Investorideas.com newswire, commentary for mining sector

Thursday, May 31, 2012

Coal Stock News Alert: VSUS Technologies Inc., (OTCQB:VSUT) Shareholder Update

BOGOTA, Colombia - May 31, 2012 (Investorideas.com Newswire) VSUS Technologies Inc. (OTCQB:VSUT) President, John Campo, commented, "As a relatively unknown company, we understand the need to keep shareholders updated. Due to the large interest from international investors in the Colombian coal sector, we wanted to provide an overview of our company for both retail and institutional investors taking a closer look at VSUS Technologies Inc."

VSUS Technologies Inc. is focused on the acquisition and development of high-quality metallurgical coal properties in the Republic of Colombia . We own 100% of La Tabaquera mine in Colombia with an estimated 17 MM tonnes of reserves, 70% metallurgical and 30% thermal coal. These reserves were appraised by a licensed mining engineer in Colombia for an estimated gross value of US$ 70 MM "in situ" in the ground.
The Company has signed an LOI to purchase the neighboring property with expected reserves of over 100 MM tonnes. We anticipate closing this acquisition in the very near future.
There has been significant interest in the Colombian coal sector by international mining companies and investment bankers. South Africa 's Continental Coal acquired a 50% joint venture interest in a metallurgical coal mine. According to their press release, "Sales of hard coking coal are made at the mine's gate with current margins of about 75%."
Brazilian miner Vale said on Monday it agreed to sell its thermal coal assets in Colombia for $ 407 MM to a unit of Colombian Natural Resources, a mining company controlled by U.S. investment bank Goldman Sachs. Goldman Sachs already owns a stake in a railway and mines in the same area. Goldman Sachs has been quietly accumulating coal properties in Colombia for the past few years. It is important to note that Vale, the largest iron ore producer in the world, is selling the mines because thermal coal, used to generate electricity, is not part of the company's core business. They are keeping their more valuable metallurgical coal assets.
Due to the high quality of our metallurgical coal reserves, the Company has received an informal offer, through one of its shareholders, from a subsidiary of a major international energy conglomerate for the purchase of La Tabaquera; the Company will weigh all options including being acquired.
We are in talks with a company that owns producing oil wells in Wyoming that would like to be acquired by VSUS Technologies at a valuation far greater that our current market price. The oil company believes mutually we can raise funds to increase their production from 40-50 barrels of oil per day to 400 barrels. This cash flow, along with our assets, will make us more attractive to institutional investors and will allow us to acquire additional coal properties in Colombia as well as producing oil wells in the U.S.
The Company has increased its authorized shares in preparedness for these near term acquisitions. We have no plans to enter into any financing that could have a negative impact on our shareholders. The increase was done with the long term view of executing our business plan to take advantage of the huge roll up opportunities both in Colombia and the U.S.
As you are aware, we have begun our environmental impact studies for La Tabaquera. We anticipate completing these studies and applying for our mining permit within three months of receiving the necessary financing. We have been in extensive talks this week with financiers that are willing to provide favorable financing.
The Company would like to thank our shareholders for their continued support as we move into the next phase of our development.
Sincerely,
John Campo, President
VSUS Technologies Inc.
VSUS Technologies is a growing company that is acquiring coal concessions in Colombia in order to satisfy the world market demand for coal. Once a concession is acquired and the necessary financing is obtained, the Company will begin all the required environmental and geological studies to get them into production as efficiently as possible. The Company plans to have three revenue producing business units in Colombia : coal mining, coking oven facilities, and docks and river transportation along the Magdalena River . The Company is also exploring allegiances with U.S. universities to study capturing Coal Bed Methane (CBM) in Colombia . For more information on our company visit our new website at www.vsustechnologies.com
Forward Looking Statements
Forward Looking Statements; This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. A statement containing works such as "anticipate," "seek," intend," "believe," "plan," "estimate," "expect," "project," "plan," or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Some or all of the events or results anticipated by these forward-looking statements may not occur. Factors that could cause or contribute to such differences include financing, the future U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations. VSUS Technologies, Inc. does not undertake any duty nor does it intend to update the results of these forward-looking statements.
Company Contact:
Mr. John CampoPresident(1)-410-236-8200 USA (57) 318-657-0918
Colombiajcampo@vsustechnologies.com
VSUS ColombiaCra. 16 # 79-31 Suite 703aBogota , Colombia www.vsustechnologies.com
Published at Investorideas.com Newswire
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Wednesday, May 23, 2012

Mining Stocks; YALE (TSX-V: YLL) Continues to Encounter Encouraging Results at Urique

VANCOUVER, British Columbia - May 23, 2012 (Investorideas.com Mining stocks Newswire) - Yale Resources Ltd. (TSX-V: YLL, OTCBB: YRLLF, and Frankfurt: YAB) is pleased to report additional gold and silver results from its ongoing comprehensive work program at the 290 square kilometre Urique Project, located in Chihuahua State, Mexico, immediately north of Goldcorp's El Sauzal gold mine and immediately south of Kimber Resources' Monterde Property. Work at Urique is being performed on behalf of optionee Mammoth Resources Ltd.

A majority of the work in the southern portion of the Urique Project has been concentrated on the approximately four kilometre by four kilometre area immediately surrounding the town of Urique. The most important target identified, to date, is the El Rosario Target, which is defined by an approximately 175 by 450 metre silica alteration zone on surface with multiple widely spaced workings that tested the system over a vertical extent of approximately 200 metres. Previous sampling by Yale encountered bonanza grades of silver (+1,000 g/t) over narrow widths (see news releases dated Feb. 6, 2008) whereas recent sampling has been successful in identifying wider widths of mineralization such as the highlights below:
  • 1.5 metre chip sample grading 4.77 g/t gold and 49.5 g/t silver;
  • 4.2 metre chip sample grading 1.21 g/t gold and 12.6 g/t silver; and
  • 1.4 metre chip sample grading 2.03 g/t gold and 14.4 g/t silver.
The El Rosario Target area is centred on the El Rosario working, which is made up of at least 600 metres of underground development that tested five veins � the longest of which was developed along at least 300 metres of strike length.
New mapping at El Rosario has re-interpreted a key geological unit that hosts the veining (and historic mining) at the El Rosario level to be a volcano-sedimentary unit that is much more extensive than previously thought. The orientation and size of this altered volcano-sedimentary unit may have significant implications on the controls on the emplacement of the high grade gold-silver mineralization and, as a result, on the potential to identify either feeder zones and or larger targets at depth.
Ongoing surface mapping and sampling continue to define the mineralization and alteration on surface as infill sampling has been successful in identifying additional zones of interest. A summary of the widespread sampling (defined by the nearest working) is provided below � to see a map of the El Rosario Target Area locating samples mentioned in this news release please click the following link: http://www.yaleresources.com/s/Urique.asp
Investorideas.com Newswire About Yale Resources:
Yale Resources utilizes the project generator business model to maximize its exposure to discovery while minimizing shareholder risk. Yale currently has eight projects in its portfolio of which four are optioned out with commitments totalling approximately $1.0 M in expenditures during the next 12 months.
Ian Foreman, P.Geo., is Yale's Qualified Person, according to National Instrument 43-101, for the Urique property and is responsible for any technical data mentioned in this news release.
Samples from Urique were prepared and analyzed by IPL Inspectorate in their facilities in Mexico and Vancouver, respectively. Samples generally consisted of 1-3 kg of material. Gold analyses were performed by 30 gram fire assay with an AA finish. Silver, copper, lead and zinc were analyzed as part of a multi-element ICP package using an aqua regia digestion. Over limit samples with greater than 1% Cu, Pb and Zn were re-analyzed using ore grade detection limits.
On behalf of the Board,
"Ian Foreman"
Ian Foreman, P.Geo.
President
For additional information on Yale Resources please call the Company at 604-678-2531.
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.
Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
Contact:
Yale Resources Ltd.
Ian Foreman, 604-678-2531
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Monday, May 21, 2012

Gold Stocks; Gold Bullion Development Corp. (TSX-V: GBB) releases 43-101 Technical Report on its Granada Gold Project

VANCOUVER - May 21, 2012 (Investorideas.com Mining stocks Newswire) - Gold Bullion Development Corp. (TSXV: GBB, OTC PINK: GBBFF) (the "Company" or "Gold Bullion") is pleased to provide an independent NI 43-101 Technical Report. prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"), on its Granada Gold Property, located along the prolific Cadillac trend in North-western Quebec , 5 km south of the city of Rouyn-Noranda.

The Technical Report, entitled "Granada Gold Project Resource Estimate, Rouyn-Noranda, Abitibi, QC", dated May 17, 2012 with an effective date of April 2, 2012 , was prepared by SGS Canada Inc. and authored by Claude Duplessis , P.Eng., and Gilbert Rousseau , P.Eng., Qualified Persons as defined by NI 43-101 and Karina Sarabia , GIT and Jonathan Gagné, P.Eng.. The Technical Report is available through the Internet under the Company's profile on the Canadian System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com and on the Company's website at www.goldbulliondevelopmentcorp.com.
At this time the exploration potential is open since only a small area has been explored with drilling by Gold Bullion. However, assuming that the geological controls observed at the Granada property are similar in size and grade to the other mineralized veins and the known mineralization, there is every reason to believe that the area of potential mineralization at the Granada property is large. In summary, SGS Canada Inc. considers that the proposed program for further exploration on the Granada project by Gold Bullion is both warranted and justified as the potential for the discovery of additional resources is good.
Recommendations include: exploration drilling at depth, north of existing drilling to validate extension of the mineralized package at depth; substantial additional drilling to improve resource estimates in the conceptual open pit area and extension; drilling to the west, to the north and to the east on a 40 to 50m grid of surface holes drilling southward at 55 degrees dip; and a few infill holes where gaps exist along with 3 cross sections of 3 holes on 100m line to tests mineralization behind existing artificial footwall.
About Gold Bullion Development Corp.
Gold Bullion Development Corp. is a TSX Venture-listed junior natural resource company focusing on the exploration and development of its Granada Property near Rouyn-Noranda, Québec. Additional information on the company's Granada gold property is available by visiting their website atwww.GoldBullionDevelopmentCorp.com and on SEDAR.com.
Frank J. Basa, P.Eng. 
President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
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Monday, May 07, 2012

Mining News: Raptor Resources Holdings Inc. (OTCQB: RRHI) Initiates Gravity Mapping Program at Dodge Mine

FREEHOLD, N.J. - May 7, 2012 (Investorideas.com Mining stocks newswire) Raptor Resources Holdings Inc. (OTCQB: RRHI) is pleased to announce that the gravity mapping program of Dodge Mine (Shamva, Zimbabwe) has started. With outstanding recommendations from barite geologist experts, the company has solicited the services of MWH GEO-Surveys Ltd. (http://www.mwhgeo.com/). Kevin MacNabb, owner/operator recently completed a pre-site survey of Dodge Mine to ensure the gravity mapping parameters of the hydrothermal mountain range are optimized to capture the multiple barite lenses across the property with additional recommendations to identify a variety of mineral/metal deposits.

Dodge Mine is classified as an Irregular Ore Body with close-spaced veinlets cutting the host rock and forming an intercalated network of cylindrical or cap-like deposits cutting across geological boundaries. Prior drilling reports identified barite, limestone/marble and talc. Of key interest is the documented widespread occurrences of gossans deposits indicating a massive undeveloped sulphide deposit often associated with gold, nickel, copper and lead. The presence of these metabasalt often point to gold in the host rock. Both local and international geologists have confirmed that the Dodge Mine barite deposits are world class, contain very high percentages of pure Barium Sulfate (BaSO4) and 100% recoverable.
Kevin MacNabb, owner/operator of MWH Geo-Surveys Ltd. stated, "These are exciting times for junior mining companies like Raptor Resources Holdings Inc. as I have watched firsthand the dramatic impact to shareholder value with successful gravity mapping programs performed for other mining companies in Africa." He further stated, "The pre-site survey was paramount in setting the optimum profile configuration for gravity mapping the Dodge Mine to address the unique features of their hydrothermal mountain range property."
Al Pietrangelo, President and CEO of Raptor Resources Holdings Inc. added, "We are excited to begin the mapping program teamed with highly acclaimed MWH Geo-Surveys Ltd and would like to thank Kevin for being proactive to personally assist us during the pre-site survey. With their state of the art Aliod 100X micro-gal gravity meters and GPS data loggers utilizing proprietary G Control software exclusive to the company, we look forward to sharing the data with our most prized resource of all, our shareholders."
Raptor Resources Holdings Inc. (parent/holding Company)
Raptor Resources Holdings Inc. is the parent/holding Company with three independently operating subsidiaries: TAG Minerals Inc., Mabwe Minerals Inc. and Lantis Laser, Inc.
(www.raptorresourcesholdings.com)
About TAG Minerals Inc.
TAG Minerals Inc. is a U.S. based (incorporated in Wyoming) mineral resource acquisition, exploration and development company, with operations conducted through its operating affiliate, TAG Minerals Zimbabwe (Private) Limited. The company's business is managed by its directors and officers who have mineral extraction and commercial experience. TAG's strategy is to identify, acquire and exploit mineral properties that have potential. TAG Minerals is augmented by independent financial, geological, and mining professionals who advise the company on its mining and exploration projects throughout Zimbabwe, Africa.
To find out more about the mining equipment utilized by TAG; visit (www.extrac-tec.com)
About Mabwe Minerals Inc.
Mabwe Minerals Inc. is a U.S. based natural resources and hard asset OTCQB publicly traded, fully reporting company engaged in the mining and commercial sales of industrial minerals and metals.
About Lantis Laser, Inc.
Lantis Laser, Inc. is developing under license, synergistic, high resolution, light-based imaging modalities which can detect decay and microstructural defects at an early stage, and unlike x-ray, do not emit potentially harmful ionizing radiation. Its products are in development and cannot be sold until FDA clearance for marketing is obtained.
(http://www.lantislaser.com)
For more news on OCT in Dentistry; visit: (www.octnews.org)
Safe Harbor.
Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such statements about the company's future expectations, including future revenues and earnings, technology efficacy and all other forward-looking statements be subject to the safe harbors created thereby. The company is a development stage company who continues to be dependent upon outside capital to sustain its existence. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results.
Published at Investorideas.com Newswire
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TSX Mining News: SilverCrest (SVL.V) (STVZF.PK) Reports 127.4m @ 65.6 gpt Ag Eq(i) at La Joya Expands Main Mineralized Trend to Northeast and Southwest

VANCOUVER, BRITISH COLUMBIA - May 7, 2012 (Investorideas.com Mining stocks newswire) SilverCrest Mines Inc. (SVL.V) (STVZF.PK) (STVZF.PK) (the "Company") is pleased to announce the results of a further 16 holes of the Phase II drill program currently underway at its La Joya Property in Durango, Mexico. The Phase II program comprises an estimated 80 holes totaling approximately 15,000 metres. Phase II drilling to date has extended the Main Mineralized Trend ("Trend") an additional 500 meters to the northwest beyond the area of the current resource of 101.9 million ounces Ag Eq.(i) (see News release dated March 20, 2012). New results show the Trend expanding an additional 200 metres to the northeast and 100 metres to southwest with the average width increasing from 500 to approximately 700 metres along a strike length of 2,500 metres (see attached figure: here). Please reference our website at www.silvercrestmines.com for more information, photos and figures on La Joya.

J. Scott Drever, President stated: "In January we announced an initial Inferred Resource in a portion of the Trend of 57.9 million tonnes grading 28 gpt Ag, 0.18 gpt Au and 0.21% Cu and containing 101.9 million ounces Ag Equivalent(i). We have since drilled 23 holes as a part of the second phase of drilling that have successfully expanded mineralization in all lateral directions with the possible expansion of the resource along the Trend. We have begun to drill the area to the southeast of the declared resource which, based on previous historic drilling and our surface sampling results, is expected to host the most attractive mineralized portion of the Trend".
These further 16 holes have partially tested the eastern and western margins of the northern end of the Trend and have provided in-fill information within the resource area. Silver values range from 2.6 gpt to 255.7 gpt and on a silver equivalent(i) basis values range from 24.0 gpt to 445.6 gpt Ag Eq. Mineralized intervals range from 3.5 metres to 127.4 metres. True thicknesses of mineralized intercepts can be approximated from previously announced drill holes in associated areas and cross-sections. The most significant assay results are shown in the following table;
Investorideas.com Newswire Investorideas.com Newswire Investorideas.com Newswire All sample analyses were completed by ALS Chemex in Zacatecas, Mexico and North Vancouver, BC, Canada.
Holes L J DD12-40 and L J DD12-41 have identified additional mineralization along the Contact Zone which had been previously drilled and defined as mineralization near the contact of Cretaceous sediments and underlying quartz feldspar porphyry stock and dykes. The Contact Zone is exposed at surface and in this area has a northwest-southeast strike approximately one and a half kilometer long with semi-massive to massive sulfide mineralization (primarily chalcopyrite and pyrrhotite) immediately adjacent to contacts. This type of mineralization is similar to that of the nearby producing Penoles' Sabinas Mine.
Holes L JDD12-44 to 48 have identified additional mineralization in the Northeast portion of the Trend previously identified as the "Esperanza" target. This mineralization is similar to previously defined mantos, structures/stockwork and the Contact Zone although the mantos and structures appear to be fewer in number and somewhat deeper than in the central section of the Trend. Further drilling in this area is required to better define near surface mineralization.
Core samples for holes L J DD12-49 to L J DD12-52 are currently in the laboratory being analyzed. The program is currently drilling at hole L JDD12-53 located on the south central part of the Trend. Assays for the next series of holes will be reported upon receipt and compilation. Several holes contain anomalous molybdenum, tungsten, lead and zinc values over significant widths in the skarn. The significance of these associated mineral zones is being examined.
The Phase II 80 hole drill program is expected to test approximately 2.5 kilometres of the Trend that includes at least the 8 near-vertical structures/stockwork zones, 14 near-horizontally stacked mantos plus the Contact Zone adjacent to the underlying intrusive. Drilling on the southern extension of the Trend has commenced. Based on Company surface mapping, sampling and historic drill hole results, this area is thought to be potentially the highest grade area along the Trend.
The La Joya Deposit currently has estimated Inferred Resources of:
Investorideas.com Newswire Please refer to the January 4, 2012 news release for further details of the Inferred Resource estimate and to the La Joya NI 43-101 Technical Report filed on www.Sedar.com
The Qualified Person under National Instrument (NI 43-101) Standards of Disclosure for Mineral Projects for this News Release is N. Eric Fier, CPG, P.Eng, and Chief Operating Officer for SilverCrest Mines Inc., who has reviewed and approved its contents.
SilverCrest Mines Inc. (SVL.V) (STVZF.PK) is a Mexican precious metals producer with headquarters based in Vancouver, BC. SilverCrest's flagship property is the 100%-owned Santa Elena Mine, which is located 150 km northeast of Hermosillo, near Banamichi in the State of Sonora, Mexico. The mine is a high-grade, epithermal gold and silver producer, with an estimated life of mine cash cost of US$8 per ounce of silver equivalent (55:1 Ag:Au). SilverCrest anticipates that the 2,500 tonnes per day facility should recover approximately 4,805,000 ounces of silver and 179,000 ounces of gold over the 6.5 year life of the open pit phase of the Santa Elena Mine. A three year expansion plan is underway to double metals production at the Santa Elena Mine and exploration programs are rapidly advancing the definition of a large polymetallic deposit at the La Joya property in Durango State.
FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking statements" within the meaning of Canadian securities legislation and the United States Securities Litigation Reform Act of 1995. 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, plans related to its business 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, including silver and gold production and planned work programs. Statements concerning reserves and mineral resource estimates may also constitute forward-looking statements to the extent that they involve estimates of the mineralization that will be encountered if the property is developed and, in the case of mineral reserves, such statements reflect the conclusion based on certain assumptions that the mineral deposit can be economically exploited.
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 from those expressed or implied by the forward-looking statements, including, without limitation: risks related to precious and base metal price fluctuations; risks related to fluctuations in the currency markets (particularly the Mexican peso, Canadian dollar and United States dollar); risks related to the inherently dangerous activity of mining, including conditions or events beyond our control, and operating or technical difficulties in mineral exploration, development and mining activities; uncertainty in the Company's ability to raise financing and fund the exploration and development of its mineral properties; uncertainty as to actual capital costs, operating costs, production and economic returns, and uncertainty that development activities will result in profitable mining operations; risks related to reserves and mineral resource figures being estimates based on interpretations and assumptions which may result in less mineral production under actual conditions than is currently estimated and to diminishing quantities or grades of mineral reserves as properties are mined; risks related to governmental regulations and obtaining necessary licenses and permits; risks related to the business being subject to environmental laws and regulations which may increase costs of doing business and restrict our operations; risks related to mineral properties being subject to prior unregistered agreements, transfers, or claims and other defects in title; risks relating to inadequate insurance or inability to obtain insurance; risks related to potential litigation; risks related to the global economy; risks related to the Company's status as a foreign private issuer in the United States; risks related to all of the Company's properties being located in Mexico and El Salvador, including political, economic, social and regulatory instability; and risks related to officers and directors becoming associated with other natural resource companies which may give rise to conflicts of interests. 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.
The information provided in this news release is not intended to be a comprehensive review of all matters and developments concerning the Company. It should be read in conjunction with all other disclosure documents of the Company. The information contained herein is not a substitute for detailed investigation or analysis. No securities commission or regulatory authority has reviewed the accuracy or adequacy of the information presented.
J. Scott Drever, President
SILVERCREST MINES INC.
Neither TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact:
SilverCrest Mines Inc.
Fred Cooper
(604) 694-1730 ext. 108
Toll Free: 1-866-691-1730
(604) 694-1761 (FAX)
info@silvercrestmines.com
www.silvercrestmines.com

Wednesday, May 02, 2012

Gold and Mining Stocks News Alert: Barrick Gold (NYSE:ABX) (TSX:ABX) Announces 33% Dividend Increase

All figures in US dollars
TORONTO, ONTARIO - May 2, 2012 (Investorideas.com Mining stocks newswire) Barrick Gold Corporation (NYSE:ABX) (TSX:ABX) today announced that, consistent with its practice of paying a progressive dividend, the Board of Directors has authorized a quarterly dividend of US20 cents per share, which represents a 33% increase from the previous dividend.

Barrick's strong earnings and operating cash flows, combined with its positive outlook on the gold price, enables the Company to continue to make high return investments in its project pipeline and also increase its dividend. Over the last six years, Barrick has had a consistent track record of progressively returning more capital to shareholders, increasing its dividend by more than 260%(1) on a quarterly basis(2).
The quarterly dividend is payable on June 15, 2012 to shareholders of record at the close of business on May 31, 2012.
Barrick's vision is to be the world's best gold company by finding, acquiring, developing and producing quality reserves in a safe, profitable and socially responsible manner.
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
Certain information contained in this press release, including any information as to our strategy, projects, plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance, constitute "forward-looking statements". All statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The Company cautions the reader that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual financial results, performance or achievements of Barrick to be materially different from the Company's estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. These risks, uncertainties and other factors include, but are not limited to: changes in the worldwide price of gold, copper or certain other commodities (such as silver, fuel and electricity); operating or technical difficulties in connection with mining or development activities; the speculative nature of exploration and development, including the risks of obtaining necessary licenses and permits and diminishing quantities or grades of reserves; and changes in costs and estimates associated with our projects. Certain of these factors are discussed in greater detail in the Company's most recent Form 40-F/Annual Information Form on file with the U.S. Securities and Exchange Commission and Canadian provincial securities regulatory authorities.
The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
(1) Calculated based on converting the 2006 semi-annual dividend of US11 cents per share to a quarterly equivalent.
(2) The declaration and payment of dividends remains at the discretion of the Board of Directors and will depend on the Company's financial results, cash requirements, future prospects and other factors deemed relevant by the Board.
Contact Information
INVESTOR CONTACT: Greg Panagos
Senior Vice President
Investor Relations and Communications
(416) 309-2943
gpanagos@barrick.com

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