Maiden 6.8Mt Resource at Namibian Manganese Project

Shares in Shaw River Resources Limited have risen with the Manganese explorer's announcement of a maiden Inferred Resource of 6.8 million tonnes at its 75.5 per cent-owned Otjozondu (Otjo) Manganese Project in Namibia, "putting the company on track to become a significant manganese producer bynagpur pulverisers minerals pvt ltd 2012," the company said.

The company reported that "the Inferred Resource has an average grade of 23.1 per cent manganese, which trial mining over the past 18 months has shown can produce an export-standard manganese product using a simple beneficiation process. The current resource is expected to underpin at least the first five years’ production. There is also immense potential for further growth in this resource inventory given that the maiden resource covers only 7km of the identified manganese field, which has a strike length of 144km."

Shaw River currently has an exploration target at Otjo of 35Mt - 50Mt grading 23-27 per cent manganeseϯ. Shaw River will start a feasibility study in April 2011 based on an initial production target of 250,000tpa of manganese product and include plans to ramp up production to 500,000tpa. There is significant potential for a rapid increase in resources with additional drill-defined prospects at Ouparakane (0.9km strike), Ongorussengo (2.3km strike) and East Otjozondu (1.4km strike) not yet included in the resource base.

Importantly, most of the drilling at Otjo does not extend below 85m deep, though high-grade manganese mineralisation is known to extend to depths in excess of 250m. There is also further exploration potential beyond these prospects, with the historical 33,000m of drilling (22,000m of diamond drilling and 11,000m of RC drilling) covering just 15 per cent of the 144km of mapped strike extent at the total Otjozondu Manganese Field. As a result, Shaw River has an initial exploration target at Otjo of 35Mt - 50Mt grading 23-27 per cent manganese ϯ. The resource envelopes used in this calculation were modelled by Cube Consulting using drilling data and outcrop mapping data supplied by Shaw River Resources.

Wireframe boundaries have been based on a nominal cut-off of 15%Mn. Resource Classification has been conducted by Adriaan du Toit of AEMCO PTY LTD Consultants, who has eight years experience in the Otjozondu Manganese Field. Tables 2 and 3 show the details of the information used in the estimates as well as the number of holes not yet included in resource envelopes. Shaw River will commence infill drilling in April 2011. This infill drilling is aimed at upgrading the classification of the existing resource and expanding the Inferred Resource to encompass all the currently known high-grade mineralised intersections.

“This initial Inferred Resource estimate is the first step in what will be an expedited timetable aimed at making Shaw River a significant manganese producer by next year,” Shaw River Managing Director Vincent Algar said. “The Company is being supported strongly in this process by its two major shareholders, Atlas Iron and OM Holdings, both of which have extensive experience in the production of bulk commodities.” “We are confident that the combination of the Otjo project and the support of these shareholders, among others, will see Shaw River join the very select ranks of listed manganese producers.”

Galaxy signs partnership deal with U.S. lithium battery producer

Lithium compound producer Galaxy Resources has signed a technology license agreement with US-based lithium ion battery producer K2 Energy Solutions Inc. in which K2 Energy will provide Galaxy with battery technology expertise, licensing ansolvent extraction and electrowinning machined commercial support for the construction and operation of Galaxy’s proposed Jiangsu battery manufacturing plant in China.

Galaxy Resources Managing Director, Iggy Tan, welcomed the prospect of K2 Energy as a technology partner for Galaxy’s prospective battery plant. “Ensuring that we will be able to complete construction and operation of the Jiangsu Lithium Carbonate plant in accordance with our revised timetable is our first priority, nonetheless this license agreement is important preparatory work for our proposed pipeline battery project. It is one of many important milestones that the Galaxy Board has set the Company before it approves the final battery project,” said Tan.

Tan said Galaxy will have the unrestricted and unlimited use of specific K2 Energy lithium battery technologies, valuable for the Ebike and other battery markets. Subject to Galaxy's board approving the battery project, K2’s lithium battery technology coupled with Korean state-of-the-art automated plant equipment, would help Galaxy to skip research and development and produce world-class lithium ion batteries.”

K2 Energy is a developer of large format batteries and battery systems based upon lithium iron phosphate technology. K2 Energy’s CEO, Dr. Johnnie Stoker said that it was a pleasure to be in partnership with a progressive company like Galaxy who has a very strategic ownership of the upstream lithium carbonate process and lithium resource base. “It is our belief that with our proven technology recipe and the Galaxy’s selection of Korean battery processing plant equipment will produce world class lithium batteries for any application,” said Stoker.

Semafo says strike rate doubles at new gold area in Burkina Faso

Canadian miner Semafo Inc said follow-up drilling has more than doubled the strimolybdenum beneficiation ferric chloride leachingke length of gold on its recently discovered Yaho gold zone in Burkina Faso.

The company, which operates the Mana mine in Burkina Faso, the Samira Hill mine in Niger and the Kiniero mine in Guinea, said follow-up drilling extended the strike length to about 1.5 kilometers from 600 meters, identified earlier. Semafo also said three core drill holes have been completed to characterize the nature of the mineralization, but the assay results are yet to be received. The company said it expects drilling results from its properties in Massala and Saoura areas, also in Burkina Faso, in July. Semafo said it was seeing delays in obtaining drill results as there...

IronClad shares continue to soar on back of substantial offtake agreement

IronClad Mining has made the list of top ASset up of calciam carbonate grinding millX gainers today with a share price increase of 12.2% to A$0.92.

The company has been on an upwards share price trajectory since announcing it had secured a significant offtake agreement for iron ore from its Wilcherry Hill project in South Australia early this month. The four year offtake agreement with Hong Kong-based resources industry investment group New Page Investments is for up to 50% of annual iron ore production from Wilcherry Hill. Last month IronClad secured a $6 million investment from...

Asian Mineral Resources announces appointment of GM of operations and project update

Asian Mineral Resources is pleased to announce the appointment of Simon Booth as General Manager of Operations for its Ban Phuc Nickel Project. Mr. Booth will oversee all aspects of the operations of the project, including the completion of construction, commissioning of the processing plant, and establishment and management of mining operations.tunnel sponge iron kiln process

Mr. Booth has extensive international experience in construction and operating mining operations in the Philippines, Australia, New Zealand, Guinea and Greenland. He brings over 30 years of experience with major mining groups, including Newmont, Normandy Mining, Xstrata, Rio Tinto and Crew Gold, having been involved in strategic planning, exploration, construction, and underground and surface mine operations. Mr. Booth is a Member of the Australasian Institute of Mining and Metallurgy, Australian Institute of Company Directors, Society for Mining, Metallurgy and Exploration and a former Vice President of the Northern Territory Minerals Council.

Mr. Jan Castro, Chairman of AMR, stated, "We are delighted that Simon is joining the Ban Phuc Nickel Project's management team. His operational and management experience will be extremely valuable to AMR as we continue to move to complete construction and bring the project into commercial production."

AMR is also pleased to provide the following updates on the development of the Ban Phuc Nickel Project:

Smelter feasibility study
AMR recently commissioned Runge to carry out a conceptual study for a smelting operation. The results from the study indicated that the construction of a smelter would produce attractive economics for the Ban Phuc Nickel Project. The incorporation of a smelting operation is consistent with the Government of the Socialist Republic of Vietnam's desire for more in-country processing and its national mineral resources strategy to 2020, with a vision to 2030, adopted in December 2011, where one of the key objectives is the construction of a smelter in the Son La Province. AMR has, therefore, decided to proceed with commissioning a detailed engineering and feasibility study for a smelting operation and will provide a further update once such study has been completed.

Land use rights
AMR is also pleased to announce that its subsidiary, Ban Phuc Nickel Mines, has been granted the land use rights from the People's Committee of Son La Province for areas which will house the pump stations and pipe lines to the project site and camp areas. Ban Phuc has also been granted permission by the Muong Khoa Commune to store top soils associated with the construction of the tailing storage facility, which is expected to begin later this year. The receipt of the land use rights is crucial for the advancement of the construction and also demonstrates the local government and community's continued ongoing support for the project.

Power design, supply and installation

Ban Phuc has engaged Aurecon (Vietnam) to assist with the power and electrical design work for the project site and processing plant. In addition, Son La Power Company has completed preliminary design work for the high-voltage power line and primary substation from the national power grid to the project site. Discussions with Son La Power Company for the installation works are in advance stages, with the works expected to commence in August 2012. With the installation of the high-voltage power line, the Ban Phuc Nickel Project will benefit from access to low cost hydro-electrical power from the Vietnamese power grid. AMR intends to continue maximizing the use of local content, particularly where it would result in further investment within the local community.

Macmahon wins $900m Tropicana contract

Contractor Macmahon says it has won a ten-year, $900 million mining contract at the Tropicana gold project for Anhow does an impact crusher workgloGold Ashanti and Independence Group. The mining contract includes mine planning, drill and blast, load and haul, crusher feed and other associated works.

Macmahon chief executive Nick Bowen said the contract was a significant milestone for the company and would provide a strong foundation for its surface mining business for the next decade. The contract increases the company's order book to a record $2.7 billion. Macmahon will begin mining operations in July next year after the construction of infrastructure in the first quarter of the year. "We expect to employ up to 250 people as part of the project, which will deliver excellent opportunities for growth and development of not only our people on the project, but throughout the region," Mr Bowen said. Production is expected to peak at an average of 60 million tonnes of ore and waste a year within a year of mining...

Hecla fined $318K over death of miner in Idaho

Hecla Mining has been fined $318,200 by federal regulators for the death of a worker last yballast crushing plant from indiaear in Idaho's Lucky Friday Mine.

Larry Marek died April 15, 2011, during a cave-in at the underground silver mine near Mullan, Idaho.

In a report released last year, Mine Safety and Health Administration officials called Lucky Friday managers negligent for failing to install adequate ground support and not testing the stability of the rock where the cave-in occurred. Hecla has disputed those findings.

Hecla must either pay the fines by June 19 or contest them. The company declined to say Wednesday what it planned to do.

"It's still a legal issue, and the company doesn't comment on pending legal matters," spokesman Stan Devereau said.

Hecla is based in nearby Coeur d'Alene, Idaho, and is the nation's largest primary silver producer.

Marek was crushed when his work area collapsed in what was Hecla's first fatal accident at the mine in 25 years.

It was the first of three accidents that prompted the Mine Safety and Health Administration to order the mine closed in January for some safety improvements, throwing more than 100 miners out of work. Contract miner Brandon Lloyd Gray was buried in rubble while trying to dislodge jammed rock Nov. 17, and died two days later.

In mid-December, a rock burst injured seven miners. The mine has not operated since.

Federal safety inspectors ordered the Lucky Friday Mine closed after they determined sand and concrete material that had leaked from a pipe into a mine shaft over the years needed to be removed.

The material is in the mile-deep Silver Shaft, the mine's main access shaft, and workers are essentially power washing the material from its walls.

Last month, Hecla Mining Chief Executive Officer Phil Baker said the work was progressing and that Hecla would start rehiring workers in July.

The underground Lucky Friday Mine is one of the nation's deepest, and produces silver, gold, zinc and other metals.

Zambia suspends exports of metals

Zambia’s new government has temporarily suspended metal export impact of material waste in constructionpermits ahead of the release of new guidelines, the mining ministry said in the latest move to increase transparency in Africa’s top copper producer.

Newly elected President Michael Sata has been concerned — analysts say with good reason — about copper exporters misreporting the amount of ore leaving the country, and last week said all export payments would in future be routed via the central bank. The suspension of permits is another sign that Mr Sata’s administration would act quickly on his populist campaign promises. "All current permits issued by my ministry are immediately suspended pending issuance of new guidelines by...

Rio cost pressures increase after $813m Pilbara boost

Rio said $US520m would be spent on upgradingmarble stone milling plant manufacturer the company's power and gas network and $US313m on fuel storage capacity near its Dampier port and two inland fuel distribution hubs.

"These projects provide certainty in meeting our power and fuel supply requirements, both now and into the future," Rio iron ore chief Sam Walsh said. The spend on the infrastructure appears to be more than was flagged by Rio in November last year and will probably be the forerunner to Australian dollar-led increases to Rio's $US16.2bn cost estimate to expand its Pilbara ports, railways and mines to a capacity of 333 million tonnes of iron ore a year. In November, Rio estimated it would spend $US800m on power, town and other...

Indonesian Miners Support Ban On Raw Materials Exports

Indonesian mining companies expressed their support for the government’s new regulation to ban exports of some raw materials as partcc 400 x 600 jaw crusher of the country’s plan to boost investment in the sector. “We are in agreement in implementing the rules of not exporting raw mining materials.

We support what the government is planning for this,” Olivier Bolligon, a spokesman for Weda Bay Nickel, said on Monday. Weda Bay Nickel is 10 percent owned by state-controlled gold miner Aneka Tambang (Antam) and 90 percent by French mining giant Eramet. Weda Bay Nickel plans to build a smelter plant in Halmahera, Maluku, at an estimated cost of $4.6 billion. Construction of the facility is scheduled to start in 2013 and would be built in cooperation with Mitsubishi of Japan and Antam, Bolligon said. He said the company would export processed commodities, like processed nickel used in the making of stainless steel...

India's coal shortage to deepen next year

India's coal deficit will deepen sharply next year,magnetic speparation for iron ore thicker its coal minister said on Tuesday, forcing Asia's third largest economy to import more of the fuel on which it relies.

The coal shortage will be 104 million tonnes in the next fiscal to March 2012, Sriprakash Jaiswal said, a jump of 23.8 percent from the current year's estimate. Delegates at a coal mining summit on Tuesday said difficulties over land acquisition, social and environmental hurdles and low investments would be a drag on output growth.

Vale targets China firms over mega ship standoff

Brazil's Vale has stopped hiring vessels from some Chinese shipping firms in retaliation for Beijing's efforts to keep the miner's huge ships out of the country, traders and industry sources said.

Chinese shipowners convinced Beijing in January to block the biggest dry bulk ships from entering Vale's top market due to concerns over safety and the vessels' potential impact on loss-making domestic shipping companies.

The ongoing tensions over Valemaxes, which can carry up to 400,000 tonnes of cargo, underscores how the economic interests of the world's largest consumer of commodities - China - and one of the world's largest suppliers of them - Brazil - are often at odds.

"There are indeed some business conflicts between Vale and China, and Vale indeed has halted the use of some Chinese ships," said a Chinese industry official familiar with the dispute, who did not want to be named because of the sensitivity of the matter.

A Hong-Kong based iron ore trader said Vale had stopped using Chinese iron ore carriers "about four months ago to get even with the Valemax ban by the Chinese government. Vale officials in Asia and at company headquarters in Rio de Janeiro were not immediately available for comment.

The miner's huge ships have been forced to take a more costly route to deliver iron ore to China due to Beijing's ban, opening up an iron ore transshipment hub in the Philippines' Subic Bay port in February.

At the Philippine port, Vale hires smaller cape size vessels from other ship owners via public tenders to transport the iron ore to China. Industry officials said Chinese companies, such as China Ocean Shipping Co (COSCO Group), have been excluded from participating in these tenders, industry officials said. "I hope this can be solved. All of them should look to the long term, not be emotional and should not take any actions that will violate the market principle," said Zhang Shouguo, secretary general of China Shipowners' Association. State-owned COSCO, hit hard by a severe downturn in the dry bulk freight market, has been the most vocal critic of Vale's huge ships. COSCO and others fear that the ships will be used by the miner to monopolize the lucrative iron ore trade between the two nations.

The plunge in world shipping costs has been a boon for Vale and consumers and devastating for shipowners. Since October the Baltic Capesize Index, a benchmark for the cost of shipping used to move most of the world's iron ore fell by more than half to 1,618 points. According to the index, Cape size freight rates are now only 39 percent of the average for the last 12 years. While Vale doesn't own all the ships itself and plans to sell those it owns, it helped finance them by giving Valemax owners such as Berumuda-based Berge Bulk and Korea's STX Pan Ocean Co. exclusive, long-term ore shipment contracts.

Vale sells around 40 percent of its annual iron ore output of about 300 million tonnes to China and sees the ships as the best way to compete with its main Australian rivals, BHP Billiton and Rio Tinto.

Closer to China, BHP and Rio Tinto's Australian mines have a transportation cost advantage over Vale's more-distant Brazilian ore reserves. With as much as double or more of the capacity of many older Cape-size vessels, the Valemaxes are longer and wider than three soccer or U.S. football fields laid end to end. That size provides efficiency and economies of scale that narrow Vale's transportation cost gap with Australia.

China's ship owners allege that the costs outweigh the benefits. "Vale's ships are too big and are beyond Chinese ports' capability to handle safely," Zhang said. "They should alter those ships to below 350,000 deadweight tonnes and stop building those in the pipeline. "Zhang's calls for restraint may be complicated by the fact that most of the 35 ships Vale is building or helping finance are being built in Chinese shipyards, using Chinese steel and with help from Chinese-state-backed loans.

Vale has been unwavering in its plan to flood the world's shipping market with dry bulk capacity, after it was hit by sharp spikes in global shipping rates in 2007 and 2008. At least seven of these vessels have been delivered and are in service. Vale's preferred shares, the company's most-traded class of stock, rose 0.59 percent 39.45 reais in trading in Sao Paulo. The BM&FBovespa index of the most-traded stocks on the Sao Paulo exchange rose 0.52 percent.

By Reuters

Ramelius begins mining at Mt Magnet

industrial dry wash plants for placer goldShares in Ramelius Resources fell after the gold miner revealed a $1.5 million cost blowout on its Mt Magnet gold project and production problems at its flagship Wattle Dam gold mine.

The news overshadowed the company's announcement that it had begun mining at Mt Magnet with production scheduled to begin in January. Ramelius said the cost for refurbishing the treatment plant at Mt Magnet would increase from $14 million to $15.5 million because of a decision to replace the existing cyanide facility, and additional costs of refurbishment works on items that were not accessible during the original engineering assessment. The company said the refurbishment was scheduled for completion next month. Ramelius bought the Mt Magnet gold project from...

Russia offering major iron ore license for RUB 2 billion

Interfax reported that the Russian Federal Subsurface Resources Agency is jaw crusher principle constrction working applicationoffering the license to a major iron ore field, thought to contain over RUB 6 billion of rich ore in the Belgorod region at a starting price of RUB 2.254 billion this autumn.

The deadline for applications to bid at the tender for the Chernyanskoye field is September 12. Technical and economic proposals must be submitted by October 21 and the tender results should be unveiled November 24. The field is 5 kilometers from the Chernyanka station in the Belgorod region which is home to some of Russia biggest iron ore fields. The Chernyanskoye field contains two main seams, Tsentralnaya and Perifericheskaya. Resources were appraised in keeping with the State Reserves Commission guidelines valid for 1967-1971. The field contains 170.253 million tonnes of rich ores to A+B+C1 classification and 5.966 billion tonnes C2; and off-balance C1 - 448.8 million tonnes and C2 - 28.5 million tonnes. The field's A+B+C1 quartzite ores total 1.738 billion tonnes and off-balance reserves are C1 - 449 million tonnes and C2 - 1.163 billion tonnes. The license area is...

Radar Iron up on Johnston Range potential

WA explorer Radar Iron's shares jumped afgold fine ore propertiester it said an independent review had identified an iron ore area with a target potential above five billion tonnes. The geophysical review covered the company's Johnston Range iron ore project, in central Yilgarn west of Kalgoorlie, the company said.

Perth-based geophysical consultants Resource Potentials found global target exploration potential for iron mineralisation estimated at 5.83 billion tonnes at 20-65 per cent. It also found magnetite target exploration potential of 5.34 billion tonnes at 20-45 per cent. Exploration was still in its early stages however, and the "potential quantity and grade of iron deposits reported as exploration target potential" was "conceptual", the company conceded. "There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the determination of a mineral resource," it said in a statement...

GoldFields and NUM fail to reach deal on South Deep

Gold Fields has today announced that its South Deep joint venture has entered a formal consultation process with the National Union of Mineworkers (NUM) and other affected employees who are not members of a recognised trade union through a Section 189 notice.

Management of the South Deethe procedure to start the robo sand plantp venture has been engaged in negotiations with trade unions for several months to reach an agreement on a proposed new operating model that would improve productivity and performance at the gold mine, in line with international best practice, if implemented, to the benefit of all stakeholders.

During these negotiations South Deep management made several offers to the trade unions, which included remuneration and benefit packages linked to the adoption of the new operating model.

The productivity measures that the mine is striving for will not only secure current jobs but allow the creation of an additional 400 full-time positions in the immediate short term.

This proposed new operating model defines strategic choices on labour productivity, equipment and maintenance, mine design and infrastructure.

To implement this model, there are six changes that will benefit employees, which include the following:
• Changing of shift arrangements to allow for 3.5 hours more face time a day to achieve improved production results and provide employees with 43 more days off per year.
• The introduction of a new total rewards system, which appropriately incentivises employees who meet and exceed their targets safely and adjust the grading system to bring it into line with the rest of the mining industry.
• Greater mining flexibility achieved through selective outsourcing arrangements.
• Provision of improved maintenance through working arrangements with Original Equipment Manufacturers (OEMs) and aligning policies and procedures to Gold Fields and industry best practice.

Peter Turner, executive VP for the Gold Fields South African region, said: “Unfortunately, no agreement could be reached with NUM on the implementation of these changes. We believe this operating model is in the best interests of the vast majority of employees. South Deep is in a growth phase and with these changes we can create an additional 1 500 jobs when the mine is in full production.”

However, an agreement was reached with UASA, whose members will not be affected by this process, with about 330 employees accepting the final offer by South Deep, while approximately 2 384 underground workers remain affected by the Section 189 notice.

South Deep is an important and strategic growth asset for Gold Fields and the South African mining industry, with gold reserves to run beyond 2070. Gold Fields is committed to a process that ensures that South Deep is managed optimally and adheres to the principles of good governance and sound labour practice to create best-in-class operating conditions.

Turner concluded: “Our proposal not only create new jobs but secure existing ones. We remain hopeful that during the 60-day consultation process we will be able to agree on a way forward that will be in the best interests of all stakeholders.”

Aquarius Platinum May Lose 2,000 Ounces of Production After Worker Deaths

Aquarius Platinum Ltd. may lose 1,500 ounces to 2,000 ounces of output ocrushing plant manufactuered in pakistanf platinum group metals at its Marikana mine in South Africa after five workers were crushed to death by falling rock in an underground tunnel.

The drop in production, about 0.3 percent of its estimated attributable output in fiscal 2011, is likely if a government suspension at the company’s number-four shaft remains in place for two weeks, spokesman Gavin Mackay said by phone from London today. The shaft makes up about half of the mine’s daily output. Aquarius plans to report the results of an investigation to government safety inspectors in two weeks, it said today in a statement. Marikana is a 50:50 venture with Anglo Platinum Ltd. About 500 metric tons of rock fell on contract workers employed by Murray & Roberts Ltd. on July 6 at the mine in South Africa’s North West province, the world’s richest source of platinum. The section of rock was supported “to industry standards,” Aquarius said.

Petropavlovsk Tumbles to 11-Week Low After Reporting Slumping Gold Output

Petropavlovsk Plc, Russia’s third- lmobile crusher 50 thousand tons per hourargest gold producer, slumped to an 11-week low in London after saying second-quarter output of the metal fell 16 percent and full-year production will be at the “bottom end” of its plans.

Petropavlovsk declined as much as 6.2 percent to the lowest since May 7 after second-quarter attributable production slid to 100,700 ounces, from 120,000 ounces a year earlier. Output was hampered by delayed equipment deliveries and “extreme” cold in the Amur region of Russia’s Far East, it said in a statement. “The disappointing performance of the gold mines in the first half and lowering of expectations, while within the forecast range, is not good news,” John Meyer, head of research at Fairfax IS in London, wrote in a research note today. Petropavlovsk fell 3.1 percent to 1,063 pence by 9:02 a.m. in London after touching 1,029 pence.

Burkina Faso Sees Gold Output Rising 60% This Year, Seeks to Lure Newmont

Revenue from gold mining taxes will gravel retail price in the philippinesrise to $150 million in five years from $30 million last year, Abdoulaye Abdoulkader Cisse, the mining and energy minister, said in an interview in London, where he briefed bankers on the country’s reserves.

Burkina Faso, with six gold mines now, will add five over five years, Cisse said. Cluff Gold Plc and Iamgold Corp., which operate in the country, are in talks over new licenses, Cisse said. Newmont is studying whether to apply, he said. The state is also in “early stage discussions” with Vale, the biggest iron-ore producer, on a manganese deposit in the southeast. “The country is very prospective from a geological point of view,” Charles Kernot, an analyst at Evolution Securities in London, said by phone. “Almost it’s a clean sheet as far as companies are concerned and that could increase the chance of finding things where other people haven’t looked.” Douglas Chikohora, technical director at Cluff Gold, said the company operates in the country and is always looking for potential licenses there.

Miranda Reports Drill Results at Pavo Real Project in Colombia

Miranda Gold is pleased to announce drill results from its Pavo Real project in Colombia. Miranda's funding partner Red Eagle Mining in nine holes in this initial programcrushers used in the coal mines.

Drilling was focused on determining structural controls to mineralization, with targets including quartz veins and veinlet systems in sedimentary host rocks and hydrothermal breccias. Ongoing exploration work and these drill results will be used to design a follow-up drill program.

The following table summarizes significant intercepts. Significant intercepts are values of 0.010 oz Au/t or better. True widths are estimated to be 90% of the drill interval and vertical depths are estimated to be 70% of the interval depths.

Miranda and Red Eagle are encouraged by the numerous anomalous intercepts. This initial phase of drilling partially tested targets near the La Cruzada adits, the Quebrada Virgen adit and a breccia on the west side of the property. Yet to be drill tested is a target on the southeast portion of the property where sandstone and limestone are in contact with intrusive rocks. Red Eagle anticipates testing this area for sediment-hosted disseminated mineralization once a drill permit is issued.