EIN Presswire: Mining Live Feed Press Releases

Vista Gold Corp. Announces Transaction with Invecture Group to Advance the Concordia Gold Project in Mexico

Wed, 08 Feb 2012 03:17:47 +0000

Vista Gold Corp. Announces Transaction with Invecture Group to Advance the Concordia Gold Project in Mexico

PR Newswire

DENVER, Feb. 7, 2012 /PRNewswire/ -- Vista Gold Corp. (TSX & NYSE Amex Equities: VGZ) ("Vista" or the "Corporation") is pleased to announce that it has entered into an Earn-in Right Agreement (the "Agreement") with Mexico-based Invecture Group, S.A. de C.V. ("Invecture") with respect to Vista's Concordia gold project in Baja California Sur, Mexico. Invecture is the owner of Frontera Copper Corporation, which owns and operates the Piedras Verdes Copper Mine in the Mexican State of Sonora. A conference call with management to discuss this transaction is scheduled for Monday, February 13, 2012 at 11:00 a.m. MST.

Vista holds the Concordia gold project through its wholly-owned, Mexican subsidiary, Desarrollos Zapal, S.A. de C.V. ("DZ Mexico"). Under the terms of the Agreement, Invecture has agreed to make a non-refundable payment of US$2.0 million in exchange for the right to earn a 60% interest (subject to adjustment) in DZ Mexico (the "Earn-in Right"). The Earn-in Right will expire if not exercised by February 7, 2014, subject to extension in certain circumstances (the "Earn-in Period"). The Agreement provides that during the Earn-in Period, Invecture will, at its sole expense, manage and operate the Concordia gold project and will undertake all commercially reasonable efforts to obtain the Change of Forest Land Use Permit ("CUSF") and the Authorization of Environmental Impact which are required to develop the project. Invecture has advised that it will secure US$70.0 million in project debt finance to construct the Concordia gold project after it has exercised the Earn-in Right and after a project development decision has been made. Once Invecture has earned its interest in the Concordia gold project, the parties have agreed to evaluate market conditions with regard to the future organization and ownership structure of DZ Mexico.

Commenting on this transaction with Invecture, Fred Earnest, President and CEO of Vista, said, "Our team in Mexico has worked hard to advance the Concordia gold project. This investment by Invecture represents a vote of confidence that the Concordia gold project represents an excellent opportunity to develop a new mine that we expect will make an important contribution to employment and to the economy in Baja California. We and Invecture believe that the environmental impacts of the development of a mine can be limited and that the benefits to the state and local communities will far outweigh these concerns. We believe Invecture's in-country experience, financial strength, and committed management team make Invecture an excellent strategic partner to take the lead in securing the authorizations and financing required to bring Concordia into production."

The Agreement provides that the exercise of the Earn-in Right by Invecture is conditional upon, among other things: (i) receipt of the CUSF and the Authorization of Environmental Impact; (ii) the completion of a feasibility report on the Concordia gold project which updates the existing feasibility report with respect to costs; (iii) Invecture funding the Concordia gold project during the Earn-in Period; and (iv) Invecture making an additional payment of US$20.0 million to DZ Mexico, which amount will be used to repay intercompany loans owed by DZ Mexico to Vista.

During the Earn-in Period and subject to the terms of the Agreement, Vista will hold 40% of the DZ Mexico shareholder voting rights. The remaining 60% of the DZ Mexico shareholder voting rights will be held in a trust that will be instructed by representatives from Vista and Invecture. Upon Invecture's exercise of the Earn-in Right, Vista will continue to hold a 40% interest (subject to adjustment) in DZ Mexico and the Concordia gold project.

As part of the Agreement, DZ Mexico has transferred all of its other material assets, including the mill equipment acquired by Vista for the Concordia gold project in 2008 and the Guadalupe de los Reyes gold/silver project, to other entities in the Vista group of companies. Vista has granted Invecture the option to cause DZ Mexico to acquire the mill equipment for US$16.0 million plus storage, insurance and transportation costs and any applicable taxes. This option is exercisable by Invecture during the first 12 months after the date of the Agreement.

Mr. Earnest went on to conclude, "With Concordia being funded and managed by a very capable Mexican partner, we are able to fully focus our energy and resources on the development of the Mt. Todd gold project in Northern Territory, Australia, and on the exploration and evaluation of the Guadalupe de los Reyes gold/silver project in Sinaloa, Mexico. We have drilling programs underway at both of these projects, and in the coming weeks, we expect to announce the results of a definitive feasibility study for the Mt. Todd gold project, which will be a significant milestone in our development of that world class project."

About Vista Gold Corp.

Vista is focused on the development of its Mt. Todd gold project in Northern Territory, Australia, and its Concordia gold project in Baja California Sur, Mexico, to achieve its goal of becoming a gold producer. After the initial public offering of the common shares of Midas Gold Corp. ("Midas"), Vista held approximately 30% of Midas' common shares. Midas has a large exploration property in Idaho, including the Yellow Pine property previously held by Vista. Vista's other holdings include the Guadalupe de los Reyes gold-silver project in Mexico, the Awak Mas gold project in Indonesia and the Long Valley gold project in California. For more information about our projects, including technical studies and resource estimates, please visit Vista's website at www.vistagold.com.

About Invecture Group, S.A de C.V.

Invecture Group holds approximately $500 million in assets, is owned by Mexican investors and owns Frontera Copper Corporation whose principal asset is the Piedras Verdes copper mine in the State of Sonora, Mexico. It acquired Frontera in 2009 and has executed a significant turnaround in operational, financial and community relationship terms. This included restarting the Piedras Verdes mine, raising US$140 million to acquire mining equipment, build a crushing, screening and stacking circuit and a major upgrade to the management team.

Management Conference Call

A conference call with management to discuss this transaction is scheduled for Monday, February 13, 2012 at 11:00 a.m. MST.

Toll-free in North America: 1-866-443-4188
International: 1-416-849-6196

This call will also be web-cast and can be accessed at the following web location:
http://www.snwebcastcenter.com/event/?event_id=2580

This call will be archived and available at www.vistagold.com after February 13, 2012. Audio replay will be available for three weeks by calling in North America: 1-866-245-6755, passcode 827120.

If you are unable to access the audio or phone-in on the day of the conference call, please feel free to email questions to Connie Martinez, Manager - Investor Relations, (email: connie@vistagold.com), and we will try to address these questions prior to or during the conference call.

This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, and U.S. Securities Exchange Act of 1934, as amended, and forward-looking information within the meaning of Canadian securities laws. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Vista expects or anticipates will or may occur in the future, including such things as, the timing of the expiry of the Earn-in Period, the exercise of the Earn-in Right by Invecture, Vista's continued interest in DZA Mexico after the exercise of the Earn-in Right, the receipt of the required mining authorizations in respect of the Concordia gold project, the completion of an updated feasibility report on the Concordia gold project, the payment by Invecture of costs associated with the Concordia gold project, the payment by Invecture of US$20 million to DZA Mexico to exercise the Earn-in Right and the subsequent repayment of intercompany loans, the anticipated benefits of the Earn-in Right Agreement, the ability of Invecture to assist with the advancement of the Concordia gold project, including acceleration of efforts and receipt of authorizations required for the Concordia gold project, the evaluation of strategic alternatives for the Concordia gold project, development of a mine at the Concordia gold project and the resulting contribution to employment and the economy in Baja California, environmental impact of development on the mine, benefit to local and state communities as a result of development of a mine at the Concordia gold project, timing for and announcement of the definitive feasibility study for the Mt. Todd gold project and other such matters are forward-looking statements and forward-looking information. When used in this press release, the words "optimistic," "potential," "indicate," "expect," "intend," "hopes," "believe," "may," "will," "could," "if," "anticipate," and similar expressions are intended to identify forward-looking statements and forward-looking information. These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Vista to be materially different from any future results, performance or achievements expressed or implied by such statements. Such factors include, among others, risks associated with reliance on Invecture, risks related to timing, completion and results of feasibility studies, uncertainty of resource estimates, estimates of results based on such resource estimates; risks relating to cost increases for capital and operating costs; risks related to the ability to obtain the necessary permits, risks of shortages and fluctuating costs of equipment or supplies; risks relating to fluctuations in the price of gold; the inherently hazardous nature of mining-related activities; potential effects on Vista's operations of environmental regulations in the countries in which it operates; risks due to legal proceedings; risks relating to political and economic instability in certain countries in which it operates; as well as those factors discussed under the headings "Note Regarding Forward-Looking Statements" and "Risk Factors" in Vista's latest Annual Report on Form 10-K as filed on March 14, 2011, and Quarterly Report on Form 10-Q, as filed November 9, 2011, and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities. Although Vista has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements and forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Except as required by law, Vista assumes no obligation to publicly update any forward-looking statements or forward-looking information; whether as a result of new information, future events or otherwise.

For further information, please contact Connie Martinez at (720) 981-1185.

SOURCE Vista Gold Corp.

Teck Announces New Collective Agreement at its Quebrada Blanca Operation

Wed, 08 Feb 2012 02:38:05 +0000

Teck Resources Limited (TSX: TCK.A and TCK.B, NYSE: TCK) announced today that employees at its Quebrada Blanca operation in Chile have ratified a new 46-month agreement, commencing February 2012 through November 2015, replacing an agreement which expired on January 31, 2012.

"Our discussions with the union have reached a successful conclusion, and we are pleased to have reached a new collective agreement at our Quebrada Blanca operation," said Alvaro DÃaz, Interim General Manager at Quebrada Blanca.

About Teck

Teck is a diversified resource company committed to responsible mining and mineral development with major business units focused on copper, steelmaking coal, zinc and energy. Headquartered in Vancouver, Canada, its shares are listed on the Toronto Stock Exchange under the symbols TCK.A and TCK.B and the New York Stock Exchange under the symbol TCK. Further information about Teck can be found at: www.teck.com.

Media Contacts:
Teck Resources Limited
Marcia Smith
Senior Vice President, Sustainability and External Affairs
604.699.4616
marcia.smith@teck.com
Teck Resources Limited
Claudia Onetto
Corporate Affairs Manager
+56 2 4645739
claudia.onetto@teck.com
Investor Contact:
Teck Resources Limited
Greg Waller, VP, Investor Relations and Strategic Analysis
604.699.4014
greg.waller@teck.com
www.teck.com

Gulfside Secures Port Snettisham Magnetite Iron Ore Property

Wed, 08 Feb 2012 02:16:00 +0000

Gulfside Secures Port Snettisham Magnetite Iron Ore Property

PR Newswire

TSX.V - GMG

Highlights:

Gulfside and Pacific Rim agreement for option to acquire 100% interest in Port Snettisham Magnetite Iron Ore Deposit, Alaska
Aggregate consideration for 100% interest is $3,770,000 plus 2.5% NSR royalty
Significant exploration including geophysics and 11 hole drill program, metallurgy and benefication work completed by previous explorers
64.5% Fe pellet feed fines produced with 0.01% S and 0.04% P
Deposit appears suitable for fines, pellet feed or iron ore pellet production

VANCOUVER, Feb. 7, 2012 /PRNewswire/ - Robert L. Card, President of Gulfside Minerals Ltd. ("Gulfside" or the "Company"), is pleased to report that on October 19, 2011, the TSX Venture Exchange accepted for filing an option agreement (the "Port Snettisham Agreement") between Gulfside and Pacific Rim Mineral, LLC (the "Vendor") pursuant to which the Company has the option to acquire up to a 100% interest in 49 contiguous claims covering 1,012 acres that comprise the Port Snettisham property, located about 30 miles (50 km) southeast of Juneau, Alaska.

The aggregate consideration payable by the Company over a seven year period ending October 31, 2018 is $3,770,000 cash ($120,000 cash payable in the first year). In addition, the Company must incur aggregate exploration expenditures on the property of $3,300,000 by October 31, 2018 ($150,000 to be incurred in the first year). The Vendor is entitled to a 2.5% NSR on the property with the Company having the right to reduce the NSR to 1.5% by paying $1,500,000 cash. A finder's fee of $22,000 cash was paid.

This project is a titaniferous (Ilmenite) magnetite deposit on the Snettisham Peninsula, however, there has been no Fe₂TiO₄ discovered so far,¹ which is less commercially viable than Ilmenite occurring with Magnetite. Ilmenite is the predominate TiO₂ oxide present as needles in the Hornblendite. Ore has been subjected to several programs of beneficiation test work and reports indicate that the ore is amenable to magnetic separation. It is possible to produce iron ore fines or pellet feed containing in excess of 64% Fe (Magnetic).² The concentrate can then be smelted using an oxygenated furnace (KOBM process)³ to produce pig iron and a slag containing high TiO₂ values.

The first major effort to explore the iron potential of the deposit was conducted in the 1950's by the US Department of the Interior, Bureau of Mines,⁴ who drilled 11 holes, conducted a geophysical survey over the body, and had beneficiation tests done on the ore samples. A section of 1900 feet of the deposit was explored to a depth of 1000 feet, totaling 6,546 linear feet of drill holes. This program reported good results with assays of 11%-48% Fe total, with a composite from one of the cores showing 18.9 Fe%, 2.6% TiO₂, 0.29% S, 0.32%P, and 0.05%V. Benefication of the iron ore samples involved crushing to 150 mesh and with dry magnetic separation. The analysis reported 61-64% Fe total, 3.5% TiO₂, 0.4% S, and 0.01% P.

Tenements Under Option

The magnetite-bearing diorite-hornblendite-pyroxenite intrusive occupies a land area of approximately 390 acres along the northeast shore of the Snettisham Peninsula. It appears the magnetite formed during a pegmatite alteration phase.

Isomagnetic lines at 2,000 Gamma intervals depicting areas of high magnetism and diamond drill holes from the work done by Thorne and Wells.

A high magnetic anomaly occurs near Sentinel Point and the intensity reduces to the east. Further work is planned to determine the extent of the magnetite mineralization and whether the magnetite mineralization is evenly distributed through the hornblendite-diorite and the large magnetite intrusions up to 1.5 metres wide identified by the USGS in the early 1920's.

Tailings from the Friday Gold Mine located nearby also showed significant magnetite mineralization implying that the intrusion maybe be part of an IOCG (Iron Ore Copper Gold) system well known for massive magnetite mineralization. A high magnetic anomaly extends for over a four square mile area (1036.4 hectares).(Thorne and Wells, 1956)

Tests on eight samples conducted by the University of California⁵ using a Davis Tube Test to determine the extent of recovery of magnetic iron yielded between 85% and 95% recovery indicated a high degree of magnetic recovery ideal for dry separation processing. Some of the titanium oxide Ilmenite crystals were liberated during the crushing process, which was crushed to a size of 5-100 mesh. Mineralogical work also identified the Ilmenite crystals forming discretely in the diorite containing the magnetite.

In 1953, the USGS Mines Department Territory Office in Juneau, conducted a drilling program planned around a magnetic survey that had been conducted previously which showed the typical lensoidal occurrence of magnetite intrusions in diorite. The drill hole put down at 30% inclination intercepted 350 feet (106 metres) of magnetic magnetite mineralization. A grab sample program of glacial detritus, rock chip outcrop samples showed soluble Fe from 19% to 48% Fe (the magnetic content was not determined and insoluble Fe was 3.5%).

The Alaska Juneau Gold Mining Company, in 1950, analysed 5 samples from the area and determined Fe total to be between 38.5% and 54.2% Fe. Significantly the phosphorous was 0.07%. The Alaskan Department of Mines Assay Office did a similar analysis and the average of the samples was 46.30% Fe, 0.69% P₂O₅ and S 0.69%. The titanium values ranged from 5.04% to 8.06%. Silica and alkali values were also considered acceptable for commercial iron ore concentrate. The analysis was obtained from a finely crushed concentrate of the samples. The Office concluded the ore was suited to magnetic concentration.

The US Bureau of Mines in 1964 (Holmes and Banning) took 3.5 tonnes of magnetite concentrate from Snettisam and successfully produced concentrates using wet and dry magnetic separation techniques. The maximum iron liberation occurred at a crush size of 100 mesh (a range from 20 to 325 mesh was tested). An electric furnace was used to produce pig iron from the ores and good quality pig iron was produced with 95.6% Fe from the sample.

In 1969, Marcona Corporation optioned the iron ore deposit and carried out extensive exploration including diamond drilling and metallurgical tests. It was reported in the Toyko Press (Nihon Keizai April 14, 1969) that Marcona Corporation and the Marubeni Company of Japan, had developed plans to pellitize two to four million tons of iron ore annually. In 1970, Marcona completed a feasibility study on the deposit and announced plans to put the deposit into production at a rate of 5 million tons of concentrate per year over a 50 year mine life. (State of Alaska, Mines Bulletin, February 1970.) The plan failed when iron ore prices declined.

Gulfside is currently preparing an exploration plan which will include:

Reconnaissance of the historical data and grid soil and rock chip sampling with an XRF gun and magnetic susceptibility meter.
An outcrop and trenching sampling study using a magnometer to correlate Fe with magnetic susceptibility. Mineralogy and petrology studies will also be conducted to analyse the presence of the titanium and vanadium mineralization in the magnetite and the extent of silica, sulphur, phosphorous and alkalis.
A ground based IP magnetic and gravity study to identify key changes in mineralogy and the extent of mineralization. No gravity surveys have been completed to date and this will be completed prior to a drilling phase.
A diamond drilling program directed by the results of the above two studies that will allow suitable targets to be identified so that a Resource Estimate can be produced followed by a Feasibility Study.
A benefication study using samples to ensure the results are statistically significant and the proposed benefication process design is proven at pilot plant size. Given the high cost of crushing to 100 mesh this stage is particularly important to the success of the project.
The tenement is conveniently located on the Pacific Coast, close to the capital of Alaska, Juneau and a major bulk commodity port Skagway. There is a major shipping route to Japan, Korea and China and the distance is 7,870 km compared to Brazil to China being 11,000 km.

As at February 2, 2012, the Metal Bulletin CFR Price Index for 62% Fe iron ore is $143.06 per tonne.

The information contained in this release has been obtained from previous exploration reports and government records and have not been verified.

Phillip Thomas, BSc., MBM, MAIG, Vice President and a consultant to the Company, the qualified person as defined by National Instrument 43-101, has reviewed and approved the technical content of this news release.

On Behalf of the Board of Directors,

Gulfside Minerals Ltd.

"Robert L. Card"

Robert L. Card
President

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

Forward-Looking Statements: This document includes forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning GMG's planned exploration programs and other statements that are not historical facts. When used in this document, the words such as "could," "plan," "estimate," "expect," "intend," "may," "potential," "should," and similar expressions are forward-looking statements. Although GMG believes that its expectations reflected in these forward looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements are disclosed under the heading "Risk Factors" and elsewhere in the corporation's periodic filings with Canadian securities regulators.

¹ Dahlin, D.C. 1951- Benefication of potential platinum resources from south eastern Alaska. (report of investigations/United States Department of Interior, Bureau of Mines;8553, electron microprobe analysis

² Holmes, Wesley T, Electric smelting of titaniferous iron ores from Alaska, Montana, and Wyoming, by Wesley T Holmes II and Llyod H Banning (Washington) US Department of Interior Bureau of Mines 1964

³ Freislich, Michiel, Sunil, Kumar Dr, Towards energy efficient iron and steel making - the greenhouse carbon abatement process (G-Cap) July 2009

⁴ Thorne R L, Wells R. R. Studies of the Snettisham Magnetite Deposit, South Eastern Alaska United States Department of Interior February 1956

⁵ Mitchell D. W. University of California, Berkeley 4, California USA Letter to Guy F Atkinson Company setting out assay results of samples submitted

SOURCE Gulfside Minerals Ltd.

PDF with caption: "Gulfside Secures Port Snettisham Magnetite Iron Ore Property ". PDF available at: http://stream1.newswire.ca/media/2012/02/07/20120207_C2301_DOC_EN_9800.pdf

FISSION Launches Social Media Program for Investors and Analysts

Wed, 08 Feb 2012 01:54:46 +0000

FISSION ENERGY CORP. ("Fission" or the "Company") (TSX VENTURE:FIS)(OTCQX:FSSIF) is pleased to announce the launch of a social media program to help investors, analysts and other interested parties stay up to date with news and updates from Fission. The program will include Twitter and YouTube, in addition to a CEO's Corner on the Company's website.

Fission on Twitter: Anyone interested in real-time updates via Twitter can connect with the Company's Twitter account by visiting the Fission Twitter page found here: www.twitter.com/FissionEnergy, or simply by clicking on the Twitter icon that can now be found at the top of any page on the Company's website.

Fission on YouTube: Video footage including, but not limited to, interviews with the CEO, the chief geologist and 3D visualizations of the Company's Waterbury Lake property in the Athabasca Basin can be found on the Company's YouTube channel which can be found here: www.youtube.com/user/FissionEnergyCorp.

Fission CEO's Corner: Featuring comments from Fission CEO Dev Randhawa, the CEO's Corner will cover Company and industry news and can be found here: http://www.fission-energy.com/s/Blog.asp.

Mr Randhawa, Fission's Chairman and CEO, commented, "Social media, together with the growth of smart phones and other Internet-enabled devices, has changed the way millions of people receive and communicate information. Responding to these changes, our social media program makes it even easier for shareholders and the investor community to stay up to speed with the very latest Fission news and developments."

FISSION ENERGY CORP. is a Canadian-based resource company specializing in the strategic acquisition, exploration and development of uranium properties and is headquartered in Kelowna, British Columbia. FISSION ENERGY CORP. Common Shares are listed on the TSX Venture Exchange under the symbol "FIS" and on the OTCQX International electronic trading system in the United States under the symbol "FSSIF".

This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

ON BEHALF OF THE BOARD

Dev Randhawa, Chairman & CEO

Fission Energy Corp.
Bob Hemmerling
Investor Relations
877.868.8140
info@fission-energy.com
www.fission-energy.com

Eurasian Minerals and Bullion Monarch Mining Enter into Merger Agreement

Wed, 08 Feb 2012 01:44:12 +0000

Eurasian Minerals and Bullion Monarch Mining Enter into Merger Agreement

PR Newswire

VANCOUVER, British Columbia, Feb. 7, 2012 /PRNewswire/ -- Eurasian Minerals Inc. (TSX-V: EMX; NYSE Amex: EMXX) ("EMX") and Bullion Monarch Mining, Inc. (OTCQB: BULM; FRA: BMJ) ("BULM") are pleased to announce that they have entered into a definitive agreement (the "Agreement") with respect to a proposed merger of BULM with a wholly-owned subsidiary of EMX (the "Transaction"). EMX has agreed to acquire all of the outstanding common shares of BULM for which BULM shareholders will receive 0.45 of an EMX common share and US$0.11 in cash for each BULM share held. The Transaction is expected to close in the second quarter of 2012 and the BULM shares will cease trading thereafter.

The combined company will hold more than 145 properties on five continents, as well as a currently paying 1% gross smelter return (GSR) royalty on several of Newmont Mining Corporation's operations and projects on the Carlin Trend in Nevada, including the Leeville mine and the Four Corners project. This royalty paid BULM more than US$20 million in the last six years and more than US$6 million in fiscal 2011 alone.

Following the closing of the Transaction, it is expected that BULM President James (Andy) Morris will join the EMX board of directors and BULM chairman and chief executive officer R. Don Morris will be appointed to the EMX advisory board.

Based on the consideration offered in the Agreement and current outstanding shares, the value of the total Transaction consideration approximates US$45.8 million and represents a 64% acquisition premium, based on 30-day volume-weighted average prices and average exchange rates through February 7, 2012. Although not free from uncertainty, the anticipated structure of the Transaction is expected to allow BULM shareholders to defer the majority of the United States tax effects of the Transaction until they ultimately decide to sell the EMX shares received as consideration.

The Transaction is subject to, among other things approval of the BULM common shareholders at a special meeting to be held to approve the Transaction. The Transaction is also subject to receipt of all necessary regulatory and stock exchange approvals and other customary closing conditions.

Officers, directors and certain significant shareholders of BULM have entered into voting agreements with EMX pursuant to which they agreed to vote the BULM shares beneficially owned by them (collectively representing approximately 44% of BULM's outstanding common shares) in favor of the Transaction, subject to the terms and conditions set forth in the voting agreements.

Pursuant to the Agreement, BULM is subject to customary non-solicitation covenants. In the event a superior proposal is made, EMX has the right to match such proposal, and in the event BULM's board of directors changes its recommendation or terminates the Transaction under certain circumstances, BULM has agreed to pay EMX a termination fee of US$4 million. In certain other circumstances where the Transaction is not completed, EMX could be obligated to pay BULM a reverse termination fee of US$1 million.

Important Information for Investors and Stockholders

This announcement is for informational purposes only and does not constitute an offer to purchase, a solicitation of an offer to sell the shares of EMX or a solicitation of any proxy, vote or approval. EMX will file with the United States Securities and Exchange Commission ("SEC") a registration statement on Form F-4 that will include a proxy statement of BULM that also constitutes a prospectus of EMX. EMX and BULM also plan to file with or furnish other documents to securities regulatory authorities in Canada and the United States regarding the proposed Transaction.

INVESTORS AND STOCKHOLDERS OF BULM ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS AND OTHER DOCUMENTS THAT WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION.

Anyone may obtain free copies of these documents when available free of charge under EMX's profile on SEDAR at www.sedar.com and from the SEC at its website at www.sec.gov, or by accessing EMX's website at www.eurasianminerals.com under the heading "Investors" and from EMX directly by contacting Scott Close, Director of Investor Relations: (303) 973-8585. Documents will also be available at BULM's website at www.bullionmm.com under the heading "investors" and from BULM directly by contacting Joseph Morris, Director of Investor Relations: (801) 426-8111. EMX, BULM, their respective directors and certain of their executive officers may be deemed to be participants in the solicitation of proxies from the shareholders of BULM in connection with the proposed Transaction. Information about the directors and executive officers of BULM is set forth in its proxy statement for its 2011 annual meeting of shareholders, which was filed with the SEC on August 29, 2011. Information about the directors and executive officers of EMX can be found in its 2011 management information circular dated July 19, 2011, which is available at www.sedar.com. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement/prospectus and other relevant materials to be filed with the SEC when they become available.

About Eurasian Minerals Inc. EMX is a global gold and copper exploration company utilizing a partnership business model to explore the world's most promising and underexplored mineral belts. EMX currently has projects in ten countries on four continents, and generates wealth via grassroots prospect generation, strategic acquisition, royalty growth and merchant banking. Visit EMX's website at www.eurasianminerals.com for more information.

About Bullion Monarch Mining BULM is a publicly traded gold-focused exploration royalty company with additional interests in oil-shale technology. The majority of BULM's current royalty revenues are derived from a high-quality claim block located in Northeastern Nevada's Carlin Trend. BULM's portfolio provides for direct leverage to commodity prices as well as the exploration potential of world-class ore deposits. Visit BULM's website at www.bullionmm.com for more information.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements contained in this press release include "forward-looking statements" that involve a number of risks and uncertainties, and actual results or events may differ materially from those projected or implied in those statements. Examples include the parties' ability to consummate the proposed Transaction and timing thereof, the benefits and impact of the proposed Transaction, including tax effects to shareholders, the combined company's ability to achieve synergies and value creation that are contemplated by the parties, EMX's ability to promptly and effectively integrate BULM's business and the diversion of management time on Transaction-related issues.

These forward-looking statements often include words such as "believe," "expect," "project," "anticipate," "intend," "plan," "seek," "will," "may," "would," "should," "could," "forecast" or similar expressions. EMX and BULM believe these judgments are reasonable, but you should understand that no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what impact they will have on the results of operations or financial conditions of EMX, BULM or the combined company, due to a variety of important factors.

EMX and BULM caution you that you should not rely unduly on these forward-looking statements, which reflect their current beliefs and are based on information currently available. Neither EMX nor BULM undertakes any obligation to update or revise any forward-looking statements as of any future date. Additional information concerning these statements and other factors can be found in EMX's and BULM's filings with securities regulatory authorities in Canada or the SEC, as applicable.

The NYSE Amex, TSX Venture Exchange and the Investment Industry Regulatory Organization of Canada do not accept responsibility for the adequacy or accuracy of this release.

SOURCE Bullion Monarch Mining, Inc.

Eurasian Minerals and Bullion Monarch Mining Enter Into Merger Agreement

Wed, 08 Feb 2012 01:31:17 +0000

Eurasian Minerals Inc. (TSX VENTURE:EMX)(NYSE Amex:EMXX) ("EMX") and Bullion Monarch Mining, Inc. (OTCQB:BULM)(FRANKFURT:BMJ) ("BULM") are pleased to announce that they have entered into a definitive agreement (the "Agreement") with respect to a proposed merger of BULM with a wholly-owned subsidiary of EMX (the "Transaction"). EMX has agreed to acquire all of the outstanding common shares of BULM for which BULM shareholders will receive 0.45 of an EMX common share and US$0.11 in cash for each BULM share held. The Transaction is expected to close in the second quarter of 2012 and the BULM shares will cease trading thereafter.

Officers, directors and certain significant shareholders of BULM have entered into voting agreements with EMX pursuant to which they agreed to vote the BULM shares beneficially owned by them (collectively representing approximately 40% of BULM's outstanding common shares) in favor of the Transaction, subject to the terms and conditions set forth in the voting agreements.

Important Information for Investors and Stockholders

About Eurasian Minerals Inc.: EMX is a global gold and copper exploration company utilizing a partnership business model to explore the world's most promising and underexplored mineral belts. EMX currently has projects in ten countries on four continents, and generates wealth via grassroots prospect generation, strategic acquisition, royalty growth and merchant banking. Visit EMX's website at www.eurasianminerals.com for more information.

About Bullion Monarch Mining: BULM is a publicly traded gold-focused exploration royalty company with additional interests in oil-shale technology. The majority of BULM's current royalty revenues are derived from a high-quality claim block located in Northeastern Nevada's Carlin Trend. BULM's portfolio provides for direct leverage to commodity prices as well as the exploration potential of world-class ore deposits. Visit BULM's website at www.bullionmm.com for more information.

Cautionary Statement Regarding Forward-Looking Statements

These forward-looking statements often include words such as "believe", "expect", "project", "anticipate", "intend", "plan", "seek", "will", "may", "would", "should", "could", "forecast" or similar expressions. EMX and BULM believe these judgments are reasonable, but you should understand that no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what impact they will have on the results of operations or financial conditions of EMX, BULM or the combined company, due to a variety of important factors.

Eurasian Minerals Inc.
Scott Close
Director of Investor Relations
(303) 973-8585
www.eurasianminerals.com

Bullion Monarch Mining, Inc.
Joseph Morris
Director of Investor Relations
(801) 426-8111
www.bullionmm.com

High Desert Gold Corporation Files Technical Report Confirming Resource Estimate for the Jumbo Zone at Gold Springs (Nevada/Utah)

Wed, 08 Feb 2012 00:07:22 +0000

High Desert Gold Corporation (TSX VENTURE:HDG)(OTCQX:HDGCF) ("HDG" or the "Company") is pleased to announce the filing on SEDAR of a technical report under National Instrument 43-101-Standards of Disclosure for Mineral Properties ("NI 43-101") confirming the original announcement of an initial resource for the Jumbo Zone at the Gold Springs gold silver project (see HDG PR11-18, December 22, 2011). The independent NI 43-101 compliant technical report has been completed by Mr. Kurt Katsura, registered Professional Geologist and Dr. Allan Armitage, registered Professional Geologist, both Independent Qualified Persons as defined by NI 43-101. The Gold Springs project is a joint venture between HDG (60%) and Pilot Gold Inc. (40%) with HDG as the managing partner. Gold Springs is located on the Utah/Nevada border.

Recent Highlights from the Property include:

Newly defined inferred resource estimate at the Jumbo Zone of 233,000 oz. AuEq*. The mineralization remains open to expansion laterally in all directions and to depth as the drilling to date has averaged only 148 metres in depth.
18 similar targets to the Jumbo Zone with +1gpt gold values from surface rock chip sampling.
ZTEM geophysical survey definition of a large 8 kilometer long north-south trending target which includes the resource on the Jumbo target.
Newly expanded land position to 6,287 ha covering numerous ZTEM anomalies

Ralph Fitch, President of High Desert Gold Corporation, stated "There are several important points for investors that can be taken from the NI 43-101 study:

There are a total of 18 areas with a similar geological setting and exposed mineralization to the Jumbo Zone; therefore, the potential exists, if drilling defines similar resources on many of these targets, for a large resource.
The ZTEM geophysical survey resistivity anomalies correlate very well with known gold occurrences in areas of outcrop. The ZTEM anomalies extend into areas that are covered by a thin layer of alluvium which we will be exploring going forward."

The initial resource was estimated for a 700 metre long segment of the Jumbo Zone which is open to expansion. Using a 0.3 gold equivalent (AuEq*) g/t cutoff, an inferred resource of 173,000 oz. gold at 0.57 g/t and 3.88 Moz of silver at 12.9 g/t, equivalent to 233,000 ounces of AuEq* at 0.77 g/t, has been estimated.

Jumbo Target Resource Estimate

Cut-off Grade (AuEq* g/t)

Au (g/t)

Ag (g/t)

AuEq* (g/t)

Tonnes

Grade

Grams

Ozs

Grade

Grams

Ozs

Grade

GRAMS

OZS

0.3 g/t

9,392,155

0.57

5,383,952

173,117

12.9

120,691,161

3,880,745

0.77

7,257,001

233,344

0.8 g/t

2,992,092

0.99

2,975,010

95,659

17.3

51,833,753

1,666,680

1.26

3,780,095

121,546


	* Gold equivalent (AuEq) calculations reflect gross metal content using approximate 3 year average metals prices of $1020/oz gold (Au), and $15.80/oz silver (Ag), and have not been adjusted for metallurgical recoveries.

The resource estimate is categorized as "inferred" as defined by the Canadian Institute of Mining guidelines for resource reporting. Mineral resources do not demonstrate economic viability, and there is no certainty that these mineral resources will be converted into minable reserves once economic considerations are applied.

HDG has secured a drill for the 2012 exploration program which would allow for up to 21,000 feet (6,400 metres) of reverse-circulation drilling. This season's exploration efforts will focus on expanding the resource at the Jumbo Zone and testing several of the remaining targets. HDG has permits for continued drilling in Utah and is working with the BLM in Nevada to develop access and drill sites which will allow for the testing of several of the priority targets.

ABOUT HIGH DESERT GOLD CORPORATION

The Company is a mineral exploration company that acquires and explores mineral properties, primarily gold, copper and silver, in North America. The major properties held by HDG are its 60% interest in the Gold Springs gold project situated along the border between Utah and Nevada and the 100%-owned San Antonio project in Sonora, Mexico. The Company also has a 34.8% interest in the Canasta Dorada property in Sonora, Mexico, through its equity interest in Highvista Gold Inc. There has been insufficient exploration to define a property-wide mineral resource at Gold Springs or at San Antonio and it is uncertain if further exploration will result in additional targets at these two projects being delineated as a mineral resource.

Certain statements contained herein constitute "forward-looking statements". Forward-looking statements look into the future and provide an opinion as to the effect of certain events and trends on the business. Forward-looking statements may include words such as "target", "open", "continued", "potential", "develop", "will" and similar expressions. Information concerning mineral resource estimates and the interpretation of exploration results may also be considered forward-looking statements; as such information constitutes a prediction of what mineralization might be found to be present if and when a project is actually developed. These forward- looking statements are based on current expectations and entail various risks and uncertainties. Actual results may materially differ from expectations, if known and unknown risks or uncertainties affect our business, or if our estimates or assumptions prove inaccurate. Factors that could cause results or events to differ materially from current expectations expressed or implied by the forward-looking statements, include, but are not limited to, possible variations in mineral resources, grade, metal prices; availability of sufficient financing to fund planned or further required work in a timely manner and on acceptable terms; changes in project parameters as plans continue to be refined; failure of equipment or processes to operate as anticipated; regulatory, environmental and other risks of the mining industry more fully described in the Company's Management Discussion & Analysis of Financial Position and Results of Operations, which is available on SEDAR at www.sedar.com. Readers are cautioned not to place undue reliance on the forward-looking statements contained in this news release. Except as required by law, HDG assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason.

This news release uses the term 'inferred resources' which is recognized and required by Canadian regulations (under National Instrument 43-101 Standards of Disclosure for Mineral Projects), however, such term is not a defined term under SEC Industry Guide 7 and is not normally permitted to be used in reports and registration statements filed with the United States Securities and Exchange Commission. Investors are cautioned not to assume that any part or all of the 'inferred resources' will be upgraded or converted into 'indicated resources' or 'reserves' as defined under NI 43-101. In addition, 'inferred resources' have a great amount of uncertainty as to their existence, and economic and legal feasibility. Under Canadian rules, estimates of inferred resources may not form the basis of feasibility or pre-feasibility studies, or economic studies except for preliminary economic assessment as defined under NI 43-101. Investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally mineable.

High Desert Gold Corporation
Richard Doran
Executive Vice President
(303) 584-0606
(303) 758-2063 (FAX)
rdoran@hdggold.com

Timken and United Steelworkers of America Local 1123 Reach New Tentative Agreement

Tue, 07 Feb 2012 23:14:09 +0000

Timken and United Steelworkers of America Local 1123 Reach New Tentative Agreement

PR Newswire

CANTON, Ohio, Feb. 7, 2012 /PRNewswire/ -- The Timken Company and the United Steelworkers (USW) Local 1123 today announced they have reached a new tentative agreement on a five-year contract to replace the existing labor agreement, which expires Sep. 2013. Members will vote on the new agreement, which is unanimously supported by local USW negotiators, within the next two weeks.

The parties reached a preliminary agreement in December, but union membership failed to ratify the proposal in a January vote, putting at risk a multi-million dollar investment in Stark County (Ohio). Timken is prepared to invest $225 million in its Faircrest Steel Plant if a new labor agreement is ratified.

"We have outlined a very attractive investment for our steel operations," said Salvatore J. Miraglia, Jr., president of Timken's Steel Group. "But it clearly will not move forward without a new agreement that ensures workforce stability throughout construction and startup. The vote will be our final opportunity to put the pieces in place to make this investment happen."

The project has received state and local assistance, in return for Timken's commitment to job security at the plant during the term of that support.

The tentative agreement continues to provide:

Increases to permanent base wages every year, in addition to cost-of-living adjustments;
Increases in both variable pay opportunities and incentive pay;
Improvements in health and wellness plans;
Increases in pension benefits;
And, includes changes to the wage escalation rate for new employees.

Background information is available on www.timken.com/agreement.

About The Timken Company

The Timken Company (NYSE: TKR; www.timken.com) keeps the world turning with innovative friction management and power transmission products and services that help machinery perform more efficiently and reliably. With sales of $5.2 billion in 2011 and approximately 21,000 people operating from locations in 30 countries, Timken is Where You Turn® for better performance.

Media Contact: Lorrie Paul Crum
Manager – Global Media and Strategic Communications
Mail Code: GNW-37
1835 Dueber Avenue, S.W.
Canton, OH 44706 U.S.A.
Telephone: (330) 471-3514
Mobile: (330) 224-5021
lorrie.crum@timken.com

Investor Contact: Steve Tschiegg
Director – Capital Markets and Investor Relations
Mail Code: GNE-26
1835 Dueber Avenue, S.W.
Canton, OH 44706 U.S.A.
Telephone: (330) 471-7446
steve.tschiegg@timken.com

For Additional Information:
www.timken.com/media
www.timken.com/investors

SOURCE The Timken Company

Spur Shareholders Approve the Sale of Spur BVI to Hong Tang Vision Ltd For $9.25 Million

Tue, 07 Feb 2012 22:09:22 +0000

(All amounts are expressed in Canadian dollars, unless otherwise stated)

Spur Ventures Inc. ("Spur" or the "Company") (TSX:SVU)(OTCBB:SPVEF) is pleased to announce that the Company received shareholder approval at the Special Shareholders' meeting held on February 7, 2012 in Vancouver for the proposed sale of its wholly-owned subsidiary, Spur Chemicals (BVI) Inc. ("Spur BVI") to Hong Tang Vision Ltd ("Hong Tang"), a limited liability company registered in the Cayman Islands for cash proceeds of $9.25 million.

The Company's shareholders gave near unanimous approval for the transaction with 28,855,614 (99.7%) of the votes cast in favour of the sale of Spur BVI at the Special Shareholders' Meeting ("The Meeting") and 79,000 (0.3%) of the votes cast against the transaction. The vote far exceeded the requirement that 66.67% of the shares cast at the Meeting vote in favour of the special resolution to sell Spur BVI.

As noted in the Company's January 10, 2012 press release announcing the proposed sale, under the terms of the share purchase agreement in relation to the transaction, a $9.0-million (U.S.) deposit toward the $9.25-million purchase price is currently being held in escrow with Hong Tang's lawyers in Vancouver and will be released, together with the balance of the purchase of price on closing of the transaction which the Company expects in the next few weeks.

A further announcement will be made in due course.

This news release contains "forward-looking statements". Forward-looking statements include, but are not limited to, statements with respect to the plans for completion of the disposition of all or substantially all of the Company's undertaking, future plans and objectives of the Company, estimation of mineral resources, the timing and content of upcoming programs, the realization of mineral resource estimates, the timing and amount of estimated future production, costs of production, capital expenditures, success of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, delays in obtaining regulatory approvals on acceptable terms; delays in obtaining shareholder approval; risks related to international operations; actual results of planned expansion activities; changes in project parameters as plans continue to be refined; future prices of resources; exchange rates for Canadian, U.S. and Chinese currencies; possible variations in grade or recovery rates, accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of development or construction activities; Chinese government policies on fertilizer and agriculture; general economic, market or business conditions as well as those factors discussed under "Description of the Business - Risk Factors" in the Annual Information Form. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements or information made in this press release, except as required under applicable securities legislation.

Spur Ventures Inc.
Dr. Robert Rennie
(604) 689-5564
rrennie@spur-ventures.com
Spur Ventures Inc.
Irfan Shariff
(604) 689-5564
(604) 566-9050 (FAX)
ishariff@spur-ventures.com
www.spur-ventures.com

Eldorado Gold Corporation and European Goldfields Limited Announce Recommendation By Leading Corporate Governance Firms That Shareholders Vote for the Merger

Tue, 07 Feb 2012 22:05:00 +0000

Institutional Shareholder Services ("ISS") and Glass Lewis & Co., LLC ("GL") have recommended that shareholders vote FOR the merger of Eldorado Gold Corporation ("Eldorado") (TSX:ELD)(NYSE:EGO)(ASX:EAU) and European Goldfields Limited ("European Goldfields") (TSX:EGU)(AIM:EGU) to be considered at their respective special meetings on February 21, 2012.

ISS and GL are leading independent international corporate governance analysis and proxy voting firms. Their recommendations assist shareholders in making decisions regarding proxy voting.

ISS and GL made their recommendations that shareholders vote FOR the merger based on their findings that the transaction is financially fair to shareholders of both companies, the strategic rationale is reasonable, market reaction has been favourable and there are no significant governance concerns.

Eldorado's Chief Executive Officer, Paul N. Wright, said, "We are pleased that both ISS and GL support our view that shareholders should support the merger. We maintain our commitment to strengthening performance and providing superior returns for shareholders, which this transaction will help us accomplish."

European Goldfields' President and Executive Chairman, Martyn Konig, said, "The positive recommendations of ISS and GL strengthen our belief that the consideration shareholders will receive is fair, and that it is in their best interests to vote FOR the merger with Eldorado."

Shareholders are reminded to vote their proxy FOR the Merger before the respective proxy deadlines:

Eldorado Gold: Voting Deadline: Friday, February 17, 2012 at 9:00 AM (EST)

For more information and assistance in voting your proxy, Eldorado shareholders are urged to contact Kingsdale Shareholder Services Inc. at 1-877-657-5856 or by email at contactus@kingsdaleshareholder.com.

European Goldfields: Voting Deadline: Friday, February 17, 2012 at 11:00 AM (EST)

For more information and assistance in voting your proxy, European Goldfields shareholders are urged to contact Phoenix Advisory Partners at North American Toll Free: 1-800-243-9416, United Kingdom Toll Free: +44 (0) 808 /101/1697 or Email: inquiries@phoenixadvisorypartners.com

If you have any questions regarding the deposit of your European Goldfields shares to the Arrangement, European Goldfields shareholders can contact Kingsdale Shareholder Services Inc. at 1-877-657-5856 or by email at contactus@kingsdaleshareholder.com.

About Eldorado Gold

Eldorado is a gold producing, exploration and development company actively growing businesses in Turkey, China, Brazil and Greece. With our international expertise in mining, finance and project development, together with highly skilled and dedicated staff, we believe that our company is well positioned to grow in value as we create and pursue new opportunities.

About European Gold Fields

European Goldfields is a developer-producer with globally significant gold reserves located within the European Union. The Company generates cash flow from its 95% owned Stratoni operation, a high grade lead/zinc/silver mine in North-Eastern Greece.

ON BEHALF OF ELDORADO GOLD CORPORATION

Paul N. Wright, President and Chief Executive Officer

ON BEHALF OF EUROPEAN GOLD FIELDS LIMITED

Martyn Konig, Executive Chairman and President

None of the securities anticipated to be issued pursuant to the Arrangement have been or will be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and any securities issued in the Arrangement are anticipated to be issued in reliance upon available exemptions from such registration requirements pursuant to Section 3(a) (10) of the U.S. Securities Act and applicable exemptions under state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities.

"Certain of the statements made herein may contain forward-looking statements or information within the meaning of applicable Canadian and US securities laws. Forward-looking statements or information herein include, but are not limited, to statements or information with respect to the announced recommendation in connection with the merger of Eldorado Gold Corporation and European Goldfields. Forward-looking statements and forward-looking information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. We have made certain assumptions about the forward-looking statements and information, including assumptions about the ability to achieve our goal of concluding this transaction. Even though our management believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that the forward-looking statement or information will prove to be accurate. Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. These risks, uncertainties and other factors include, among others, the ability to satisfy the conditions of the transaction, as well as those factors discussed in the sections entitled "Forward-Looking Statements" and "Risk Factors" in the Company's information circular for the meeting and its Annual Information Form & Form 40-F dated March 31, 2011. There can be no assurance that forward-looking statements or information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, you should not place undue reliance on the forward-looking statements or information contained herein. Except as required by law, we do not expect to update forward-looking statements and information continually as conditions change and you are referred to the full discussion of the Company's business contained in the Company's reports filed with the securities regulatory authorities in Canada and the U.S."

Request for information packages: reception@eldoradogold.com

European Goldfields
Steve Sharpe
SVP Business Development
+44 (0) 20 7408 9534
info@egofields.com
www.egoldfields.com
Liberum Capital Limited
Michael Rawlinson / Tom Fyson
+44 (0) 20 3100 2000
Brunswick
Carol Cable / Fiona Micallef-Eynaud
+44 (0) 20 7404 5959
egoldfields@brunswickgroup.com
BMO Capital Markets
Egizio Bianchini / Gary Mattan
+1 (0) 416 359 4001
Lazard & Co., Ltd
Spiro Youakim / Chris Seherr-Thoss
+44 (0) 20 7187 2000
Eldorado Gold Corporation
Nancy E. Woo
VP, Investor Relations
604.601.6650 or 1.888.353.8166
604.687.4026 (FAX)
nancyw@eldoradogold.com
www.eldoradogold.com

Champion Minerals Conveys a 51% Interest in the Attikamagen Iron Property to Labec Century Iron Ore Inc.

Tue, 07 Feb 2012 21:45:00 +0000

CHAMPION MINERALS INC. (TSX:CHM)(FRANKFURT:P02) ("Champion" or the "Company") reports that, pursuant to the Attikamagen Option and Joint Venture Agreement (the "Agreement") entered into with Labec Century Iron Ore Inc. ("Labec Century"), a subsidiary of Century Iron Mines Corporation, Champion has signed and delivered to Labec Century transfers conveying a 51% interest (the "Initial Interest") in the Attikamagen Iron Property to Labec Century.

After review, Champion has confirmed that Labec Century has fulfilled its obligation to fund $7,500,000 in exploration and development work expenditures on the Attikamagen Iron Property required to earn the Initial Interest. Labec Century has the option to increase its interest to 56% by funding a further $2,500,000 in exploration and development work on the Attikamagen Iron Property on or before May 12, 2013 and to further increase its interest to 60% by funding an additional $3,000,000 in exploration and development work on the Attikamagen Iron Property on or before May 12, 2014. Subject to Labec Century completing its applicable options, Labec Century and Champion will form a joint venture reflective of their proportionate ownership interests in the Attikamagen Iron Property.

"Champion is very pleased that Century Iron Mines Corporation, through its subsidiary, Labec Century, is progressing exploration of the Attikamagen Iron Property and that it has attracted WISCO International Resources Development & Investment Limited as a very strong minority partner in the Attikamagen Iron Property," said Thomas G. Larsen, President and Chief Executive Officer of Champion. "To Champion, WISCO's recent agreement to fund Labec Century with $40,000,000 for a 40% interest in Labec Century speaks loudly about the potential in the Attikamagen Iron Property."

About Champion Minerals Inc.

Champion Minerals is an iron ore exploration and development company with offices in Montreal and Toronto, focused on developing its significant iron ore resources in the provinces of Quebec and Newfoundland & Labrador. The Company's projects include: the Fermont Holdings in Quebec, jointly held by Champion (82.5% interest) and Fancamp Exploration Ltd. (17.5% interest); and a 49% interest in the Attikamagen Iron Property in Quebec and Labrador. Champion's Fermont Holdings, including the flagship Fire Lake North Project, are located in Canada's major iron ore producing district, proximal to four producing mines. Champion's team and advisory board includes mining and exploration professionals with substantial iron ore expertise, needed to effectively advance the Fire Lake North Project into production.

Please visit Champion's website at www.championminerals.com.

Statements made in this news release that are "forward-looking statements" are not historical facts. Readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results may vary materially from those stated herein.

Champion Minerals Inc.
Thomas G. Larsen
President and CEO
(416) 866-2200
Champion Minerals Inc.
Jorge Estepa
Vice-President
(416) 866-2200
www.championminerals.com

SBA-funded State Trade Export Program Helps Penn. Manufacturing Firm UMF Retain Jobs, Increase Sales

Tue, 07 Feb 2012 21:40:05 +0000

SBA-funded State Trade Export Program Helps Penn. Manufacturing Firm UMF Retain Jobs, Increase Sales

PR Newswire

JOHNSTOWN, Pa., Feb. 7, 2012 /PRNewswire-USNewswire/ -- Exporting has allowed United Medical Fabricators to retain its staff of 60 employees and increase sales while its supply partners have begun to grow, thanks to the Small Business Administration-funded State Trade Export Program in Pennsylvania. With STEP, a three-year pilot trade and export initiative authorized by the Small Business Jobs Act of 2010, UMF president and CEO Eileen Melvin embarked on Middle Eastern trade missions to export medical examination tables made by her company in Johnstown to hospitals in Saudi Arabia.

(Logo: http://photos.prnewswire.com/prnh/20110909/DC65875LOGO)

U.S. Small Business Administration officials, along with federal, state and local government officials toured UMF on Monday to mark the company's exporting success. "I have to commend the Pennsylvania state government in what they do," said U.S. Rep. Mark Critz.

"We have a very robust program here to help entrepreneurs in the state identify and then go after opportunities outside this country. What we do at the federal level is put funding in to help these organizations that do this international trade and international travel because without it, they could never do it on their own," Critz said.

Melvin used help from Pennsylvania's STEP program, to determine countries that would be likely to purchase UMF's medical equipment. State agencies were able to assist her in developing necessary overseas business relationships.

STEP grants are being awarded to state international trade agencies to support increased exporting by small businesses, which enables businesses like UMF to hire more workers, and make infrastructure investments that create more demand for small manufacturers, said acting SBA Regional Administrator Bridget Bean.

Bean is pleased with the trade expansion UMF medical has been experiencing. "Small businesses employ about half of the nation's work force and small businesses like UMF who export are helping propel our economy forward," Bean said. "STEP grants are a great example of how SBA is working with state and local governments to support regional economic development."

"The Southern Alleghenies Planning and Development Commission employs staff dedicated to international trade," Melvin said. "With their assistance our export sales increased more than 60% over last year. Now, across our country and the world, newborn babies are examined on UMF Medical pediatric tables. As they grow up, they are treated on our exam tables."

Contact: Janet Heyl (412) 395-6560, ext. 103 | Janet.Heyl@sba.gov

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SOURCE U.S. Small Business Administration

Thompson Creek Announces Commercial Production at the New Endako Mill and Reaffirms 2012 Production and Cash Cost Guidance for the Endako Mine

Tue, 07 Feb 2012 21:23:00 +0000

Thompson Creek Announces Commercial Production at the New Endako Mill and Reaffirms 2012 Production and Cash Cost Guidance for the Endako Mine

PR Newswire

NYSE: TC
TSX: TCM
TSX-V:TRX.WT

DENVER, CO, Feb. 7, 2012 /PRNewswire/ - Thompson Creek Metals Company Inc. ("Company" or "Thompson Creek"), a growing, diversified, North American mining company, today announced that the commissioning of the Company's new Endako mill is complete and that commercial production was achieved on February 1, 2012. For the first five days of February, the new mill was running at or above its design capacity of 55,000 tons per day, a 77% increase over the old mill's capacity of 31,000 tons per day. The construction of the regrind circuit for the new mill is still in process and is expected to be completed by the end of the first quarter of 2012. In the interim, the Company is utilizing the cleaner and regrind circuit in the old mill. The Company also reaffirmed 2012 production guidance for its 75% share of the Endako mine of approximately 10 - 11 million pounds of molybdenum and cash cost guidance of approximately $8.25 - $9.25 per pound.

"We are extremely pleased to have achieved the full design tonnage for the new mill just 20 days into the commissioning and start-up process," said Kevin Loughrey, Chairman and Chief Executive Officer of Thompson Creek. "Our employees, contractors, and suppliers have performed an outstanding job meeting the many challenges necessary to reach operational and commercial production so quickly. We continue to make significant progress and ramp up production, and we anticipate full production will be achieved in the second quarter of 2012. Once at full production, the Endako mine is expected to increase molybdenum production from approximately 10 million pounds per year to approximately 16 million pounds per year (100% basis)," added Mr. Loughrey.

About Thompson Creek Metals Company Inc.

Thompson Creek Metals Company Inc. is a growing, diversified North American mining company. The Company produces molybdenum at its 100%-owned Thompson Creek Mine in Idaho and Langeloth Metallurgical Facility in Pennsylvania and its 75%-owned Endako Mine in northern British Columbia. The Company is also in the process of constructing the Mt. Milligan copper-gold mine in central British Columbia, which is expected to commence production in 2013. The Company's development projects include the Berg copper-molybdenum-silver property and the Davidson molybdenum property, both located in central British Columbia. Thompson Creek has approximately 970 employees. Its principal executive office is in Denver, Colorado and its Canadian administrative office is in Vancouver, British Columbia. More information is available at www.thompsoncreekmetals.com.

Cautionary Note Regarding Forward-Looking Statements

Certain statements in this news release (including information incorporated by reference) are ''forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and applicable Canadian securities legislation. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Our forward looking statements include, without limitation: estimates of future capital expenditures and other cash needs for operations, including with respect to the Endako mill expansion and the development of Mt. Milligan, and expectations as to the funding thereof; statements as to the projected development of the Endako mill expansion, Mt. Milligan and other projects, including expected production commencement dates; statements regarding future earnings, and the sensitivity of earnings to molybdenum prices; estimates of future production costs and other expenses for specific operations and on a consolidated basis; estimates of future mineral production and sales for specific operations and on a consolidated basis; estimates of mineral reserves and resources, including estimated mine life and annual production; estimates as to commodity prices; and statements with respect to the future financial or operating performance of Thompson Creek or its subsidiaries and its projects.

Where we express an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, our forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from future results expressed, projected or implied by those forward-looking statements. Important factors that could cause actual results and events to differ from those described in such forward-looking statements can be found in the section entitled ''Risk Factors'' in Thompson Creek's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other documents filed on EDGAR at www.sec.gov and on SEDAR at w ww.sedar.com. Although we have attempted to identify those factors that could cause actual results or events to differ from those described in such forward-looking statements, there may be other factors that cause results or events to differ from those anticipated, estimated or intended. Many of these factors are beyond TCM's ability to control or predict. Given these uncertainties, the reader is cautioned not to place undue reliance on our forward-looking statements. We undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events, or otherwise.

Pamela Solly
Director, Investor Relations
Thompson Creek Metals Company Inc.
Tel: (303) 762-3526
psolly@tcrk.com

Christine Stewart
Renmark Financial Communications Inc.
Tel: (416) 644-2020
cstewart@renmarkfinancial.com

SOURCE Thompson Creek Metals Company Inc.

Cliffs Natural Resources Inc. to Dissolve Michigan Iron Nuggets Joint Venture with Kobe Steel

Tue, 07 Feb 2012 21:15:00 +0000

Cliffs Natural Resources Inc. to Dissolve Michigan Iron Nuggets Joint Venture with Kobe Steel

PR Newswire

CLEVELAND, Feb. 7, 2012 /PRNewswire/ -- Cliffs Natural Resources Inc. (NYSE: CLF) (Paris: CLF) announced today that it plans to dissolve its Michigan Iron Nuggets Joint Venture with Kobe Steel. The joint venture was originally formed in 2007 to explore the viability of constructing a commercial operation to produce a pig iron substitute using Kobe's ITmk3 technology and Cliffs' iron ore assets. This product was anticipated to be marketed as a feedstock to the electric arc furnace and foundry markets. The plant was designed and permitted for construction adjacent to Cliffs' operations in the Upper Peninsula of Michigan.

(Logo: http://photos.prnewswire.com/prnh/20101104/CLIFFSLOGO )

Cliffs indicated that throughout the life of the venture it had conducted a number of feasibility studies on the possibility of pursuing a commercially viable process, but ultimately concluded that given its strategic priorities to focus on its core business, continued work on the project should be ended.

Joseph Carrabba, chairman, president and chief executive officer of Cliffs, said, "We are disappointed that we are not able to move forward with the iron nugget facility, but remain very appreciative of the efforts made by federal, state, county and township officials who worked with Cliffs over several years on this project. We are grateful for their support in the exploration of this potential industrial operation in Michigan."

Cliffs said it had less than 10 employees exclusively working on the joint venture and plans to reassign nearly all to other positions within the Company. In addition, there are no anticipated material financial impacts as a result of the decision.

About Cliffs Natural Resources Inc.

Cliffs Natural Resources Inc. is an international mining and natural resources company. A member of the S&P 500 Index, the Company is a major global iron ore producer and a significant producer of high- and low-volatile metallurgical coal. Cliffs' strategy is to continually achieve greater scale and diversification in the mining industry through a focus on serving the world's largest and fastest growing steel markets. Driven by the core values of social, environmental and capital stewardship, Cliffs associates across the globe endeavor to provide all stakeholders operating and financial transparency.

The Company is organized through a global commercial group responsible for sales and delivery of Cliffs products and a global operations group responsible for the production of the minerals the Company markets. Cliffs operates iron ore and coal mines in North America and two iron ore mining complexes in Western Australia. The Company also has a 45% economic interest in a coking and thermal coal mine in Queensland, Australia. In addition, Cliffs has a major chromite project, in the pre-feasibility stage of development, located in Ontario, Canada.

News releases and other information on the Company are available on the Internet at: http://www.cliffsnaturalresources.com

Forward-Looking Statements

This release contains "forward-looking" statements within the safe harbor protections of the federal securities laws. Although the Company believes that its forward-looking statements are based on reasonable assumptions, such statements are subject to risk and uncertainties relating to Cliffs' operations and business environment that are difficult to predict and may be beyond Cliffs' control. Such uncertainties and factors may cause actual results to differ materially from those expressed or implied by forward-looking statements for a variety of reasons, including: the uncertainty or weakness in global economic and/or market conditions; trends affecting our financial condition, results of operations or future prospects, particularly any slowing of the economic growth rate in China for an extended period; Cliffs' ability to achieve the synergies and the strategic and other objectives related to the acquisition of Consolidated Thompson; the outcome of any contractual disputes with our customers or significant suppliers of energy, materials or services; our ability to successfully complete the repair and refurbishment work at the Oak Grove Mine in the expected time frame; the amount and timing of any insurance recovery proceeds with respect to Oak Grove Mine; the impact of price-adjustment factors on our sales contracts; availability of capital equipment and component parts; the failure of plant, equipment or processes to operate as anticipated; unanticipated downturns in business relationships with customers or their purchases from us; customers' ability to meet their obligations to us on a timely basis or at all; events or circumstances that could impair or adversely impact the viability of a mine and the carrying value of associated assets; unexpected claims, charges, litigation or dispute resolutions; the impact of acquisitions and divestitures; unanticipated difficulties integrating acquisitions; our ability to obtain any permits, approvals, modifications or other authorization of, or from, any governmental or regulatory entity; new laws and governmental regulations; the ability to achieve planned production rates or levels; our actual economic ore reserves; reductions in current resource estimates; the ability to maintain adequate liquidity and successfully implement our financing plans; other problems or uncertainties with productivity, third-party contractors, labor disputes, weather conditions, natural disasters, tons mined, changes in cost factors, the supply or price of energy, transportation, mine-closure obligations and employee benefit costs and other risks of the mining industry; and other factors and risks that are set forth in the Company's most recently filed reports with the Securities and Exchange Commission. The information contained herein speaks as of the date of this release and may be superseded by subsequent events. Except as may be required by applicable securities laws, we do not undertake any obligation to revise or update any forward-looking statements contained in this release.

SOURCE Cliffs Natural Resources Inc.

Strike Minerals Exploration on the Hemlo West Holdings

Tue, 07 Feb 2012 21:04:49 +0000

Strike Minerals Inc. ("Strike") (TSX VENTURE:STK) announces that the company has completed a cursory surface investigation of the company's "Hemlo West Properties" located near Schreiber, Ontario.

The Company conducted a limited evaluation on the historical Harkness-Hayes property to determine accessibility to the property and obtained grab samples that contained any alteration (silicification, carbonitization) and/or rusty weathering/gossan indicating sulphide content. Twelve grab samples were procured. Sample results ranged from a trace to two samples with 0.555 and 0.901 g/t Au and one sample returned an assay of 15.5 g/t Au.

The historical Harkness-Hays gold property hosts a number of auriferous zones which have received little systematic work since mining operations in the 1930's. Historical channel sampling on Vein #3 returned grades of 2.63 g/t Au over 25.4 cm to 1396.7 g/t Au over 25.4 cm for channels cut every 5 feet over a strike length of 250 feet. (* note: historical non 43-101 compliant values).

An additional 23 rock samples were taken over a number of surface mineralized zones. The Morley zone had a brecciated sulphide vein with a strike length in excess of 150 m with a subvertical to 60 degree westerly dip. Two samples of altered rhyolite volcanic were taken across the vein at approximately 50 m separation yielded values of 5.5 g/t Au and 1,040 g/t Ag with 2.62% Zn and 1% Pb, a second sample had 3.65 g/tonne Au and 1,320 g/t Ag in the third sample had 2.63 g/t Au.

In the north-eastern portion of the property numerous north-western trending hydrothermal quartz veins were located. The veins were generally associated with carbonate alteration and tourmaline. Samples taken were mineralized with pyrite, chalcopyrite and in some samples pyrrhotite and yielded 4.04 g/t Au and 13 g/t Au.

Strike Minerals plans to carry out further systematic geological mapping, trenching and sampling programs over the property in the spring of 2012, to identify areas of gold mineralization for further exploration. Cleaning of historical trenches and surface stripping will allow for channel sampling to test the various identified zones for continuity along strike. Future diamond drilling will test for continuity at depth.

About Strike

Strike Minerals is a TSX-V listed company that is engaged in the exploration and development of precious metal properties in Canada. Its primary property is the former producing Edwards Gold Mine property in the Goudreau - Lochalsh Gold Camp near Wawa Ont. Historic production in the camp between 1930 and 2001 is estimated at 500,000 ounces. Between 1996 and 2001 underground development was completed through a decline to a depth of approximately 290 m and mining over the period resulted in 145,000 oz being produced from the Edwards property at an average grade of 0.35 oz/t. At present Strike has dewatered the underground workings to the 120m level and is commencing development on the 60m and 90m level with the plan to be in production by the end of 2012.

Forward-Looking Statements

This Press Release may contain statements which constitute "forward-looking statements" including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities and operating performance of the Company. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities or performance and involve risks and uncertainties, and that the Company's future business activities may differ materially from those in the forward-looking statements as a result of various factors. Such risks, uncertainties and factors are described in the Company's periodic filings with the Canadian securities regulatory authorities, including the Company's Annual Management Information Circular and quarterly and annual Management's Discussion & Analysis, which may be viewed on SEDAR at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements.

Strike Minerals Inc.
Michael Newbury
(416) 417-7907
info@strikeminerals.com