AME’s Mineral Exploration roundup concludes with renewed support from the province

Creso Exploration Inc. ("Creso" or the "Corporation") (TSX VENTURE:CXT)(OTCQX:CRXEF)(FRANKFURT:C3X) is pleased to announce that Hunter Dickinson Resources Ltd. ("Hunter Dickinson"), a subsidiary of Hunter Dickinson Inc., has signed an agreement to acquire up to a 69.95% interest in a portion of the Company's Shining Tree property position (the "Project") in NE Ontario. A binding letter agreement ("Letter Agreement") has been executed and is subject to, among other things, completion of due diligence ("Due Diligence") within 60 days.

Inmet Mining bettered its earnings in the first quarter compared to Q1 of last year, Reuters reported: Inmet Mining's (IMN.TO) first quarter profit rose on higher metal prices and higher sales volumes, the Canadian copper producer said on Thursday. Inmet earned C$59.4 million, or 97 Canadian cents a share, from continuing operations. That compared with C$49.4 million or 96 Canadian cents a share in the year-ago period. The Toronto-based company sold its 18 percent stake in Ok Tedi Mining for $335 million in January.

Potash Corporation of Saskatchewan Inc. (PotashCorp) today reported record first-quarter earnings of $0.84 per share1 ($732 million), 71 percent above the $0.49 per share ($444 million) earned in the same period last year. Strong demand and improved prices for all three nutrients resulted in record first-quarter gross margin of $1.1 billion, significantly above the $729 million earned in last year’s first quarter. Earnings before finance costs, income taxes and depreciation and amortization (EBITDA)2 of $1.1 billion and cash flow prior to working capital changes2 of $899 million substantially exceeded the first-quarter 2010 totals of $776 million and $633 million, respectively.

North American Palladium Ltd. ("NAP" or the "Company") (TSX:PDL)(NYSE Amex:PAL) today released an updated mineral reserve and mineral resource estimate for its Vezza gold project and Sleeping Giant gold mine, located in the Abitibi gold district in Quebec. "We are pleased to see the Vezza gold project advance in accordance with the budget and timeline, as this supports our strategy to organically grow our gold division," said William J. Biggar, President and CEO. "Future growth will come from the continued exploration and development of our advanced gold projects in the Abitibi region, where we have a significant land position and an underutilized mill."

Wolverine Minerals Corp. (TSX-V:WLV) min is pleased to announce that after a comprehensive review of historical information and analysis of the results of last year's programs, it has now finalized its work program and budget for the 2011 field season on the Company's Yukon properties optioned from Strategic Metals Ltd ("Strategic"). Estimated expenditures will be approximately $5 million, with the majority of this work to be focused on eight of the Company's core properties. Through Archer, Cathro & Associates (1981) Limited ("Archer Cathro"), all crews, camps, equipment, drills, helicopters and other necessary supplies have been arranged and the following programs will begin on June 1, 2011: Image by Wolverine Minerals Corp.: DDD-Shamrock property.

Barrick's Q1 earnings rose 22% to $1.0 billion, up from $820 million a year ago. The company, which released its quarterly financial results on Wednesday, said the rise was due to better than expected production results and higher prices for copper and gold. Barrick's earnings per share were an even $1.00. The total cash cost per ounce of gold is $437 while net cash cost is $308. Barrick said cash costs were ahead of budget due to higher production at its Cortez, Goldstrike and Veladero operations.

Nemaska Exploration reported on Wednesday drill results for its Whabouchi lithium project. Highlights were 53.5 m at 1.81% Li2O, 39.6 m at 1.56% Li2O, 13.5 m at 1.81% Li2O and 17.0 m at 1.71% Li2O. Results were from 10 additional holes from a recently completed drill program. In total, the company has drilled more than 43 holes totalling 8,909 metres.

Allana Potash Corp. (TSX VENTURE:AAA) ("Allana" or the "Company") is pleased to announce that drill hole DK-11-16 intersected significant potash mineralization of 29.80% KCl over 4.00 metres starting at a depth of 125.20 metres. Hole 16 intersected two strong zones of potash mineralization which are interpreted to correlate with the Sylvinite Zone and Kainitite Zone in a previously unexplored part of the basin. The Sylvinite Zone returned 6.50 metres of sylvinite which graded 24.79 % KCl and includes a 4.00 metre interval that returned 29.80% KCl. Further down the hole, 5.00 metres of kainitite was intersected which returned 20.29% KCl.

First Nickel Inc. (“First Nickel” or the “Company”) (TSX:FNI) is pleased to provide an update on its Lockerby Depth Project and its […]