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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.

21 may 2011

U3O8 Corp. Files NI 43-101 Technical Report on the Laguna Salada Project, Argentina


TORONTO, ONTARIO--(Marketwire - May 20, 2011) -U3O8 Corp. (TSX VENTURE:UWE), a Canadian-based company focused on exploration and resource expansion of uranium and associated commodities in South America, reports the filing of the National Instrument 43-101 ("NI 43-101") Technical Report on the Laguna Salada Project in Chubut Province, Argentina, following the company's press release on April 7, 2011 that announced the uranium- vanadium resource estimate on this project as follows:

Uranium:

* Indicated Resource: 6.3 million pounds ("mlbs") U3O8 (47 million tonnes at a grade of 60ppm U3O8);
* Inferred Resource: 3.8mlbs U3O8 (21 million tonnes at a grade of 85ppm U3O8);

Vanadium:

* Indicated Resource: 57mlbs V2O5 (47 million tonnes at a grade of 550ppm V2O5); and
* Inferred Resource: 27mlbs V2O5 (21 million tonnes at a grade of 590ppm V2O5).

Laguna Salada is a low-grade prospect with a number of positive attributes for a potentially low-cost mining project including excellent beneficiation features that can increase the uranium and vanadium grades by four to 12 times through simple and inexpensive screening (see U3O8 Corp's press releases dated April 7, 2011 and March 2, 2011.) For uranium, this would lead to a head grade of approximately 550-580 ppm U3O8 – typical of head grades of similar deposits elsewhere in the world1. The mineralized layer at Laguna Salada lies near the surface of flat-topped mesas and mining could simply lower the profile of the mesas. The uranium-vanadium occurs in soft, unconsolidated gravel that should require no blasting and crushing. Acid leach tests yielded good recoveries of both metals. Metallurgical test work on both acid and alkaline leach is ongoing.

Mineralization remains open in both the Guanaco and Lago Seco areas of Laguna Salada. Further resource growth will be investigated through the exploration of possible extensions to the Laguna Salada Project as well as through exploration of similar targets in Santa Cruz Province in southern Argentina.

A summary of the resource estimates in the Laguna Salada Project is shown below. The recommended cut-off grades for the two mineralized areas, taking into account their distinct beneficiation characteristics, are: 25ppm U3O8 for Guanaco and 100ppm U3O8 for Lago Seco.



The NI 43-101 Technical Report is dated May 20, 2011 and titled "Laguna Salada Project, Chubut Province, Argentina, NI 43-101 Technical Report on Laguna Salada, Initial Resource Estimate". The report can be viewed on SEDAR at www.sedar.com and on the company's web site at www.u3o8corp.com. The report was undertaken by Mr. Neil Inwood, a Member of The Australasian Institute of Mining and Metallurgy, is employed by Coffey Mining Pty Ltd, and visited the Laguna Salada site in May 2010. Mr. Inwood has sufficient experience which is relevant to the style of mineralization and 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 Mineral Resources and Reserves" and as a "qualified person" for purposes of NI 43-101. The disclosure contained in this news release relating to the Mineral Resource set forth above has been prepared under the supervision of, and verified by, Mr. Inwood and is included herein with his consent.

All other scientific and technical information contained in this news release has been prepared under the supervision of, and verified by Dr. Richard Spencer, P. Geo, President & CEO of U3O8 Corp., a "qualified person" within the meaning of NI 43-101.

About U3O8 Corp.

U3O8 Corp. is a Toronto-based exploration company, focused on exploration and resource expansion of uranium and associated commodities in South America – a promising new frontier for uranium exploration and development. U3O8 Corp. has one of the most advanced portfolios of uranium projects in the region comprising NI 43-101 resources in Guyana and Argentina to significant historic resources in Colombia.
(1) Similar deposits elsewhere in the world such as Langer Heinrich typically have a mill feed grade of 500- 600ppm after beneficiation. These deposits have not been independently verified by U3O8 Corp. and information regarding these deposits is drawn from publicly available information.

Forward-Looking Statements

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of U3O8 Corp., including, but not limited to, the possibility that the open-pit mining ban in Chubut Province may not be lifted or amended on terms that would allow for mining of the Laguna Salada Project, the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of exploration results and estimates and that the resource potential will be achieved on exploration projects, currency fluctuations, dependence upon regulatory approvals, the accuracy on which resource calculations are based, actual mineralization differing from resource estimates, and the uncertainty of obtaining additional financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed 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.

TNR Gold Corp.: International Lithium Corp. Listing Date


VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 20, 2011) - TNR Gold Corp. ("TNR") (TSX VENTURE:TNR) and wholly-owned International Lithium Corp. ("ILC") (TSX VENTURE:ILC)(TSX VENTURE:ILC.WT) (jointly the "Company") are pleased to announce effective at the opening May 24, 2011, the Shares and Warrants of ILC will commence trading on TSX Venture Exchange.

Key Highlights:

* At the opening on May 24, 2011, International Lithium Corp. will commence trading on the TSX Venture Exchange under the trading symbol ILC;
* Newest Lithium and Rare Metals public company possessing a highly regarded drill ready portfolio of projects;
* 65,901,354 common shares of ILC will be issued and outstanding, of which 27,230,087 common shares will be escrowed;
* Notable share owners of ILC are TNR at 29%, Jiangxi Ganfeng Lithium Co. Ltd. at 9.99% and Non-Executive Chairman Kirill Klip at 10.5%; and
* 12,243,500 Units of ILC sold in related financing for gross proceeds of $3,060,875 representing an over-subscription of 2,243,500 Units.

International Lithium Corp. (TSX VENTURE:ILC) New Listing

Effective at the opening on May 24, 2011, the Shares and Warrants of International Lithium Corp. will commence trading on the TSX Venture Exchange under the trading symbol ILC upon successful completion of a Plan of Arrangement involving a restructuring of TNR Gold's business and assets in order to spin-out its lithium and rare metals mineral property interests.

In order to complete the Plan of Arrangement, a minimum raise of $2.5 million was initiated to provide ILC with sufficient operating and administration funds to satisfy Exchange requirements for listing (the "Financing"). The Financing consisted of units in ILC offered at a price of $0.25 per unit with each unit consisted of one common share and one ILC Warrant. Each ILC Warrant entitles the holder to purchase one additional common share of ILC at a price of $0.375 for a period of two years from the date of closing ("ILC Units").

Due to the increased level of demand, 12,243,500 Units of ILC were purchased in the Financing for gross proceeds of $3,060,875 representing an over-subscription of 2,243,500 Units or $560,875. At listing, ILC will have 65,901,354 common shares issued and outstanding, of which 27,230,087 common shares will be escrowed.

Notable Share Owners of ILC at listing include:

1. TNR at 29% through property disbursements and a 2,000,000 Unit participation in the Financing;
2. Jiangxi Ganfeng Lithium Co. Ltd. ("Ganfeng Lithium"), a leading China based multi-product lithium manufacturer has committed through a Strategic Relationship Agreement to an initial strategic investment consisting of a 9.99% equity stake in ILC. Ganfeng Lithium brings significant current and future project development assistance capability. For further details regarding Ganfeng Lithium refer to the Company's press release dated April 18, 2011; and
3. Non-Executive Chairman Kirill Klip at 10.5% through his previous equity stake in TNR and a 1,000,000 Unit participation in the Financing.

Certain fees may be payable on a portion of the placement, in compliance with Exchange requirements. The common shares and ILC Warrants comprising the ILC Units sold under the Financing will be restricted from trading for 4 months in accordance with applicable securities laws.

International Lithium Corp. Project Summary

Benefiting from the early acquisition of select high potential lithium brine and hard rock rare metals pegmatite properties through TNR, ILC at its initiation possesses a robust portfolio of projects staged for aggressive exploration.

The Mariana lithium brine project in Argentina, covering an expansive 160 square kilometres, revealed highly compelling geochemistry from a cursory investigation, reporting average grades of 440 mg/l lithium and 12,700 mg/l potassium. The potassium levels were unexpected and represent one of the highest grades comparative to any of the neighbouring salars outside of the world class operation on the Atacama salar. Shortly following listing, preparation is to commence for a phase 1 drill program with the objective to identify and isolate separate brine horizons for a first-time representative characterization of the subsurface brine geochemistry. Subsequent drilling will continue to delineate and add to the confidence level of the geochemistry of the subsurface brine pool with an Inferred Resource estimate targeted for early next year. The Mariana project is expected to experience the most rapid advancement of any of the projects within the current ILC portfolio.

ILC holds three additional lithium brine properties in Nevada (Fish Lake, Runway and Sarcobatus Flats) located in adjacent valleys to the Silver Peak operation in Clayton Valley, the sole lithium brine producer in North America which has been in operation since 1966. This past year, in an integrated regional lithium exploration approach using geochemical and basin modeling utilizing a detailed gravity survey, ILC identified multiple drill targets across all three properties. These targets exhibit analogous geological features which provided both a source and trap for the lithium brines currently extracted at Silver Peak. In 2011, ILC is planning to mobilize a drill to all three properties, target the lithium brine aquifers within the stratigraphy and test their viability.

ILC's property portfolio is well balanced by a number of highly prospective rare metals' hard-rock pegmatite projects that have been selected by ILC's technical experts under stringent guidelines. The key outstanding characteristics shared by all the rare metals' projects are their underexplored nature, excellent accessibility, under-analyzed rare metals' history, initial high confidence level that additional exploration will add project value and ultimately the potential to develop the projects to address the global technological growth in demand for the rare metals' suite of elements.

Highlighting these rare metals' projects is the Moose property located near the shore of Great Slave Lake in the NWT which was a minor lithium and tantalum producer in the 1950's with reported production of 119 tonnes of lithium ore and an estimated 4,409 tonnes of high grade tantalum-niobium ore. The 2010 exploration program was limited as to exposure, however a channel sample returned 1.50 wt% Li2O over 7.5 metres confirming the continuity of high grade lithium across substantial widths within the pegmatite and a muck pile returned 8.44 wt% Li2O indicating that the source pegmatite is highly evolved and underscores the future potential of the property. In support of the untested potential, the historic exploration and mining did not penetrate below the 25 metre mark or extend beyond the local workings.

In addition, surface exploration on the Mavis Lake rare metals' project, located 15 km Northeast of Dryden, Ontario, revealed high-grade well-evolved lithium and tantalum zonation as well as significant levels of cesium and rubidium across multiple pegmatite bodies. Both the Moose and Mavis Lake projects are clearly emerging as premier multi-element rare metals projects and warrant drill programs in 2011 to determine their potential.

Potentially overshadowing the other rare metals projects is the Blackstairs project in Ireland consisting of eight prospecting licenses totaling 292 square kilometres hosting an extensive lithium pegmatite belt extending for more than 50kms. Historical exploration has been highly localized with reported boulder occurrences suggesting potentially large undiscovered pegmatites. The pegmatites that have been observed reveal well developed internal zoning reflecting strong fractionation and multi-rare-metals mineralizing potential.

The merits of ILC's portfolio of lithium and rare metal projects, particularly the Mariana, have garnered significant interest from retailers, institutions and international investors. A dedicated effort has been expended this past year prior to listing in the establishment of a strong network of interested parties. Significant advancement of ILC's projects through 2011 in conjunction with the progression of the lithium and rare metals' sectors will potentially have a marked effect on ILC in the coming period.

ABOUT TNR GOLD CORP. / INTERNATIONAL LITHIUM CORP.

TNR is a diversified international mineral exploration company focusing on the advancement of existing properties and identifying and acquiring new prospective projects. TNR has a portfolio of 18 active projects, of which 9 rare metals projects, including Mariana, will be held or optioned to TNR's wholly owned subsidiary ILC upon completion of the Plan of Arrangement.

The objective of the Plan of Arrangement is to spin-out TNR's rare metals property interests into a separate public company, ILC. The Plan of Arrangement has been approved by TNR's shareholders, the courts of British Columbia and the TSX Venture Exchange. For further details of the spin-out, please visit International Lithium's website and TNR's information circular dated May 10, 2010 which is available on the SEDAR website at www.sedar.com.

The recent acquisition of lithium, other rare metals and rare-earth elements projects in Argentina, Canada, USA and Ireland confirms the TNR and ILC's commitments to generating projects, diversifying its markets, and building shareholder value.

On behalf of the board,

Mike Sieb

President – International Lithium Corp.

COO – TNR Gold Corp.

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.

TNR Gold Corp.

CUSIP: #87260X 109

SEC 12g3-2(b): Exemption #82-4434

International Lithium Corp.

Shares CUSIP: #459820 10 6

Warrant CUSIP: #459820 11 4

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.


Minera Andes Defers Spin-Out of Los Azules Copper Project


TORONTO, ONTARIO--(Marketwire - May 19, 2011) -Minera Andes Inc. (TSX:MAI)(OTCBB:MNEAF) announced today that the proposed spin-out of its copper assets, including the Los Azules project, has been deferred. Weaker financial markets, financing uncertainties, and a delayed legal decision (as described in our May 17, 2011 news release) all contributed to this decision by Minera Andes' board of directors.

About Minera Andes: Minera Andes is an exploration company exploring for gold, silver and copper in Argentina with three significant assets: (i) a 49% interest in Minera Santa Cruz SA, owner of the San Jose Mine in close proximity to Goldcorp's Cerro Negro project; (ii) 100% ownership of the Los Azules copper deposit; and, (iii) 100% ownership of a large portfolio of exploration properties in Santa Cruz province, Argentina, including properties bordering the Cerro Negro project in Santa Cruz Province. The company had $31 million USD in cash as at February 7, 2011 with no bank debt. Rob McEwen, Chairman and CEO, owns 31% of the shares of the company.

This news release has been submitted by Robert R. McEwen, President and CEO of Minera Andes Inc.

Caution Concerning Forward-Looking Statements: This press release contains certain forward-looking statements and information. The forward-looking statements and information express, as at the date of this press release, Minera Andes' plans, estimates, forecasts, projections, expectations or beliefs as to future events and results. Forward-looking statements and information involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements. Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements include, but are not limited to fluctuations in the market price of precious metals, mining industry risks, risks associated with foreign operations, risks related to litigation which if resolved adversely to Minera Andes could materially impact the Minera Andes' value and interest in and ability to develop the Los Azules project, property title, the state of the capital markets, environmental risks and hazards, uncertainty as to calculation of mineral resources and reserves and other risks.

Readers should not place undue reliance on forward-looking statements or information. Minera Andes undertakes 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 Minera Andes' 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.

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


Troy Resources NL: Kamila Southeast Zone Step-Out Drilling Delivers High Grade Intercept


Preliminary Assays From Hole Ca-11-306 Produced a 5.9m Interval Grading 15.80g/t Gold & 2610g/t Silver or 53.09g/t Au_eq From 308.5m Downhole Including a Peak Interval of 1.05m Grading 52.0g/t Gold and 7210g/t Silver or 155.0g/t Au_eq From 308.50m Downhole.

PERTH, WESTERN AUSTRALIA--(Marketwire - May 19, 2011) - Troy Resources NL (TSX:TRY)(ASX:TRY) -

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

Troy Resources NL ("Troy") is pleased to announce preliminary assay results from hole CA-11-306 recently completed as a step-out hole from the high grade CA-11-295 Inca Vein Intercept (14.70m at 26.24 g/t Au_eq from 342.5m) reported in late April 2011.

The new hole intercepted the Inca Vein about 100m southeast of the 295 intercept. CA-11-306 yielded an mineralised intercept of 5.9m interval grading 15.80g/t gold & 2610g/t silver or 53.09g/t Au_eq from 308.5m downhole including a peak interval of 1.05m grading 52.0g/t gold and 7210g/t silver or 155.0g/t Au_eq from 308.50m downhole.

The new intercept has added 100m strike length to the Kamila Southeast Zone and confirmed the high grade gold and silver values associated with the Inca Vein within the zone (see Photo 1, Figure 1, Figure 2 and Table 1). The zone remains open along strike as well as up-dip and downdip.

CA-11-306: Inca Vein Summary:

* 308.50m to 309.55m: brecciate banded quartz vein with fine hair black sulphides - chalcopyrite - pyrite veinlets and clusters.
* 310.75m to 312.70m: Banded and Ginguro textured quartz vein with chalcopyrite - pyrite – black sulphides – sulfosalts and silver clusters.
* 313.30m to 314.40m: Brecciated and banded quartz vein with black sulphides vein.
* 325.30m to 325.90m: Brecciated quartz – calcite vein.

Step-out and infill drilling is continuing with one diamond core drill rig. Up-dip and downdip holes on the CA-11-306 section are planned.

Current plans call for the addition of an additional rig during the next quarter that will focus on infill drilling of the Inca Vein within the Kamila Southeast Target Zone. The existing rig will continue step-outs along strike to test the remainder of the structure to the southeast.

Commenting on the exploration results Troy's CEO Paul Benson said: "This is a very encouraging result as we are seeing high grade in a 100m step out along strike from the high grade CA-11-295 intercept we released in April. This is increasing our confidence that we will ultimately be able to add to our Reserve and Resource inventory. What we have seen so far justifies bringing an additional diamond drill rig to site to focus on infill drilling with the aim of lifting the block to Resource status this year. This will also allow us to use the existing rig to continue to step-out further along strike to test the remainder of the structure to the southeast of the current drilling. The smaller diamond rig on site will continue to focus on drilling Julieta, Castaño Nuevo and the numerous outcropping veins on site."

"Obviously any additions to the Reserve will lead to an extension of the current mine life of 6 years. The Inca Vein within the Kamila Southeast Zone is strategically significant in that any delineated Resources and Reserves would be located close to the existing planned underground development. If a significant mineralised zone is delineated we will determine if rescheduling the underground mine development is justified to access this high grade material earlier in the mine life thus offsetting the drop in mined grades forecast in years 3 and 4 of the current mine plan."

"It is a characteristic of the Kamila ore body that the silver to gold ratio increases with depth. In addition to high gold grades this intercept has bonanza silver grades. Using the parameters assumed in the 2010 NI 43-101 Report that took into account the then assumptions on price and metallurgical recovery this equates to a grade of 54g/t Au_equivalent. This is conservative but allows direct comparison to the existing Reserve and Resource grades. However, using recent prices of US$1500/oz Au and US$35/oz Ag, but keeping the same assumptions for metallurgical recovery, this would translate to a gold equivalent grade of 68g/t."

To view Photo 1 and Figures 1 - 2 please visit the following link: http://media3.marketwire.com/docs/try19_Im.pdf

To view Table 1 please visit the following link: http://media3.marketwire.com/docs/tr19_T01.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 member 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 "qualified person" as defined in "National Instrument 43-101 – Standards of Disclosure for Mineral Projects". Mr Doyle has reviewed and approved the information contained in this report. For further information regarding the Company's projects in Brazil, Australia and Argentina, including a description of Troy's quality assurance program, quality control measures, the geology, samples collection and testing procedures please refer to the technical reports filed which are 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.

ABOUT TROY RESOURCES

Troy Resources (TSX:TRY)(ASX:TRY) is a dividend-paying junior gold producer, with a clear growth strategy. The Company has two producing gold operations; Andorinhas Mine in Para State, Brazil and the Casposo gold and silver mine, in San Juan province, Argentina.

Troy has an experienced Board and management team with a track record of successful, fast-track mine development and low-cost operations.

Troy has an annual exploration budget in excess of $8 million and a proven track record in exploration discoveries and strategic acquisitions.

With the development of Casposo, Troy is entering a renewed growth phase which will again lift the Company's annual gold production above 100,000 ounces of gold per annum.

The Company maintains a robust balance sheet and forecasts continued strong cash flow from its current assets. Troy's gold production is unhedged, allowing its shareholders access to the full benefit of current and future gold price upside.

With the development of the Casposo project in Argentina, Troy is positioned to continue its path of strong growth and profitable operations. The Company is on track to achieve its vision of becoming a highly profitable mid-tier gold producer with a portfolio of quality long-life assets.

Troy is a responsible corporate citizen, committed to the best practice of health and safety, environmental stewardship and social responsibility.

PROJECT LOCATIONS:

To view map please visit the following link: http://media3.marketwire.com/docs/try19_M.pdf

Pan American Silver Generates Record Earnings and Cash Flow During the First Quarter of 2011


VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 18, 2011) -

(All amounts in US dollars unless otherwise stated and all production figures are approximate)

Pan American Silver Corp. (TSX:PAA)(NASDAQ:PAAS) ("Pan American" or the "Company") today reported unaudited financial and operating results for the quarter ended March 31, 2011. The Company also provided an update on its operations and development projects.

Starting January 1, 2011, the Company is required to report its financial results in accordance with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board ("IASB"). Consequently, beginning January 1, 2011 Pan American is reporting under IFRS for interim and annual periods, with comparative information for 2010 restated under IFRS. A detailed description of the changes is included in Note 2 of the condensed consolidated financial statements for the three months ended March 31, 2011, available on SEDAR (www.sedar.com).

This earnings release should be read in conjunction with the Company's MD&A, Financial Statements and Notes to Financial Statements for the corresponding period, which have been posted on SEDAR at www.sedar.com and are also available on the Company's website at www.panamericansilver.com.

First Quarter 2011 Highlights (unaudited)(1)

---------------------------------------------------------------------------
-- Consolidated silver production was 5.3 million ounces
-- Consolidated gold production was 18,640 ounces
-- Consolidated cash costs(2) were $7.83 per ounce of payable silver,
net of by-product credits
-- Record mine operating earnings(3) of $96 million, an increase of 154%.
-- Record net earnings attributable to common shareholders of $92.2 million
or $0.86 per share.
-- Adjusted net earnings attributable to common shareholders(4) of $64.6
million or $0.60 per share.
-- Record operating cash flows, before changes in working capital(5), of
$82.4 million, or $0.77 per share
-- Cash and short-term investments of $397.2 million, an increase of $36.7
million from December 31, 2010.
-- Net working capital increased to a record $492.8 million.
---------------------------------------------------------------------------
(1) Financial information based on IFRS; percentages compare Q1 2011
with Q1 2010.
(2) Cash costs per payable ounce of silver is a non-GAAP measure. The
Company believes that, in addition to cost of sales, cash cost per ounce
is a useful and complementary benchmark that investors use to evaluate
the Company's performance and ability to generate cash flow and is well
understood and widely reported in the silver mining industry. However,
cash costs per ounce does not have a standardized meaning prescribed by
Canadian GAAP as an indicator of performance. A reconciliation is
included in the Company's MD&A on page 12.
(3) Mine operating earnings is a non-GAAP measure used by the company to
assess the performance of its silver mining operations. Mine operating
earnings are equal to sales less cost of sales and depreciation and
amortization and is considered to be substantially the same as gross
margin.
(4) Adjusted earnings attributable to common shareholders are net
earnings attributable to common shareholders less the mark-to-market
impact of the Company's outstanding warrants.
(5) Operating cash flows before changes in working capital is a non-GAAP
measure used by the Company to manage and evaluate operating
performance. The Company considers this measure to better reflect
normalized cash flow generated by operations. Cash flow per share is a
non-GAAP measure used as a measure of return on capital and is
calculated using cash flow from operations, before changes in non-cash
working capital, divided by basic weighted average shares outstanding.
Investors are cautioned that this measure is not defined in current
GAAP and there is no comparable measure defined in GAAP.


Commenting on Pan American's first quarter results, Geoff Burns, President & CEO, said, "Our first quarter financial performance was excellent. Our hard work paid off handsomely and we were able to take advantage of the robust silver prices, to once again generate record net earnings and operating cash flows. Although our operating performance fell slightly below our own expectations at our South American mines, these shortfalls were offset in large part by the superior performance of our Mexican mines. Our consolidated silver production was approximately 4% below our first quarter forecast but we have successfully addressed the production issues that arose during the quarter and we are confident that the production shortfall will be comfortably overcome by year-end."

Financial Results

Revenue during the first quarter of 2011 increased 40% from the first quarter of 2010 to $190.5 million. The increase was directly attributable to significantly higher metal prices, partially offset by the lower quantities of silver, gold, zinc and copper produced and sold. On average, silver and gold prices rose 88% and 25% respectively compared to the first quarter of 2010, while zinc, lead and copper prices increased 5%, 17% and 33% respectively, during the same period. Higher revenues had a positive effect on mine operating earnings, which more than doubled from the comparable period of 2010 to a record $96 million.

During the quarter ended March 31, 2011 Pan American generated record net earnings of $92.7 million or $0.86 per share, which represents an increase of 254% from the first quarter of 2010. After subtracting the $27.5 million mark-to-market, non-cash gain on outstanding warrants, adjusted net earnings attributable to common shareholders for the period were $64.6 million or $0.60 per share.

Operating cash flows before changes in working capital were a record $82.4 million during the first three months of 2011, an increase of 84% compared to the first quarter of 2010. The rise in operating cash flows was mainly due to higher metals prices.

Income taxes for the first three months of 2011 were $25 million or $13.4 million higher than one year ago, on account of higher taxable earnings. The Company's effective tax rate on adjusted earnings attributable to common shareholders during the quarter was 28%, which was lower than management's expectation due to the impact of foreign exchange movements and adjustments to deferred tax assets. The mark-to-market non-cash gain on outstanding warrants is not taxable and therefore has been excluded from the calculation of the effective tax rate.

At March 31, 2011, Pan American had $397.2 million in cash and short-term investments and $492.8 million in working capital, which represents an increase of $36.7 million and $62.9 million respectively during the quarter. Pan American remains debt-free, with the exception of minor capital leases and construction advances, and has a $150 million credit facility, which remains undrawn.

Production and Mining Operations

Pan American produced 5.3 million ounces of silver and 18,640 ounces of gold during the first three months of 2011, which was 3% and 33% less than a year ago, respectively. The Company's Mexican operations performed above forecast, with Alamo Dorado and La Colorada contributing 1.3 million and 1.1 million ounces of silver, respectively. However, production at the Company's Peruvian, Bolivian and Argentinean operations was affected by lower-than-expected grades and throughput.

The Company's consolidated quarterly silver production at its Peruvian operations totaled 1.4 million ounces, or 13% less than in the first quarter of 2010.

At the San Vicente mine in Bolivia, lower throughput as a consequence of several social disruptions combined with lower silver grades resulted in silver production, which was 0.6 million ounces or 24% lower than a year ago. However, the first quarter's shortfall has already been fully recovered during April and San Vicente is now well ahead of its forecasted silver production target.

The ManantialEspejo mine in Argentina produced 0.9 million ounces of silver or 12% less than during the first three months of 2010 due to lower throughput caused by mining equipment and plant availability issues, which were aggravated by sluggish importation logistics for the critical repair parts. Management is implementing an accelerated mining plan and expects that the production shortfall will be recovered by year end 2011.

As expected, Pan American's consolidated gold production declined from the first quarter of 2010 to 18,640 ounces on account of anticipated lower gold grades at the ManantialEspejo mine, partially offset by more gold ounces produced at the Alamo Dorado mine due to higher throughput. Consolidated zinc production fell 19% compared to a year ago to 8,844 tonnes, mainly on less zinc tonnes produced at the Morococha mine due to lower zinc grades and less tonnes milled, which were partially offset by higher zinc production at the La Colorada mine.

Consolidated cash costs during the first quarter of 2011 were $7.83 per ounce of silver, net of by-product credits. Cash costs were negatively affected by the effects of slightly higher than anticipated inflation levels and the production shortfalls at several of our operations as described above. The Company fully expects consolidated cash costs will decline to the forecasted range of between $7.00 and $7.50 per ounce during the remainder of the year.

Project Development

At the Navidad development project, the Company continues to carry out exploration diamond drilling and the technical work necessary to complete a feasibility report during the last quarter of 2011. Resource block modeling, open pit optimization, pit wall slope assessments, mine planning, and basic engineering of the process plant and infrastructure are advancing as planned. As previously announced, management is also evaluating several alternatives to improve the project's economics by optimizing ore processing and recovery methods, among others. Hydrological and environmental studies are also track to complete an Environmental Impact Assessment study in 2011.

Community relations activities initiated last year, including a province-wide project communications program and sponsorship of several local community infrastructure improvement projects, are on-going and the support of the local communities for the development of Navidad is well grounded. We continue to keep both the provincial government of Chubut and the National government of Argentina informed of our progress and our schedule. The Company remains confident that the required amendment to the mining law in Chubut to allow for the responsible and environmentally conscientious development of Navidad will be brought forward during 2011.

During the quarter ended March 31, 2011, Pan American invested $6.3 million at Navidad and capitalized $4.6 million.

At the La Preciosa joint-venture, the Company continues to advance the technical work to complete a preliminary economic assessment ("PEA"), which will incorporate the results of Pan American's 2010 drilling campaign and better reflect the project's economics under the current metal prices environment. During the first quarter of 2011 Pan American invested $0.6 million at La Preciosa and management expects that the PEA will be completed towards the end of the second quarter or early in the 3rd quarter of 2011.

At the Morococha mine, phase I of the relocation project continues as planned with building construction and installation of services on schedule. During the first quarter of 2011, Pan American invested $3.9 million on the relocation project.

Outlook

Initiatives currently underway should improve throughput rates and available ore grades at the Morococha, Huaron, and ManantialEspejo mines. Cash costs and production levels are expected to normalize in the short term and the Company is confirming its annual production forecast of 23 to 24 million ounces of silver at cash costs of $7.00 to $7.50 per ounce of silver, net of by-product credits.

About Pan American

Pan American Silver's mission is to be the world's largest low-cost primary silver mining company by increasing its low-cost silver production and silver reserves. The Company has seven operating mines in Mexico, Peru, Argentina and Bolivia. Pan American also owns the Navidad project in Chubut, Argentina and is the operator of the La Preciosa project in Durango, Mexico.

Technical information contained in this news release has been reviewed by Michael Steinmann, P.Geo., Executive Vice President Geology & Exploration, and Martin Wafforn, P.Eng., Vice President Technical Services, who are the Company's Qualified Persons for the purposes of NI 43-101.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

CERTAIN OF THE STATEMENTS AND INFORMATION IN THIS NEWS RELEASE CONSTITUTE "FORWARD-LOOKING STATEMENTS" WITHIN THE MEANING OF THE UNITED STATES PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND "FORWARD-LOOKING INFORMATION" WITHIN THE MEANING OF APPLICABLE CANADIAN PROVINCIAL SECURITIES LAWS RELATING TO THE COMPANY AND ITS OPERATIONS. ALL STATEMENTS, OTHER THAN STATEMENTS OF HISTORICAL FACT, ARE FORWARD-LOOKING STATEMENTS. WHEN USED IN THIS NEWS RELEASE THE WORDS, "BELIEVES", "EXPECTS", "INTENDS", "PLANS", "FORECAST", "OBJECTIVE", "OUTLOOK", "POSITIONING", "POTENTIAL", "ANTICIPATED", "BUDGET", AND OTHER SIMILAR WORDS AND EXPRESSIONS, IDENTIFY FORWARD-LOOKING STATEMENTS OR INFORMATION. THESE FORWARD-LOOKING STATEMENTS OR INFORMATION RELATE TO, AMONG OTHER THINGS: FUTURE PRODUCTION OF SILVER, GOLD AND OTHER METALS AND THE TIMING OF SUCH PRODUCTION; FUTURE CASH COSTS PER OUNCE OF SILVER; THE PRICE OF SILVER AND OTHER METALS; THE EFFECTS OF LAWS, REGULATIONS AND GOVERNMENT POLICIES AFFECTING PAN AMERICAN'S OPERATIONS OR POTENTIAL FUTURE OPERATIONS, INLCUDING BY NOT LIMITED TO, LAWS IN THE PROVINCE OF CHUBUT, ARGENTINA, WHICH CURRENTLY HAVE SIGNIFICANT RESTRICTIONS ON MINING AND THE LAWS OF BOLIVIA, WHICH MAY BE AMENDED AND THUS COULD HAVE NEGATIVE CONSEQUENCES WITH RESPECT TO THE COMPANY'S SAN VICENTE MINE; THE LIKELIHOOD AND TIMINIG OF ANY POTENTIAL AMENDMENT OF THE LAWS IN CHUBUT, ARGENTINA AFECTING MINING; FUTURE SUCCESSFUL DEVELOPMENT OF THE NAVIDAD PROJECT, THE LA PRECIOSA PROJECT, AND OTHER DEVELOPMENT PROJECTS OF THE COMPANY; THE SUFFICIENCY OF THE COMPANY'S CURRENT WORKING CAPITAL, ANTICIPATED OPERATING CASH FLOW OR ITS ABILITY TO RAISE NECESSARY FUNDS; TIMING OFRELEASE OF TECHNICAL OR OTHER REPORTS; THE ESTIMATES OF EXPECTED OR ANTICIPATED ECONOMIC RETURNS FROM THE COMPANY'S MINING PROJECTS; ESTIMATED EXPLORATION EXPENDITURES TO BE INCURRED ON THE COMPANY'S VARIOUS PROPERTIES; FORECAST CAPITAL AND NON-OPERATING SPENDING; FUTURE SALES OF THE METALS, CONCENTRATES OR OTHER PRODUCTS PRODUCED BY THE COMPANY; AND THE COMPANY'S PLANS AND EXPECTATIONS FOR ITS PROPERTIES AND OPERATIONS.

THESE STATEMENTS REFLECT THE COMPANY'S CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND ARE NECESSARILY BASED UPON A NUMBER OF ASSUMPTIONS AND ESTIMATES THAT, WHILE CONSIDERED REASONABLE BY THE COMPANY, ARE INHERENTLY SUBJECT TO SIGNIFICANT BUSINESS, ECONOMIC, COMPETITIVE, POLITICAL AND SOCIAL UNCERTAINTIES AND CONTINGENCIES. MANY FACTORS, BOTH KNOWN AND UNKNOWN, COULD CAUSE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS TO BE MATERIALLY DIFFERENT FROM THE RESULTS, PERFORMANCE OR ACHIEVEMENTS THAT ARE OR MAY BE EXPRESSED OR IMPLIED BY SUCH FORWARD-LOOKING STATEMENTS CONTAINED IN THIS NEWS RELEASE AND THE COMPANY HAS MADE ASSUMPTIONS AND ESTIMATES BASED ON OR RELATED TO MANY OF THESE FACTORS. SUCH FACTORS INCLUDE, WITHOUT LIMITATION: FLUCTUATIONS IN SPOT AND FORWARD MARKETS FOR SILVER, GOLD, BASE METALS AND CERTAIN OTHER COMMODITIES (SUCH AS NATURAL GAS, FUEL OIL AND ELECTRICITY); FLUCTUATIONS IN CURRENCY MARKETS (SUCH AS THE CANADIAN DOLLAR, PERUVIAN SOL, MEXICAN PESO, ARGENTINE PESO AND BOLIVIAN BOLIVIANO VERSUS THE U.S. DOLLAR); RISKS RELATED TO THE TECHNOLOGICAL AND OPERATIONAL NATURE OF THE COMPANY'S BUSINESS; CHANGES IN NATIONAL AND LOCAL GOVERNMENT, LEGISLATION, TAXATION, CONTROLS OR REGULATIONS AND POLITICAL OR ECONOMIC DEVELOPMENTS IN CANADA, THE UNITED STATES, MEXICO, PERU, ARGENTINA, BOLIVIA OR OTHER COUNTRIES WHERE THE COMPANY MAY CARRY ON BUSINESS IN THE FUTURE; RISKS AND HAZARDS ASSOCIATED WITH THE BUSINESS OF MINERAL EXPLORATION, DEVELOPMENT AND MINING (INCLUDING ENVIRONMENTAL HAZARDS, INDUSTRIAL ACCIDENTS, UNUSUAL OR UNEXPECTED GEOLOGICAL OR STRUCTURAL FORMATIONS, PRESSURES, CAVE-INS AND FLOODING);

RISKS RELATING TO THE CREDIT WORTHINESS OR FINANCIAL CONDITION OF SUPPLIERS, REFINERS AND OTHER PARTIES WITH WHOM THE COMPANY DOES BUSINESS; INADEQUATE INSURANCE, OR INABILITY TO OBTAIN INSURANCE, TO COVER THESE RISKS AND HAZARDS; EMPLOYEE RELATIONS; RELATIONSHIPS WITH AND CLAIMS BY LOCAL COMMUNITIES AND INDIGENOUS POPULATIONS; AVAILABILITY AND INCREASING COSTS ASSOCIATED WITH MINING INPUTS AND LABOUR; THE SPECULATIVE NATURE OF MINERAL EXPLORATION AND DEVELOPMENT, INCLUDING THE RISKS OF OBTAINING NECESSARY LICENSES AND PERMITS AND THE PRESENCE OF LAWS AND REGULATIONS THAT MAY IMPOSE RESTRICTIONS ON MINING, INCLUDING THOSE CURRENTLY IN THE PROVINCE OF CHUBUT, ARGENTINA; DIMINISHING QUANTITIES OR GRADES OF MINERAL RESERVES AS PROPERTIES ARE MINED; GLOBAL FINANCIAL CONDITIONS; THE COMPANY'S ABILITY TO COMPLETE AND SUCCESSFULLY INTEGRATE ACQUISITIONS AND TO MITIGATE OTHER BUSINESS COMBINATION RISKS; CHALLENGES TO, OR DIFFICULTY IN MAINTAINING, THE COMPANY'S TITLE TO PROPERTIES AND CONTINUED OWNERSHIP THEREOF; THE ACTUAL RESULTS OF CURRENT EXPLORATION ACTIVITIES, CONCLUSIONS OF ECONOMIC EVALUATIONS, AND CHANGES IN PROJECT PARAMETERS TO DEAL WITH UNANTICIPATED ECONOMIC OR OTHER FACTORS; INCREASED COMPETITION IN THE MINING INDUSTRY FOR PROPERTIES, EQUIPMENT, QUALIFIED PERSONNEL, AND THEIR COSTS; AND THOSE FACTORS IDENTIFIED UNDER THE CAPTION "RISKS RELATED TO PAN AMERICAN'S BUSINESS" IN THE COMPANY'S MOST RECENT FORM 40-F AND ANNUAL INFORMATION FORM FILED WITH THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION AND CANADIAN PROVINCIAL SECURITIES REGULATORY AUTHORITIES. INVESTORS ARE CAUTIONED AGAINST ATTRIBUTING UNDUE CERTAINTY OR RELIANCE ON FORWARD-LOOKING STATEMENTS. ALTHOUGH THE COMPANY HAS ATTEMPTED TO IDENTIFY IMPORTANT FACTORS THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY, THERE MAY BE OTHER FACTORS THAT CAUSE RESULTS NOT TO BE AS ANTICIPATED, ESTIMATED, DESCRIBED OR INTENDED. THE COMPANY DOES NOT INTEND, AND DOES NOT ASSUME ANY OBLIGATION, TO UPDATE THESE FORWARD-LOOKING STATEMENTS OR INFORMATION TO REFLECT CHANGES IN ASSUMPTIONS OR CHANGES IN CIRCUMSTANCES OR ANY OTHER EVENTS AFFECTING SUCH STATEMENTS OR INFORMATION, OTHER THAN AS REQUIRED BY APPLICABLE LAW.



17 may 2011

Update on Litigation With TNR Gold Corp.


TORONTO, ONTARIO--(Marketwire - May 17, 2011) -Minera Andes Inc. (the "Company" or "Minera Andes") (TSX:MAI)(OTCBB:MNEAF) advises that TNR Gold Corp. and its subsidiary, Solitario Argentina, S.A. (together, "TNR") have amended their pleadings to add a new claim in the ongoing litigation regarding a portion of Minera Andes' Los Azules copper project in Argentina (the "Project"). See "New Claim by TNR" below.

Minera Andes rejects all of TNR's claims and will vigorously defend its position in court. Unfortunately, TNR's amended claim has caused the trial, which was scheduled for June 2011, to be delayed.

Background to the TNR Dispute

*The Project was, until the fall of 2009, subject to an option agreement between Xstrata Copper (and certain affiliates, "Xstrata") and Minera Andes.

*In the fall of 2009, Xstrata elected not to exercise its option to back-in to the Project and subsequently transferred all properties then held by Xstrata (and forming part of the Project) to Minera Andes. Minera Andes now owns 100% of the Project.

*Certain portions of the northern part of the Project (the "Subject Properties") that were formerly held by Xstrata and transferred to Minera Andes following the termination of the option agreement remain subject to an underlying option agreement between Xstrata and TNR (the "TNR Agreement").

*The TNR Agreement provided that TNR had the right to back-in to up to 25% of the Subject Properties, exercisable by TNR upon the satisfaction of certain conditions within 36 months of Xstrata exercising its option, including the completion of a feasibility study.

*The 36-month period following the exercise of the option expired on April 23, 2010 and no feasibility study has been completed on the Project.

*1stClaim - October 2008: In addition to an existing unresolved claim against Xstrata regarding a mineral tenure known as Escorpio IV (located to the west of and not forming any port of the Los Azules deposit), TNR claimed in 2008 that the above back-in right is not subject to the 36-month timeline that appears in the executed agreement. In fact, TNR claims the 36-month limit was never the commercial intention of the parties. In particular, TNR claims the 36-month requirement was added by Xstrata, overlooked by TNR (and their lawyers) and not discovered for a number of years all the while Xstrata made payments on their option.

*2ndClaim - April 2010: In April 2010, TNR claimed they had the right to back-in to the Subject Properties prior to the expiry of the option period on account that they could waive the requirement that a feasibility study be completed. Minera Andes rejected and continues to reject TNR's ability to back-in to the Project (see Minera Andes' news releases dated April 1, 2010, and April 26, 2010).

*The foregoing claims were consolidated into a single action in the fall of 2010 and were scheduled to go to trial in June 2011. This has been delayed on account of TNR amending their claim (see below).

New Claim by TNR

*3rdClaim - April 2011: In April 2011, TNR proposed, and were subsequently allowed, to amend their claim to claim that Xstrata and Minera Andes did not complete the required exploration expenditures of $1,000,000 required under the TNR Agreement for Xstrata's exercise of its option on April 23, 2007 to acquire the Subject Properties.

*On that basis, TNR and Solitario are advancing a claim to seek the return of the Subject Properties, or alternatively, damages against Xstrata or Minera Andes.

*Minera Andes rejects TNR's claim that insufficient expenditures were made.

About Minera Andes: Minera Andes is an exploration company exploring for gold, silver and copper in Argentina with three significant assets: (i) a 49% interest in Minera Santa Cruz SA, owner of the San Jose Mine in close proximity to Goldcorp's Cerro Negro project; (ii) 100% ownership of the Los Azules copper deposit with an inferred mineral resource of 10.3 billion pounds of 0.73% Cu and an indicated resource of 2.2 billion pounds of 0.52% Cu; and, (iii) 100% ownership of a large portfolio of exploration properties in Santa Cruz province, Argentina, including properties bordering the Cerro Negro project in Santa Cruz Province. The Company had $31 million USD in cash as at February 7, 2011 with no bank debt. Rob McEwen, Chairman and CEO, owns 31% of the shares of the Company. The Company announced on March 17, 2011, its intention to spin-out the Los Azules Copper Project into a new publicly traded company, subject to a number of approvals.

This news release has been submitted by Nils Engelstad, VP Corporate Affairs of Minera Andes Inc.

Technical Information

Technical information about the Los Azules Project in this news release was derived from the report entitled "Canadian National Instrument 43-101 Technical Report Updated Preliminary Assessment, Los Azules Project, San Juan Province, Argentina" with an effective date of December 1, 2010 (released December 16, 2010) prepared by Kathleen Altman, Ph.D., PE,, Robert Sim, P.Geo,. Bruce Davis, PhD, FAusIMM, Richard Jemielita, Ph.D., MIMMM, William Rose, PE, and Scott Elfen, PE (the "Los Azules Report"). Each of the Los Azules Report authors are independent of Minera Andes Inc. and Qualified Persons, each as defined by National Instrument 43-101 "Standards of Disclosure for Mineral Projects" ("NI 43-101"). The Los Azules Report is available under the Corporation's profile on SEDAR (www.sedar.com).



Caution Concerning Forward-Looking Statements: This press release contains certain forward-looking statements and information. The forward-looking statements and information express, as at the date of this press release, the Company's plans, estimates, forecasts, projections, expectations or beliefs as to future events and results. Forward-looking statements and information involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements. Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements include, but are not limited to, factors associated with completion of the Arrangement (including the expected benefits thereof), fluctuations in the market price of precious metals, mining industry risks, risks associated with foreign operations, risks related to litigation which if resolved adversely to Minera Andes could materially impact the Corporation's value and interest in and ability to develop the Los Azules project, property title, the state of the capital markets, environmental risks and hazards, uncertainty as to calculation of mineral resources and reserves and other risks.

Readers should not place undue reliance on forward-looking statements or information. The Company undertakes 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 the Company's 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.

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



Hunt Mining Corp. Announces New Development Schedule for the La Josefina Project in Santa Cruz, Argentina


LIBERTY LAKE, WASHINGTON--(Marketwire - May 17, 2011) - Hunt Mining Corp. (the "Corporation") (TSX VENTURE:HMX) is pleased to announce an updated development schedule for the La Josefina Project in Santa Cruz province, Argentina.

An updated project development schedule was delivered to and receipted by Fomicruz, the provincial mining authority in Santa Cruz, on March 3rd, 2011. The new schedule was accepted and signed by Fomicruz President, Mr. Miguel Angel Ferro effective May 12th, 2011 in accordance with the original agreement relating to the La Josefina Project (the "Project Agreement"). The Project Agreement recognizes that mineral exploration is an activity that demands flexibility and adaptability to unique circumstances, and provides that the development schedule for the project may be modified from time-to-time by mutual consent of Fomicruz and Cerro Cazador S.A., the Corporation's wholly-owned Argentine subsidiary ("CSSA"). Please see the summary of the updated development schedule below:

Amended Development Schedule Summary for the La Josefina Project

* 2007-2008; Exploration Phase I; Investment USD$6,000,000 (completed)
* 2009-2010; Exploration Phase II; Investment USD$2,000,000 (completed)
* 2010-2011; Exploration and Development Phase; including initiation of preliminary economic assessment and scoping level studies;
* 2012-2013; Development; including completion of economic feasibility, production decision and formation of CCSA-Fomicruz Joint Venture Company;
* 2014; Mine Construction Phase
* 2015; Projected Production

"This is an extremely important development for the Corporation" stated President and CEO Matthew Hughes. "This amendment to the schedule for development of the La Josefina Project removes the risks associated with the original timetable and allows for additional exploration, resource expansion, as well as, providing a much more logical timeline for exploitation. The Corporation has always shared a close and cooperative relationship with Fomicruz and looks forward to a long and rewarding alliance as we move the La Josefina Project towards production"

About Hunt Mining

Hunt Mining Corp. has been an active and aggressive explorer in Santa Cruz since 2006. Since that time, the Corporation's wholly owned subsidiary, CSSA, has completed a large amount of exploration activity including more than 43,000 meters of HQ core drilling, 416 line kilometers of Induced Polarization geophysical surveys and more than 15,000 surface channel, chip, and trench samples. The Corporation is currently engaged in a resource expansion drilling campaign at the flag-ship La Josefina Project. Historical results and additional information can be viewed at www.huntmining.com.

FORWARD-LOOKING INFORMATION

This announcement contains forward-looking information and forward-looking statements (collectively, "forward-looking information") within the meaning of applicable securities laws, relating, but not limited to the Corporation's expectations, intentions, plans and beliefs. Forward-looking information can often be identified by the use of words such as 'anticipate', 'believe', 'expect', 'goal', 'plan', 'intend', 'estimate', 'may' and 'will' or similar words suggesting future outcomes or other expectations including with respect to the expected development of the Corporation's La Josefina Project and the anticipated schedule for such development. Such forward looking-information is based on assumptions and current expectations that involve a number of known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed or implied by the forward-looking information. Factors that could cause actual results to differ materially from any forward-looking information include, but are not limited to, failure to establish estimated resources, the grade and recovery of ore which is mined varying from estimates, capital and operating costs varying significantly from estimates, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, uncertainties relating to the interpretation of the geology, continuity, grade and size estimates of mineral resources and unanticipated operational or technical difficulties and other factors. Such forward-looking information is based on a number of assumptions, including but not limited to, the availability of financing, no significant decline in existing general business and economic conditions, the level and volatility of the price of gold, the accuracy of the Corporation's resource estimates and of the geological, metallurgical, price and other assumptions on which the estimates are based. Should one or more risks and uncertainties materialize or should any assumptions prove incorrect, then actual results could vary materially from those expressed or implied in the forward-looking information and accordingly, readers are cautioned not to place undue reliance on this forward-looking information. Readers are further cautioned that the forgoing lists of risks, uncertainties, assumptions and other factors are not exhaustive. The Corporation does not assume the obligation to revise or update this forward-looking information after the date of this announcement or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.

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


Lumina Intersects 310 Meters Grading 1.06% Copper Equivalent in Twin Hole at Taca Taca Copper-Gold-Molybdenum Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 17, 2011) - Lumina Copper Corp. (TSX VENTURE:LCC) (the "Company") is pleased to announce the results of five new holes drilled as part of the ongoing program at its 100% owned Taca Taca copper/gold/molybdenum deposit located in Salta province, Argentina. The results are highlighted by hole TTBJ11-13 that intersected 310 meters grading 0.83% copper, 0.21g/t gold and 0.02% molybdenum (1.06% copper equivalent(1)) including 60 meters grading 1.30% copper, 0.39g/t gold and 0.02% molybdenum (1.65% copper equivalent).

Four of the five holes (TTBJ11-09, 10, 11, 13) are twin holes, drilled as part of the process to verify and confirm the drilling completed by previous operators on the project. The results from the twin holes correlate well with the previous results with two holes showing overall higher grades (TTBJ11-10, 13), one hole matching the historical grades (TTBJ11-11) and one hole containing lower grade and mineralized interval (TTBJ11-09). TTBJ11-08 and its offset TTBJ11-12 were drilled to the east and south of the known resource. Hole TTBJ11-08 was abandoned due to poor ground conditions while TTBJ11-12 did not encounter any significant mineralization.

The results from holes TTBJ11-13 and TTBJ11-10 are particularly significant. Hole TTBJ11-13 continued in mineralization an additional 114 meters below the depth of the twinned hole. It also revealed higher average copper grades (0.83% Cu vs. 0.77% Cu) largely due to exceptional grades intersected below the depth of the previous hole. Similarly, TTBJ11-10 showed a higher overall copper grade (0.45% Cu vs. 0.40% Cu) versus its twin while marginally increasing the length of the mineralized interval by 6 meters.

Details of the relevant intercepts from the latest five holes are shown in the table below. A map showing the location of the new results in relation to historical drilling is attached to this news release:



The drill program is focused on defining a higher grade zone within the known NI 43-101 compliant mineral resource estimate as well as expanding known mineralization to the north. To date 16 holes totalling 8,529 meters have been completed and three drill rigs are operating on the project (two focused on resource drilling and one focused on geotechnical drilling). A fourth rig is expected to arrive on site within the next month.

The Taca Taca copper/gold/molybdenum project, comprising approximately 2,500 hectares, is located in the Puna region of north western Argentina in Salta Province, approximately 230 kilometres west of the provincial capital of Salta and 90 kilometres east of the world's largest copper mine, Escondida.

On October 9, 2008, the Company announced it had received an independent National Instrument 43-101 ("NI 43-101") compliant mineral resource estimate for the project that at a 0.4% copper equivalent cutoff contained inferred mineral resources of 841 million tonnes grading 0.64% copper equivalent, containing 8.71 billion pounds of copper, 2.97 million ounces of gold and 333.70 million pounds of molybdenum(3). This mineral resource estimate does not incorporate or reflect the drilling results described above.

Additional information on Taca Taca, including the NI 43-101 technical report "Amended Taca Taca Technical Report" dated January 22, 2010 by Robert Sim, P.Geo., can be found on the Company's website (www.luminacopper.com) and on SEDAR (www.sedar.com).

Andrew Carstensen, CPG, Vice President, Exploration and the Qualified Person as defined by NI 43-101 for the Taca Taca project has reviewed and approved the content of this press release.

(3) The copper equivalent cut off grade used in the calculation of the mineral resource estimate was determined using US$1.50 / lb copper, US$600 / oz gold and US$6.00 / lb molybdenum and was not adjusted for metallurgical recoveries as these remain uncertain. The formula used in the calculation was as follows: CuEQ = Cu% + (Au g/t x 0.583) + (Mo% x 6).

LUMINA COPPER CORP.

David Strang, President & CEO

CAUTION REGARDING FORWARD LOOKING STATEMENTS: This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the future price of gold, copper and molybdenum, the timing of exploration activities, the estimation of mineral reserves and mineral resources, the results of drilling, estimated future capital and operating costs, future stripping ratios, projected mineral recovery rates and Lumina Copper's commitment to, and plans for developing any of its projects. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "can", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Lumina Copper to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the exploration and potential development of the Company's projects, risks related to international operations, the actual results of current exploration activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future prices of gold, copper and molybdenum, as well as those factors discussed in the sections relating to risk factors of our business filed in Lumina Copper's required securities filings on SEDAR. Although Lumina Copper has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended.

There can be no assurance that any 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. Lumina Copper does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.

To view the Map, please visit the following link: http://media3.marketwire.com/docs/LCC_Map.pdf


Extorre Receives Approval for Cerro Moro Mine Development


VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 17, 2011) -Extorre Gold Mines Limited (TSX:XG)(NYSE Amex:XG)(FRANKFURT:E1R) ("Extorre" or the "Company") is pleased to announce the formal approval of the Cerro Moro Environmental Impact Assessment ("EIA") by the Santa Cruz provincial government. The EIA was submitted to authorities in September 2010. This approval together with the receipt of the Project Pre-Feasibility Study expected in June 2011 will enable Extorre to proceed with advanced engineering and mine development.

Eric Roth, Extorre's President and CEO stated: "The successful permitting of the Cerro Moro gold-silver mine represents an important milestone for Extorre, and is the first step in what we expect will be a straight-forward mine development. Cerro Moro's ideal geographic location and very high grade gold-silver veins should allow Extorre to obtain near term, low cash cost gold-silver production from a relatively modest capital investment.

"We would like to acknowledge the support we have received from the Santa Cruz government and local communities for the development of Cerro Moro.

"With our ongoing exploration success, including the recently announced high grade gold-silver discovery at Zoe, the Company will now have an opportunity to evaluate the potential for expanding the scope and the life of the proposed mine."

Separately, Extorre is pleased to announce completion of the purchase of the 14,000 hectare Estancia (ranch) that covers the principal vein zones at the Cerro Moro Project. The purchase of the property provides Extorre with full ownership of the surface rights that cover the Escondida, Zoe, Loma Escondida, Esperanza, and Gabriela vein zones. It also covers those areas selected for the construction of the mineral processing facilities and general mine infrastructure.

About Extorre

Extorre is a Canadian public company listed on the Toronto Stock and NYSE Amex Exchanges (symbol XG). Extorre's assets comprise approximately $28 million in cash, the Cerro Morro and Don Sixto projects, and other mineral exploration properties in Argentina.

On April 19, 2010, Extorre announced a National Instrument ("NI") 43-101 compliant mineral resource estimate for Cerro Moro:

Indicated Category: 357,000 oz. gold + 15.3 million oz. silver (612,000 oz. gold equivalent*), plus Inferred Category: 190,000 oz. gold + 12.0 million oz. silver (390,000 oz. gold equivalent*)

The 612,000 ounce gold equivalent* indicated resource, has an average grade of 32.3 g/t gold equivalent*, a grade considered exceptional by industry standards. The silver contribution is high, accounting for over 40% of the metal value. Additional inferred resources of 390,000 ounces gold equivalent* are also reported from Cerro Moro. An updated mineral resource statement for the Cerro Moro project is expected to be completed during Q3, 2011.

Extorre released the results of a preliminary economic assessment ("PEA") of the Cerro Moro Project on October 19, 2010. The PEA highlighted the robust economics of a future mine expected to produce an average of 133,500 gold equivalent* ounces annually during the first 5 years of operations. The cash cost per ounce (gold equivalent*) is estimated to be US$ 201 per ounce. Project CAPEX has been estimated at US$ 131 million (of which 21% is a VAT that is refundable after production commences). The project economics were calculated using gold and silver prices of US$ 950/ounce and US$ 16/ounce, respectively.

Four drill rigs are currently dedicated to expanding the known gold-silver mineral resources at Cerro Moro. In addition, two drill rigs are currently operating at Extorre's 100% owned Cerro Puntudo project located 200 km (124 miles) west of Cerro Moro. Cerro Puntudo is immediately south of the Joaquin Silver Discovery owned by Coeur d'Alene Mines and Mirasol Resources.

* Gold equivalent grade is calculated by dividing the silver assay result by 60, adding it to the gold value and assuming 100% metallurgical recovery.

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

You are invited to visit the Extorre web site at www.extorre.com.
EXTORRE GOLD MINES LIMITED
Eric Roth, President and CEO
extorre@extorre.com Suite 1660, 999 West Hastings St.
Vancouver, BC Canada V6C 2W2

Safe Harbour Statement – This news release contains "forward-looking information" and "forward-looking statements" (together, the "forward-looking statements") within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995, including our belief as to the extent and timing of its drilling programs, various studies including the PFS, and the Environmental Impact Assessment, and exploration results, the potential tonnage, grades and content of deposits, timing, establishment and extent of resources estimates, potential production from and viability of its properties, production costs and permitting submission and timing. These forward-looking statements are made as of the date of this news release. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the future circumstances, outcomes or results anticipated in or implied by such forward-looking statements will occur or that plans, intentions or expectations upon which the forward-looking statements are based will occur. While we have based these forward-looking statements on our expectations about future events as at the date that such statements were prepared, the statements are not a guarantee that such future events will occur and are subject to risks, uncertainties, assumptions and other factors which could cause events or outcomes to differ materially from those expressed or implied by such forward-looking statements. Such factors and assumptions include, among others, the effects of general economic conditions, the price of gold and silver, changing foreign exchange rates and actions by government authorities, uncertainties associated with legal proceedings and negotiations and misjudgments in the course of preparing forward-looking information. In addition, there are known and unknown risk factors which could cause our actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements.

Known risk factors include risks associated with project development; the need for additional financing; operational risks associated with mining and mineral processing; fluctuations in metal prices; title matters; uncertainties and risks related to carrying on business in foreign countries; environmental liability claims and insurance; reliance on key personnel; the potential for conflicts of interest among certain of our officers, directors or promoters of with certain other projects; the absence of dividends; currency fluctuations; competition; dilution; the volatility of the our common share price and volume; tax consequences to U.S. investors; and other risks and uncertainties, including those relating to the Cerro Moro project and general risks associated with the mineral exploration and development industry described in our financial statements and MD&A for the fiscal period ended December 31, 2010 filed with the Canadian Securities Administrators and available at www.sedar.com. Although we have 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. We are under no obligation to update or alter any forward-looking statements except as required under applicable securities laws.

Cautionary Note to United States Investors - The information contained herein and incorporated by reference herein has been prepared in accordance with the requirements of Canadian securities laws, which differ from the requirements of United States securities laws. In particular, the term "resource" does not equate to the term "reserve". The Securities Exchange Commission's (the "SEC") disclosure standards normally do not permit the inclusion of information concerning "measured mineral resources", "indicated mineral resources" or "inferred mineral resources" or other descriptions of the amount of mineralization in mineral deposits that do not constitute "reserves" by SEC standards, unless such information is required to be disclosed by the law of the Company's jurisdiction of incorporation or of a jurisdiction in which its securities are traded. U.S. investors should also understand that "inferred mineral resources" have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. Disclosure of "contained ounces" is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute "reserves" by SEC standards as in place tonnage and grade without reference to unit measures.

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


TNR Gold Granted Leave to Add New Claim Over Los Azules Project


VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 16, 2011) - TNR Gold Corp. (TSX VENTURE:TNR) ("TNR" or the "Company) advises that following a two-day hearing before the British Columbia Supreme Court, TNR and its subsidiary, Solitario Argentina S.A., have been granted leave to amend their pleadings to add a new claim to the litigation (the "New Claim") over the Los Azules project in Argentina. The litigation involves TNR, Minera Andes Inc., MIM Argentina Exploraciones S.A. ("Xstrata") and related entities. The Los Azules project is an advanced exploration project currently reporting a National Instrument 43- 101 compliant Inferred Resource.

In the original Notice of Claim, among other claims, TNR and Solitario seek rectification of a 2004 Exploration and Option Agreement with Xstrata (later assigned to Minera Andes) to restore a right on the part of Solitario to back-in to up to 25% of certain properties constituting the northern half of the Los Azules project (the "Properties") any time within 120 days of the production of a feasibility study. Minera Andes and Xstrata oppose rectification and the other relief sought by TNR and Solitario.

The New Claim alleges that Xstrata and Minera Andes did not complete the required exploration expenditures required for Xstrata's exercise of its option on April 23, 2007 to acquire the Properties. On that basis, TNR and Solitario advance a claim of breach of contract and intentional interference with economic relations, and seek the return of the Properties, or alternatively, damages as against the defendants or any of them.

As a result of the New Claim being added to the litigation, the trial scheduled to commence on June 20, 2011 in Vancouver, BC has been adjourned so that documents relating to the New Claim can be produced. A new date for the trial will be set in due course.

ABOUT TNR GOLD CORP.

The Company is a diversified international metals exploration company focusing on the continued advancement of existing properties and identifying and acquiring new prospective projects. TNR has a portfolio of 18 active projects, of which 9 rare metals projects, including the Mariana Lithium Brine project, will be held or optioned to TNR's wholly owned subsidiary International Lithium Corp. ("ILC") upon completion of a Plan of Arrangement.

The objective of the Plan of Arrangement is to spin-out TNR's rare metals property interests into a separate public company, ILC. The Plan of Arrangement has been approved by TNR's shareholders, the courts of British Columbia and the TSX Venture Exchange with the Record Date / Effective Date set for May 19, 2011. For further details of the spin-out, please visit International Lithium's website, TNR's information circular dated May 10, 2010 which is available on the SEDAR website at www.sedar.com and the Company's press release dated May 12, 2011.

The recent acquisition of lithium, other rare metals and rare-earth elements projects in Argentina, Canada, USA and Ireland confirms TNR's commitment to generating projects, diversifying its markets, and building shareholder value.

On behalf of the board,

Gary Schellenberg, President

Cautionary Language and Forward-Looking Statements

This press release includes certain statements that may be deemed "forward-looking statements". All statements in this discussion, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that TNR expects, including the outcome of pending and current litigation, are forward looking statements. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward- looking statements include metal prices, exploration successes, continued availability of capital and financing, and general economic, market or business conditions. In particular, there are no assurances that TNR will be successful in the current litigation with respect to the Los Azules Project, including the New Claim. Accordingly, readers should not place undue reliance on forward-looking statements. This press release and the information contained herein does not constitute an offer of securities for sale in the United States and securities may not be offered or sold in the United States absent registration or exemption from registration.

CUSIP: #87260X 109

SEC 12g3-2(b): Exemption #82-4434

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.