Eldorado to hike gold production to over 500,000 ounces in 2020

Bloomberg reports Silvercorp Metals was contacted by a Canada police unit called the Integrated Market Enforcement Team on Wednesday offering to help find the person behind an anonymous letter alleging a “potential $1.3 billion accounting fraud” at the company. Silvercorp Metals was forced on Friday to make public the letter, also sent to the Ontario Securities Commission, presumably from a shorter of the company's stock as it was also disclosed at the time that someone had built up a short position of some 23 million shares over the preceding two months. The firm with projects in China and Canada plunged 10% after the news broke, but has since regained much of the lost ground.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 7, 2011) - Columbus Silver Corporation (TSX VENTURE:CSC) ("Columbus Silver") has entered into a memorandum of understanding (the "MOU") under which the publicly-listed U.S. company Santa Fe Gold Corporation (OTCBB:SFEG) ("Santa Fe") has conditionally agreed to acquire all of its outstanding common shares ("Shares") for CDN$0.20 per share in cash (the "Acquisition"). If successful, the Acquisition will be completed as a plan of arrangement under the Business Corporations Act (British Columbia).

TORONTO, ONTARIO--(Marketwire - Sept. 7, 2011) - Advanced Explorations Inc. (the "Company" or "AEI") (TSX VENTURE:AXI)(FRANKFURT:AE6) is pleased to announce that work continues in support of the Roche Bay Feasibility Study ("FS"). In addition to this summer's resource and geotechnical drill programs the Company has initiated a number of metallurgical studies looking to optimize concentrate process and quality while reducing the associated operating and capital cost. To date there have been five independent metallurgical studies undertaken (two in Canada, two in Germany and one in China) which support the previously reported results that a high quality concentrate can be produced. The Company does expect to provide a further update on the C- Zone resource as part of this ongoing work with the intention of expanding the FS resource base.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 7, 2011) - Pacific Ridge Exploration Ltd. (TSX VENTURE:PEX) (the "Company") reports that exploration at the Mariposa Property, located within the Yukon's White Gold District, has seen completion of 34 drill holes for a total of 5350 metres drilled so far this season. Receipt of assay results has seen delays due to high volume and continuous sample submittals, as a result of increased exploration activity in the Yukon. The objective of the 2011 drilling program is planned around completion of approximately 6,000 metres of diamond core drilling to test 5 gold exploration targets located within an approximate 26 square kilometer area of the overall 262 square kilometer Mariposa Property.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 7, 2011) - NovaGold Resources Inc. (TSX:NG)(NYSE Amex:NG) The feasibility study completed on the Donlin Gold Project (formerly Donlin Creek) in 2009 is being updated to include power generation utilizing natural gas delivered to site via aproposed 500-kilometer natural gas pipeline from the Cook Inlet to the mine site. Utilizing natural gas is expected to lower costs to generate power and reduce operating risk. In connection with this update, Donlin Gold LLC, owned equally by wholly owned subsidiaries of NovaGold Resources Inc. ("NovaGold") and Barrick Gold Corporation ("Barrick"), has provided its owners with preliminary capital cost estimates of approximately US$6billion for the Project with an additional approximately US$1 billion for the natural gas pipeline.

The deal-making frenzy in the global mining sector during the first half of the year was followed by a dramatic drop in activity in July and August, according to a new report by consultants PricewaterhouseCoopers. Figures from the report titled Riders on the Storm show that in July and August the value of global mining deals fell by 49% and deal volumes declined by 25%. The sharp reversal came after a record first half when 1,379 deals worth $71bn were announced even though Chinese entities, firmly focused on value, retreated from iconic western takeovers. Buyers were also willing to pay over the odds for large publicly listed targets – for $500 million+ acquisitions, the average premium was 37%. For sub-$500 million deals, premiums averaged a mere 8%.

EthicalOil.org, which stated goal is countering inaccurate and unfair criticisms of the oil sands, this week launched their first television ad as debate about the Keystone pipeline intended to carry Canadian crude to refineries on the US Gulf coast intensifies. The treatment of women in Saudi Arabia is the focus of the new ad running exclusively on the Oprah Winfrey Network in Canada and comes on the heels of demonstrations in front of the White House where celebrities had themselves arrested to persuade President Barack Obama, who has the final say, of oil sands' dangers and influential environmental voice Al Gore calling oil sands the "dirtiest fuel on the planet."

Zimbabwe said on Tuesday it could prosecute or cancel the mining licence of Zimplats, the local unit of Impala Platinum, for failing to agree to transfer majority ownership to local blacks, piling pressure on the firm to strike a deal. However, Indigenisation and Economic Empowerment Minister Saviour Kasukuwere, who is leading the drive to increase Zimbabweans' control of the economy, said Harare had reached an agreement with Rio Tinto's Murowa mine and a deal was "imminent" for Aquarius' Mimosa mine. The deals with Rio and Acquarius put the squeeze on Zimplats' parent, the world's number two platinum producer, which risks losing its concessions to others, especially the Chinese, who are favoured by President Robert Mugabe.

With the spot price for uranium falling below $50 – levels last seen immediately after the nuclear accident at Fukushima – U3O8 producers and explorers dropped across the board on Tuesday. Not even Hathor Exploration, the subject of a hostile takeover by industry bellwether Cameco, managed to get into in positive territory and the sector as a whole has lost more than 40% its value since the 11 March earthquake off the coast of Japan. And the near term outlook for the sector is not rosy either with a new study by Resource Capital Research indicating market price expectations looking out 3 to 6 months points to further downside, with a spot price expectation of $45.95/lb.