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NuLegacy Gold Starts Drilling Program at Coal Canyon

NuLegacy Gold has begun drilling at the Coal Canyon as part of its current 10,500 m drilling campaign at its Red Hill prospect.

20 Aug 2011

NQ Exploration Announces Drilling Results from Lac Shortt Project

NQ Exploration has released the drilling results of three holes from the Lac Shortt project, which is situated approximately 150 km to the southwest of Chibougamau in Quebec.

20 Aug 2011

Creso Exploration Reports Diamond Drilling Results from Shining Tree Area

Creso Exploration has proclaimed the results of eight drill holes, 1393 m in total, from the Matona, Tyrrell, Porphyry Lake and Hare Lake options at the Shining Tree district.

19 Aug 2011

Teslin River Resources Completes RC Drilling Program at Mustang Property

Teslin River Resources has completed a reverse circulation (RC) drilling program at the Mustang property, which is situated 20 mi southeast of Gabbs in Nevada.

19 Aug 2011

Aben Resources Starts Phase I Diamond Drilling at Justin Gold Project

Aben Resources has begun a Phase I diamond drilling program, totaling 2,000 m, at its 4,114 acre Justin gold project, located in western Yukon.

19 Aug 2011

Namibia Withdraws Planned Mining Tax Hike

The government of Namibia has withdrawn its proposed mining tax hike. Earlier in the year the Namibian government had announced a proposal to raise the mining tax rate to 44% from its current rate of 37.5 %. The Deputy Finance Minister of Namibia, Calle Schlettwein, said that the proposal had been withdrawn to increase the corporate tax on mining companies.

18 Aug 2011

Compass Gold to Acquire Remaining 49% of Africa Mining SARL

Compass Gold Corp is planning to buying out the 49% of a gold mining operation called Africa Mining SARL from Transocean Finance Pty Ltd. and Madani Diallo. Compass Gold will swap 30 million units of common shares and purchase warrants for the 49% stake in Africa Mining.

From Compass Gold Corporation 18 Aug 2011

Chavez Looks to Return Gold Reserves Back to Venezuela

The president of Venezuela Hugo Chavez has told his government to repatriate $11 billion in gold bullion to safeguard the nation from global economic crisis. The gold is currently held in banks in the U.S and Europe. The president also said that he would nationalize the local gold industry to help the economic situation.

18 Aug 2011

Lake Shore Gold Extends Gold Mineralization at Bell Creek

Lake Shore Gold has received promising results from the drilling exploration program at its Bell Creek property near Timmins, Ontario. The Canadian mineral exploration company is registered on the Toronto Stock Exchange and owns 100% of the property

17 Aug 2011

Zijin Mining Looks to Acquire Stake in Kyrgyzstan Gold Miner

Zijin Mining Group wants to buy a 60% stake in Altynken LLC, a Kyrgyzstan based gold mining company. The proposed $66 million bid is subject to approvals from both the Chinese and Kyrgyzstan governments. It filed its intentions to the Hong Kong bourse on Tuesday.

17 Aug 2011