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.
---
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.

30 jun 2010

Minera IRL Announces March Quarter 2010 Financial Results


LONDON, UNITED KINGDOM--(Marketwire - June 30, 2010) - Minera IRL Limited ("Minera IRL" or the "Company"), (TSX:IRL)(AIM:MIRL)(BVLAC:MIRL) the Latin American focused gold mining, development and exploration company, today announced its unaudited interim results for the March 2010 quarter.

Highlights for the quarter ended 31 March 2010 included:

* Gold production above budget at 7,071 ounces
* Sales revenue of US$8.4 million; average sales price US$1,110 per ounce
* Corihuarmi cash operating cost of US$432 per ounce
* EBITDA of US$2.3 million (Q1 2009 US$2.4 million)
* Profit before tax of US$566,000 (Q1 2009 US$633,000)
* Profit after tax of US$242,000 (Q1 2009 US$293,000)
* Cash balance healthy at US$10.9 million at 31 March 2010
* In-fill drilling for Ollachea Project Pre-Feasibility Study commenced; new discovery at Concurayoc
* Don Nicolas Feasibility Study begun and Patagonia regional exploration has identified a large gold bearing breccia zone at Escondido
* Acquisition of new exploration project, Quilavira, in Southern Peru
* Listed on the TSX, Main Board

Courtney Chamberlain, Minera IRL Limited Executive Chairman stated "The Company's financial performance for the three months to 31 March 2010 was in line with management's expectations, with our Corihuarmi Gold Mine continuing to perform well. Our diverse range of technical programs are progressing very well with the commencement of the Pre-feasibility Study at the Minapampa Zone, Ollachea Project in Peru and a full Feasibility Study on the recently acquired Don Nicolas Project in Argentina. On the exploration front, we have announced an exciting new discovery at Concurayoc, Ollachea, as well as the identification of large gold bearing breccia zone at Escondido in Patagonia."

The new Concurayoc discovery at Ollachea, located close towards the West of the 1.3 million ounce Minapampa Zone gold resource currently in prefeasibility study, has identified potentially economic grade gold mineralization over a strike length of some 500 meters.

In Patagonia, a large breccia body named Escondido has been identified immediately adjacent to the Dos Calandrias discovery announced by Mariana Resources Ltd. Surface sampling on Escondido has returned anomalous gold values over a strike length of some 700 meters. Infill drilling with two rigs is well advanced at the Don Nicolas Gold Project where a feasibility study is due for completion in 2011.

Minera IRL listed on the main board of the TSX on 29 April 2010 and has taken advantage since the period end of a US$20 million debt finance facility with Macquarie Bank in order to continue the aggressive development and exploration push at its rapidly evolving Ollachea and Don Nicolas Projects.

This announcement may be viewed at the Company's web site, www.minera-irl.com.

Minera IRL Limited is the AIM, TSX and BVL listed holding company of precious metals mining and exploration companies focused in Latin America. Minera IRL is led by an experienced senior management team with extensive industry experience, particularly in operating in South America. The Group operates the Corihuarmi Gold Mine and the emerging Ollachea Gold Project in Peru as well as the Don Nicolas Project in Argentina.

This press release was reviewed by Donald McIver, VP Exploration of the Company, MSc Exploration and Economic Geology, a Fellow of the Australian Institute of Mining and Metallurgy (AUSIMM), who is the designated Qualified Person for the purposes of National Instrument 43-101 and has approved the technical information in this press release.

Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties.

While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggestions herein. Except as required by applicable law, Minera IRL Limited does not intend to update any forward-looking statements to conform these statements to actual results.

Chairman's Statement

Activities within the Minera IRL Group advanced on many fronts during the first quarter of 2010: the Pre-Feasibility Study at our Ollachea Project was started; our Corihuarmi Gold Mine continued its good performance; Hidefield Gold Plc was successfully integrated and lastly a promising new exploration project Quilavira was acquired in Southern Peru.

Profit after tax for the three months to 31 March 2010 was in line with management's expectations and consistent with the first quarter of 2009. Gold sales were a solid US$8.4 million on the back of a continued strong commodity pricing, with spot sales averaging US$1,110 per ounce. Gross profit was US$2.6 million and EBITDA US$2.3 million. Profit before tax was US$566,000 giving a profit after tax of US$242,000. The cash balance at the end of the quarter was US$10.9 million.

Our Corihuarmi Gold Mine continues to perform well with gold production of 7,071 ounces, above budget. Mining activities were largely concentrated on the Susan outcrop. Cash costs averaged US$432 per ounce for the quarter.

Following the positive Scoping Study released in November 2009, the Ollachea Project has moved into the Pre-feasibility Study phase, which is scheduled for completion during the first half of 2011. At the beginning of the year in-fill drilling commenced with the objective of raising the resource confidence level to the Measured and Indicated categories in the core Minapampa Zone before the end of 2010. Good progress was also made on other aspects of the Pre-Feasibility Study including planning for an exploration tunnel into the deposit, metallurgical test work and geotechnical evaluations. A new discovery to the west of Minapampa has also been announced at Concurayoc, where mineralization has been identified over a strike length of some 500 meters.

Following the successful acquisition of AIM listed Hidefield Gold plc in late 2009, we have worked to integrate the fine group of Hidefield professionals into the Company's exploration team and step up activities in Patagonia, Argentina. A full Feasibility Study, due for completion in 2011, has commenced at the Don Nicolas Project and in-fill and extension drilling is well under way with two diamond rigs active. Exploration is also ongoing on a number of exciting projects within the very large tenement package. Of particular interest is the identification of a large breccia body at Escondido immediately adjacent to the Dos Calandrias discovery announced by Mariana Resources. Surface sampling has returned anomalous gold values over a strike length of some 700 meters and the pace of exploration activities on this project is rapidly increasing.

Drilling programs were in progress during the quarter on the Bethania and La Falda gold porphyry projects. In addition, a new exploration project was acquired at Quilavira in southern Peru where a large alteration zone with anomalous surface gold values offers a near term drilling target.

Minera IRL successfully listed on the TSX, Main Board on 29 April 2010. The intent was to follow this with an equity fund raising, but deteriorating market conditions resulted in the withdrawal of this in favour of a US$20 million debt facility provided by Macquarie Bank. These funds will be used to continue to rapidly advance the projects at Ollachea and in Patagonia toward development.

In closing, I would like to extend my appreciation to our outstanding team and to our loyal shareholders. Together we continue to build toward a bright and prosperous future.

Courtney Chamberlain
Executive Chairman
Minera IRL Limited 29 June 2010























































































Notes to the Quarterly Report

The financial information contained in this Quarterly Report does not constitute statutory accounts as defined by the Companies (Jersey) Law 1991. No statutory accounts for the period have been delivered to the Jersey Registrar of Companies. The financial information contained in this Quarterly Report has neither been audited nor reviewed by the auditors.

The statutory accounts for the year ended 31 December 2009 will be filed with the Jersey Registrar of Companies. The auditors' report on these accounts was unqualified. The consolidated financial information contained in this Quarterly Report has been presented and prepared in a form consistent with the annual accounts and in accordance with accounting policies and standards applicable to those annual accounts.

This Quarterly Report has been approved for issue by the Board of Directors on 29 June 2010.

Profit per share

The profit per share has been calculated using the profit attributable to ordinary shareholders of US$242,000 (first quarter 2009: US$293,000) and the weighted average number of ordinary shares in issue during the three months to 31 March 2010 of 85,632,949 (first quarter 2009: 61,883,422).

Issue of shares

On 8 February 2010 the Company issued 100,000 ordinary shares at a price of GBP0.45 per share as a result of the exercise of share options issued to a director of the Company on 12 April 2007.

Transactions of an unusual nature

There were no transactions of an unusual nature during the three months to 31 March 2010.

Seasonal Influences

The business of the Company is not generally subject to seasonal influences.

Related parties

During the period the Company has received registrar services from Computershare Investor Services (Jersey) Limited, a company related through a common director. The contract for these services provides for a minimum annual charge of GBP3,000 to be paid by the Company.

In addition the Company has received consultancy services from Hamilton Capital Partners Limited for whom a Director acts as a consultant adviser. The contract for these services provides for an annual charge of GBP24,000. The contract will end on 30 September 2010.

Subsequent events

On 27 April 2010 Minera IRL Limited was accepted onto the Main Board of the TSX and began trading on 29 April 2010.

The Directors of Minera IRL are listed in the Group's Annual report for the year ended 31 December 2009.
By order of the board

C Chamberlain
Executive Chairman

The Toronto Stock Exchange neither approves nor disapproves the information contained in this News Release.

For more information, please contact
Minera IRL Limited
Trish Kent
Vice President, Corporate Relations
+511 4181230
or
Arbuthnot Securities (Nominated Adviser & Broker, London)
Hugh Field/Richard Johnson
+ 44 (0)20 7012 2000
or
The Equicom Group Inc. (Investor Relations, Canada)
James Kitchen
Account Executive
+1 416 815 0700 (ext 267)
or
Bankside Consultants (Financial PR, London)
Simon Rothschild
+ 44 (0)20 7367 8888
or
Bankside Consultants (Financial PR, London)
Louise Mason
+ 44 (0)20 7367 8888


Troy Resources NL: New Gold Discovery at Casposo Project, Argentina


PERTH, WESTERN AUSTRALIA--(Marketwire - June 30, 2010) - Troy Resources NL (TSX:TRY)(ASX:TRY) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES




HIGHLIGHTS


*Discovery of previously unknown vein system within 4km of Casposo processing plant
*Veins outcrop in favourable topography with strike extent of at least 400m
*Initial rock chip grab samples collected at about 50m apart along the vein yielded peak gold and silver grades of 7.47g/t of gold and 41g/t of silver (8.06g/t Au_Eq)
*Preliminary follow-up channel sampling highlighted a 200m long section of the vein that produced encouraging values of that included; 1.35m at 8.55g/t Au_Eq and 1.0m at 6.97g/t Au_Eq
*Potential for additional high grade gold-silver vein systems within Casposo Project demonstrated by this discovery

Troy Resources NL ("Troy") is pleased to announce that recent surface exploration has identified a new outcropping vein, known as Casposo Norte, located about 4km north of the mill at the Casposo Project in San Juan Province, Argentina (see Figure 1).

Commenting on the discovery Troy CEO Paul Benson said, "Obviously grades of 7g/t gold at surface and within 4kms of a processing plant is something to get excited about. Of more significance however, is that we have been able to find this vein simply by reprocessing the existing magnetic data and follow-up surface prospecting.

"At this stage we are still focused on the construction of the Casposo mine and processing facility, which remains within budget and on schedule to pour first gold in the September quarter. Because of this, exploration is currently a lower priority, focused mainly on surface mapping and sampling and some shallow RC drilling. Once the mine has been commissioned we will move our focus to aggressively exploring the Casposo and Castaño Nuevo leases.

"We expect to start diamond drilling of the numerous drill targets towards the end of the year, and have budgeted over A$7m for exploration around Casposo in FY2011. The discovery of outcropping veins so close to the plant site gives us tremendous confidence in achieving our objective of adding significantly to the project's gold and silver Reserves and Resources."

BACKGROUND

Troy's geologists undertook a program to reprocess and re-interpret the existing airborne magnetics data and identified a number of magnetic low features with associated intersecting structural features. The magnetic low targets were interpreted as zones of alteration that hosted intersecting structures.

Field checks and ground follow-up prospecting, geological mapping and sampling resulted in the discovery of a new east-west striking outcropping quartz – calcite epithermal vein hosted within andesite. The vein dips at about -60° to the south and outcrops over a length of 400m within a 560m long east-west structural corridor. The vein is open along strike under shallow soil cover and down dip. The average vein width is 1.5m but reaches a maximum of 4m (see Photos 1, 2 & 3).

Of the 6 initial rock chip samples collected at about 50m apart along the vein, 4 samples returned with encouraging gold and silver grades with a peak value of 7.47g/t of gold and 41g/t of silver (8.06g/t Au_Eq) (see Table 1).

The eastern portion of the vein is cut by a north – south striking andesite dyke that displaces the veins in places as well as being displaced by the vein, suggesting dyke emplacement is contemporaneous with vein formation. The western half is dominated by banded quartz- calcite veins with colloform-crustiform textures. Thin stockwork veins of similar texture and composition extend outwards into the andesite parallel to the main vein.

An access track has been established and additional channel sampling and detailed mapping completed. A total of 12 rock chip channel samples have been collected along the vein at 25m intervals. "First Pass" rock chip channel sampling yielded a number of encouraging results over a strike length of 200m that included; 1.35m at 8.55g/t Au_Eq and 1.0m at 6.97g/t Au_Eq (see Figure 2 & Table 2).

Follow-up surface sampling and mapping is underway with drilling to follow.

To view the maps and tables associated with this release, as well as additional information about Troy Resources NL, please visit the following link:

http://media3.marketwire.com/docs/Troy-maps-tables.pdf

Geological information in this Report has been compiled by Troy's Vice President Exploration & Business Development, Peter Doyle, who:

* Is a full time employee of Troy Resources NL
* Has sufficient experience which is relevant to the type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'
* Is a Fellow of the Australasian Institute of Mining and Metallurgy
* Has consented in writing to the inclusion of this data

Information of a scientific or technical nature in this report was prepared under the supervision of Peter J. Doyle, Vice President Exploration and Business Development of Troy, a "qualified person" under National Instrument 43-101 – "Standards of Disclosure for Mineral Projects", a Fellow of the Australasian Institute of Mining and Metallurgy. Mr. Doyle has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration, and to the activity he is undertaking, to qualify as a "competent person" as defined in the 2004 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr. Doyle has reviewed and approved the information contained in this report. For further information regarding the Company's Casposo Project in Argentina, including a description of Troy's quality assurance program, quality control measures, the geology, samples collection and testing procedures in respect of the Casposo project please refer to the technical reports filed Casposo Project, San Juan Province Argentina dated August 1st, 2009 which is available under the Company's profile at www.sedar.com or on the company's website.

This report contains forward-looking statements. These forward-looking statements reflect management's current beliefs based on information currently available to management and are based on what management believes to be reasonable assumptions. A number of factors could cause actual results, performance, or achievements to differ materially from the results expressed or implied in the forward looking statements. Such factors include, among others, future prices of gold, the actual results of current production, development and/or exploration activities, changes in project parameters as plans continue to be refined, variations in ore grade or recovery rates, plant and/or equipment failure, delays in obtaining governmental approvals or in the commencement of operations.

For purposes of Clause 3.4(e) in Canadian Instrument 43-101, the company warrants that Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability.

ABN 33 006 243 750

For more information, please contact
Troy Resources NL
Paul Benson
Chief Executive Officer
(61 8) 9481 1277
(61 8) 9321 8237 (FAX)
troy@troyres.com.au
www.try.com.au
or
Purple Communications
Annette Ellis / Warrick Hazeldine
Media Relations
(61 8) 6314 6300
aellis@purplecom.com.au

Rodinia Minerals Inc. to Commence Trading as Rodinia Lithium Inc. and Announces Mobilization of Drill to Diablillos

TORONTO, ONTARIO--(Marketwire - June 29, 2010) - Rodinia Minerals Inc. ("Rodinia" or the "Company") (TSX VENTURE:RM)(PINK SHEETS:RDNAF)(OTCQX:RDNAF), is pleased to report that as of market open tomorrow, Wednesday, June 30, 2010, the Company's shares will commence trading on the TSX Venture Exchange under its new name, "Rodinia Lithium Inc." The Company previously received shareholder approval for the name change at its Annual General Meeting held on June 10, 2010. The Company's ticker symbols remain unchanged as "RM" on the TSX Venture and "RDNAF" on the OTCQX.

In addition, the Company is pleased to report the mobilization of a reverse circulation ("RC") drill rig to its Salar de Diablillos ("Diablillos" or the "Salar") property. The RC drill and other equipment are setting up on site and drilling is expected to commence this week. All applicable environmental permits and access agreements with surface land holders are in place. Rodinia has established a field camp on the Salar to service the program and ensure efficient work and timely results. Raymond P. Spanjers, MSc. (Geology), Rodinia's Manager of Exploration, and two local geologists who will oversee the drilling program, are on site.

As outlined in the Company's Press Release of June 17, 2010, the drill program will explore across the entire salar with up to 32 drill holes. The Company is finalizing its initial drill targets based on a prioritization of data received from its previous auger drill exploration program and gravity survey results from Quantec Geoscience Argentina S.A., a subsidiary of Quantec Geoscience Ltd. of Toronto, Canada. Rodinia anticipates drilling under this program to occur to depths between 50 and 250 metres. The Company anticipates that results from this drill program will assist to establish a National Instrument 43-101 compliant resource estimate for the Diablillos property.

William Randall, President and CEO, remarked, "The mobilization and startup of our first RC drill program at Diablillos marks a key milestone for the Company and we are excited to get the drill turning. We have developed an extensive program based on a systematic analysis of the data received from gravity surveys and our recently completed auger drill exploration holes. We have prioritized targets for drilling and are prepared to commence the program."

All exploration and drilling initiatives undertaken by Rodinia are supervised by William Randall, MSc. (Geology), the President and CEO of Rodinia. Mr. Randall is a qualified person, as defined by National Instrument 43-101, and he has reviewed and approved the scientific and technical information in this release. According to the Company's sampling protocol, sample size is to exceed 300 milliltres and be stored in clean, secure containers for transportation. The prepared samples are then forwarded to the ALS Laboratory Group, Environmental Division, in Fort Collins, CO (USA) for analysis. A rigorous QA/QC program is implemented consisting of regular insertion of standards and blanks to ensure laboratory integrity.

About Rodinia Lithium Inc.:

Rodinia Lithium Inc. is a Canadian mineral exploration company with a primary focus on lithium exploration and development in North and South America. The Company is positioned to capitalize on the expected increase in demand for lithium carbonate that is projected to result from the anticipated paradigm shift to mass adoption and use of key lithium applications like lithium-ion batteries as well as glass ceramics, greases, pharmaceuticals etc.

Rodinia is currently exploring its Clayton Valley project in Nevada, USA, which surrounds the only lithium-brine producer in North America, and its Diablillos project in Salta, Argentina.

Please visit the Company's web site at www.rodinialithium.com or write us at info@rodinialithium.com. Follow us on Twitter: http://twitter.com/RodiniaLithium.

Cautionary Notes

Except for statements of historical fact contained herein, the information in this press release constitutes "forward-looking information" within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may", "will" and include without limitation, statements regarding the impact of the drill program at the Diablillos property and results of such drill program; the potential of the Company's projects; the potential results and timetable for further exploration with respect to the Clayton Valley project and the Diablillos property; the ability to establish a National Instrument 43-101 compliant resource estimate with respect to the Diablillos property; the timetable with respect to future acquisitions and exploration developments at Clayton Valley and Diablillos, timetable for further exploration, analysis and development, title disputes or claims; and governmental approvals and regulation. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, competition, financing risks, acquisition risks, risks inherent in the mining industry, and regulatory risks. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.

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
Rodinia Minerals Inc.
Aaron Wolfe
Vice President, Corporate Development
+1 (416) 309-2696
www.rodinialithium.com

29 jun 2010

Orocobre Announces Appointment of Argentina Based Non-Executive Director

BRISBANE, AUSTRALIA--(Marketwire - June 28, 2010) - The Directors of Orocobre Ltd (ASX: ORE) (TSX: ORL) are delighted to welcome to its Board of Directors as its first Argentinean Non-Executive Director, Fernando Oris de Roa.

Mr. Oris de Roa is a highly successful business leader with a history of developing and operating large enterprises in Argentina and with a reputation for integrity and social responsibility in his business life.

He brings to the Board a highly developed understanding of the relationship between the public and private sectors in Argentina and will add significant value to the board as the Company progresses its Olaroz Lithium-Potash Project through to development.

Orocobre's Chairman, Mr. James Calaway, was delighted to welcome Mr. Oris de Roa to the Orocobre Board.

"This appointment occurs following a long search for an Argentinean non-executive Director with the right experience and values," Mr. Calaway said.

"Fernando has fantastic experience in growing businesses in the private sector and all that entails in terms of government and community liaison in Argentina. He is a dynamic individual and will provide valuable advice and mentoring to our Argentinean management and wise counsel to our Board."

"We are delighted to welcome Fernando to Orocobre, he is an ideal addition to the outstanding Board we have been developing and we look forward to working together to develop our world class lithium-potash deposits in Argentina."

Mr. Oris de Roa began his 23-year career with large trading company, Continental Grain, in 1970, working in the United States, Spain, Switzerland, Brazil and Argentina and rose through the ranks to be responsible for all of Latin America.

In 1993, Oris de Roa led a group to purchase a struggling lemon producer and processor, S.A. San Miguel, in the northern province of Tucuman and as its Chief Executive is widely credited in turning this company into the largest and most profitable lemon and lemon products company in the world. The process of restructuring included listing S.A. San Miguel on the Buenos Aires Stock Exchange in 1997.

Mr. Oris de Roa has been Chief Executive and significant shareholder of Avex S.A since 2004. From conceptualization and financing, Mr. Oris de Roa developed a state of the art chicken production enterprise now producing 75,000 chickens per day. Avex S.A is now well established and Mr. Oris de Roa is reducing his role in the company.

Mr. Oris de Roa has also held roles as a Director of Patagonia Gold, with special responsibilities relating to community relationships, and as founder of a research group focused on the role of public and private partnerships and best practices for business development.

Mr. Oris de Roa holds a Masters of Public Administration from The Kennedy School of Government at Harvard University.

Paul Crawford
Company Secretary

About Orocobre Limited

Orocobre Limited is listed on the Australian Securities Exchange and Toronto Stock Exchange (ASX: ORE) (TSX: ORL) and is the leading lithium-potash developer in the lithium and potassium rich Puna Lithium Province of Argentina.

For further information, please visit www.orocobre.com.

For more information please contact:
Australia and Asia

Richard Seville
Managing Director
Orocobre Limited
T +61 7 3871 3985
M +61 419 916 338

Gemma Young
FD Third Person
T: +61 8 9386 1233
M: +61 412 349 345
E: gemma.young@fdthirdperson.com.au

North America

James D. Calaway
Chairman Orocobre Limited
T: +1 (713) 366-0301
M: +1 (713)-818-1457

Jessica Wagner
FD
T: +1 (312) 861 4707
M: +1 (646) 258 7439
E: Jessica.wagner@fd.com


Sphere Resources Inc.: Exploration by Li3 Energy, in La Puna, Argentina for the Potential to Host Mineral Rich Lithium, Potassium and Magnesium Brine

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 28, 2010) - Sphere Resources Inc. (TSX VENTURE:SPH.H) ("Sphere" or the "Company") is pleased to note that Li3 Energy Inc. recently announced it has completed a Geophysical study over three targeted areas for potential to host mineral rich lithium, potassium, magnesium, etc, brine aquifers adjacent to the Company's recently acquired interest in Salar de Pocitos in La Puna district of Argentina.

As announced by the Company on April 26, 2010 it has entered into an Agreement with CanAustra Holdings Limited ("CHL") to acquire CHL's 30.25% holding of Salar de Pocitos ("Pocitos") and Salar de Rio Grande ("Rio Grande") in the Province of Salta, North West Argentina. The concessions are well served by infrastructure with access by sealed road and nearby high voltage electricity, gas pipelines and rail with easy access to the Argentinean industrial cities to the south and to the countries to the north. The City of Salta has an international airport with regular services to Buenos Aires.

The Pocitos concession covers an area of 98 km2. A drilling program was carried out over two properties covering 200 ha in 2007.

A qualified person has not done sufficient work to classify any of these resources as current mineral resources.

Pocitos and Rio Grande are located in the elevated and arid Puna region in the north western part of the country close to the Chilean border and form part of a number of highly mineralized Salars in production and development. Within the vicinity are: Salars Cauchari Olaroz, Pocitos, Arizaro and Incahuasi currently owned by Lithium Americas Corp. which recently listed on the TSX.

Salar de Olaroz currently being developed by Orocobre Limited; Salar de Rincon previously owned by Admiralty Resources NL and now being developed by the Sentient Group a private equity investment group specializing in resources; Salar de Hombre Muerto where FMC Corporation has a lithium producing plant; and adjacent and across the border in Chile is Salar de Atacama, the largest Lithium producer in the world.

Mr. Stevens stated, "I'm pleased to see the increased activity near our Pocitos concessions and the recognition by other major players of the significance of the La Puna district. My long involvement in this region for over 15 years is coming to fruition. The momentum is now with those involved in the region's development and this will see the creation of industrial minerals complex(s) over the immediate future involving lithium carbonate, sodium carbonate, sodium sulphate, potassium, borates and other minerals associated with the brines in the various Salars. I am particularly pleased to see Li3 Energy is advancing in Pocitos which is one of the Salars connected to all essential infrastructure, particularly, a natural gas spur pipeline, to make this a success".

About Sphere Resources Inc.

Sphere Resources Inc. is focused on identifying and appropriating exploration targets and other high quality assets in major global mining camps with a particular emphasis on precious metals. It is currently involved in exploring for gold mineralization in the Red Lake District of Ontario.

The proposed transaction remains subject to, among other things, meeting certain milestones, receipt of all requisite regulatory and other approvals, including stock exchange approvals.

On behalf of Sphere Resources Inc

Malcolm L Stevens, Executive Chairman and President

Statements in this press release other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, constitute forward-looking statements. 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 mineral exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.

Neither the NEX Board of 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
Sphere Resources Inc.
Malcolm L Stevens
+34610616548
+61396023554 (FAX)
mls@canaustra.com.au

28 jun 2010

Artha Reports Progress on Rare Earth and Precious Metals Projects


VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 28, 2010) - Artha Resources Corporation (TSX VENTURE:AHC) is pleased to announce that the company continues to make significant progress on its Argentinean exploration projects. Surface programs have recently been completed at the Vallecito and Pirquitas properties in Jujuy Province and reconnaissance work has commenced on the recently staked Cachi property, in western Salta Province, that is highly prospective for rare earth minerals as well as base and precious metals.

Based on the excellent results from the 2009 and early-2010 work programs, detailed follow up exploration is continuing at the Vallecito and Pirquitas properties. At Vallecito, recent detailed mapping and sampling have defined targets with potential for silver-tin-zinc stockwork systems and a separate vein copper system based on geochemistry and surface geology. Final assays are pending from the May-June work. At the Pirquitas property, an IP geophysical survey is underway that will cover targets identified as possible repetitions or extensions of the same structure that hosts the Pirquitas mine, one of the largest primary silver mines in the world located less than 2.5 km away. This exploration will further define priority targets for the upcoming drill programs.

In concert with the progressive work at Pirquitas, Phase 1 reconnaissance work has begun on the newly staked Cachi property, south of Pirquitas. The Cachi property was staked based on the high potential for rare earth metals including lithium.

Cachi Rare Earth Property.

The Cachi property covers an area in excess of 55,000 hectares or 212 square miles and is located 160 km west of Salta city, the capital of Salta Province. The geology of the property is prospective for pegmatite related rare earth mineralization, based on extensive granitoid intrusions, extending for over 40 km in strike, with large (up to 300 m wide) pegmatite dykes intruding neo-proterozoic gneiss. Many pegmatites have been found to be economically valuable as sources of clays and feldspars, as well as bismuth, lithium, molybdenum, rare-earths, tantalum-niobium, thorium, tin, tungsten, and uranium minerals.

Initial reconnaissance exploration, including stream sediment sampling and mapping, was completed in mid-June. This work identified three targets based on surface alteration halos. Assays are now pending from the 129 stream sediment samples collected which will be analysed for rare earth, precious and base metals. Detailed mineralogical studies will be completed on the granitoids and pegmatite samples collected, providing information on their rare earth prospectivity. Artha is the first company to explore this area for minerals.

Further news will follow once final assays have been received for all work programs recently completed. Work programs are continuing on the Pirquitas and Cachi projects and drilling is being planned.

Charles Straw, B.Sc., is the qualified person under NI 43-101 responsible for the technical information in this news release.

About Artha

Artha was founded by a team of mining industry professionals with a proven track record in project generation, exploration, mining and finance. The Company's principle exploration target adjoins Silver Standards Pirquitas Mine, one of the largest primary silver mines in the world located in the province of Jujuy in NW Argentina. Artha is one of the largest mineral explorers in this region with over 900 square kilometers of properties prospective for silver, gold, base metals and rare earths.

On Behalf of the Board of Directors,

Todd McMurray, President

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

For more information, please contact
Artha Resources Corporation
Todd McMurray
President, Director
604-648-1530
todd@artharesources.com
www.artharesources.com
or
BK Consulting
Carey Lotz
1-888-648-6242
carey@artharesources.com

26 jun 2010

Golden Peaks Cuts 28 Meters of 0.60 Percent Copper at La Fortuna Gold Project, Argentina


VANCOUVER, June 21 /CNW/ - Golden Peaks Resources Ltd. (TSX: GL) (the "Company") is pleased to report copper assays from holes LF-142, LF-143 and LF-144 drilled on the T-11 zone of its La Fortuna Gold Project, Argentina.



Significant copper mineralization in the form of chalcopyrite is associated with the gold mineralization in holes LF-142, LF-143 and LF-144. Hole LF-143 cut 28 meters grading 0.60% copper including 3 meters grading 1.71% copper. Hole LF-144, drilled east of LF-143 and at approximately the same elevation, cut 13.5 meters grading 1.05% copper, 7.0 g/t gold and 9.7 g/t silver, starting at surface.




(http://www.goldenpeaks.com/s/Image.asp?i=maps/2010-04-20_NRM.jpg&id=395748)

The presence of significant gold, copper and silver indicates a change in the character of the mineralization at the east end of the T-11 zone. The shallow, high grade, gold-copper mineralization intersected in holes LF-142, LF-143 and LF-144 remains open to the east where surface samples indicate a previously unrecognized gold bearing structure (NR April 20,2010).

The Company believes this undrilled area may contain significant gold-copper mineralization at shallow depths ((less than)100 meters).The drilling at La Fortuna continues to return excellent results. These holes along with all the holes (91) in the area show a persistence in gold mineralization along 1.4 km of structure.

Mineralization at the La Fortuna project occurs as a series of northwest-trending parallel vein zones, breccias and mineralized faults hosted within a broad, northwest trending regional fault zone. The mineralization has not yet been drilled at significant depths and the Company is optimistic regarding the potential for additional discoveries in the T-11 zone.

Chairman Scott Emerson said "The shallow, high grade gold-copper-silver mineralization is a significant contribution to the value per tonne of the mineralization and is an important development in the advancement of the La Fortuna project".

The diamond drill contractor is Energold Drilling Corp. A lightweight, portable drill is being used to minimize environmental impact. All samples are being assayed by Alex Stewart (Assayers) Argentina S.A.

This press release has been reviewed and approved by Dr. Kieran Downes, P.Geo., President of Golden Peaks Resources Ltd. and a Qualified Person as defined by National Instrument 43-101, under whose direction the exploration programs are being carried out.

The statements herein that are not historical facts are forward-looking statements. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed under the heading "Risk Factors" in the company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

For further information: Media Information, contact: Scott Emerson, Chairman and Director, SE@goldenpeaks.com; Investor Information, contact: Mike Kordysz, Investor Communications, MK@goldenpeaks.com


Malbex Releases Geological Report by Dr. Richard Sillitoe on Potential of Del Carmen Norte


TORONTO, ONTARIO--(Marketwire - June 24, 2010) - Malbex Resources Inc. (TSX VENTURE:MBG) today announced that Dr. Richard H. Sillitoe, one of the world's leading experts in epithermal and porphyry deposits, recently visited the Company's Del Carmen Norte gold-silver prospect in San Juan province, Argentina. Dr. Sillitoe completed a reconnaissance study of drill core from each of the seven targets drilled by Malbex in the recently completed field program. In his report, Dr. Sillitoe concludes that the central massif of Del Carmen Norte has the greatest potential for economic high-sulphidation epithermal gold-silver (Au-Ag) mineralisation due to the combination of the known gold-silver mineralisation in widespread zones of strong silicification ("siliceous ledges") with supergene sulphide oxidation to at least 160 m depth. Malbex will undertake preliminary metallurgical tests over the coming months to test Dr. Sillitoe's hypothesis that "...any precious metal ore that may be present in the oxidised ledges should prove amenable to gold recovery by cyanidation".

Dr. Sillitoe's report is not a "Technical Report" as defined under NI 43-101 but describes his preliminary findings on the Company's flagship project. The full report, entitled "Geology and Potential of Del Carmen Norte Gold-Silver Prospect, San Juan Province, Argentina", is available at www.malbex.ca/Projects/Del_Carmen.

"Having worked previously with Dr. Sillitoe when he consulted on Aurelian Resources' Fruta del Norte deposit in Ecuador, our expectations for his visit were high," said Dr. Peter Stewart, Vice-President Exploration. "We are very pleased with his initial findings and positive recommendations. We are particularly excited by his emphasis on the potential for bulk-tonnage mineralisation in the central part of the system and the possible extension of alteration and mineralisation below the steam-heated zone to the south-west. In addition, his observation that all notable Au-Ag mineralisation in our drill core is oxidized and therefore likely to be amenable to simple heap-leach processing is particularly encouraging for the discovery of economic concentrations of gold at Del Carmen Norte in the future. We look forward to incorporating his recommendations when our field programs resume in October."

Dr. Sillitoe visited the Del Carmen Norte project in late April. The site visit was followed by three days of re-logging key drill holes in order to understand the style of hydrothermal alteration and extent and potential of precious metal mineralisation at the various targets drilled in the large (approximately 9 km2) Del Carmen Norte high sulphidation alteration system. His comments and interpretation confirm the alteration model developed by Malbex geologists of mainly structurally controlled silicification enveloped successively by quartz-alunite and quartz-kaolinite (advanced argillic) and then barren clay-pyrite alteration zones. He also records previously unrecognized features in the core, most notably clasts in hydrothermal breccias with truncated porphyry-style quartz veinlets, which suggest the potential for porphyry gold/copper mineralisation underlying the high sulphidation system at Del Carmen Norte.

Significant findings in Dr. Sillitoe's report include:

* Most known mineralisation occurs in steep to moderately dipping siliceous ledges (Cresta del Gallo, Breccia Limite, Ladera Sur) but some type of lithological control (breccias vs tuffs and flows) is evident in the larger, shallow dipping Rojo Grande ledge.
* All ledges have undergone deep supergene sulphide oxidation, including to the maximum vertical extent of Malbex drilling at Rojo Grande.
* While most known mineralisation is described to be restricted to vuggy silica and intensely silicified rocks, his study was conducted before receipt of assays for the final five holes drilled in the last campaign. Hole DDHC-10-032 returned 142 m grading 0.88 grams per tonne gold (g/t Au) and 13.7 g/t silver (Ag) (see Malbex press release of 31 May 2010), including the lowermost 40 m that averages 1.45 g/t Au and 19.6 g/t Ag and which is hosted by hydrothermal breccias with quartz-alunite alteration (Figure 1, updates Figure 3 in the report by Dr. Sillitoe).
* Although silicification (ledge development) is less intense at Naciente Quebrada Pedregosa than at Rojo Grande, higher grades of Au-Ag mineralisation in hydrothermal breccias with quartz-alunite alteration suggest potential for late-stage, post-ledge ore as mined in the Orcopampa district in Peru.
* The central parts of Del Carmen Norte (Rojo Grande and Quebrada Pedregosa sectors) have the greatest potential for high-sulphidation epithermal Au-Ag mineralisation and this may continue beneath the barren, steam-heated alteration zone exposed at higher elevations to the southwest.
* Sparsely distributed, banded quartz veinlets of porphyry gold type (particularly in the Quebrada Pedregosa sector) may indicate porphyry gold-copper mineralisation at depth beneath the high-sulphidation hydrothermal system.
* At least two deep holes are recommended to investigate for underlying porphyry-type mineralisation as has been discovered by Exeter Resources at Caspiche in the Chilean Maricunga Au-Cu belt.

Del Carmen Geology and Work Program

The 147 km2 Del Carmen concession package is located near the southern end of the El Indio Gold Belt, and hosts the Del Carmen Norte and Del Carmen Sur hydrothermal alteration systems. Del Carmen Norte is a large high sulphidation epithermal gold-silver system that covers approximately 9 km2. The initial interpretation of the geology at Del Carmen Norte is of a generally sub-horizontal volcanic stratigraphy where lithologies favourable for silicification and mineralisation are sandwiched between less favourable volcanic layers, and cut by steep faults that strongly influenced hydrothermal fluid flow.

In addition to the 4,710 m (32 hole) diamond drilling program, mapping and rock chip sampling, 128 km of ground magnetometer and 14.1 km of controlled source audio-magneto-telluric surveys (CSAMT) were completed at Del Carmen Norte in the just-completed field campaign. CSAMT surveying is employed to identify zones of enhanced resistivity due to hydrothermal silicification within high sulphidation epithermal systems and to aid in identifying buried drilling targets.

A second, less exposed, high sulphidation epithermal system occurs at Del Carmen Sur some 5 km to the south of Del Carmen Norte. Geological mapping, sampling and mechanical trenching were conducted at Del Carmen Sur in the recently completed field season.

Peter Stewart, PhD, Vice-President Exploration of Malbex Resources Inc., is a Professional Geoscientist in the Province of Ontario, and is the Qualified Person as defined by NI 43-101 responsible for the technical information presented in this news release.

About Malbex

Malbex Resources Inc. is a gold exploration company led by experienced management and directors. Malbex holds an indirect 100% interest in three exploration projects in Argentina's El Indio Gold Belt, which hosts over 40 million ounces of gold in past production and current reserves. Two of the projects are in close proximity to Barrick's Veladero and Pascua-Lama gold deposits. For more information, please visit www.malbex.ca.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements about strategic plans, spending commitments, future operations, results of exploration, anticipated financial results, future work programs, capital expenditures and objectives. Forward-looking information is 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 information, including the risks identified in the Company's annual information form under the heading "Risk Factors". There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

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) 628-0215
or
Malbex Resources Inc.
Marla Gale
VP Investor Relations
(416) 628-0215
ir@malbex.ca
www.malbex.ca


Peregrine Drills 56 Metres of 1.20% Cu, 92 Metres of 0.90% Cu and 86 Metres of 0.84% Cu at Altar; Copper Column Leach Tests Underway

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 24, 2010) - Peregrine Metals Ltd. ("Peregrine" or "the Company") (TSX:PGM) is pleased to report copper assay results from the recently completed 2010 drilling programme at the large Altar porphyry copper-gold deposit ("Altar") in San Juan Province, Argentina. In this third set of results from nine of 76 holes drilled this year, long intervals of copper mineralization were intersected in the chalcocite-covellite zone where the Company is working to confirm a leachable copper resource, and below this zone to depths of 577 metres. Previously received assay results for a total of 15 holes were released by Peregrine on June 2nd and June 10th, 2010 and the news releases can be viewed at www.pmet.com. The resource definition work is part of the Preliminary Economic Assessment ("PEA"), scheduled for completion this year on a large-scale, Solvent Extraction/Electrowinning ("SX/EW"), copper heap leaching operation. Final assay results from the remaining 52 holes from this year's drilling will continue to be reported in groups on a regular basis as they are received. Drilling is expected to re-commence at Altar this November.

Of particular note were intercepts in angle hole ALD-85 of 1.195% Cu over 56 metres and 0.842% Cu over 86.0 metres. ALD-85 is a step-out hole 200 metres to the north of hole ALD-43, which was drilled in 2008 and returned 0.718% Cu over 718.9 metres. In addition, 92 metres of 0.896% Cu were intersected in angle hole ALD-99, located 100 metres south of ALD-43. Holes ALD-91, 94, 96 and 97, which were step-out holes drilled to test the outer limits of the global copper resource, also returned copper mineralization.

A summary of the nine drill holes reported today is provided in the table below, with intersections of particular interest occurring in the potentially leachable zone highlighted in bold text. These results, as well as select previously released intersections, can be viewed on a map, along with the drill hole locations, at www.pmet.com/i/pdf/altar711.pdf.




Reported intersections begin directly beneath the leached capping. All copper grades are total copper. Copper intersections at less than a 0.20% copper cut-off grade are not reported. Mixed copper mineralization may contain both chalcocite-covellite and chalcopyrite-bornite mineralization.

METALLURGICAL TESTWORK UPDATE

A 627 kilogram shipment of whole, un-split HQ (6.4 cm) drill core samples from five drill holes is being utilized by McClelland Laboratories, Inc. in Sparks, Nevada, for the initial phase of metallurgical test-work, which includes copper column leach tests. Peregrine's metallurgical consultant, Dr. Joseph Schlitt, is currently providing technical guidance over this work, and preliminary metallurgical results are expected during the third quarter. The core sample intervals have been composited to provide 260 kilograms of material for 13 column leach tests that are designed to study the relationships of host lithology, ore grade and solubility to recovery and acid consumption and to evaluate optimal crushing sizes. The column leach testing began in mid-June, and will run for up to 120 days. An additional six column tests on a total of 120 kilograms of drill core samples recovered from the mixed copper mineralization zone, which may contain both chalcocite-covellite and chalcopyrite-bornite mineralization, have begun and will run for up to 180 days. Scoping flotation testing will also be conducted on 25 kilograms of the same drill core composites that were prepared for the column leach tests.

An additional 42 kilograms of metallurgical core samples are undergoing comminution tests to determine the crushing index, abrasion index and ball mill index for the three host lithologies to the copper mineralization at Altar. This testwork is being performed by Philips Enterprises LLC in Golden, Colorado, also under the direction of Dr. Schlitt.

ALTAR PROJECT SUMMARY

Altar is a large, Miocene-age porphyry copper deposit located within the belt of world-class porphyry copper deposits that includes El Teniente, Los Bronces-Rio Blanco, and Los Pelambres-El Pachon. The alteration zone at Altar encompasses an area measuring more than three by two kilometres, with a strong, coincident induced polarization (IP) geophysical anomaly of approximately the same size. The copper mineralization within the upper 300 metres of the deposit includes both supergene digenite-covellite and hypogene chalcocite-bornite replacing earlier chalcopyrite. As announced on April 1, 2010, an independent NI 43-101 Measured and Indicated Resource of over 2.87 billion pounds of copper (251 million tonnes grading 0.52% Cu) and an Inferred Resource of over 2.93 billion pounds of copper (244 million tonnes grading 0.54% Cu) at a 0.4% Cu cut-off grade have been currently identified at Altar based on only the first 64 holes drilled into the deposit prior to the 2010 drill programme.

The two major goals of the 2010 drilling programme at Altar are to further define the higher-grade, chalcocite-covellite zone which appears to be amendable to heap leaching, and to expand the global copper resource. The 2010 drilling programme and associated PEA have been designed to confirm a leachable copper resource and increase the size and confidence level of the global porphyry copper resource.

All of the Altar drill core is being sampled in continuous two-metre intervals, with half of the core submitted for assay and the other half archived in the Company's secure storage facility. Drill core samples are prepared and assayed by Acme Analytical Laboratories, at their facilities in Mendoza, Argentina and Santiago, Chile as well as by Alex Stewart (Assayers) Argentina S.A., located in Mendoza, Argentina. Copper values are determined by multi-element Induced Coupled Plasma and Atomic Absorption methods.

Peregrine has a comprehensive and rigorous quality assurance/quality control ("QA/QC") programme in place that employs certified assay standards, blanks and core duplicates, as well as routine check assays at a separate secondary laboratory.

Peregrine holds a 100% interest in the Altar project subject to a 1% NSR royalty granted to Rio Tinto and another 1% NSR royalty granted to the underlying concession owner that may be purchased by the Company at any time for US $1 million.

Jeff Toohey, M.Sc., P.Eng., Vice President, Exploration for the Company, is a Qualified Person as defined by NI 43-101 and is responsible for the design and implementation of the exploration work being carried out by the Company at the Altar Project. Mr. Toohey has reviewed this press release and approves of its content.

Cautionary Note Regarding Forward-Looking Statements

This news release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation. Such forward-looking statements concern the Company's anticipated results and developments in the Company's operations in future periods, planned exploration and development of its properties, planned expenditures and plans related to its business, mineral resource estimates and other matters that may occur in the future. These statements relate to analyses and other information that are based on expectations of future performance and planned work programmes.

The Company has made a number of assumptions with respect to, among other things, the price of copper and other metals, economic and political conditions, and continuity of operations. Although the Company believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that forward-looking statements will prove to be accurate.

Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ materially from those expressed or implied by the forward-looking statements, including, without limitation, risks related to the following: fluctuations in mineral prices; the Company's dependence on one mineral project; the nature of mineral exploration and mining and the uncertain commercial viability of certain mineral deposits; the re-allocation of the proposed uses of the net proceeds of the offering and the private placement; the Company's lack of operating revenues; uncertainty in the Company's ability to obtain necessary financing to fund the development of its mineral properties or the completion of further exploration programmes; the Company's principal property being located in Argentina, including political, economic, and regulatory instability; governmental regulations and obtaining necessary licenses and permits; the Company's mineral properties being subject to prior unregistered agreements, transfers, or claims and other defects in title; fluctuations in the currency markets (particularly the Argentina peso, Canadian dollar and United States dollar); the business being subject to environmental laws and regulations which may increase costs of doing business and restrict the Company's operations; and the Company's dependence on key personnel.

Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking statements. The Company's forward-looking statements are based on beliefs, expectations and opinions of management on the date the statements are made. For the reasons set forth above, investors should not place undue reliance on forward-looking statements.

For more information, please contact
Peregrine Metals Ltd.
Mr. Eric Friedland
President
(604) 669-8800
or
Peregrine Metals Ltd.
Mr. Michael Westerlund, Vice President,
Investor Relations and Corporate Communications
(604) 669-8800
(604) 408-8881 (FAX)
info@pmet.com
www.pmet.com

24 jun 2010

Lithium One Reports Favourable Drill Results from Sal de Vida Brine Project: Two Test Wells Confirm Brine-Bearing Aquifers to 60 Metres Depth



Highlights

- Two Test Wells Yield Lithium Values of 706 mg/L and Potassium Values of 0.58%

- Wells Developed to 60 Metres Depth to Supply Brine for 12-Month Evaporation Tests. Deeper Drill Tests are Pending.

- Brine-Saturated Sand AND Salt Aquifers Encountered

- Favourable Brine Chemistry Continues - Low Mg:Li and Sulfate to Lithium Ratios

- Core Drill Mobilized to Property for Discrete Depth Porosity and Brine Testing

VANCOUVER, CANADA--(Marketwire - June 22, 2010) - Lithium One Inc. (the "Company") (TSX VENTURE:LI), is pleased to announce the first results from the well drilling program at the Sal de Vida Lithium Brine project at Salar del Hombre Muerto, Argentina (the "Project"). Results from the first two rotary drill holes on the Project have confirmed the presence of lithium – potassium brine-bearing aquifers to a minimum depth of 60 metres. Two test wells have been developed to supply brine for evaporation testing, pump tests, and other chemical tests. The brine concentrations averaged 706 mg/L (590 ppm) lithium and 6,900 mg/L (0.58%) potassium, and have a 2.1 magnesium to lithium (Mg:Li) ratio. These results confirm a significant third dimension to surface brines sampled by Lithium One on the Project. The brine chemistry in the first test wells compares favourably to Roskill's (2009) estimates for FMC Corporation's adjacent Fénix lithium mine: 600 to 650 ppm Li and Mg:Li of 1.5.

Lithium One President and CEO, Patrick Highsmith commented, "These latest developments have justified the launch of an accelerated program at Sal de Vida. The results from these test wells in one small portion of the basin demonstrate the significant volumetric potential of the lithium and potash-rich brines we have been sampling at surface. We have set an aggressive timeline with Korea Resources Corporation, our new partner, and we are commencing core drilling and pan evaporation tests immediately to meet that timeline."

As announced on June 4th, 2010 (NR 10-06), Lithium One and Korea Resources Corporation ("KORES") have entered into an Evaluation Option and Joint Venture Agreement (the "Agreement"), under which KORES has the option to earn a 30% interest in the Project by funding and delivering a Definitive Feasibility Study and funding other pre-development exploration and prefeasibility activities totalling up to US $15 million. Under the Agreement, KORES is to provide a Project Completion Guarantee, securing the debt portion of the Company's 70% share of Project development costs. The Agreement also contemplates that the parties will negotiate an off-take agreement that will grant KORES rights to purchase up to 50% of the lithium products at market prices. Additionally, KORES has entered into a memorandum of understanding with GS Caltex and LG International, which provides for each company to hold a 10% interest in the joint venture company to be formed upon exercise of the option, subject to the execution of a definitive agreement.

Drill Program Results

The initial rotary drill program at Sal de Vida consisted of up to 10 rotary drill holes, targeting depths between 50 and 100 metres. The first holes were located in the southwest portion of the property, in an area referred to as the "South Basin". Two holes have been drilled to target depth and developed as test wells. Both of the test wells penetrated near-surface, saturated, sandy aquifers; and one of the two wells encountered halite (table salt) from approximately 35 metres depth. This is the first known drill intercept of halite on the eastern side of Hombre Muerto. FMC's neighbouring Fénix lithium mine produces much of its lithium brine from thick deposits of halite.

The drilling encountered brine-saturated stratigraphy; and the wells were developed to allow sampling from discrete intervals. The use of casing and grout facilitated brine pumping from the targeted horizons in the aquifer. In the drill holes reported below, the sample intervals are from 0 to 30 metres and 30 to 60 metres. The crew pumped large volumes from each interval while measuring parameters such as density and conductivity until readings stabilized, before collecting approximately 4 to 5 litres of brine for analysis. After collecting and analyzing samples from 5 discrete depths within the upper 30 metres of the first well, the brine was shown to be well-mixed with only minor stratification over these intervals based on density. Subsequent intervals were tested with 1 to 3 larger volume samples over the 30 metre intervals. The results for the first two wells are summarized below.




These encouraging results are being followed up with a core drilling program designed to test porosity and brine chemistry at discrete intervals in up to 30 drill holes throughout the property. A custom-modified core drill mobilized to the site June 14. The core drilling and sampling procedures will be supervised by EL Montgomery & Associates, consulting hydrologists based out of Tucson, AZ and Santiago, Chile.

Geophysical logging of selected drill holes by natural gamma, neutron, density, and/or sonic methods will follow as the reservoirs are thoroughly characterized and resources calculated.

Please refer to the Lithium One website (www.lithium1.com) for additional discussion of these results, maps and figures portraying these data and photos from the field.

Quality Control

The brine samples from Sal de Vida have been analyzed by Alex Stewart Assayers of Mendoza, Argentina by dilution and direct aspiration atomic absorption. Alex Stewart's Mendoza lab is accredited to ISO 9001:2008 and ISO14001:2004 for its geochemical and environmental labs for the preparation and analysis of different sample media, including waters and brines.

Analytical quality is monitored through the use of randomly inserted quality control samples, including standards, blanks and duplicates, as well as check assays at an independent lab. The performance of the standards, blanks, and duplicates associated with these data indicate acceptable analytical quality. Please refer to the NI 43-101 Technical Report dated March 5th, 2010, titled "Technical Report on the Sal de Vida Lithium Project, Salar de Hombre Muerto, Catamarca Argentina" and filed on SEDAR, for further discussion of quality control procedures and other information regarding the Project.

Project Work Plan for Third Quarter

The systematic evaluation of the Sal de Vida Brine Project continues according to the $15 million work program approved by the Company and its new partner, KORES. KORES is earning into the project by funding this program, retroactive to May 7, 2010 and through delivery of a definitive feasibility study in approximately 15 months.

Activities scheduled for the third quarter of 2010 include: core drilling for brine analysis and porosity testing, monitoring and sampling of the 12-month pan evaporation tests, geophysical surveys, environmental impact reporting, and an environmental baseline study.

Review by Qualified Person

The contents of this news release, analytical data, and quality control procedures have been reviewed and approved by Dr. Jeffrey Jaacks. Dr. Jaacks is a Certified Professional Geologist (C.P.G.) with the American Institute of Professional Geologists (CPG# 11249) and a qualified person as defined by NI 43-101. He is an independent consultant to the Company, holding no shares or options.

Corporate Update

Pursuant to the Company's stock option plan, the Company has granted 850,000 incentive stock options to directors, officers, and consultants of the company, with each option exercisable at $1.02 per share until June 22, 2013. The options vest immediately and are subject to a four month hold period.

The Company further advises that the AGM date of July 20th has been postponed, with a new date yet to be determined.

About Lithium One:

Lithium One Inc. is a Canadian-based explorer and developer of mineral properties with a specific focus on lithium. The Company has two major lithium projects: the brownfields Sal de Vida lithium brine project in Argentina and the James Bay bulk tonnage spodumene project in Quebec. Korea Resources Corporation (KORES) is earning a 30% interest in the Sal de Vida project by funding up to US$15 million to complete a Definitive Feasibility Study, and has also provided a completion guarantee for Lithium One's share of the debt portion of the capital development costs. The Company continues to advance both its projects toward resource definition, expecting NI 43-101 compliant resource estimates during the second half of 2010. Lithium One believes that lithium demand will grow as its value as a preferred battery material is fully realized. The Company's strategy is to draw upon its quality team and employ best-practice to develop its portfolio of top-tier lithium assets.

ON BEHALF OF THE BOARD OF DIRECTORS,

Patrick Highsmith, M.Sc., President and Chief Executive Officer

Forward-Looking Statements

This document may contain "forward-looking information" within the meaning of Canadian securities legislation (hereinafter referred to as "forward-looking statements"). All statements, other than statements of historical fact, included herein including, without limitation statements relating to; the completion of a Feasibility Study, the entering into of marketing and off-take agreement, the provision of a Completion Guarantee, the timing for completion of an NI 43-101 compliant resource and other matters related to the exploration and development of the Project, are forward-looking statements. These forward-looking statements are made as of the date of this document and the Company does not intend, and does not assume any obligation, to update these forward-looking statements. Forward-looking statements relate to future events or future performance and reflect management's expectations or beliefs regarding future events. By their very nature forward-looking statements 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 the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include unsuccessful exploration results, changes in metals prices, changes in the availability of funding for mineral exploration, unanticipated changes in key management personnel and general economic conditions, title disputes as well as those factors detailed from time to time in the Company's interim and annual financial statements and management's discussion and analysis of those statements, all of which are filed and available for review on SEDAR at www.sedar.com. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative of these terms or comparable terminology. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking 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.

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
Investor Inquiries:
Lithium One Inc.
Robert Orr
604-697-6259
604-408-4799 (FAX)
ro@lithium1.com
or
Media Inquiries:
Lithium One Inc.
Chantelle Krish
604-681-1407
604-681-9816 (FAX)
media@lithium1.com
www.lithium1.com

Marifil Enters Into San Roque Agreement With NovaGold


NovaGold to Spend $9 Million to Earn a 70% Interest


LAS VEGAS, NEVADA--(Marketwire - June 23, 2010) - MARIFIL MINES LTD. (TSX VENTURE:MFM) ("Marifil" or "the Company") announces that it has entered into an Option Agreement ("Agreement") with NovaGold Resources Inc. ("NovaGold"), a Canadian corporation, whereby NovaGold can earn up to a 70% interest in Marifil's San Roque Project in Rio Negro Province, Argentina.

"I'm very pleased to announce this agreement to our shareholders," stated John Hite, President of Marifil Mines. "Under this agreement we will advance this promising project and receive cash-flow to fund other operations, exploration and potential acquisitions. This agreement fits our business model of finding good projects, adding value and bringing in well-funded senior partners to develop properties. This strategy is one that we believe makes Marifil a compelling investment opportunity. We are particularly pleased to have NovaGold as our partner because of their strong balance sheet and track record of exploration success."

The San Roque project comprises eleven claims totalling 70,046 hectares. Three of the claims are owned by MIM Exploraciones SA ("MIM"). Marifil has the right to purchase a 100% interest in these claims for $400,000.

Under the terms of the Agreement ,NovaGold has an option to acquire a 49% interest by spending $3,000,000 during the first two years of the Agreement (including making the $400,000 payment to MIM) and paying Marifil $100,000 per year. After earning its 49% interest, NovaGold can earn an additional 2% interest by committing to a Phase 2 program. During the Phase 2 program NovaGold shall spend an additional $6,000,000 over the next three years and pay Marifil $100,000 per year to earn an additional 19% interest, bringing its total interest to 70%. All further expenditures shall be shared 70% NovaGold and 30% Marifil. The Agreement remains subject to completion of satisfactory due diligence by NovaGold.

The San Roque property contains a large sulphide system defined by an induced polarization ("IP") survey and widespread drilling over an area measuring at least 3 kilometres by 4 kilometres. This area is the site of a coincident lead-zinc-gold-silver anomaly in soils and the IP geophysical anomaly. Marifil believes this mineralization lies within a collapsed caldera or diatreme structure. Widespread mineralization occurs throughout the volcanic rock types present within the postulated caldera/diatreme and mineralization also extends into the underlying basement schists.

The infrastructure is especially favourable at San Roque. The climate is mild and work can be carried out all year; the terrain is relatively flat, generally with elevations only 200 to 300 m above sea level; and abundant water is nearby. The property is located in a region with a large, skilled workforce and is accessible by a paved highway. A railroad crosses the south boundary of the claims, cheap hydroelectric power is available, and a deep water ocean port lies just 65 kilometers to the east.

Drilling by Marifil reveals significant disseminated and stockwork galena and sphalerite (ores of lead and zinc) mineralization containing gold, silver, and indium. Marifil believes mineralization at San Roque is analogous to the giant Penasquito deposit in Mexico, now being mined by Goldcorp, and the Camino Rojo and San Augustin deposits, also in Mexico. The Montana Tunnels deposit in western Montana is also a similar geologic model.

To learn more about Marifil Mines Ltd., please refer to the Company's filings available on SEDAR at www.sedar.com or at Marifil's website at www.marifilmines.com.

This press release has been reviewed and approved by John Hite, President of Marifil Mines Ltd. and by Richard Walters, Vice President under whose directions the exploration program is being carried out. Mr. Hite and Mr. Walters are Qualified Persons as defined by National Instrument 43-101.

General Disclaimer

Marifil Mines Ltd. "Marifil" has taken all reasonable care in producing and publishing information contained in this news release, and will endeavor to do so on a periodic basis. Material in this news release may still contain technical or other inaccuracies, omissions, or typographical errors, for which Marifil assumes no responsibility. Marifil does not warrant or make any representations regarding the use, validity, accuracy, completeness or reliability of any claims, statements or information on this site. Under no circumstances, including, but not limited to, negligence, shall Marifil be liable for any direct, indirect, special, incidental, consequential, or other damages, including but not limited to, loss of programs, loss of data, loss of use of computer of other systems, or loss of profits, whether or not advised of the possibility of damage, arising from your use, or inability to use, the material from this news release. The information is not a substitute for independent professional advice before making any investment decisions. Furthermore, you may not modify or reproduce in any form, electronic or otherwise, any information on this site, except for personal use unless you have obtained our express written permission.

Forward-Looking Statements

This news release may contain forward-looking statements, including but not limited to comments regarding geologic models and estimates of mineralization within the San Roque property and other predictions and projections. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

For more information, please contact
Marifil Mines Ltd.
John Hite
President
509.467.5200
or
Marifil Mines Ltd.
Hugh Oswald
Investor Relations
604.684.4743 ext. 243
hugh@ascentacapital.com
www.marifilmines.com