the Far West sector of the Escondida vein, the Company has drilled a total of 24 diamond core holes to confirm the exceptional grades previously announced in that sector. Of the 14 drill holes announced in this news release, 13 are from that sector and are represented on the following longitudinal drill section.

Click here for a diagram showing the Long Section for Escondida Far West: http://www.exeterresource.com/images/gallery/plans/Plan_78.pdf

Drill hole MD467, on the West sector, successfully intersected high grade mineralization 140 metres ("m") (459 ft) vertically below surface, thereby demonstrating the potential for deeper high grades in that area.

Results are awaited from infill drilling on the West, Central and East sectors of the Escondida vein, where an additional 95 diamond drill holes for approximately 4,800 m (15,744 ft) are being logged and assayed. The majority of these holes are shallow and represent an approximate 20 x 20 m (65 x 65 ft) "staggered" pattern to assist with preliminary mine scoping models. Significant results will be released during August and September as the assays are collated and verified.

Click here for a diagram showing the Drill Hole Plan for Escondida: http://www.exeterresource.com/images/gallery/plans/Plan_79.pdf

Progress on the Escondida Fomicruz Property

Due to a delay in the arrival of a reverse circulation percussion (RC) rig the Company used the available diamond rig to conduct a 300 m (984 ft) program to confirm that the prospective Escondida structure extends onto the Fomicruz joint venture property. The rig was sited well into the Fomicruz lands, some 320 m (1,050 ft) northwest of the last hole drilled by Exeter at Escondida Far West. The Escondida structure was successfully located under 40 m of gravel cover, confirming our geophysical interpretation that the Escondida structure has an untested strike length of some 2.3 kilometres (1.43 miles) on the Fomicruz property (a distance similar to that drill tested to date at Escondida).

The Company has contracted a RC drill rig to drill a minimum of 15 holes (2,000 m (6,560 ft) program) on the Fomicruz lands. This program is scheduled to commence early next month with initial results to follow in September.

Quality Control and Assurance

Drill widths presented above are drill intersection widths and may not represent the true widths of mineralization.

Gold assay results presented above are preliminary and have been calculated using a 1.0 g/t gold equivalent cut-off grade(i), with no cutting of high grades. All diamond drill core samples are split on regular metre intervals or on geological contacts and represent sawn half HQ-size core. Samples were prepared at the Acme Analytical Laboratories ("AcmeLabs") preparation facility in Mendoza, Argentina and assayed by fire assay (50 gram charge) at the AcmeLabs laboratory in Chile, both ISO-9001:2000 certified laboratories.

Check assaying of all samples assaying greater than 1.0 g/t gold is completed by AcmeLabs. Samples returning greater than 10 g/t gold and/or greater than 100 g/t silver are assayed using gravimetric analyses. Standard and blank samples are used throughout the sample sequence as checks for the diamond drilling reported in this release. Standard, blank and duplicate samples are used throughout the sample sequence as checks for the RC percussion drilling.

Assaying by the screen fire assay method has been implemented in conjunction with standard 50 gram fire assaying, for diamond drill cores that contain visible gold. The procedure for screen fire assaying involves crushing and sieving of a nominal 1,000 gram sample to a particle size of 100 microns. All material which does not pass through the 100 micron sieve is then assayed. Two fire assays are undertaken on the undersize material as a check on homogeneity. The total gold content is then calculated.

Matthew Williams, Exeter's Exploration Manager and a "qualified person" within the definition of that term in National Instrument 43-101, Standards of Disclosure for Mineral Projects, has supervised the preparation of the technical information contained in this news release.

About Exeter

Exeter Resource Corporation is a Canadian mineral exploration company focused on the discovery and development of gold and silver properties in South America. The Company has C$30 million in its treasury.

The Caspiche gold-copper discovery(iii) is situated in the Maricunga gold district of Chile, between the Refugio mine (Kinross Gold Corp.) and the giant Cerro Casale gold deposit (Barrick Gold Corp. and Kinross Gold Corp.). Over 16,500 m were drilled during the 2008/2009 drill season. The program focussed on delineating the external boundaries of Caspiche. A second National Instrument 43-101 compliant resource estimate, which incorporates the results from drilling completed subsequent to December 31, 2008, is expected to be available in September 2009.

On its Cerro Moro Project in Argentina, Exeter recently announced an initial inferred mineral resource estimate of 646,000 ounces gold equivalent(ii) at a grade of 18 g/t gold equivalent(ii). To date, Exeter has drilled over 100 infill holes on the Escondida vein structure in order to upgrade the sectors of the inferred resource that might be scheduled for early mining. Drilling will continue through 2009. Plans include drilling of a possible extension of the Escondida zone on the adjacent Fomicruz joint venture property. Engineering, environmental and infrastructure studies are being advanced ahead of a scoping study in 2010.

No site work is planned on the Don Sixto gold-silver project in Argentina over the next quarter. The Company will continue to work with provincial authorities and with representatives of other mining companies, to effect amendment to the 2007 legislation that banned the use of cyanide in mining operations in Mendoza Province.



(ii) Inferred mineral resource estimate of 1,098,000 metric tons containing 371,000 ounces gold at a grade of 10.5 g/t and 19.2 million ounces silver at a grade of 545 g/t for 646,000 ounces gold equivalent at a grade of 18 g/t gold equivalent. Gold equivalent is calculated by dividing the silver assay result by 70, adding it to the gold value and assuming 100% metallurgical recovery (see news release NR 09-14 dated July 8, 2009).(iii) Inferred mineral resource estimate of 449.9 million tonnes from the oxide and gold-copper zone contains 8.7 million ounces gold at a grade of 0.6 g/t and 375.9 million tonnes from the gold-copper zone only contains 2 billion pounds of copper at a grade of 0.25% (see news release NR 09-09 dated March 24, 2009).



You are invited to visit the Exeter web site at www.exeterresource.com.

EXETER RESOURCE CORPORATION

Bryce Roxburgh, President and CEO

For more information on Mining in Argentina, visit our website: http://www.argentinamining.com/

29 jul 2009

San José mine reserves increased by 8% in contained silver and 16% in contained gold between June 30, 2008 and December 31, 2008

SPOKANE, WA, July 29 /CNW/ - Minera Andes Inc. (TSX: MAI and US OTC:
MNEAF) is pleased to announce the results of an independent NI 43-101
Technical Report that includes a review of the mineral resource and reserve
estimates as of December 31, 2008 at the San José mine in Santa Cruz province,
southern Argentina. Compared to the June 30, 2008 estimate as reported by the
Corporation on June 5, 2009, the contained silver in the proven and probable
mineral reserves increased by 8% and the contained gold increased 16%. Gold
and silver ounces at the mine increased compared with those reported in the
previous technical report because the grades of the mineral reserves
increased, primarily due to the utilization of higher metal prices and a
higher cut-off value reflecting actual cost experience, as well as the
addition of mineral reserves through exploration.
The Technical Report entitled "Technical Report on the San José
Silver-Gold Mine, Santa Cruz, Argentina", was prepared by P&E Mining
Consultants Inc. ("P&E") and authored by Mr. Eugene Puritch, P.Eng. Mr. Al
Hayden, P.Eng., Mr. James L. Pearson, P.Eng., Mr. Antoine Yassa, P.Geo, Mr.
Fred H. Brown, MSc(Eng) CPG PrSCiNat, and Ms. Kirstine Malloch, MAusIMM, all
of whom are qualified persons for the purposes of NI 43-101.

Mineral Resources

The December 31, 2008 San José mineral resource and mineral reserve
estimates disclosed herein are based on work from our joint venture partner
that was audited and adjusted by independent qualified persons James L.
Pearson, P.Eng., Mr. Eugene Puritch, P.Eng. and Mr. Fred H. Brown, MSc(Eng)
CPG PrSCiNat of P&E. The mineral resources and reserves remain open along
strike and at depth in some areas.
P&E used a gold price of US$800 per ounce (oz) and a silver price of
US$12.00 per oz for estimating mineral resources and reserves, which reflect
the price levels at the end of 2008. The average Life of Mine cash operating
costs are estimated at US$106.51/tonne (t) of ore processed, or
US$4.16/equivalent ounce of silver. The Corporation's 49% attributable share
of the base case Net Present Value (NPV), using long-term metal price
estimations of US$900 per ounce of gold and US$13.00 per ounce of silver and a
discount rate of 7%, is US$103.4 million. On an undiscounted basis, the
Corporation's share is US$116.3 million.
At December 31, 2008 total Measured and Indicated Mineral Resources at
the San José Mine were 575,000 ounces of gold and 38.0 million ounces of
silver, contained in 2,240,300 tonnes grading 7.98 grams/tonne (g/t) gold and
527 g/t silver, or 72.5 million ounces of silver on a silver equivalent basis
(see table below). An additional 191,000 ounces of gold and 11.3 million
ounces of silver, contained in 1,049,900 tonnes, grading 5.66 g/t gold and 334
g/t silver are classified as Inferred Resources. A marginal cutoff grade of
240 g/t of silver equivalent, representing the variable operating cost, was
used to estimate the mineral resources (using a price of US$800/oz for gold
and US$12.00/oz for silver).


The San José mineral resource estimate is based on 507 surface and
underground drill holes and 6,640 channel samples. Channel samples were taken
from underground operations at Huevos Verdes Sur, Frea, and Kospi.
The resource models were developed using industry-accepted methods. P&E
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 December 31, 2008 the Proven and Probable Mineral Reserves, based on
an overall economic cutoff value of US$126.47/t (using a price of US$800/oz
for gold and US$12.00/oz for silver), are 1,626,000 tonnes at 523 g/t silver
and 7.89 g/t gold, containing 27,323,000 ounces of silver and 412,000 ounces
of gold. The mineral reserves also take into account marginal blocks of ore
located within or on the periphery of higher grade zones. The marginal cutoff
for these blocks was US$60.84/t. The marginal cutoff was defined by the value
of ore that meets the variable costs, but not the fixed costs.

The increase in the silver and gold content of the mineral reserves from
June 2008 to December 2008 is due to the utilization of higher metal prices
and a higher cut-off value as well as the addition of mineral reserves through
exploration, which overall has had a positive impact on both silver and gold
grades as well as the metal contained in the mineral reserves. At the current
mill capacity of 1,500 tonnes per day, the reserves have a life of 3.1 years.
The following table provides a reconciliation of the December 2008
mineral reserves to the June 2008 mineral reserves taking production during
the period into account. The percentage gain is calculated by dividing the
depleted mineral reserve tonnes and ounces as of December 31, 2008 by the
amount gained. The amount gained is the mineral reserve reported on December
31, 2008 less the depleted mineral reserve resulting from production.


The following summarizes the key assumptions, parameters and methods used
in the mineral resource and mineral reserve estimates:

- Drillhole assay values and channel samples were combined for mineral
resource estimation;
- Bulk density values used for the estimate are 2.60 tonnes per cubic
meter (t/m(3)) for Huevos Verdes Sur, 2.60 t/m(3) for Frea, and
2.60 t/m(3) for Kospi;
- Assays values manually identified as ore-grade were composited to
length-weighted composite samples;
- Prior to block estimation, gold composite samples were cut to 150 g/t
at Huevos Verdes Sur, 70 g/t at Frea and 40 g/t at Kospi. Silver
assays were cut to 10,000 g/t at Huevos Verdes Sur, 4,200 g/t at
Frea, and 4,400 g/t at Kospi;
- Estimation was done using oriented search ellipses and Ordinary
Kriging where sufficient resolution was available for variography, or
by Inverse Distance Cubed weighting of composite values where the
resolution was poor;
- Mineral resource estimation was confined to areas considered to have
a reasonable degree of geological confidence.
- The mineral reserve cut-off value ("COV") is based on historical
January to October 2008 geologic, mining, plant and mine
administration variable and fixed costs, and November and December
2008 estimated costs. Economic Cut-off Values ("ECOV") were estimated
using both variable and fixed costs and Marginal Cut-off Values
("MCOV") were estimated using variable costs only. The mineral
reserve estimate is primarily based on the ECOV. Ore with a grade
above the MCOV and less than the ECOV are included in the mineral
reserve estimate if it was necessary to develop through them in order
to access ore grades above the ECOV. A total of 84% of reserves are
at or above the ECOV and 16% of mineral reserves are between the ECOV
and the MCOV. The ECOV and the MCOV are US$126.47/t and US$60.84/t,
respectively.
- The economic and marginal cut-offs used to estimate mineral reserves
are 499 g/t Au and 240 g/t Ag Equivalent, respectively.
- Mineral reserves are estimated to a minimum 0.8 meter (m) mining
thickness. This adds 1.2% to the initial measured and indicated
mineral resources used to estimate mineral reserves.
- Within the boundaries of this 0.8 m minimum thickness there is some
material that contains combined Ag and Au grade values below the MCOV
cut-off value that must be mined. This material is referred to as
planned internal dilution. Planned internal dilution is estimated to
be 4.4 %, 0.6 % and 0.6 % by tonnes, contained Ag and contained Au,
respectively.
- Mine recovery is estimated based on the mine plan and design. Mine
recovery losses includes pillars not recovered, losses due to bad
ground and blasted ore left in stopes. Of the initial measured and
indicated mineral resources used to estimate mineral reserves an
estimated 24.6% of these mineral resources will not be recovered.
- Planned external dilution is estimated, based on the mine plan and
design. This planned external dilution is estimated based on
historical reconciliation data gathered, including excavation
surveys, and includes slough and blasted waste rock from both the
hanging and footwalls, mined backfill and blasted waste sent to the
mill. Planned external dilution is estimated to be 13.2%.

A technical report, prepared in accordance with NI 43-101 will be filed
on SEDAR (www.sedar.com) shortly.
This news release was prepared under the supervision of Brian Gavin, CPG,
Vice President Exploration of Minera Andes, a "qualified person" within the
meaning of NI 43-101. For (i) the mineral 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 to be filed as noted
above.

Minera Andes is a gold, silver and copper exploration company with a 49%
interest in the San José silver-gold mine in Santa Cruz, Argentina. The San
José mine is owned by Minera Santa Cruz S.A. ("MSC"), which in turn is owned
49% by Minera Andes and 51% by Hochschild Mining plc. Hochschild is the
operator of the San José mine. The Corporation also owns the Los Azules copper
project in San Juan province, where a scoping study has been completed and the
Corporation is awaiting a decision by its joint venture partner, Xstrata
Copper Company, if it will exercise its right to back into a 51% ownership of
the project. Also, in addition to the San José mine and the Los Azules
project, the Corporation holds or has an interest in approximately 304,000
acres of mineral exploration land in those areas. The Corporation presently
has 230,688,851 shares issued and outstanding.

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 Mine. 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.

For more information on Mining in Argentina, visit our website: http://www.argentinamining.com/

Oromin Explorations Ltd.: Santa Rosa, Argentina Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 28, 2009) - Oromin Explorations Ltd. ("Oromin") (TSX:OLE)(OTCBB:OLEPF) through the Argentina subsidiary, Exploraciones Oromin S.A. ("Oromin") reports that on July 26, 2009, exploration well OLE.MD.SRE X-2001 reached a total depth of 1,270 metres in basement.

Initial electric logging and subsequent MRIL (magnetic resonance imaging) evaluation completed late July 27, 2009 confirms that the well has not encountered hydrocarbons. The results suggest that the target reservoir zones are not present at this crestal well location.

The interest holders of the Santa Rosa license (indirectly Oromin as to 67.52% and Australian Otto Energy Limited as to 32.48%) will now study the well data and incorporate this in a regional data base to determine whether potential stratigraphic traps on the western flank of the Santa Rosa dome warrant further investigation.

The well will be plugged and abandoned as a dry hole.

A National Instrument 51-101 compliant technical report on this prospect was filed on SEDAR on July 9, 2008 and is available at www.sedar.com.

Norman Haimila, Ph.D., petroleum consultant and Oromin's Country Manager, is the Company's "qualified evaluator" for the purposes of National Instrument 51-101 and has verified the data disclosed in this news release. Dr. Haimila is a member of the American Institute of Petroleum Geology and the American Association of Petroleum Geologists.

To find out more about Oromin Explorations Ltd., visit www.oromin.com.

On behalf of the Board of Directors of OROMIN EXPLORATIONS LTD.

Chet Idziszek, President

For more information on Mining in Argentina, visit our website: http://www.argentinamining.com

28 jul 2009

TNR Gold Corp. Commences Work on Canadian Lithium & Rare Metal Properties

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 27, 2009) - TNR Gold Corp. ("TNR" or the "Company") (TSX VENTURE:TNR) is pleased to announce that exploration work has commenced on its 100%-owned lithium and rare metals properties, Niemi Lake, Forgan Lake, & Mavis Lake, all of which are located in Ontario, Canada.

The exploration program will focus on sampling of the known pegmatite occurrences and obtaining historic grade confirmation of both lithium and other Rare Metals.

The exploration program is being directed by Dr. Fred Breaks, a special advisor to the TNR Board. Dr. Breaks is a Ph.D. and Professional Geoscientist who is well known as a Lithium and Rare Metals expert in Canada. A proven explorer, he discovered two significant lithium-rich deposits: Avalon Venture Ltd.'s Big Whopper pegmatite near Kenora, Ontario and Houston Lake Mining Inc.'s Pakeagama Lake pegmatite in the North Spirit Lake area of Northwestern Ontario. His ability to create exploration models of lithium-rich, pegmatite deposits was developed during his career at Ontario Geological Survey where he authored and coauthored over 120 peer-reviewed scientific papers.

ABOUT FORGAN & NIEMI LAKE

The Forgan and Niemi Lake projects are located east of Forgan Lake within the Thunder Bay District of Ontario. Forgan Lake has four previously explored spodumene-bearing pegmatites yielding positive results such as 4.23% Li2O over 7.5 m and and two samples 68.6 m farther southwest averaging 1.98% Li2O over 7.6 m.

Furthermore, all identified pegmatites have not been fully delineated at Forgan Lake and thus the extent of the deposits remains open. All identified historic work preformed by Lun-Echo Gold Mines Ltd. analyzed drill core exclusively for Li2O.

Historic drilling on the Niemi project, also undertaken by Lun-Echo Gold Mines Limited, returned values of 4.72 m of 1.02% Li2O and 1.52 m of 2.0% Li2O.

ABOUT MAVIS LAKE

The Mavis Lake Project covers the eastern extent of the Mavis Lake pegmatite group, encompassing nine identified rare-element-bearing pegmatites within a 512 hectare claim block. Located only 15km northeast from Dryden Ontario, Mavis is workable year round with excellent infrastructures. Historical lithium and tantalum values at the Mavis Lake property include 2,320 ppm of Li2O and 170 ppm of Tantalum over 1.3 metres.

Tantalum is a rare metal with diverse applications across several industries - capacitors in portable devices such as cell phones, computers, micro-sensors, precision laboratory gear, surgical equipments, camera lenses, and more. The corrosion-resistant, hard, and blue-gray metal is estimated to comprise 1-2ppm of the Earth's crust and is mainly produced by Australia (Talison Minerals Corp.), China, and Ethiopia with Canada and Brazil adding to output as a by-product from niobium mining.

The results from the initial property evaluation will allow TNR to prioritize the development of its large portfolio of lithium and rare earth projects.

Ike Osmani, P.Geo, is the company's qualified person on the project as required under NI 43-101 and has reviewed the technical information contained in this press release.

To help understand the technical aspects of Lithium and Rare Metals please visit TNR's website at www.tnrgoldcorp.com.

ABOUT TNR GOLD

TNR is a diversified metals exploration company focused on identifying and exploring existing properties in Argentina and Alaska and new prospective projects globally. Upon approval of pending licences in Ireland, TNR will have a total portfolio of 32 properties, of which 16 will be included in the proposed spin-off of International Lithium Corp.

In addition to shareholder's current share of TNR, they will receive one share and one full tradable warrant of International Lithium Corp. for every 4 shares of TNR held as of the yet determined record date. This will result in TNR shareholders owning shares in both TNR and International Lithium. For further details of the spin-off please refer to TNR's April 27, 2009 news release or visit http://www.internationallithium.com.

The recent acquisition of lithium projects in Argentina, Canada, USA and Ireland confirms the Company's commitment to project generation, market diversity and building shareholder value.

On behalf of the board,

Gary Schellenberg, President

Statements in this press release other than purely historical information, historical estimates should not be relied upon, including statements relating to the Company's future plans and objectives or expected results, are forward-looking statements. News release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

For more information on Mining in Argentina, visit our website: http://www.argentinamining.com/

24 jul 2009

Mirasol reports high grade silver from the La Negra zone at Joaquin

VANCOUVER, July 23 /CNW/ - Mirasol Resources Ltd. (TSX-V: MRZ, Frankfurt:
M8R) is pleased to announce results from the second phase of drilling from the
La Negra zone at the Joaquin Project. These results continue to build on the
encouraging silver assays recently reported (July 13, 2009) from Mirasol's
Morocha prospect located 1.5 km (see Figure 1
http://www.mirasolresources.com/i/pdf/NR_090723_Fig_1.jpg) to the west of La
Negra and previously released drill results from La Negra itself (April 27,
2009). Best true width intersections from the present round of drilling
include a zone of 7.45 metres grading 703.8 grams per tonne (g/t) silver
within a broader zone of 48.2 metres grading 194.4 g/t silver.
The 100% Mirasol owned Joaquin project contains four precious metal
prospects including the silver-rich La Morocha and La Negra zones. Joaquin is
located in the province of Santa Cruz, southern Argentina, which is host to
four operating precious metal mines. Exploration at Joaquin is being funded
and operated by Mirasol's joint venture partner Coeur d'Alene Mines
Corporation ("Coeur") who can earn an initial 51% interest and up to 71% in
Joaquin by meeting certain obligations (see news release of November 20,
2006). Coeur operates the high grade Martha silver mine located 80 km to the
south of the Joaquin project.
Coeur recently completed a second phase diamond drill program at Joaquin,
including eight core holes (DDJ-31 - 38) totalling 1,095.9 metres at La Negra
(Table 1). All holes intersected silver dominant mineralization with lesser
gold values. Results include multiple individual assays over 1,000 g/t silver
and gold assays up to 6.37 g/t. Best true width intersections at a 30 g/t
silver cut off from this round of drilling were returned from DDJ-38. These
results include of 7.45 metres of 703.8 g/t silver and 0.13 g/t gold, and
15.96 metres of 200 g/t silver and 0.08 g/t gold.
Preliminary interpretations suggest up to three parallel zones of
mineralization have been intersected to date at La Negra. These appear to be
sub-vertical or dip at up to 70 degrees to the northeast. In hole DDJ-38 it
appears that the three parallel zones of mineralization tend to merge with the
intervening rock mineralization commonly grading 20 - 30 g/t Ag. The average
grade of the full mineralized intercept, including intervening wall rock has a
true width of 48.2 metres of 194.4 g/t silver and 0.08 g/t gold. The
gram-metre product of the combined three zones is the highest of any holes
drilled to date at either La Negra or La Morocha and a result which compares
favourably with other known bulk tonnage silver deposits.
At La Negra, silver and gold mineralization values correspond to banded
grey silica veins, that typically contain the higher (greater than or equal to
1 ppm) gold, and clay-barite-silica zones that may be brecciated with iron and
manganese oxides, and host high-grade, silver dominant mineralization. Core
recovery through vuggy vein zones maybe reduced, as the veins can break up
during drilling.
The La Negra zone has now been tested by 11 drill holes over a strike
length of approximately 500 metres and up to 110 metres below surface (130
metres down dip) (Figure 2
http://www.mirasolresources.com/i/pdf/NR_090723_Fig_2.jpg). All holes have
intersected potentially significant zones of silver and gold mineralization
that remain open at depth. Importantly, DDJ-38 represents a 200 metre step out
under cover, demonstrating that mineralization is open to the northwest and
shows high grade silver associated with a subtle style of mineralization.

Table 1. La Negra Zone Phases 1 and 2 Drill Results
-------------------------------------------------------------------------
Est. Est.
True Core
Interval Width Ag Au Ag Eq. Recv.
Hole ID From To (m) (m) g/t g/t g/t (%)
-------------------------------------------------------------------------
Phase 2 Drilling
-------------------------------------------------------------------------
DDJ-31 55.5 68.5 13.00 8.82 338.0 0.13 345.5 95
-------------------------------------------------------------------------
DDJ-31 74.5 85.6 11.05 7.49 89.3 0.20 101.6 95
-------------------------------------------------------------------------
Includes 79.0 85.6 6.55 4.44 106.9 0.29 124.3 95
-------------------------------------------------------------------------
DDJ-31 93.6 99.2 5.60 3.80 77.4 0.10 83.4 95
-------------------------------------------------------------------------
Includes 96.0 99.2 3.20 2.17 104.6 0.06 107.9 95
-------------------------------------------------------------------------
DDJ-32 101.0 110.0 9.00 7.36 151.2 0.26 166.9 91
-------------------------------------------------------------------------
Includes 101.0 107.8 6.80 5.56 190.7 0.33 210.5 92
-------------------------------------------------------------------------
DDJ-33 76.0 80.3 4.30 3.65 294.1 0.14 302.4 95
-------------------------------------------------------------------------
Includes 78.0 80.3 2.30 1.95 519.7 0.25 534.5 96
-------------------------------------------------------------------------
DDJ-34 140.0 147.5 7.50 6.60 56.5 0.11 63.3 66
-------------------------------------------------------------------------
Includes 144.0 145.2 1.20 1.06 152.7 0.37 175.0 75
-------------------------------------------------------------------------
DDJ-35 95.0 101.7 6.70 5.80 61.0 0.47 89.0 97
-------------------------------------------------------------------------
DDJ-36 68.6 77.1 8.50 7.26 81.8 0.54 114.1 80
-------------------------------------------------------------------------
Includes 73.7 75.0 1.30 1.11 314.6 2.90 488.8 82
-------------------------------------------------------------------------
DDJ-37 53.0 57.0 4.00 2.68 135.5 0.28 152.4 93
-------------------------------------------------------------------------
DDJ-37 81.0 84.7 3.65 2.45 186.6 0.25 201.6 98
-------------------------------------------------------------------------
Includes 81.7 84.7 2.95 1.98 221.0 0.21 233.9 98
-------------------------------------------------------------------------
DDJ-37 122.0 124.0 2.00 1.49 94.7 3.24 288.9 98
-------------------------------------------------------------------------
DDJ-38
Intercept 1 27.0 37.5 10.50 7.45 703.8 0.13 711.4 85
-------------------------------------------------------------------------
DDJ-38
Intercept 2 40.5 63.0 22.50 15.96 200.0 0.08 205.1 89
-------------------------------------------------------------------------
Includes 40.5 48.9 8.35 5.92 389.0 0.11 395.4 93
-------------------------------------------------------------------------
Includes 56.9 60.9 4.00 2.84 204.9 0.18 215.5 90
-------------------------------------------------------------------------
DDJ-38
Intercept 3 91.0 95.0 4.00 2.97 147.7 0.44 174.3 87
-------------------------------------------------------------------------
DDJ-38
combined 1,2&3 27.0 95.0 68.00 48.24 194.4 0.08 199.2 87
-------------------------------------------------------------------------
Previously Reported Phase I Drilling
-------------------------------------------------------------------------
DDJ-21 30.0 54.0 23.95 21.60 105.4 0.34 125.9 74
-------------------------------------------------------------------------
Includes 32.1 35.1 3.05 2.75 81.9 0.02 83.1 95
-------------------------------------------------------------------------
Includes 40.7 43.7 2.95 2.66 131.0 0.07 135.2 100
-------------------------------------------------------------------------
Includes 46.0 49.4 3.43 3.09 375.9 2.07 500.3 64
-------------------------------------------------------------------------
DDJ-22 55.1 69.2 14.14 11.41 142.6 0.63 180.5 83
-------------------------------------------------------------------------
Includes 56.6 59.9 3.30 2.66 476.6 2.39 620.0 61
-------------------------------------------------------------------------
DDJ-23 118.4 119.7 1.30 1.12 337.0 2.06 460.3 40
-------------------------------------------------------------------------
Min length reported = intercepts of greater than 1.1 m
-------------------------------------------------------------------------
Silver and gold assays are uncapped.
-------------------------------------------------------------------------
Maximum Internal dilution 2m@10 g/t
-------------------------------------------------------------------------
Primary intersection uses Min. Grade = 30 g/t Ag
-------------------------------------------------------------------------
"Includes" uses Min. Grade = 60 g/t Ag
-------------------------------------------------------------------------
Ag Eq. = Ag g/t + 60 x Au g/t; metallurgical recoveries and
net smelter returns are assumed to be 100%.
-------------------------------------------------------------------------
The estimated true width of an intersection may increase, decrease, or
remain the same in the future as more drilling provides improved
information on the dip angle of the mineralized structure.
-------------------------------------------------------------------------


Mirasol's management is encouraged by the positive results returned from
the second round of drilling. The proximity of the La Negra and La Morocha
zones suggests the possibility that these zones could cumulatively contain a
significant mineral resource. Coeur is planning a third phase of drilling at
La Negra and La Morocha for the Southern Hemisphere spring of 2009 to further
test the potential of the La Morocha - La Negra system.

Stephen C. Nano, Vice President of Exploration for Mirasol, is the
Qualified Person under NI 43-101 who has verified and approved the technical
content of this news release.

Quality Assurance/Quality Control: Coeur d'Alene operates the Joaquin
Project and generated the drilling data and QAQC used in this news release and
reported it to Mirasol. Drill core samples were submitted to Alex Stewart
(Assayers), Argentina S.A. in Mendoza, Argentina. Gold and silver results were
determined using standard fire assay techniques on a 50 gram sample with an
atomic absorption finish for gold and a gravimetric finish for silver. Coeur's
QAQC included insertion of blanks and standards into the sample stream.
Mirasol has performed an independent analysis of the QAQC data generated by
Coeur. Stephen Nano has reviewed the Coeur data and calculated the intercepts
in this news release, and is a qualified person as defined by National
Instrument 43-101.
All assay results reported herein are for core rock samples; assay
results from drill core samples may be higher, lower or similar to results
obtained from surface samples.

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 on Mining in Argentina, visit our website: http://www.argentinamining.com/

Yamana Gold Declares Commercial Production at Gualcamayo and Announces Construction Decision for its C1 Santa Luz and Mercedes Projects

TORONTO, July 22 /CNW/ - YAMANA GOLD INC. (TSX: YRI; NYSE: AUY; LSE: YAU)
announced that it has declared commercial production at its Gualcamayo mine
effective July 1, 2009. Located in the province of San Juan, Argentina, the
Gualcamayo mine is expected to contribute significantly to Yamana's overall
production and be one of its core mines. The Gualcamayo mine primary ore pass,
conveyor system and processing facilities were constructed in less than 20
months following receipt of a positive feasibility study and the start up of
construction in August 2007. The ore pass and primary crushing facilities were
commissioned in late April 2009, although processing of ore at Gualcamayo
began in late December 2008. A list of key milestones is provided below:

-------------------------------------------------------------------------
Key Milestones Status
-------------------------------------------------------------------------
Mining Commissioned
-------------------------------------------------------------------------
Primary ore pass Commissioned
-------------------------------------------------------------------------
Primary & secondary crusher Commissioned
-------------------------------------------------------------------------
Conveyor system Commissioned
------------------------------------------------------------------------
ADR plant Commissioned
-------------------------------------------------------------------------

In declaring commercial production, the Company took into account the
following:

- Increased production from approximately 20,000 ounces in the first
quarter of 2009 to approximately 24,000 ounces in the second quarter;
- Cumulative weighted average cash costs from February to June 2009
below US$450 per ounce (capitalized as related production was not
commercial);
- Recovery is expected to increase progressively to the level of 76% to
80% into the fourth quarter of 2009;
- Sustained operation of ore pass and crushing facilities;
- Expected commercial production for 2009 of approximately
75,000 ounces of gold.

Production subsequent to 2009 is expected to include ore from the Amelia
Ines and Magdalena (AIM) satellite deposits supplementing the main ore body at
Quebrada del Diablo (QDD). The contribution to production from the AIM
satellite deposits after 2009 is currently being evaluated.

The three main mineral deposits at Gualcamayo include the main QDD
deposit, the AIM satellite deposits and the QDD Lower West underground zone.
The total reserve and resource base is approximately 3.9 million ounces of
gold including 2.9 million ounces of reserves.

ADVANCED DEVELOPMENT PROJECTS UPDATE

Yamana also announced that it has made a construction decision for the
development of its C1 Santa Luz project in Brazil and its Mercedes project in
Mexico, and also reported further progress on its other advanced development
stage growth projects and provided an exploration update. These advanced
development stage growth projects are part of Yamana's core philosophy of
focusing on quality as well as quantity of production at comparatively low
cash costs and in stable mining jurisdictions.

Construction and Development Projects
-------------------------------------

C1 Santa Luz, Brazil

Yamana has made a construction decision for C1 Santa Luz. The
construction decision is based on an economic update to a previously completed
feasibility study which shows improved economics and a longer mine life. C1
Santa Luz is planned as a conventional open pit mine with processing through a
floatation and CIL circuit.

Key parameters of the feasibility study and economic update include:

Reserves (Proven and Probable): 23.8 mt grading 1.55 g/t Au containing
1.2 M ounces
Resources (Measured and Indicated)(*): 45.82 mt grading 1.56 g/t Au
containing 2.5 M ounces
Capital Cost: US$143M
Operating Cost: US$17.78 per tonne
Cash Cost (per ounce): US$465
Average Throughput: 6,800 tonnes per day
Average Production (per year): 104,000 ounces
Initial Mine Life: 10 years
After-tax IRR: 27.9%

(*)Resources include reserves

The updated financial analysis is based on a gold price of US$900 per
ounce and a 5% discount rate resulting in an initial after-tax net present
value of approximately US$142 million. In the first two full years of
production, average annual production is expected to exceed 130,000 ounces,
which should accelerate payback. The mine life for the project has increased
from the initial 2007 feasibility study estimate of approximately seven years
to 10 years. The level of certainty of capital and operating costs along with
metallurgical recovery and engineering has increased with further work done
since 2007. The capital cost estimate assumes owner mining which can be
further reduced using contractor mining. The majority of the estimated capital
cost will be incurred in 2011 and 2012.

The C1 Santa Luz project is located in the state of Bahia, Brazil,
approximately 60 kilometres north of Yamana's Fazenda Brasileiro mine and 160
kilometres east of its Jacobina mine. The C1 Santa Luz gold deposit lies
within the Rio Itapicuru Greenstone Belt, a deformed and metamorphosed
greenstone-granite terrain of paleoproterozoic age. The gold deposits are
closely associated with small porphyritic dacite intrusions and extensive
zones of breccia hosted in carbonaceous meta-sedimentary rocks, with
associated hydrothermal alteration centred on the intrusions. Yamana has
advanced C1 Santa Luz from a grassroots exploration prospect to an advanced
development stage project.

The carbonaceous nature of the ore and strip ratio for the project
increase the sensitivity of the project to operating cost increases and, for
these reasons significant efforts have been undertaken since the feasibility
study in 2007 to increase the level of certainty on recoveries and the
understanding of associated cash cost per ounce. Synergies between Yamana's
Fazenda Brasileiro mine and C1 Santa Luz have not been used in assessing the
associated costs for the project although these synergies will be reviewed
during the permitting process.

The Company anticipates that the permitting process will take
approximately nine months. During that period, Yamana intends to further
advance detailed engineering and order longer lead time items. Production at
C1 Santa Luz is expected to begin in mid-2012.

Mercedes, Mexico

The Company has also made a decision for the development and construction
of the Mercedes gold-silver project. This decision is based on positive
project economics from a study earlier this year, the results of which were
announced in February, and recent drilling results which add further certainty
to the extension of the initial mine life. In addition, since earlier this
year, Mercedes has been further advanced with the construction of a
development ramp. The ramp has accelerated development of the Mercedes vein
and confirmed continuity in the grade over approximately 600 metres of length,
plus approximately 300 metres in two cross-cuts and vein levels. Earlier this
year, the Company also acquired a mill which when refurbished would be
suitable for the project. The permitting process is also in progress.

Key parameters of the February 2009 study include:

Reserves (Proven and Probable): 2.65 mt grading 7.10 g/t Au and 72.43 g/t
Ag (7.58 g/t AuEq) containing 604,402 Au ounces and 6,163,221 Ag ounces
(645,490 GEO)
Resources (Measured and Indicated)(*): 2.39 mt grading 8.62 g/t Au and
85.14 g/t Ag (9.19 g/t AuEq) containing 661,830 Au ounces and 6,536,394
Ag ounces (705,000 GEO)
Construction Capital Cost: US$152M
Cash Cost (per GEO): US$264
Average Production (per year): 120,000 GEO
Initial Mine Life: 6 years
After-tax IRR: 22.4%

(*)Resources include reserves

The financial analysis provided in February 2009 was based on a gold
price of US$814 per ounce and a silver price of US$13 per ounce. The study
also included an upside scenario adding three years to the original initial
mine life based on current resources and recent exploration results. The
Company's further economic analysis with cash flow based on US$900 per ounce
of gold and US$15 per ounce of silver and assuming the upside mine life
scenario results in a 5% net present value of approximately US$181 million and
an IRR of 29%.

Further drilling results not included in the pre-feasibility study are
expected to increase the resource estimate for the Barrancas area and the
newly discovered Lupita vein zone areas. These drilling results were
previously announced by the Company in its June 17, 2009 news release,
highlighting drill hole M09-449D intersecting 7.70 metres of 17.48 g/t gold
and 66.0 g/t silver at Las Barrancas and L09-021D intersecting 7.64 metres of
28.15 g/t gold and 52 g/t silver at Lupita which support the upside mine life
scenario referred to above. A new resource estimate based in part on these
drilling results is in progress.

The Mercedes mine will be developed by two accesses from surface,
including the previously mentioned development ramp. The main pre-production
development activities during the permitting process now underway include:

- Main ramp excavation;
- Completion of ore/waste pass for Corona de Oro;
- Ramp development for main stopes;
- Completion of main ventilation system;
- Creation of an ore stockpile;
- Development of underground infrastructure and services including
water pumping system, electrical distribution, backfill distribution
and administrative installations; and
- Detailed engineering and procurement.

The Mercedes project is located in northern Sonora, Mexico approximately
200 kilometres south of Tucson, Arizona. The deposit consists of a complex
gold-silver hydrothermal low-sulphidation vein/stockwork system.

The Company expects to receive permitting in mid-2010 with production
targeted to begin in late-2012.

Ernesto/Pau-a-Pique, Brazil

In February 2009, the Company completed a scoping study with positive
results for Ernesto/Pau-a-Pique.

Key parameters of the study include:

Resources (Indicated): 3.95 mt grading 4.67 g/t Au containing
593,000 ounces
Resources (Inferred): 3.14 mt grading 3.02 g/t Au containing
305,000 ounces
Capital Cost (2010-2011): US$86M
Cash Cost (per ounce): US$356
Average Production (per year): 100,000 ounces
Initial Mine Life: 8 years
After-tax IRR: 38%

The financial analysis is based on a gold price of US$825 per ounce and a
5% discount rate resulting in an initial after-tax net present value of
approximately US$138 million. The Company's further analysis with cash flow
based on US$900 per ounce of gold results in a value of approximately US$173
million and an IRR of 44%.

At Ernesto/Pau-a-Pique, Yamana has continued driving an exploration
tunnel for determining continuity of grade and accelerating development work.
In addition, the Company plans on focusing on infill drilling to upgrade
inferred resources to the indicated category, with 7,000 metres of drilling
planned for 2009. The infill program planned is to support a feasibility
study.

The Ernesto/Pau-a-Pique project is located in southwest Mato Grasso
state, near Pontes e Lacerda in Brazil. The Pau-a-Pique deposit is
approximately 56 kilometres by road south of the Ernesto deposit. The
significant existing infrastructure including paved roadways supports the
development of Ernesto/Pau-a-Pique as two mines with a common plant.

A formal construction decision is expected to be made by the end of the
year.

Minera Florida, Chile

At Minera Florida, Yamana has advanced a plan to process historical
tailings of approximately six million tonnes with an average gold grade of 1.2
g/t and average silver grade of 12 g/t for a gold equivalent grade of
approximately 1.4 g/t. Key parameters of the study include:

Capital Cost: US$43 million
Cash Cost (per GEO): US$290
Average Production (per year): 40,000 GEO
Initial Mine Life: 6 years
IRR: 33%

Implementation of the project and ramp up is estimated to be achieved
with 24 months. Yamana has made a decision to proceed with a basic engineering
study and expects to make a final decision to proceed with the project by
year-end. The project would add another 40,000 GEO to current expected
production at Minera Florida beginning in early 2012.

Growth Projects to Add 365,000 New GEO

C1 Santa Luz, Mercedes and Ernesto/Pau-a-Pique are advanced development
projects which along with the expected further production at Minera Florida
are expected to collectively add approximately 365,000 GEO of new production
at a weighted average cash cost of approximately US$350 per GEO which is
consistent with the Company's current cost structure. This does not include
expected production from the Pilar/Caiamar projects or from QDD Lower West,
the underground area of mineralization at Gualcamayo, which Yamana continues
to advance.

"We have reached an exciting growth stage for Yamana," said Ludovico
Costa, Yamana's chief operating officer. "These new organic growth projects
represent significant additional production at industry low cash costs with
robust returns, consistent with Yamana's core philosophy of focusing on
quality as well as quantity of production at comparatively low cash costs in
stable mining jurisdictions."

Agua Rica, Argentina
--------------------

Yamana continues to increase the value of Agua Rica. The Company received
the environmental license early in 2009, dependent on compliance with certain
conditions and sectoral permits which are expected within 18 months.

The Company is also updating components to the feasibility study
delivered in October 2006. In the context of current metal prices, Yamana is
currently re-evaluating the prospects of a strategic partnership.

EXPLORATION UPDATE

Pilar and Caiamar Exploration Concessions

Yamana recently acquired an extensive exploration concession and project
called Caiamar located approximately 38 kilometres from Yamana's Pilar project
and just east of the Crixas Greenstone Belt.

Caiamar is located in the northern portion of a regional Shear Zone in
the Guarinos Greenstone Belt and mineralization consists of arserno-pyrite
rich quartz breccias hosted in metagraywacke layers. A total of 16,000 metres
of drilling and 2,000 metres of underground development in 2 metre x 2 metre
sections and three levels (55 metres, 110 metres and 150 metres) were
conducted by previous companies. Mineralization is opened down plunge and
along strike.

A total of US$3.4 million has been budgeted for regional exploration and
25,000 metres of drilling at Caiamar. The objective of the drill program for
the first year will be to assess the potential of the deposit and evaluate the
regional potential inside the Caiamar concessions, in addition to define the
ore bodies' geometry and grade. As part of the drill program, Yamana is
re-logging and re-sampling the previous holes and expects to start an
underground panel sampling and initial extension drilling program of 3,700
metres. The Company believes that it can rapidly validate and extend the
existing resource.

At Pilar, Yamana has budgeted US$4.1 million for exploration in 2009 and
11,000 metres of drilling is currently in progress along with an exploration
ramp for continuity of grade and accelerating development work. A new resource
estimate based on drilling in 2009 is expected in the fourth quarter of 2009,
with a feasibility study and construction decision expected in the first
quarter of 2010.

The Pilar and Caiamar projects share similar geology and prospectivity
and the Company believes that the combination of these two areas will
meaningfully increase the potential for increased resources and rapid
advancement of project development. In addition, Pilar and Caiamar are located
approximately 78 kilometres and 50 kilometres, respectively, from Yamana's
Chapada mine and the Company believes there would be synergies resulting from
the operations at Chapada.

Increased 2009 Exploration Budget

Consistent with the previously disclosed strategy of the Company, Yamana
has increased its 2009 exploration budget from US$56 million to US$66 million
based on exploration successes to date. The exploration program will continue
to focus on high margin, high quality ounces at and near its mines. The US$10
million increase will be allocated to the following projects:

-------------------------------------------------------------------------
PROJECT ORIGINAL BUDGET INCREASE TOTAL
(US$M) (US$M) (US$M)
-------------------------------------------------------------------------
El Penon $12.6 $2.7 $15.3
-------------------------------------------------------------------------
Mercedes $4.5 $1.5 $6.0
-------------------------------------------------------------------------
Caiamar $0 $3.4 $3.4
-------------------------------------------------------------------------
Minera Florida $8.6 $2.4 $11.0
-------------------------------------------------------------------------
TOTAL $25.7 $10.0 $35.7
-------------------------------------------------------------------------

The objective of Yamana's exploration program is to advance new 2009
discoveries to indicated resources for El Penon, Minera Florida and Mercedes,
to advance the Pilar and Caiamar projects to the feasibility stage and more
generally to add high margin, high quality ounces.

The Company will evaluate any additional increases in its exploration
budget depending on further successes.

Quality Assurance and Quality Control

Yamana incorporates a rigorous Quality Assurance and Quality Control
program for all of its mines and exploration projects which conforms to
industry Best Practices as outlined by the CSE and National Instrument 43-101.
All exploration diamond drill cores are split in half by mechanical or
electrical sawing techniques and sampled at appropriate intervals for assay.
The remaining core is stored on-site pending assay results. Quality Assurance
standards, duplicates and blanks are routinely inserted into the sample stream
as a control for assay accuracy, precision and contamination. The results of
these checks are tracked and failures are reanalyzed. Results are incorporated
into resource models following approval of the QAQC Manager.

Qualified Person

Evandro Cintra, P.Geo., Senior Vice President, Technical Services for
Yamana Gold Inc. has reviewed and confirmed the data contained within this
news release and serves as the Qualified Person as defined in National
Instrument 43-101.

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.


For more information on Mining in Argentina, visit our website: http://www.argentinamining.com

21 jul 2009

TNR Gold Oversubscribes Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 20, 2009) - TNR Gold Corp. (TSX VENTURE:TNR) ("TNR" or the "Company") is pleased to announce that due to the high level of interest in its recent financing, the Company has increased the size of the private placement originally announced on July 6th, 2009.

TNR is now in receipt of subscriptions totaling 5,900,000 units at a price of $0.20 per unit for gross proceeds of $1,180,000 (the "Offering"). Each Unit consists of one common share and one-half common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share of the Company at a price of $0.30 for a period of twelve months from the date of closing.

A large portion of the Offering is a welcomed strategic investment from Canada Zinc Metals -- a mineral exploration company focused on unlocking the potential of a world class zinc-lead-silver district in British Columbia, Canada. It is the dominant land holder in an extensive mineral belt known as the Kechika Trough which hosts in excess of 80 million tonnes of base metal resources. Significant shareholders of Canada Zinc Metals include Lundin Mining Corp. (TSX:LUN) and Tongling Nonferrous Metals Group Holdings Co. Ltd. Tongling, which currently holds a 13 per-cent equity position in Canada Zinc Metals, is one of China's largest copper smelting companies and ranked in the top 100 large-scale industry enterprises in China. Tongling's principal activities are exploration, mining, ore processing, smelting and refining and products processing of copper, lead, zinc, gold, silver and other non-ferrous and rare metals. TNR's portfolio of lithium and rare metal properties is attracting interest from investors around the world.

TNR's Non-Executive chairman, Mr. Kirill Klip, will be taking a significant portion of the financing along with other insiders and management.

All securities issued pursuant to this Offering are subject to a 4-month hold period from the date of closing. The Offering is subject to TSX Venture Exchange approval and any regulatory approvals, which the company expects within the next few days.

Proceeds of the Offering will be used to fund the evaluation of TNR's Lithium and Rare Metal properties, implement the proposed spin-off of International Lithium Corp. and for general corporate purposes.

ABOUT TNR GOLD CORP.

TNR is a diversified metals exploration company focused on identifying and exploring existing properties in Argentina and Alaska and new prospective projects globally. Upon approval of pending licences in Ireland, TNR will have a total portfolio of 32 properties, of which 16 will be included in the proposed spin-off of International Lithium Corp.

It is anticipated that TNR shareholders of record will receive one share and one full tradable warrant of International Lithium Corp. for every 4 shares of TNR held as of the yet determined record date. This will result in TNR shareholders owning shares in both TNR and International Lithium. For further details of the spin-off please refer to TNR's April 27, 2009 news release or visit http://www.internationallithium.com

The recent acquisition of lithium projects in Argentina, Canada, USA and Ireland confirms the Company's commitment to project generation, market diversity and building shareholder value.

On behalf of the board,

Gary Schellenberg, Chairman and CEO

Statements in this press release other than purely historical information, historical estimates should not be relied upon, including statements relating to the Company's future plans and objectives or expected results, are forward-looking statements. News release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.

For more information on Mining in Argentina, visit our website: http://www.argentinamining.com

Quri Resources, Inc. Enters Into Financing Agreement for 3 Million Euros

QUITO, ECUADOR--(Marketwire - July 21, 2009) - Jaime S. Gomez, CEO of Quri Resources (PINKSHEETS: QURS), announced today that the Company entered into a financing agreement with U-mex gmbH, a Swiss investment banking firm. U-mex will be assisting the company with a private placement of its preferred shares, up to 3 million Euros, on a best-effort basis.

Mr. Gomez stated, "Entering into an agreement with U-Mex was the next logical step for us. It gives us the ability to grow exponentially, giving our shareholders added value." He further stated, "We have over 4,400 acres in Ecuador, several more thousand in the United States and are currently working on acquisitions here in Ecuador and Argentina. We operate out of Quito, Ecuador and subsequently have very low overhead and most of our proceeds from the private placement will go directly to production and acquisitions."

For more information contact info@quriresources.com

Quri Resources is U.S.-based junior mining company committed to the exploration, discovery and development of gold, silver, copper and other minerals. Quri Resources Inc. holds mining rights and mineral concessions in Ecuador and the United States. These properties are in different stages of exploration and development. Quri Resources was founded by professionals with unmatched expertise in business and the mining industry in South America and North America. Quri Resources is committed to exploring responsibly, maintaining environmentally friendly policies while impacting the local economy in an exponentially positive manner that will allow our shareholders to take pride in their investment.

For more information about us, please visit our web site www.quriresources.com

Some of the statements contained herein may be forward-looking statements, which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward-looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward-looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital.

Contact:
Jaime Gomez
Phone: 305 755 7482

20 jul 2009

Fortune Valley Announces Equity Financing

Fortune Valley Resources Inc FVX 7/20/2009 5:03:04 PMVANCOUVER, BRITISH COLUMBIA, Jul 20, 2009 -- Fortune Valley Resources Inc. ("Fortune Valley" or the "Company") (TSX VENTURE:FVX) announces that it intends to raise $600,000 through an offering of units (the "Units") in the Company at $0.05 per Unit. Each Unit will consist of one common share of the Company and one-half of a transferable common share purchase warrant (a "Warrant") of the Company. Each whole Warrant will entitle the holder to purchase one additional common share of the Company at $0.10 for a period of two years subject to acceleration in the event that the shares trade at $0.20 per share for 20 consecutive trading days.

A spokesperson for Fortune Valley stated that, "During the market turndown, the new look management team has remained committed to its shareholders. This important milestone will provide the financial resources for the Company to advance its gold strategy in 2009."

The Units will be offered by way of short form prospectus in British Columbia and Alberta.

Subject to satisfactory completion of due diligence, Blackmont Capital Inc. has agreed to act as agent for this offering on a commercially reasonable efforts basis. The Company will agree to pay a 10% cash commission and grant a compensation option to the agent to purchase that number of Units equal to 10% of the total number of Units sold under the offering.

Net proceeds from the offering will be used to pay the costs of the offering, to conduct exploration and development activities, to pursue the acquisition of new properties, to pay general and administrative expenses and to manage current liabilities and working capital.

The closing of the offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange and the securities regulatory authorities.

Fortune Valley Resources Inc. is a mining company focused on creating shareholder wealth through the development of high quality gold assets in Chile and Argentina.

Forward Looking Statements:

Some of the statements contained herein may be forward-looking statements, which involve known and unknown risks and uncertainties. Without limitation, statements regarding future plans and objectives of the Company are forward looking statements that involve various degrees of risk. It is important to note that the Company's actual results could differ materially from those in such forward-looking statements.

The Board of Directors

Fortune Valley Resources Inc.

To receive company news releases via e-mail, please advise catarina@chfir.com and specify "Fortune Valley Resources press releases" in the subject line.

SOURCE: Fortune Valley Resources Inc.

CHF Investor Relations
Robin Cook
Senior Account Manager
(416) 868-1079, Ext. 228
(416) 868-6198 (FAX)
robin@chfir.com
www.fortunevalleyresources.com

For more information on Mining in Argentina, visit our website: http://www.argentinamining.com

16 jul 2009

Arapaho Capital Corp.: Malbex Completes $10.6 Million Financing

TORONTO, ONTARIO--(Marketwire - June 30, 2009) - NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA
Arapaho Capital Corp. (TSX VENTURE:AHO) ("Arapaho") and Malbex Resources Inc. ("Malbex") are pleased to announce that Malbex has completed its previously announced private placement (the "Private Placement") of subscription receipts. The Private Placement consisted of the sale of 21,275,000 subscription receipts (the "Subscription Receipts") by Malbex through Thomas Weisel Partners Canada Inc. (as lead agent), Dundee Securities Corporation and GMP Securities L.P. (collectively the "Agents") at a price of $0.50 per Subscription Receipt for gross proceeds of $10,637,500.

The Private Placement was completed in connection with the proposed reverse take-over transaction (the "Proposed Transaction") announced on May 26, 2009 involving Malbex and Arapaho to be completed by way of a three-cornered amalgamation (the "Amalgamation") whereby Malbex will amalgamate with a wholly-owned subsidiary of Arapaho and shareholders of Malbex will receive common shares of Arapaho on the basis of one common share of Arapaho for 1.5 common shares of Malbex (the "Exchange Ratio").

Immediately prior to completion of the Amalgamation, each one Subscription Receipt will be automatically exchanged, without the payment of any additional consideration, for one unit of Malbex (each a "Unit"). Each Unit will consist of one common share of Malbex (each a "Unit Share") and one-half of one warrant of Malbex (each whole warrant a "Warrant"). Each Warrant will entitle the holder thereof to purchase one common share of Malbex (each a "Warrant Share") at a price of $0.75 (the "Exercise Price") at any time on or before the date (the "Expiry Date") which is the earlier of (a) 18 months after the effective date of the Amalgamation, and (b) June 29, 2011. Malbex (or, upon completion of the Amalgamation, Arapaho) has the right to accelerate the Expiry Date on notice to the Warrant holders if the closing price of its common shares on a stock exchange in Canada is higher than $1.00 per common share (the "Acceleration Price") for a period of 20 consecutive trading days in which case the Warrants will expire on the 30th day after the date on which such notice is given.

The Unit Shares and the Warrants will be exchanged for common shares and warrants of Arapaho on the basis of the Exchange Ratio in accordance with the terms of the Amalgamation. The Exercise Price, the number of Warrant Shares issuable upon exercise of the Warrants and the Acceleration Price are subject to adjustment on the basis of the Exchange Ratio in accordance with the terms of the Amalgamation.

The proceeds from the Private Placement will be used for exploration and general corporate purposes. Upon closing of the Private Placement, $2,000,000 plus the cash fee payable to the Agents and the expenses in connection with the Private Placement (the "Non-Escrowed Funds") was released to Malbex. The remaining portion of the aggregate gross proceeds from the Private Placement is being held in escrow and will be released to Malbex upon completion of the Amalgamation, provided that the Amalgamation is completed within six months from the date of closing of the Private Placement. In the event that the Amalgamation is not completed by such date, a portion (equal to the percentage that the Non-Escrowed Funds represent of the gross proceeds from the Private Placement) of the Subscription Receipts of each holder will be exchanged for Units, and each of the holders of Subscription Receipts will have the option, as to such holder's remaining Subscription Receipts, to redeem them for the purchase price for such Subscription Receipts or exchange them, without the payment of any additional consideration, for Units on the basis of one Unit for each such Subscription Receipt.

The Subscription Receipts were sold on a private placement basis only to persons resident in the Provinces of British Columbia, Alberta and Ontario, the United States and in certain other jurisdictions outside of North America, in each case pursuant to available exemptions from any prospectus, registration or similar requirement of applicable securities legislation.

About Malbex Resources Inc.

Malbex is a private gold exploration company led by several former executives and directors of Aurelian Resources Inc. Malbex holds an indirect 100% interest in three exploration projects in the Province of San Juan, Argentina, two of which are in close proximity to Barrick's Veladero and Pascua-Lama gold deposits. Malbex has outstanding 52,799,996 common shares, a promissory note convertible into 1,500,000 common shares in certain events and 21,275,000 Subscription Receipts. To date, Malbex has raised an aggregate of approximately $4.4 million from the issue of common shares of Malbex.

About Arapaho Capital Corp.

Arapaho is an investment company. Its objective in managing capital is to ensure sufficient liquidity to pursue potential investments. Arapaho has not had any active business operations for the past three years. Its only source of revenue is interest earned from funds on deposit. Its expenditures are for costs to maintain a public company in good standing and to identify and evaluate potential business ventures or properties.

Completion of the Proposed Transaction is subject to a number of conditions, including Exchange acceptance and disinterested approval of the shareholders of Arapaho. The Proposed Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Proposed Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the Arapaho Filing Statement to be prepared in connection with the Proposed Transaction, any information released or received with respect to the Proposed Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Arapaho should be considered highly speculative.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to: the terms and conditions of the proposed reverse take-over transaction; future exploration and testing; use of funds; and the business and operations of Arapaho after the proposed reverse take-over transaction. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; the price of gold; and the results of current exploration and testing. There can be no assurance that such statements 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 statements. Arapaho and Malbex disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.


The TSX Venture Exchange has in no way passed upon the merits of the Proposed Transaction and 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.

For more information, please contact

Malbex Resources Inc.
Tim Warman
President and Chief Executive Officer
416-566-6762
timwarman@malbex.ca

or

Arapaho Capital Corp.
Brian Bayley
President and Chief Executive Officer
604-689-1428
604-681-4692 (FAX)

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For more information on Mining in Argentina, visit our website: http://www.argentinamining.com