Showing posts with label Silver Mines. Show all posts
Showing posts with label Silver Mines. Show all posts

Friday, January 16, 2009

Hunt Gold Corporation -- Sale of "Lookout Silver Mine"

Company Enters Into Agreement to Dispose of Its "Lookout Silver" Mining Interests

Hunt Gold Corporation (PINKSHEETS: HGLC) confirms that it is disposing of its "Lookout Silver" Mine. The Company is in the process of staking additional claims surrounding this mine and is disposing of the "entire package."

This sale is being effected to allow the Company to concentrate exclusively on its Gold Mining interests and to obtain further funds to fund the massively expedited exploration and drilling campaigns currently underway.

The proceeds from the sale of the "Lookout Silver" Mine package; in the amount of US$65 million are being retained by the Company.

This transaction will be concluded on February 2, 2009.

ABOUT HUNT GOLD CORPORATION

Hunt Gold Corporation is a Gold Mining & Exploration Company focused on the development and exploration of its Gold properties, namely "Mockingbird," "Ambassador," "Golden Eagle," "Gladstone Lookout," "Lady Alde," "Williamson," "Blue Copper Mine," "Starlight," "American Flag," "Venezia," "Stormcloud," "Cherry," "Buffalo Limecap," "Red Cloud" and "Federal." The Company has completed the sale of its "American Molygold" interests and will be distributing the entire sale proceeds through a Stock Dividend to its stockholders, this to be announced in January of 2009. The Company has entered into an Agreement to dispose of its "Lookout Silver" Mining Interests on February 2, 2009.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the SEC.

For further information contact:
Hunt Gold Corporation
E Mail: Email Contact
Telephone: (954) 840-6956
Contact: Mr. Michael G Saner

Monday, January 5, 2009

Silver Standard Resources Ready to Resume Production at Pirquitas Argentine Mine

After being abandoned for 20 years, the Pirquitas mine in Argentina is set to be reopened by Silver Standard Resources Inc., according to an Argentine regulatory agency.

The company has spent north of $231 million to get the mine going again.

Along with silver, the mine is expected to produce lead and zinc.

Production will begin sometime in the first months of 2009, said the Mining Secretariat.

Thursday, December 18, 2008

International Minerals -- 2008 Review and 2009 Business Plans

SCOTTSDALE, AZ, Dec 18, 2008 (MARKET WIRE via COMTEX) -- International Minerals Corporation (CA:IMZ) (SWX: IMZ) ("the Company") reports a calendar year-end summary of its corporate and project activities during 2008 and its business plans for calendar year 2009.

Corporate

-- The Company's share price, like that of most resource companies,
has not performed well in 2008 due primarily to prevailing adverse
market conditions not only in the natural resources sector but also
in the general financial market. IMZ's current share price is
essentially at the same level as five years ago.

-- Management believes that the Company's accomplishments of the past
year (especially at the Pallancata underground silver-gold mine in
Peru) combined with our future plans will remedy this situation and
IMZ's share price should recover in 2009 together with a likely
resurgence in metal prices.

-- In terms of financial health, the Company is in the enviable
position of having a strong balance sheet with cash and short-term
investments of over US$50 million at calendar 2008 year end, with
expected cash dividends commencing in late 2009 from the 40%-owned
Pallancata Mine.

-- In mid-October 2008, IMZ instituted a share repurchase program
because the Board believed that the market price of the Company did
not fully reflect the underlying value of the Company's business
and its future business prospects. An update on the share
repurchase program will be provided in the Company's second fiscal
quarter financial information for the period ending
December 31, 2008.


A brief update on the Company's key projects is provided below:

Pallancata Silver-Gold Mine, Peru

-- Owned 40% by IMZ and 60% by the mine operator, Hochschild
Mining plc.

-- Pallancata has become one of the success stories in the mining
industry in 2008 and is now the number-one primary silver mine
in Peru in terms of silver reserves.

-- Proven and probable reserve estimates in August 2008 were
approximately 80 million ounces of silver equivalent (using a
75:1 silver:gold ratio) contained within 5.8 million tonnes at
329 g/t silver and 1.2 g/t gold in proven and probable reserves.
See IMZ news release dated August 25, 2008 for further details.

-- Production (100% project basis):

- From start-up (September 2007) to September 30, 2008 almost
3 million ounces of silver and over 10,000 ounces of gold have
been produced.
- For calendar year 2008, production is expected to reach
approximately 4.5 million ounces of silver and 18,000 ounces
of gold.
- In 2009, Pallancata should become one of the top-10 largest
primary silver mines in the world, producing an expected 6 to
7 million ounces of silver annually.

-- Total cash costs, including the government royalty, are currently
under US$6.00 per ounce of silver net of by-product gold credits.
Currently, direct mine site costs (included in the US$6.00 cash
cost) are approximately US$3.15 per ounce (assuming only mining,
processing and mine G&A costs).

-- IMZ's net earnings from the Pallancata Mine to September 30, 2008
are approximately US$3.8 million.

-- Because all cash flow has been required for funding the aggressive
capital expansion program at the Pallancata Mine, to date there
have been no cash dividends distributed to the joint venture
partners. Cash dividends are expected to commence, however, in the
final quarter of calendar year 2009, dependent on metal prices and
ongoing capital requirements.

Rio Blanco and Gaby Gold Projects, Ecuador

-- It has been a difficult year for the mining/exploration sector in
Ecuador.

-- The market awaits the expiry of the mining mandate (that suspended
exploration and mining activities in April) and approval of the new
mining law in January 2009. Normalization of exploration/mining
activities likely will take several months longer while the detailed
regulations for the mining law are prepared and approved.

-- The negotiation of project-specific mining contracts (covering
issues such as income/windfall taxes and royalty payments) for the
more advanced projects (such as IMZ's Rio Blanco, Kinross' Fruta
del Norte, IAMGOLD's Quimsacocha and Corriente's Mirador projects)
are expected to take up to an additional six months to negotiate
with the government.

-- In calendar year 2009, IMZ does not expect to spend significant
funds in Ecuador at the Rio Blanco underground gold-silver project
and the Gaby open-pit gold project and has already reduced its
workforce accordingly. The Company is, however, maintaining its
significant in-country infrastructure and its commitment to
developing its Ecuadorian projects.

-- IMZ has previously completed much of the environmental permitting
process for the proposed development of a mining operation at Rio
Blanco. Final permitting approval is expected by the end of 2009,
with construction (subject to required additional financing)
starting in 2010.

-- In February 2008, the Company completed a preliminary feasibility
report at Gaby, which was not positive at US$650 per ounce gold
price but is currently being optimized for higher tonnage
production. Results of the optimization program will be announced
in the first quarter of 2009.

New Acquisitions

-- In the current market there are significant opportunities for IMZ
to acquire gold-silver companies and/or projects that are in or
near production at low acquisition costs that have not been seen
in the industry for the past 20 years. IMZ is well-positioned with
its cash resources and strong technical team to take advantage of
this situation.

-- IMZ's preference is to seek these opportunities in the Americas,
especially in South America in order to leverage off of IMZ's
considerable technical and corporate expertise from over 15 years
of exploration and development of projects in that region.

-- The Company has evaluated at least 25 companies/projects in 2008,
using its experienced acquisition team, and management is confident
that IMZ will achieve at least one major acquisition during the
coming year.


The technical information in this news release was reviewed by IMZ's Qualified Person, Nick Appleyard, Technical Manager.

Cautionary Statement:

Some of the statements contained in this release are "forward-looking statements" within the meaning of Canadian securities law requirements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this release include statements regarding capital expansion costs and completion, drilling and development programs on the Company's projects, timing of commencement of production, completion of feasibility studies, obtaining of required environmental and production permits, and timing and amounts of future cash flows from operations. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties such as: risks relating to estimates of mineral resources and reserve; risks relating to project capital and production costs; risks relating to obtaining mining and environmental permits; mining and development risks; risk of commodity price fluctuations; political and regulatory risks; risks related to a new mining law in Ecuador, and other risks and uncertainties detailed in the Company's Renewal Annual Information Form for the year ended June 30, 2008, which is available at www.sedar.com under the Company's name. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

For additional information, contact:
Wendy Yang
Tel: (303) 357-4863
Internet Site: http://www.intlminerals.com



SOURCE: International Minerals Corporation
http://www.intlminerals.com

Copyright 2008 Market Wire, All rights reserved.

Wednesday, December 17, 2008

Endeavour Silver Arranges CA$4 Million Special Warrant Private Placement

VANCOUVER, BRITISH COLUMBIA, Dec 17, 2008 (MARKET WIRE via COMTEX) -- Endeavour Silver Corp. (CA:EDR) (NYSE ALTERNEXT US: EXK) announces that it has arranged a CA$4 million private placement financing of special warrants brokered by certain Canadian placement agencies. The agents have an oversubscription right to place up to an additional CA$1 million and the financing is expected to close no later than December 30, 2008, subject to TSX and regulatory approvals.

The private placement will consist of up to 3,080,000 special warrants priced at CA$1.30 per special warrant for gross proceeds of up to CA$4,004,000. Each special warrant is exchangeable for one common share and one half share purchase warrant. Each full share purchase warrant can be exercised to purchase an additional common share at an exercise price of CA$1.90 per share within a 5 year period from the earlier of the closing of the placement plus 60 days, or from the issuance of a final receipt for a prospectus to qualify the special warrants in all relevant Canadian jurisdictions.

The agents will receive a 6% cash fee and brokers' special warrants equal in number to 6% of the number of special warrants sold pursuant to the private placement. Each broker special warrant will be exchangeable for one broker warrant. Each broker warrant can be exercised to purchase an additional common share at CA$1.51 per share and will have the same expiry term as the share purchase warrants. The units will be subject to a four month plus one day hold period. Endeavour will use its commercially reasonable efforts to prepare and file a preliminary prospectus and final prospectus in the Canadian offering jurisdictions as soon as possible after the closing of the private placement, and seek to obtain receipts within, respectively, 45 days and 60 days after closing. If Endeavour has not filed and obtained receipts for a final Prospectus within 60 days of the date of the closing of the private placement, the placees will be entitled to receive 1.1 Common Shares (in lieu of 1 Common Share) and 0.55 Warrants (in lieu of 0.5 Warrants) on the exercise of each Special Warrant.

The net proceeds of the financing will be added to working capital to fund the Company's operating and capital plans at its two producing silver mines in Mexico and to provide additional capital for possible acquisitions in 2009.

The offered securities will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), and may not be offered or sold in the United States or to, or for the account or benefit of, "U.S. persons", as such term is defined in Regulation S under the U.S. Securities Act absent registration or an applicable exemption from registration requirements.

This news release shall not constitute an offer to sell or an offer to buy the securities in any jurisdiction.

Endeavour Silver Corp. (CA:EDR) (NYSE ALTERNEXT US: EXK) is a small-cap silver mining company focused on the growth of its silver production, reserves and resources in Mexico. The expansion programs now underway at Endeavour's two operating mines, Guanacevi in Durango and the Guanajuato Project in State, coupled with the Company's aggressive acquisition and exploration programs in Mexico should enable Endeavour to join the ranks of mid-tier primary silver producers.

ENDEAVOUR SILVER CORP.

Bradford Cooke, Chairman and CEO

CAUTIONARY DISCLAIMER - FORWARD LOOKING STATEMENTS

Certain statements contained herein regarding the Company and its operations constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. All statements that are not historical facts, including without limitation statements regarding future estimates, plans, objectives, assumptions or expectations of future performance, are "forward-looking statements". We caution you that such "forward looking statements" involve known and unknown risks and uncertainties that could cause actual results and future events to differ materially from those anticipated in such statements. Such risks and uncertainties include fluctuations in precious metal prices, unpredictable results of exploration activities, uncertainties inherent in the estimation of mineral reserves and resources, fluctuations in the costs of goods and services, problems associated with exploration and mining operations, changes in legal, social or political conditions in the jurisdictions where the Company operates, lack of appropriate funding and other risk factors, as discussed in the Company's filings with Canadian and American Securities regulatory agencies.

Resource and production goals and forecasts may be based on data insufficient to support them. Godfrey Walton, P.Geo. and/or Bradford Cooke, P.Geo. are the Qualified Persons for the Company as required by NI 43-101. The Company expressly disclaims any obligation to update any forward-looking statements other than as required by applicable securities legislation. We seek safe harbour.

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

Contacts:
Endeavour Silver Corp.
Hugh Clarke
(604) 685-9775 or Toll Free: 1-877-685-9775
(604) 685-9744 (FAX)
Email: hugh@edrsilver.com
Website: www.edrsilver.com

Thursday, December 4, 2008

Silver Falcon Mining, Inc. (SFMI) Meets Objectives of 2008 Business Plan

NEW YORK, NY, Dec 04, 2008 (MARKET WIRE via COMTEX) -- Silver Falcon Mining, Inc. (PINKSHEETS: SFMI) looks back at its 2008 business plan agreed to by its Board of Directors in late 2007.

The SFMI Board of Directors approved a business plan which called for the following objectives to be met within the 2008 calendar year:

-- Build and start up, 100 tons per day precious metal processing mill
within a 50 miles radius of War Eagle Mountain.

-- Bring previously mined ore (tailings) as needed, from the mountain to
the plant, for a six month production of Gold and Silver.

-- Re-open one of the mine shafts on the property and prepare it for
further activity; in accordance with the Company's operating contract with
GoldCorp Holdings, Inc.

-- Mandate the officers of the company to file documents with the United
States Securities and Exchange Commission, in order to become fully
reporting and provide financial transparency.



SFMI's Management reports that it has fulfilled all aspects of its aforementioned 2008 business plan.

Having purchased and installed state of the art milling equipment, SFMI goes into operation by the end of this year, processing approximately one hundred tons of ore per day.

The Company transported ore, from atop War Eagle Mountain to its Melba, ID mill. The Company reports enough mill-feed tonnage available to last until mid-year 2009. Ore transport operations will resume, in the spring, providing additional mill-feed for 12 months of continuous production.

SFMI's mining engineers opened the "Belle Peck" adit, thus giving access to the "Poorman" complex of gold and silver veins. This secured access gives our personnel, the year round ability to conduct the geological and mining steps necessary to start underground operations in the spring of 2009.

The Company, in October 2008, acquired the "Sinker Tunnel," which is situated at a lower elevation on the mountain and allows us easy year round access. This tunnel structure allows engineers, miners and geologist further internal access to SFMI's underground minerals contained above and around the tunnel. Two more "Deep-Shaft" mines were included in this purchase, as well as, 4 mill sites.

At the beginning of the year, the property owned by GoldCorp Holdings, Co, covered approximately 172 acres. In 2008, it filed mineral claims at the Bureau of Land Management to an additional 1,400 acres on War Eagle Mountain, giving it almost complete mineral rights to the area. Under SFMI's long-term contract with GoldCorp Holdings, Co., SFMI's geologist/ mining engineers began a mapping operation of this total acreage which will result in a current picture of the underlying value of the numerous precious metal veins and determine the best access routes for future development.

Management retained the services of an independent auditor, who is going through an exhaustive financial audit of the company's affairs. A registration statement filing, under the USSEC 1933 Act, will be submitted with the exchange commission upon the audit's completion.

Mr. Pierre Quilliam, President of Silver Falcon Mining, Inc., said "We had an ambitious plan and carried it out successfully thanks to the selfless dedication of our employees and contractors. We hired competency in the various disciplines needed to carry out our successful mining program, now and in future years. This past performance should make it easier to get Board of Directors approval for the 2009 operations plan. "

About SFMI:

Silver Falcon Mining, Inc., is an exploration and development Company specializing in high-grade Gold and Silver mining properties in North America. Its primary operations at War Eagle Mountain, Owyhee County, ID is a Gold and Silver rich property, where it has the developmental and operating rights to (14) deep-shaft mines covering the Mountains' primary epithermal ore producing veins.
Further Information contact Rich Kaiser, Investor Relations, YES INTERNATIONAL 800-631-8127; www.silverfalconmining.com.

Silver Falcon Mining cautions that statements made in this press release constitute forward-looking statements, and not guarantees of future performance and actual results or developments may differ materially from the projections in the forward-looking statements. Forward-looking statements are based on the estimates and opinions of management at the time the statements are made.
CONTACT:

YES INTERNATIONAL

800-631-8127

SOURCE: Silver Falcon Mining
Copyright 2008 Market Wire, All rights reserved.

Friday, November 14, 2008

Minera Andes Reports Third Quarter 2008 Results

Minera Andes Inc. (TSX-MAI and US OTC: MNEAF) today reported a net loss of $3.5 million or $0.02 per share in its third quarter of 2008 financial statements. For the nine months ended September 30, 2008, Minera Andes recorded a net profit of $3.6 million or $0.02 per share. Our financial statements are available at www.sedar.com.

Minera Andes' revenue is derived from Minera Santa Cruz S.A.("MSC"), which is owned 49% by Minera Andes and 51% by Hochschild Mining plc. ("Hochschild") (HOCM.L: Reuters and HOC LN: Bloomberg - London Stock Exchange). MSC operates the San Jose silver/gold mine in southern Argentina, which had its first quarter of positive earning from silver and gold sales in Q2 2008 following the commencement of production at San Jose last year. Hochschild is the operator of the San Jose mine.

As previously reported, silver and gold sales in the third quarter totaled $18.5 million versus $63.2 million for the second quarter. Third quarter 2008 sales of gold and silver are lower than Q2 because an inventory build of metal produced in 4Q 2007 and 1Q 2008 gave the second quarter higher than normal sales. In addition, another build up of metal inventory has occurred in Q3 due to a smelting furnace being temporarily down. The metal in inventory is planned to be sold in Q4 of 2008. The averaged weighted sales prices for Q3 were $861/ounce of gold and $12.37/ounce of silver. The average realized market prices in Q3 2008 were 4.5% lower for Au and 25% lower for Ag than in Q2 2008 (source: KITCO). Since mine start up 15 months ago, San Jose's total sales have been $92.9 million. San Jose's silver and gold sales are un-hedged.

Allen Ambrose, President of Minera Andes said, "Sales and net revenues for the third quarter were less than expected, primarily due to temporary mechanical problems with a smelting furnace causing an inventory buildup of precipitate at site. With the first phase of expansion completed to double the production rate, it is estimated that the San Jose mine will join the ranks of the top ten primary silver producing mines in the world next year when the mine and mill ramp up to the expanded capacity level."

Production

Mill throughput increased 11.5% compared to the previous quarter, but silver production was 9.4% lower and gold production was 0.6% lower than the previous quarter due to lower head grades. San Jose's silver production declined slightly in the third quarter compared to the second quarter. Silver production was 990,000 ounces in the third quarter, compared to 1,093,000 ounces in the second quarter. Annualized, third quarter silver production is running closer to the average grade of the reserves in the original mine plan versus last quarter that was running 33% above the average grade of the reserves. During the life of the mine it is anticipated the gold and silver production will be in line with the mine plan and the reserve grades. Gold production in the third quarter was 12,340 ounces, compared to 12,410 ounces in the second quarter.

For the third quarter, production cash costs on a co-product basis averaged $7.43 per ounce of silver and $431 per ounce of gold. The production cash costs are shown on a co-product basis and are calculated by multiplying the total cash costs by the percentage the calculated value of the silver produced, divided by the number of silver ounces produced in the case of silver, and in the case of gold by multiplying the total cash costs by the percentage of value of gold produced, divided by the number of gold ounces produced. Cash costs include cost of sales, commercial deductions and selling expenses, less depreciation. The production cash costs were calculated using the value of the 12,340 ounces of gold and 990,000 ounces of silver produced in the form of dore, precipitates, and concentrates and the cost to produce those ounces as defined above was $12.7 million. The percentage of the values for the gold and silver production is based on the Q3 2008 average London PM fix for gold and the London fix for silver.

Phase I of the Mine Expansion

Phase I of the expansion has been completed, consisting of an increase in the mining and processing capacity from 750 metric ton per day to 1,500 metric ton per day. Mine production will ramp up to full capacity over the next few months. Currently, approximately 40% of the ore fed to the expanded plant is being processed to produce dore bars and approximately 60% is being processed to produce concentrates. Phase II of the expansion involves connecting to the regional electrical grid which is estimated to be completed in Q1 2009. Meanwhile, there is sufficient diesel generating capacity at the mine to run the mill at its full capacity. Phase III of the mine expansion, which is expected to be completed by mid-2009, involves further expansion of the refining circuit at the processing facility to convert all the concentrate to dore, which will reduce working capital requirements, selling discounts and result in lower production taxes.

Allen V. Ambrose, Minera Andes' President, who is a "qualified person" as defined by National Instrument 43-101, is responsible for the information used in this news release and has supervised the preparation of the information and reviewed all information used in this news release.

Minera Andes is a gold, silver and copper exploration company working in Argentina. The Company holds about 304,000 acres of mineral exploration land in Argentina including the 49% owned San Jose silver/gold mine that commenced production last year. Minera Andes is also exploring the Los Azules copper project in San Juan province, where an exploration program is underway to complete a scoping study by yearend. Other exploration properties, primarily silver and gold, are being evaluated in southern Argentina. The Corporation presently has 190,158,851 shares issued and outstanding.

This news is submitted by Allen V. Ambrose, President and Director of Minera Andes Inc.

Caution Concerning Forward-Looking Statements:

This press release contains certain "forward-looking statements", including, but not limited to, the statements regarding the Company's strategic plans, evolution of mineral resources and reserves, work programs, development plans and exploration budgets at the Company's San Jose Project. The forward-looking statements express, as at the date of this press release, the Company's plans, estimates, forecasts, projections, expectations or beliefs as to future events and results. Forward-looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements. In particular, there can be no assurance that production capacity at the San Jose mine will be successfully increased, that resources and reserves at the San Jose mine will be increased. Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements include, but are not limited to, factors associated with fluctuations in the market price of precious metals, mining industry risks, risks associated with foreign operations, the state of the capital markets, environmental risks and hazards, uncertainty as to calculation of mineral reserves and other risks. We refer readers to the risk factors and uncertainties described in the Company's continuous disclosure record, a copy of which is available under the Company's profile at www.sedar.com. Minera Andes' joint venture partner, a subsidiary of Hochschild Mining plc, and its affiliates do not accept responsibility for the use of project data or the adequacy or accuracy of this release.

Cautionary Note to U.S. Investors:

The United States Securities and Exchange Commission (the "SEC") permits mining companies, in their filings with the SEC, to disclose only those mineral deposits with "mineral reserves" that a company can economically and legally extract or produce. We use certain terms in this press release, such as "mineral resources", that the SEC guidelines strictly prohibit us from including in our filings with the SEC, because these terms are common usage in Canada and form part of our Canadian filing requirements.

SOURCE Minera Andes Inc.

Copyright
(C) 2008 PR Newswire. All rights reserved

Monday, July 14, 2008

Silver Falcon Mining Says Ready to begin Transporting


Per a deal with Earll Excavation and Bill Earll, Silver Falcon Mining (SFMI.PK)announced they're ready to go forward with the first phase of their business plan.

Pierre Quilliam, President of Silver Falcon Mining, Inc., said, "Now that the roads are open all the way to our mines, we can proceed with the first phase of our business plan. We are very excited to join with Earll Excavation, Inc., an experienced hauler, which gives us insurance of continuous production in our Melba mill for the next 24 months."

Earll Excavation is well respected in the industry, and has successfully loaded and transported tailings for a number of companies.

The agreement calls for loading and transporting tailings from the "Belle Peck" adit to SFMI's mill in Melba, Idaho. There it will be stockpiled by Earll.

Friday, April 25, 2008

HiHo Silver Resources Expanding Exploration at Silvertip Project

Hi Ho Silver Resources Inc. announced it will be expanding its exploration at the Silver Tip Project in the southeastern portion of British Columbia.

Fred Fisher, President of Hi Ho Silver Resources Inc. says, “Historically the property is under explored, and utilizing modern systematic exploration techniques to confirm and prove mineralized showings, we will be in a position to advance the Property towards defining a mineable resource.”

Included in the 2008 expanded exploration will be "soil and rock sampling, geological mapping, trenching, opening up old workings, access road/trail construction, metallurgical work, prospecting, shallow drilling with portable drills and bulk sampling," said the press release.

While there are currently eight high-grade mineral showings, six of them are past production; the reason for expanding the exploration of the Property.