Argentina Mining Play

[Ed Monton]

Meridian: Esquel could go underground, or be written off

By: Dorothy Kosich

Posted: '27-OCT-05 03:00' GMT © Mineweb 1997-2004

http://www.mineweb.net/sections/gold_silver/509838.htm

RENO--(Mineweb.com) Meridian Gold finally opened up a bit Wednesday concerning the future of the controversial Esquel project in Argentina, including consideration of options to develop Esquel as an underground mine.

Although the conference call was mainly aimed at discussion of third-quarter results and the Fortuna Resource near Meridian's El Peñon gold mine in Chile, analysts were diligent in their pursuit of the ultimate fate of Esquel. The gold deposit is located in the Cordon de Esquel in the northern Province of Chubut (Patagonia), Argentina.

The third anniversary of a community vote rejecting mining in the area will take place in March 2006, prompting analysts to ask whether Meridian was finally considering taking a write-down of the project. Meridian Vice President of Corporate Development & Investor Relations Wayne Hubert said Esquel has a $350 million carry value, including a $310 million purchase price and $40 million in predevelopment and social costs.

Meridian Gold President and CEO Brian Kennedy told analysts that "we have created a different project, a better project" concerning Esquel, which might involve an underground mine and relocating its proposed mill. However, he added, no decision has been made to transform the currently stalled project into a proposed underground mine.

Kennedy told analysts that KPGM is currently making an accounting evaluation project, which could possibly suggest Esquel be written-down. Nevertheless, he insisted that it was "not an evaluation of the economic benefit of the project."

In its news release containing third-quarter results, Meridian stated, "the eventual timing of the [Esquel] project cannot be determined at this time and may exceed the three-year window under applicable accounting guidelines. Therefore, the company may be required to write-down these long-lived assets to their estimated fair value. ...In spite of the accounting treatment mentioned above, the company remain confident in the long-term economic, environmental and technical aspects of the Esquel project..."

Kennedy told analysts that he expected the accounting report to be published well before the March 2006 deadline. Kennedy had not returned Mineweb's call asking for clarification of the Esquel situation prior to deadline Wednesday night.

In March 2003, 81% of the population of Esquel Argentina voted against the proposed mine. The consulting firm Business for Social Responsibility found Meridian had failed to consistently and comprehensively consult the community about the proposed project before it became a major issue. The community raised concerns related to the project's impact on water quality and quantity. In addition, the community closely identified Meridian with unpopular political authorities.

During Wednesday's conference call, Meridian highlighted the Fortuna vein's estimated measured and indicated resource of 189,000 ounces of gold and 10.2 million ounces of silver as of July 31, 2005. Vice President of Exploration Darcy Marud exclaimed, "we are going to make a lot of money here" as Meridian continues drilling the deposit.

Meanwhile, Meridian reported net earnings of $9 million or 9-cents per share for the third quarter ended September 30, 2005, down slightly from the $9.6 million in net earnings reported during the same quarter of 2004.

Gold production during the third quarter of this year was reported at 75,000 ounces at a net cash cost of $44 per ounce. Meridian estimated that gold production for 2005 will total 300,000 ounces from El Penon at a net cash cost of $50/oz. Kennedy said that $23 million will be spent on exploration this year, which will be reduced to $20 million in 2006.

Net earnings for the nine months ended September 30, 2005, were reported at $27.9 million (28-cents per share) down from net earnings of $29.1 million (29-cents per share) for the same period of 2004.

Hubert said Meridian is encountering higher commodity prices for mining operations as well as higher taxes on production. Tax expense for the first nine months of this year was $22.6 million or an effective rate of 45% compared to $21.1 million or an effective tax rate of 42% during the first nine months of 2004.

Meridian reported $251.3 million in cash and short-term investments as of September 30, 2005, up from $217.8 million as of December 31, 2004.

[december]

The property in Argentina has potential. Time will tell how things work out.

[Ed Monton]

Mansfield begins Lindero gold deposit


2005-10-21 12:54 ET - News Release

Mr. Gordon Leask reports

DRILLING COMMENCES AT LINDERO, ARGENTINA

Mansfield Minerals Inc. has commenced a 2,500-metre, 12-hole drill campaign on its 100-per-cent-owned Lindero gold deposit in Argentina. The drill program has been designed to expand and delineate the outer limits of the deposit with the ultimate goal of expanding the known resource of 29,953,000 tonnes at 1.08 grams per tonne gold (1,035,900 ounces of gold) using a 0.6 gram per tonne cut-off. This resource was estimated by Rio Tinto Mining and Exploration Ltd. and audited by Roscoe Postle Associates Inc. in October, 2003 (for further information see the company's news issued in Stockwatch on Sept. 22, 2003, and Nov. 26, 2004).

This news release has been reviewed by Gordon P. Leask, PEng, president of the company, and a qualified person as defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects).

[Ed Monton]

There was a lot of buying from one house a while back (Scotia). I wonder what they know?

[december]

Stock has gone quiet again. Will be picking up some more real soon.

[Ed Monton]

Exeter finds 4.2 g/t Au over 9 m in new La Cabeza zone


2005-10-14 10:23 ET - News Release

Mr. Bryce Roxburgh reports

EXETER DISCOVERS THIRD VEIN SYSTEM AT LA CABEZA-CUELLO EAST

Exeter Resource Corp. has made the discovery of a third high-grade gold vein system at its La Cabeza gold project -- the Cuello East veins. The discovery is located 150 metres east of the main Cuello vein, and 250 metres east of the recently announced Cuello West discovery (see Stockwatch on Sept. 22, 2005).

Preliminary assay results from drilling into the Cuello East veins include intercepts of three metres at a grade of nine grams per tonne gold and nine metres at a grade of 4.2 g/t gold. The new drilling targeted significant surface sampling results announced in Stockwatch on Aug. 24, 2005. These included sawn surface channel sample traverses of 14 metres at a grade of 2.4 g/t gold and six metres at a grade of 30.3 g/t gold.

Detailed results

Diamond drill hole LCD-62, intersected five metres at a grade of 3.3 g/t gold, from a downhole depth of 22 metres (intercept includes two metres at a grade of 5.4 g/t gold from 23 metres), followed by a nine-metre intercept at a grade of 4.2 g/t gold from a downhole depth of 35 metres (intercept includes 0.9 metre at a grade of 23.3 g/t gold and 610 g/t silver from 36.2 metres, and 1.3 metres at a grade of 6.5 g/t gold and 80 g/t silver from 39 metres).

Diamond drill hole LCD-24, sited on the same section line as LCD-24, tested the vein at depth. The drill hole intersected 3.85 metres at a grade of 2.4 g/t gold, from a depth downhole of 148.5 metres, followed by a one-metre intercept at a grade of 5.4 g/t gold, at a depth downhole of 156 metres, followed by a 6.45-metre intercept at a grade of 4.7 g/t gold from a depth downhole of 162 metres (intercept includes three metres at a grade of nine g/t gold from 163 metres).

Reverse circulation drill hole LCP-155 located approximately 30 metres north of drill holes LCD-24 and LCD-62, intersected six metres at a grade of 1.6 g/t gold and 84 g/t silver from a downhole depth of 45 metres. These results are the first three drill holes effectively to test the Cuello East veins.

Initial analysis

Bryce Roxburgh, president and chief executive officer, said: "The Cuello zone is the largest of the four gold mineralized zones on the La Cabeza project. Our conceptual open pit for the Cuello zone developed a single vein only. The discovery of gold mineralization at Cuello West, and now at Cuello East, significantly enhances the resource potential of Cuello. Significantly, all three vein systems at Cuello are open for expansion.

"Looking ahead, the Cuello West and East discoveries will, with confirmatory drilling, result in the laying back of the western and eastern walls of the conceptual open pit. Accordingly, there is significant potential for enhancing the mining economics of both the Cuello zone and the entire La Cabeza project."

Additional reverse circulation percussion and diamond drilling is presently being planned as follow-up to the above results. This drilling will be in addition to the 14,000-metre (46,000-foot), three-rig drilling program currently under way. Results for additional exploration drilling will be announced as the program proceeds.

Quality control and assurance

Assay results presented in this news release are preliminary and were calculated using a 0.5 g/t gold cut-off grade. Check assays are awaited. Widths presented in this news release are drill intersection widths and may not represent true widths. Matthew Williams, Exeter's exploration manager and a qualified person within the definition of that term in Canadian National Instrument 43-101, has supervised the preparation of the technical information contained in this news release.

[Ed Monton]

Exeter extends Cuello West vein to minimum 170 m


2005-10-06 10:18 ET - News Release

Mr. Bryce Roxburgh reports

EXETER RESOURCE CORPORATION: NEW DRILLING EXTENDS CUELLO WEST HIGH-GRADE GOLD VEINS AT LA CABEZA

Exeter Resource Corp. has intersected the Cuello West vein system, first announced in Stockwatch on Sept. 22, 2005, in two new drill holes, defining a minimum strike length of 170 metres. The latest results include an intercept of 8.6 grams per tonne gold over three metres and warrant detailed follow-up drilling to fully define the Cuello West resource.

The first Cuello West step-out drill hole, LCD-61, located approximately 25 metres north of discovery drill hole LCP-169, encountered three mineralized intervals over a downhole depth of 82 metres: a three-metre interval grading 2.1 grams per tonne gold at a downhole depth of 45 metres; a second three-metre interval of 8.6 grams per tonne gold at a depth of 60 metres; and third interval of 3.9 grams per tonne gold over one metre, at a depth of 82 metres.

A second step-out drill hole, LCP-175, located approximately 145 metres north of LCD-61, intersected 2.6 grams per tonne gold over six metres, at a downhole depth of 75 metres. The Cuello West area is predominantly under sand cover.

The new results indicate continuity to the mineralized structures at Cuello West. The high-grade mineralization in previously announced drill hole LCP-169 (six metres at a grade of 15.5 grams per tonne gold from 67 metres, downhole depth) is considered to represent a zone of enhanced grade, similar to that in the main Cuello vein, located approximately 100 metres east of Cuello West.

The Cuello West veins have the potential to increase the La Cabeza gold resource and to enhance the economics of an open pit at Cuello. Effectively, gold mineralization at Cuello West would replace waste rock in a contemplated open pit on the main Cuello vein.

Exeter president and chief executive officer, Bryce Roxburgh, said: "The discovery at Cuello West is a product of our improved knowledge of the controls to gold mineralization at La Cabeza. I am confident that we can achieve similar success in the vicinity of the nearby Ojo, Luna and Mandibula mineralized zones, that, collectively, constitute the La Cabeza resource. A RAB drilling program is also in progress to discover new gold zones under areas completely covered by sand."

The assay results presented above are preliminary and have been calculated using a 0.5-gram-per-tonne-gold cut-off grade. Check assays are awaited. Widths presented above are drill intersection widths and may not represent true widths. Results for additional exploration drilling will be announced as the program proceeds.

Additional reverse circulation percussion and diamond drilling is presently being planned as follow-up to the above results. This drilling will be in addition to the 14,000-metre (46,000-foot), three-rig drilling program currently under way.

Qualified person

Matthew Williams, Exeter's exploration manager and a qualified person within the definition of that term in National Instrument 43-101, Standards of Disclosure for Mineral Projects, has supervised the preparation of the technical information contained in this news.

[Ed Monton]

La Mancha's Marr resigns from board; Jenks steps up


2005-10-03 15:37 ET - News Release

Mr. Ian Brown reports

NEW DIRECTOR APPOINTED

La Mancha Resources Inc. has uploaded a number of maps and diagrams that describe the new Ortiguita project onto its website (see Stockwatch news dated Sept. 23, 2005). The maps and figures illustrate Ortiguita's location in the province of San Juan in Argentina on the western border with Chile, roughly 12 kilometres east-southeast of Barrick Gold's 12.8-million-ounce Veladero mine, which has just gone into production, and about 29 kilometres east-northeast of Barrick's 17.6-million-ounce Pascua-Lama deposit.

La Mancha is also appointing John Jenks, PGeo, to its board of directors. Mr. Jenks holds a degree in geology from McGill University and has had a wide-ranging and distinguished career as practising geologist and geological consultant over the past 37 years. He has worked on projects in North America and South America, Africa, Asia and Australasia. Mr. Jenks has been La Mancha's principal consulting geologist on the Argentinean projects since 2003 and brings a profound familiarity with those projects to the board. La Mancha is granting to the new director 100,000 incentive stock options with an exercise price of $1.35 per share for a five-year term.

Mr. Jenks's appointment fills a vacancy created by the resignation of Jack Marr, PGeo, who wishes to focus on several other public company directorships. La Mancha thanks Mr. Marr for his service on the board over the past seven years.

[4x4]

V.TNR ...when are they going to release results of their drilling over the summer...???? Gold is on the rise, it would be nice to see a release increasing the reserves on the shotgun property.....When are they drilling on their Argentina property again or I guess TNK is doing the drilling....I would think soon..???

4x4

[Ed Monton]

Aquiline releases new Calcatreu drill results


2005-09-29 20:03 ET - News Release

Mr. Marc Henderson reports

AQUILINE COMPLETES WINTER DRILLING PROGRAM AT CALCATREU

Aquiline Resources Inc. has released the results from its recently completed winter drilling campaign at its 100-per-cent-owned Calcatreu gold project, Rio Negro province, Argentina. Aquiline has been aggressively advancing Calcatreu with a view to achieving commercial production as quickly as possible. This fast-track approach to development is part of a broader corporate strategy that includes a significant emphasis on continuing exploration, both within the Calcatreu tenements themselves as well as regionally in what appears to be a newly emerging epithermal district.

The recently completed exploration campaign totalled 2,945 metres of diamond core drilling for 18 completed drill holes. The work immediately followed the previously announced drilling program for the feasibility study that began in May of this year and total metres drilled for all categories -- metallurgical, geotechnical, infill and exploration -- totalled 6,334 metres in 56 drill holes.

The exploration program was directed toward expanding the resource at vein 49 through three principal objectives:


extension of the resource along the north strike extension;
location of at least one more ore shoot with down-dip potential; and
further definition of a previously encountered hanging wall splay structures away from the principal structure. These objectives were achieved and drilling results are as follows:

 
           CALCATREU RESULTS 
  
          From     To    Au    Ag 
 Hole No.   (metres)  (g/t) (g/t)   Vein 
  
 AQI-332   73     89.9  1.84  12.4 Vein49 
           97.3  101.2  9.59  75.4 
  
 AQI-333  122.4  126.2  1.41  17.0 Vein49 
          137.2  143    2.79  20.6 
 AQI-334   89.4   94.7  2.67   4.0 Vein49 
  
 AQI-335  145.8  148.4  0.63   2.7 Vein49 
  
 AQI-336   59     60    1.61   4.2 Vein49 
           80     81.2  1.27  18.2 
  
 AQI-337  Below cut-off            Vein49 
  
 AQI-338  172.9  174.7  1.02   6.0 Vein49 
          192.8  193.9  0.54   1.8 
  
 AQI-339  103.4  105.8  1.04   2.5 Vein49 
  
 AQI-340  157.3  158.3  1.16   3.4 Vein49 
  
 AQI-341   20     22.7  0.69  10.5 Vein49 
          104.9  108    2.88  67.4 
  
 AQI-343   50.1   57    3.68  41.7 Vein49 
          157    160    1.53  22.5 
  
 AQI-344   67.7   72.2  1.1   27.1 Vein49 
          152.6  154.6 10.44 252 
          101.6  102.8  3.3   91 
  
 AQI-351  139.2  141.5  0.83  11.6 Nelson 
                                   East 
          152.8  154    1.17   2.2 
          158    159.5  1.11  11.0 
  
 AQI-352  Below cut-off            Nelson 
  
 AQI-353   56     57.5  1.04 41.25 Nelson 
  
 AQI-354   83     83.5  1.17 26.9  Nelson 
  
 AQI-355   No intersection         Vein49 
  
  
 

........


Toward the north, drill hole AQI-332 (3.9 metres at 9.59 grams per tonne (g/t) Au) confirms significant mineralization to at least section 6350NE, which indicates an extension of the geologic resource at the 1,225 level approximately 50 metres beyond previous estimates. Toward the south on section 5775NE, AQI-344 (two metres at 10.44 g/t Au with 252 g/t Ag) intercepted attractive mineralization at the 1,160 level that suggests the potential for a second vein 49 oreshoot between sections 5750NE to 5950NE. The reader is directed to Aquiline's website to see the location of these and other drill holes on an updated longitudinal section along vein 49.

On section 5675NE, AQI-343 (6.9 metres at 3.68 g/t Au) confirmed a projected oblique hangingwall splay 90 metres outboard from the main vein 49 structure (intercept not depicted on the longitudinal section). Such splays are considered important exploration guides since they may represent mineralized link faults between a pair of principal tensional structures, (for example, the oblique discovery wash fault between the Quebrada Orito and Quebrada Colorada veins at Meridan Golds El Penon deposit in Chile).

Even while the winter drilling campaign was still in progress, targeting efforts were initiated for a more extensive drilling program which is tentatively scheduled to begin in late November. This program is likely to include up to 10,000 metres of new exploration drilling, the details of which will be announced upon the commencement of the program. The objective of the coming program will be to:


explore the significant but still little-tested subparallel structures to vein 49, including Belen and the undrilled Puesto veins; and
explore the east-northeast-trending Coyu-Nabel corridor.

Excluding the main project area at Vein 49/Nelson, this 36-kilometre-long corridor has seven principal target structures, where each have geochemical rock chip samples of quartz vein material collected yielding values greater than one g/t gold for a total of 58 such samples in the belt. To date, outside of the Vein 49/Nelson area, there has been a combined total of only 18 drill holes completed by Aquiline and former operator Normandy Australia in the corridor. Results from the previous limited drilling campaigns include intercepts of two metres at three g/t Au (Normandy 82-1) that have had no subsequent follow-up work.

Preparations for the scheduled late-November drilling campaign started off with a district-wide reinterpretation of the gradient array induced polarization geophysical database by consultant geophysicist Robert Ellis. New versions of the resistivity and chargeability plots have outlined a number of potential new target structures in the corridor. The geophysical delineation is being supplemented by continuing rock chip and soil geochemical sampling to enhance definition of drill targets.

Included in continuing exploration is field evaluation of an extensive geochemical database for Chubut province where Aquiline has a land position approaching 200,000 hectares. A significant portion of the property block is aligned along the Gastre fault corridor that hosts the world-class Navidad silver deposit. In Chubut, Aquiline has more than 80 gold and nearly 30 silver stream sediment (bleg) geochemical anomalies that have received minor or only limited follow-up work to date.

The terms of an investor relations agreement dated July 20, 2004, entered into with Fuller Fletcher & Associates Ltd. has been amended to provide for monthly retainer fee of $4,500 with a term expiring on Feb. 10, 2006.

In further news, Aquiline has acquired a total of 247 mineral claims comprising 5,425 hectares located in the province of Newfoundland & Labrador from an arm's-length vendor. The terms of the acquisition call for Aquiline to make staged cash payments and share issuance over a two-year period totalling $50,000 and 60,000 common shares of Aquiline (first year -- cash payments of $30,000 and the issuance of 40,000 common shares; second year -- cash payment of $20,000 and 20,000 common shares). The vendor has retained a 2-per-cent net smelter royalty in respect of the property. Aquiline has the right to purchase up to 2 per cent of the NSR upon making payment of $1-million for each 1 per cent of the NSR.

At Calcatreu, Aquiline has implemented a quality-control program to ensure best practice in chemical sampling and analysis of surface and drill core samples. The company's consultants, Ironbark Geoservices SRL, is providing technical management to the project and have a supervising geologist on site at all times while work is being carried out. Under the guidelines of the 43-101 National Instrument, the required qualified person for the Calcatreu gold project is Peter Mullens, who is a member of the Australian Institute of Mining and Metallurgy.

[december]

Long @ .10 :). GLTA. Same guys behind CUSAC.

[Ed Monton]

Consolidated Pacific Bay Minerals Ltd.: Pacific Bay Files New Claim Near Los Colorados Uranium Mine in Northern Argentina

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 29, 2005) - Mr. Guilford Brett, President, Consolidated Pacific Bay Minerals Ltd. (TSX VENTURE:CBP) (the "Company") is pleased to announce the filing of a 3,000 hectare (11.5 square mile) claim on-trend with the Los Colorados uranium mine, a former producer located in highly accessible, low-lying country in the northern province of La Rioja. This new claim, the "Cueva del Chacho", lies 8 kms north of the Los Colorados Mine on the same regional sedimentary reduction-oxidation boundary where approximately 55,000 kg of uranium concentrates were produced from classic sedimentary roll-fronts between 1992 and 1996 by a local Argentine company from the Los Colorados mine under contract to the Argentine National Atomic Energy Commission (CNEA).

PacBay previously announced the staking of a significant land package which includes known sedimentary roll-front type uranium occurrences in two separate areas within the Cerro Solo Basin uranium play in the Patagonia region of southern Argentina. With the acquisition of the Cueva del Chacho property, the Company now has a geographically diversified portfolio of uranium properties in Argentina with over 726 sq kms (280 square miles) under claim. The Cueva del Chacho claim in La Rioja province lies along a paved road within an hour's drive of the capital city and can be explored year round.

The Los Colorados Mine and the Cueva del Chacho claim lie in the middle third of a series of gently dipping continental sediments of Carboniferous age (Saladillo Formation) which, together with redbeds of the Permian Patquia Formation, overly Paleozoic granite that is the likely source of the uranium. During the time that the Los Colorados Mine was in production, reconnaissance for additional roll-front type uranium deposits along a north-south trending redox trend is reported to have discovered ground radiometric anomalies and visible yellow uranium minerals on the Cueva del Chacho ground. Here a band of gently dipping Carboniferous age sediments up to 60 m thick outcrops over 600 m along strike. In this zone there is a succession of strongly altered arkosic sandstones with intercalated carbonaceous shales which are reported to host radiometric anomalies all along the zone.

The Company believes that the Cueva del Chacho property has the potential to host a major uranium deposit and PacBay geologists are gearing up for the start of an immediate exploration program here and elsewhere in northern Argentina.

George Sanders, M.Sc., P.Geo, is a Qualified Person under National Instrument 43-101 and has reviewed and approved the technical content of this news release.

ON BEHALF OF THE BOARD OF DIRECTORS

Guilford H. Brett, President

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

[Ed Monton]

Marifil Re-Acquires Las Aguilas Platinum-Nickel-Copper Project

SPOKANE, WASHINGTON--(CCNMatthews - Sept. 29, 2005) - MARIFIL MINES LTD. (TSX VENTURE:MFM) has re-acquired ownership of the San Luis Platinum-Nickel-Copper project in San Luis Province, Argentina. BHPBilliton (BHPB) had been exploring the 30,432 hectare project and spent about US$1.7 million during the past 18 months. Overall, more than US$8.0 million has been spent on this large target area.

BHPB's target objectives were to find a "Tier 1 nickel deposit," which they define as one containing about 50 million tonnes grading 2-3% nickel. BHPB's internal report on the project concludes that "a number of Tier 2 and 3 targets remain to be tested" (Tier 2 and 3 targets are defined as those containing 10 to 50 million tonnes of 1 to 3% Ni). BHPBilliton did not investigate the platinum potential of the property.

Marifil's property includes the Las Aguilas deposit containing a resource of 2.2 million tonnes grading about 0.5% copper and 0.5% nickel (this is not a NI43-101 compliant reserve). This resource comprises the largest known copper-nickel-PGE deposit in Argentina. This deposit occurs within a large fold and mineralization is open-ended down dip along the plunge of the fold.

Marifil geologists recognized the platinum potential of this project and assayed one of the central holes in the deposit. This hole contains 42.0 m grading 1.10 g/t platinum group metals (PGE's) including 3 m grading 9.096 g/t platinum + 0.453 g/t palladium. This high ratio of platinum to palladium is significant because platinum is worth roughly 4.5 times as much as palladium.

Marifil intends to assay the diamond drill cores for platinum and to start a platinum exploration program.

This press release has been reviewed and approved by John Hite, President of Marifil Mines Ltd. and by Richard Walters, Executive Vice President of Marifil. Both are Qualified Persons, as defined by National Instrument 43-101, under whose direction the exploration programs are being carried out.

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

[Ed Monton]

Interesting uptick on CBP yesterday.

[december]

ANOTHER REASON TO BUY CBP - TSXV

Not sure if you are all familiar with Michael Schaefer of
Secret Stock Files (http://www.secretstockfiles.com/).. Mike Schaefer is considered the “Other Oracle of Omaha”. He is an awesome
stock picker and has a HUGE FOLLOWING and I personally subscribe to his newsletter, he knows his stuff when it comes to resource stocks.
Among others, Mike is currenlty recommending a company named Wealth Minerals (currently trading well over $1.50). In one of his most recent newsletters (from July 14th) he talks about Wealth Mineral's
most recent move into Argentina in the search for Uranium in the
Patagoinia region, in Chubut province. Schaefer states the following:

"Wealth Minerals WML-TSX. V released news regarding a major uranium exploration land position in Argentina. The company has acquired roughly 500,000 acres of prime uranium exploration ground.

Known uranium occurrences exist on all of the properties Wealth has acquired.

Argentina is virgin territory with vast exploration potential. Very little uranium exploration has ever occurred in this large country.

The uranium exploration that did take place more than 30 years ago was conducted by the National Commission of Atomic Energy of Argentina. There has been no exploration employing modern exploration techniques.

As many of you already know Uranium prices have skyrocketed over the past couple of years. And most analysts expect prices to stay high for the next 10 years.

Argentina offers one of the last untapped and under-explored regions in the world. Wealth Minerals, in my opinion, has achieved something of a coup in acquiring such a large land position with so many uranium showings."

I have to totally agree with Schaefer on this one, however, Wealth is way too late to the game in Patagonia, PACIFIC BAY has been working in Patagonia for 2 years, has close to 300 square miles of PRIME property, some of which is located on the same trend as the Cerro Solo Uranium deposit (10 million pounds), AND THEY HAVE A SIGNIFIGANT U308 SHOWING ON THEIR REGALO PROPERTY ALREADY, AND HAVE THE CONTACTS WITH THE LOCAL GOV, THAT ARE NEED TO MOVE TO THE NEXT LEVEL.Check out the picutres here:
http://www.pacificbayminerals.com/cerro-solo.shtml


The management that has serious experience in Argentina.

[december]

They are getting some advice from IMA and will be making progress in the near futur for a JV partner.

[Ed Monton]

How come they haven't been able to joint venture the uranium property yet ? Have you spoken to the company ?

[december]

Consolidated Pacific Bay Minerals (CBP - TSXV)

Pacific Bay is a publicly traded company on the TSX Venture Exchange, symbol "CBP". Pacific Bay is a junior exploration company, focused on exploring for uranium and gold in Argentina. The Company's Cerro Solo Uranium project and the Regalo Gold Project are located in the highly prospective Patagonia region of Chubut province. (18.6 million shares out, $0.11 current stock price)

Cerro Solo Uranium Project:
Pacific Bay has discovered several uranium showings on the Regalo property and in late June, announced an outcrop sample assaying 205 ppm uranium. This finding has prompted Pacific Bay to acquire additional claims to expand the Regalo property to protect all of its current uranium showings. The expanded Regalo Project (372 square kilometers) lies just to the north and west of the Cerro Solo uranium mine (estimated to hold 10.3 million pounds of uranium) in central Patagonia which is the subject of increasing international interest.
Pacific Bay has also filed for three exploration permits totalling 300 square kilometres based on favourable geology and proximity to the Cerro Solo, Cerro Condor and Los Adobes uranium deposits. Investors can expect various announcements as this new uranium play unfolds.


Regalo Gold Project:
The Regalo property has extensive gold (up to 1 gram gold) in dry-wash stream sediments and soils throughout the property. The company has recently completed first phase trenching of the Regalo and in the process outlined 4 new zones within the Regalo to focus on. The objective of the first phase was to conduct grid soil sampling, back hoe trench and define potential target zones that can be drilled in 2005. PacBay geologist think that the model for the Regalo gold mineralization may be an entirely new style of gold mineralization for central Patagonia, with the large size potential typical of sediment-hosted gold deposits, similar to Nevada.

In early March, at the Toronto PDAC, a well respected newsletter writer, Jim Steel of Mining Insights.com became familiar with the Regalo project and introduced Pacific Bay to his paid subscribers as "An intriguing Long Term Value Story".

Key Points:
-Well positioned in the Cerro Solo Basin Uranium play
-Uranium showings on Regalo property, now expanded
-Extensive and intensive gold anomalies throughout the property
-Large, complex epithermal alteration zones that are favorable for gold mineralization -Similar to Nevada, USA
-Unexplored new area of Argentina
-Partners with IMA Exploration who have extensive knowledge of this area and great success.

For further information and head to our website at http://www.pacificbayminerals.com

[Ed Monton]

Exeter Intersects High Grade Gold in New Vein System at La Cabeza

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 22, 2005) - Exeter Resource Corporation (TSX VENTURE:XRC)(FWB:EXB) reports that it has intersected several intervals of high-grade gold in a new vein system discovered in the Cuello West area of its La Cabeza gold project, in Mendoza Province, Argentina.

The discovery was made in the course of previously-announced resource expansion drilling at La Cabeza. Discovery hole LCP-169 intersected three mineralized zones: 3 metres at a grade of 7.8 g/t gold, from 34 metres; 3 metres at a grade of 2.0 g/t gold, from 52 metres; and 6 metres at a grade of 15.5 g/t gold, from 67 metres.

The Cuello West veins fall within preliminary designs for a Cuello open pit, in an area for which no gold resource has yet been established. Accordingly, this mineralization has the potential to increase the La Cabeza gold resource and enhance project economics, as it would replace waste rock with ore in the proposed open pit.

The new vein system is located 75 to 125 metres west of the main Cuello vein, under partial sand cover. It appears to have a minimum length of 150 metres and is open to the north, south and at depth. Additional reverse circulation percussion drilling is scheduled.

The LCP-169 assay results are preliminary and have been calculated using a 0.5 g/t gold cut-off grade. Check assays are awaited. Results for additional exploration drilling will be announced as the program proceeds.

The Cuello West discovery is a highlight from the first batch of results from the 14,000 metre (46,000 feet), three-rig drilling program currently underway. Positive results from the first phase of rotary air blast (RAB) drilling, which forms part of this program, were announced September 19, 2005.

Qualified Person

Matthew Williams, Exeter's Exploration Manager and a "qualified person" within the definition of that term in National Instrument 43-101, Standards of Disclosure for Mineral Projects, has supervised the preparation of the technical information contained in this news release.

About Exeter

Exeter is a technically-advanced, Canadian gold exploration company, focused on the discovery of epithermal gold/silver projects in Argentina and Chile. The La Cabeza project is currently estimated to contain an indicated resource of 390,000 ounces of gold and an inferred resource of 500,000 ounces of gold, as announced July 27, 2005. The current, three-rig resource expansion and up-grade drilling program at La Cabeza is a key component of project development activities, which include engineering, metallurgical, hydrological, and environmental studies.

In the prospective, Patagonia region of Argentina, Exeter has a strategic partnership with Cerro Vanguardia S.A, an AngloGold Ashanti subsidiary. The agreement provides Exeter with an option over 25 epithermal gold-silver properties.

In southern Chile, Exeter has a strategic agreement with Rio Tinto Mining and Exploration Limited over epithermal gold prospects within an 800 square kilometre area. Prospecting of epithermal gold targets is currently underway.

You are invited to visit the Exeter web site at www.exeterresource.com.

EXETER RESOURCE CORPORATION

Bryce Roxburgh, President

Cautionary Note to U.S. Investors - The United States Securities and Exchange Commission ("SEC") permits mining companies in their filings with the SEC to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms in this news release, such as "inferred resource", that the SEC guidelines strictly prohibit us from including in our filing with the SEC. U.S. investors are urged to consider closely the disclosure contained in our Form 20-F Registration Statement, File No. 000-51016. You can review and obtain copies of our filings from the SEC's website at www.sec.gov/edgar.shtml.

Safe Harbour Statement - This news release may contain certain "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. These statements reflect our current belief and are based upon currently available information. Actual results could differ materially from those described in this news release as a result of numerous factors, some of which are outside of the control of Exeter.

[Tackler]

Nice slice... Minera Andes cuts 158 g/t Au, 10,819 g/t Ag at San Jose

2005-09-22 16:27 ET - News Release

Mr. Allen Ambrose reports

MINERA ANDES SAN JOSE PROJECT DISCOVERS THREE NEW GOLD/SILVER VEINS WITH UP TO 1.7 METERS OF 158 G/T GOLD AND 10,819 G/T SILVER

Minera Andes Inc. has provided results of an exploration core drilling program at its San Jose project in southern Argentina where three new areas of high-grade gold-silver mineralization have been discovered. Thirty-eight holes totalling 8,996 metres explored several areas and identified over two kilometres of new and still open-ended mineralized vein trend, in addition to the 2.2 km of separate vein trend hosting the deposits of the original Huevos Verde discoveries.

High-grade gold and silver mineralization was discovered in this drilling campaign on trend of the Frea vein and at the Odin and Frea satellite targets (see table below). The highest-grade intercept drilled in this drilling campaign is 158 grams per tonne (g/t) (5.07 ounces per gold and 10,819 g/t (348 ounces per ton) silver intersected over 1.72 metres in the Frea satellite vein in drill hole SJD-208. This interval is part of a broader intercept of 13.26 metres averaging 21.31 g/t (0.69 ounce per ton) gold and 1,579 g/t (51 ounces per ton) silver. Other highlights include 1.0 metre of 16.49 g/t (0.53 ounce per ton) gold and 281 g/t (nine ounces per ton) silver (SJD-188) drilled at the Frea vein. The Odin vein drilling intersected values up to 1.0 metre of 13.46 g/t (0.43 ounce per ton) gold and 928 g/t (30 ounces per ton) silver (SJ-209) which is part of a larger interval running 2.53 metres of 6.58 g/t (0.21 ounce per ton) gold and 445 (14 ounces per ton) g/t silver. At Huevos Verdes North a similar hanging wall vein in hole SJD-181 assayed 5.65 g/t gold and 69 g/t silver over 1.90 metres.

Odin vein

The new discovery of mineralization at Odin also reveals the mining-district-scale potential of the project. At Odin, six holes define an area approximately 1,100 metres along the vein to a depth of 180 metres. Highlights of the program included the identification of massive and banded quartz veining with disseminated pyrite and argillic alteration at the Odin target returning up to 1.3 metres of 12 g/t gold and 1,300 g/t silver. The new vein discovery is totally open along strike and to depth.

Frea vein

Exploration drilling at the original Frea vein (previously called Huevos Verdes East) has extended known mineralization by 200 metres to the northwest. Frea vein mineralization now extends for 700 metres of strike and it continues to remain open to further expansion to the northwest and to depth.

Frea satellite vein

The Frea satellite appears to be a close parallel vein structure that dips in the opposite direction to Odin vein. Drilling has defined an area along a strike of 700 metres and to a depth of 150 metres. This preliminary drilling again reveals the excellent potential within the project area to delineate an area of significant mineralization, with one intersection returning 13.2 metres of 21.3 g/t gold and 1,580 g/t silver.

[Tackler]

Whatz up? Are they drilling?

[Ed Monton]

Nice bounce.

[Ed Monton]

MPM

[Ed Monton]

Maple acquires 15 Sierra Pintada exploration permits


2005-08-29 07:14 ET - News Release

Mr. Gino Falzone reports

ACQUISITION OF SIERRA PINTADA DISTRICT URANIUM PROJECT, MENDOZA PROVINCE, ARGENTINA

Highlights:


Maple has acquired 956 square kilometres of prospective ground in the Sierra Pintada uranium district, Mendoza province, Argentina.
Part of the ground covers prospective stratigraphy with radiometric anomalies immediately north of the 30-million-pound U3O8 Sierra Pintada deposit.
Maple now holds 2,783 square kilometres of ground in the two areas of Argentina acknowledged to have the best potential for uranium discoveries.

Maple Minerals Corp. has acquired 15 exploration permits (cateos), totalling 956 square kilometres, over ground with uranium discovery potential in the Sierra Pintada uranium district, 30 kilometres west of San Rafael in central Mendoza province, Argentina (refer to the attached figure). The exploration permits cover numerous radiometric anomalies detected in airborne surveys conducted in 1960 and 1968 by the Commission Nacional de Energia Atomica de Argentina (CNEA: the National Atomic Energy Commission of Argentina), and contain uranium occurrences located by that organization during its sporadic exploration activities in the area in the 1956 to mid-1980s period.

The Sierra Pintada uranium district contains widespread uranium mineralization as relatively minor veins in Carrizalito group volcanics and sediments of Triassic age and as more significant stratabound bodies within the Los Reyunos formation of the Permian Cochico group. The largest known stratabound deposit in the area is Sierra Pintada, comprising the Tigre 1 La Terraza orebodies, which was discovered by the CNEA in 1968 by drill testing of the most prominent radiometric anomaly in the district.

The economic uranium mineralization in the Sierra Pintada deposit occurs in the form of two shallow-dipping (generally 20 to 30 degrees) peneconcordant lenses within feldspathic sandstones at two separate stratigraphic levels. At a 0.04-per-cent U3O8 cut-off, the upper orebody has an average thickness of 10 metres (maximum 30 metres) and average grade of 0.12 per cent U3O8. The lower orebody, 10 to 20 metres below, averages five metres in thickness and 0.09 per cent U3O8 in grade. Uranium mineralization, consisting of pitchblende with subordinate brannerite and coffinite, occurs predominantly as disseminations and also as infillings of microfractures.

In 1968 to 1974, detailed drilling of the Sierra Pintada deposit delineated Argentina's largest known uranium resource of about 30 million pounds contained U3O8 with an average ore grade of 0.12 per cent U3O8. Over the 13-year period from 1974, a CNEA open-pit/heap-leach operation at Sierra Pintada produced about 1,600 tonnes (3.5 million pounds) of U3O8 from 2.2 million tonnes of ore at an average grade of 0.11 per cent U3O8, but in 1997 activities were suspended due to the low uranium price. Currently the CNEA is preparing for the resumption of mining and processing at Sierra Pintada in 2006.

As shown in the attached figure, one of Maple's exploration permits covers prospective stratigraphy with untested radiometric anomalies adjacent to, and north of, CNEA's claims over the Sierra Pintada resource. The other exploration permits cover uranium targets selected by Maple on the basis of radiometric anomalies, uranium occurrences and prospective stratigraphy. As the bulk of CNEA's exploration of the district was focused on the Sierra Pintada deposit and its immediate environs, Maple's main targets were either untested or inadequately investigated in the CNEA programs.

Maple's activities in the Sierra Pintada district are being conducted by Hugo Bastias, branch manager of the company's subsidiary in Argentina, Maple Minerals Exploration and Development Inc., and by its geological consultant, Alberto Belluco. Mr. Belluco is a uranium specialist with 40 years of exploration and project evaluation experience with the CNEA in Argentina, and with the International Atomic Energy Commission in Peru, Chile, Ecuador, Colombia, Bolivia and Uruguay. With the CNEA, Mr. Belluco was responsible for the exploration and evaluation of Argentina's uranium resources and played a major role in the organization's exploration of the Sierra Pintada district. Mr. Belluco consults on uranium on an exclusive basis to Maple.

With this latest ground acquisition, Maple now has tenure over the largest holding of prospective uranium ground in the two areas acknowledged by the CNEA to have the best uranium discovery potential in Argentina -- the San Jorge Gulf basin of Chubut province containing the Cerro Solo uranium deposit (Maple, 1,827 square kilometres) and the Sierra Pintada uranium district containing the Sierra Pintada deposit (Maple, 956 square kilometres).

Stewart Taylor, Maple's vice-president, international operations, is acting as the qualified person for the Sierra Pintada uranium district project.

[Ed Monton]

Geological treasure hunt:


Cons Pacific Regalo assays show Au pathfinder elements


2005-08-22 19:51 ET - News Release

Mr. Guilford Brett reports

PACIFIC BAY REPORTS ON REGALO TRENCHING RESULTS -- ANOMALOUS GOLD AND PATHFINDER ELEMENTS CONFIRMED IN ALTERED SEDIMENTS

Consolidated Pacific Bay Minerals Ltd. (PacBay) has provided results of backhoe trenching for gold on the Regalo property in central Patagonia, Argentina. While trenching was under way in the western gold anomaly areas, outcropping uranium mineralization was discovered by PacBay geologists in a classic roll-front setting on the east side of the property in the hanging wall of the major Regalo fault. This immediately led the company to stake two large claim blocks in the Cerro Solo sedimentary uranium basin play (see PacBay news releases in Stockwatch, June 21, 2005, and June 28, 2005). The current trenching on the Regalo property confirmed the widespread presence of gold pathfinder elements in relatively young, strongly tectonized and hydrothermally altered sedimentary rocks underlying the strong gold geochem anomalies. This initial work tried to locate the source of the gold.

A total of 163 rock samples were taken from 26 backhoe trenches in the gold anomaly areas. Of these, 13 rock samples had detectable gold in the six-part-per-billion-to-41-part-per-billion range, which is lower by a factor of 10 than the gold found in the strong, widespread soil anomalies on the Regalo property. The trenching phase has established the existence of an anomalous arsenic, molybdenum, vanadium and zinc pathfinder signature in porous, permeable sandstones and conglomerates with strong quartz-hematite alteration, together with anomalous gold values well above normal.

As in many sediment-hosted gold districts, anomalous gold above detection limits has been found in diverse rock types including silicified limestones (jasperoids) and soft, tectonized mudstones, but the best trace gold mineralization so far has been found in some of the youngest sedimentary rocks in the area, which are late Cretaceous in age. These sandstones and pebble conglomerates have been strongly tectonized, and it is precisely these zones of rotated blocks hosting strong silica, hematite-goethite and manganese that provided the most promise. Trenching in these areas in the Discovery and Sapo Mesa zones found altered sandstone blocks bordered by quaternary surface deposits, which often consisted of well-sorted sands derived directly from the adjacent altered sandstones. These sands carry strongly anomalous gold as tiny particles from 70 microns to 120 microns in size which can be seen in the gold pan. Plans are to trace these gold sources back into the higher terrain along the major northwest-trending Regalo fault, where additional staking has covered the fault trace to the north and east based on new anomalous gold sample results from surface sampling on the Regalo III cateo.

At South Yastekt, the very strong, square-kilometre-scale surface gold anomaly in soils which averaged almost 300 ppb gold (Au) may be coming from the weathering of a hydrothermally altered, pebble and cobble conglomerate unit of Cretaceous age overlying Upper Jurassic sediments across a slight angular unconformity. This bed was found in place by following up arsenic anomalies from shallow hand-dug trenches. The conglomerate layer is a few metres thick with a heavily iron oxide stained matrix, and rock samples had geochemically anomalous arsenic, vanadium and gold.

The next step in the search for economic gold mineralization at Regalo will focus on the complex structural geology of the area to develop drill targets deeper down in the major structures where fracturing of host sedimentary rocks may have created traps for circulating gold-bearing hydrothermal fluids to deposit gold. The Regalo system with its Jurassic limestones and calcareous siltstones may be analogous to very low temperature, distal hydrothermal gold deposits such as Barney's Canyon in Utah which is believed to be related to the paleothermal anomaly caused by the Bingham Canyon porphyry stock. Possible Barney's Canyon-type distal hydrothermal gold deposits in Argentina are at Hualilan and Gualcamayo in San Juan province where low-temperature hydrothermal gold mineralization occurs in structural zones distal to, and physically separate from, higher temperature skarn mineralization. The Regalo gold property remains an exciting epithermal gold prospect, with large-tonnage potential.

Dr. Richard Culbert, PEng, a qualified person under National Instrument 43-101, conducted most of the recent surface and shallow test pit sampling of the Regalo claim block and has reviewed and approved of the technical content of this news release. George Sanders, MSc, PGeo, also a qualified person under National Instrument 43-101, conducted the trenching phase of the Regalo project.

[4x4]

TNR Gold closes $850,000 equity financing


2005-08-18 12:37 ET - News Release

Mr. Gary Schellenberg reports

$850,000 NON-BROKERED FINANCING CLOSED

TNR Gold Corp. has closed its private placement originally announced in Stockwatch on July 20, 2005.

A total of 4.25 million units at 20 cents per unit were placed for gross proceeds of $850,000. Each unit comprises one common share and one-half share purchase warrant, exercisable for a period of two years at a price of 20 cents per share during the first year of the warrant term and 25 cents per share during the second year of the warrant term.

The securities issued under the private placements are subject to a hold period expiring on Dec. 16, 2005.

A finder's fee of 7 per cent of proceeds placed was payable in cash on a portion of the private placement.

Proceeds from the placement will be used to increase the Shotgun project exploration budget for this season and allow exploration and diamond drilling to continue through to the end of the summer. In addition, some of the proceeds have been allocated to continuing exploration projects on the company's Argentina properties as well to general corporate purposes.

We seek Safe Harbor.

[Ed Monton]

Exeter Advances La Cabeza Resources Expansion Drilling

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 17, 2005) - Exeter Resource Corporation (TSX VENTURE:XRC)(FWB:EXB) reports that it has now completed a total of 1100 metres of reverse circulation ("RC") and diamond drilling at its La Cabeza gold project in Mendoza Province, Argentina. As announced June 30, 2005, the program is designed to up-grade the existing gold resources at La Cabeza and to expand those resources by testing new targets and extensions to known mineralization.

Exeter Chairman, Yale Simpson, commented, "This is an exciting program for Exeter. I am confident that new discoveries will result from this, our first comprehensive exploration program for new deposits at La Cabeza."

Drill targets are being located using a new exploration model, developed earlier this year by Exeter's geoscientists, based on previous detailed surface mapping, and more than 20,000 meters of drilling and 2000 metres of channel sampling, at La Cabeza. To further assist in defining new ore bodies, Exeter then engaged an international structural geologist, Dr. Timothy Coughlin, of Holcombe, Coughlin & Associates, an expert in epithermal gold deposits in South America. Dr. Coughlin has identified eight new targets at La Cabeza, under sand cover but in relatively close proximity to existing ore grade mineralization.

La Cabeza has an existing indicated gold resource of 390,000 ounces (6.2 million tones at an average grade of 2 grams per tonne ("gpt"), using a 0.5 gpt cut off) and an additional, inferred, resource of 500,000 ounces of gold (12.1 million tonnes at an average grade of 1.3 gpt gold, using a 0.5 g/t gold cutoff).

The current drill program includes a minimum of 55 holes, for 5200 metres of diamond and RC drilling to bring a large proportion of the existing inferred resource into the indicated resource category. An additional 50 holes, for 3000 metres, will be drilled to test new targets generated by the company's structural studies and by the recent discovery of gold veins trending sub-parallel to known resources. It is expected that the size of the program will expand significantly as new targets are generated.

Qualified Person

Matthew Williams, Exeter's Exploration Manager and a "qualified person" within the definition of that term in National Instrument 43-101, Standards of Disclosure for Mineral Projects, has supervised the preparation of the technical information contained in this news release.

About Exeter

Exeter is a technically-advanced Canadian exploration company, focused on the discovery of epithermal gold/silver and porphyry copper/gold projects in Argentina and Chile. The exploration drilling program described above will be complemented by engineering, metallurgical, hydrological, environmental and continuing economic evaluations.

In the prospective Patagonia region of Argentina, Exeter has a strategic partnership with Cerro Vanguardia S.A, an AngloGold Ashanti subsidiary. The agreement provides Exeter with an option over 25 epithermal gold-silver properties.

In Patagonian Chile, Exeter has a strategic agreement with Rio Tinto Mining and Exploration Limited over epithermal gold prospects in an 800 square kilometer area. Prospecting of epithermal gold targets is currently underway.

You are invited to visit the Exeter web site at www.exeterresource.com.

Note to U.S. Investors - The United States Securities and Exchange Commission ("SEC") permits mining companies in their filings with the SEC to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms in this news release, such as "inferred resource", that the SEC guidelines strictly prohibit us from including in our filing with the SEC. U.S. investors are urged to consider closely the disclosure contained in our Form 20-F Registration Statement, File No. 000-51016. You can review and obtain copies of our filings from the SEC's website at www.sec.gov/edgar.shtml.

Safe Harbour Statement - This news release may contain certain "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. These statements reflect our current belief and are based upon currently available information. Actual results could differ materially from those described in this news release as a result of numerous factors, some of which are outside of the control of the Exeter.


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

[Ed Monton]

Marifil finds new epithermal veins at Argentine site


2005-08-15 09:06 ET - News Release

Mr. John Hite reports

MARIFIL MINES FINDS MORE MINERALIZATION AT TORUEL

Continuing exploration at Marifil Mines Ltd.'s high-grade silver/copper property in Rio Negro province, Argentina, reveals six new precious metal epithermal veins. Initial surface samples show they contain strongly anomalous amounts of gold, silver and base metals.

The newly discovered Avispa vein, which strikes obliquely toward the Toruel vein, ranges from two metres to four metres wide and has a strike length in excess of 400 metres. A suite of 19 outcrop chip samples contain anomalous amounts of gold, silver, lead and molybdenum along with the volatile elements arsenic, bismuth, mercury, antimony and tellurium. Gold values average 2.3 grams per tonne and reach a maximum of 7.9 g/t; and silver values average 182 g/t and reach a maximum of 693 g/t.

The southernmost outcrop of the Avispa vein is located about 200 metres northeast of DH-24 (see news as reported in Stockwatch July 20, 2005). The strike of this vein projects to hit the Toruel vein between DH-24 and DH-28. DH-24 hit 5.0 metres grading 5.11 per cent copper within an 8.8-metre interval grading 624 g/t silver equivalent (gold plus silver). Marifil has targeted a drill test of this projected vein intersection for possible existence of a high-grade ore shoot.

The second newly discovered vein, named Mancha Blanca, strikes subparallel to and is about 1,500 metres southwest of the Toruel vein. It has been traced for more than 600 metres along strike and remains open-ended. Where exposed, vein widths exceed two metres. The company is awaiting assays on this vein.

Four other, newly discovered veins near and subparallel to the Mancha Blanca vein have indicated strike lengths up to 1,800 metres as traced in float and suboutcrops. Company geologists report mineralization comprises quartz veins and hydrothermal breccias with multistage silica veining plus barite. The samples show favourable epithermal textures including limonite after sulphides. Assays are in progress.

John Hite, president of Marifil, remarked: "This is an exciting property. The more we look, the more we find -- as evidenced by the new mineralized veins. It appears we are dealing with a large system of veins and not a single vein target as first thought. All of the veins lie within a north-northeast-striking shear zone at least 900 metres wide and more than five kilometres long. Someone recently remarked that big targets are found on big structures and we are certainly working on a big structure."

A mechanized trenching program is being mobilized to better examine the newly discovered veins. A second phase of drilling will be carried out on the Toruel vein as well as the new discoveries as soon as possible.

In other news, the company reported in Stockwatch July 22, 2005, it granted 150,000 stock options to Michael Sweatman, newly appointed chief financial officer of the company. The stock options are exercisable for a period of five years at a price of 20 cents per share.

This press release has been reviewed and approved by Mr. Hite and by Richard Walters, executive vice-president of Marifil. Both are qualified persons, as defined by National Instrument 43-101, under whose direction the exploration programs are being carried out.

[Tackler]

Palladon options AFRI property near Taca Taca

2005-08-08 19:13 ET - News Release

Mr. George Young reports

PALLADON VENTURES LTD OPTIONS ARGENTINE GOLD EXPLORATION PROJECTS

Palladon Ventures Ltd., subject to TSX Venture Exchange approval, has entered into an option agreement pursuant to which it may earn a 60-per-cent interest in certain gold exploration projects covering a total of 3,000 hectares in the province of Salta, Argentina, from a private corporation. The projects are adjacent to and surround the eastern portion of the Taca Taca claims that Palladon had previously acquired an interest in.

The consideration for the option consists of a total of 50,000 common shares of Palladon to be issued to Argentine Frontier Resources Inc. (AFRI) by Sept. 15, 2005 and the option to issue up to a further 700,000 shares in periodic issuances to Dec. 8, 2008, in the event that Palladon elects to continue to exercise its option. In addition, Palladon must incur exploration expenses on the properties of $150,000 and make a payment of $75,000 to AFRI by Dec. 8, 2005. Palladon thereafter has periodic exploration expenditure requirements totalling an additional $1.35-million to Dec. 8, 2008, and additional payments totalling $325,000 to Dec. 8, 2008, should it elect to proceed with earning its interest in the properties.

Palladon president George Young said: "These new projects add further excellent Argentine gold prospects to our outstanding gold exploration portfolio in Argentina and complement our Utah copper and iron projects. Palladon has continued to acquire and augment a world-class exploration portfolio on both continents."

[Ed Monton]

Wealth Minerals Provides Information on Prospects in Salta, NW Argentina; Launches New Web Site: www.wealthminerals.com

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 4, 2005) - Wealth Minerals Ltd. (the "Company" or "Wealth") - (TSX VENTURE:WML)(OTCBB:WMLLF)(FWB:EJZ), is pleased to release additional descriptions of the largest properties located in the province of Salta, acquired through the purchase of Madero Minerals S.A. (news release dated July 12, 2005). The properties are part of a larger package of highly prospective uranium concessions assembled by the Company in northwest Argentina.

In southern Salta province, Wealth's three large properties, Amblayo, Las Conchas and Alemania, cover an aggregate area of 90,000 Ha and are located within 100 km of each other. The properties cover portions of a geological package of sandstones which can be traced for tens of kilometres. Within this package there are a number of favourable horizons which contain multiple uranium occurrences and have the potential for the discovery of additional uranium mineralization.

These locally high grade, stratabound, sandstone hosted, uranium showings in southern Salta are found in a setting which is similar to the Colorado Plateau District of the western United States. Since the 1940's, a large number of producing mines in the Colorado - Utah area intermittently produced some 300,000 tonnes of uranium oxide.

Wealth's largest property in Salta, Amblayo (50,000 Ha), hosts at least three and up to five mineralized horizons within a thickness of 20-25 metres. Grab samples by previous workers reportedly assayed up to 2.8% uranium. The formerly producing Don Otto Uranium Mine (produced 88,000 lbs Uranium Oxide /annum 1964-1981) owned by Commission Nacional de Energia Atomica de Argentina (CNEA), lies within the large Amblayo concession area.

Field work is expected to begin with geological mapping in mid September 2005. The Amblayo property will be the first area to be evaluated. The Company anticipates acquiring additional uranium properties and looks forward to announcing such acquisitions in a timely manner.

Argentina is home to Latin America's most advanced nuclear energy program. Two nuclear plants are operational while a 3rd is near completion. The two plants supply about 9% of the country's electricity. The Company believes that Argentina, which has had a number of producing uranium mines, including the Dr. Baulies Mine in Mendoza, the Don Otto Mine in Salta and the Sierra Pintada/San Rafael Mine in Mendoza, has been relatively under-explored for uranium in recent years and represents a promising area for new discoveries. An example of the potential target Wealth seeks is the Cerro Solo uranium deposit located in Chubut province, Argentina. This deposit which is owned by CNEA has been the subject of a prefeasibility study which concluded that it is economically viable based on mineable reserves at an average grade of 0.3% U3O8 containing a recoverable uranium oxide content of 10.3 million pounds.

Wealth Minerals Ltd. is a mineral exploration company with 12.3 million shares outstanding, approximately Cdn$3.0 million in treasury and listings on the TSX Venture Exchange, OTCBB and Frankfurt Exchanges.

On Behalf of the Board of Directors of

WEALTH MINERALS LTD.

Jerry Pogue, Director

This release contains forward-looking statements within the meaning of the "safe harbour" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The Company assumes no obligation to update any forward-looking information contained in this news release.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release, which has been prepared by management.

[4x4]

News on TNR....

not exactly what most are expecting, but maybe this is the start of the news releases....


TNR, Geocom amend Iliamna agreement for joint venture


2005-08-02 13:23 ET - News Release

Mr. Gary Schellenberg reports

TNR AND GEOCOM AMEND ILIAMNA AGREEMENT

TNR Gold Corp. has amended the option agreement with Geocom Resources Inc. regarding the Iliamna project, Alaska.

Having earned their interest at the H claims and provided notice of such to BHP Billiton, TNR and Geocom are in the process of establishing a formal joint venture to govern the continued exploration of the H claims. TNR and Geocom further agreed to amend the option agreement regarding exploration to provide for the establishment of a joint venture on the D claims as well. Geocom has agreed to reduce its potential earned property interest from 41.25 per cent to 38.25 per cent resulting in TNR's interest increasing to 31.75 per cent on the D claims.

TNR and Geocom will jointly finance this year's drilling program on the D claims on a pro rata basis of 49 per cent and 51 per cent, respectively

[4x4]

Probably their drilling on their shotgun property

1 mill. ounces to be proved up... plus potential to expand that number....IMHO...

4x4

[Ed Monton]

Ya, nice looking chart. What's moving it ?

[4x4]

V.TNR doing nicely....increased volume today...

4x4

[Tackler]

Being put to the test now.

[Ed Monton]

CBR

[Tackler]

Double bottom too...

[Ed Monton]

Wow. That ones really come down. I didn't realize they do the tango.

[Tackler]

CBR...

[Ed Monton]

I don't know. This is exploration up north so it could be the Alaska property as well. I believe the large cross was a sell by someone inside the company who wanted to take down part of the private placement.

[4x4]

TNR has had some action the last couple of days....Do you think it has anything to do with their JV partner TNK (it has been on a tear)....???

4x4

[Tackler]

Pro poster on board too?...

Marifil Mines names Sweatman as CFO

2005-06-27 08:22 ET - News Release

Mr. John Hite reports

MARIFIL MINES APPOINTS NEW CFO

Michael D. Sweatman has been appointed as Marifil Mines Ltd.'s chief financial officer.

Mr. Sweatman is a chartered accountant and has his own accounting firm, MDS Management Ltd. He has also held a number of important senior positions including CFO of Yukon Energy Ltd., where he later became president. Formerly a chartered accountant with Arthur Andersen, Mr. Sweatman is currently a director of several junior listed companies.

Mr. Sweatman will bill his services to the company on an hourly rate. Following the next board meeting the company will be granting options to Mr. Sweatman to purchase common shares in the capital of the company.

Mr. Sweatman replaces Becky Corigliano who has accepted a position with another company. The company wishes to thank Ms. Corigliano for her efforts on Marifil's behalf and it wishes her well in her new position.

[Ed Monton]

Marifil hires Bastias as consultant


2005-07-21 09:45 ET - News Release

Mr. John Hite reports

MARIFIL ADDS MINING CONSULTANT DR. HUGO BASTIAS

Marifil Mines Ltd. has entered into a contract, through its wholly owned subsidiary Marifil S.A., with Dr. Hugo Bastias wherein Dr. Bastias will provide consulting services to the company. The company will pay Dr. Bastias a consulting fee of $200 (U.S.) per day with a minimum of 15 days per month and will issue a bonus of 100,000 common shares to Dr. Bastias. The agreement is subject to TSX Venture Exchange approval.

Dr. Bastias is a prominent consulting geologist in Argentina and has worked for a number of companies including Falconbridge Ltd. where he participated in developing the large Pachon porphyry copper deposit. He was also an exploration manager for Argentina Gold Corp. and was involved in the initial exploration work on the world-class Veladero gold deposit. Most recently Dr. Bastias was business manager for MIM from 1992 to 2003.

[Ed Monton]

Marifil cuts 964 g/t Ag, 3.71% Cu over five m at Toruel


2005-07-20 10:09 ET - News Release

Mr. John Hite reports

MARIFIL DRILLS HIGH GRADE SILVER & COPPER AT TORUEL

Marifil Mines Ltd. has released additional assay results received from the company's 30-hole, 2,270-metre diamond drill hole program (see news in Stockwatch on July 6, 2005) on its wholly owned Toruel property in Rio Negro province, Argentina. Six contiguous holes contain encouraging intercepts of silver and/or copper along a 500-metre strike length of an epithermally mineralized hydrothermal breccia that is open to the west and at depth.

The best intercept is in DH-24, which cut five metres grading 964 grams per tonne (g/t) silver and 3.71 per cent copper. This intercept includes 2.8 metres grading 495 g/t silver and 5.80 per cent copper followed by 2.2 metres grading 1,561 g/t silver and 1.05 per cent copper. The results of these holes are summarized in the following table.

 
  
 Hole   From  To   Int.  Au   Ag     Cu 
  No.    m     m    m    g/t  g/t    % 
  
 DH-1  44.80 47.20 2.40 0.94 1,187  1.63 
 Incl.             1.40 1.35 1,500  2.29 
  
 DH-21 32.30 33.40 1.10 0.27   272  1.18 
 and   34.80 35.60 0.80 0.40   291  1.27 
  
 DH-23 34.90 35.80 0.90 0.08   729  1.03 
  
 DH-24 41.90 46.90 5.00 0.98   964  3.71 
 Incl. 41.90 44.70 2.80 0.21   495  5.80 
 and 
 Incl. 44.70 46.90 2.20 1.95 1,561  1.05 
  
 DH-27 40.90 41.60 0.70 1.92   594  2.14 
  
 DH-28 48.00 50.60 2.60 1.09   616 -0.10 
  
 Hole   From  To   Int.    Pb   Zn 
  No.    m     m    m      %     % 
  
 DH-1  44.80 47.20 2.40  0.32  1.34 
 Incl.             1.40  0.37  1.68 
  
 DH-21 32.30 33.40 1.10  0.56  0.40 
 and   34.80 35.60 0.80  2.04  1.71 
  
 DH-23 34.90 35.80 0.90 -0.10  0.19 
  
 DH-24 41.90 46.90 5.00  0.13  0.22 
 Incl. 41.90 44.70 2.80  0.18  0.29 
 and 
 Incl. 44.70 46.90 2.20 -0.10  0.14 
  
 DH-27 40.90 41.60 0.70  0.08  0.26 
  
 DH-28 48.00 50.60 2.60  0.19 -0.10 
  
 

...........



All of the intercepts described in the above table are included within thicker intercepts containing lesser amounts of gold, silver, copper, lead and zinc. Closer spaced drilling will be required to determine if these intercepts, especially the bonanza grades of DH-24, represent discrete ore shoots within the well-mineralized Toruel vein system.

Drill holes DH-21 through DH-27 all lie west of DH-1, where the company's geologists believe the mineralized system has been better preserved from erosion due to postmineral down-faulting and/or westward tilting of the host volcanic sequence. The mineralized breccia is evidenced to continue for more than one kilometre westward from the westernmost drill hole (No. 29), affording a significant drill target.

Drill holes located east of DH-1 are believed to have been drilled partly into the root zone of this epithermal system. These holes generally contain higher amounts of lead and zinc and lower amounts of gold, silver and copper. Some of the better lead-zinc-bearing holes are presented in the following table.

 
  
 Hole   From  To   Int.  Au   Ag 
  No.    m     m    m    g/t  g/t 
  
 DH-2B  34.7  35.7 1.00 -0.10  16.0 
 and    45.1  47.5 2.40  0.13 267.0 
  
 DH-3   49.5  51.8 2.30  0.67 146.0 
  
 DH-8   36.0  37.4 1.40  0.21  94.0 
 Incl.             0.90  0.23 114.0 
 DH-13  32.3  34.1 1.80  0.19  31.0 
 Incl.             0.60  0.09  23.1 
  
 DH-22 111.5 113.4 1.90  0.60  33.0 
  
 DH-29  74.0  74.9 0.90  0.12 167.0 
 and    85.0  86.0 1.00  0.59  36.4 
 and    92.00 93.0 1.00  0.22  58.0 
  
 Hole   From  To   Int.   Cu    Pb   Zn 
  No.    m     m    m       %    %    % 
  
 DH-2B  34.7  35.7 1.00 -0.100 1.06 1.47 
 and    45.1  47.5 2.40  0.670 0.92 1.30 
  
 DH-3   49.5  51.8 2.30  0.105 1.43 1.51 
  
 DH-8   36.0  37.4 1.40  0.130 4.87 0.37 
 Incl.             0.90  0.110 6.04 0.45 
 DH-13  32.3  34.1 1.80 -0.100 2.56 4.47 
 Incl.             0.60 -0.100 4.19 7.49 
  
 DH-22 111.5 113.4 1.90 -0.100 1.40 2.24 
  
 DH-29  74.0  74.9 0.90  0.340 4.04 2.05 
 and    85.0  86.0 1.00 -0.100 2.42 1.10 
 and    92.00 93.0 1.00  0.120 1.02 1.29 
  
 

.......



All drill holes in the above table also contain geochemically highly anomalous amounts of molybdenum, antimony and tellurium.

All 30 drill holes are mineralized to some degree. Only weak epithermal mineralization was encountered in the 18 holes not reported on here. An additional table showing all of the results will be available shortly through the company's website.

In summary, the company believes that drilling conducted east of DH-1 entered progressively deeper portions of the epithermal system. In contrast, holes drilled west of DH-1 penetrated into the more prospective parts of this large system.

"While the results of this initial drilling program did not define an orebody, the data generated have clearly pointed us towards something very interesting in the western part of the project," said John Hite, president of Marifil. "We have encountered bonanza grades of copper and silver with some gold and the deposit appears to be open-ended both along strike to the west and at depth. We look forward to aggressively following up on this with further drilling in a few months."

Exploration of the Toruel property is continuing, with another silicified breccia zone in excess of 400-metre strike length just discovered about 500 metres north of the drilled structure.

All assaying is being done by Alex Stewart & Co. laboratory in Mendoza, Argentina. Elements other than silver and gold were analyzed by ICP at the same laboratory.

This press release has been reviewed and approved by John Hite, president of Marifil Mines Ltd., and by Richard Walters, executive vice-president of Marifil. Both are qualified persons as defined by National Instrument 43-101, under whose direction the exploration programs are being carried out.

[Ed Monton]

TNR Gold plans $850,000 private placement


2005-07-20 11:31 ET - News Release

Mr. Gary Schellenberg reports

TNR TO RAISE $850,000 TO FUND ALASKA AND ARGENTINA PROJECTS

TNR Gold Corp. has arranged a non-brokered private placement to raise $850,000. The private placement will consist of 4.25 million units priced at 20 cents per unit, each unit consisting of one share and one-half share-purchase warrant exercisable for two years (at 20 cents the first year and 25 cents the second year). TNR has notified the TSX Venture Exchange that part of this placement will involve one investor selling shares in the market in order to raise funds to participate in the placement.

{I guess that might explain the cross}

Proceeds from this private placement will be used to increase the Shotgun project exploration budget for this season and allow exploration and diamond drilling to continue through to the end of the summer. In addition, some of the proceeds have been allocated to continuing exploration projects on the company's Argentina properties as well to general corporate purposes. A 7-per-cent finder's fee is payable with respect to this transaction.

Preliminary results from this summer's exploration program have been encouraging, expanding on the previous seasons geochemical work to generate six drill targets, within a 15-kilometre radius of the known Shotgun mineralized zone. The first target being drilled is in the East Winchester area, which shows geological and geochemical characteristics of intrusion-related gold mineralization -- similar to the Shotgun mineralized zone.

Given the number of new targets and the increased exploration budget, the company is evaluating the possibility of mobilizing an additional diamond drill rig to the property.

[Ed Monton]

Portal Resources finishes 11 holes at Arroyo Verde


2005-07-20 11:56 ET - News Release

Mr. Bruce Winfield reports

PORTAL CUTS ADDITIONAL GOLD/SILVER VEINS AT ARROYO VERDE

Portal Resources Ltd. has provided more information from the continuing drill program at the Arroyo Verde gold/silver project in Chubut province, Patagonia, Argentina. A total of 11 holes have been completed in the Arroyo Verde Main dome area, six on the Principal vein, four on the Northwest vein area and one on the large covered southern part of the Main dome, 500 metres to the south of the Principal vein. Drilling will resume on July 20, 2005, after a 14-day break for the drilling crews.

Results of the first six holes on the Principal vein have been previously reported with significant intersections in five of the six holes drilled to date. Values ranged from 4.28 grams per tonne (g/t) gold equivalent over 0.80 metre in hole PO40 up to 80.25 g/t gold equivalent over two metres in hole PO39 (see news in Stockwatch on July 5, 2005).

Four holes have also tested the North West vein area with assay results pending. All drill holes have intersected narrow multiphase quartz veins 0.40 to 0.75 metre in width with disseminated sulphides similar to previous high-grade surface samples and drill intersections. Several of the veins have wide quartz-sulphide crackle breccia zones in the hangingwalls of the vein intersections. Assays will be reported when received.

One hole has been completed within the large Arroyo Verde dome geophysical anomaly located 500 metres to the south of the Principal vein within the gravel-covered southern part of the dome. This anomaly, measuring 2,000 metres long by 1,000 metres wide, consists of coincident chargeability and resistivity. The first hole, drilled to a 200-metre depth, intersected highly altered rhyolite and metamorphic rock beneath 37 metres of gravel cover. A zone of quartz veining, up to 80 per cent, in silicified metamorphics was intersected from 135 to 145 metres with a massive quartz vein from 145 to 146 metres then veining up to 50 per cent from 146 metres to 158 metres (true width is approximately 70 per cent of the apparent width). Disseminated sulphides, predominantly pyrite and galena, are observed throughout the quartz vein and zones of veining. Assay results of the vein intersections will be reported when received.

"We are very encouraged by the new vein area discovered in the South dome as it greatly expands the potential of the Arroyo Verde project. Undoubtedly more will be found as we explore these large geophysical anomalies for the first time. Drilling continues," stated David Hottman, chairman.

Samples for analysis are collected from the site by Alex Stewart Argentina SA, a subsidiary of the international laboratory Alex Stewart (Assayers) Ltd., and transported to its laboratory in Mendoza. Samples are analyzed by fire assay for gold and silver. All work on the project is under the direction of Gary Nordin, PGeo, British Columbia, the designated qualified person for the Arroyo Verde project in accordance with National Instrument 43-101.

[Ed Monton]

Amera hunting turf in the Americas


2005-07-15 14:57 ET - News Release

Mr. Nikolaos Cacos reports

AMERA EXPLORATION OVERVIEW

Amera Resources Corp. has released new details concerning its projects in Peru, Argentina and Nevada. Exploration programs are currently under way in both Peru and Nevada, with results expected over the coming weeks. Through Amera's close association with the Grosso Group's network of industry contacts, Amera has grown its property portfolio to over 450 square kilometres in three countries over the past two years.

In each country of operation -- Peru, Argentina and Nevada -- the company's management has established strong personal and business relationships that provide superior access to exploration projects. Amera is focused on continued exploration of its properties and conducting a continuing review of new projects to add to its portfolio. Below is a brief overview of the company's network of contacts and continuing exploration activities.

Peru

Amera's network in Peru is a result of management's experience in that country for over a decade. The company's contact base in Peru exists at all levels of business and government. Numerous new opportunities and exploration projects are submitted to Amera's exploration team to review. The Grosso Group's network and business experience in Peru have made exploration in the country a top priority for Amera.

A 30-person exploration team is currently on the company's Esperanza gold project in Arequipa, Peru, where six gold targets have been identified to date, including an epithermal alteration zone with anomalous gold extending for more than one kilometre along an incised river valley and occurring over a minimum of 150 metres of vertical thickness.

Also continuing in Peru, Amera has optioned the 800-hectare Cruz de Mayo project in the southern Cuzco department, and has staked an additional 2,200 hectares in the area surrounding the western and northern sides of the property. A total of 52 rock samples, including both chip samples and grab samples, have been collected on the project to date. Assays range from below detection levels up to 14.4 grams per tonne gold from a one-metre chip sample and average 800 parts per billion gold. Dr. David Terry, PGeo, vice-president, exploration, is Amera's qualified person for the Cruz de Mayo property in compliance with National Instrument 43-101.

Amera has a countrywide property evaluation and project generation program through which the company will continue to expand its land package.

Nevada

Amera's entry into exploration in Nevada comes as a result of management's long association with Steve Jones, MSc, COG, a well-respected geologist with an impressive history of discoveries in Nevada. Mr. Jones was involved in the discovery of the Pipeline deposit (10 million ounces of gold) on the Battle Mountain/Eureka trend in central Nevada, and played a key role in the discoveries of the Gemfield (over one million ounces), Midway (250,000 ounces) and the Castle (200,000 ounces of gold) deposits located within the Walker Lane belt. Mr. Jones directed the regional program of mapping and sampling, which resulted in Amera's staking of the Roy and Hills gold projects that are located on the Walker Lane mineral belt. Detailed surface sampling, mapping and ground magnetics have identified drill targets on both the Roy and Hills projects. A follow-up program is currently under way to evaluate further targets in the district. On the Roy property, a gold-silver epithennal system is hosted within an alteration zone that outcrops over a 2.25-square-kilometre area. One sample of float material collected firm the central portion of the claim group assayed 41.5 grams per tonne gold (1.2 ounces per ton). Gold values from surface-rock sampling to date range between 30 and 600 parts per billion. The Hills property is located seven kilometres to the northwest of the Roy property and hosts a prospective silver-gold epithermal system within a one-kilometre-by-500-metre alteration area. Rock-chip sampling has returned values ranging from 0.2 to 70 grams per tonne silver and 0.1 to 0.2 gram per tonne gold.

Argentina

Amera's management became one of the early pioneers in Argentina in 1993 through its involvement with IMA Exploration Inc. Management has an outstanding network in that country and has made two major discoveries with IMA: the world-class 300-million-ounce Navidad silver deposit (IMA Exploration Inc.) and the 1.2-millon-ounce Gualcamayo gold deposit (in partnership with Viceroy Exploration Ltd. in 1996 to 1998). Management has also worked closely in joint venture agreements with Barrick Gold Corp. and Rio Tinto Mining.

On the Mogote project, recent drilling has confirmed the presence of a large copper-gold porphyry system on the project. Mogote demonstrates many attributes of a classic Andean-type copper-gold porphyry system and is located within a region characterized by some of the world's largest examples of copper-gold porphyry deposits and high-sulphidation epithermal gold-silver deposits.

Mogote is situated 70 kilometres north of Barrick Gold Corp.'s large Pascua/Veladero gold discoveries (resources of 38 million ounces gold and 750 million ounces silver) and 11 kilometres east of Noranda/Metallica's El Morro copper-gold discovery (inferred resources of 7.4 million ounces gold and 6.2 billion pounds copper). Placer Dome's 23-million-ounce Cerro Casale gold-copper discovery is located 50 kilometres to the north.

The company has entered into a consulting agreement whereby the consultant shall provide public relations advisory services to the company including, but not limited to, completing a comprehensive communications program to introduce the company to German-speaking financial audiences of Europe. In consideration for the services, the company will pay to Pascal Geraths Gesellschaft Fur Presse - Und Offentlichkeitsarbeit MBH company No. 26158A (owned and operated by Pascal Geraths) a fee in the amount of 7,500 euros per month and reimburse all reasonable expenses. The term of the agreement is six months commencing on July 15, 2005, subject to a 30-day termination clause by either party. This agreement is subject to regulatory approval.

Amera is leveraging its extensive contact network, is actively exploring in Argentina, Peru and Nevada, and continues to negotiate for the acquisition of additional properties in the Americas. The company also enjoys a close association with the Grosso Group, giving the company exposure to an extensive array of mineral opportunities and access to the group's global financial network. The Grosso Group has enjoyed tremendous success in the exploration field, most notably with IMA Exploration Inc., and comprises a team of seasoned professionals led by Joseph Grosso. This affiliation enables Amera to hasten its property acquisition and exploration strategies.

[Ed Monton]

AMS is flying. Whats up ?

[Ed Monton]

Exeter starts expansion drilling program at La Cabeza


2005-06-30 05:33 ET - News Release

Mr. Bryce Roxburgh reports

EXETER RESOURCE CORPORATION: LA CABEZA RESOURCE EXPANSION DRILLING UNDERWAY-NEW REPORT UPGRADES PROJECT RESOURCES

Exeter Resource Corp. has commenced an intensive program using three drill rigs to expand current gold resources at its La Cabeza gold project in Argentina.

The drilling program has three objectives: firstly to target new sites of mineralization at La Cabeza, including areas of higher-grade, near-surface mineralization that are not included in current estimates; secondly, to drill in-fill holes within the known resource to increase the confidence level of the deposit; and thirdly, and importantly, to drill for new deposits under areas of extensive sand cover adjacent to known mineralization.

Upgraded resource estimate

Separately, Exeter has now received a new independent estimate of gold resources at La Cabeza. The report follows the company's recent announcement of an approximately 25-per-cent increase in the inferred resources at La Cabeza, to 890,000 ounces (see news issued in Stockwatch on May 17, 2005), and concludes that a portion of those resources may be upgraded to the indicated category.

The new independent report now estimates an indicated resource at La Cabeza of 390,000 ounces of gold (6.2 million tones at an average grade of 2.0 grams per tonne gold) and an inferred resource of 500,000 ounces of gold (12.1 million tonnes at a grade of 1.3 grams per tonne gold), at a cut-off grade of 0.5 gram per tonne.

At a higher, 1.0-gram-per-tonne-gold cut-off grade, the indicated resource is 3.5 million tonnes at a grade of 3.0 grams per tonne gold for 330,000 ounces, and the inferred resource is 4.8 million tonnes at 2.2 grams per tonne gold for 340,000 ounces.

 
  
               LA CABEZA  
     INDICATED AND INFERRED RESOURCES 
  
 Indicated  
 (0.5-gram-tonne-gold cut-off) 
  
 Zone           Tonnes      Gold     Gold 
                             gpt       oz 
  
 Cuello      1,240,000      3.08  123,000 
 Ojo         1,740,000      2.22  124,000 
 Luna        1,870,000      1.57   94,000 
 Mandibula   1,330,000      1.16   50,000 
 Total       6,200,000      2.0   390,000 
  
 Inferred  
 (0.5-gram-tonne-gold cut-off) 
  
 Zone           Tonnes      Gold     Gold 
                             gpt       oz 
  
 Cuello      2,400,000      1.67  129,000 
 Ojo         1,530,000      0.93   46,000 
 Luna        3,620,000      1.16  135,000 
 Mandibula   3,970,000      1.03  131,000 
 Cachete       350,000      3.08   35,000 
 Labio East    100,000      4.44   14,000 
 Labio South    70,000      2.45    6,000 
 Labio West     80,000      1.67    4,000 
 Total      12,100,000      1.3   500,000 
  
 Indicated  
 (1.0-gram-tonne-gold cut-off) 
  
 Zone           Tonnes      Gold     Gold 
                             gpt       oz 
  
 Cuello        910,000      3.93  115,000 
 Ojo           910,000      3.62  106,000 
 Luna        1,120,000      2.15   77,000 
 Mandibula     530,000      1.83   31,000 
 Total       3,500,000      3.0   330,000 
  
 Inferred  
 (1.0-gram-tonne-gold cut-off) 
  
 Zone           Tonnes      Gold     Gold 
                             gpt       oz 
  
 Cuello      1,260,000      2.53  102,000 
 Ojo           380,000      1.67   20,000 
 Luna        1,270,000      2.01   82,000 
 Mandibula   1,260,000      1.76   71,000 
 Cachete       330,000      3.39   36,000 
 Labio East     90,000      4.96   14,000 
 Labio South    70,000      2.45    6,000 
 Labio West     90,000      2.04    6,000 
 Total       4,800,000      2.2   340,000 
  
  
 

...............




The revised mineral resources estimates for the Cuello, Luna, Ojo and Mandibula deposits were made by Hellman & Schofield, Sydney, Australia, using Multiple Indicator Kriging (MIK) methodology applied to the Exeter database and geological models. The models, database and supporting information were independently validated by Peter Allen of Australian Mine Design and Development (AMDAD) of Brisbane, Australia. These revised resources were estimated using an additional 67 holes, totalling 4,798 metres of drilling and 2,050 metres of sawn channel sampling, conducted in 2004 and 2005.

The Cachete prospect resource was recalculated internally by Exeter using a manual polygonal cross-sectional method of estimation. Although new three-dimensional geological models were constructed for Cachete, it was deemed inappropriate to use MIK methods at this time, due to a lack of substantial drilling density. The previous resource estimates and assumptions for the Labio East, South and West prospects have been used, because the 2004 program did no work in these project areas. These estimates will be reviewed with the benefit of results of current drilling planned for these areas.

The new resource estimates have been described in a 43-101 technical report compiled by Exeter management. The report was co-authored and prepared under the supervision of Peter Allen of AMDAD, a qualified person independent of the company under NI 43-101 of the Canadian Securities Administrators and will be filed with the Canadian regulators within the next 30 days.

AMDAD also carried out conceptual pit designs for Cuello, Luna, Ojo and Mandibula, which showed that, in addition to the indicated resource within pit perimeters, a significant proportion of the inferred resource remained within the potential open pits.

La Cabeza studies

Engineering, metallurgical and environmental studies relating to the work program completed in April will be completed to normal prefeasibility standards within a month, and relevant results will be reported as they come to hand.

The optimization of pit designs for La Cabeza and a financial analysis of the project status will be completed once the results of the current drilling program are received. With further drilling, inferred mineralization and extensions to the existing mineralized trends can be brought to account for an economic evaluation. In addition, by increasing the La Cabeza resource, there is potential for increasing the contemplated plant capacity substantially with subsequent economies of scale.

After reviewing the costs and utility of issuing an NI 43-101-compliant prefeasibility study at this time, the company's technical team has determined not to do so. This decision is consistent with recent decisions made by other Canadian resource companies, because of the reporting limitations imposed by NI 43-101. Instead, following completion of the current drilling program, a decision will be made as to whether to move directly to a definitive feasibility study.

Quality control and assurance

The new resource estimates described in this news include resources in the inferred category. NI 43-101 considers such resources to be too speculative geologically to have economic status and Exeter warns that no portion of these resources should be assumed to be upgradeable to the indicated or measured resource categories.

Peter Allen, BSc, an independent qualified person, and Matthew Williams, Exeter's exploration manager, also a qualified person within the definition of that term in NI 43-101 of the Canadian Securities Administrators, have supervised the preparation of the technical information contained in this news.

[Ed Monton]

Portal cuts 5.51 g/t Au, 151 g/t Ag over 3 m at Arroyo


2005-07-05 10:23 ET - News Release

Mr. Bruce Winfield reports

PORTAL RESOURCES CONTINUES TO INTERCEPT HIGH GRADE IN ARROYO VERDE DRILL PROGRAM

Portal Resources Ltd. has released assay results from an additional four drill holes in the Principal vein at its Arroyo Verde project in Chubut province, Patagonia, Argentina.

A total of six holes were drilled on the Principal vein, which strikes east/west and dips steeply to the south. It has been defined by surface chip and channel sampling along a strike length of 400 metres averaging 10 grams per tonne gold equivalent over an average width of two metres (silver:gold ratio 60:1). Previous reverse circulation drilling has tested the vein to a maximum depth of only 25 to 50 metres. Diamond drilling has now tested the vein system to a depth of 100 to 125 metres where it remains open to depth and is open to the east along an additional potential 300- to 400-metre strike length.

A summary of the drill hole intersections follows starting with hole PO 36 at the western end of the surface exposure of the Principal vein and moving to the east. All holes were drilled at a minus-65-degree inclination to the north.

Hole PO 36 was drilled at the western end of the Principal vein; hole PO 37 was drilled 100 metres to the east; hole PO 38* was drilled 100 metres farther to the east; hole PO 39* was drilled 65 metres to the east of hole PO 38; hole PO 40 was drilled 150 metres farther east; hole PO 41 was drilled 80 metres farther to the east where the zone remains open along a potential 300- to 400-metre strike length.

 
  
  
  
                                     Au 
 Hole From   To   Int.  Au    Ag   equiv. 
  No.   m     m     m   g/t   g/t   g/t 
  
 PO36  136 137.00 1.00 14.12   499  22.44 
  
 PO37  112 115.00 3.00  5.51   151   8.03 
 Incl. 113 115.00 2.00  7.75   215  11.34 
  
 PO38* 126 130.00 4.00  4.84   202   8.21 
  
 PO39* 108 110.00 2.00 39.79 2,727  80.25 
 Incl. 108 109.00 1.00 78.17 4,712 156.70 
  
 PO40  158 159.80 0.80  4.00    17   4.28 
  
 PO41   64  66.10 2.10  7.03    50   7.87 
 Incl.  64  65.75 1.75  8.23    55   9.16 
  
  
  
 

..............



* indicates previously announced assay data

Note that the length of the intersections listed above represent the apparent thickness of the veins as measured along the core axis. The true width of the veins is approximately 70 per cent of the apparent widths referred to above.

A total of six drill holes have now tested the Principal vein along a total strike length of 400 metres to a depth of 100 to 120 metres below surface. Portal is very encouraged by the fact that five of the six drill holes have intersected a strongly mineralized multiphase epithermal quartz vein with drill intersections of one to four metres (average 2.2 metres) grading 7.03 to 80.25 grams per tonne gold equivalent (weighted average 13 grams gold equivalent calculated cutting very high assay results to 36 grams gold equivalent).

Significantly, this strongly mineralized zone is open both along strike to the east as well as to depth. Immediately to the east of the defined 400-metre strike length, hole PO 41 intersected good grade mineralization (7.03 grams gold equivalent over 2.1 metres including 9.16 grams gold equivalent over 1.75 metres) within a zone of veining in the hangingwall of a five- to 10-metre-wide quartz hematite breccia vein indicating a possible 400-metre extension to the east of the defined mineralized system. Finally the strongly mineralized zone remains open below 100 to 120 metres vertically below surface, the deepest level of drilling to date.

The drill program is continuing with an additional four holes now completed on the North West vein area and one hole completed in the covered South Dome area. Additional results will be released on receipt of assays.

The sampling procedure is to saw the HQ core with half bagged, sealed, and stored on site for later analysis, retaining half for reference. Samples for analysis are collected from the site by Alex Stewart Argentina SA, a subsidiary of the international laboratory Alex Stewart (Assayers) Ltd., and transported to its laboratory in Mendoza. Samples are analyzed by fire assay for gold and silver, and ICP for trace elements. All work on the project is under the direction of Gary Nordin, PGeo, British Columbia, the designated qualified person for the Arroyo Verde project in accordance with National Instrument 43-101.

Portal Resources is very pleased with these initial very encouraging results of the continuing drill program which to date has outlined a strongly mineralized epithermal vein along a strike of 400 metres open on strike to the east and to depth below 120 metres associated with a highly silicified and altered rhyolite dome complex, a very favourable geological environment for hosting ore deposits.