Investor News; TSX Venture Exchange Closing Summary - Most Active by Volume ; (TSX: ADD,NPE,LME, TMM)

Investor News; TSX Venture Exchange Closing Summary for September 29, 2010

VANCOUVER, BRITISH COLUMBIA--(http://www.investorideas.com/ gold and mining stocks blog ) 
  
The following report is available on tsx.com at the following web page:
http://www.tsx.com/en/news_events/media_kit.html

Trading was very heavy on a volume of 358.0 million shares worth 187.1 million dollars.
There were 438 advances, 437 declines and 575 issues unchanged.
The S&P/TSX Venture Composite Index closed up 8.48 at 1703.11

Most Active Issues by Volume
Volume	Name	Symbol	Close	Change
11,810,600	Arctic Star Diamond Corp.	ADD	$0.055	$0.010
8,778,650	North Peace Energy Corp	NPE	$0.215	$0.065
5,640,700	Laurion Mineral Exploration Inc	LME	$0.120	$0.035
5,438,670	Timmins Gold Corp.	TMM	$2.190	$0.310
5,379,900	Journey Resources Corp	JNY	$0.030	-$0.005
5,184,700	Northern Star Mining Corp.	NSM	$0.015	-$0.005
4,499,149	Victoria Gold Corp	VIT	$1.200	$0.150
4,174,255	AM Gold Inc	AMG	$0.540	$0.000
3,659,000	Seaway Energy Services Inc.	SEW	$0.030	$0.000
3,567,393	Northern Gold Mining Inc	NGM	$0.415	$0.025

Most Active Securities by Value
Value	Security Name	Symbol	Close	Change
$11,228,014	Timmins Gold Corp.	TMM	$2.190	$0.310
$7,670,822	Canaco Resources Inc.	CAN	$3.350	-$0.090
$6,597,546	Rare Element Resources Ltd.	RES	$8.600	-$0.450
$6,039,623	San Gold Corporation	SGR	$3.450	-$0.070
$5,053,705	Victoria Gold Corp	VIT	$1.200	$0.150
$4,740,727	ATAC Resources Ltd.	ATC	$6.280	$0.280
$4,571,597	Bear Creek Mining Corporation	BCM	$6.000	$0.100
$3,479,352	Rainy River Resources Ltd.	RR	$8.610	-$0.090
$2,949,777	Quest Rare Minerals Ltd	QRM	$5.110	-$0.280
$2,938,199	Coastal Energy Company	CEN	$4.000	-$0.050

NEX Closing Summary for September 28, 2010
Trading was moderate on a volume of 1.72 million shares worth 0.38 million dollars.
There were 5 advances, 5 declines and 25 issues unchanged.

Most Active Issues by Volume
Volume	Name	Symbol	Close	Change
472,740	East West Petroleum Corp	EW.H	$0.570	$0.030
343,000	Zaruma Resources Inc	ZMR.H	$0.055	-$0.005
270,500	Canamex Silver Corp	CSQ.H	$0.045	-$0.005
110,000	Cheetah Ventures Ltd	CHV.H	$0.275	-$0.015
100,158	First Metals Inc	FMA.H	$0.005
85,000	Duncan Park Holdings Corporation	DPH.H	$0.070	$0.005
80,000	Atlantis Systems Corp	AIQ.H	$0.025	$0.005
33,500	Coalcorp Mining Inc	CCJ.H	$0.090	$0.000
30,000	Ballyliffin Capital Corp.	BLL.H	$0.150	-$0.005
28,500	Afrasia Mineral Fields Inc.	AFS.H	$0.155	-$0.005

Most Active Securities by Value
Value	Security Name	Symbol	Close	Change
$272,850	East West Petroleum Corp	EW.H	$0.570	$0.030
$29,805	Cheetah Ventures Ltd	CHV.H	$0.275	-$0.015
$18,620	Zaruma Resources Inc	ZMR.H	$0.055	-$0.005
$12,173	Canamex Silver Corp	CSQ.H	$0.045	-$0.005
$6,240	X-Tal Minerals Corp.	XMT.H	$0.650	$0.000
$5,950	Duncan Park Holdings Corporation	DPH.H	$0.070	$0.005
$5,000	Mira Resources Corp	MRP.H	$0.250	$0.000
$4,600	Ballyliffin Capital Corp.	BLL.H	$0.150	-$0.005
$4,418	Afrasia Mineral Fields Inc.	AFS.H	$0.155	-$0.005
$3,300	Brookwater Ventures Inc.	BW.H	$0.330	$0.075

NOTE: This document is for information purposes only and is not an invitation to purchase any securities listed on TSX Venture Exchange and/or NEX. While the information herein is collected and compiled with care, neither TSX Venture Exchange Inc., TSX Inc. nor any of their respective affiliated companies represents, warrants or guarantees the accuracy or the completeness of the information. This information is provided with the express condition, to which by purchasing or making use thereof you expressly consent, that no liability shall be incurred by TSX Venture Exchange Inc., TSX Inc. and/or any of its affiliates as a result of any use or reliance upon this information.




"S&P" is a trade-mark of The McGraw-Hill Companies, Inc. and is used under licence by TSX Inc. and "TSX" is a trade-mark of TSX Inc.

For more information, please contact
TSX Venture Exchange - Closing Market Report
TSX Datalinx
(416) 947-4452
Email: marketdata@tsxdatalinx.com

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Mining Stocks;  JOURDAN Commences Exploration at the Pivert-Stairs Rare Metals Property Contiguous to and Within First Gold Exploration's Pivert/Rose Rare Metals Property, James Bay Mining District (Quebec)

MONTREAL, QUEBEC--(http://www.investorideas.com/ gold and mining stocks blog ) - Sept. 29, 2010) - JOURDAN RESOURCES INC. (TSX VENTURE:JRN) ("JOURDAN" or the "Company") is pleased to announce the start of the 2010 exploration campaign at the Company's 93 claims / 49.5 km² Pivert-Stairs Rare Metals Property (the "Property"). The Property is contiguous to and within First Gold Exploration's Pivert/Rose Rare Metals Property where recent work outlined significant quantities of the Rare Metals Lithium, Rubidium, Tantalum, Beryllium, Niobium and Gallium, in the James Bay Mining District, located due south of the community of La Grande (Quebec).

The exploration campaign will initially consist of compiling and synthesizing the historic and current work on the Property and surroundings that will include incorporating regional airborne and ground geophysical surveys to better identify the 12+ km long Pivert Rare Metals Corridor, and surface prospecting to identify surface Lithium and other Rare Metals mineralization. If the results are favourable, diamond drilling will follow to delineate the potential size of the Rare Metals mineralization.
JOURDAN's Pivert-Stairs Rare Metals Property and the Pivert Rare Metals Corridor
JOURDAN holds 93 claims for 4,948 hectares or 49.5 km² covering 12+ km in length of the prospective Pivert Rare Metals Corridor (refer to the appended location map). The Property sits less than 5 km from the Eastmain-1 Hydroelectric facility where substantial infrastructure exists. There is an access road to within 500 m of the Lac Pivert East #1 and #2 and Lac Pivert West Claim Blocks. A north-south hydro line straddles the Lac Pivert West Claim Block.

The Property consist of the Pivert East #2 Claim Block (12 claims; 636 hectares for 6.4 km²) immediately contiguous and less than 1 kilometre to the northeast of the First Gold Exploration (TSX-V: EFG) ("First Gold") Lac Pivert Lithium Showing on First Gold's Pivert/Rose Rare Metals Property; the Lac Pivert West Claim Block (2 claims; 106 hectares for 1.1 km²) between First Gold's Lac Pivert Lithium and 2.5 kilometres from their new Rose Lithium-Rubidium Discovery; the Stairs Claim Block (43 claims; 2,282 hectares for 22.8 km²) immediately contiguous to the southwest of First Gold's Rose Lithium-Rubidium Discovery; and the Pivert East #1 Claim Block (36 claims; 1,924 hectares for 19.2 km²) immediately contiguous to and northeast of the Pivert East #2 Claim Block. The Property is easily accessible via an extensive road and trail network.
First Gold previously announced surface sampling and diamond drilling results (on adjacent claims) with significant quantities of the Rare Metals Lithium, Rubidium, Tantalum, Beryllium, Niobium, Cesium and Gallium. Surface grab sampling yielded 4.6% Li₂O, 390 g/t Rubidium, 1.4 g/t Tantalum, 67.7 g/t Niobium, 106.5 g/t Gallium, 90 g/t Beryllium (#430917); and in drilling up to 21.45 m (true width) yielding 1.22% Li₂O, 2,983 g/r Rubidium, 206 g/t Ta₂O₅, 139 g/t Beryllium, 117 g/t Cesium and 78 g/t Gallium (LR-10-75). Mineralization occurs at surface in near horizontal spodumene-bearing intrusives. The company recently announced the discovery of additional showings and is slated to release compliant Mineral Resources for their property by year end (www.firstgoldexploration.com).


Earlier work by the Ministère des ressources naturelles et de la faune Québec (Boisvert, 1989) describes the Property area as containing irregular but generally continuous lenses of pegmatites within the host biotite schists. Individual pegmatites can attain up to 60 m in width and more than 100 m in length, collectively forming part of a much larger bodies having kilometric lengths and widths up to 300 m. Additional work uncovered a number of Lithium showings in the region with a similar metallogenic context to Lithium One's Cyr Lithium Property and First Gold's Pivert/Rose Rare Metals Property, where irregular but generally continuous spodumene (a lithium bearing aluminum silicate) bearing pegmatites occur.
Historical work on Cyr Lithium Property has demonstrated significant Lithium potential, identifying a resource potential* of 12 million tonnes (45,000 m² by 100 m deep) grading 1.7% Li₂O (www.lithium1.com). A resource potential estimate should not be relied on and is not considered National Instrument ("NI") 43-101 compliant. A Qualified Person has not reviewed and evaluated the resource potential to outline NI 43-101 Mineral Resources. It is uncertain that any future exploration and development work will result in any of the resource potential to be considered as NI 43-101 Mineral Resources. A resource potential estimate should only be considered as an indication of mineralization.
About Jourdan Resources
Jourdan Resources Inc. is a Canadian junior mining exploration company trading under the symbol JRN on the TSX Venture Exchange. The Company is focused on the acquisition, exploration, production, development and if, as the case may be, the operation of mining properties in strategic Uranium and Rare Metals or High Technology Metals ("HTM's") sectors of eastern Canada. The Company's properties are currently at the exploration stage along the Lower North Shore, the Mauricie and now the James Bay regions of Quebec.
The technical information in this news release was approved by Mr. Jean Lafleur, M. Sc., P. Geo., Technical Advisor to the President and CEO of JOURDAN, and a Qualified Person under NI 43-101 regulations.
Please visit the Company's website at www.jourdan.ca, and you can also download Jourdan's Corporate Summary at www.jourdan.ca/jrn.pdf.
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. Statements in this release that are not historic facts are "forward-looking statements" and readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results, may vary materially from those in these "forward-looking statements.
To view the location map of JOURDAN Resources Inc.'s Pivert-Stairs Rare Metals Property in the James Bay Mining District of northern Quebec, please visit the following link:

For more information, please contact
Emilien Seguin
President and CEO, Director
450-670-5224
514-787-1457 (FAX)
or
Guy Girard
VP Finance, Director
514-798-1290
514-787-1457 (FAX)
info.jourdan.ca

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(TSX:IRD) News ; IRD Announces New Contract Awarded in Mongolia Valued at CDN $769,000

(TSX:IRD)  News ;  IRD Announces New Contract Awarded in Mongolia Valued at CDN $769,000

SASKATOON, SASKATCHEWAN--(http://www.investorideas.com/ gold and mining stocks blog )  - Sept. 29, 2010) - International Road Dynamics Inc. (IRD) (TSX:IRD) announced today that it has been awarded a new contract in Mongolia by MCS Electronics valued at CAD $769,000. The project involves the supply and installation of IRD's Weigh-in-Motion and toll collection systems along the Tavan Tolgoi – Gashuun Sukhait toll road, a crucial route being used to enhance mining development and expansion in the Gobi region bordering China. The toll road is built to transport coal to China from the Ukhaa Khudag (UHG) coal deposit, a high quality coal deposit in Mongolia.
The contract involves the supply of a toll system at 4 plazas as well as 4 pre-selection slow speed Weigh-in-Motion sorting systems to keep overloaded trucks off the road. Further, the contract involves the use of RFID tags and readers to collect tolls from the trucks using the toll way. All over-weight trucks will be prevented from using the toll road. MCS Electronics will act as the contractor for this project which is scheduled to be commissioned in early 2011.
"We are extremely pleased to be extending our presence in Asia with this important new contract," commented Terry Bergan, President and Chief Executive Officer of IRD. "Our installed solution will ensure proper asset management of the toll road and provide suitable monitoring and screening to assist with proper operations and management of this important transportation link between Mongolia and China."
About IRD
IRD is a highway traffic management technology company specializing in supplying products and systems to the global Intelligent Transportation Systems (ITS) industry. IRD is a North American company based in Saskatoon, Saskatchewan Canada with sales and service offices throughout the United States and overseas. Private corporations, transportation agencies and highway authorities around the world use IRD's products and advanced systems to manage and protect their highway infrastructures.
About MCS Electronics
MCS Electronics is a leading Systems Integrator Company that owns the largest market share in Mongolia's ICT industry and has implemented several long term and large scale ICT and industrial automation projects in the region over the past thirteen years.
The Company's shares trade on the Toronto Stock Exchange under the symbol IRD.
IRD is listed on the TSX - trading symbol - IRD

For more information, please contact

International Road Dynamics Inc.
Terry Bergan
President & CEO
(306) 653-6600 or U.S. (303) 355-5998
or
International Road Dynamics Inc.
Francine Senecal-Lepage
Investor Relations
(306) 653-6603
(306) 653-6609 (FAX)
irdir@irdinc.com
www.irdinc.com

 

 

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(TSX VENTURE:TUF)  News; Honey Badger Exploration and Entree Gold Provide Exploration Update

TORONTO, ONTARIO--(http://www.investorideas.com/ gold and mining stocks blog )  - Sept. 29, 2010) - Honey Badger Exploration Inc. (TSX VENTURE:TUF) ("Honey Badger" or the "Company") announces that Entrée Gold, the operator for Honey Badger's Blackjack Property, has provided an update on the on-going exploration program in the Yerington district of Nevada. The exploration to date has confirmed the presence of copper mineralization on the Blackjack Property.


In 2009, Honey Badger entered into an option agreement with Entrée Gold Inc. (TSX:ETG)(NYSE Amex:EGI)(FRANKFURT:EKA)  ("Entrée") for the Blackjack property, a large property immediately contiguous to PacMag's Ann Mason project, and the Roulette Property (an option agreement property between Bronco Creek Exploration Inc., and Entrée) in the developing Yerington copper camp of western Nevada.
The Blackjack property lies immediately to the west of Ann Mason and to the north of the Roulette. Drilling commenced in June to test several anomalies first outlined by a GeoTech AirMT geophysical survey completed in 2009, as well as recent IP results and anomalous copper geochemistry interpreted to represent the continuation of the Blue Hill oxide copper zone across the property boundary from Ann Mason. Seven holes totaling 2,820 metres have been completed. One of the holes (EG-B-10-001), sited to test an AirMt target and coincident IP anomaly, intersected stringers of chalcopyrite in rocks below a shallow-dipping fault. The presence of copper mineralization associated with this IP anomaly is an important development. Although offset by faulting, the IP anomaly extends 5 kilometres west and southwest from EG-B-10-001. Five of the Blackjack holes were sited on the possible westward extension of the Blue Hill zone of mineralization; the upper portions of all five holes are strongly oxidized and iron-rich, with occasional oxide copper minerals noted. Full assay results are pending.
The Ann Mason property was acquired by Entrée through a recent merger with PacMag Metals. The property hosts a major inferred sulphide copper resource of 810 million tonnes grading 0.40% Cu (7+ billion pounds of contained copper) in the Ann Mason deposit. Compilation of previous drilling done over Ann Mason suggests there is room to expand the current resource to the west (towards and onto the Blackjack Property) and northwest. Further information about the Ann Mason deposit can be found in the company's technical report on www.sedar.com.



In addition, potential exists for shallow oxide copper resources and additional sulphide mineralization in separate zones at Blue Hill. Reverse circulation drilling is currently underway by Entrée at Blue Hill (on the PacMag property), with 14 of the planned 20 holes totaling 2,364 metres completed to date. Initial assay results confirm the presence of a near surface zone of oxide copper mineralization, which will be better defined by the current drill program. Visual identification of copper sulphide mineralization at the bottom of several drill holes indicates the Blue Hill sulphide zone, first discovered in PacMag holes BH08001 and BH08003 can, with additional core drilling, be extended 600 metres or more southwest of the two discovery holes. The Blue Hill sulphide mineralization remains open to the northeast, southeast and at depth.
With the following results, the copper mineralization defined to date confirms the Company's belief that Yerington has the potential for additional undiscovered copper deposits.
About Honey Badger Exploration Inc.
Honey Badger Exploration is a gold and base-metals exploration company headquartered in Toronto, Ontario, Canada. The Company's current exploration projects are focused in the mining-friendly State of Nevada. The "Yerington Project" is a copper porphyry and skarn property near the town of Yerington, and positions the Company for new exploration in prolific copper districts. The Company's common shares trade on the TSX Venture Exchange under the symbol "TUF".
For more information, please visit our website at http://www.honeybadgerexp.com.
This News Release contains forward-looking statements. Forward-looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.

For more information, please contact
Honey Badger Exploration Inc.
Brent Nykoliation
Vice President of Business Development
(416) 364-7029
(416) 364-2753 (FAX)
bnykoliation@HoneyBadgerexp.com
or
Honey Badger Exploration Inc.
Kirk McKinnon
President & CEO
(416) 364-7029
or
Honey Badger Exploration Inc.
Richard Schler
Chief Operating Officer & CEO
(416) 364-7029

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(TSX:VG)(FRANKFURT:VN3)(OTCQX:VGGCF) News; VG Gold and Lexam Explorations to Combine

Rob McEwen to Invest Additional $5 Million in New Company
Timmins Focused, Excellent Projects and Strong Treasury

TORONTO, ONTARIO--(http://www.investorideas.com/ gold and mining stocks blog _  - Sept. 29, 2010 - VG GOLD CORP. (TSX:VG)(FRANKFURT:VN3)(OTCQX:VGGCF) and LEXAM EXPLORATIONS INC. (TSX VENTURE:LEX) are pleased to announce that they have reached an agreement in principle to combine the two companies to create a well funded exploration company focused on the Timmins mining camp in Northern Ontario. The combination would be effected through a Plan of Arrangement under which common shareholders of VG Gold would receive one common share of the combined company for every common share of VG Gold currently held, and common shareholders of Lexam would receive 2.1 common shares of the combined company for every common share of Lexam currently held. Under the proposed transaction, Rob McEwen, the current Chairman and CEO of Lexam, would acquire a major stake in the combined company through a private placement of $5 million and his current 49% percent ownership interest in Lexam. Rob McEwen will become the Chairman of the combined company and Tom Meredith, the current President and CEO of VG Gold, will hold those positions in the combined company.
Highlights of the combined company would include:

• Strategic land position: Well positioned around Goldcorp's Dome Mine that has produced 17 million ounces of gold.
• Growing resource base with initial Paymaster West estimate due at year-end.
• Aggressive exploration: $10.0 million exploration program over next twelve months.
• Strong treasury: Approximately $15.0 million in cash and no debt.
• Attractive valuation versus Timmins peer group.
• Combined company to be named "Lexam VG Gold Inc."

"Northern Ontario is an area that has been particularly kind to me and I am a firm believer that there remains a lot more gold to be found. By combining VG Gold and Lexam we are creating a vehicle that has excellent properties and a strong treasury, enabling the company to aggressively explore for the next major gold discovery," stated Rob McEwen, Chairman and CEO of Lexam.
"The combination of VG Gold and Lexam creates a compelling opportunity for shareholders of both companies! The addition of Rob McEwen as Lexam VG Gold's Chairman is a testament to the value enhancing opportunities that exist before the combined company," stated Tom Meredith, President and CEO of VG Gold.
The share ratio under the proposed transaction represents an approximate share value equal to $1.01 per Lexam common share based on VG Gold's closing market price on September 28, 2010. This amount represents an approximate 10% premium over Lexam's Net Asset Value. The calculation of Lexam's Net Asset Value excludes the company's Baca Oil and Gas and Otish Uranium projects.
The transaction is subject to board approval of a definitive agreement between VG Gold and Lexam, the satisfactory completion of due diligence investigations and the receipt of an opinion by each company's financial advisors that the consideration offered under the offer is fair, from a financial point of view, to its shareholders. In addition, an independent valuation for the benefit of VG Gold shareholders will be completed. VG Gold and Lexam have agreed to negotiate exclusively with each other for 21 days.
Under the terms of the agreement in principle, Rob McEwen will invest $5 million in the combined company by way of private placement of 10,416,667 common shares at $0.48 per share plus, for each common share purchased in the private placement, a two-year half-warrant, with each full warrant exercise price of $1.00. After completion of the Plan of Arrangement and private placement, Mr. McEwen will personally own approximately 28% of the combined company's outstanding shares and 30% on a partially diluted basis assuming exercise of the warrants.
The following table illustrates on a pro-forma basis, the share structure of the combined company after giving effect to the proposed transaction and Mr. McEwen's private placement:

VG Gold common shares outstanding	180,378,727
Shares issuable in exchange for Lexam common shares (+)	101,848,503
Shares of VG Gold owned by Lexam to be cancelled (-)	(75,000,000)
Shares issued to Rob McEwen in $5 million private placement (+)	10,416,667
Pro-forma common shares outstanding	217,643,897
VG Gold warrants outstanding	5,340,750
VG Gold options outstanding	4,325,000
VG Gold warrants to Rob McEwen in $5 million private placement	5,208,333
Lexam options converted into VG Gold options	525,000
Pro-Forma fully diluted shares	233,042,980

SHAREHOLDER AND REGULATORY APPROVALS
If a definitive agreement is reached, the transaction will be conditional on VG Gold obtaining majority of minority shareholder approval for VG Gold, meaning approval of more than 50% of the shares voted, excluding shares held by Lexam, its insiders and other parties related to Lexam. The transaction is also conditional upon Lexam obtaining 66-2/3% approval from shareholders and other customary conditions. In addition, both companies would be entitled to a termination fee of $1.25 million upon the occurrence of customary termination fee events, including the termination of the definitive agreement by either company in order to enter into a superior proposal with a third party.
The transaction is also subject to all applicable regulatory approvals, including stock exchange approval.
Boards of both companies have established committees of independent directors to evaluate the combination and make a recommendation to their respective full board of directors.


CAUTIONARY STATEMENT
Some of the statements contained in this release are "forward-looking statements". Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied by such forward looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties such as: ability to raise financing for further exploration and development activities; risks as to business integration; risks relating to estimates of reserves, deposits and production costs; extraction and development risks; the risk of commodity price fluctuations; political, regulatory and environmental risks; and other risks and uncertainties in the reports and disclosure documents filed by VG Gold and Lexam from time-to-time with Canadian securities regulatory authorities. The companies disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Neither the TSX nor the TSX-Venture has reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by management.

For more information, please contact
VG Gold Corp.
Tom Meredith
President & CEO
(416) 368-0099
(416) 368-1539 (FAX)
vgir@vggoldcorp.com
www.vggoldcorp.com
or
Lexam Explorations Inc.
Daniela Ozersky
Manager, Investor Relations
(647) 258-0395 or Toll Free: (866) 441-0690
(647) 258-0408 (FAX)
info@lexamexplorations.com
www.lexamexplorations.com

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(TSX VENTURE:HLO)(FRANKFURT:HRLN)  News; Halo Announces CDN$400,000 Financing

TORONTO, ONTARIO--(http://www.investorideas.com/ gold and mining stocks blog )  - Sept. 29, 2010) - Halo Resources Ltd. (TSX VENTURE:HLO)(FRANKFURT:HRLN) (the "Company") is pleased to announce that, further to a price reservation form filed with the TSX Venture Exchange ("TSX.V") on September 14, 2010, a non-brokered private placement ("Private Placement") has been arranged by the Company to raise up to $400,000 through the sale of up to 1,600,000 units ("Units") at a price of $0.25 per Unit. Each Unit comprises one common share of the Company and one common share purchase warrant (a "Warrant"). Each Warrant is exercisable to acquire one additional common share of the Company for two years at a price of $0.35 per share. Proceeds from the Private Placement will be used for exploration of the Company's properties. A finders fee is payable on a portion of this placement.

The Private Placement is subject to the approval of the TSXV.
ON BEHALF OF THE BOARD OF DIRECTORS


Marc Cernovitch, Chairman
About Halo Resources Ltd.Halo is a Canadian-based resource company focused on the acquisition of near production base and precious base metal deposits. The Company's focus is the 200 sq. km. Sherridon VMS Property, a combination of mature and grassroots volcanogenic massive sulphide (VMS) copper, zinc and gold exploration opportunities. A 2008 NI43-101 compliant copper-zinc resource, for four of the known deposits in the district, was completed in less than 18 months. The Company has a joint venture interest in the Duport Property, an advanced gold property near Kenora, Ontario and is the operator for several contiguous joint venture properties in West Red Lake covering 45 sq. km. The Company is operated by an experienced management team with a growth strategy to develop a diversified portfolio of advanced mining projects.

Forward Looking StatementsThis Company Press Release may contain certain "forward-looking" statements and information relating to the Company that are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, competitive factors, general economic conditions, customer relations, relationships with vendors and strategic partners, the interest rate environment, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein.

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

For more information, please contact
Halo Resources Ltd.
Michael Joyner
IR
416-619-7539
416-601-9046 (FAX)
ir@halores.com
www.halores.com

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St. Eugene Mining (TSX VENTURE:SEM) Corporation Announces Private Placement

TORONTO, ONTARIO--(http://www.investorideas.com/ gold and mining stocks blog )  - Sept. 29, 2010) - St. Eugene Mining Corporation Ltd. (TSX VENTURE:SEM) ("St. Eugene" or the "Company") announces a non-brokered private placement offering of up to up to 6,250,000 Units at a price of $0.12 per Unit for gross proceeds of up to $750,000. Each Unit shall be comprised of one flow-through common share and one-half of one Purchase Warrant. Each full Purchase Warrant shall entitle the holder to acquire one non-flow through common share of the Company at a price of $0.16 per share for 15 months from closing, or earlier pursuant to the acceleration terms set out below.


The Company also announces a non-brokered private placement offering of up to up to 3,500,000 Units at a price of $0.10 per Unit for gross proceeds of up to $350,000. Each Unit shall be comprised of one non flow-through common share and one full Purchase Warrant. Each full Purchase Warrant shall entitle the holder to acquire one non-flow through common share of the Company at a price of $0.14 per share for period of 12 months from the date of issuance, and at $0.18 for the ensuing 6 months thereafter, or earlier pursuant to the acceleration terms set out below.


The proceeds shall be allocated to the Company's Canadian projects, namely, activities associated with re-commissioning the Tartan Lake Gold Mine, as well as a follow up drill program at the Amisk Lake Gold property near Flin Flon, Manitoba.
The Offering will be made to residents of any Canadian Province in reliance upon applicable exemptions from registration and prospectus requirements. The closing of the private placement is subject to the receipt of all required regulatory approvals, including the approval of the TSX Venture Exchange. All securities issued pursuant to the offering shall be subject to a hold period of four months from the date of closing.
A finders fee equal to 7% of the gross proceeds raised, in addition to the issuance of a number of Compensation Warrants equal to 7% of the number of Units issued, shall be paid to qualifying arms length finders. Each Compensation-Warrant shall entitle the finder to acquire one non-flow through common share of the Company at a price of $0.10 for a period of 12 months. If on any 20 consecutive trading days after the issuance of the Purchase Warrants, the closing sales price (or closing bid price on the days when there are no trades) of the common shares of St. Eugene on the TSX Venture Exchange is greater than $0.25, the expiry date of the Purchase Warrants shall accelerate and be automatically amended to be the 30^th day after the date on which the Company gives notice to the Warrant holder of such acceleration.

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

For more information, please contact
St. Eugene Mining Corporation Ltd.
Jennifer L. Boyle, B.A., LL.B.
Chief Executive Officer
647-430-0966 (work) or 416-904-2714 (cell)
jennifer@capexgroupinc.com
or
St. Eugene Mining Corporation Ltd.
Kevin Weston
President
604-365-4477 (cell)
kevin.weston1@gmail.com

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Olympus' (TSX:OYM)(OTCBB:OLYMF) Stake of the Bau Gold Field to Increase to 93.55%

TORONTO, ONTARIO--(http://www.investorideas.com/ gold and mining stocks blog )  - Sept. 28, 2010 - Olympus Pacific Minerals Inc. ("Olympus" or the "Company") (TSX:OYM)(OTCBB:OLYMF)(ASX:OYM)(FRANKFURT:OP6). The Chairman and Chief Executive Officer David Seton is pleased to announce the Company has reached an agreement to move to 93.5% control of the Bau Gold Project, Sarawak, Malaysia purchasing an additional 43.5% of the Joint Venture Company, North Borneo Gold Sdn Bhd.


BACKGROUND
The Bau Gold Project (800 sq. km) was acquired by Olympus in late 2009 (see Olympus press release dated November 10, 2009).
The Bau Gold Property has been independently assessed as having NI 43-101 gold resources of: 0.56M oz measured + indicated and 1.89M oz inferred (See Olympus Press Release, dated June 23, 2010 ). This resource includes several different mineralization styles, in multiple deposits that have to date been drilled only to shallow depth and remain open to further expansion through continuing exploration.
Recent reprocessing of airborne DIGHEM geophysical data within a central area of the goldfield has shown several exceptionally strong conductivity anomalies at depth. These are interpreted as the expression of large, mineralized quartz vein systems extending down to more than 700m below surface. Exploration of these compelling targets commenced in early September with an initial contract for 3,000 metres of HQ diamond drilling. The 12 month program is for 7,000m of drilling in approximately 45 holes, . to explore mineralization within a deeper volcanic terrain that underlies the predominantly sedimentary surface formations.
See hyperlink - Targeted Taiton A conductivity anomaly
http://olympuspacific.com/pdf/presentations/taiton_a_anomaly.pdf
As part of a mining feasibility study, an additional drilling program will also be conducted to upgrade the bulk of the existing resource to Measured and Indicated categories and to test deeper and lateral resource extensions.
OWNERSHIP HIGHLIGHTS

• Competitive acquisition price for additional ownership of Bau
• Sarawak Mining Ordinance has zero royalty rate on gold
• The Company has Pioneer status with low taxation entitlement for the first five years of production (5%)
• Exploration upside; multiple large-scale mineralization zones under advanced exploration
• Bau Project now in full feasibility

AGREEMENT
The principal terms of the agreement, whereby Olympus is to pay a total consideration of USD 35 million to acquire a further 43.5% interest in the operating Joint Venture Company, North Borneo Gold Sdn Bhd ("NBG"), from its local Joint Venture partners over a two-year period, are as follows:

• Tranche 1: USD7,500,000 to be paid by 30 September 2010 to acquire 12.5% of the ordinary shares and preference shares in NGB;
• Tranche 2: USD7,500,000 to be paid by 30 October 2010 to acquire a further 12.5% of the ordinary shares and preference shares in NBG;
• Tranche 3: USD11,000,000 to be paid by 30 November 2011 to acquire a further 10% of the ordinary shares and preference shares in NBG;
• Tranche 4: USD 9,000,000 to be paid by 30 September 2012 to acquire a further 8.5% of the ordinary shares and preference shares in NBG.

The $7.5M payment of the first tranche will be funded directly from Olympus' treasury, and the majority of the balance can be funded through internally generated cash flow from current operations. Payment scheduling outlined in the terms of agreement allows the Company to purchase the additional interest in the Joint Venture Company with minimal dilution to shareholders. Upon completion of the transaction, Olympus will hold 93.55% of NBG.
The local partners shall remain active participants in the exploration and all facets of the project's development.
The 93.55% majority stake in the Bau Gold Project allows Olympus to confidently move forward with completion of feasibility through to production. The Company will continue with an aggressive drilling program on the large new targets knowing it controls most of the upside in the project. The previous arrangement had been a drawback to committing capital when Olympus was funding 100% for 51% of the returns.
Chairman David Seton believes the addition of 1.06m oz at $33 per oz is a major value add to the company and the control of a developing goldfield in a region with zero gold royalty rates, and low taxes will continue to add significant value in the years ahead.
Olympus is positioned to expand gold production in Southeast Asia from its core properties and has established a production time line that increases the Company's annualized production to 80,000 ounces gold by early 2011 and a production pipeline capable of further expansion to some 300,000 oz by 2014. The diversified gold production Company expects to further expand its Reserve and Resource Estimates in East Malaysia and Vietnam through continued exploration in 2010.
OLYMPUS PACIFIC MINERALS INC.
David A. Seton, Chairman and Chief Executive Officer
The material in this announcement has been prepared under the supervision of Rod Murfitt, who is a member of the Australasian Institute of Mining and Metallurgy (AusIMM) and a Competent Person, as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserve" (the JORC Code) and Canadian Instrument 43-101. Mr Murfitt consents to the inclusion in this report of the Information, in the form and context in which it appears.

OLYMPUS FOFI DISCLAIMER

Certain of the statements made and information contained herein is "Forward-looking information" within the meaning of the Ontario Securities Act, including statements concerning our plans at our Vietnamese mineral projects, which involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information is the subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, failure to establish estimated resources or to convert resources to mineable reserves; the grade and recovery of ore which is mined varying from estimates; capital and operating costs varying significantly from estimates; delays in obtaining or failure to obtain required governmental, environmental, or other project approvals; changes in national and local government legislation or regulations regarding environmental factors, royalties, taxation or foreign investment; political or economic instability; terrorism; inflation; changes in currency exchange rates; fluctuations in commodity prices; delays in the development of projects; shortage of personnel with the requisite knowledge and skills to design and execute exploration and development programs; difficulties in arranging contracts for drilling and other exploration and development services; dependency on equity market financings to fund programs and maintain and develop mineral properties; risks associated with title to resource properties due to the difficulties of determining the validity of certain claims and other risks and uncertainties, including those described in each management discussion and analysis. In addition, forward- looking information is based on various assumptions including, without limitation, the expectations and beliefs of management; the assumed long-term price of gold; the availability of permits and surface rights; access to financing, equipment and labour and that the political environment within Vietnam will continue to support the development of environmentally safe mining projects. 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 forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking information.

For more information, please contact
Olympus Pacific Minerals Inc.
James W. Hamilton
Vice-President Investor Relations
(416) 572-2525 or TF: 1-888-902-5522
(416) 572-4202 (FAX)
info@olympuspacific.com
www.olympuspacific.com

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Lake Victoria (OTCBB:LVCA) Intersects Suspected Visible Gold in Three Target Areas, at the Singida-Londoni Gold Project, Tanzania

GOLDEN, COLORADO--(http://www.investorideas.com/ gold and mining stocks blog ) - Sept. 28, 2010 - Lake Victoria (OTCBB:LVCA) is pleased to provide a further update on the Reverse Circulation (RC) drilling program at the Singida-Londoni gold project in Tanzania. To date, drilling has successfully intersected possible visible gold and the metallic minerals pyrite and arsenopyrite. These metallic sulfide minerals are often associated with gold and gold deposits and were present in three target areas, Sambaru 3, 4 and 5. Assay results are expected shortly of the first consignment of 820 drill samples sent to SGS Laboratory, Mwanza, which will determine the level of gold present.


Drilling at Sambaru 5, a site of abundant artisanal surface workings located near the northwest end of the license area, was successfully completed. A total of six holes were drilled on two sections spaced 80 meters apart. Four narrow, but apparently continuous zones of sulfide mineralization, previously reported in the news release of the 20th September 2010, appear to be present.
The drill rig, recently completed three boreholes to test the area immediately north of the main artisanal mines in the central part of the Sambaru 4 target. Two zones of increased sulfide minerals were intersected at down hole distances of about 19 meters and 70 meters. The zones have a length of about 10 and 23 meters respectively. The upper zone is believed to represent a new mineralized zone. The lower zone, previously intersected in an adjacent hole, is believed to represent the main zone that the artisanal miners worked at a more shallow depth. Drilling indicates the lower zone now extends to at least 70 meters below the surface. Occasional grains of possible gold are present in panned drill hole samples from the upper zone; with more abundant possible gold grains appear to be present in panned samples from the deeper zone. The drill is currently testing a 120 meter long zone of artisanal mining in the southeastern part of Sambaru 4; following this drilling, the drill moves to the Sambaru 2 target near the central part of the five kilometer long license area.
Roger Newell said: " These preliminary drill results are very encouraging and the presence of the metallic sulfide minerals of pyrite and arsenopyrite, which are often associated with gold, underscores the importance of what appears to be visible gold in our drill samples. We look forward to providing drill hole assay results in the near future."
About the Company
Lake Victoria Mining Company, Inc. is working to create another gold mine in the world famous Lake Victoria Greenstone Belt, Tanzania, East Africa. Tanzania is Africa's third largest gold producer, behind South Africa and Ghana, but also has reserves of uranium, nickel and coal. Gold exports alone earned it $1.076 billion in 2009, up from $932.4 million the previous year. Lake Victoria holds eleven prospective gold projects and five uranium projects within its Tanzania property portfolio. Additional information regarding the Company is available on the corporate website at: http://www.lakevictoriaminingcompany.com/ or by contacting:
Disclaimer
This news release may contain forward looking statements, relating to the Company's operations or the environment in which it operates, which are based on Lake Victoria Mining Company, Inc.'s operations, estimates, forecasts and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict, and/or beyond Lake Victoria Mining Company, Inc.'s control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, readers should not place undue reliance on such forward-looking statements. Lake Victoria Mining Company, Inc. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

For more information, please contact
Lake Victoria Mining Company Inc.
Dr. Roger A. Newell
303-586-1390

info@lvcamining.com
www.lvcamining.com

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Mining News ; F.D.G. Mining Inc. Raises $1.3 Million on Oversubscribed Private Placement

VANCOUVER, BRITISH COLUMBIA--(http://www.investorideas.com/ gold and mining stocks blog ) - Sept. 28, 2010) - F.D.G. Mining Inc. ("FDG" or the "Company"), a private mineral exploration company based in Vancouver, Canada is pleased to announce the completion of a non-brokered private placement of 10,428,000 common shares at a price of $0.125 per share for gross proceeds of $1,303,500 (the "Private Placement") which was over-subscribed due to greater than anticipated investor interest in the Company and its projects. A finder's fee of $130,350 was paid in connection with the Private Placement resulting in net proceeds of $1,173,150 to be used for, inter alia, exploration activities on the Company's newly optioned Topacio Concession in Nicaragua and general corporate and working capital purposes in preparation for a planned initial public offering in Q4 2010. Currently, the Company has approximately 24 million shares issued and outstanding.

On April 30^th 2010, FDG concluded an option agreement with Inversiones Mineras S.A. ("IMISA") of Nicaragua to purchase the 9300 hectare Topacio, S.A. gold concession in Eastern Nicaragua. The definitive agreement calls for bi-annual payments of US$60,000 until such time as the Company pays the full US$3,000,000 purchase price within the 3-year term of the agreement. Upon completion, FDG will own 100% of the mining concession subject to a 3% NSR to IMISA and its affiliated companies. The concession covers all of the known past-producing veins in a low sulphidation epithermal gold district and surrounding exploration targets that have been identified by previous work on the property. An NI 43-101 Technical Report was commissioned by FDG and has now been completed and posted on the Company's web site at www.fdgmining.com. The report compiles much of the previous work and data on the property including drilling, trenching and historic resource estimates up until 1996 when a previous operator completed approximately US$3,000,000 of exploration over a 2-year period.
FDG has completed and submitted an Environmental Impact Study (EIS) at Topacio and is expecting approval from Nicaraguan authorities by the middle of October to begin working on the property.
A Land Use Permit from the local municipality was required to complete the EIS and FDG personnel took the opportunity to meet the local mayor (Alcalde) and councilors to obtain the document and to make a presentation introducing the company, the project and outlining work plans and schedules. The Company is very pleased to announce that it signed an accord on the same day ("Convenio de Colaboración") with the Alcaldía Muelle de los Bueyes pledging cooperation and sharing of resources to improve roads and infrastructure in the area. FDG has agreed to share all new surveys and relevant company information within the property area and re-iterated its intention to work in an environmentally responsible manner while exploring and developing the property. The Alcaldia has pledged in return to cooperate with FDG and share municipal resources and equipment to improve access to the property and to facilitate good relations with local land owners. A copy of the Convenio in Spanish is available on the FDG web site. In a ceremony at the Mayor's office on July 7 2010, FDG signed the Convenio de Colaboración and donated US$10,000 to the municipality to be used for community projects in the area.
FDG also has property interests in five other gold prospects in Nicaragua, two of which are adjacent to B2Gold's Orosi Mine property.
On behalf of the Board of F.D.G. Mining Inc.,
Mit Tilkov, President & CEO
This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation.

For more information, please contact
F.D.G. Mining Inc.
Mit Tilkov
President & CEO
604-684-2213
info@fdgmining.com
www.fdgmining.com

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Mining Stocks News; St. Elias Mines Ltd. -- Strawberry Flats Gold Project, B.C.

VANCOUVER, BC--(http://www.investorideas.com/ mining and gold stocks blog )  - September 28, 2010) -  Lori McClenahan, President of St. Elias Mines Ltd. (TSX-V: SLI) (FRANKFURT: EKL) (US Clearing Symbol: SELSF) ("St. Elias"), is pleased to announce the following update received from Dorex Minerals Inc. ("Dorex") with respect to the Strawberry Flats Gold Project (the "Property") located in southern British Columbia approximately 20 kilometers northwest of the historic Rossland Mining Camp. Dorex has options to acquire up to an 80% interest, subject to a 1.5% NSR, in the Property from St. Elias.

Dorex has completed the Phase I rock, silt and soil geochemical sampling program on the Property. Over 1,200 soil samples, 28 rock samples and eight (8) silt samples were collected by Dorex employees and contractors during the 10 day, on-the-ground program in late summer 2010. The Phase I exploration program was designed to confirm, infill and expand the historic gold-in-soil geochemical anomalies reported by previous workers as well as to ground truth the surface and underground workings on the Strawberry Flats Gold Property.

The bulk of the Phase I program consisted of a large geochemical grid covering an area of approximately 1.8 km by 1 km with 50 m spaced lines sampled on 25 m to 50 m centres. This grid was focused on expanding the historic geochemical grids to the north towards Astral Mining Corp's contiguous Jumping Josephine Project. In addition, one detailed geochemical grid was established near the known anomalies on the Strawberry Flats Gold Project during this program. This detailed grid covered an area of approximately 120 m by 140 m with 20 m spaced lines and sampled on 10 m centres.

All collected samples were shipped to ACME Analytical Laboratories in Vancouver, B.C. where they were sent for analysis by Group 1EX ICP-MS for 41 elements and a 30 gram Fire Assay Finish (Group 3B01) on all samples.

Assay results are expected to be received shortly, and once compiled, these results will be used to define and prioritize targets for a Phase II follow-up mechanized trenching program planned for later this fall. Phase II will also concentrate on additional sampling from the historic anomalies as well as any newly generated geochemical anomalies from the Phase I program.

Dorex's 2010 exploration programs are primarily designed towards delineation of future drill targets for a Phase III diamond drilling program by confirming and expanding on the historical work from the Property including a trenching program completed by Cameco in 1989-1990.

The 1989-1990 programs were conducted to follow up on a potential bedrock source of gold-in-soil anomalies within the Strawberry Flats Gold Project. Cameco's "Trench No. 5" averaged 7.04 g/t Au (from continuous one-metre-long chip samples) over its 12 metre length and exposed a 7 metre wide fault zone with heavily silicified and pyrite chalcopyrite-galena-sphalerite-iron carbonate veined sections, with the a single 2 metre section reported to average 39.16 g/t Au and 6.55 g/t Ag.

Cameco's report indicated that the seven-metre-wide, west-northwest-trending mineralized structure exposed in Trench No. 5 is of sufficient grade to warrant follow-up along strike in both directions and at depth.

The Strawberry Flats Gold Project adjoins the Jumping Josephine gold project owned by Astral Mining Corp. and Kootenay Gold Inc. Drilling results from Astral on the Jumping Josephine main zone have included 10 metres of 9.95 g/t Au and 8 metres of 8.31 g/t gold.

Technical details contained in this news release have been reviewed by Paul D. Gray, P.Geo., Company Director and a qualified person as defined in National Instrument 43-101.

For additional information on St. Elias and its projects, please visit us at www.steliasmines.com or call 1-888-895-5522 (toll free US and Canada) or contact:

ST. ELIAS MINES LTD.

(signed "Lori McClenahan")

Lori McClenahan,
President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this document.

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, 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 statement.

European Investor Relations
Nicholas Fuller
Nick Fuller & Associates
Tel: 011-44-207-256-5204
Email: nick@fullerir.com

U.S. Investor Relations
Herbert Haft
The Haft Group, Inc.
Tel: (212) 759-8865
Email: herbhaft@haftgroupinc.com
herbhaft@aol.com

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Klondike Gold Corp (TSX VENTURE:KG) Follow Up Drill Program on Clubine Gold-Silver Property

- Completed 5 Drill Holes for A Total of 600m to Follow Up 19.44 g/t Gold Over 3.45 Meters (0.63 Opt Gold/11.3 Feet) on Clubine Property. Results Are Pending.
- Drilling was Successful in Demonstrating Down-Dip and Strike Extensions of the Mineralized Structure Drilled in Fall 2009.

VANCOUVER, BRITISH COLUMBIA--(http://www.investorideas.com/ gold and mining stocks blog  - Sept. 28, 2010) - Klondike Gold Corp. (TSX VENTURE:KG) (the "Company") drilled five holes, totaling 600 meters, on the Clubine gold-base metal deposit in the Salmo area of southeastern B.C.
The fall 2009 drill program indicated the presence of "Bonanza grade" 148.41 g/t gold (4.8 ounces of gold / tonne) and 203 g/t Ag across 0.2 m within a wider zone of 19.44 g/t gold over 3.45 m ( 0.63opt / 11.3 feet). Six of the nine holes drilled in 2009 successfully intersected the target gold/silver/ copper zone, proving that the zone is continuous along strike and to depth.
The mineralization at Clubine is hosted in a shear zone containing lenses of quartz and quartz-carbonate, and gold-silver-base metal veins. It is small past producer that recovered 123,293 of gold and 239,463 grams of silver from 3676 tonnes mined in the late 1930s. Exploration work at that time consisted of several exploration and production drifts that followed the shear-vein structure, from surface, through strike lengths of up to approximately 90 meters
The Clubine project is in a district with several important past producing camps: the Rossland gold-copper camp, which produced 2.76 million ounces of gold, is located 40 kilometers to the west, the Ymir silver camp is 8 km to the northeast, the Sheep Creek gold camp, 15 km to the east and the Silver King camp, 20 km to the north (refer to the Nelson Mining Camp map for the locations of these camps). http://klondikegoldcorp.com/i/pdf/GSC_Nelson_Past_Producers.pdf
The follow-up to the 2009 fall drill program, initially consisting of 5 holes totaling 600 meters, was intended to extend both the strike, down dip extension and continuity of the veins intersected in the fall. The company is waiting for the complete logs and assays of the drill holes. Results of drill logs and chemical analyses are pending.
Drill holes were targeted to intersect the northern extension of the known gold-bearing structure, and also to intersect the down dip extension of the main gold-bearing veins discovered in fall 2009 drilling (CB09-1,2,3). Both the lode structure and several thin mineralized quartz veins were intersected in the recent drilling - results pending. Based on the encouraging results from this program, step out drilling to the north is warranted. As well, drilling down dip, below the levels of known mineralization, is also recommended in an attempt to define controlling down plunge rakes of the mineralization (ore shoots within the structure).
The qualified person for the purpose of National Instrument 43-101 is Dr. Trygve Hoy, P.Eng., who has read and agreed with the technical information in this news release.
About Klondike Gold Corp
Klondike Gold is a large landholder in southeastern British Columbia as well as in the Klondike District of Yukon Territory, an area which produced between six and twelve million ounces of gold during its historic gold rush. The Company also holds a 50% interest with partner Chalice Diamond Corp in approximately 78,000 acres of diamond properties located in the Chapleau-Wawa region of Ontario and a number of properties in southeastern British Columbia.
Please visit the Company's website: www.klondikegoldcorp.com for more information on the diamond properties in Ontario, our holdings in the Klondike and our properties in southeastern BC.
The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.

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

For more information, please contact
Hughes Exploration Group
Alan Campbell or Kevin Hull
Investor Relations
(604) 685-2222
info@klondikegoldcorp.com

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