Prosperity Goldfields Corp. ("Prosperity") (TSX VENTURE:PPG) andSmash Minerals Corp. ("Smash") (TSX VENTURE:SSH) provide an update on their amalgamation and the core drilling program at Prosperity's Kiyuk Lake gold property, Nunavut.

"The quality of this relationship with China's largest importer of copper concentrates provides further evidence that there is considerable interest in the high grade massive sulphides being found by the emerging seafloor resource production industry," said Nautilus CEO Stephen Rogers.

Banks Island Gold Ltd. (the "Company") (TSX VENTURE:BOZ) is pleased to announce that, further to its news release dated March 29, 2012, it has closed the first tranche of the non-brokered private placement and has issued 1,866,666 Units at a price of $0.60 per Unit for gross proceeds of $1,120,000. VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 20, 2012) -

Minco Gold Corporation (the "Company" or "Minco Gold") (TSX:MMM.TO - News)(AMEX: MGH - News)(Frankfurt: MI5.F -News) is pleased to announce the commencement of the planned exploration program for the Company's 100% owned Longnan Project located in Gansu Province, China.

Paladin Energy Ltd. (TSX:PDN)(ASX:PDN) (Paladin or the Company) advises that no decision has been made to undertake a convertible bond issue as speculated in the Australian Financial Review article published today.

The proceeds from the Private Placement will be used to fund pre-development expenditures at the Renard Diamond Project for the 2012 calendar year and for general corporate purposes.

Newstrike Capital Inc. (TSX VENTURE:NES) ("Newstrike" or the "Company") is pleased to announce the next series of results completed in the 2012 drill program in progress at the Company's 100%-owned Ana Paula Project, Guerrero Gold Belt (GGB).

The Proceeds Advanced Under the Facility Will Permit the Company to Prepay All of Its Existing Subordinated Notes

In conjunction with the higher metal production, the Company estimates a quarterly gold and silver sales record of US $23.5 million (US $14.7 million in Q1-2011) which is a period over period increase of 60%.

This important milestone in the project's development will allow us to progress with the feasibility study, which remains on track for completion in H1 2012."

Timberline Resources Corporation (TSX VENTURE:TBR)(NYSE Amex:TLR) ("Timberline" or the "Company") today announced a substantial increase to its National Instrument 43-101 compliant gold resource estimate at its Lookout Mountain Gold Project within the Company's South Eureka Property, which lies along the Battle Mountain - Eureka Trend of central Nevada.

Quaterra Resources Inc. (TSX VENTURE:QTA)(NYSE Amex:QMM) today announced that the NYSE Amex and TSX Venture exchanges have approved the purchase of 4,000,000 common shares of the Company at a price of C$0.62 per share by Goldcorp Inc., raising a total of C$2.48 million.