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MINING Xmet plans gold exploration program Xmet Inc. [XME-TSXV; XMTTF-OTCQX] has six mineral projects with its flagship project being the Duquesne-Ottoman property located 30 km north of the mining town of Rouyn-Noranda and 10 km east of the village of Duparquet, in the Abitibi region of northern Québec. The company is assembling, subject of regulatory approval, three contiguous properties that host indicated and inferred resources: the Duquesne-Ottoman, the Duquesne Mine and the Pitt gold property; see table. The Duquesne-Ottoman property has been explored since 1927. A total of 239 diamond drill holes totaling 65,063 metres have been documented on the Duquesne West block and an additional eight holes totaling 3,106 metres were reported on the Ottoman block. The figures are NI 43-101 compliant. The acquisition of the Duquesne Mine from Clifton Star Resources Inc. [CFO-TSXV] and the Pitt gold property from Brionor Resources Inc. [BNR-TSXV] is scheduled to close on April 30, 2013. DUQUESNE DISTRICT PROPERTY CONSOLIDATION Indicated Ounces TonnesGrade Ounces Duquesne-Ottoman Inferred Ounces Tonnes GradeOunces 4,171,0006.36 853,000 Duquesne Mine 1,860,0003.33 199,000 1,560,0005.58 280,000 Pitt Gold Project 600,0007.83 156,000 476,0006.91 100,000 355,000 1,233,000 Xmet is planning a diamond drilling program to test known targets, pending financing. The target area is along strike between the Duquesne-Ottoman property and the Pitt property. Management is of the view that gold zones on these two properties may, in fact, be one large zone and gold resources could be expanded with in-fill drilling. The Duquesne Mine has historic production of 193,095 tonnes averaging 10.81 grams gold/tonne (1946-1952) and (1988-1992) totaling 2,086,946 grams gold. n Orefinders intersects high-grade gold at Kirkland Lake Orefinders Resources Inc. [ORX-TSXV] reported results from a further five holes (1,950.6 metres) from its Phase I and continuing Phase II diamond drilling programs at the 100%-optioned Mirado gold project located 35 km of the gold mining town of Kirkland Lake, northeast Ontario. All five holes reported intersected significant highgrade and broad lower-grade gold zones. Highlights of gold zones intersected near surface and at depth include: • 9.50 metres at 59.2 grams gold/tonne in hole MD13-07, including 1.00 metre at 559 grams/tonne (uncapped gold grades); • 8.75 metres at 7.50 grams gold/tonne in hole MD13-05, including 1.50 metres at 42.7 grams/tonne (uncapped gold grade); • 4.50 metres at 6.50 grams gold/tonne in hole MD13-10; • 6.00 metres at 6.32 grams gold/tonne in hole MD13-10. Lower-grade gold zones intersected include: • 22.40 metres at 1.41 grams gold/tonne in M AY 2 0 1 3 hole MD13-05; • 17.50 metres at 2.41 grams gold/tonne in hole MD13-08; • 11.40 metres at 2.58 grams gold/tonne in hole MD13-10; • 31.40 metres at 2.39 grams gold/tonne in hole MD13-10, including 19.50 m at 3.65 grams/tonne. To date, assays from 3,356 metres of drilling have now been reported, with an additional 3,944 metres of drill core in the process of being assayed. Bill Yeomans, PGeo, President of Orefinders, stated, "The first phase of drilling clearly demonstrates the bulktonnage potential for gold mineralization on the property. We are also beginning to recognize an extremely high-grade gold component at the Mirado deposit. Bonanza grades have been identified in drill core and at surface along structures that Orefinders now considers to be the highgrade feeder zones associated with broad near-surface gold mineralization." Orefinders has also optioned the MZ Bill Yeomans, President and CEO, and Kevin Pipegrass, examine old workings at the Mirado Project near Kirkland Lake, Ontario. Photo courtesy Orefinders Resources Inc. property comprising an additional 10 contiguous staked mining claims surrounding the Mirado property. In a separate development, Orefinders is diamond drilling on the Derlak gold project located 5 km southwest of the town of Red Lake, northwest Ontario. A 1,200-metre drill program will test selected geophysical targets identified by a geophysical survey completed in December 2012. n www.resourceworld.com 45