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First Majestic: Production up 72% to 6.53 million oz Ag in 2010; Exceeds Guidance by 9%

Clearly 2010 was a fantastic year for First Majestic. Just have a look at the development of the share price the last year. The 52-week trading range is CA$3.04-CA$15.30 The company got a NYSE listing as well under the ticker AG, very nice ticker by the way! We bough shares of First Majestic in September 2009 @ CA$2.66 Recently we sold 45% of our shares at a 309% profit! Using today’s opening of CA$13.49 we have a 407% gain on our remaining “free” shares.

When do you sell?

This sale had nothing to do with First Majestic, when a stock in our portfolio is exceeding 250% gains we sell about 40%-50% of our shares. This is just the method we use  to create “free” shares for our portfolio. Once we have these free positions in our portfolio we intend to NEVER sell them, unless a share price is clearly much to high. It could mean years of waiting (e.g. 10-20 years!), but at a certain point the companies will no longer be junior explores. Many things can happen from mergers to take-overs new properties, etc. etc. The point is that it is very likely that some of these positions will start paying dividends at some point. We use the money from the successful sales  to buy shares of new interesting companies. The goal is to do the same with these companies and thus building a very solid and ever growing portfolio. The best retirement plan ever!

First Majestic News Release:

First Majestic Silver Corp. (“First Majestic” or the “Company”) is pleased to announce that production in 2010 reached 7,024,055 equivalent ounces of silver, representing a 62% increase over 2009 from 4,337,103 equivalent ounces of silver.

The equivalent silver production for 2010 consisted of 6,529,325 ounces of silver, representing a 72% increase from the prior year, 6,404,227 pounds of lead, representing a 3% decrease from the previous year, and 2,152 ounces of gold, representing a decrease of 19% compared to the previous year. Total silver production as a percentage of total production amounted to 93% making First Majestic the purest silver company in the world.

Company guidance released on January 11, 2010 stated, “Production is expected to exceed 6.0 million ounces of silver in 2010″ which was in fact exceeded by a strong 9%. As a result of the current expansion underway at the La Parrilla Silver Mine and other operational improvements at the La Encantada and San Martin Silver Mines, production is anticipated to exceed 7.5 million ounces of silver in 2011.

In addition to further increases in production expected for 2011, the Company is also expanding its exploration budget. The current 2011 budget calls for 47,800 metres of drilling over the Company’s five core projects for a total expenditure of US$7,137,500. This exploration program compares to the total of 17,322 metres drilled in 2010, and total expenditures equalling US$1,897,280. It is further anticipated that new updated NI 43-101 Technical Reports will be released on each project in late 2011 or early 2012.

With respect to the fourth quarter, total ore processed at the Company’s three operating silver mines, the La Encantada Silver Mine, the La Parrilla Silver Mine and the San Martin Silver Mine, amounted to 467,175 tonnes milled in the quarter representing an 8% increase over the previous quarter. The overall average silver head grade in the quarter for the three mines decreased slightly from the previous quarter to an overall head grade of 207 g/t of silver. The combined recoveries of silver also decreased slightly from 58% to 57%. This was due to the much larger La Encantada operation as it is primarily reprocessing old tailings. As the mix of ore from the mine increases throughout 2011, these recoveries are also expected to improve.

The Company developed 6,288 metres underground in the fourth quarter, compared to 6,207 metres of underground development completed in the previous quarter. The total annual underground development for 2010 totalled 22,658 metres. Development has been focused on increasing the Reserve and Resource preparation ratios at the three operating mines. Due to the expanding production levels anticipated in 2011 and 2012, the Company’s development budget is being increased to US$21,741,183 in 2011 from $12,335,119 in 2010.

Also, the diamond drilling programs totalled 6,104 metres of definition drilling in the quarter, for a 2010 annual total of 17,322 metres of drilling completed at the Company’s three mines. Drilling at the Company’s two development projects, the Del Toro Silver Mine and the Real de Catorce Silver Project is expected to commence in early 2011.

As a result of the efforts and work completed in 2010, some of the improvements and advances made during the year included:

At the La Encantada Silver Mine:

• The new 3,500 tpd cyanidation plant, which was inaugurated on November 19, 2009, reached full capacity at the end of the second quarter of 2010 and averaged 3,750 tpd in the fourth quarter.
• The new Buenos Aires ore body, which is being developed and prepared for production will allow the mine ore extraction to increase 1,500 tpd versus the current 1,000 tpd. This improvement will have a positive effect on head grades and recoveries.
• New areas of reserves and resources had been discovered and developed at the San Francisco vein and at the hanging wall of the 660 ore body.
• Consolidation of the electric generation into a single larger and more modern generation plant was completed during the year, allowing for the suspension of the operation of the much older generation plants which will result in substantial savings on parts, repairs and fuel efficiency.
• Two new induction furnaces began operation in December using the latest technology in smelting precipitates resulting in a much more efficient operation, lower costs and better quality silver doré bars.

At the La Parrilla Silver Mine:

• Development of a new ramp system was completed in the La Blanca mine which has now connected levels 9 and 10 of the Rosarios mine, improving logistics and which is expected to reduce costs due to the improved transportation of ore from the lower levels of the mine to surface.
• Completion of the engineering work for the current expansion program launched in December 2010. This expansion will result in the mill capacity reaching 1,600 tpd from the current 850 tpd and will effectively double the current output of the La Parrilla operation from approximately 1.5 million ounces to 3.0 million ounces of silver equivalent annually by the end of 2011.

At the San Martin Silver Mine:

• The discovery of the new San Pedro area in 2009 led to an extensive underground drilling program which continues today. This program is based on drilling systematic short holes into the foot wall of the Zuloaga vein. The result has been extremely favourable throughout 2010 with several discoveries of minable mineralization. These new discoveries have allowed for consistent throughput and improved economics at the operation and are expected to bring improved results into 2011.
• The previously announced discovery of a parallel structure to the main Zuloaga vein, the La Esperanza vein, discovered through surface geology was drilled in the last two quarters of 2010. Eight diamond drill holes were successfully completed, of which six intersected mineralization. The current program for 2011 is to drive a 500 metre ramp into the structure to open up and begin the development of a new potential resource.

At the Del Toro Silver Mine:

• In December 2009, the Environmental Impact Statement for a new flotation plant was approved by the SEMARNAT and the Change of Use of Land Permit was received in the first quarter of 2010.
• At the end of November 2010, the underground development at the Del Toro Silver Mine was reinitiated. The current objective is to prepare a new underground drilling station and to access the No. 3 Ore Body at depth. Once this is achieved by the middle of 2011, a large bulk sample can be collected for final metallurgical testing. This testing will allow for the final design of the new mill operation currently in the planning stage.

At the Real de Catorce Silver Project:

• During 2010 the Company evaluated and confirmed the geological data obtained as a result of the acquisition in late 2009 of this project. In November 2010, First Majestic successfully completed the purchase of the land underlying the Santa Ana Hacienda located within the Real de Catorce property, together with all associated buildings and infrastructure, the outstanding royalty and certain historic geological and proprietary mining information.
• Construction of a mining museum is planned to commence in early 2011 which is designed to clean the impressive underground working areas and restore the above ground buildings to a suitable condition in order to allow for tourist access. This new mining museum will bring needed employment to the area.

Mr. Neumeyer stated, “2010 has been an impressive year for First Majestic on all counts. Not only did our silver production increase by over 70%, the silver price performed very well and the Company’s shares became the third best performing stock on the S&P/TSX index registering a gain of over 240% year over year. We were also successful in listing our shares on the NYSE. Management is committed to staying focused on increasing production and we’re reviewing plans to continue to grow our production substantially over the next three years. Congratulations go out to our entire team in Canada and Mexico.”

First Majestic is a producing silver company focused in Mexico and is aggressively pursuing its business plan to become a senior silver producer through the development of its existing assets and the pursuit through acquisition of additional assets that contribute to achieving its corporate growth objectives.

FOR FURTHER INFORMATION contact info@firstmajestic.com, visit our website at www.firstmajestic.com or call our toll free number 1.866.529.2807.

FIRST MAJESTIC SILVER CORP.
“signed”
Keith Neumeyer,
President & CEO

Cautionary Note Regarding Forward Looking Statements

This press release contains “forward-looking statements”, within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation, concerning the business, operations and financial performance and condition of First Majestic Silver Corp. Forward-looking statements include, but are not limited to, statements with respect to the future price of silver and other metals, the estimation of mineral reserves and resources, the realization of mineral reserve estimates, the timing and amount of estimated future production, costs of production, capital expenditures, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, hedging practices, currency exchange rate fluctuations, requirements for additional capital, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, timing and possible outcome of pending litigation, title disputes or claims and limitations on insurance coverage. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of First Majestic Silver Corp. to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the integration of acquisitions; risks related to international operations; risks related to joint venture operations; actual results of current exploration activities; actual results of current reclamation activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of metals; possible variations in ore reserves, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of development or construction activities, as well as those factors discussed in the section entitled “Description of the Business – Risk Factors” in First Majestic Silver Corp.’s Annual Information Form for the year ended December 31, 2009, available on www.sedar.com, and Form 40-F on file with the United States Securities and Exchange Commission in Washington, D.C. Although First Majestic Silver Corp. has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such 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. First Majestic Silver Corp. does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.

Source: Company Website

Avino Samples Up to 0.65m of 4576 g/t Ag & 9.09 g/t Au at San Gonzalo

Good news from Avino today. Now that their mine is finally running again the company needs results like this to be able to grow further. In a few years Avino has developed from a sleeping company to a modern running operation. In 2010 the company started a Facebook and a Twitter acocunt, and is seeking continuous media exposure. We bought shares of Avino in July 2009 @ US$0.63 recently we sold 40% of our shares in Avino at a 304% profit.

When do you sell?

This sale had nothing to do with Avino, when a stock in our portfolio is exceeding 250% gains we sell about 40%-50% of our shares. This is just the method we use  to create “free” shares for our portfolio. Once we have these free positions in our portfolio we intend to NEVER sell them, unless a share price is clearly much to high. It could mean years of waiting (e.g. 10-20 years!), but at a certain point the companies will no longer be junior explores. Many things can happen from mergers to take-overs new properties, etc. etc. The point is that it is very likely that some of these positions will start paying dividends at some point. We use the money from the successful sales  to buy shares of new interesting companies. The goal is to do the same with these companies and thus building a very solid and ever growing portfolio. The best retirement plan ever!

Avino News Release:

Avino Silver and Gold Mines (Avino) is pleased to report on further progress from the bulk sampling program at Avino’s San Gonzalo mine 85Km North east of Durango, Mexico.

Avino has been developing two stopes 2-080 and 2-140 above the 2260 level. To date approximately 10,000 tonnes have been mined and stockpiled. The mill has been processing development rock from the initial drift along the San Gonzalo vein on the 2260 level but will start on the stockpiled rock from the stopes by the end of this week. There is approximately 1500 tonnes left to mine from the two stopes as part of the bulk sample but Avino has been extending level 2260 to the South east along the San Gonzalo vein structure towards drill hole SG-07-33. This hole drilled from surface in 2007 intersected 116.15 to 122.70m (6.55m) 0.76 g/t gold 141 g/t silver. A new stope will be started on this area of the San Gonzalo vein. (Plan maps can be viewed on Avino’s website).

As part of the stoping program channel samples have been taken across the back (i.e. roof) of the stope. The first series (sample numbers R Line 1 etc.) at approximately 2272 elevation (i.e. 12m above level 2260) and the second series (sample numbers II line 1 etc) at 2284m elevation or 24m above level 2260.

The sampling results are shown in the following tables

Sample line Width m Gold g/t Silver g/t Lead ppm
R- 1 2.35 1.058 232 2767
R- 2 1.95 1.396 251 2777
R- 3 2.50 1.214 534 4087
4 2.35 1.319 130 5606
R- 5 2.50 0.534 133 7641
R- 6 2.05 1.109 166 3277
R- 7 1.50 1.482 382 3116
R- 8 1.30 1.933 948 2906
R- 9 1.40 0.415 270 1651
R- 10 1.35 1.000 327 1454
R- 11 1.25 0.842 346 5832
R- 12 1.30 1.279 409 3101
R- 13 1.10 1.403 340 3120
R- 14 1.55 0.639 148 1216
Average 1.75 1.099 308 3701

Total sampled length along vein 24.45m.

Sample line Width m Gold g/t Silver g/t Lead ppm
II – 1 1.25 2.078 848 2958
II – 2 1.00 1.034 627 13194
II – 3 1.60 1.400 594 5833
II – 4 1.25 1.573 549 10533
II – 5 1.30 1.388 860 3159
II – 6 1.65 1.300 571 5543
II – 7 1.85 0.729 383 3134
II – 8 2.45 1.471 630 5297
II – 9 2.35 4.053 717 15022
II – 10 1.60 0.975 697 5755
II – 11 1.70 0.415 564 5533
II – 12 1.75 0.586 227 4745
II – 13 2.05 0.676 360 11671
II – 14 2.40 1.112 276 12173
II – 15 2.50 0.536 331 7402
II – 16 2.30 0.696 212 3942
II – 17 2.35 0.474 278 4962
II – 18 1.55 0.514 352 4139
II – 19 2.10 0.900 270 3921
II – 20 2.15 0.573 340 1865
II – 21 2.35 0.781 358 2035
II – 22 2.50 0.448 185 3666
II – 23 3.05 0.588 222 4820
II – 24 2.05 0.724 287 3725
II – 25 1.85 0.431 127 2875
II – 26 1.25 0.705 201 1973
II – 27 1.05 0.973 654 3039
II – 28 1.45 0.818 316 3196
II – 29 1.50 0.767 278 2375
II – 30 1.55 0.859 349 1525
II – 31 1.45 0.956 441 3583
II – 32 1.60 1.526 340 2716
Average 1.84 0.987 397 5307

Total sampled length along vein 58.80m.

The sampling encountered gold values as high as 9.09 g/t over a 0.45m width and 7.77 g/t (Series II Line 9 samples 156762 and 156763) Silver values as high as 1570 g/t over 0.6m width (sample 156746 series II, line 5) 4576 g/t over 0.65 m width (sample 156757 series II, line 8) and 4262 g/t over 0.45m width (sample 156762 series II line 9) were encountered.

In accordance with geostatistical conclusions in Resource estimate on the San Gonzalo vein by David Gunning P.Eng August 31, 2009, a 43101 compliant report these silver values were cut to 1500 grams per tonne.

The full sampling results can be viewed on Avino’s website

Samples are from channels cut across the San Gonzalo 1 vein. The samples were assayed by Inspectorate Labs. Samples were crushed and ground in Durango with pulps assayed in Reno, NV using fire assay and AA finish for gold, four acid digestion and AA for most silver with fire assay and gravimetric finish for very high silver, Aqua Regia digestion and ICP for base metals.

ON BEHALF OF THE BOARD

“David Wolfin”
______________________________
David Wolfin
President

Neither 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. This release contains statements that are forward-looking statements and are subject to various risks and uncertainties concerning the specific factors disclosed under the heading “Risk Factors” and elsewhere in the Company’s periodic filings with Canadian securities regulators. Such information contained herein represents management’s best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement.

Source: Company website

Rubicon Reports New High Grade Gold Intercepts From Exploration Drilling at the F2 Gold System, Phoenix Project, Red Lake, Ontario

Again Rubicon has announced excellent drilling results. In these results from yesterday there are many high grade gold intercepts adding more value to the F2 Gold System of Rubicon’s Phoenix Project in the famous Red Lake Area. Just the location of the Rubicon claims in-between well known, high grade mines, was one of the main reasons for us to invest in Rubicon. Still much of the property is unexplored, with more drilling planned in the area, the company has still an unbelievable potential. We bought shares of Rubicon in June 2010 @ CA$3.49 The stock has a 52-week trading range of  CA$3.24-CA$6.50 Today the stock opened @ CA$5.51 this means a 57.8% gain since our buy alert, even so the stock remains an interesting buy at this price.

Rubicon News Release:

-intercepts include 39.43 oz/t gold over 3.6 feet (1351.8 g/t gold over 1.1 metres), 2.07 oz/t gold over 11.5 feet (70.9 g/t gold over 3.5 metres) and 1.46 oz/ton gold over 11.2 feet (50.0 g/t gold over 3.4 metres)

VANCOUVER, Jan. 10 /CNW/ – Rubicon Minerals Corporation (RMX:TSX | RBY:NYSE-AMEX) (“Rubicon”) is pleased to announce further drill results from exploration drilling of the F2 Gold System, part of its 100% owned Phoenix Gold Project in the heart of the prolific Red Lake gold district of Ontario. Results in this release pertain to exploration drilling that is focused outside the area of current delineation drilling which Rubicon reports separately (Figures 1 and 2 and December 21, 2010 news release). The exploration drilling is designed to expand limits of the large F2 Gold System, and is directed at a 1.2 x 1.5 kilometre target area referred to as the ’9X’ target area (See Figure 1). The 9X target area contains a previously announced NI-43-101 compliant, 4.0 million ounce inferred gold resource estimate grading 20.1 g/t gold (0.59 oz/t gold) which includes all drilling up to the end of July, 2010. A total of over 38,000 metres of drilling has been carried out in the 9X target area since July 31, 2010, results from which (including those in the current news release) are not incorporated into the resource estimate.

New results confirm extension into new target areas south of the 9X target area

Several drill holes have extended gold mineralization south of the 9X target area, confirming that the F2 Gold System is present over at least a 600 metre (1970 feet) vertical extent in this area down to a depth of 1357 metres (4452 feet) below surface where it has been drill-tested to date. Signficant results include 2.07 oz/ton gold over 11.5 feet (70.9 g/t gold over 3.5 metres) in hole F2-108 and 39.43 oz/ton gold over 3.6 feet (1351.8 g/t gold over 1.1 metres) in hole F2-108-W1.

These latest holes are significant because they demonstrate that the F2 Gold System geology extends south of the original 9X target area over a considerable vertical extent and that the F2 Gold System continues to be open in all directions for further drilling. A previously reported intercept, located approximately 250 metres below surface (hole PR-10-18 returned 102.7 g/t gold over 0.6 metres), also south of the 9X target area, suggests that the vertical extent of the F2 Gold System could be significant in this area.

Drilling in Target Area 1 continues to extend gold mineralization

A number of holes were completed between depths of approximately 350 metres to 550 metres below surface in target area 1 (Figure 2 and Table 1). These include numerous high-grade intercepts such at 1.46 oz/ton gold over 11.2 feet (50.0 g/t gold over 3.4 metres) in hole 305-39, and 1.31 oz/t gold over 6.9 feet (45.0 g/t gold over 2.1 metres) in drill hole 305-47 (see Table 1 and Figures 1 and 2 for complete results).

These results are significant because they show that the F2 Gold System below the current area of delineation drilling is well developed and is likely to be amenable to future delineation drilling. As well, it provides confidence that the F2 Gold System will continue to fill in at greater depths (target areas 2 and 7) where drilling is currently wider spaced.

“These latest results continue to demonstrate both the very high hit ratio of holes drilled to date since discovery in 2008 as well as the continued presence of significant high-grade gold in newly tested areas. Of particular note is the extension of the system south of the already large 9X target area which bodes well for further expansion of the F2 Gold System,” stated David Adamson, President and CEO.

Rubicon Minerals Corporation is a well-funded exploration and development company, focused on exploring and developing its high-grade gold discovery at its Phoenix Gold Project in Red Lake, Ontario. Rubicon controls over 100 square miles of prime exploration ground in the prolific Red Lake gold district of Ontario which hosts Goldcorp’s high-grade, world class Red Lake Mine.

RUBICON MINERALS CORPORATION
“David W. Adamson”
President & CEO

Table 1:  Assay Results

Hole Elevation Gold
(g/t)
Width
(m)
Gold
(oz/ton)
Width
(ft)
9X Target
Area
F2-107 676 3.0 22.5 0.09 73.8 5
Incl. 667 7.1 5.0 0.21 16.4 5
And Incl. 669 18.4 1.0 0.54 3.3 5
F2-108 888 70.9 3.5 2.07 11.5 South of 9X
Incl. 887 245.0 1.0 7.15 3.3 South of 9X
F2-108 975 10.8 1.0 0.32 3.3 South of 9X
F2-108-W1 730 9.2 1.2 0.27 3.9 South of 9X
F2-108-W1 1357 1351.8 1.1 39.43 3.6 South of 9X
F2-109 Anomalous
F2-110 250 3.9 5.8 0.11 19.0 4
F2-111 No Significant Assays
F2-112 719 16.1 1.0 0.47 3.3 South of 9X
F2-113 Anomalous
122-74 1025 19.0 1.0 0.55 3.3 5
122-74 1075 22.1 2.0 0.64 6.6 5
Incl. 1076 34.4 1.0 1.00 3.3 5
122-74 1207 11.7 1.0 0.34 3.3 8
122-75 No Significant Assays
305-20 Anomalous
305-22 No Significant Assays
305-23 307 8.5 1.4 0.25 4.6 1
305-24 Anomalous
305-25 Anomalous
305-26 No Significant Assays
305-27 287 37.8 3.0 1.10 9.8 1
Incl. 287 102.0 1.0 2.98 3.3 1
305-29 301 6.0 2.0 0.18 6.6 1
305-30 459 5.4 7.0 0.16 23.0 1
Incl. 460 11.9 2.0 0.35 6.6 1
305-31 432 7.7 2.2 0.22 7.2 1
305-32 583 3.0 6.0 0.09 19.7 1
305-33 503 5.1 3.0 0.15 9.8 1
Incl. 502 14.6 0.9 0.43 3.0 1
305-34 255 3.9 3.0 0.11 9.8 1
305-35 297 6.9 5.0 0.20 16.4 1
Incl. 297 19.6 1.5 0.57 4.9 1
305-35 298 6.3 1.8 0.18 5.9 1
305-35 308 5.7 6.1 0.17 20.0 1
Incl. 308 16.8 1.0 0.49 3.3 1
305-35 309 3.5 3.1 0.10 10.2 1
305-35 312 4.4 3.9 0.13 12.8 1
305-36 342 3.2 19.0 0.09 62.3 1
Incl. 340 13.9 1.0 0.41 3.3 1
Incl. 346 24.7 1.0 0.72 3.3 1
305-36 362 4.7 8.5 0.14 27.9 1
Incl. 360 16.6 1.5 0.48 4.9 1
305-37 Anomalous
305-38 326 3.9 6.0 0.11 19.7 1
Incl. 325 12.7 1.0 0.37 3.3 1
305-38 333 14.6 2.2 0.43 7.2 1
305-39 394 5.4 13.0 0.16 42.6 1
Incl. 394 18.8 2.0 0.55 6.6 1
305-39 417 6.0 4.0 0.18 13.1 1
Incl. 416 12.8 1.6 0.37 5.2 1
305-39 451 50.0 3.4 1.46 11.2 1
Incl. 451 160.5 1.0 4.68 3.3 1
305-39 475 5.5 3.4 0.16 11.2 1
305-39 526 12.8 1.0 0.37 3.3 1
305-40 947 14.8 1.0 0.43 3.3 2
305-40 975 7.3 2.0 0.21 6.6 2
Incl. 975 12.2 1.0 0.36 3.3 2
305-41 388 36.3 2.0 1.06 6.6 3
Incl. 388 71.5 1.0 2.09 3.3 3
305-42 No Significant Assays
305-43 1157 7.7 12.1 0.22 39.7 7
Incl. 1155 11.9 4.5 0.35 14.8 7
305-44 553 9.0 1.2 0.26 3.9 2
305-45 671 5.3 3.0 0.15 9.8 2
Incl. 670 24.1 0.5 0.70 1.6 2
305-46 973 11.6 2.0 0.34 6.6 2
305-46 986 5.6 5.8 0.16 19.0 2
Incl. 985 13.8 2.0 0.40 6.6 2
305-47 394 45.0 2.1 1.31 6.9 1
Incl. 394 90.0 1.0 2.63 3.3 1

Holes with the prefix ’122′ and ’305′ were drilled from underground. Assays are uncut. Reported results satisfy the following criteria: >10.0 gram gold x metre product and >3.0 g/t gold. Anomalous holes satisfy the following criteria:  >2.5 gram gold x metre product and < 10.0 gram gold x metre product and > 2 g/t gold. A complete listing of results to date for the F2 Zone is available at www.rubiconminerals.com.

To vew Figure 1: F2 Gold System Plan Map see:

http://files.newswire.ca/617/Figure1F2GoldSystem.pdf

To View Figure 2: Composite Long Section Looking Northwest and 9X Target Outlines see:

http://files.newswire.ca/617/Figure2Composite.pdf

Assaying and Qualified Person
Drill core assays were conducted on sawn NQ-sized half core sections. Delineation drilling intercepts represent horizontal thickness which at this time is interpreted to be true thickness. The saw blade is routinely cleaned between samples when visible gold is noted during logging and sampling of the drill core. Assays from underground are conducted on face samples that employ a panel sample technique. This technique marks out intervals on the face or walls defined by geological or mineralogical boundaries taking no more than a one metre square for any panel. All assays were conducted by SGS Minerals Services using standard fire assay on a 30 gram (1 assay ton) sample with a gravimetric finish procedure. Assays are uncut as is standard practice in Red Lake. Standards, blanks and check assays were included at regular intervals in each sample batch. Check assays on 5% of samples are carried out at a third party independent laboratory. Gold standards were prepared by CDN Resource Laboratories Ltd. Drill work programs in this release were supervised by Terry Bursey, P.Geo. Regional Manager for Rubicon and the project exploration Qualified Person under the definition of NI 43-101.

Forward Looking Statements
This news release contains statements that constitute “forward-looking statements” within the meaning of Section 21E of the United States Securities Exchange Act of 1934 and “forward looking information” within the meaning of applicable Canadian provincial securities legislation (collectively, “forward-looking statements”). Forward-looking statements often, but not always, are identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “targeting” and “intend” and statements that an event or result “may”, “will”, “should”, “could”, or “might” occur or be achieved and other similar expressions. Forward-looking statements in this document include statements regarding the timing and nature of future exploration programs which are dependent on projections which may change as drilling continues, or if unexpected ground conditions are encountered. In addition, areas of exploration potential are identified which will require substantial drilling to determine whether or not they contain similar mineralization to areas which have been explored in more detail. The description of the extent of mineralized zones is not intended to imply that any economically mineable estimate of reserves or resources exists on the Phoenix project. Similarly, although geological features of the F2 Gold System are interpreted to show similarities to nearby gold producing mines owned by third parties, this should not be interpreted to mean that the F2Gold System has, or that it will, generate similar reserves or resources. Significant additional drilling is required at F2 to fully understand system size.

The forward-looking statements that are contained in this news release are based on various assumptions and estimates by the Company and involve a number of risks and uncertainties. As a consequence, actual results might differ materially from results forecast or suggested in these forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause the actual results to differ include market prices, results of exploration, availability of capital and financing on acceptable terms, inability to obtain required regulatory approvals, unanticipated difficulties or costs in any rehabilitation which may be necessary, market conditions and general business, economic, competitive, political and social conditions. These statements are based on a number of assumptions, including assumptions regarding general market conditions, timing and receipt of regulatory approvals, the ability of the Company and other relevant parties to satisfy regulatory requirements, the availability of financing for proposed transactions and programs on reasonable terms and the ability of third-party service providers to deliver services in a timely manner. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements, there may be other factors which cause actual results to differ.

Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws. 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 Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Source: Company website

Copper Creek To Commence Work On Santa Lucia Property

Recently we bought shares of Copper Creek Gold. In a joint venture with Kootenay Gold work will commence at the Santa Lucia Property. Today the stock is up 2.5 cents (27,7%) to CA$0.115 we bought @ CA$0.075 meaning a 53,3% gain. We think both the Santa Lucia Project and the Bonsai Project are very promising, but still this investment will remain a very high risk one until drill results confirm the data we expect. These ground samples from the Santa Lucia Property look very promising.

Copper Creek Gold News Release:

VANCOUVER, BRITISH COLUMBIA – January 6, 2011 – Copper Creek Gold Corp. (“Copper Creek” or the “Company”; TSX VENTURE: CPV) is pleased to announce that it plans to commence the exploration of its Santa Lucia property in Sonora, Mexico in early February 2011. Initially the exploration will consist of trenching, sampling and detailed geological mapping with a focus on the silver rich La Fortuna zone. This area is the site of numerous high grade gold and silver samples taken from surface outcrop, just west of a number of old artisanal mining pits.
Subsequent to the sampling program, 2200m of drilling is planned in approximately 10 holes. These holes will test the La Fortuna zone at depth, and will also penetrate untested resistivity anomalies along the 4km strike length of the La Fortuna North property.
These resistivity anomalies can be seen in both IP and CSAMT surveys done by Cominco Ltd.’s Mexican subsidiary in the 1990’s. The anomalies underlie over 4km of surface gold mineralization, and parallel a regional range-bounding fault that is interpreted to control mineralization on the property. These resistivity anomalies remain largely untested by drilling.
In late November 2010 the Santa Lucia North area was visited by a joint team of Kootenay Gold and Copper Creek geologists and managers. Six grab samples were collected from the Santa Lucia North area by Kristian Whitehead, Copper Creek’s consulting geologist, and were delivered to ALS Chemex Labs in North Vancouver, British Columbia for analysis. The samples verified the existence of strong gold-silver mineralization, with gold values ranging from 31 ppb Au to 1670 ppb Au and silver ranging from <5 ppm Ag to 64.9 ppm Ag. Analytical results are shown below.

Sample Area Description Au
(ppb)
Ag
(ppm)
As
(ppm)
Sb
(ppm)
H540836 La Fortuna tuff w/drusy quartz & hematite 321 5.5 5 5
H540837 West pit quartz vein 1670 44.5 12 5
H540838 La Fortuna silicified rhyolite w/ quartz vein 1065 32.4 17 5
H540839 Federico zone sil. rhyolite w/stockwork qtz veins 359 2.4 <5 5
H540840 East pit rhyolite w/minor silicification 449 64.9 6 <5
H540841 trench mottled silicified rhyolite 31 3.0 45 7

The Company has commissioned Robert G. Cuffney, P.Geo., of Reno, Nevada to produce an N1 43-101 compliant report on the property. This will be available to be viewed on Copper Creek Gold Corp.’s web site, and on SEDAR, upon acceptance by the TSX Venture Exchange.
Copper Creek can earn a 60% interest in the Santa Lucia project from Kootenay Gold Inc. by spending $2,000,000 in exploration expenses and by making various cash and share payments to Kootenay over a 4 year period. This agreement remains subject to Exchange approval.
About Copper Creek
Copper Creek Gold Corp. is a Canadian based mineral exploration company actively exploring in Northern British Columbia and Mexico. The Company holds two exploration projects, the Bonsai Property located in the Eskay Creek region of Northwest British Columbia, Canada, and the Santa Lucia Gold Property located at Sonora, Mexico. The Company may earn up to a 70% interest in the Bonsai property from Teuton Resources Corp. and a 60% interest in the Santa Lucia property from Kootenay Gold Inc. subject to approval by the TSX Venture Exchange.
FOR FURTHER INFORMATION CONTACT
James Anderson, President Phone: (604) 662-3004 extension #105 Email: james@coppercreekgold.com
Bing Jung, CEO Phone: (604) 662-3004 extension # 101 Email: bjung@coppercreekgold.com
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada (IIROC) accepts responsibility for the adequacy or accuracy of this release.
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding future plans and objectives of Copper Creek are forward looking-statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Copper Creek’s plans or expectations include availability of capital and financing, general economic, market or business conditions, regulatory changes, timelines of government or regulatory approvals and other risks inherent in the oil and gas and mineral exploration industries and from the time to time in the filings made by Copper Creek. Copper Creek makes all reasonable efforts to update its corporate material, documentation and forward-looking information on a timely basis.

Source: Company website

Minera Andes Added to the S&P/TSX Global Mining Index

News Release:

TORONTO, ONTARIO, Dec. 23, 2010 (Marketwire) — Minera Andes Inc. (TSX:MAI)(OTCBB:MNEAF) is pleased to announce that as a result of the Quarterly S&P/TSX index review, Standard & Poor’s Canadian Index Operations added Minera Andes to the S&P/TSX Global Mining Index effective December 20, 2010.

Also, further to the Company’s news release of November 22, 2010 an updated technical report on the San Jose Mine was filed on SEDAR today.

About Minera Andes

Minera Andes is an exploration company exploring for gold, silver and copper in Argentina with three significant assets: A 49% interest in Minera Santa Cruz SA, owner of the San Jose Mine in close proximity to Andean Resources’ Cerro Negro project; 100% ownership of the Los Azules copper deposit with an inferred mineral resource of 10.3 billion pounds of copper and an indicated resource of 2.2 billion pounds of copper; and, 100% ownership of a portfolio of exploration properties bordering Andean’s Cerro Negro project in Santa Cruz Province. The Corporation had $10 million USD in cash as at September 30, 2010 with no bank debt. Rob McEwen, Chairman and CEO, owns 33% of the company.

This news release has been submitted by Perry Ing, Chief Financial Officer of the Corporation. For further information, please contact Jim Duff or visit our Website: www.minandes.com.

Caution Concerning Forward-Looking Statements:

This press release contains certain forward-looking statements and information. The forward-looking statements and information express, as at the date of this press release, the Corporation’s plans, estimates, forecasts, projections, expectations or beliefs as to future events and results and management’s understanding of proposed legislative changes. Forward-looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements. Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements include, but are not limited to, factors associated with fluctuations in the market price of precious metals, mining industry risks, risks associated with foreign operations, risks related to litigation, property title, the state of the capital markets, environmental risks and hazards, uncertainty as to calculation of mineral resources and reserves and other risks.

Readers should not place undue reliance on forward-looking statements or information. The Corporation undertakes no obligation to reissue or update forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. See the Corporation’s annual information form for additional information on risks, uncertainties and other factors relating to the forward-looking statements and information. All forward-looking statements and information made in this news release are qualified by this cautionary statement.

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

Minera Andes Inc. Chief Financial Officer 647-258-0395 or Toll-Free: 1-866-441-0690 647-258-0408 (FAX) info@minandes.com www.minandes.com

Source: TMX.com

Great Panther Intersects Multiple Zones Of High Grade Silver-Gold In Step-Out Drilling At San Ignacio Property, Guanajuato

Great Panther continues to bring wonderful drilling results from its Guanajuato Project. The San Ignacio Property is located just 5 kilometres from the main Guanajuato Mine, this is a huge benefit and will prove to be so even more in the future when ore from this property can be processed at the main mine complex. We bought shares of Great Panther in September 2009 @ CA$0.72 using today’s closing of CA$2.47 this means a 243% gain!
Great Panther News Release:

GREAT PANTHER SILVER LIMITED (TSX: GPR; the “Company”) is pleased to announce that the second section of diamond drill holes at the San Ignacio Mine Property, Guanajuato has intersected numerous zones of silver-gold mineralization, some of which appear to correlate well with the first two holes and others that appear to be new zones. Two holes, ESI10-03 and 04, were drilled easterly at angles of -40° and -60° from a drill setup approximately 45 metres north of holes ESI10-01 and 02 (see news releases dated October 28th & November 15th 2010).

Hole ESI10-03 intersected 15 silver-gold mineralized zones, including the Melladito zone, which returned 212g/t silver and 1.99g/t gold over 4.3 metres, the Nombre de Dios zone with 850g/t silver and 3.75g/t gold over 3.1 metres, and a footwall stockwork zone with 680g/t silver and 1.94g/t gold over 3.85 metres. The fourth hole, ESI10-04, was drilled under ESI10-03 and intersected five silver-gold mineralized zones, including the Melladito zone with 240g/t silver and 0.8g/t gold over 5.8 metres, the Nombre de Dios zone with 2,020g/t silver and 7.80g/t gold over 0.9 metres, and a footwall stockwork zone with 660g/t silver and 1.73g/t gold over 3.25 metres, including 0.80 metres assaying 2,380g/t silver and 6.57g/t gold.

Both ESI10-03 and 04 were longer holes, and as such drilled deeper and further east, than ESI10-01 and 02. New and more easterly footwall stockwork zones were intersected in ESI10-03 and 04, the interpretation of which is still tentative, but the Company is pleased that previously unknown silver-gold mineralized zones are being intersected as the drilling is extended eastward. Highlights of holes ESI10-03 and 04 are presented in the tables below, while a plan map showing the location of Great Panther’s San Ignacio drill-holes, and an interpretative cross section, are posted on the Company web-site under the Guanajuato Mine Complex section.

The deepest stockwork intersection in ESI10-04 (3.25 metres of 660g/t silver and 1.73g/t gold) is at a vertical depth below surface of approximately 420 metres. This may correlate with the zone of similar grades and width at the bottom of hole ESI10-03 (3.85 metres of 680g/t silver and 1.94g/t gold) and represents a significant vertical interval of high grade silver-gold mineralization, down to 1,980 metres above sea level (“masl”). Typically in the La Luz vein camp, the bottoms of the mineralized zones are at 2,100 — 2,150 masl. Interpretation of the various structures is ongoing and as down-dip infill drilling commences a better understanding will emerge.

In light of the success of the 2010 drilling at San Ignacio, Great Panther’s Board of Directors has approved a new 2011 budget of $2.8 million for the exploration and development of the San Ignacio property. As soon as the appropriate permits are in place, an expanded drilling program will commence. Potential sites to establish a portal for an underground ramp are also being evaluated. Due to the proximity of the San Ignacio Property to the Company’s main Guanajuato operation, any mineralization intersected in the course of underground exploration and development can be trucked to the plant for processing. In this way, cash flow provided by the additional tonnage can be used to offset the cost of the exploration and development program.

The San Ignacio Mine property covers approximately 4 kilometres of strike length on the La Luz vein system, which is parallel to, and 5 kilometres west of, the principal Veta Madre structure that hosts the main Guanajuato mines (see map on website at http://www.greatpanther.com/i/pdf/GTO-SanIgnacio-LocationMap.pdf). The La Luz district marks the site of the first discovery of silver in the area, in the year 1548, which led to the discovery of the Veta Madre silver-gold deposits in 1550. It comprises a swarm of generally north-northwest striking, vertical to west dipping quartz veins and breccias with associated low sulphidation silver-gold mineralization, along an approximate 8 kilometre long trend.

Highlights of Drill Hole ESI10-03:

SAN IGNACIO, ESI10-03, -40, N49E, 416.9m
ZONE From (m) To (m) Width (m) Au (g/t) Ag (g/t)
Melladito hanging wall 57.70 58.00 0.30 0.57 282
Melladito hanging wall 96.95 97.65 0.70 0.66 162
Melladito hanging wall 118.45 118.90 0.45 1.03 336
Melladito hanging wall 131.30 131.50 0.20 3.75 590
Melladito hanging wall 146.95 147.15 0.20 1.18 220
Melladito zone 148.30 149.90 1.60 1.03 33
149.90 151.35 1.45 1.83 128
151.35 152.60 1.25 3.39 539
composite 148.30 152.60 4.30 1.99 212
Intermediate 220.10 220.25 0.15 1.01 331
Intermediate 233.10 233.45 0.35 0.56 140
Intermediate 254.10 254.40 0.30 1.27 23
Nombre de Dios zone 268.45 269.35 0.90 3.77 823
269.35 270.60 1.25 4.76 1130
270.60 271.00 0.40 2.38 283
271.00 271.55 0.55 2.39 668
composite 268.45 271.55 3.10 3.75 850
Footwall vein 299.60 299.80 0.20 3.47 20
Footwall vein 306.45 306.85 0.40 3.20 251
Footwall vein 342.90 343.05 0.15 20.40 342
Footwall stockwork 412.35 413.45 1.10 0.99 357
413.45 414.60 1.15 1.74 216
414.60 415.40 0.80 1.42 341
415.40 416.20 0.80 4.04 2128
composite 412.35 416.20 3.85 1.94 680

Highlights of Drill Hole ESI10-04:

SAN IGNACIO, ESI10-04, -60, N55E, 570.0m
ZONE
From (m)
To (m)
Width (m)
Au (g/t)
Ag (g/t)
Melladito zone
218.10
219.00
0.90
0.53
303
219.00
220.75
1.75
0.2
76
220.75
221.90
1.15
0.61
77
221.90
223.10
1.20
1.81
345
223.10
223.90
0.80
1.21
606

composite

218.10
223.90
5.80
0.80
240
Melladito footwall
232.50
233.15
0.65
0.76
159
Nombre de Dios zone
399.00
399.90
0.90
7.8
2020
Footwall vein
474.10
474.40
0.30
4.67
2020
Footwall stockwork
484.35
485.70
1.35
0.18
178
485.70
486.80
1.10
0.1
1
486.80
487.60
0.80
6.57
2380

composite

484.35
487.60
3.25
1.73
660

Robert F. Brown, P. Eng. and Vice President of Exploration for the Company is the Qualified Person for the Guanajuato Mine, under the meaning of NI 43-101. A full QA/QC program is being followed including the regular insertion of splits, blanks, and standards into the core sampling sequence. Analysis of the drill core samples is being conducted at the Guanajuato Mine on-site laboratory, independently operated by SGS.

For further information, please visit the Company’s website at www.greatpanther.com, contact B&D Capital at telephone 604 685 6465, fax 604 899 4303 or e-mail info@greatpanther.com.

ON BEHALF OF THE BOARD

“Robert A. Archer”

Robert A. Archer, President & CEO

This news release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of the Securities Act (Ontario) (together, “forward-looking statements”). Such forward-looking statements may include but are not limited to the Company’s plans for production at its Guanajuato and Topia Mines in Mexico, exploring its other properties in Mexico, the overall economic potential of its properties, the availability of adequate financing and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements expressed or implied by such forward-looking statements to be materially different. Such factors include, among others, risks and uncertainties relating to potential political risks involving the Company’s operations in a foreign jurisdiction, uncertainty of production and cost estimates and the potential for unexpected costs and expenses, physical risks inherent in mining operations, currency fluctuations, fluctuations in the price of silver, gold and base metals, completion of economic evaluations, changes in project parameters as plans continue to be refined, the inability or failure to obtain adequate financing on a timely basis, and other risks and uncertainties, including those described in the Company’s Annual Report on Form 20-F for the year ended December 31, 2009 and reports on Form 6-K filed with the Securities and Exchange Commission and available at www.sec.gov and Material Change Reports filed with the Canadian Securities Administrators and available at www.sedar.com.

Source: Company website

Rubicon Commences Bulk Sample and Updates Delineation Drilling F2 Gold System, Phoenix Project, Red Lake, Ontario

Today Rubicon announced more results from its Phoenix Project in Red Lake, Ontario. The project really lives up to  “Red Lake Standard”.  We boughs shares of Rubicon last July @ CA$3.49 using today’s intra-day high of CA$5.69 this means a 63% gain in just 5 months!

Rubicon News Release:

VANCOUVER, Dec. 21 /CNW/ – Rubicon Minerals Corporation (RMX:TSX | RBY:NYSE-AMEX) (“Rubicon”) is pleased to announce that bulk sampling has commenced within the core area of the F2 Gold System. Delineation drilling is being carried out in the core part of the previously announced NI 43-101 4.0 million ounce inferred gold resource estimate grading 20.1 g/t gold (0.59 oz/t gold). The bulk sampling has been initiated on one of the newly identified sub-zones (the “WLB2 Zone”) within the F2 Core Zone area, approximately 300 metres below surface. The northeast-trending WLB2 Zone (Figure 1) has been successfully defined by 18 drill holes over a strike length of 55 metres and 20 metres vertically (the limit of current delineation drilling). Previous, wider spaced drilling in this area suggests a minimum depth potential of 230 metres which remains open both up and down dip.

Definition holes are at a nominal spacing of 7.5 metres and have a horizontal length-weighted average gold grade of 1.07 oz/ton gold over 6.6 feet (36.6 g/t gold over 2.0 metres) horizontal width (see Table 1 for additional assay results from the WLB2 zone). It is estimated that a bulk sample of approximately 1000 tonnes will be extracted from the WLB2 Zone from which grade reconciliation and metallurgical work will be completed during Q1, 2011.

A second, 1000 tonne bulk sample will be taken early in 2011 from one or more of the central area sub-zones currently being defined on the same level (Figure 1).  Based on observations from underground mapping and sampling, drilling, and advice from metallurgical consultants Soutex Ltd., bulk samples from separate zones are preferred to a single sample from one zone in order to allow an assessment of potential differences between individual zones. Metallurgical test work on this bulk sample will also be completed during Q1, 2011.

WLB2 area

In the 360 cross cut in the WLB2 Zone (Figure 1), systematic face sampling indicates an average grade in two separate rounds taken of 0.86 oz/ton gold (29.4 g/t gold) and 0.35 oz/ton (11.96 g/t gold) gold, respectively from face and wall panel samples covering an area of 7.3 metres in length x 3.0 metres in height (24 x 10 feet) each round. This area was cut by a previous delineation drill hole which graded 6.7 g/t gold over 6.3 metres including 17.4 g/t gold over 1.5 metres. The systematic face sampling represents a volumetrically more significant sample compared to the single drill hole in this area.

Central area drilling

Definition drilling in this area is ongoing and is being extended to test for the presence of additional NW-trending (F2) zones within a NE trending (F1) mineralized corridor (Figure 1). Significant assays include drill hole D305-04-027 intercept 1.14 oz/t gold over 16.4 feet (39.1 g/t gold over 5.0 metres), drill hole D305-04-028 intercept 1.55 oz/t gold over 36.1 feet (53.3 g/t gold over 11.0 metres) and drill hole D305-05-023 intercept 15.88 oz/t gold over 7.5 feet (544.5 g/t gold over 2.3 metres). To date, multiple visible gold bearing zones have been identified that are oriented in both the F1 and F2 directions. A tabulated summary of results is presented in Table 2. When previous, wider spaced drilling is incorporated (see compilation plan map – Figure 1), mineralization in the central area can currently be inferred for approximately 300 metres vertically. Where delineation drilling has taken place, new sub-zones are being intersected where previously no holes were present or where only low grade gold was present. Future delineation drilling will test if this pattern repeats to depth.

“Although it is early days, we are encouraged that we are seeing more gold zones in the area of our drift and cross-cuts and also in our delineation drill holes than had been suggested by our initial wider spaced drilling. We are seeing clear evidence of at least two major structural trends both of which can host visible and high-grade gold. The zones we are defining are of similar dimensions to those documented from the Red Lake Mine and, based on drilling to date, they have good potential to continue to depth,” stated David Adamson, President and CEO.

Rubicon Minerals Corporation is a well-funded exploration and development company, focused on exploring and developing its high-grade gold discovery at its Phoenix Project in Red Lake, Ontario. Rubicon controls over 100 square miles of prime exploration ground in the prolific Red Lake gold district of Ontario which hosts Goldcorp’s high-grade, world class Red Lake Mine.

RUBICON MINERALS CORPORATION
“David W. Adamson”
President & CEO

Table 1:  WLB2 Zone Delineation Drilling Assay Results

Hole Elevation
Level
Gold
(g/t)
Width
(m)
Gold
(oz/ton)
Width
(ft)
9X
Target
Area
D305-05-013* 304 17.0 1.8 0.50 5.9 1
303 5.6 3.6 0.16 11.8 1
303 26.5 1.0 0.77 3.3 1
D305-05-014* 302 669.1 0.8 19.52 2.6 1
D305-05-015* 303 5.2 4.1 0.15 13.4 1
D305-05-016* 295 568.9 2.5 16.59 8.2 1
Incl. 295 1406.8 1.0 41.03 3.3 1
D305-05-017* 304 6.7 6.3 0.20 20.7 1
Incl. 304 17.4 1.5 0.51 4.9 1
And Incl. 304 38.5 0.5 1.12 1.6 1
D305-05-018* Anomalous
D305-05-019* Anomalous
D305-05-020* 297 93.8 2.0 2.74 6.6 1
Incl. 297 183.0 1.0 5.34 3.3 1
D305-05-037 303 13.6 1.7 0.40 5.6 1
302 8.7 1.5 0.25 4.9 1
D305-05-038 Anomalous
D305-05-039 300 9.8 5.5 0.29 18.0 1
Incl. 301 20.8 1.9 0.61 6.2 1
D305-05-040 Anomalous
D305-05-041 Anomalous
D305-05-042 302 78.6 0.5 2.29 1.6 1
D305-05-043 283 19.5 2.0 0.57 6.6 1
Incl. 282 39.5 1.0 1.15 3.3 1
D305-05-044 292 16.2 1.0 0.47 3.3 1
D305-05-045 293 7.8 2.0 0.23 6.6 1
Incl. 293 13.5 1.0 0.39 3.3 1
D305-05-046 293 5.1 4.0 0.15 13.1 1
289 5.4 3.8 0.16 12.5 1
Incl. 288 14.1 0.9 0.41 3.0 1

*previously released results

Holes with the prefix ‘D305′were drilled from underground on the 305 metre level and are part of the delineation program. Assays are uncut. Reported results satisfy the following cut-off criteria: An intercept equal to or greater than 10 g/t gold (gram) x (metre) product value and possessing an average grade of equal to or greater than 5.0 g/t gold.

Anomalous holes satisfy the following criteria:  >2.5 gram gold x metre product and > 2 g/t gold.  A complete listing of results to date for the F2 Gold System is available at www.rubiconminerals.com.

Table 2:  Central Area Delineation Drilling Assay Results

Hole Elevation
Level
Gold
(g/t)
Width
(m)
Gold
(oz/ton)
Width
(ft)
9X
Target
Area
D305-04-021 Anomalous
D305-04-023 Anomalous
D305-04-023 251 24.2 1.4 0.71 4.6 1
Incl. 251 36.3 0.9 1.06 3.0 1
D305-04-023 226 5.3 4.0 0.15 13.1 1
D305-04-024 248 14.8 2.0 0.43 6.6 1
Incl. 248 27.6 1.0 0.81 3.3 1
D305-04-024 242 178.0 0.7 5.19 2.3 1
218 6.1 4.0 0.18 13.1 1
Incl. 217 18.3 1.0 0.53 3.3 1
D305-04-024 209 6.2 5.0 0.18 16.4 1
Incl. 210 16.3 1.0 0.48 3.3 1
D305-04-026 231 126.4 0.5 3.69 1.6 1
D305-04-027 103 39.1 5.0 1.14 16.4 1
Incl. 104 361.8 0.5 10.55 1.6 1
D305-04-028 326 53.3 11.0 1.55 36.1 1
Incl. 327 92.9 6.1 2.71 20.0 1
And Incl. 327 162.5 3.2 4.74 10.5 1
And Incl. 328 676.7 0.7 19.74 2.3 1
D305-04-029 Anomalous
D305-05-021 303 6.0 14.8 0.18 48.6 1
Incl. 303 16.3 1.8 0.48 5.9 1
303 31.8 1.0 0.93 3.3 1
D305-05-022 295 5.1 4.5 0.15 14.8 1
Incl. 293 19.7 1.5 0.57 4.9 1
And Incl. 293 26.8 1.0 0.78 3.3 1
293 11.4 2.9 0.33 9.5 1
D305-05-023 308 11.1 1.1 0.32 3.6 1
309 5.0 14.0 0.15 45.9 1
Incl. 309 15.2 2.0 0.44 6.6 1
311 5.0 2.2 0.15 7.2 1
311 544.5 2.3 15.88 7.5 1
Incl. 311 1240.9 1.0 36.19 3.3 1
312 20.8 4.0 0.61 13.1 1
Incl. 312 34.7 2.0 1.01 6.6 1
D305-05-024 303 5.3 5.0 0.15 16.4 1
Incl. 303 13.1 1.5 0.38 4.9 1
303 6.0 4.0 0.18 13.1 1
Incl. 303 19.5 1.0 0.57 3.3 1
D305-05-025 298 7.3 4.9 0.21 16.1 1
Incl. 298 39.5 0.7 1.15 2.3 1
D305-05-026 308 8.1 2.0 0.24 6.6 1
Incl. 308 13.9 1.0 0.41 3.3 1
311 11.9 15.1 0.35 49.5 1
Incl. 311 56.7 3.0 1.65 9.8 1
D305-05-027 303 25.9 1.0 0.76 3.3 1
D305-05-028 296 10.1 1.0 0.29 3.3 1
293 22.4 3.0 0.65 9.8 1
Incl. 293 41.8 1.5 1.22 4.9 1
D305-05-028 292 5.1 7.0 0.15 23.0 1
Incl. 292 11.3 2.0 0.33 6.6 1
D305-05-029 310 9.1 6.5 0.27 21.3 1
Incl. 310 29.4 1.5 0.86 4.9 1
311 15.1 1.0 0.44 3.3 1
313 28.6 6.1 0.83 20.0 1
Incl. 313 162.0 1.0 4.73 3.3 1
315 74.8 3.0 2.18 9.8 1
Incl. 315 217.3 1.0 6.34 3.3 1
D305-05-030 Anomalous
D305-05-031 Anomalous
D305-05-032 Anomalous
D305-05-047 300 5.0 2.6 0.15 8.5 1

Holes with the prefix ‘D305′were drilled from underground on the 305 metre level and are part of the delineation program. Assays are uncut. Reported results satisfy the following cut-off criteria: An intercept equal to or greater than 10 g/t gold (gram) x (metre) product value and possessing an average grade of equal to or greater than 5.0 g/t gold.

Anomalous holes satisfy the following criteria:  >2.5 gram gold x metre product and > 2 g/t gold.  A complete listing of results to date for the F2 Gold System is available at www.rubiconminerals.com.

Figure 1:  Plan Map of Central and WBL2 Areas of Drilling
(Results included for the 103 through 328 metre levels)

To view map please visit: http://files.newswire.ca/617/CentralAndWBL2.pdf

Assaying and Qualified Person

Drill core assays were conducted on sawn NQ-sized half core sections. Delineation drilling intercepts represent horizontal thickness which at this time is interpreted to be true thickness. The saw blade is routinely cleaned between samples when visible gold is noted during logging and sampling of the drill core. Assays from underground are conducted on face samples that employ a panel sample technique. This technique marks out intervals on the face or walls defined by geological or mineralogical boundaries taking no more than a one metre square for any panel. All assays were conducted by SGS Minerals Services using standard fire assay on a 30 gram (1 assay ton) sample with a gravimetric finish procedure. Assays are uncut as is standard practice in Red Lake. Standards, blanks and check assays were included at regular intervals in each sample batch. Check assays on 5% of samples are carried out at a third party independent laboratory. Gold standards were prepared by CDN Resource Laboratories Ltd. Drill work programs in this release were supervised by Terry Bursey, P.Geo. Regional Manager for Rubicon and the project exploration Qualified Person under the definition of NI 43-101. Bulk sample and underground face panel sampling programs in this release were supervised by Eric Hinton, P.Eng, Project Manager for Rubicon and the operations Qualified Person under the definition of the NI 43-101.

Forward Looking Statements

This news release contains statements that constitute “forward-looking statements” within the meaning of Section 21E of the United States Securities Exchange Act of 1934 and “forward looking information” within the meaning of applicable Canadian provincial securities legislation (collectively, “forward-looking statements”) . Forward-looking statements often, but not always, are identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “targeting” and “intend” and statements that an event or result “may”, “will”, “should”, “could”, or “might” occur or be achieved and other similar expressions. Forward-looking statements in this document include statements regarding the timing and nature of future exploration programs which are dependent on projections which may change as drilling continues, or if unexpected ground conditions are encountered. In addition, areas of exploration potential are identified which will require substantial drilling to determine whether or not they contain similar mineralization to areas which have been explored in more detail. The description of the extent of mineralized zones is not intended to imply that any economically mineable estimate of reserves or resources exists on the Phoenix project. Similarly, although geological features of the F2 Gold System are interpreted to show similarities to nearby gold producing mines owned by third parties, this should not be interpreted to mean that the F2Gold System has, or that it will, generate similar reserves or resources. Significant additional drilling is required at F2 to fully understand system size.

The forward-looking statements that are contained in this news release are based on various assumptions and estimates by the Company and involve a number of risks and uncertainties. As a consequence, actual results might differ materially from results forecast or suggested in these forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause the actual results to differ include market prices, results of exploration, availability of capital and financing on acceptable terms, inability to obtain required regulatory approvals, unanticipated difficulties or costs in any rehabilitation which may be necessary, market conditions and general business, economic, competitive, political and social conditions. These statements are based on a number of assumptions, including assumptions regarding general market conditions, timing and receipt of regulatory approvals, the ability of the Company and other relevant parties to satisfy regulatory requirements, the availability of financing for proposed transactions and programs on reasonable terms and the ability of third-party service providers to deliver services in a timely manner. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements, there may be other factors which cause actual results to differ.

Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws. 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.

Source: Company website

Minera Andes Announces Updated Preliminary Assessment For Its Los Azules Copper Deposit

Great news today from Minera Andes, the only big copper play in our portfolio. Shares are trading up 5% after the opening on Friday. The gold and silver that comes as a by-product in this project almost covers the mining costs. Essentially this means they are mining copper almost for free. With copper prices soaring the last weeks and strong fundamentals for copper the coming years, this project has become a real marvel. We boughs shares of Minera Andes in September 2009 @ CA$0.72 using today’s intra-day high of $CA2.92 this means a whopping 305,5% gain!

Minera Andes News Release

TORONTO, ONTARIO – December 16, 2010 – Minera Andes Inc. (TSX: MAI and US OTC: MNEAF) – is pleased to announce the results of an updated preliminary assessment (“PA”) on its 100% owned Los Azules Copper Project (the “Project”) located in the San Juan Province of western central Argentina. It is based on the updated resource estimate announced in June 2010 and higher base case metal price assumptions.

  • Using a Copper price of $3.00/ lb
  • Base case pre-tax Net Present Value (“NPV”) is $2.8 billion and the Internal Rate of Return (“IRR”) is 21.4%, at a discount rate of 8%
  • Life of mine Cash Operating Costs of $0.96/lb of copper net of gold and silver by-product credits.
  • Initial Capital $2.9 billion
  • Capital Payback in 3 years.
  • Mine life of 25 years.

Rob McEwen, Chairman and CEO of Minera Andes, said:

“We are advancing the engineering studies on Los Azules to systematically de-risk the project. The field season is just getting underway, and we are currently mobilizing the first two of five drill rigs to the project. In addition to continuing the infill and step out drilling, we will start to test some of the newly identified deeper geophysical targets this season.”

The Los Azules Copper Project is an advanced-stage porphyry copper exploration project located in the cordilleran region of San Juan Province, Argentina near the border with Chile. The deposit is a typical porphyry copper system in that the upper part of the system consists of a barren leached cap, which is underlain by a high-grade secondary enrichment blanket, and the primary mineralization below the secondary enrichment zone extends to at least 650 meters, which is the depth of the deepest holes drilled to date. The deposit is approximately one kilometer wide by four kilometers long, and it is open in several directions.

Highlights of the updated Preliminary Assessment are shown below. Details may be found in an updated technical report which will be posted on SEDAR following the issuance of this news release.

NPV ($3.00/lb Cu, 8% discount rate) $2,826 million
IRR 21.4%
Initial Capital Expenditure $2,851 million
LOM Average Operating Costs $7.82/t ore
LOM C-1 Cash Costs (net by-product credits) $0.96/lb Cu mined
Nominal Mill Capacity 100,000 tpd
Annual Throughput 36 million tonnes
Mine Life 25.4 years
Life-of-Mine Strip Ratio 1.37
LOM average annual copper-in-concentrate production 169,100 tonnes
First 5 Years average annual copper-in-concentrate production 226,500 tonnes

All monetary amounts are expressed in US dollars unless otherwise stated. The PA is preliminary in nature and includes the use of inferred resources which are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. Thus, there is no certainty that the results of the PA will be realized. Actual results may vary, perhaps materially. The level of accuracy for Preliminary Assessment estimates is approximately +/- 35%.

Compared to the previous Preliminary Assessment released in March 2009, the NPV discounted at 8% has increased from $496 million to $2.9 billion and the IRR has increased from 10.8% to 21.4%. In addition, the payback of pre-production capital has decreased from 6.4 years to 3.1 years from the start of production.

The main driver of the improved project economics is that the base case copper price has been increased from $1.90/pound to $3.00/pound. Specifically, the higher copper price added approximately $3.2 billion to the NPV, and the increased resources added approximately $2.1 billion.

The benefits of the higher copper price and increased resources were significantly offset by increases in the estimated operating costs ($695 million), capital costs ($100 million) and export retention taxes and royalties ($3.4 billion).

The updated Preliminary Assessment also incorporates updated property status and ownership information, revised locations for the project facilities, and an updated geological interpretation.

Project Economics

The Preliminary Assessment contains a cash flow valuation model based upon the geological and engineering work completed to date and technical and cost inputs developed by Samuel Engineering, Inc., Ausenco Vector and MTB Project Management Professionals, Inc. The base case was developed using long term forecast metal prices of $3.00/lb for copper, $980/oz for gold, and $15.60/oz for silver.

The following chart shows the sensitivity of the base case’s NPV and IRR to changes in the copper price: (8% real discount rate).

The following chart shows the sensitivity to metal prices, operating costs, and capital cost. The graph shows that the project NPV is much more sensitive to metal prices than to capital or operating costs.

About Minera Andes

Minera Andes is an exploration company exploring for gold, silver and copper in Argentina with three significant assets: A 49% interest in Minera Santa Cruz SA, owner of the San José Mine in close proximity to Andean Resources’ Cerro Negro project; 100% ownership of the Los Azules copper deposit with an inferred mineral resource of 10.3 billion pounds of copper and an indicated resource of 2.2 billion pounds of copper; and, 100% ownership of a portfolio of exploration properties bordering Andean’s Cerro Negro project in Santa Cruz Province. The Corporation had $10 million USD in cash as at September 30, 2010 with no bank debt. Rob McEwen, Chairman and CEO, owns 33% of the company.

This news release has been submitted by Jim Duff, Chief Operating Officer of the Corporation. For further information, please contact Jim Duff or visit our Website: www.minandes.com.

James K. Duff
Chief Operating Officer
99 George St. 3rd Floor
Toronto, Ontario, Canada, M5A 2N4
Toll-Free: 1-866-441-0690
Tel: 647-258-0395
Fax: 647-258-0408
E-mail: info@minandes.com

Scientific and Technical Information:

The information presented in this press release has been reviewed and approved by the Qualified Persons responsible for the Technical Report that presents the results of the Updated Preliminary Assessment. They are: Kathleen Altman, Ph.D., PE,, Robert Sim, P.Geo,. Bruce Davis, PhD, FAusIMM, Richard Jemielita, Ph.D., MIMMM, William Rose, PE, and Scott Elfen, PE. All are independent Qualified Persons as defined by National Instrument 43-101 “Standards of Disclosure for Mineral Projects” (“NI 43-101″). Robert Sim, Bruce Davis, and William Rose are responsible for the mineral resource estimate. Bruce Davis is responsible for the quality control for the assaying of the Los Azules drill core. All samples were collected in accordance with industry standards. Splits from the drill core samples were submitted to the ACME sample preparation laboratory in Mendoza, Argentina and then transferred to ACME’s laboratory in Santiago, Chile for fire assay and ICP analysis. Accuracy of results is tested through the systematic inclusion of standards, blanks and check assays. William Rose is responsible for developing the mine production schedule and participating in the resource estimate. Scott Elfen of Ausenco Vector is responsible for information about Environmental Liabilities, Environmental Permitting and for the Geotechnical designs used for the Study. Richard Jemielita is responsible for information about the Geological Setting, Deposit Types, Mineralization, Exploration, and Drilling. Kathleen Altman, Samuel Engineering, Inc., is the principal author of the Report with specific responsibility for Mineral Processing and Metallurgical Testing, the capital and operating cost estimates and the economic evaluation.

Mineral resources are generated using ordinary kriging with a nominal block size of 20x20x15m. Block grade estimates are derived from drill hole sample results and the interpretation of a geologic model which relates to the spatial distribution of copper, gold, silver and molybdenum in the deposit. There are a total of 114 drill holes in the Los Azules database with a cumulative length of 30,997 meters and a total of 15,260 samples analyzed for a suite of elements including total copper, gold, silver and molybdenum. A total of 58 of the drill holes have some portion of the sample intervals tested for sequential copper analysis. This information contributed to the development of the mineral zone domains. The portion of the new mineral resource that has been defined as “indicated” is based on a drilling configuration that exhibits the degree of continuity required for higher level mineral resources. Inferred mineral resources are limited to blocks within a maximum distance of 200 meters from a drill hole. As required by NI 43-101, the possible future economic viability of the mineral resource has been exhibited by restriction within a pit shell derived about the copper content in indicated and inferred class blocks at a copper price of $2.50/lb, total operating costs of $5.25/tonne and an average pit slope of 34 degrees. Mineral resources are presented at a cut-off grade of 0.35%Cu, which is the same base cut-off grade used in the 2008 mineral resource estimate. These are mineral resources, not mineral reserves.

For further information in respect of the Los Azules project please refer to the technical report entitled “Canadian National Instrument 43-101 Technical Report Updated Preliminary Assessment, Los Azules Project, San Juan Province, Argentina” dated December 1, 2010, the “Los Azules Report.” This report will be made available on SEDAR (www.sedar.com) concurrent with the filing of this news release. Inferred mineral resources are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the project as described in the Los Azules Report will be realized.

Cautionary Note to U.S. Investors:

All resource estimates reported by the Corporation were calculated in accordance with NI 43-101 and the Canadian Institute of Mining and Metallurgy Classification system. These standards differ significantly from the requirements of the U.S. Securities and Exchange Commission. Mineral resources which are not mineral reserves do not have demonstrated economic viability.

Caution Concerning Forward-Looking Statements:

This press release contains certain forward-looking statements and information. The forward-looking statements and information express, as at the date of this press release, the Corporation’s plans, estimates, forecasts, projections, expectations or beliefs as to future events and results and management’s understanding of proposed legislative changes. Forward-looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements. Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements include, but are not limited to, factors associated with fluctuations in the market price of precious metals, mining industry risks, risks associated with foreign operations, risks related to litigation, property title, the state of the capital markets, environmental risks and hazards, uncertainty as to calculation of mineral resources and reserves and other risks.

Readers should not place undue reliance on forward-looking statements or information. The Corporation undertakes no obligation to reissue or update forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. See the Corporation’s annual information form for additional information on risks, uncertainties and other factors relating to the forward-looking statements and information. All forward-looking statements and information made in this news release are qualified by this cautionary statement.

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

Source: Company website

Seabridge Gold Sells Residual Noche Buena Project Interest for US$10.12 Million

Despite good news and solid high gold prices, Seabridge shares remain about level for months now. When you have a look at the companies fundamentals, the current share price is ridiculously low. Seabridge is a good buy below $29.00 ; our longer term target (e.g. 2-3 years) for Seabridge is $80.00

Seabridge Gold News Release:

Toronto, Canada… Seabridge Gold announced today that it has completed the sale of its remaining interest in the Noche Buena project to Minera Penmont, S. de R.L. de C.V. (“Penmont”) for US$10.12 million in cash (see News Release dated October 28, 2010). Penmont is a joint venture between Fresnillo plc. and Newmont USA Limited, a wholly owned subsidiary of Newmont Mining Corporation. Dahlman Rose & Co., LLC acted as advisors to Seabridge for this transaction.

Seabridge holds a 100% interest in several North American gold projects. The Company’s principal assets are the KSM property located near Stewart, British Columbia, Canada and the Courageous Lake gold project located in Canada’s Northwest Territories. For a breakdown of Seabridge’s mineral resources by project and resource category please visit the Company’s website at http://www.seabridgegold.net/resources.php.


ON BEHALF OF THE BOARD

“Rudi Fronk”
President & C.E.O.


For further information please contact:
Rudi P. Fronk, President and C.E.O.
Tel: (416) 367-9292 • Fax: (416) 367-2711
Email: info@seabridgegold.net

Stock Pick: Brigus Gold (AMEX:BRD)

Today gold and silver finally entered a proper correction. We think prices will level now, and start climbing a bit day-by-day till the end of the year. This correction has given us the change to buy into two beautiful companies. Yesterday we announced our first pick Excellon Resources. Today we bought shares of Brigus Gold @ $1.88

Text from company website:

Brigus Gold is a growing gold producer committed to maximizing shareholder value through a strategy of efficient production, targeted exploration and select acquisitions. The company operates the wholly-owned Black Fox Mine in the Timmins gold district of Ontario, Canada. In 2010, the Black Fox Mine is expected to produce approximately 80,000-85,000 ounces of gold at a lower-than-average cash costs per ounce in the range of $500-$550 per ounce. Brigus expects gold production to grow to 180,000 ounces in the near future. Brigus Gold is also advancing the Goldfields Project located near Uranium City, Saskatchewan, Canada. Combined, Black Fox and the Goldfields Project contain over 2 million ounces of gold reserves. Brigus Gold also has a vigorous project pipeline including the Ixhuatan Project and the Huizopa Joint Venture in Mexico, and joint venture exploration projects in the Dominican Republic. Brigus Gold has a solid balance sheet with growing cash flow from operations.

Click here to download a company presentation of December 9, 2010