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	<title>MINING.com &#187; Molybdenum</title>
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		<title>BC mining industry earned extra $2 billion in 2011 on strength of coal, silver</title>
		<link>http://www.mining.com/2012/05/16/bc-mining-industry-earned-extra-2-billion-in-2011-on-strength-of-coal-silver/</link>
		<comments>http://www.mining.com/2012/05/16/bc-mining-industry-earned-extra-2-billion-in-2011-on-strength-of-coal-silver/#comments</comments>
		<pubDate>Wed, 16 May 2012 18:58:32 +0000</pubDate>
		<dc:creator>Andrew Topf</dc:creator>
				<category><![CDATA[Mining News and Commentary]]></category>
		<category><![CDATA[British Columbia]]></category>
		<category><![CDATA[Canada]]></category>
		<category><![CDATA[Coal]]></category>
		<category><![CDATA[Copper]]></category>
		<category><![CDATA[Exploration]]></category>
		<category><![CDATA[Gold]]></category>
		<category><![CDATA[Lead]]></category>
		<category><![CDATA[Molybdenum]]></category>
		<category><![CDATA[Silver]]></category>
		<category><![CDATA[Zinc]]></category>

		<guid isPermaLink="false">http://www.mining.com/?p=342819</guid>
		<description><![CDATA[The mining industry in British Columbia produced some healthy numbers in 2011, buoyed by high commodity prices and continued growth in mineral exploration, according to PwC’s annual BC Mining Survey.]]></description>
			<content:encoded><![CDATA[<p>The mining industry in British Columbia produced some healthy numbers in 2011, buoyed by high commodity prices and continued growth in mineral exploration, according to PwC’s annual BC Mining Survey.</p>
<p>The survey of 41 participants included 17 operating metal and coal mines including the Teck smelter in Trail, 13 operations in the permitting stage, 8 advanced exploration properties, and 3 mines being reclaimed.</p>
<p>Mines currently permitted or under active permitting comprise Yellowjacket, Schaft Creek, Galore Creek, Table Mountain, Turnagain, Red Chris, Mount Klappan, Mount Milligan, Berg, Prosperity, Harper Creek, New Afton and Afton-Ajax.</p>
<p>Copper, coal, zinc, molybdenum, lead, gold and silver were the main commodities surveyed.</p>
<p>Coal, always a strong backbone of the BC mining industry, was again a catalyst for growth in 2011, according to PwC. The sector was responsible for over half (59%) of BC mining revenues, which rose 25% from $7.9 billion in 2010 to $9.9 billion last year. The $2 billion increase was almost completely attributable to higher metallurgical coal prices and increased coal shipments. Net income for the mining industry was also up last year, by $0.8 billion due to production increases in coal and higher coal, silver and lead prices.</p>
<p>Shipments of coal rose 10% while the average realized coal price was US$257/tonne compared to US$181/tonne in 2010. Total coal revenues jumped 53% to $5.2 billion.</p>
<p>Silver was the other big gainer besides coal. Net mining revenues from the white metal nearly doubled to $811 million in 2011, with the average price climbing a whopping 75%. BC silver miners in 2011 were able to sell the precious metal for $US35.31 an ounce compared to $20.22 the year earlier, although by the first quarter of 2012, the price had dropped to $32.62/oz.</p>
<p>Lead also did well last year, with shipments of lead and lead concentrates increasing 20% and average prices rising 12 cents a pound from the prior year.</p>
<p>Gold, copper and zinc didn’t fare so well. Net revenues from gold fell 31% to $154 million, while copper revenues declined slightly from $1.37 billion to $1.32 billion last year. Shipments of copper concentrate were also down, from 712,000  to 668,000 tonnes. Revenues and shipments from zinc fell a respective 8% and 13%.</p>
<p>Molybdenum was flat, with prices and revenues remaining consistent.</p>
<p>Mineral exploration was a bright spot in the BC mining sector last year, according to the PwC report. Exploration spending by survey participants, including greenfield and brownfield properties, more than doubled (+113%) to $431 million in 2011. Of this amount, the majority ($339 million) was spent on development properties, with $77 million spent on greenfield projects and $15 million on producing mines.</p>
<p>Mining continues to be a big employment generator in BC according to the report. Mining companies hired 1,115 more people in 2011, bringing the total number employed to 9,310. Workers are also earning more, with the average salary for a mining company employee now sitting at $115,700 per year, an increase of 7% compared to 2010.</p>
<p>Another notable statistic was the increase in capital expenditures which has a multiplier effect on mining and equipment suppliers. BC mining capex more than doubled in 2011 (+135%) to $2.9 billion, with the majority of expenditures, $1 billion, accredited to projects under construction.</p>
<p><a href="http://www.pwc.com/ca/en/mining/publications/pwc-mining-survey-bc-2012-05-en.pdf">Download the full report here</a></p>
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		<title>Northern Dynasty confirms $107 million work program to prepare Pebble Project for permitting in 2012</title>
		<link>http://www.mining.com/2012/05/15/northern-dynasty-confirms-107-million-work-program-to-prepare-pebble-project-for-permitting-in-2012/</link>
		<comments>http://www.mining.com/2012/05/15/northern-dynasty-confirms-107-million-work-program-to-prepare-pebble-project-for-permitting-in-2012/#comments</comments>
		<pubDate>Tue, 15 May 2012 17:55:03 +0000</pubDate>
		<dc:creator>CNW Group</dc:creator>
				<category><![CDATA[Mining News and Commentary]]></category>
		<category><![CDATA[Alaska]]></category>
		<category><![CDATA[Copper]]></category>
		<category><![CDATA[Gold]]></category>
		<category><![CDATA[Molybdenum]]></category>
		<category><![CDATA[USA]]></category>

		<guid isPermaLink="false">http://www.mining.com/?p=340689</guid>
		<description><![CDATA[Northern Dynasty Minerals Ltd. ("Northern Dynasty" or the "Company") (TSX: NDM; NYSE Amex: NAK) announces that the Board of Directors of Pebble Mines Corp., the general partner of the Pebble Limited Partnership (the "Pebble Partnership" or "PLP") has approved a budget of approximately US $107 million to advance the Pebble Project in 2012, with the objective of readying PLP to initiate permitting under the National Environmental Policy Act (NEPA) toward the end of the year.]]></description>
			<content:encoded><![CDATA[<p align="left">VANCOUVER, May 15, 2012 /CNW/ &#8211; Northern Dynasty Minerals Ltd. ("Northern Dynasty" or the "Company") (TSX: NDM; NYSE Amex: NAK) announces that the Board of Directors of Pebble Mines Corp., the general partner of the Pebble Limited Partnership (the "Pebble Partnership" or "PLP") has approved a budget of approximately US $107 million to advance the Pebble Project in 2012, with the objective of readying PLP to initiate permitting under the National Environmental Policy Act (NEPA) toward the end of the year.</p>
<p align="left">"Following the completion and release of the 27,000 page Pebble Environmental Baseline Document (EBD) earlier this year, the Pebble Partnership is now focused on finalizing the other principal document required to trigger permitting under NEPA &#8211; a Project Description," said Northern Dynasty President &amp; CEO Ronald Thiessen. "After years of methodical and intensive geological, environmental, socioeconomic and engineering study, we are now finalizing a proposed design for the Pebble Project that will meet and exceed environmental regulations and permitting requirements in Alaska and the United States, while providing significant benefits to the region, the state and the nation."</p>
<p align="left">Thiessen confirmed that the Pebble Partnership plans to lead a public consultation initiative in Alaska in fall 2012 to share the status of project engineering with stakeholders. Other activities to be undertaken to advance the Pebble Project this year include:</p>
<ul>
<li>engineering studies to complete a Project Description in 2012 and finalize a Prefeasibility Study (PFS) in 2013;</li>
<li>continued environmental baseline monitoring studies, with a focus on surface and groundwater hydrology, water quality and fisheries resources;</li>
<li>site investigations, including exploration, geotechnical and metallurgical drilling, as well as geo-hydrology testing; and</li>
<li>stakeholder engagement and public affairs programming, including a public consultation program outlining current plans for the proposed mine, workforce and business development initiatives, public education and community investment.</li>
</ul>
<p align="left">From the time that the Pebble Partnership was established in July 2007 to the end of December 2011, Anglo American plc has invested approximately US $400 million to advance engineering, environmental and socioeconomic studies.</p>
<p align="left">Prior to initiating project permitting, the Pebble Partnership plans to undertake a broad-based public engagement program to consult Alaskans and other project stakeholders about the current status of project planning. This public consultation initiative is scheduled to begin in the fall of 2012.</p>
<p align="left">"As part of the process of developing a proposed Project Description, the Pebble Partnership will be meeting and consulting with the people and communities of southwest Alaska and throughout the state to allow Alaskans and all interested stakeholders to gain a better understanding of how this project will be built and operated to provide significant benefits to the state and country, while protecting fish, water and other important natural resources," Thiessen said.</p>
<p align="left"><strong>About the Pebble Project</strong></p>
<p align="left">The Pebble Project is an initiative of the Pebble Partnership to responsibly develop a globally significant copper, gold and molybdenum deposit in southwest Alaska into a modern, long-life mine. The project is located 200 miles southwest of Anchorage on state land designated through two public land use planning exercises for mineral exploration and development. It is situated approximately 1,000 feet above sea-level, 65 miles from tidewater on Cook Inlet and presents favourable conditions for successful mine site and infrastructure development.</p>
<p align="left">The Pebble Project consists of the Pebble deposit, surrounding mineral claims and a stream of financing being provided by Northern Dynasty's project partner Anglo American US (Pebble) LLC. The Pebble Partnership was established in July 2007 as a 50:50 partnership between a wholly-owned affiliate of Northern Dynasty and a wholly-owned subsidiary of Anglo American plc. Both Northern Dynasty and Anglo American have equal ownership and direction of the Pebble Partnership.</p>
<p align="left">Under the terms of the Pebble Limited Partnership Agreement, Anglo American is required to elect to commit $1.5 billion in staged investments in order to retain its 50% interest in the Pebble Project. Funds provided by Anglo American are currently being invested in comprehensive exploration, engineering, environmental and socioeconomic programs toward the future development of the Pebble Project.</p>
<p align="left"><strong>About Northern Dynasty</strong></p>
<p align="left">Northern Dynasty Minerals Ltd. is a mineral exploration and development company based in Vancouver, Canada, which holds indirect interests in 650 square miles of mineral claims in southwest Alaska, USA. Northern Dynasty's principal asset is a 50% interest in the Pebble Partnership, owner of the Pebble Copper-Gold-Molybdenum Project. The Pebble Project is an advanced-stage initiative to develop one of the most important mineral resources in the world.</p>
<p align="left">For further details on Northern Dynasty please visit the Company's website at <a href="http://www.northerndynasty.com/" target="_blank">www.northerndynasty.com</a> or contact Investor services at (604) 684-6365 or within North America at 1-800-667-2114. Review Canadian public filings at<a href="http://www.sedar.com/" target="_blank">www.sedar.com</a> and US public filings at <a href="http://www.sec.gov/" target="_blank">www.sec.gov</a>.</p>
<p align="left">Ronald W. Thiessen<br />
<em>President &amp; CEO</em></p>
<p align="center"><strong>Sole Responsibility</strong></p>
<p align="left">No regulatory authority accepts responsibility for the adequacy or accuracy of this release. Northern Dynasty is solely and entirely responsible for the contents of this news release. No other party, including any parties which have an interest in the project, are in any way responsible for the contents hereof.</p>
<p align="center"><strong>Forward Looking Information and other Cautionary Factors</strong></p>
<p align="left">This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, especially those that address estimated resource quantities, grades and contained metals, are forward-looking statements because they are generally made on the basis of estimation and extrapolation from a limited number of drill holes and metallurgical studies. Although diamond drill hole core provides valuable information about the size, shape and geology of an exploration project, there will always remain a significant degree of uncertainty in connection with these valuation factors until a deposit has been extensively drilled on closely spaced centers, which has occurred only in specific areas on the Pebble Project. Although the Company believes the expectations expressed in its forward-looking statements are based on reasonable assumptions, such statements should not be in any way construed as guarantees of the ultimate size, quality or commercial feasibility of the Pebble Project or of the Company's future performance. The likelihood of future mining at the Pebble Project is subject to a large number of risks and will require achievement of a number of technical, economic and legal objectives, including obtaining necessary mining and construction permits, completion of pre-feasibility and final feasibility studies, preparation of all necessary engineering for underground workings and processing facilities as well as receipt of significant additional financing to fund these objectives as well as funding mine construction. Such funding may not be available to the Company on acceptable terms or on any terms at all. There is no known ore at the Pebble Project and there is no assurance that the mineralization at the Pebble Project will ever be classified as ore. The need for compliance with extensive environmental and socio-economic rules and practices and the requirement for the Company to obtain government permitting can cause a delay or even abandonment of a mineral project. The Company is also subject to the specific risks inherent in the mining business as well as general economic and business conditions. For more information on the Company, Investors should review the Company's annual Form 40-F filing with the United States Securities and Exchange Commission and its home jurisdiction filings that are available at <a href="http://www.sedar.com/" target="_blank">www.sedar.com</a>.</p>
]]></content:encoded>
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		<title>Canadian Inmet set to kick off construction at Cobre Panama</title>
		<link>http://www.mining.com/2012/05/07/canadian-inmet-set-to-kick-off-construction-at-cobre-panama/</link>
		<comments>http://www.mining.com/2012/05/07/canadian-inmet-set-to-kick-off-construction-at-cobre-panama/#comments</comments>
		<pubDate>Mon, 07 May 2012 13:37:59 +0000</pubDate>
		<dc:creator>Cecilia Jamasmie</dc:creator>
				<category><![CDATA[Major news provider]]></category>
		<category><![CDATA[Mining News]]></category>
		<category><![CDATA[Mining News and Commentary]]></category>
		<category><![CDATA[Copper]]></category>
		<category><![CDATA[Gold]]></category>
		<category><![CDATA[Latin America]]></category>
		<category><![CDATA[Molybdenum]]></category>
		<category><![CDATA[Panama]]></category>

		<guid isPermaLink="false">http://www.mining.com/?p=330499</guid>
		<description><![CDATA[Inmet Mining Corporation (TSX:IMN) has launched a $1 billion senior unsecured notes offering as part of a total finance plan for the $6.18 billion copper/gold/molybdenum project Cobre Panama. ]]></description>
			<content:encoded><![CDATA[<p>Inmet Mining Corporation (TSX:IMN) <a href="http://ir.inmetmining.com/manual-releases/2012/Inmet-Mining-Announces-Launch-of-US-$1-Billion-Sen">has launched a $1 billion senior unsecured notes offering</a> as part of a total finance plan for the $6.18 billion copper/gold/molybdenum project Cobre Panama.</p>
<p>The <a href="http://ir.inmetmining.com/manual-releases/2012/May-6-2012-Cobre-Panama-Basic-Engineering-FINAL">TSX-listed company said</a> MPSA has completed the most important steps of permitting and basic engineering, and is now ready to start construction.</p>
<p>The project, one of the world's largest undeveloped porphyry copper deposits, is owned by Minera Panama, S.A. (MPSA), an 80% owned subsidiary of Inmet. Korea Panama Mining Corporation (KPMC), a consortium of LS-Nikko Copper Inc. and Korea Resources Corporation, owns the remaining 20%.</p>
<p>Inmet CEO Jochen Tilk said the company had been involved in the development of Cobre Panama for the past 20 years. “The results of basic engineering had demonstrated robust economics, and we are executing a solid financing plan that does not include issuing equity. The coming four years will be transformative for Inmet as we expect to grow significantly as a low-cost copper producer,” he said <a href="http://ir.inmetmining.com/manual-releases/2012/May-6-2012-Cobre-Panama-Basic-Engineering-FINAL">in a statement</a>.</p>
<p>The mine was expected to ship its first consignment of concentrate during the first quarter of 2016, and the life-of-mine was expected to be more than 31 years.</p>
]]></content:encoded>
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		<title>Teck files environmental assessment for Chilean project</title>
		<link>http://www.vancouversun.com/business/Teck+files+environmental+assessment+Chilean+project/6535357/story.html</link>
		<comments>http://www.vancouversun.com/business/Teck+files+environmental+assessment+Chilean+project/6535357/story.html#comments</comments>
		<pubDate>Sat, 28 Apr 2012 19:32:17 +0000</pubDate>
		<dc:creator>Vancouver Sun</dc:creator>
				<category><![CDATA[Major news provider]]></category>
		<category><![CDATA[Mining News]]></category>
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		<category><![CDATA[Chile]]></category>
		<category><![CDATA[Copper]]></category>
		<category><![CDATA[Latin America]]></category>
		<category><![CDATA[Molybdenum]]></category>
		<category><![CDATA[South America]]></category>
		<category><![CDATA[Teck Resources Limited]]></category>

		<guid isPermaLink="false">http://www.mining.com/?p=317325</guid>
		<description><![CDATA[Teck Resources' epic $5.6 billion Quebrada Blanca copper-molybdenum mine expansion has taken another step ahead.

]]></description>
			<content:encoded><![CDATA[Teck Resources' epic $5.6 billion Quebrada Blanca copper-molybdenum mine expansion has taken another step ahead.

]]></content:encoded>
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		<title>Record revenues for Teck despite lower metals prices</title>
		<link>http://www.mining.com/2012/04/24/record-revenues-for-teck-despite-lower-metals-prices/</link>
		<comments>http://www.mining.com/2012/04/24/record-revenues-for-teck-despite-lower-metals-prices/#comments</comments>
		<pubDate>Tue, 24 Apr 2012 18:45:35 +0000</pubDate>
		<dc:creator>Andrew Topf</dc:creator>
				<category><![CDATA[Major news provider]]></category>
		<category><![CDATA[Mining News]]></category>
		<category><![CDATA[Mining News and Commentary]]></category>
		<category><![CDATA[British Columbia]]></category>
		<category><![CDATA[Canada]]></category>
		<category><![CDATA[Coal]]></category>
		<category><![CDATA[Copper]]></category>
		<category><![CDATA[Lead]]></category>
		<category><![CDATA[Molybdenum]]></category>
		<category><![CDATA[Oil Sands]]></category>
		<category><![CDATA[Oilsands]]></category>
		<category><![CDATA[Teck]]></category>
		<category><![CDATA[Zinc]]></category>

		<guid isPermaLink="false">http://www.mining.com/?p=313754</guid>
		<description><![CDATA[Teck Resources fought against lower metals prices to post record revenues for the first quarter. ]]></description>
			<content:encoded><![CDATA[<p>Teck Resources fought against lower metals prices to post record revenues for the first quarter.</p>
<p>The Vancouver-based diversified miner (TSX:TCK.B) said it earned $2.5 billion in Q1 compared to $2.3 billion a year ago. Profit attributable to shareholders was $218 million versus $461 million in the first quarter of 2011. Adjusted profit excluding the impact of a debt refinancing was $504 million, or 86 cents a share, against $450 million a year ago, or 76 cents per share.</p>
<p>"Our strong first quarter results demonstrate continued solid operating performance and the successful execution of our ongoing expansion programs, particularly in coal," President and CEO Don Lindsay said in a statement.</p>
<p>Coal production increased 46% to 6.3 million tonnes, bettering the production number in the first quarter of 2011 when Teck was dealing with a strike at the company's Elkview mine in British Columbia as well as bad weather.</p>
<p>Gross profits from coal, before depreciation and amortization, were up $168 million due to an 8% lift in coking coal prices.</p>
<p>Metals mined by Teck, on the other hand, were mostly down quarter to quarter. Copper dropped 14%, zinc and molybdenum were down a respective 16% and 18%, and lead was off 19%</p>
<p>Copper revenues were down from the last quarter ($753 million vs $773 million) while revenues from zinc were up ($595 million vs $574 million).</p>
<p>Teck was trending up about 2% on the Toronto main board on Wednesday.</p>
<p>Earlier this year Teck splashed CAD$435 million to acquire SilverBirch Energy Corp. with its Frontier and Equinox oilsands projects in northern Alberta, as well as the nearby Twin Lakes property.</p>
<p>The deal also spun out a new junior firm called SilverWillow Energy Corp to handle early-stage projects.</p>
<p>"The move also expands Teck's oilsands business and allows it to use the truck-and-shovel open-pit mining expertise it's honed from mining coal, copper and zinc," <a href="http://www.canadianbusiness.com/article/80925--teck-resources-posts-218-million-profit-for-first-quarter-with-record-revenue">Canadian Press reports</a>.</p>
<p><a href="http://www.mining.com/wp-content/uploads/2012/04/Q1-2012-Report.pdf">Link to the full Q1 Report</a></p>
<p>&nbsp;</p>
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		<title>Avanti pops 20% after securing $640 million loan for moly mine</title>
		<link>http://www.mining.com/2012/04/20/avanti-pops-20-after-securing-640-million-loan-for-moly-mine/</link>
		<comments>http://www.mining.com/2012/04/20/avanti-pops-20-after-securing-640-million-loan-for-moly-mine/#comments</comments>
		<pubDate>Fri, 20 Apr 2012 04:43:16 +0000</pubDate>
		<dc:creator>Andrew Topf</dc:creator>
				<category><![CDATA[Major news provider]]></category>
		<category><![CDATA[Mining News]]></category>
		<category><![CDATA[Mining News and Commentary]]></category>
		<category><![CDATA[British Columbia]]></category>
		<category><![CDATA[Canada]]></category>
		<category><![CDATA[Molybdenum]]></category>

		<guid isPermaLink="false">http://www.mining.com/?p=311867</guid>
		<description><![CDATA[Avanti shares rose 20% Thursday after the Vancouver company secured $640 million in financing for its Kitsault molybdenum mine. ]]></description>
			<content:encoded><![CDATA[<p>Avanti Mining shares rose 20% Thursday after the Vancouver company secured $640 million in financing for its Kitsault molybdenum mine.</p>
<p>The collection of lenders is comprised of UniCredit Bank AG, KfW IPEX-Bank GmbH, Export Development Canada, Korea Development Bank and Caterpillar Financial. Funding is conditional upon the granting of the necessary environmental permits.</p>
<p>"This is a key milestone for Avanti to be able to arrange a very substantial portion of the $850 million total financing needed for the Kitsault mine," said Avanti CFO  A.J. Ali.</p>
<p>Avanti (CVE:AVT) is developing the past-producing Kitsault molybdenum mine located north of Prince Rupert in British Columbia. Kitsault has proven and probable reserves of 232.5 million tonnes grading 0.081% Mo and containing 415.8 million pounds of molybdenum as outlined in the 2010 feasibility study.</p>
<p>Read the full news release below:</p>
<blockquote><p><strong>Vancouver, British Columbia:</strong> Avanti Mining Inc. (TSX-V: AVT) (OTC: AVNMF.PK) ("Avanti" or the "Company") is pleased to announce that it has entered into a mandate letter with five lenders for up to $640 million of project financing to develop the Kitsault molybdenum mine. The lending group is comprised of:</p>
<ul>
<li>UniCredit Bank AG ("UniCredit")</li>
<li>KfW IPEX-Bank GmbH ("KfW")</li>
<li>Export Development Canada ("EDC")</li>
<li>Korea Development Bank ("KDB"), and</li>
<li>Caterpillar Financial ("CAT")</li>
</ul>
<p>The mandate letter has preliminary approval of each of the proposed lenders but requires the completion of lenders due diligence, final credit approval and negotiation and execution of a loan agreement under Ontario law.</p>
<p>The key terms of the mandate letter are $560 million senior debt for a term of 12 years plus $80 million in the form of a standby cost over-run facility (if needed) with a term of 8 years. The interest rate is LIBOR (London Interbank Offer Rate) based, loan repayments are semi-annual and there is a prepayment provision of a portion of excess free cash flow.</p>
<p>The funding under this facility will be subject to the customary conditions precedent for a financing of this type including the issuance of an environmental certificate under the Canadian Environmental Assessment Act and the BC Environmental Assessment Act, the necessary permits required for construction and equity investment by Avanti and its strategic partner. There is no certainty that the transaction contemplated in the mandate letter will be successfully completed.</p>
<p>"This is a key milestone for Avanti to be able to arrange a very substantial portion of the $850 million total financing needed for the Kitsault mine," stated Mr. A.J. Ali, CFO. "It reflects significant financial risk mitigation for a strategic partner, shareholders and other stakeholders".</p>
<p>"I am delighted that Kitsault has entered into this mandate for project financing. This confirms our belief that Kitsault is a world class molybdenum deposit in a well known mining jurisdiction and can be developed in a manner that protects and supports the local communities," said Mr. Craig Nelsen, President &amp; CEO.</p>
<p>Avanti Mining Inc. is focused on the development of the past producing Kitsault Mine Project located north of Prince Rupert in British Columbia. In late 2010, Avanti completed the Kitsault Feasibility Study on the Kitsault Mine Project, dated December 15, 2010, prepared by AMEC Americas Limited that showed Proven and Probable Reserves of 232.5 million tonnes averaging 0.081% molybdenum. Ken Collison, P. Eng., Senior Vice President Project Development and a Qualified Persons as defined by NI 43-101, is responsible for the technical information in this press release.</p>
<p><strong>For further information, please visit <a href="http://www.avantimining.com/" target="_blank">www.avantimining.com</a>, or contact:</strong></p>
<p>A.J. Ali, Chief Financial Officer, 303-565-5491, extension 4472, or</p>
<p>Craig J. Nelsen, Chief Executive Officer, 303-565-5491, extension 4471</p>
<div align="center"><strong>Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.</strong><strong>Forward-Looking Statements:</strong> This news release contains certain forward-looking information concerning the business of Avanti Mining Inc. (the "Corporation"). All statements, other than statements of historical fact, in particular statements herein about the timing and advancement of the Corporation's Environmental Assessment application for the Kitsault Project completion of the debt financing, the obtaining of permits and the equity investment by Avanti and a strategic partner are forward-looking statements. These forward-looking statements are based on the opinions of management at the date the statements are made and are based on assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events to differ materially from those projected in forward-looking statements. Important factors that could cause actual results to differ materially from the Corporation's expectations include the need for cooperation of government agencies and native groups in the preparation of the EA application, the fact that the Corporation's employees and consultants may divide their time between other projects and other risks and uncertainties disclosed in the Corporation's Annual Information Form for the year ended December 31, 2010, which is available at www.sedar.com. The Corporation is under no obligation to update forward-looking statements if circumstances or management's opinions should change, excepting as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.</div>
</blockquote>
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		<title>Thompson Creek Announces Completion of the Endako Mill Expansion Project and	 Preliminary First Quarter 2012 Production and Cash Cost Results</title>
		<link>http://www.mining.com/2012/04/19/thompson-creek-announces-completion-of-the-endako-mill-expansion-project-and-preliminary-first-quarter-2012-production-and-cash-cost-results/</link>
		<comments>http://www.mining.com/2012/04/19/thompson-creek-announces-completion-of-the-endako-mill-expansion-project-and-preliminary-first-quarter-2012-production-and-cash-cost-results/#comments</comments>
		<pubDate>Thu, 19 Apr 2012 22:49:00 +0000</pubDate>
		<dc:creator>CNW Telbec &#124; Mining/Metals</dc:creator>
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		<description><![CDATA[Thompson Creek Metals Company Inc. (the "Company" or "Thompson Creek"), a growing, diversified, North American mining company, today announced the completion of the mill expansion project at the Endako mine. ]]></description>
			<content:encoded><![CDATA[<p>NYSE: TC<br />
TSX: TCM<br />
TSXV: TRX.WT</p>
<p align="left">DENVER, April 19, 2012 /CNW/ &#8211; Thompson Creek Metals Company Inc. (the "Company" or "Thompson Creek"), a growing, diversified, North American mining company, today announced the completion of the mill expansion project at the Endako mine.  As previously announced, commissioning of the Company's new SAG/Ball mill and rougher flotation circuit was completed in early January, followed by a successful ramp-up to commercial production beginningFebruary 1, 2012.  The remaining construction work on the regrind circuit and the pebble crusher was completed in late March.  The mill is meeting its design capacity throughput of approximately 55,000 tons per day.  Concentrate and recovery grades continue to improve and are expected to meet design capacity in the second quarter of 2012. The existing 45-year old mill at the site has been shut down and will be left on care and maintenance.</p>
<p align="left">For the first quarter of 2012, the Company expects to realize an operating loss primarily due to the start-up and commissioning of the new mill at the Endako mine.  First quarter 2012 results are expected to include the Company's 75% share of an aggregate lower-of-cost or market product inventory write-down at the Endako mine of approximately$12 million, approximately $3 million of the Company's share of Endako commissioning and start-up costs that will be expensed through operating expenses (previously included in the Company's share of total estimated capital expenditures of approximately C$500 million), together with significantly lower production, higher unit costs, higher unit depreciation and lower sales volumes and average realized prices compared to the first quarter of 2011.  Significant stripping costs at the Thompson Creek mine, associated with the ongoing mine pit pushbacks, have been incurred and are expected to continue in the first half of 2012, which also contributed to the expected operating loss for the first quarter.</p>
<p align="left">For the first quarter of 2012, the Company produced approximately 4.4 million pounds of molybdenum at an average cash cost of approximately $13.00 per pound produced (excluding commissioning and start-up costs at the Endako mine) and sold approximately 4.9 million pounds of molybdenum from its mines, for an average realized molybdenum sales price per pound for the quarter of approximately $14.75. For the first quarter of 2012, the Thompson Creek mine produced approximately 3.4 million pounds of molybdenum at a cash cost of approximately $10.35 per pound produced and the Company's share of production from the Endako mine was approximately 1 million pounds of molybdenum for the first quarter at a cash cost of approximately $22.00 per pound produced.</p>
<p align="left">"We are extremely pleased to have completed the construction of the new mill at the Endako mine and to have achieved design capacity throughput so quickly in the start-up process," said Kevin Loughrey, Chairman and Chief Executive Officer of Thompson Creek.  "Our dedicated employees, contractors, and suppliers performed a remarkable job commissioning the new mill and achieving design capacity throughput in approximately 20 days under extreme and difficult winter conditions, with temperatures at times reaching -40°C," added Mr. Loughrey.</p>
<p align="left">"The higher costs and lower production that we experienced during the commissioning and start-up phase are typical with projects like this, and although production was lower and costs were higher from the Endako mine in the first quarter of 2012,  through continued optimization we  expect to make up for the lower production throughout the remainder of 2012 and to meet our previously announced 2012 production guidance from the Endako mine of approximately 14 to 15 million pounds of molybdenum on a 100% basis, or 10 to 11 million pounds for the Company's 75% share," said Mr. Loughrey.  "We anticipate meeting our total 2012 production guidance of approximately 26 to 28 million pounds of molybdenum; however, due to inflationary pressures on diesel fuel, consumables, and energy, we are currently tracking to the higher range of the Company's current 2012 average cash cost guidance of approximately$7.75 to $9.00 per pound produced.  If the current inflationary pressures continue, our costs will continue to increase and potentially rise above the current guidance," added Mr. Loughrey.</p>
<p align="left"><span style="text-decoration: underline;"><strong>About Thompson Creek Metals Company Inc.</strong></span></p>
<p align="left">Thompson Creek Metals Company Inc. is a growing, diversified North American mining company.   The Company produces molybdenum at its 100%-owned Thompson Creek Mine in Idaho and Langeloth Metallurgical Facility in Pennsylvania and its 75%-owned Endako Mine in northern British Columbia.  The Company also is in the process of constructing the Mt. Milligan copper-gold mine in central British Columbia, which is expected to commence production in 2013.  The Company's development projects include the Berg copper-molybdenum-silver property and the Davidson molybdenum property, both located in central British Columbia.  Thompson Creek has approximately 1,100 employees.  Its principal executive office is in Denver, Colorado and its Canadian administrative office is inVancouver, British Columbia.  More information is available at <a href="http://www.thompsoncreekmetals.com/" target="_blank">www.thompsoncreekmetals.com</a>.</p>
<p align="left"><span style="text-decoration: underline;"><strong>Cautionary Note Regarding Forward-Looking Statements</strong></span></p>
<p align="left">Certain statements in this news release (including information incorporated by reference) are "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and applicable Canadian securities legislation.  These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions.  Our forward looking statements include, without limitation: estimates of future mineral production and sales, including statements with respect to expected production from the Endako mine; expected concentrate and  recovery grades; estimates of future capital expenditures and other cash needs for operations; statements as  to the projected development of Mt. Milligan and other projects, including expected production commencement dates; statements regarding future earnings and operating results; estimates of future production costs and other expenses for specific operations and on a consolidated basis;  estimates of mineral reserves and resources, including estimated mine life and annual production; estimates as to commodity prices; and statements with respect to the future financial or operating performance of Thompson Creek or its subsidiaries and its projects.</p>
<p align="left">Where we express an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis.  However, our forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from future results expressed, projected or implied by those forward-looking statements.  Important factors that could cause actual results to differ materially from those described in such forward-looking statements include mining and processing conditions, construction delays and related disruptions in production, costs of capital expenditures, industrial accidents, weather and geological conditions, permitting and regulatory matters (including penalties, fines, sanctions and shutdowns) and the other risks described in the section entitled "Risk Factors" in Thompson Creek's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other documents filed on EDGAR at <a href="http://www.sec.gov/" target="_blank">www.sec.gov</a> and on SEDAR at <a href="http://www.sedar.com/" target="_blank">www.sedar.com</a>.  Although we have attempted to identify those factors that could cause actual results or events to differ from those described in such forward-looking statements, there may be other factors that cause results or events to differ from those anticipated, estimated or intended.  Many of these factors are beyond TCM's ability to control or predict.  Given these uncertainties, the reader is cautioned not to place undue reliance on our forward-looking statements.  We undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events, or otherwise.</p>
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		<title>ABB wins major grinding drive systems order for Cerro Verde expansion in Peru</title>
		<link>http://www.mining.com/2012/03/29/abb-wins-major-grinding-drive-systems-order-for-cerro-verde-expansion-in-peru/</link>
		<comments>http://www.mining.com/2012/03/29/abb-wins-major-grinding-drive-systems-order-for-cerro-verde-expansion-in-peru/#comments</comments>
		<pubDate>Thu, 29 Mar 2012 15:18:11 +0000</pubDate>
		<dc:creator>ABB Group</dc:creator>
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		<guid isPermaLink="false">http://www.mining.com/?p=297954</guid>
		<description><![CDATA[ABB, a power and automation technology group was recently contracted to supply gearless mill drives (GMDs) for six ball mills and twin-drive systems for eight high pressure grinding rolls (HPGRs) at Cerro Verde copper mine in Peru. ]]></description>
			<content:encoded><![CDATA[<div>ABB, a power and automation technology group was recently contracted to supply gearless mill drives (GMDs) for six ball mills and twin-drive systems for eight high pressure grinding rolls (HPGRs) at Cerro Verde copper mine in Peru. The two contracts were awarded in the first quarter of 2012. Deliveries are scheduled for Q4 2013 and Q1 2014.</div>
<div></div>
<div>ABB?s scope of supply includes six 22 MW GMD systems for 27-foot ball mills comprising of transformers, ring motors and complete containerized electrical houses as well as eight 2x2500kW twin-drive systems for HPGRs that include squirrel cage induction motors, transformers and ACS1000 frequency converters.</div>
<div></div>
<div>Known as the most efficient systems for grinding mills, ABB?s powerful, state-of-the-art GMDs help mine operators improve overall productivity while providing reliable equipment performance and flexibility.</div>
<div></div>
<div>Each of the six GMDs will be equipped with two of ABB's unique rotating air gap sensors, which together with the 12 standard air gap sensors on the stator will give a true 360 degree overview of the stator and rotor.  Whereas the HPGR drive systems work in accordance with the high demanding requirements for such machines without using tachometers or encoders.</div>
<div></div>
<div>ABB already supplied mine electrification and various drive systems, also including GMDs and HPGR drives, for the previous greenfield Cerro Verde project in 2006.</div>
<div></div>
<div>ABB (www.abb.com) is a leader in power and automation technologies that enable utility and industry customers to improve their performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs about 135,000 people.</div>
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		<title>Entree Gold upgrades and expands resources at Ann Mason</title>
		<link>http://www.mining.com/2012/03/27/entree-gold-upgrades-and-expands-resources-at-ann-mason/</link>
		<comments>http://www.mining.com/2012/03/27/entree-gold-upgrades-and-expands-resources-at-ann-mason/#comments</comments>
		<pubDate>Tue, 27 Mar 2012 18:00:00 +0000</pubDate>
		<dc:creator>Marketwire - Mining and Metals</dc:creator>
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		<guid isPermaLink="false">http://www.mining.com/?guid=25f41f97266a20fccf2156a0d0877fa1</guid>
		<description><![CDATA["With over 5 billion pounds of copper estimated at the indicated level and another 3.5 billion pounds estimated at the inferred level, Ann Mason should now be recognized as a significant deposit in one of the best mining jurisdictions in the world."]]></description>
			<content:encoded><![CDATA[<p>Indicated Resource Contains 5.4 Billion Pounds of Copper and Inferred Resource Contains 3.5 Billion Pounds of Copper</p>
<p><strong>VANCOUVER, BRITISH COLUMBIA&#8211;(Marketwire &#8211; March 27, 2012) -</strong> Entrée Gold Inc. (TSX:ETG)(NYSE Amex:EGI)(FRANKFURT:EKA) ("Entrée" or the "Company") is pleased to release an updated Canadian National Instrument 43-101 ("NI 43-101") compliant mineral resource estimate for the Ann Mason deposit at Yerington, Nevada, which includes the first reported indicated resources for the deposit. The updated resource estimate converts a large percentage of the previous inferred mineral resources to an indicated category and expands the overall size of the deposit. These upgraded resources will form the basis for a Preliminary Economic Assessment ("PEA") planned for completion in the second half of 2012.</p>
<p><strong>Key Points</strong></p>
<ul>
<li><strong>Upgraded and expanded resources:</strong>
<ul>
<li><strong><strong>0.3% Copper Cut-off:</strong></strong>&nbsp;
<ul>
<li><strong>Indicated Resources</strong> - 640 million tonnes averaging 0.41% copper equivalent ("CuEq"), containing approximately 5.4 billion pounds of copper and 100 million pounds of molybdenum</li>
<li><strong>Inferred Resources</strong> - 444 million tonnes averaging 0.38% CuEq, containing approximately 3.5 billion pounds of copper and 40 million pounds of molybdenum</li>
</ul>
</li>
</ul>
</li>
</ul>
<ul>
<ul>
<li><strong><strong>0.2% Copper Cut-off:</strong></strong>&nbsp;
<ul>
<li><strong>Indicated Resources</strong> - 1.115 billion tonnes grading 0.35% CuEq containing approximately 8.04 billion pounds of copper and 160 million pounds of molybdenum</li>
<li><strong>Inferred Resources</strong> - 1.131 billion tonnes grading 0.31% CuEq containing approximately 7.31 billion pounds of copper and 110 million pounds of molybdenum</li>
</ul>
</li>
</ul>
</ul>
<ul>
<li>The boundaries of the deposit have been expanded to the north, west, southwest and to depth. Mineralization remains open and current drilling is seeking to further extend the deposit.</li>
<li>The updated resource estimate converts approximately 75% of the previous inferred mineral resources to the indicated category.</li>
</ul>
<p>The previous inferred resource estimate for the Ann Mason deposit was 810 million tonnes grading 0.40% copper, estimated to contain over 7 billion pounds of copper using a 0.3% copper cut-off (see news release of January 26, 2010). Comparable moderate grade porphyry deposits in the western US have been modeled using a 0.2% copper cut-off in recent years.</p>
<p>Greg Crowe, President and CEO of Entrée commented, "Our belief in the potential of Ann Mason has been strengthened with this updated and upgraded resource estimate, which converts a substantial amount of previous inferred resources to indicated resources. With over 5 billion pounds of copper estimated at the indicated level and another 3.5 billion pounds estimated at the inferred level, Ann Mason should now be recognized as a significant deposit in one of the best mining jurisdictions in the world. The Yerington district is a well-mineralized porphyry copper camp serviced by excellent infrastructure, which contains five known major deposits including the nearby historic Yerington Mine, which produced over 1.8 billion pounds of copper. Recent exploration by several companies in the district, including Entrée, has defined total resources and reserves in excess of 20 billion pounds of copper."</p>
<div>
<table>
<tbody>
<tr>
<td colspan="11"><strong>Table 1. Ann Mason Deposit Indicated and Inferred Resources &#8211; March 6, 2012</strong></td>
</tr>
<tr>
<td></td>
<td colspan="10"><strong>Indicated</strong></td>
</tr>
<tr>
<td><strong>Cut-off<br />
(% Cu)</strong></td>
<td>Tonnes<br />
(million)</td>
<td>Cu (%)</td>
<td></td>
<td>Mo (%)</td>
<td></td>
<td>lb Cu<br />
(billion)</td>
<td></td>
<td>lb Mo<br />
(billion)</td>
<td></td>
<td>CuEq<sup>*<br />
</sup>(%)</td>
</tr>
<tr>
<td>0.2</td>
<td>1,115</td>
<td>0.33</td>
<td></td>
<td>0.007</td>
<td></td>
<td>8.04</td>
<td></td>
<td>0.16</td>
<td></td>
<td>0.35</td>
</tr>
<tr>
<td>0.25</td>
<td>904</td>
<td>0.35</td>
<td></td>
<td>0.007</td>
<td></td>
<td>6.98</td>
<td></td>
<td>0.13</td>
<td></td>
<td>0.38</td>
</tr>
<tr>
<td><strong>0.3</strong></td>
<td><strong>640</strong></td>
<td><strong>0.38</strong></td>
<td></td>
<td><strong>0.007</strong></td>
<td></td>
<td><strong>5.38</strong></td>
<td></td>
<td><strong>0.10</strong></td>
<td></td>
<td><strong>0.41</strong></td>
</tr>
<tr>
<td>0.35</td>
<td>391</td>
<td>0.42</td>
<td></td>
<td>0.007</td>
<td></td>
<td>3.60</td>
<td></td>
<td>0.06</td>
<td></td>
<td>0.45</td>
</tr>
<tr>
<td>0.4</td>
<td>201</td>
<td>0.46</td>
<td></td>
<td>0.008</td>
<td></td>
<td>2.04</td>
<td></td>
<td>0.03</td>
<td></td>
<td>0.49</td>
</tr>
</tbody>
</table>
</div>
<div>
<table>
<tbody>
<tr>
<td></td>
<td colspan="10"><strong>Inferred</strong></td>
</tr>
<tr>
<td><strong>Cut-off<br />
(% Cu)</strong></td>
<td>Tonnes<br />
(million)</td>
<td>Cu (%)</td>
<td></td>
<td>Mo (%)</td>
<td></td>
<td>lb Cu<br />
(billion)</td>
<td></td>
<td>lb Mo<br />
(billion)</td>
<td></td>
<td>CuEq<sup>*<br />
</sup>(%)</td>
</tr>
<tr>
<td>0.2</td>
<td>1,131</td>
<td>0.29</td>
<td></td>
<td>0.004</td>
<td></td>
<td>7.31</td>
<td></td>
<td>0.11</td>
<td></td>
<td>0.31</td>
</tr>
<tr>
<td>0.25</td>
<td>780</td>
<td>0.32</td>
<td></td>
<td>0.004</td>
<td></td>
<td>5.56</td>
<td></td>
<td>0.07</td>
<td></td>
<td>0.34</td>
</tr>
<tr>
<td><strong>0.3</strong></td>
<td><strong>444</strong></td>
<td><strong>0.36</strong></td>
<td></td>
<td><strong>0.004</strong></td>
<td></td>
<td><strong>3.54</strong></td>
<td></td>
<td><strong>0.04</strong></td>
<td></td>
<td><strong>0.38</strong></td>
</tr>
<tr>
<td>0.35</td>
<td>215</td>
<td>0.40</td>
<td></td>
<td>0.004</td>
<td></td>
<td>1.90</td>
<td></td>
<td>0.02</td>
<td></td>
<td>0.42</td>
</tr>
<tr>
<td>0.4</td>
<td>82</td>
<td>0.45</td>
<td></td>
<td>0.005</td>
<td></td>
<td>0.82</td>
<td></td>
<td>0.01</td>
<td></td>
<td>0.47</td>
</tr>
</tbody>
</table>
</div>
<div>
<table>
<tbody>
<tr>
<td>* Copper equivalent ("CuEq") is calculated using assumed metal prices of: copper US$2.50/lb and molybdenum US$15.00/lb, and assumed metallurgical recoveries relative to copper of molybdenum 70%.</td>
</tr>
</tbody>
</table>
</div>
<p>Mr. Crowe further noted, "Ann Mason bears the hallmark of a typical large copper-molybdenum porphyry deposit, comparable to other deposits throughout western North America that are either in production or are currently being financed to come into production. An expected ongoing long-term demand for copper, accompanied by a tightening supply picture should favour deposits like Ann Mason. We have initiated a PEA based on this resource estimate, which will incorporate results from on-going drilling, additional metallurgical test results from four composite samples and additional re-assay results of historic core samples.</p>
<p>"The inclusion of the historical core re-assay data will strengthen modeling of the molybdenum domain and allow for the inclusion of gold and silver values in future resource estimates. The original work completed by Anaconda did not include the systematic analysis of these important elements. Metallurgical recoveries on testing completed to date have been encouraging and baseline environmental studies have also been initiated."</p>
<p><em><strong>Technical Discussion</strong></em></p>
<p>Entrée contracted Quantitative Group Pty Ltd ("QG") based in Perth, Australia to prepare the updated mineral resource estimate. Further technical details regarding the estimate are described in a report titled "<em>Technical Report and Updated Mineral Resource Estimate, Ann Mason Project, Nevada, USA</em>" ("AMTR12"), which will be available on SEDAR and on the Company website at <a href="http://www.entreegold.com/">www.entreegold.com</a>.</p>
<p>Approximately 30,000 metres of new drilling in 27 holes were analyzed and evaluated in conjunction with 50,200 metres (119 holes) of historic drilling to prepare this resource estimate. This estimate also includes re-assay results from portions of 23 holes sampled by PacMag Metals in 2006 and portions of two holes sampled by Entrée in 2012. Deposit geology, structure, alteration and sulphide zoning have been reinterpreted and modelled based on the integration of historic data with current drilling results.</p>
<p>The key estimation parameters used by QG are as follows:</p>
<ul>
<li>Copper was interpolated using a single estimation domain created using an approximate 0.15% copper threshold. A similar but smaller domain was built for molybdenum using a 0.005% threshold.</li>
<li>Assays were composited to 5 metres in line.</li>
<li>Copper and molybdenum variograms show that there is not a high degree of anisotropy; there is a moderate nugget effect and ranges up to 300 metres were modelled.</li>
<li>Inside the copper domain, composites above 2% were given a restricted range of influence (40 metres). For molybdenum, a similar strategy was applied at 0.01% molybdenum.</li>
<li>Estimation of 40 x 40 x 15 metre blocks was by Ordinary Kriging.</li>
<li>A single bulk density value was used inside the copper domain (2.59) and two average density values outside that domain (2.61 in quartz monzonite and 2.57 in granodiorite).</li>
<li>The resource was classified into inferred or indicated using a number of factors, taking into account confidence in the model, data spacing and various complementary geostatistical parameters, as follows:
<ul>
<li>Indicated: Material inside the 0.15% copper domain, with a spacing of approximately 100 x 75 metres or less and a slope of regression (a measure of conditional bias) above 0.7.</li>
<li>Inferred: Material inside the 0.15% copper domain with a spacing of &gt;100 metres but &lt; 175 metres (i.e. the rest of the copper domain).</li>
<li>Not Classified: All material outside the 0.15% copper domain.</li>
</ul>
</li>
<li>The Ann Mason mineral resource has not been constrained by an economic pit shell, but QG's review of the geometry and depth of the deposit, as well as the grade distribution and cut-off grades and comparison of these to similar-style deposits world-wide demonstrates that the inferred and indicated material has reasonable prospects for eventual economic extraction.</li>
</ul>
<p>Consistency of mineralization is an important factor in being able to classify a large percentage of the overall deposit in the indicated mineral resource category. All twenty-seven (27) holes completed by Entrée intercepted thick intervals grading 0.30% copper or higher. In addition, the confidence in the continuity of mineralization from hole to hole has increased as in-fill results have been received and step-out drilling has proceeded westward. Several sizeable intercepts grading over 0.5% copper have been encountered.</p>
<p><em><strong>Advancing to PEA</strong></em></p>
<p>A key component for advancing to a PEA was the completion of this resource estimate and finalization of AMTR12. AGP Mining Consultants Inc., Toronto ("AGP") has been contracted to prepare the PEA. The large tonnage of indicated and inferred mineral resources reported in this estimate at the 0.2% copper cut-off will be the basis for mining and processing scenarios evaluated in the PEA.</p>
<p>AGP is also preparing an independent third party resource estimate for the Blue Hill oxide-copper deposit for possible incorporation into the PEA.</p>
<p>The Company has forwarded two additional composites of core samples from the pyrite-chalcopyrite domain at Ann Mason to METCON Research in Tucson for additional metallurgical testing. This round of testing will help further refine flotation parameters to be used in the PEA.</p>
<p>Additional quarter core samples from 22 selected historic drill holes have been submitted for analysis, however, results are still pending.</p>
<p>Through a combination of staking and purchase agreements, Entrée has recently acquired or entered into agreements to acquire a total of 72 unpatented and patented lode claims within, or contiguous to the boundaries of its Ann Mason Project for aggregate costs of US$3,618,853 and 40,000 common shares.</p>
<p><strong>QUALITY ASSURANCE AND CONTROL</strong></p>
<p>Split core samples were prepared and analyzed at Skyline Assayers and Laboratories in Tucson, Arizona or at ALS Chemex in Vancouver, BC. Prepared standards, blanks and duplicates are inserted at the project site to monitor the quality control of the assay data. Additional check assays are completed at Acme Analytical Laboratories in Vancouver, BC. Drill intersections described in this news release are based on core lengths and may not reflect the true width of mineralization.</p>
<p><strong>QUALIFIED PERSONS</strong></p>
<p>Scott Jackson, F. AusIMM, Principal Consultant and Director with QG, and Robert Cinits, P.Geo., Director, Technical Services with Entrée are Qualified Persons as defined by NI 43-101. Scott Jackson and Robert Cinits supervised the preparation of the technical information in this release.</p>
<p><strong>ABOUT ENTRÉE GOLD INC.</strong></p>
<p>Entrée Gold Inc. is a Canadian mineral exploration company focused on the worldwide discovery and development of copper and gold prospects. The Company has significant interests in three key copper porphyry deposits: the Hugo North Extension and the Heruga deposits in Mongolia, and the Ann Mason deposit, located near Yerington, Nevada.</p>
<p>The Lookout Hill property in Mongolia completely surrounds the Oyu Tolgoi mining license held by Oyu Tolgoi LLC ("OTLLC"), a subsidiary of Ivanhoe Mines and the Government of Mongolia. A portion of Lookout Hill (Shivee West) is 100% owned by Entrée. The remainder is subject to a joint venture with OTLLC. The joint venture property hosts the Hugo North Extension copper-gold deposit and the Heruga copper-gold-molybdenum deposit. The deposits are included in the larger Oyu Tolgoi mining complex &#8211; Rio Tinto is the project manager. Excellent exploration potential remains on the property for the discovery of additional mineralized zones.</p>
<p>In North America, the Company is exploring for porphyry-related copper systems in Nevada, and New Mexico. The primary North American asset is the Ann Mason property. The Ann Mason deposit hosts an indicated mineral resource estimate of 640 million tonnes averaging 0.41% CuEq, containing approximately 5.4 billion pounds of copper and 100 million pounds of molybdenum and an inferred mineral resource estimate of 444 million tonnes grading 0.38% CuEq, containing approximately 3.5 billion pounds of copper and 40 million pounds of molybdenum, using a 0.30% copper cut-off. The property has considerable potential, both to increase the size of the Ann Mason deposit and to discover additional targets.</p>
<p>In addition to being a politically stable jurisdiction and close to infrastructure, the Yerington copper camp has seen significant historic copper production along with a resurgence of exploration activity and now hosts over 20 billion pounds of copper in several deposits owned by a diverse group of companies.</p>
<p>The Company is also seeking additional opportunities to utilize its expertise in exploring for deep and/or concealed ore deposits. Rio Tinto and Ivanhoe Mines are major shareholders of Entrée, holding approximately 13% and 11% of issued and outstanding shares, respectively.</p>
<p><em>This News Release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995, with respect to the potential for discovery of additional mineralized zones in Mongolia, the potential for expansion of the Ann Mason deposit and the discovery of additional targets on the Ann Mason Project, the inclusion of metallurgical test results and re-assay results of historic core samples in a Preliminary Economic Assessment, plans to prepare a Preliminary Economic Assessment on the Ann Mason Project, the potential for inclusion of gold and silver values in future resource estimates, the preparation of an independent resource estimate on the Blue Hill target, and plans for future exploration and/or development programs and budgets. These forward-looking statements are made as of the date of this news release. Users of forward-looking statements are cautioned that actual results may vary from the forward-looking statements contained herein. While the Company has based these forward-looking statements on its expectations about future events as at the date that such statements were prepared, the statements are not a guarantee of the Company's future performance and are subject to risks, uncertainties, assumptions and other factors which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements.</em></p>
<p><em>Such factors and assumptions include, among others, that the size, grade and continuity of deposits, and the resource estimates, have been interpreted correctly from exploration results, that the results of preliminary test work are indicative of what the results of future test work will be, the effects of general economic conditions, the prices of copper, gold and molybdenum, changing foreign exchange rates and actions by government authorities, uncertainties associated with legal proceedings and negotiations and misjudgements in the course of preparing forward-looking statements. In addition, there are known and unknown risk factors which could cause the Company's actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Known risk factors are described in the Company's Annual Information Form for the financial year ended December 31, 2010, dated March 25, 2011 filed with the Canadian Securities Administrators and available at <a href="http://www.sedar.com/">www.sedar.com</a>. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company is under no obligation to update or alter any forward-looking statements except as required under applicable securities laws.</em></p>
<div></div>
<p>&nbsp;</p>
<div id="ctl00_p_wpcpageplaceholder_re1_contact_information">
<div>
<div id="newsroom-contact-top"></div>
<div id="newsroom-contact-middle">
<h1>Contact Information</h1>
<ul>
<li>
<div>Entree Gold Inc.<br />
Monica Hamm<br />
Manager, Investor Relations<br />
604-687-4777 or Toll Free: 866-368-7330<br />
604-687-4770 (FAX)<br />
mhamm@entréegold.com<br />
<a href="http://www.entreegold.com/" target="_blank">www.entreegold.com</a></div>
</li>
</ul>
</div>
</div>
</div>
]]></content:encoded>
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		<title>Lumina steps-up drilling after step-out holes hit more copper, gold, moly in Argentina</title>
		<link>http://www.mineweb.com/mineweb/view/mineweb/en/page66?oid=148229&#038;sn=Detail</link>
		<comments>http://www.mineweb.com/mineweb/view/mineweb/en/page66?oid=148229&#038;sn=Detail#comments</comments>
		<pubDate>Tue, 27 Mar 2012 16:35:07 +0000</pubDate>
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		<description><![CDATA[Lumina copper hits its longest copper-gold-moly intercept to date and, more importantly, it sees significant mineralization in wide step-out drilling.]]></description>
			<content:encoded><![CDATA[Lumina copper hits its longest copper-gold-moly intercept to date and, more importantly, it sees significant mineralization in wide step-out drilling.]]></content:encoded>
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		<title>Geologix Explorations Inc.: New Tepal Resource Estimate Increases Measured &amp; Indicated Tonnes by 324%</title>
		<link>http://www.mining.com/2012/03/27/geologix-explorations-inc-new-tepal-resource-estimate-increases-measured-indicated-tonnes-by-324/</link>
		<comments>http://www.mining.com/2012/03/27/geologix-explorations-inc-new-tepal-resource-estimate-increases-measured-indicated-tonnes-by-324/#comments</comments>
		<pubDate>Tue, 27 Mar 2012 11:00:00 +0000</pubDate>
		<dc:creator>Marketwire - Mining and Metals</dc:creator>
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		<description><![CDATA[Geologix Explorations Inc. ("Geologix", the "Company") (TSX:GIX)(FRANKFURT:GF6)(BERLIN:GF6)(MUN:GF6)(STUT:GF6) is pleased to announce an updated resource estimate for its Tepal Project in Michoacán State, Mexico which incorporates the results from drilling 41,247.5 metres ("m") at the North, South, and Tizate zones during 2011. ]]></description>
			<content:encoded><![CDATA[<p><strong>VANCOUVER, BRITISH COLUMBIA&#8211;(Marketwire &#8211; March 27, 2012) -</strong> Geologix Explorations Inc. ("Geologix", the "Company") (TSX:GIX)(FRANKFURT:GF6)(BERLIN:GF6)(MUN:GF6)(STUT:GF6) is pleased to announce an updated resource estimate for its Tepal Project in Michoacán State, Mexico which incorporates the results from drilling 41,247.5 metres ("m") at the North, South, and Tizate zones during 2011. The updated resource estimate was completed by Micon International Ltd. ("Micon") and reports a 324% tonnage increase in the resource Measured and Indicated categories compared to the previous resource of March 16, 2011. A pre-feasibility study utilizing the results from this March 2012 resource estimate is targeted to be completed by the end of the second quarter of 2012.</p>
<p>Resources are reported within three Whittle optimized resource pit shells utilizing metal prices, metallurgical recoveries, operating costs and pit slope angles (details below). Results from the update resource estimate are as follows:</p>
<div>
<table>
<tbody>
<tr>
<td><strong>Updated Total Tepal Project Resource Estimate</strong><strong><sup>1</sup></strong> <strong>- March 2012</strong></td>
</tr>
<tr>
<td></td>
</tr>
</tbody>
</table>
</div>
<div>
<table>
<tbody>
<tr>
<td>Category</td>
<td>Tonnes<br />
(t)</td>
<td>Au<br />
(g/t)</td>
<td>Cu<br />
(%)</td>
<td>Ag<br />
(g/t)</td>
<td>Mo<br />
(%)</td>
<td>Au<br />
(oz.)</td>
<td>Cu<br />
(lbs)</td>
<td>AuEq<sup>2</sup><br />
(oz.)</td>
</tr>
<tr>
<td>Measured</td>
<td>34,100,000</td>
<td>0.48</td>
<td>0.25</td>
<td>0.95</td>
<td>0.002</td>
<td>528,000</td>
<td>185,000,000</td>
<td>1,037,000</td>
</tr>
<tr>
<td>Indicated</td>
<td>153,700,000</td>
<td>0.26</td>
<td>0.19</td>
<td>1.67</td>
<td>0.004</td>
<td>1,276,000</td>
<td>628,000,000</td>
<td>3,003,000</td>
</tr>
<tr>
<td>Meas &amp; Ind</td>
<td>187,800,000</td>
<td>0.30</td>
<td>0.20</td>
<td>1.54</td>
<td>0.004</td>
<td>1,804,000</td>
<td>813,000,000</td>
<td>4,040,000</td>
</tr>
<tr>
<td>Inferred</td>
<td>35,700,000</td>
<td>0.16</td>
<td>0.15</td>
<td>1.68</td>
<td>0.006</td>
<td>182,000</td>
<td>120,000,000</td>
<td>512,000</td>
</tr>
</tbody>
</table>
</div>
<div>
<table>
<tbody>
<tr>
<td></td>
</tr>
<tr>
<td><em>Au = gold, Cu = copper, Ag = silver, Mo = molybdenum, g/t = grams per tonne, % = percent, oz. = ounces, lbs. = pounds</em></td>
</tr>
<tr>
<td><em>(1) </em><em>The in situ resource stated in the table conforms to CIM guidelines for reasonable potential for economic extraction and is not to be confused as reserves. <em>Resource numbers above are rounded to nearest 100,000 tonnes, 1,000 oz Au, 1,000,000 lbs Cu and 1,000 oz. AuEq</em></em></td>
</tr>
<tr>
<td>(2) <em>AuEq = gold equivalent and is calculated using gold and copper only using $1000 Au, $2.75 Cu metal prices (AuEq = (lbs. Cu x $2.75/$1000) + Au oz.). All dollar values stated are $USD.</em></td>
</tr>
</tbody>
</table>
</div>
<p>For comparison with the March 2011 resource estimate please see the Company's March 16, 2011 News Release at <a href="http://www.geologix.ca/">www.geologix.ca</a>(<a href="http://www.geologix.ca/s/NewsReleases.asp?ReportID=447597&amp;_Type=News&amp;_Title=New-Resource-Estimate-Increases-Indicated-and-Inferred-Tonnes-at-Tepal-Proj">http://www.geologix.ca/s/NewsReleases.asp?ReportID=447597&amp;_Type=News&amp;_Title=New-Resource-Estimate-Increases-Indicated-and-Inferred-Tonnes-at-Tepal-Proj</a>).</p>
<p>The March 2012 resource estimate now includes results for Ag and Mo in the Tepal North and South Zones which were not consistently assayed in historic drill programs. Infill drilling and the re-assaying of 1688 historic pulps supplied sufficient data to permit Ag and Mo to be estimated for these zones.</p>
<p>Dunham Craig, President &amp; CEO stated, "Our 2011 work exceeded our target expectations. The 2011 program was designed to drill the existing resource to Measured and Indicated category for inclusion in a prefeasibility study and to test for expansion in areas that were open. We are very pleased with both results and areas remain open for drill testing to examine potential further inclusion in a future definitive feasibility study. This coupled with the recently released new and untested exploration targets, requires the Company to engage in a 2012 drill program to further define the property's potential."</p>
<p>The resources for the three main zones are shown in the tables below.</p>
<div>
<table>
<tbody>
<tr>
<td><strong>North Zone &#8211; Resource Estimate</strong><strong><sup>1</sup></strong> <strong>- March 2012</strong></td>
</tr>
<tr>
<td></td>
</tr>
</tbody>
</table>
</div>
<div>
<table>
<tbody>
<tr>
<td>Category</td>
<td>Tonnes</td>
<td>Au<br />
(g/t)</td>
<td>Cu<br />
(%)</td>
<td>Ag<br />
(g/t)</td>
<td>Mo<br />
(%)</td>
<td>Au<br />
(oz)</td>
<td>Cu<br />
(lbs)</td>
<td>AuEq<sup>2</sup><br />
(oz)</td>
</tr>
<tr>
<td>Measured</td>
<td>14,100,000</td>
<td>0.50</td>
<td>0.29</td>
<td>0.78</td>
<td>0.002</td>
<td>228,000</td>
<td>89,000,000</td>
<td>473,000</td>
</tr>
<tr>
<td>Indicated</td>
<td>55,300,000</td>
<td>0.30</td>
<td>0.21</td>
<td>1.01</td>
<td>0.002</td>
<td>533,000</td>
<td>252,000,000</td>
<td>1,226,000</td>
</tr>
<tr>
<td>Meas &amp; Ind</td>
<td>69,400,000</td>
<td>0.34</td>
<td>0.22</td>
<td>0.96</td>
<td>0.002</td>
<td>761,000</td>
<td>341,000,000</td>
<td>1,699,000</td>
</tr>
<tr>
<td>Inferred</td>
<td>900,000</td>
<td>0.22</td>
<td>0.21</td>
<td>1.21</td>
<td>0.003</td>
<td>7,000</td>
<td>4,000,000</td>
<td>18,000</td>
</tr>
</tbody>
</table>
</div>
<div>
<table>
<tbody>
<tr>
<td></td>
</tr>
<tr>
<td></td>
</tr>
<tr>
<td><strong>South Zone &#8211; Resource Estimate</strong><strong><sup>1</sup></strong> <strong>- March 2012</strong></td>
</tr>
<tr>
<td></td>
</tr>
</tbody>
</table>
</div>
<div>
<table>
<tbody>
<tr>
<td>Category</td>
<td>Tonnes</td>
<td>Au<br />
(g/t)</td>
<td>Cu<br />
(%)</td>
<td>Ag<br />
(g/t)</td>
<td>Mo<br />
(%)</td>
<td>Au<br />
(oz)</td>
<td>Cu<br />
(lbs)</td>
<td>AuEq<sup>2</sup><br />
(oz)</td>
</tr>
<tr>
<td>Measured</td>
<td>20,000,000</td>
<td>0.47</td>
<td>0.22</td>
<td>1.07</td>
<td>0.002</td>
<td>300,000</td>
<td>96,000,000</td>
<td>564,000</td>
</tr>
<tr>
<td>Indicated</td>
<td>21,000,000</td>
<td>0.45</td>
<td>0.20</td>
<td>1.17</td>
<td>0.002</td>
<td>305,000</td>
<td>91,000,000</td>
<td>555,000</td>
</tr>
<tr>
<td>Meas &amp; Ind</td>
<td>41,000,000</td>
<td>0.46</td>
<td>0.21</td>
<td>1.12</td>
<td>0.002</td>
<td>605,000</td>
<td>187,000,000</td>
<td>1,119,000</td>
</tr>
<tr>
<td>Inferred</td>
<td>400,000</td>
<td>0.40</td>
<td>0.16</td>
<td>0.95</td>
<td>0.002</td>
<td>5,000</td>
<td>2,000,000</td>
<td>11,000</td>
</tr>
</tbody>
</table>
</div>
<p>Below the South Zone pit shell, indicated and inferred material has been identified that has not had economic parameters applied and is not included in the resource estimate. This material totals 4.8 million tonnes grading 0.57 g/t Au, 0.27% Cu, 1.12 g/t Ag and 0.003% Mo at a $20.00 equivalent cut-off, which is considered a preliminary suitable equivalent value that could potentially give a reasonable prospect for economic extraction. However, an underground economic study needs to be completed to identify the appropriate cut-off. The material remains open in several directions and requires further drilling to identify size, grade and reasonable economic potential for inclusion into stated mineral resources.</p>
<div>
<table>
<tbody>
<tr>
<td><strong>Tizate Zone &#8211; Resource Estimate</strong><strong><sup>1</sup></strong> <strong>- March 2012</strong></td>
</tr>
<tr>
<td></td>
</tr>
</tbody>
</table>
</div>
<div>
<table>
<tbody>
<tr>
<td>Category</td>
<td>Tonnes</td>
<td>Au<br />
(g/t)</td>
<td>Cu<br />
(%)</td>
<td>Ag<br />
(g/t)</td>
<td>Mo<br />
(%)</td>
<td>Au<br />
(oz)</td>
<td>Cu<br />
(lbs)</td>
<td>AuEq<sup>2</sup><br />
(oz)</td>
</tr>
<tr>
<td>Indicated</td>
<td>77,400,000</td>
<td>0.18</td>
<td>0.17</td>
<td>2.29</td>
<td>0.006</td>
<td>438,000</td>
<td>285,000,000</td>
<td>1,222,000</td>
</tr>
<tr>
<td>Inferred</td>
<td>34,400,000</td>
<td>0.15</td>
<td>0.15</td>
<td>1.70</td>
<td>0.007</td>
<td>170,000</td>
<td>115,000,000</td>
<td>486,000</td>
</tr>
</tbody>
</table>
</div>
<div>
<table>
<tbody>
<tr>
<td></td>
</tr>
<tr>
<td></td>
</tr>
<tr>
<td><strong>Oxide and Sulphide Resources</strong><strong><sup>1</sup></strong> <strong>- March 2012</strong></td>
</tr>
<tr>
<td></td>
</tr>
</tbody>
</table>
</div>
<div>
<table>
<tbody>
<tr>
<td>Category</td>
<td>Tonnes<br />
(t)</td>
<td>Au<br />
(g/t)</td>
<td>Cu<br />
(%)</td>
<td>Ag<br />
(g/t)</td>
<td>Mo<br />
(%)</td>
<td>Au<br />
(oz)</td>
<td>Cu<br />
(lbs)</td>
<td>AuEq<sup>2</sup><br />
(oz)</td>
</tr>
<tr>
<td>Oxide Meas &amp; Ind</td>
<td>21,100,000</td>
<td>0.34</td>
<td>0.21</td>
<td>1.18</td>
<td>0.002</td>
<td>233,000</td>
<td>96,000,000</td>
<td>497,000</td>
</tr>
<tr>
<td>Oxide Inferred</td>
<td>700,000</td>
<td>0.19</td>
<td>0.13</td>
<td>2.01</td>
<td>0.002</td>
<td>4,000</td>
<td>2,000,000</td>
<td>10,000</td>
</tr>
<tr>
<td>Sulphide Meas &amp; Ind</td>
<td>166,700,000</td>
<td>0.29</td>
<td>0.20</td>
<td>1.59</td>
<td>0.004</td>
<td>1,571,000</td>
<td>717,000,000</td>
<td>3,543,000</td>
</tr>
<tr>
<td>Sulphide Inferred</td>
<td>35,000,000</td>
<td>0.16</td>
<td>0.15</td>
<td>1.67</td>
<td>0.007</td>
<td>177,000</td>
<td>118,000,000</td>
<td>502,000</td>
</tr>
</tbody>
</table>
</div>
<p>The mineral resources were estimated using Datamine Studio V3 mining software. Grades for Au, Cu, Ag and Mo were interpolated by ordinary kriging into blocks that are 10 metres by 10 metres by 5 metres in height representing the mineralized envelopes. Grades were estimated inside the mineralized envelopes based on an $8.70 equivalent cut-off calculated using a $1000 gold price and $2.75 copper price, designed by Geologix and validated by Micon. Mineral resources were further constrained within a Whittle resource pit shell based on $1,300 Au/oz and $3.30/lb for Cu (Ag and Mo values were not included) and reported above a $5.00 economic cut-off. The Whittle pit shell constraints utilized the following parameters:</p>
<div>
<table>
<tbody>
<tr>
<td colspan="2"><strong>Metallurgical Recoveries</strong></td>
</tr>
<tr>
<td>North and South Zones</td>
<td>Oxide: 78.4% Au, Cu 14.3% &#8211; Sulphide 60.7% Au, 87.4% Cu</td>
</tr>
<tr>
<td>Tizate</td>
<td>Oxide: 68.8% Au, Cu 6.8% &#8211; Sulphide 66.2% Au, 85.3% Cu</td>
</tr>
<tr>
<td colspan="2"><strong>Metals Used and Metal Prices ($USD)</strong></td>
</tr>
<tr>
<td>Gold, Copper</td>
<td>$1300 Au, $3.30 Cu</td>
</tr>
<tr>
<td colspan="2"><strong>Operational Constraints</strong></td>
</tr>
<tr>
<td>Pit Slope Angle</td>
<td>45 degrees</td>
</tr>
<tr>
<td>Operating Cost (Oxide and Sulphide)</td>
<td>Mining:$1.35/t, Processing: $4.30/t, G&amp;A: $0.68/t</td>
</tr>
</tbody>
</table>
</div>
<p>All assays were composited to a 2 metre length prior to block estimation, and composite grades were evaluated for outliers. After evaluation, capping was applied to both oxide and sulphide mineralization for Au, Cu, Ag and Mo, where needed. The blocks were interpolated in three successive passes with each pass having a larger search volume. Search radii were designed from variogram parameters and local drill spacing. For the North and South zones interpolation passes one and two correspond to a classification of Measured and Indicated respectively and required at least five samples representing at least two drill holes. The remaining blocks within the North and South zone resource solids were interpolated with a third pass, which required at least 4 samples from at least one hole and were classified as Inferred. The Tizate zone was interpolated in two passes. The first required at least five samples representing at least two drill holes for a classification of Indicated, the second required at least 4 samples from at least one hole for a classification of Inferred.</p>
<p>The resource estimate was completed by David Makepeace, M.Eng., P. Eng., Senior Geologist, of Micon International Ltd., Vancouver, B.C. and is based on geological interpretation supplied by the Company to Micon. Mr. Makepeace is an 'independent qualified person' for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators and has verified the data disclosed in this news release. The Company's Resource Geologist, Andrew Hamilton, B.Sc., P. Geo., a 'qualified person' for the purposes of NI 43-101, has approved the disclosure contained in this news release.</p>
<p>Geologix Explorations Inc. is a mineral exploration company focused on acquiring, exploring and developing mineral resource opportunities with the potential to host world class mineral deposits. The Company's primary focus is the Tepal Gold-Copper Porphyry Project in Michoacán state, Mexico, where the Company completed a Preliminary Assessment study ("PA") in April 2011 and is continuing to aggressively explore for additional gold and copper mineralization in an effort to expand the size of the resource and scale of the possible future mining operation.</p>
<div>
<p>The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.</p>
</div>
<p>&nbsp;</p>
<div id="ctl00_p_wpcpageplaceholder_re1_contact_information"></div>
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		<title>China Moly pursues US $579 million from Shanghai IPO</title>
		<link>http://www.mining.com/2012/03/20/china-moly-pursues-us-579-million-from-shanghai-ipo/</link>
		<comments>http://www.mining.com/2012/03/20/china-moly-pursues-us-579-million-from-shanghai-ipo/#comments</comments>
		<pubDate>Tue, 20 Mar 2012 13:00:01 +0000</pubDate>
		<dc:creator>Cecilia Jamasmie</dc:creator>
				<category><![CDATA[Major news provider]]></category>
		<category><![CDATA[Mining News]]></category>
		<category><![CDATA[Mining News and Commentary]]></category>
		<category><![CDATA[China]]></category>
		<category><![CDATA[Molybdenum]]></category>
		<category><![CDATA[Steel]]></category>

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		<description><![CDATA[China Molybdenum Co. (HKG:3993), the country’s largest producer of  the element by output, plans to launch an initial public offering in Shanghai, which may raise around 3.65 billion yuan (US$579 million), to fund its new alloy project and boost output, according to a statement to the China Securities Regulatory Commission (CSRC).]]></description>
			<content:encoded><![CDATA[<p>China Molybdenum Co. (HKG:3993), the country’s largest producer of  the element by output, plans to launch an initial public offering in Shanghai, which may raise around 3.65 billion yuan (US$579 million), to fund its new alloy project and boost output, according to a <a href="http://www.chinamoly.com/06invest/DOC/E-CMOC-A038-1655-AP.pdf">statement to the China Securities Regulatory Commission (CSRC)</a>.</p>
<p>If China Moly succeed, it will become the second molybdenum maker to tap the market for the financing of projects to meet the country's rising demand for key minor metals. The first one was Jinduicheng Molybdenum, which raised US$2 billion when it went public in 2008.</p>
<p>The company said it plans to offer 542 million new shares, or 10% of its enlarged share capital, adding that Essence Securities Co. and BOC International (China) Ltd. will underwrite the deal.</p>
<p>Last year, Moly’s Hong Kong-listed stocks tumbled 55%, but have increased their value 14% so far this year, closing at HK$3.78 yesterday. The share is currently trading at 14 times its 2012 forecast earnings.</p>
<p>A source, who declined to be identified, <a href="http://online.wsj.com/article/SB10001424052702304636404577290311610420108.html">told Wall Street Journal</a> there has been a large expansion in molybdenum capacity in the Chinese market in the past few months. The insider, a manager at a Shanghai-based molybdenum trading company, added that the stainless steel and construction steel markets are driving that growth.</p>
<p>Special steel products, including stainless steel products, account for 9% of China's total current steel production, which is almost half of the 16% average in industrialized countries.</p>
<p>According to Wall Street Journal, analysts expect the usage of molybdenum to increase as more stainless steel is consumed in the coming years says .</p>
<p>China is the world’s biggest molybdenum producer, but also the main consumer.</p>
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		<title>Green Swan Continues With Acquisition Strategy in British Columbia&#039;s Golden Triangle</title>
		<link>http://www.mining.com/2012/03/14/green-swan-continues-with-acquisition-strategy-in-british-columbias-golden-triangle/</link>
		<comments>http://www.mining.com/2012/03/14/green-swan-continues-with-acquisition-strategy-in-british-columbias-golden-triangle/#comments</comments>
		<pubDate>Wed, 14 Mar 2012 16:15:58 +0000</pubDate>
		<dc:creator>Marketwire - Mining and Metals</dc:creator>
				<category><![CDATA[KEEP OFF HOMEPAGE]]></category>
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		<description><![CDATA[Green Swan Capital Corp. ("Green Swan") (TSX VENTURE:GSW) today announced it has agreed to purchase a package of six non-contiguous mining tenures in southeastern British Columbia.]]></description>
			<content:encoded><![CDATA[<div class="mw_release">
<p><strong>BURLINGTON, ONTARIO&#8211;(Marketwire &#8211; Feb. 29, 2012) -</strong> Green Swan Capital Corp. ("Green Swan") (TSX VENTURE:GSW) today announced it has agreed to purchase a package of six non-contiguous mining tenures in southeastern British Columbia. These tenures cover 1722 hectares.</p>
<p>"These tenures fit within Green's Swan's stated strategy of building a portfolio of high quality Canadian mining assets," said Peter M. Clausi, Green Swan's CEO. "In addition to its two properties in Ontario's Ring of Fire and fourteen tenures in northern British Columbia's Golden Triangle, Green Swan on closing will acquire a significant footprint in southeastern B.C."</p>
<p><strong>The Agreement</strong></p>
<p>Subject to a Net Smelter Royalty, Green Swan has purchased a 100% interest in these tenures from arm's length persons in consideration of the issuance of 300,000 shares (at an agreed price of $0.20 per share), and $18,588 cash. The Net Smelter Royalty is equal to two point five per cent, half of which may be purchased at Green Swan's option at any time for $1,000,000, and which is subject to adjustment in the event of certain corporate activities. The closing of this acquisition is subject to the approval of the TSX Venture Exchange.</p>
<p><strong>Mikayla</strong></p>
<p>The 519 ha Mikayla property is in the Okanagan Valley, roughly 15 km south of Xstrata Canada's Brenda Mine. This mine was a low grade open pit in production from 1970 to 1990, when it produced 278,000 tonnes of copper and 66,000 tonnes of molybdenum in concentrate form.</p>
<p>Mikayla is immediately adjacent to Almaden Minerals Ltd.'s Munro Lake property. Almaden has made public disclosure that a large IP anomaly underlies its Munro Lake property, on which Almaden has drilled 12 diamond drill holes. Included in Almaden's results was a 14.8 metre interval in hole 96-3 that averaged 0.10% molybdenum, 0.05% copper and 15.1 g/t silver.</p>
<p>Mikayla is 4.5 km north of Crowrea (Molycor Gold Corp. / Goldrea Resources Corp. joint venture) and approximately 9 km northeast of Empress (Molycor / Goldrea). Both are molybdenum properties. Molycor announced in 2009 that the Empress deposit remains open to the northeast.</p>
<p><strong>Tat and Chess</strong></p>
<p>Tat (398 ha) and Chess (285 ha) are located west of Fraser Lake and 8 km north of Thompson Creek Mining Ltd.'s Endako Mine, British Columbia's only active molybdenum mine. Tat and Chess are also close to the Kitsault Molybdenum Project held by Avanti Mining Inc., which was in production until 1982 and which Avanti is evaluating to re-open.</p>
<p><strong>Champion</strong></p>
<p>The North Thompson River Fault is a brittle fault separating basement exposures in the Malton Range to the east, from Proterozoic metasediments in the Cariboo Mountains to the west. The 157 ha Champion property is located south of Valemount along the Yellowhead Highway, at a location believed to be at a very pronounced deflection of this North Thompson River Fault.</p>
<p><strong>Punch Bowl</strong></p>
<p>Punch Bowl (118 ha) is located near the Athabasca Pass on the British Columbia side of the provincial border with Alberta, south of Jasper. Punch Bowl is proximate to the Chatter Creek Thrust. Brittle quartzites correlated to the Cambrian Gog Group lie in the hanging wall of this Chatter Creek Thrust. B.C. MINFILE 083D 038 covers pertinent relevant technical information for Punch Bowl.</p>
<p><strong>McRae</strong></p>
<p>McRae (245 ha) is located within highly deformed (folded and faulted) Lardeau Group strata, the same stratigraphic succession that hosts the Trout Lake metallogenic belts to the east and southeast. The northern extent of the Trout Lake Belt, 19 km east of McRae, hosts numerous occurrences of high grade silver-bearing, base metal veins. The Teddy Glacier Property (Jazz Resources Inc.) is located approximately 12 km to the east-northeast of McRae. Five samples of mineralization collected in 2004 from Teddy Glacier grade from 0.082 to 1.88 oz/ton gold, 7.23 to 22.9 oz/ton silver, 8.86% to 27.5% lead, and 5.11% to 22.1% zinc.</p>
<p><strong>About Green Swan Capital Corp.</strong></p>
<p>Green Swan is engaged in the exploration and, if warranted, development and mining of its properties as well as the acquisition, exploration and potential development of other mineral resource properties. Green Swan communicates with its shareholders and the investing public directly and with the assistance of CHF Investor Relations. The common shares of Green Swan are listed on the TSX Venture Exchange under the trading symbol "GSW". Pending closing of the transactions contemplated above, GSW has 16,791,417 shares outstanding.</p>
<p>To receive Green Swan news by email contact <a href="mailto:stephanie@chfir.com">stephanie@chfir.com</a> with "Green Swan News" in the subject line.</p>
<p>Forward-Looking Statements</p>
<p><em>This news release may include statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Green Swan cautions that actual performance will be affected by a number of factors, many of which are beyond its control. Future events and results may vary substantially from what Green Swan currently foresees. Discussion of the various factors that may affect future results is contained in Green Swan's recent filings, available on SEDAR. Green Swan assumes no liability for repeating or referring to any facts, statements, releases, data or reports disseminated by any other issuer. Any reference to any other issuer should be cross-checked for accuracy and context by the reader.</em></p>
<div>
<p>Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.</p>
</div>
<p style="text-align: left;"><strong><br />
</strong></p>
</div>
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		<title>Chile&#039;s Antofagasta shares dive despite record profit in 2011</title>
		<link>http://www.mining.com/2012/03/13/chiles-antofagasta-shares-dive-despite-record-profit-in-2011/</link>
		<comments>http://www.mining.com/2012/03/13/chiles-antofagasta-shares-dive-despite-record-profit-in-2011/#comments</comments>
		<pubDate>Tue, 13 Mar 2012 13:10:39 +0000</pubDate>
		<dc:creator>Cecilia Jamasmie</dc:creator>
				<category><![CDATA[Headline MineDev]]></category>
		<category><![CDATA[Major news provider]]></category>
		<category><![CDATA[Mining News]]></category>
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		<category><![CDATA[Antofagasta PLC]]></category>
		<category><![CDATA[Chile]]></category>
		<category><![CDATA[Copper]]></category>
		<category><![CDATA[Gold]]></category>
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		<category><![CDATA[South American]]></category>

		<guid isPermaLink="false">http://www.mining.com/?p=286468</guid>
		<description><![CDATA[Shares of Chilean miner Antofagasta PLC (LON:ANTO) were down 3.1% this morning after the company disappointed market hopes for a whopping special dividend and announced instead a cut on dividends and an increased spending on growth projects.]]></description>
			<content:encoded><![CDATA[<p>Shares of Chilean miner Antofagasta PLC (LON:ANTO) were down 3.1% this morning after the company disappointed market hopes for a whopping special dividend and announced instead a cut on dividends and an increased spending on growth projects.</p>
<p>The London-listed firm, one of the world’s leading copper producers, <a href="http://www.antofagasta.co.uk/pdf/press_releases/2012/Aplc2011PreliminaryAnnouncement20120313.pdf">reported however record revenue and profits in 2011</a>, with turnover of US$6.1 billion (up 32.7% over 2010) and EBITDA of US$3.7 billion (up 32.1% over 2010). </p>
<p>Copper production rose 22.9% year on year to 640,500 tonnes in 2011, with revenue up by nearly a third year on year to $6.08bn. </p>
<p>Antofagasta attributed the positive results to have increased production at Esperanza, its newest mine. The copper-gold operation supported a slight decrease in the weighted average group cash costs as a result of its significant by-product credits, and contributed 90,100 tonnes to production. This figure was still lower than expectations and so Antofagasta failed to hit its guidance figures of 715,000 tonnes of copper and 324,000 ounces of gold. </p>
<p>The Chilean company said it had addressed the issue by making improvements to increase the reliability of Esperanza’s plant, such as making the milling process more efficient. </p>
<p><a href="http://www.mining.com/2012/03/08/antofagasta-minerals-ceo-quits-a-week-before-2011-results/" target="_blank">Last week, the chief executive of Antofagasta’s copper division, Marcelo Awad resigned unexpectedly</a>, leaving room to speculations about today’s announcement.</p>
<p>Jean-Paul Luksic, whose family controls 65% of Antofagasta, has assumed the vacant position on an interim basis, while also continuing in his role as Chairman of Antofagasta PLC. </p>
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		<title>Taseko announces earnings for year end 2011</title>
		<link>http://www.mining.com/2012/03/12/taseko-announces-earnings-for-year-end-2011/</link>
		<comments>http://www.mining.com/2012/03/12/taseko-announces-earnings-for-year-end-2011/#comments</comments>
		<pubDate>Mon, 12 Mar 2012 23:30:00 +0000</pubDate>
		<dc:creator>CNW Telbec &#124; Mining/Metals</dc:creator>
				<category><![CDATA[Major news provider]]></category>
		<category><![CDATA[Mining News]]></category>
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		<category><![CDATA[Molybdenum]]></category>

		<guid isPermaLink="false">http://www.mining.com/?guid=9b122ae3cb922b54b9c810a8cb9bab60</guid>
		<description><![CDATA[Revenues for 2011 were $251.9 million from the sale of 60.8 million pounds of copper and 974,000 pounds of molybdenum. Revenues for the fourth quarter of 2011 were $60.5 million from the sale of 15.5 million pounds of copper and 269,000 pounds of molybdenum.]]></description>
			<content:encoded><![CDATA[<p>This release should be read with the financial statements and management's discussion and analysis available at www.tasekomines.com and filed on www.sedar.com. Our financial results are prepared in accordance with IFRS and expressed in Canadian dollars, unless otherwise noted. Production volumes and capital amounts for the Company's 75%-owned Gibraltar mine are presented based on this 75% basis unless otherwise indicated.</p>
<p align="left">VANCOUVER, March 12, 2012 /CNW/ &#8211; Taseko Mines Limited (TSX: TKO; NYSE Amex: TGB) announces gross profit of $86.3 million and net earnings of $27.0 million ($0.14 per share) for the year ended December 31, 2011.</p>
<p align="justify"><strong>Highlights</strong></p>
<ul>
<li>Revenues for 2011 were $251.9 million from the sale of 60.8 million pounds of copper and 974,000 pounds of molybdenum. Revenues for the fourth quarter of 2011 were $60.5 million from the sale of 15.5 million pounds of copper and 269,000 pounds of molybdenum.</li>
<li>Total production at Gibraltar (100%), for the year ended December 31, 2011 was 82.9 million pounds of copper and 1.3 million pounds of molybdenum. Fourth quarter production was 22.3 million pounds of copper and 388,000 pounds of molybdenum.</li>
<li>Capital projects for the year totalled $63.9 million.</li>
<li>On a 100% basis, $56.1 million was spent on Gibraltar Development Plan 3 ("GDP3").</li>
<li>On November 8<sup>th</sup> 2011, the Canadian Environmental Assessment Agency ("CEAA") posted the 'Notice of Commencement' regarding the New Prosperity project, indicating the Federal assessment is now underway.  OnFebruary 28, 2012 a work program commenced on site for the purpose of obtaining information required for the Federal environmental review.</li>
<li>A $20-million program has commenced at Aley to advance the project into the feasibility and engineering stages. Included in the program is the construction of road access to the site, a contract awarded to a local First Nations road building firm.</li>
<li>Realized copper prices were US$3.89 per pound in 2011, compared to US$3.60 per pound in 2010, and the LondonMetal Exchange average price of US$4.00 per pound. The difference from the LME average price stems from the timing of shipments of copper.</li>
</ul>
<p align="justify">Russell Hallbauer, President and CEO of Taseko, commented<em> "Construction of Gibraltar Development Plan 3 is progressing as planned, on time and on budget. All major equipment has been purchased for the concentrator, molybdenum plant, and infrastructure, shipment of the long lead items has begun, foundations have been laid, and erection of the new buildings is well underway." </em></p>
<p align="justify">Mr. Hallbauer continued,<em> "We continue to move forward with New Prosperity's Federal environmental review process, which began in November 2011. The Minister of the Environment indicated that the Canadian Environmental Assessment Agency ("CEAA") would use information gathered in the previous environmental assessment to support the new process. Exploration and environmental data gathering work has commenced on site. We expect the Panel meetings to begin over the next few months." </em></p>
<p align="justify"><em>"In addition, we are advancing our Aley niobium project, with a $20-million program budgeted for 2012. This program</em><em>will further define the ore body, support the environmental baseline studies and inform the project feasibility study. It will also provide the basis for preliminary engineering and mine site planning."</em></p>
<p align="justify"><em>"Our strategy is to create shareholder value by growing the company organically, controlling capital and operating costs, and executing our projects in a sound technical manner. Taseko's looks forward to managing</em> <em>our diversified project pipeline and enhancing shareholder value in 2012." </em>Mr. Hallbauer concluded.<em></em></p>
<table border="1" cellspacing="0">
<tbody>
<tr valign="top">
<td align="left">Taseko will host a conference call on Tuesday, March 13, 2012 at 11:00 a.m. Eastern Time (8:00 a.m. Pacific) to discuss these results. The conference call may be accessed by dialing (877) 303-9079 in Canada or (970) 315-0461 internationally. A live and archived audio webcast will also be available at <a href="http://www.tasekomines.com/" target="_blank">www.tasekomines.com</a>.</p>
<p>The conference call will be archived for later playback until March 20, 2012 and can be accessed by dialing (855) 859-2056 in Canada and the United States, or 404-537-3406 internationally and using the passcode 51127932.</td>
</tr>
</tbody>
</table>
<p>&nbsp;</p>
<p>Russell Hallbauer<br />
<em>President and CEO</em></p>
<p>No regulatory authority has approved or disapproved of the information contained in this news release.</p>
<p align="center"><strong>CAUTION REGARDING FORWARD-LOOKING INFORMATION</strong></p>
<p>This document contains "forward-looking statements" that were based on Taseko's expectations, estimates and projections as of the dates as of which those statements were made. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "outlook", "anticipate", "project", "target", "believe", "estimate", "expect", "intend", "should" and similar expressions.</p>
<p>Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. These included but are not limited to:</p>
<ul>
<li>uncertainties and costs related to the Company's exploration and development activities, such as those associated with continuity of mineralization or determining whether mineral resources or reserves exist on a property;</li>
<li>uncertainties related to the accuracy of our estimates of mineral reserves, mineral resources, production rates and timing of production, future production and future cash and total costs of production and milling;</li>
<li>uncertainties related to feasibility studies that provide estimates of expected or anticipated costs, expenditures and economic returns from a mining project;</li>
<li>uncertainties related to our ability to complete the mill upgrade on time estimated and at the scheduled cost;</li>
<li>uncertainties related to the ability to obtain necessary licenses permits for development projects and project delays due to third party opposition;</li>
<li>uncertainties related to unexpected judicial or regulatory proceedings;</li>
<li>changes in, and the effects of, the laws, regulations and government policies affecting our exploration and development activities and mining operations, particularly laws, regulations and policies;</li>
<li>changes in general economic conditions, the financial markets and in the demand and market price for copper, gold and other minerals and commodities, such as diesel fuel, steel, concrete, electricity and other forms of energy, mining equipment, and fluctuations in exchange rates, particularly with respect to the value of the U.S. dollar and Canadian dollar, and the continued availability of capital and financing;</li>
<li>the effects of forward selling instruments to protect against fluctuations in copper prices and exchange rate movements and the risks of counterparty defaults, and mark to market risk;</li>
<li>the risk of inadequate insurance or inability to obtain insurance to cover mining risks;</li>
<li>the risk of loss of key employees; the risk of changes in accounting policies and methods we use to report our financial condition, including uncertainties associated with critical accounting assumptions and estimates;</li>
<li>environmental issues and liabilities associated with mining including processing and stock piling ore; and</li>
<li>labour strikes, work stoppages, or other interruptions to, or difficulties in, the employment of labour in markets in which we operate mines, or environmental hazards, industrial accidents or other events or occurrences, including third party interference that interrupt the production of minerals in our mines.</li>
</ul>
<p>For further information on Taseko, investors should review the Company's annual Form 40-F filing with the United States Securities and Exchange Commission <a href="http://www.sec.gov/" target="_blank">www.sec.gov</a> and home jurisdiction filings that are available at<a href="http://www.sedar.com/" target="_blank">www.sedar.com</a>.</p>
<p>&nbsp;</p>
<p>For further information:</p>
<p>For further information on Taseko, please see the Company's website <a href="http://www.tasekomines.com/" target="_blank">www.tasekomines.com</a> or contact:</p>
<p>Investor Relations &#8211; 778-373-4533, toll free 1-877-441-4533</p>
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