Mining Stocks News; Stronghold (TSX VENTURE:Z) Announces Strategic Transaction With IAMGOLD on Eagle Mountain Gold Property in Guyana

VANCOUVER, BRITISH COLUMBIA--(http://www.investorideas.com/ mining and gold stocks blog  - Sept. 30, 2010) - STRONGHOLD METALS INC. ("Stronghold" or the "Company") (TSX VENTURE:Z) Stronghold is pleased to announce that it has entered into a definitive Earn-In and Joint Venture Agreement (the "Agreement") dated September 29, 2010 with a subsidiary of IAMGOLD Corporation ("IAMGOLD"), under which the Company has been granted the right to acquire in stages up to 50% in the Eagle Mountain Gold Property, located in Guyana, South America through the completion of exploration work on the property. Additionally, the Company has the option to acquire the remaining 50% of the property from IAMGOLD under certain instances.


The Eagle Mountain property is owned by Omai Gold Mines Ltd. ("OGML"), a 95% owned subsidiary of IAMGOLD with the Republic of Guyana ("Guyana") holding the remaining 5%. As part of the transaction, the parties will set up a single purpose entity to hold the Eagle Mountain Gold Property, subject to the approval of Guyanese governmental authorities.


The Eagle Mountain Gold Project ("Eagle Mountain" or the "Property") is an advanced stage exploration project on track to produce a preliminary economic assessment report or scoping study.
In October 2009, an internal technical report by IAMGOLD produced an in-house estimate of total Inferred Mineral Resources of 22.1Mt @ 1.11 g/t, containing 787,800 ounces of gold (using a 0.3 g/t Au cut-off grade), or 18Mt @ 1.27 g/t, containing 733,500 ounces of gold (using a 0.5 g/t Au cut-off grade). More than 250,000 ounces of contained Au in this inferred mineral resource is hosted by oxide material (saprolite).
Based on the review of IAMGOLD's internal technical report, Stronghold treats the resource as a "Current" resource under NI43-101 disclosure requirements, and intends to immediately commission an independent NI43-101 compliant technical report and file same within 45 days. Should there be any changes to the defined resource, Stronghold will file updated disclosure as required.
The following table summarizes the reported Mineral Resource Estimate from the in-house IAMGOLD technical report.

				INFERRED
	Cut-off	Volume	Density	Tonnage	AU-cap
AU-CAP	g/t	(000's m3)	(t/m3)	(000's t)	g/t	oz
Saprolite	0.3	5,137	1.60	8,219	1.11	294,100
	0.5	3,905	1.60	6,248	1.34	268,300
	0.7	3,038	1.60	4,861	1.55	242,200
	1.0	2,134	1.60	3,415	1.85	203,000
Fresh Rock	0.3	5,141	2.70	13,881	1.11	493,600
	0.5	4,337	2.70	11,711	1.24	465,100
	0.7	3,114	2.70	8,409	1.49	402,600
	1.0	2,260	2.70	6,102	1.74	340,900
	0.3	10,278	2.18	22,100	1.11	787,800
Total	0.5	8,242	2.21	17,959	1.27	733,500
	0.7	6,153	2.18	13,270	1.51	644,800
	1.0	4,394	2.19	9,517	1.78	543,900

Eagle Mountain covers an area of approximately 5050 Ha (12,480 acres) in central Guyana, 200km southwest of the capital Georgetown and 45 kilometres from the historic Omai Gold Mine, which was in production from 1993 to 2005.
Access to the property is gained by road from Georgetown in five to six hours and by air in forty-five minutes, landing at the Mahdia airstrip four kilometers to the north of the property. Alluvial gold has been exploited in the area of Eagle Mountain since 1884.
Total exploration expenditures to date on Eagle Mountain are approximately US$ 6.58 million. The Eagle Mountain area occurs within Palaeoproterozoic greenstones of the Guiana Shield. A composite granodiorite pluton intrudes the greenstone volcanic rocks and hosts most of the known gold mineralisation on the Property. Gold mineralisation starts from near surface as disseminated and fracture controlled mineralisation in granite forming multiple gently dipping zones.
At least 6 mineralised zones have been recognised to date, but only 3 zones have been tested in any detail. Drilling, surface auger sampling, channel sampling of trenches and historical adits helped identify the various mineralised zones, yet only diamond drill data was used in the calculation of the inferred mineral resource by IAMGOLD.
The reported resource covers an area of 1.5 km x 2 km (300 hectares) inside a property 5,050 hectares in size, thus there exists tremendous upside potential for new discoveries and resource expansion.
Commercial Agreement Terms
Stronghold may earn increasing interests in the Property based on a combination of cash payments, share issuances and work expenditures more particularly described below:

Significant Milestone Date	Minimum Exploration Expenditure	Cash Payments to OGML	Issuing of Stronghold Common Shares to OGML	Vesting Interest for Stronghold	Nature of Commitment
On Transaction Closing	$400,000	$250,000	2,000,000 shares	25%	Firm
December 2010		$250,000
October 2011	$1,100,000	$1,000,000	2,000,000 shares
SUBTOTAL till Oct 2011	$1,500,000	$1,500,000	4,000,000 shares
October 2012	$2,000,000	$1,000,000	2,000,000 shares	50%	Optional
SUBTOTAL till Oct 2012	$3,500,000	$2,500,000	6,000,000 shares
Within 6 Months from Oct 2012		$1,000,000		100%
On Granting of a Mining License		$7,500,000
GRAND TOTAL	$3,500,000	$11 million	6,000,000 shares	100%

Table 1: Summary of earn-in and JV terms (all money figures in US$ Dollars).

Stronghold has a firm commitment to pay US $250,000, issue 2,000,000 common shares in the capital of Stronghold to OGML and incur exploration expenditures ("Expenditures") of not less than US$400,000 on the Eagle Mountain Gold Property by December 31, 2010.
Furthermore Stronghold has agreed to pay OGML US$250,000 on the earlier of: (i) December 1, 2010; and (ii) 5 days from the date on which Guyana grants OGML an extension notice (the "Extension Notice") for the concessions that cover the Property for the period October 2010 to October 2011.
Provided the Extension Notice has been granted, Stronghold shall fund an additional US $1,100,000 of Expenditures (firm commitment), issue an additional 2,000,000 common shares and pay an additional US$1,000,000 to OGML by October 31, 2011.
Once Stronghold has satisfied the above requirements and therefore has funded an aggregate of US$1,500,000 of Expenditures, issued an aggregate of 4,000,000 common shares and paid US$1,500,000 to OGML it will have earned a 25% equity interest in the Property.
Stronghold then has the option to fund an additional US$2,000,000 (for a total of US$3,500,000) in Expenditures, issue an additional 2,000,000 common shares (for a total of 6,000,000 common shares) and pay an additional US$1,000,000 (for a total of US$2,500,000) to OGML (or as OGML may direct), all by October 31, 2012 to earn a 50% equity interest in the Property.
After earning a 50% interest in the Property, Stronghold has the right to acquire the remaining 50% interest within six months by paying OGML an additional US$1,000,000. OGML has 90 days from the date Stronghold earns a 50% interest to require Stronghold to acquire the remaining 50% interest in the Property for a payment of US$1,000,000.
Provided that Stronghold becomes the registered and beneficial owner of at least a 50% interest in the Property, upon the grant by Guyana of a mining or exploitation licence in relation to the Eagle Mountain, Stronghold will pay OGML an additional US$7,500,000.
Assuming all expenditures and milestones are made, IAMGOLD will become a significant shareholder of Stronghold.
Yannis Tsitos, President and CEO of Stronghold stated: "This transaction is the most significant milestone in Stronghold's history to date. Our stated corporate goal is to grow the Company through a combination of development of our high quality exploration properties in South America and the acquisition of advanced stage projects.
The Eagle Mountain Gold Property represents a rare opportunity to rapidly move an already advanced project to a feasibility study stage and therefore deliver tangible value to our shareholders. We will effectively build upon the strong foundation established by IAMGOLD in Guyana and intensify the exploration work program to expand and advance the current resource estimate and to establish whether the Eagle Mountain Gold Property can sustain a profitable independent mining operation. Based on our due diligence investigations and our internal analysis of data, we believe there is significant blue sky potential beyond the currently identified gold resource. Having IAMGOLD ultimately as a significant shareholder will be of tremendous benefit to the Company and Stronghold's management feels privileged to work with their team in this joint venture. In Stronghold, we hold an overarching desire to be part of a development, which will not only be valuable to the Company's shareholders, but can also make an important contribution to the development of Guyana and the wellbeing of the Guyanese people."
Paul Olmsted, Senior Vice President, Corporate Development, IAMGOLD Corporation, stated: "We are pleased to enter into a transaction with Stronghold as we believe their experience will provide significant benefits to both the Eagle Mountain project and the region. We look forward to working with the Company to move the project forward."
The Company will pay a finder's fee of up to 1.5 million shares in stages over the term of the Agreement, with the first tranche to consist of 500,000 common shares on receipt of TSX Venture Exchange acceptance.
The Agreement and the finder's fee are subject to the acceptance of the TSX Venture Exchange.
Stronghold Metals Inc. has not independently verified the technical data on the Eagle Mountain Gold Property. However, Stronghold believes the current resource provide an indication of the potential that exists on the property. Mike Byron, Vice President, Exploration for Stronghold, a Qualified Person under NI 43-101, has reviewed and approved the data disclosed in this news release.

On behalf of The Board of Directors of Stronghold Metals Inc.

Ioannis (Yannis) Tsitos, President, CEO & Director

This document contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the corporations control which may cause actual results, performance or achievements of the corporation's to be materially different from the results, performance or expectation implied by these forward looking statements.

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

For more information, please contact
Stronghold Metals Inc.
Ioannis (Yannis) Tsitos
President, CEO & Director
+1 604.806.0916
+1 604.806.0956 (FAX)
www.strongholdmetals.com

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(TSX VENTURE:FMM)  News; Full Metal Identifies Multiple New Gold Anomalies, Extending White Gold District Trend from Yukon into Alaska

VANCOUVER, BRITISH COLUMBIA--(http://www.investorideas.com/ gold and mining stocks blog )  - Sept. 30, 2010) - Full Metal Minerals Ltd. (TSX VENTURE:FMM) is pleased to announce that the Company has received encouraging surface sampling results from multiple gold targets at the Rolling Thunder Project. Full Metal has expanded the land package to 589 km², covering 16 different target areas, and initiated a follow-up sampling and mapping program.


Full Metal's management and geologic team were shared with Underworld Resources, which made a significant discovery at the White Gold Project in the Yukon. Underworld was acquired by Kinross Gold in the spring of 2010. The technical team utilized this experience and understanding of geologic controls, geochemistry and exploration targeting methods which was successful at White Gold to stake these new claims. During the 2010 season, 428 rock and 1,536 soil samples have been collected to-date, as well as some initial mechanical trenching. Many assays are still pending.
Highlights of the recent exploration include the identification of extensive anomalous gold mineralization in soil samples from the Pika Property. Two separate 100 to 250 meter wide, northeastern trending gold in soil anomalies (>50 ppb Au) have been identified. Individual soil values range from trace to 1090 ppb Au, averaging 108 ppb Au. Strong silver values were also returned. The anomalies are 700 meters and 1,000 meters long separately, with the mineralizing system open for expansion to the north and east. Widespread silicification and high-potassium clay alteration suggest a high-sulphidation Au-Ag epithermal system at Pika. Sampling crews are currently expanding the soil grid at the property. Mineralization at Pika is strongly oxidized due to weathering, with local massive barite and gossan veins identified. Two subcrop samples of gossan assayed 0.30 g/t Au with 4,730 g/t Ag and 0.955 Au with 788 g/t Ag respectively.
A single reconnaissance line was completed a the McElfish prospect, where a single reconnaissance 'ridge and spur' soil line returned several anomalous samples, including an individual sampled that returned 7.16 g/t Au in soil. Follow-up mapping and sampling identified strongly silicified and gossanous altered rocks, with additional assays currently pending.
Reconnaissance work at the Willow property has identified a gold and silver bearing, silicified marble unit hosting gold and silver mineralization. Seven grab and chip samples that assayed over 1.0 g/t Au averaged 1.8 g/t Au and 28.0 g/t Ag, with samples up to 3.3 g/t Au and 98 g/t Ag. The majority of these samples, out of 118 rock occur within a 250 by 100 meter silicified and decalcified area of marble. Silicified marble units have been trace for over 3,000 meters. The target area is surrounded on all sides by active placer gold mines, and represents a sediment-hosted gold target.
Previously reported results (See FMM 2010 NR#10, June 29^th 2010) include: the 20X prospect, grab samples from oxidized quartz veins returned 5.5 and 4.0 g/t Au, with anomalous molybdenum and other pathfinder elements similar to the White Gold Property. At the Tweeden prospect, a grab sample from a one meter wide quartz vein trending onto Full Metal claims returned 52.2 g/t Au. Secondary structures splaying off of main structure assayed 1-2 g/t Au on these sheeted structures.


The White Gold district in Alaska occurs within a mineral belt of Cretaceous age deposits, prospects, and placer gold mines trending from the Minto mine in the southwest, and includes porphyry copper and epigenetic gold deposits and prospects such as Freegold Mountain (Northern Freegold), Casino (Western Copper), White Gold (Kinross) and Coffee (Kaminak). This mineral belt strikes to the northeast from the Yukon into Alaska, and includes Full Metal's Rolling Thunder claims, the Fortymile placer district, and Full Metal's high-grade Zn-Ag-Pb-Cu carbonate replacement deposits (see News Release FMM 2010 – NR #5, June 3^rd 2010). Over 30 companies are actively exploring along this trend in the Yukon, with an ongoing staking rush up to the Yukon-Alaska border. Full Metal Minerals is the only company that has been actively exploring the Alaska section of this belt during 2010.


Placer gold mining has been ongoing in the Fortymile district since the late 1800's, with over 550,000 ounces of placer gold produced (from Szumigala et al, Alaska DGGS Report 2000). The area is underlain by the same host rocks, a similar tectonic history and intrusive rocks to the White Gold District.
Full Metal and BHP completed an extensive reconnaissance program in the southern portion of the target area during 2008, exploring four porphyry targets. In 2009, Full Metal regained a 100% ownership of this program, after BHP completed extensive geochemical surveys and a large airborne magnetic survey. In addition to a proprietary geochemical data set owned by Full Metal from historic operators, the Company utilized this data in targeting several of the new claim groups.
Full Metal's 2010 exploration program at Rolling Thunder is managed by Robert McLeod, P.Geo, Vice-President Exploration for Full Metal Minerals and a Qualified Persons as defined by NI 43-101. Rock and soil samples have been collected by experienced geologists, placed in sealed bags and delivered by Company employees to ALS-Chemex Labs facility in Fairbanks, Alaska. A sample quality control/quality assurance program using standards and blanks has been implemented. Mr. McLeod prepared and approved the information contained in this release.
Full Metal is a generative exploration company with multiple precious and base metal projects in Alaska and the Yukon. Additional results will be announced shortly from three drilling programs completed during 2010, including 100%-owned Fortymile zinc-silver-lead Property, the Grizzly Butte and Pyramid copper-gold-molybdenum porphyry Properties.
ON BEHALF OF THE BOARD OF DIRECTORS
Michael Williams, President and Director

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

For more information, please contact
Full Metal Minerals Ltd.
Jeff Sundar
Manager, Investor Relations
604-484-7855
604-484-7155 (FAX)
info@fullmetalminerals.com
www.fullmetalminerals.com

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Threegold (TSX VENTURE:THG) Reorganizes its Management and Closes Second Private Placement

VAL-D'OR, QUEBEC, CANADA--(http://www.investorideas.com/ gold and mining stocks blog )  - Sept. 30, 2010) - Threegold Resources Inc. (TSX VENTURE:THG) is pleased to announce that it has proceeded with a reorganization of its management with the arrival of Mr. Victor Goncalves whom accepted to serve as the new president and CEO of the company. This new addition to the management will allow Mr. Antoine Fournier to focus on the exploration as vice-president and COO. The company also wishes to announce that it has completed the previously announced private placement by successfully raising $234,997.92.
Management reorganization
Mr. Victor Goncalves has accepted to join force with Threegold where he will assume the role of President and CEO of the company. He brings to the company a wealth of experience with the financial community having established himself as a respected analyst and newsletter writer. This change has allowed the creation of a new position as Vice-president Exploration and COO that Mr. Antoine Fournier will assume. Threegold has always been a field-oriented company with numerous active projects, the new Vice-president will now be able to overview the field activities and monitor the progress more efficiently.
Mr. Richard Tanguay, Chairman of the Board, comments the restructuring: "We spent considerable time over the summer putting together a strategy both at the corporate level and for field operations. After evaluating our current situation, we realized that we needed to strengthen our management and allow Antoine to commit more time to exploration. We strongly believe that Victor will greatly assist in giving our company the momentum and visibility that it deserves." Mr. Fournier adds: "We feel privileged to have Victor joining our team as we feel that he will be instrumental in energizing the company. We now have a more balanced management team where everyone will be able to contribute in their best capacities."
Mr. Goncalves holds a B.A in Economics and has nearly 10 years experience in the financial markets. His experience spans from consulting for the Harvard Management Fund to writing for multiple financial publications. He is a welcome part of the Threegold team.
Closing of Private Placement
According to the terms of the placement, the company successfully raised $234,997.92 by issuing 3,916,632 units at a price of $0.06 per unit. Each unit is be comprised of one (1) common share of the company and one share purchase warrant entitling the holder to purchase one additional common share of the company at a price of $0.10 for a period of one year following the closing The warrants include an acceleration clause to the effect that if at any time after four (4) months and one (1) day following the closing of the private placement the trading price of the common shares of Threegold on the TSX Venture Exchange is equal or exceeds $0.20 for 10 consecutive trading days, Threegold shall be entitled to notify the holders of warrants of its intention to force the exercise of the warrants. Upon receipt of such notice, the holders of warrants shall have 30 days to exercise the warrants, failing which the warrants will automatically expire. Management and insiders accounted for 698,333 units or $41,900 of the total placement.
In connection with the private placement, a 6% commission was paid on a portion of the financing for a total of $3,720 and no warrants were issued. All of the proceeds from this private placement will be used for general corporate purposes as well as for exploration work on the company's existing mining exploration properties located in the province of Quebec. The private placement is subject to regulatory approval.
In accordance with applicable securities legislation, the securities issued in connection with the private placement will be subject to a four‐month hold period following the closing of the offering.
The company issued a press release on September 21, 2010 in order to announce the closing of a private placement in the amount of $500,000. However, the acceleration clause contained in this news release was not disclosed properly and should have read exactly as the acceleration clause described above.
ABOUT THREEGOLD
Threegold Resources is a dynamic and active Quebec‐based junior explorer with a diversified property portfolio. Threegold is pursuing exploration on three main projects in Quebec: Lemieux Dome in the Gaspé Peninsula for copper, zinc, lead, silver and gold; Mercier in the Abitibi region where the company recently made a rare earth element discovery containing base and rare metals (see press release of February 2, 2010); and Adanac, a gold property located a few kilometres from downtown Rouyn‐Noranda.

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
Threegold Resources Inc.
Mr. Victor Goncalves
President and CEO
204-997-5517
819-825-7545 (FAX)
info@threegold.ca
or
Threegold Resources Inc.
Mr. Octavio Soares FCA
Chief Financial Officer
418-999-8811
418-652-8149 (FAX)
info@threegold.ca
www.threegold.ca
or
S.N.D.L. Financial Communication
Mr. Sylvain Laberge
Investor Relations
514-380-5610
slaberge@sdnlfinancial.com

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(TSX VENTURE:CZH) News; Crazy Horse Appoints AMEC Minproc as Taysan Study Managers

VANCOUVER, BRITISH COLUMBIA--(http://www.investorideas.com/ mining and gold stocks blog ) - Sept. 30, 2010) - Crazy Horse Resources Inc. (TSX VENTURE:CZH) (the "Company") is pleased to announce it has engaged AMEC Minproc Limited ("AMEC") to act as study managers and process plant consultants for the Company's Taysan copper-gold project Scoping Study (the "Taysan Study").
Under the terms of its engagement letter, AMEC has agreed to manage the Taysan Study and provide process plant scoping level designs, costings and implementation strategies over a six month period. The Taysan Study start date and the engagement of AMEC are conditional upon and commensurate with the completion of the Company's acquisition of a 100% interest in the Taysan copper-gold project in the Philippines, which is subject to the approval of the TSX Venture Exchange.
AMEC Minproc has a successful history in the development and provision of engineering services and project delivery of mineral processing facilities spanning 30 years. Its credentials include completion of more than 400 feasibility studies and over 240 major projects in 40 countries, playing an important role in some of the world's major resource provinces. The Taysan Study will be managed out of AMEC's Brisbane office supported by its global experience and high value engineering centres in Asia, including the Philippines.
The resource estimation for the Taysan Study will be provided by Mining Associates which is a specialist minerals and energy consultancy based in Brisbane, Australia. Mining Associate's Andrew Vigar is a technical advisor to Crazy Horse. The mining study will be provided by IMC Mining Solutions Pty Ltd also out of Brisbane. Both Mining Associates and IMC have extensive and recent Philippines experience.
For additional information concerning the Taysan Project, see the NI 43-101 compliant technical report filed under the Company's profile on SEDAR (www.sedar.com).


ON BEHALF OF THE BOARD
Darren Devine, President and CEO
This press release includes "forward-looking statements" including the engagement of AMEC, IMC Mining Solutions Pty Ltd and Mining Associates following the successful completion of the Acquisition of the Taysan project which is beyond the control of Crazy Horse Resources Inc. Statements regarding the completion of the Acquisition are subject to all of the risks and uncertainties normally incident with the raising of capital and completing corporate transactions including, but are not limited to, financing risks, inflation and costs of goods and services, property title issues and regulatory approvals. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Crazy Horse Resources Inc. does not assume the obligation to update any forward-looking statement, except as required by applicable law.

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



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Gold Stocks ; Manitou Gold  (TSX VENTURE:MTU) Samples 495 g/t Gold at Canamerica; Drilling at Sherridon to Resume

SUDBURY, ONTARIO--(http://www.investorideas.com/ gold and mining stocks blog )   - Sept. 30, 2010) - Manitou Gold Inc. (TSX VENTURE:MTU) today reports the receipt of grab sample results from historical gold occurrences located on the Canamerica Property, within the Upper Manitou Lake Area. The samples were collected during a recently completed first pass prospecting program on Canamerica claims situated along the northeastern projection of the Manitou Straits Deformation Zone. The claims cover a number of historical pits, shafts and occurrences which have received minimal prior exploration attention.
The Peak Lake occurrences are located 7 km northeast of the Big Master Mine, proximal to the northeast trending Manitou Straits Fault. This summer's prospecting program located and sampled a number of poorly documented shafts and pits. One vein that was sampled returned a number of high grade assay results ranging from trace to 495 g/t Au, with other samples returning 125 g/t Au and 88 g/t Au. Previous exploration reported in this area was limited to prospecting and widely spaced drilling. The showing is amenable to backhoe trenching and will be further evaluated during the fall exploration program.
A summary of grab samples from the Peak Lake are detailed in the following Table 1:

Table 1: Peak Lake Grab Samples
Sample #	Au g/t
H180454	495.0
H180432	125.5
H180430	88.1
H180431	47.1
H180444	22.7
H180443	17.2
H180456	14.5
H180455	1.6
Note: Grab samples are, by nature, selective and are unlikely to represent average grades on the property.

The Little Master Shaft is located 3.2 km northeast of the Big Master Mine and is also within the Manitou
Straits Deformation Zone. The history and details of the Little Master operation is unknown as records were not preserved by prior operators. This summer's field work located the shaft and estimated the depth of it to be greater than 20 metres. The shaft was sunk on a quartz vein system. Manitou Gold traced this vein system on surface for 50 metres until it continued under overburden. Assay samples returned values ranging from 2.6 g/t to 169 g/t Au with a number of highly anomalous samples (see Table 2 below). The Little Master gold bearing vein is located along the flanks of a 600 metre long Induced Polarization ("IP") chargeability anomaly. This prospective target will be evaluated during the upcoming fall exploration program.
A summary of grab sample assay results from the Little Master areas is included in the following table:

Table 2: Little Master Grab Samples
Sample #	Au g/t
H180386	168.5
H180385	33.1
H180381	28.0
H180379	21.8
H180389	10.5
H180382	9.3
H180384	7.5
H180388	7.0
H180380	6.9
H180387	6.5
H180383	4.7
H180390	4.0
H180392	3.4
H180391	2.6
Note: Grab samples are, by nature, selective and are unlikely to represent average grades on the property.

A map showing the location of both the Peak Lake and Little Master occurrences can be found at the Company's web site at the following link: www.manitougold.com/properties.html
The Company will be commencing the next phase of diamond drilling on the Sherridon and Kenwest Projects within approximately 10 days. Drilling will begin at the Sherridon Project, where the recently completed first phase 10 hole drill program (1,308 m) tested a number of IP anomalies and surface gold showings. Visible gold was identified in a number of narrow shear zones intersected in the drilling. Assay results ranged between trace and 25.3 g/t Au over narrow intervals. Drilling will then proceed to the Kenwest project to follow up on the a significant drill intersection of 15.4 g/t Au over 6.5 metres in hole KW-10-13.
Manitou Gold also announces that it has retained Doug Kerr of CACS International Inc. to provide corporate communications services to the Company. The contract is for an initial 3 month term at the rate of $2,000 per month, which may be extended on a month to month basis, and also includes the grant of incentive stock options to purchase up to 50,000 shares in the capital of the Company at the price of $0.42 per share. The grant of stock options is for a term of three years and is subject to the terms and conditions of the Company's stock option plan and the policies of the TSX Venture Exchange. The Company has also granted a further 50,000 stock options to purchase shares of the Company, at a price of $0.42 per share for a period of 3 years, to an employee of the Company.


About Manitou Gold
Manitou Gold Inc. is a well-funded gold exploration company focused with a dominant land position in the Gold Rock Mining Camp, located in the Kenora Mining District, in Northwestern Ontario. The Company's largest individual shareholder is Goldcorp Inc, who holds a 15% interest in the Company.


The Qualified Person responsible for the technical content of this news release is Todd Keast, P. Geo., Vice President, Exploration of Manitou Gold Inc. Mr. Keast has verified all of the technical data contained in this release.
The Company has implemented a quality control program to ensure best practice in sampling and analysis. Assayed samples are transported in security sealed bags for preparation and analysis at ALS Chemex facilities. ALS Chemex is an ISO 9001-2000 and ISO 17025 registered laboratory. A prepared sample is digested with aqua regia. The resulting solution is analyzed by inductively coupled plasma-atomic emission spectrometry.
Statements in this release that are forward-looking statements are subject to various risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of exploration results and estimates and that the resource potential will be achieved on exploration projects, currency fluctuations, dependence upon regulatory approvals, the uncertainty of obtaining additional financing and exploration risk. Readers should also refer to the specific factors disclosed under the heading "Risk Factors" in the Company's filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume any obligation to update any forward-looking statements, save and except as may be required by applicable securities laws.

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
Manitou Gold Inc.
Richard Murphy
President and CEO
(705) 222-8800
(705) 222-8801 (FAX)
info@manitougold.com
www.manitougold.com
or
CACS International Inc.
Doug Kerr
(604) 315-4400
dougkerr@shaw.ca

 

 

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(TSX VENTURE:SMY) Search Minerals Announces Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(http://www.investorideas.com/ gold and mining stocks blog  ) - Sept. 30, 2010) - Search Minerals Inc. ("SMY" or "the Company") (TSX VENTURE:SMY) announces that, subject to regulatory approval, it intends to proceed with a non-brokered private placement (the "Private Placement") to raise up to $1,000,000 by the issuance of 1,666,666 flow-through units (the "Units") at $0.60 per Unit. Each Unit will consist of one flow-through common share and one non-flow-through common share purchase warrant (the "Warrants"), with each Warrant entitling the holder to purchase an additional common share for a period of two years at a price of $1.00 for the first year from the date of closing and a price of $1.50 thereafter until the expiry date.

With respect to this Private Placement, the Company may pay a cash finders' fee equal to 5% of the gross proceeds raised from the sale of the Units. Additionally, certain finders may receive finders' warrants (the "Finders' Warrants") equal to 8% of the number of Units purchased by subscribers introduced to the Company by such finders, with such Finders' Warrants having the same terms as the Warrants.
The securities issued by the Company in connection with this Private Placement are subject to a four month hold period as prescribed by applicable Canadian securities laws.

The Company intends to use the proceeds from this Private Placement for general working capital purposes and for furthering the exploration of the Company's exploration properties.
About Search Minerals Inc.
Search Minerals Inc. (TSX VENTURE:SMY) has a strong and dedicated management team with outstanding capabilities in separate but related mining activities, any of which has the potential to generate significant shareholder value. Search's mineral exploration team is led by Vice President Exploration Dr. Randy Miller. Dr. Miller is responsible for directing the current exploration programs on Search's large land position in Labrador. Search also has a technology arm headed up by Dr. David Dreisinger, Chair of Hydrometallurgy at the University of British Columbia in Vancouver, Canada, and a consultant to several major international mining companies. Search's business strategy is to fund new ideas or concepts in the mineral exploration or metallurgical fields that have low initial costs and high potential.
Cautionary Statement:
This news release contains forward-looking statements. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include those risks set out in the Company's public documents filed on SEDAR at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
This press release does not constitute an offer to sell or solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to a U.S. Person unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release. 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 press release.

For more information, please contact
Search Minerals Inc.
Jim Clucas
President and CEO
604-688-6180
604-682-7317 (FAX)
jimclucas@searchminerals.ca
www.searchminerals.ca

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(TSX VENTURE:VHV) News; $14 Million Phase Three Drill Program Commences At Valley High's Cordero Silver-Gold Project In Mexico

VANCOUVER, BRITISH COLUMBIA--(http://www.investorideas.com/ gold and mining stocks blog )  - Sept. 30, 2010) - Valley High Ventures Ltd. ("Valley High") (TSX VENTURE:VHV) is pleased to announce the commencement of a phase three drill program at the Cordero silver, gold, zinc and lead project located 35 kilometres northeast of Hidalgo Del Parral, Chihuahua, Mexico. The phase three program is budgeted at $14,000,000 and will include approximately 59,000 metres of core drilling, initial metallurgical / engineering studies and continued surface exploration. The property comprises wholly-owned claims and consolidated land agreements that total approximately 20,000 hectares and is being explored in a Joint Venture with Levon Resources Ltd. (51% and operator). Valley High is a 49% contributing partner to the project.
A 59,000 metres drill program is expected to begin October 1^st; initially with two drill rigs that are currently on site and then expanding with additional rigs in the coming months. Drilling will be divided into three components; 1) continued definition and step-out drilling of the discoveries at the Pozo De Plata and Porphyry Zones, 2) initial step-out drilling from intersections encountered in phase one and phase two drilling, particularly at the Josefina zone and Dos Mil Diez zones, and 3) drill testing of targets outlined by phase one and phase two exploration surveys that included soil geochemistry, geophysics and geological mapping.
The Pozo De Plata Zone was first drilled in October 2009 with 3 out of 4 holes, returning important values in silver, gold, zinc and lead including exceptional values in discovery hole C09-5. Phase 2 drilling commenced in January, 2010 and focused on 50 metre grid drilling surrounding hole C09-5 and some larger step-outs to the southwest towards holes C09-1 and C09-2. Drilling to date has outlined an area of mineralization, some 465 metres long by 200 metres wide and with mineralized diatreme-hosted intervals at depths up to 300 metres. The zone may connect with holes C09-1 and C09-2 farther south for an additional 290 metres of potential strike length. Pozo De Plata is a tabular mineralized diatreme breccia with mineralized rhyolite and dacite dike swarms. Sulfide minerals, sphalerite, galena and possible silver sulphosalts occur as diatreme clasts, disseminated grains and massive accumulations in the diatreme breccia matrix and veins of massive sulfide and high grade replacement mineralization after large limestone clasts within the diatreme.
The Porphyry Zone, located on the east side of the Cordero Dome approximately 1,300 metres northeast of the Pozo De Plata zone comprises a series of nested, altered and mineralized igneous intrusive bodies (stocks) within the eastern contact zone of the Cordero Felsic Dome Complex. It has been tested by 8 holes over a distance of 1200 metres with encouraging results being previously reported from several holes including hole C010-41.
Initial Metallurgical / Engineering Studies
Engineering studies in Phase three will include preliminary metallurgical test work on the Pozo De Plata and Porphyry Zones, initiation of work preparatory to the completion of an initial 43-101 resource estimate and other related engineering studies including infrastructure and environmental base line studies.
Continued Surface Exploration
The majority of the large Cordero property has not been explored. The phase three program will continue surface exploration work including geological mapping, geochemistry and geophysics (3D IP and gravity surveys). Initially work will focus on two areas, the La Ceniza target, immediately northeast of the Porphyry zone and diatremes in the Molino de Viento Caldera Diatreme Complex located 7 km southwest of the Dos Mil Diez zone.
Robert Cameron, PGeo, who is a qualified person within the context of National Instrument 43-101, has read and takes responsibility for this news release.
About Valley High Ventures Ltd.:
Valley High is a Canadian based precious and base metal exploration company with projects located in Mexico, British Columbia and Yukon. The Cordero project in Mexico (49% interest) is being evaluated for large bulk mineable silver, gold, zinc and lead deposits. The Mount Polley project is located in British Columbia adjacent to Imperial Metals Corporation's ("Imperial") Mt. Polley copper-gold mine and includes a production royalty on the Boundary Property, with Imperial. In the Yukon, Valley High has an option to acquire a 100% interest in the Flume gold property which is located within the newly recognized White Gold District. Valdez Gold Inc. has been granted a right to earn up to 75% interest in Valley High's interest in the Flume property.
VALLEY HIGH VENTURES LTD.
Robert Cameron, Chief Executive Officer
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Such forward-looking statements or information, including but not limited to those with respect to the prices of copper, estimated future production, estimated costs of future production, permitting time lines, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of Valley High to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such factors include, among others, the actual prices of copper, the factual results of current exploration, development and mining activities, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in documents filed from time to time with the securities regulators in the applicable Provinces of British Columbia and Alberta.

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
Valley High Ventures Ltd.
Geoff Chater
(604) 614 7830
www.valleyhighventures.com
or
Renmark Financial Communications Inc.
Barry Mire
(514) 939-3989 or (416) 644-2020
bmire@renmarkfinancial.com
or
Renmark Financial Communications Inc.
Barbara Komorowski
(514) 939-3989 or (416) 644-2020
bkomorowski@renmarkfinancial.com
www.renmarkfinancial.com

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 and http://www.miningsectorstocks.com/  to get stock news, directories and showcase mining stocks to follow. Gold and mining investors can research stocks with the mining stocks directory, featuring Gold Stocks, Silver Stocks, Uranium Stocks, Copper Stocks, Zinc Stocks and Precious Metals TSX, TSX Venture, OTC, NASDAQ, AMEX, NYSE, ASX, AIM and other leading Stock Exchanges. The investorideas.com mining stock directory lists over 1100 publicly traded mining stocks for investors. Preview the directory here : http://www.investorideas.com/Gold_Stocks/Stocks_List.asp
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(TSX VENTURE:CVB)  News ; Compass Gold Exploration Program Results and Option Exercise

VANCOUVER, BRITISH COLUMBIA--(http://www.investorideas.com/ gold and mining stocks blog )  - Sept. 30, 2010) - Compass Gold Corporation (TSX VENTURE:CVB) ("Compass" or the "Corporation") provides the following update regarding its exploration activities in Mali, West Africa, pursuant to three exploration gold research permits held by Africa Mining SARL ("Africa Mining"). Africa Mining granted Compass the option to acquire 51% of the issues shares of Africa Mining in December 2009.
Highlights

• Phase 1 exploration program completed on gold exploration licenses in Mali, West Africa.
• Exploration results exceeded expectations having highlighted twelve significant gold anomalies. Ten of the twelve anomalies coincide with high-level potassic values, often associated with gold mineralization.
• Exploration results on the Yanfolila license include:
  • Solona Prospect: Four gold anomalies defined with strike lengths ranging from 1,600m to 4,000m
  • Yanfolila East Prospect: Three gold in soil anomalies defined with strike lengths ranging from 2,600m to 4,000m
  • Yanfolila Prospect: Existing artisanal mining site extended by a 50m x 10m area and a further gold in soil anomaly identified with a strike length of 2000m
  • Guendibi Prospect: Two gold in soil anomalies defined with strike lengths ranging from 1,000m to 3,000m
  • Noumourila Prospect: One gold in soil anomaly identified with a strike length of 1,800m

Second phase exploration program proposed to include the following key activities:

• Yanfolila license: Collation of all available data (geology, geochemistry, geophysics) associated with structural interpretation in order to advance Solona and Yanfolila prospects to drilling stage.
• Kolondieba License: Advance defined targets by trenching and regional and semi-regional exploration of the remainder of the license area.
• Dandoko License: Regional geochemical exploration and detail mapping of all artisanal mining sites.

Initial Exploration Program – Work Completed
In February 2010, Africa Mining commenced an initial $500,000 exploration program. This focused on the Yanfolila License located in south west Mali. Africa Mining holds three exploration licenses. These licenses are all located in key gold producing regions in Mali. A summary of the exploration work completed is set out below:
Yanfolila
The majority of the Company's exploration work was focused on the Yanfolila License in accordance with a 43-101 report completed by Watt Griffis & McOuat Limited dated January 2010 ("43-101 Report") entitled "A Technical Review of the Yanfolila Gold Concession, Mali West Africa" which recommended focusing exploration efforts on the identified Solona target. In addition, Africa Mining conducted additional exploration work on a regional and semi-regional scale with the objective of assessing the potential of the whole license. Exploration work consisted of:

• Geological mapping at the scale of 1:20,000 of the whole license (250km²), with additional mapping completed at the scales of 1:10,000 and 1:1,000 on the Solona target;
• Geochemical survey over five defined targets: 8,446 soil samples and 733 termite mould samples collected using a grid of 200m by 40m over the 4 target areas;
• 55 artisanal mining pits cleaned and 257 channel samples collected;
• 70 auger holes, 21m each, drilled using a truck mounted drill rig. 240 samples (1.5m composite samples) collected;
• 150m hand dug trench with the collection of 150 samples;
• A 12 sq km ground magnetic survey completed over the Solona target; and
• A topographic survey completed over the Solona artisanal working area.

Soil geochemical survey at the grid of 200m by 40m has been completed over the 4 target areas with the objective of extending the strike length of each anomaly from the existing 300m to more than 1 km.
A total of 10,251 samples (of the type set out above) were collected and submitted to ALS Chemex laboratory in Bamako and gold assayed for gold. ALS Chemex in Bamako is ISO 17025 accredited. The testing procedures including sample size and analysis completed for the samples assayed followed the procedures as set out in the 43-101 Report, which can be found under Compass' profile at www.sedar.com.
Dr. Madani Diallo the Qualified Person for the purpose of this news release is the principal of M-Consulting, which conducted the work programs described in this news release. Dr Diallo supervised all work completed through all stages including sample planning, implementation and quality assurance.
The results of the work program included the following:

• Geological Mapping

As a result of the mapping, five large target areas covering 31% of the license were selected for semi-detailed soil geochemical sampling. Known and new anomalies were identified and extended. The target areas were defined based on geology, geomorphology or the presence of old or current artisanal workings.

• Geochemical soil survey

The soil geochemical survey was completed over the four target areas and resulted in 8,644 samples have been collected. The interpretation of the assays has both increased the size of known anomalies and identified several new large gold-in soil anomalies as follows:

• Solona: the original strike length of the gold anomaly was increased from 300m to 1,200m. Three new significant gold anomalies, with respective strike lengths of 1,600m, 2,000m and 4,000m have been defined.
• Yanfolila East: three new anomalies with respective strike lengths of 2,600m, 3,000m and 4,000m have been defined
• Yanfolila: the existing artisanal mining site has been extended to 50m by 10m area and a new gold in soil anomaly has been identified with a strike length of 2,000m.
• Guendibi: Two new anomalies were defined with strike lengths of 1,000m and 3,000m.
• Noumourila: a new anomaly with a strike length of 1,800m was identified.

Ten of the twelve gold anomalies are coincident with high-level potassic anomalies. This is encouraging as potassic anomalies are a sign of potassic alteration, which is often associated with gold mineralization.
A short description of the size of discovered anomalies is set out in the table below.

Zones	Dimension(m)	Au range (ppb)
Solona anomaly	2200 x 700	16 to 2000
Solona south east anomaly	1600 x 1000	16 to 158
Solona north east anomaly	2200 x 500	16 to 2450
Solona north anomaly	4000 x 600	16 to 43300
Noumourila 2 anomaly	1800 X 1000	16 t0 99
Yanfolila anomaly	2000 X 600	16 to 210
Yanfolila South anomaly	1000 X 400	16 to 152
Yanfolila West anomaly	2800 X 1500	16 to 622
Guendibi anomaly	3000 X 1500	16 to 403
Guendibi north anomaly	1000 X 600	16 to 152
Anomaly A	3000 X 600	16 to 1220
Anomaly B	4000 X 2200	16 to 788
Anomaly C	2600 X 600	16 to 238

• Detailed work – Solona

At the Solona artisanal mining site, trenching, pitting and auger drilling have extended the known gold mineralisation from 300m to a potential 1200m strike length.
Of the 288 artisanal mining pits dug by miners over the years, 55 pits have been selected and channel sampled. 70 auger holes, each to the depth of 21 m have been drilled using a truck mounted drill rig. Best auger holes intersections are 2.45 g/t over 7.5m (true thickness) and 1.49 g/t over 10.5m (true thickness) using 1.5m composite samples.
A 150m trench has been hand dug in order to intersect mineralization to the south of the artisanal mining area. As a result of this work, a 100m wide mineralized corridor has been defined, with values ranging from 0.2 g/t to 5g/t.
The Solona gold mineralisation is also coincident with a very strong potassic anomaly which is a positive indicator of gold mineralization.

• Detailed work – Yanfolila

At the Yanfolila target, channel sampling and auger drilling was completed over the artisanal open pit area. The artisanal open pit is some 50 m long by 10 m wide on the flank of a small lateritic plateau.
Results from channel sampling of the walls of the pits as well as results from the five drilled auger holes show grades up to 3 g/t. Best auger holes intersections were 12m @ 1.04 g/t (true thickness) and 4.5m @ 3.28 g/t (true thickness)
Based on visual observation it appears that the mineralization is related to an intrusive body, and indicates a potential for a pervasive mineralized rock with a bulk tonnage.
Kolondieba
Exploration activities focused on a desk study of previous work on the license in order to allow the definition of a prospective target area for the completion of some ground geophysics.
The completed ground geophysics works included:

• Ground magnetic survey over 7.5 sq km target area defined by field mapping; and
• 0.62 sq. km induced polarization survey, within the same 7.5 sq km target area, with the intent of defining a mineralized zone.

A preliminary interpretation of data suggests that the mineralization area might be related to the contact zone between the sediments and the granitic intrusion. Africa Mining proposes to undertake additional mapping and some pitting activities in the indicated areas.
Dandoko
The Dandoko license was granted in May 2010, toward the end of the field season. Field work will start on the license in November, after the end of the rainy season. It is proposed that geological mapping of the license will be completed by end of the year, with the objective of defining targets for more detail work in 2011.
Second Phase Exploration Program
The second phase of the exploration program will have three main objectives:

• Bring the Solona and Yanfolila gold occurrence on the Yanfolila license to a drilling stage and commence drilling during the second quarter 2011.
• Conduct detailed work on the discovered gold anomalies on the Yanfolila license to bring them to a drilling stage toward the end of 2011
• Conduct regional and semi-regional work on the Kolondieba and Dandoko licenses in order to define targets that can be drilled in early 2012.

The second exploration phase will include geological mapping and geochemical surveys at different scale, reinterpretation of all available data and its integration with newly collected and to be collected data, trenching and drilling. It is anticipated that a budget of C$4m to C$5m will be necessary to define the mineral resources on the best targets.
Exercise of Option by Compass
Based on the results of the exploration program, the Board of Compass has exercised its initial option to acquire a 20% shareholding in Africa Mining.
The Company will now proceed to earn a further 31% shareholding in Africa Mining by Compass:
(1) paying C$500,000 (in cash or securities) to Africa Mining; and
(2) funding a further $1,500,000 exploration program for Africa Mining to acquire a total 51% interest in Africa Mining.
Compass expects the funding for the C$1,500,000 exploration program to come from the combination of the exercise of existing warrants as well as a future private placement.
Compass will update the market when the formalities associated with the exercise of the option are completed.
Dr. Madani Diallo, a Qualified Person pursuant to National Instrument 43-101, takes responsibility for the technical information contained in this release.
About Compass Gold Corporation
Compass Gold Corporation is a Tier 2 mining issuer listed on the TSX Venture Exchange and focused on gold exploration in Mali, Africa's 3rd largest producer of gold. Compass holds an exclusive option to acquire a 51% interest in Africa Mining, which holds an interest in three gold exploration permits (Yanfolila, Dandoko and Kolondieba) covering 634 sq km's (156,664 acres) in key gold producing regions in south west Mali, West Africa. Further information is available at www.compassgoldcorp.com.
COMPASS GOLD CORPORATION
James Henderson, President
This press release includes "forward-looking statements" including forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Compass Gold Corporation. Statements regarding expectations of results, including defining strike lengths on old mineralization at the Solona, Yanfolila and Guendibi targets and the definition of the Solona gold mineralized body are subject to all of the risks and uncertainties normally incident with undertaking mineral exploration in Africa, including but are not limited to technical, operational and environmental risks associated with gold exploration including but not limited to final sampling results and accuracy of technical evaluation and cannot be relied upon until final verified independent results are reviewed by Compass. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Compass Gold Corporation does not assume the obligation to update any forward-looking statement, except as required by applicable law.

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

For more information, please contact
Compass Gold Corporation
James Henderson
President
(604) 638-8067
(604) 648-8105 (FAX)
info@compassgoldcorp.com
www.compassgoldcorp.com

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(TSX:IMN) News ; Inmet Announces Extension of Subscription Receipt Exchange Deadline with Wholly-Owned Subsidiary of Temasek Holdings

TORONTO, CANADA--(http://www.investorideas.com/ gold and mining stocks blog )  - Sept. 29, 2010) - Inmet Mining Corporation ("Inmet") (TSX:IMN) announced today that it and Ellington Investments Pte. Ltd. ("Ellington"), an indirect wholly-owned subsidiary of Temasek Holdings (Private) Limited, have agreed to extend to December 31, 2010 from September 30, 2010 the date by which 9,258,419 previously issued subscription receipts can be exchanged on a one-for-one basis for Inmet common shares. The exchange of the subscription receipts for Inmet common shares remains subject to the satisfaction of certain conditions, including the coming into effect of legislation passed by the legislative assembly of the Republic of Panama amending Panama's Mineral Resources Code (the "Code") to permit entities in which foreign governmental bodies or authorities have an interest to hold direct or indirect interests in mining concessions in Panama.]

On April 23, 2010, Ellington purchased 9,258,419 subscription receipts at a price of $54.0049 each for total proceeds to Inmet of $500 million. These proceeds will remain in escrow with CIBC Mellon Trust Company, as subscription receipt agent, pending exchange of the subscription receipts for common shares. On completion of the exchange, the escrowed funds will be released to Inmet and the proceeds will be used by Inmet for the development of its Cobre Panama project and for general corporate purposes.
If the Code amendment described above is not in effect by December 31, 2010 (or such later date as may be agreed), the subscription receipts shall be automatically terminated and cancelled and the escrowed funds plus accrued interest will be returned to Ellington.
Forward looking information
Securities regulators encourage companies to disclose forward-looking information to help investors understand a company's future prospects. This press release contains forward-looking information. These are "forward-looking" because we have used what we know and expect today to make a statement about the future. Forward-looking statements usually include words such as may, expect, anticipate, and believe or other similar words. Capital and operating cost estimates are forward-looking statements, and are based on assumptions that we believe to be reasonable. However, actual events and results could be substantially different because of the risks and uncertainties associated with our respective business or events that happen after the date of this press release. You should not place undue reliance on forward-looking statements.
About Inmet
Inmet is a Canadian-based global mining company that produces copper, zinc and gold. We have interests in four mining operations in locations around the world: Cayeli, Las Cruces, Pyhasalmi, and Ok Tedi. We also have a 100 percent interest in Cobre Panama, a development property in Panama.
About Temasek Holdings
Incorporated in 1974, Temasek Holdings is an Asia investment company headquartered in Singapore. Supported by 12 affiliates and offices in Asia and Latin America, Temasek owns a diversified S$172 billion (US$119 billion) portfolio as of 31 July 2009, concentrated principally in Singapore, Asia and the emerging economies. Its portfolio covers a broad spectrum of industries: financial services; telecommunications & media; transportation & logistics; real estate; infrastructure, industrial & engineering; energy & resources; life sciences, consumer & lifestyle; and technology.
For further information on Temasek, please visit www.temasek.com.sg
This press release is also available at www.inmetmining.com.

For more information, please contact
Inmet Mining Corporation
Jochen Tilk
President and Chief Executive Officer
(416) 860-3972
www.inmetmining.com

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Mining Stocks;  Yankee Hat (TSX VENTURE:KHT) Closes Second Tranche of Financing for $694,883

VANCOUVER, BRITISH COLUMBIA--(http://www.investorideas.com/ gold and mining stocks blog)   - Sept. 29, 2010) - Yankee Hat Minerals Ltd. ("Yankee Hat" or the "Company") (TSX VENTURE:KHT) has closed the second tranche of its previously announced private placement, for a total of $694,883 in gross proceeds.


"In total, Yankee Hat has now raised $1,597,208 through this financing," stated David Matousek, President. "These funds will allow Yankee Hat to focus on the upcoming drill program on the Fran property at Mount Milligan in British Columbia."
Yankee Hat has issued 11,052,270 shares at a price of $0.05 per non-flow-through unit, and 1,896,934 shares at a price of $0.075 per flow-through unit.
The Pro-Group participants in this second tranche are Peter Brown ($100,000) and Michael Winiker ($10,000) and the insider participating is Tarbo Resources ($33,500).
In connection with the offering, the company has paid the following finder's fees:

• Raymond James Ltd., 408,024 warrants at an exercise price of 10 cents for a period of one year and a cash commission of $20,401;
• PI Financial Corp., 18,000 warrants at an exercise price of 10 cents for a period of one year and a cash commission of $900; and
• D & D Securities Inc., 90,000 warrants at an exercise price of 10 cents for a period of one year and a cash commission of $4,500.

The proceeds from the offering will be used for the fall drill program on the company's Fran property and for general working capital purposes.
All transactions remain subject to regulatory and corporate approval.
About Yankee Hat Minerals Ltd.Yankee Hat Minerals Ltd. is a publicly held resource company that utilizes its management's expertise in mineral exploration and evaluation, and financial acumen, to identify, acquire, and develop mineral prospects in mining friendly jurisdictions with the potential to host large-scale discoveries. The company strategically focuses on commodities that have strong underlying price fundamentals such as gold and precious metals, rare earth elements and tungsten. The Company's website at www.yankeehatminerals.com and public filings at www.sedar.com provide additional information on its projects and other information with respect to its management and operations.



ON BEHALF OF THE BOARD
"Brad Kitchen"
P. Bradley Kitchen, Chief Executive Officer

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
Yankee Hat Minerals Ltd.
David Matousek
President
604.638.8072
604.688.9620 (FAX)
info@yankeehatminerals.com
www.yankeehatminerals.com
or
Investor Cubed Inc.
Neil Simon
647.258.3310 or Toll Free: 1.888.258.3323
nsimon@investor3.ca
www.investor3.ca

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Visit Investorideas.com leading mining portals - http://www.gold-miningstocks.com/
 and http://www.miningsectorstocks.com/  to get stock news, directories and showcase mining stocks to follow. Gold and mining investors can research stocks with the mining stocks directory, featuring Gold Stocks, Silver Stocks, Uranium Stocks, Copper Stocks, Zinc Stocks and Precious Metals TSX, TSX Venture, OTC, NASDAQ, AMEX, NYSE, ASX, AIM and other leading Stock Exchanges. The investorideas.com mining stock directory lists over 1100 publicly traded mining stocks for investors. Preview the directory here : http://www.investorideas.com/Gold_Stocks/Stocks_List.asp