Fortbridge Announcements

Hillgrove Resources releases Kanmantoo copper mine progress for January 2012

Fortbridge — Thu, 02 Feb 2012 23:30:03 +0000

Hillgrove Resources Limited (ASX: HGO) has provided shareholders with the following update for operations at the Kanmantoo Copper Mine during the month of January 2012.

This information is intended to highlight progress at the recently commissioned mine during the first months of operations, and is intended to supplement the Company’s Quarterly Report disclosure program during ramp-up of the mine to full production.

Early payment for 4,360 dry tonnes of copper concentrate, for total revenue of USD7.3 million received, representing 75% of the total copper concentrate value, with a further 113 tonnes of concentrate in the shed at Kanmantoo.

Included in the release are other information about:

Crushing
Milling
Resource

For further information, please contact:

Hillgrove Resources Limited
Level 41 Australia Square Tower
264 George Street, Sydney NSW 2000
www.hillgroveresources.com.au
T: +61 2 8221 0404
F: +61 2 8221 0407

Fortbridge
Luke Dean
T: + 61 2 9003 0477
M: +61 414 535 433
E luke.dean@fortbridge.com

AusAmerican Mining signs financial agreement to develop La Paz Rare Earths Project, Arizona

Fortbridge — Thu, 02 Feb 2012 23:14:41 +0000

Australian‐American Mining Corporation Limited (ASX: AIW) has announced that it has recently signed a term sheet to raise new capital for the Company totaling up to $3,420,000.

The agreement breaks down into the following terms:

A placement of ordinary shares priced at market (5.8 cents);
A placement of unsecured convertible notes; and
A commitment to purchase ordinary shares for a 12 month period

The investment will be provided by The Australian Special Opportunity Fund, LP, an institutional investment fund managed by The Lind Partners LLC; a New York City based, alternative asset management company. The facility will provide a maximum of $3,420,000 of funding to the Company over 12 months.

The funds will enable the Company to continue the development of the La Paz Rare Earth Elements (“REE”) project located in Arizona as well as the other Company assets which include the White Picacho specialty metals (Li, Ta, Ni, Rb & Cs) project in Arizona, it’s various uranium projects and the San Marcos gold project, all located in mining friendly jurisdictions in the USA.

The Company also announces it has temporarily suspended its pursuit of a TSX‐V listing to focus in the immediate term on developing its assets.

For further information, please contact:

Jim Malone
Executive Chairman
+1 520 907 3657
jim.malone@ausamerican.com

Media/investor enquiries:

Fortbridge +61 2 9003 0477
Luke Dean +61 414 535 433
luke.dean@fortbridge.com

Connemara announces joint venture with Hendrick Resources on gold licences in Wicklow/Wexford

Fortbridge — Thu, 02 Feb 2012 09:30:14 +0000

Connemara Mining Plc (AIM:CON) has announced a joint venture with Hendrick Resources Ltd (“Hendrick”), a private Canadian exploration company to explore four licences held by Connemara on the Wicklow/Wexford border. The Mine River licence block consists of a group of four contiguous prospecting licences covering an area of approximately 130km2. An extensive gold database exists on these licences and they are known to be prospective for gold. Previous exploration has discovered significant gold occurrences in rocks and rivers in the area of the Mine River Licence Block.

Hendrick will spend €500,000 to earn a 50% interest in the licences and has the option to spend a further €500,000 to increase its stake to 75% of the joint venture. Hendrick can withdraw from the joint venture at any time with its interest, in this scenario, reverting to Connemara. Exploration field work will commence immediately and it will include airborne and ground geophysics, geochemistry and subsequent drill testing.

John Teeling, Chairman commented: “We are delighted with this joint venture. For over 200 years explorers have sought the source of the Avoca gold which led to the 1796 gold rush. Dale Hendrick founder of Hendrick is a highly experienced successful figure in Canadian exploration. Dale Hendrick has been a director of numerous public companies listed on the Toronto Stock Exchange. His career is marked by successes in resource industry development and corporate finance. He is of the opinion that a commercial gold deposit remains to be found in south-east Ireland. This is a view long held by the founders of Connemara. A fresh experienced eye and the application of new and improved exploration techniques, combined with our extensive database offers exciting prospects.”

About the Block

The Mine River Licence Block in Wicklow/Wexford is a prospective area for both base metal and gold mineralisation. Abundant mineralised float samples with gold results up to 52.18g/t have been found on the licence block, particularly around the Tombreen and Knocknalour area.

A southwest trend of mineralised outcrops at Mine Bridge, Kilrush (gold 1.65g/t, 4.63g/t and 0.915g/t respectively) has been identified from an analysis of extensive historic data from a number of different companies. A southwest trend of deep over burden gold anomalies is also evident from work in Tombreen, along with an accompanying west-northwest trend. This west-northwest trend is also broadly defined by the occurrence of gold mineralised float at Tombreen and Mine Bridge.

About Connemara

Connemara is an Irish based Exploration Company, with principal interests in zinc/lead and gold exploration. The company holds 33 Irish licenses covering an area of approximately 1,250 sq km and has some of the most prospective ground in Ireland. A significant zinc discovery was made in 2007 on the Connemara licences at Stonepark in Limerick. This is a joint venture with Teck the second biggest zinc producer in the world. The discovery is growing each year. Connemara has further licenses close to the Lisheen zinc mine in Thurles and in Oldcastle with similar geology to Tara Mines 20 kms away. Gold potential exists on licences in Wicklow/Wexford. Connemara is listed on AIM (Ticker:CON).

This announcement has been reviewed and approved by the Company’s technical director Graham Reid (P.Geo) in his capacity as the Qualified Person for the purposes of the AIM Guidance Note for Mining, Oil and Gas Companies issued by the London Stock Exchange. Mr Reid is a Member of The Institute of Geologists of Ireland (IGI) and The Society of Exploration Geophysicists (SEG) and has over 30 years experience in mineral and site investigation fields.

For further inquiries, please contact:

Connemara Mining Company Plc
John Teeling, Chairman +353 (0) 1 833 2833
Jim Finn, Financial Director

Westhouse Securities Limited
Tim Feather +44 (0) 20 7601 6100
Richard Baty

College Hill
Nick Elwes +44 (0) 207 457 2020

Optiva Securities Ltd
Jason Robertson +44 (0) 203 137 1906
Jeremy King +44 (0) 203 137 1904

www.connemaramining.com

Potash Minerals successfully completes State Hole # 3

Fortbridge — Thu, 02 Feb 2012 02:01:29 +0000

Potash Minerals Limited (ASX: POK) has advised that the drilling of State Hole #3 has been completed at a total depth (TD) of 6,951 ft (2,119 m) and has cored potash in both Beds 13 and 18. This drilling, along with the results from State Hole #1 & State Hole #2, and historic drilling data gives further confidence in the presence of potash over a wide area of the project.

Highlights:

State Hole #3 successfully completed and logged
Potash Bed 18 Lower 5.0m at 25.3% KCl equivalent (16.0% K2O)
JORC resource from current and historical cores & gamma logs
Efforts to focus on Federal approval and drill on BLM land

State Hole #3 is the third and final hole of the current State Land drilling program. The holes were planned within the constraints of the state block locations to upgrade the Paradox Basin Potash Project’s exploration target into a JORC code compliant resource. Drilling efforts will now be directed to the federal areas covered by the recently executed Memorandum of Understanding (MOU) with the US Bureau of Land Management (BLM). This is the area we believe holds greatest potential for extensive potash mineralization. The successful granting of this permit will provide the company with greater flexibility to drill at locations with better potential for mineralization and is expected to significantly expand this JORC resource by including federal lands as well as state land.

For further information, please contact:

Ben Binninger
Director
Potash Minerals Limited
Tel: +61 8 9482 0515

Media & Investor Enquiries:

Peter- John Lewis
Fortbridge
Tel: +61 2 9003 0477
Mob: +61 416 290 604
Email: peter-john.lewis@fortbridge.com

Buccaneer acquires interest in Cosmopolitan Project

Fortbridge — Thu, 02 Feb 2012 01:44:24 +0000

Buccaneer Energy Limited (ASX: BCC) has executed a Purchase and Sale Agreement for the acquisition of the two main productive leases in the former Cosmopolitan Unit (“Cosmo”) from Pioneer Natural Resources Alaska, Inc. (“Pioneer”). Cosmo is an undeveloped oil and gas field located in 50 feet of water in the Cook Inlet of Alaska and is in close proximity to the shoreline at Anchor Point on the Kenai Peninsula. Cosmo has regional proximity to Buccaneer’s other Alaskan assets and will utilise the capabilities of the Endeavour rig during the northern hemisphere winter.

Highlights:

Acquisition of a 25% Working Interest in the Cosmopolitan project in Alaska
Buccaneer will be Operator of the project
Development project with successful drilling completed
79% increase in Buccaneer’s Alaskan 2P Reserves, by 13.8 MMBOE to 31.1 MMBOE
Provides a winter drilling base in 2012 for Endeavour jack-up rig

For further information, please contact

Mr Dean Gallegos
Director
+61 416 220 007

Peninsula’s resource upgrade drilling returns exceptional results

Fortbridge — Thu, 02 Feb 2012 01:33:16 +0000

Peninsula Energy Limited (ASX: PEN) has announced that it has completed a further 108 exploration drill holes over January for a total of 101,540 feet at the Lance Projects. 61 holes encountered mineralisation, 19 holes encountered significant mineralisation and 12 holes reported multiple intersections of stacked uranium.

Highlights:

Significant Intercepts include: 15.5 ft @ 1,530ppm eU3O8 (GT 2.37) including 4 ft @ 5,160ppm eU3O8, 31 ft @ 485ppm eU3O8 (GT 1.50) including 5.5 ft @ 1,620 ppm eU3O8, 4 ft @ 1,965ppm eU3O8 (GT 0.79) including 2.5 ft @ 2,990 ppm eU3O8, 7.5 ft @ 730ppm eU3O8 (GT 0.55) including 3 ft @ 1,140 ppm eU3O8
Results include outstanding grades and thick intervals of uranium mineralisation
Drilling in the planned Kendrick production unit upgrades inferred resource and confirms mineralisation in both the Fox Hills and Lance Formations

Clough awarded Wheatstone Offshore Hook-Up and Commissioning contract

Fortbridge — Wed, 01 Feb 2012 23:28:16 +0000

Clough Limited (ASX:CLO) has announced the award of an approximate A$350 million contract for the offshore hook-up and commissioning component of the Chevron-operated Wheatstone Project.

Cue Energy’s gas project in Sampang, Indonesia takes off

Fortbridge — Wed, 01 Feb 2012 03:31:32 +0000

Cue Energy Resources Ltd (ASX: CUE) has congratulated Santos for successfully commencing gas operations at the Wortel Field in the Sampang PSC, in which CUE has a 15% stake.

The Sampang PSC is located south of Madura Island, offshore Indonesia. The PSC contains the Oyong Field, Wortel Field and Jeruk discoveries. The permit is operated by Santos (45%), with partners SPC (40%) and CUE.

For further details, please contact:

Andrew Knox
Chief Executive Officer
Cue Energy Resources Ltd
T: +61 3 9670 8668
E:mail@cuenrg.com.au

Media/investor enquiries:

Luke Dean
Fortbridge
T: +612 9003 0477
M: +61 414 535 433
E: luke.dean@fortbridge.com

Blackthorn recieves more significant assay results from Mumbwa project

Fortbridge — Wed, 01 Feb 2012 01:01:20 +0000

Blackthorn Resources Limited (ASX: BTR) has received copper assay results for drill holes S36-027 and S36-028 from its 100% held Mumbwa Project held in Zambia. Blackthorn Resources is targeting Iron Oxide Copper-Gold (IOCG) style mineralisation in the Mumbwa District, which is located approximately 200 km west of the capital Lusaka.

Universal Coal releases December quarter results, highlights coking coal project progress

Fortbridge — Wed, 01 Feb 2012 00:23:06 +0000

Universal Coal Plc (ASZ: UNV) has released the following activities and cashflow reports for the quarter ending in 31 December 2011.

Highlights:

DRA Mining (Pty) Ltd was appointed in early October 2011 to complete a scoping study for the Berenice/Cygnus project. The scoping study is expected to be completed by the end of the Q1 2012.
Analyses of the core samples from the twinned large diameter drill holes taken from Berenice/Cygnus project were received. The analyses demonstrated that the coal can be classed as a high volatile, soft coking coal with good caking properties, high vitrinite content and very high maximum fluidity.
Optimisation of the Kangala project BFS was ongoing with Universal Coal currently finalising a MoU with Eskom for off-take from this project. The additional drilling to upgrade the remaining Kangala resource base outside the planned mining area has been completed with some analyses currently still outstanding.
The feasibility study for the Roodekop project which was commenced during the September 2011 quarter is ongoing.
Geological consultants GEMECS completed the resource modelling from the final phase of drilling at the Brakfontein project, with a mining right application having been lodged during the Quarter.

Universal Coal continues to evaluate a number of business and corporate opportunities including potential asset acquisitions and informal approaches from strategic investors in the steel and power generation sectors.

For further information, please contact:

Fortbridge: +61 2 9003 0477
Bill Kemmery +61 4 0012 2449 (Sydney)
Matt Beale +44 79 6638 9196 (London)