Resource World Magazine

Nevada remains a place of immense opportunity and potential; and it is still capable of delivering drill results that cause one to do a double-take. Allied Nevada Gold Corp. [ANVTSX] has several interests in Nevada, most notably its gold-silver Hycroft Mine near Winnemucca. On April 30, the company announced that its plan to complete and operate a 130,000 ton per day (tpd) mill by early 2015 is under review. The company's preferred option is to now implement phased expansion, starting at 75,000 tpd in 2015 and pushing up to 130,000 tpd if the initial increase proves successful. Capital expenditure (capex) for all expansion projects at Hycroft has been estimated at almost $395 million. For Q1 2013, the mine produced 30,019 ounces gold and 188,000 ounces silver compared with 32,473 ounces gold and 166,156 ounces silver in Q1 2012. On May 17, the company announced the closing of a bought deal equity financing for aggregate gross proceeds of $150.5 million. American Vanadium Corp. [AVC-TSXV; AVCVF-OTCQX] is developing the Gibellini Project in Eureka County, with the company aiming to produce vanadium electrolyte for the energy storage industry, as well as vanadium products for the steel and alloying industries. The project's measured and indicated resources contain just below 131.37 million lbs (59,590 tonnes) V2O5 (vanadium pentoxide). On May 22, the company announced it had reached an agreement with Germany-based Gildemeister to market and sell its CellCube vanadium redox flow batteries in North America. Americas Bullion Royalty Corp. [AMB-TSX] generates revenue through royalty interests in properties across North America. On May 22, the company announced that Wolfpack Gold [WFPTSXV] had started trading the previous day; Americas Bullion had vended a portfolio of Nevada projects into Wolfpack, creating and retaining a royalty interest on each project. In addition, American Bullion holds two separate royalties that encompass more than 34 square miles at JULY 2013 Barrick Gold's Bald Mountain Project. Barrick Gold Corp. [ABX-TSX, NYSE] recorded over 2.74 million ounces produced at its wholly-owned Nevada operations for 2012. It also secured 48,000 ounces gold from its share in the Marigold Mine (33% stake); 185,000 ounces gold from Round Mountain (50% stake); and 144,000 ounces gold from Turquoise Ridge (75%). One of the company's key development projects in Nevada is Goldrush, which has a current measured and indicated resource of 8.4 million ounces gold contained. Recent exploration results include work at the Spring Valley gold project, Pershing County, into which subsidiary Barrick Gold Exploration Inc. is expected to earn 70%. On May 30, strategic partner Midway Gold Corp. unveiled development hole results drilled by Barrick, with highlights including the noteworthy hole SV13-621 (see introduction). Canamex Resources Corp. [CSQ-TSXV] is advancing the Nevada Bruner gold project in central Nevada. On April 23, the company announced results for the first and second drill holes of its 2013 campaign at the Penelas East target area. Hole B-1301 intersected 3.1 g/t gold from 290-590 feet (88.4-179.8 metres), while hole B-1302 returned 1.563 g/t gold from 640-695 feet. Canyon Copper Corp. [CNC-TSXV] holds the New York Canyon copper-molybdenum project in Mineral Country. At a cut-off grade of 0.2% copper, the project has 16.25 million tons indicated, grading 0.43% copper, and has 2.9 million tons inferred, grading 0.31% copper. Comstock Mining Inc. [LODE-NYSE MKT] operates the Lucerne gold mine in Storey and Lyon counties. The site came on stream in late 2012; in Q1 2013, the company shipped 2,261 ounces gold and 15,599 ounces silver, resulting in revenue of around $3.7 million. Net loss for Q1 2013 stood at $5.8 million, compared with $7.3 million for Q1 2012. On February 7, it announced a new resource update for the property; measured and indicated resources contain 1.824 million ounces gold and 17.1 million ounces silver. The company is now reducing exploration expenses and will prioritize gold and silver production. On May 17, and ahead of schedule, Comstock paid down the balance of its $5 million secured revolving facility with Resource Income Fund. Corrado, De Gasperis, President and CEO, commented, "Our team has worked diligently over the past six months to stabilize our mining and processing operations, increase throughput and reduce operating costs.  We remain on track to achieve our first full year production goal of 20,000 gold equivalent ounces, and to meet or exceed our cost objectives, positioning us well for further production growth." Corvus Gold Inc. [KOR-TSX] is advancing the North Bullfrog gold project, near Beatty, for which it unveiled a positive preliminary economic assessment (PEA) in December 2012. At a cut-off grade of 0.2 g/t gold, the project has an indicated 15 million tonnes, grading 0.37 g/t gold for 182,577 ounces gold contained; it has an inferred resource of 156 million tonnes at 0.28 g/t gold for just over 1.41 million ounces gold contained. On May 7, the company announced the start of its firstphase, 20,000-metre drill campaign at the project's North Area Zone. Entrée Gold Inc. [ETG-TSX; EGINYSE MKT] is advancing the Ann Mason copper-molybdenum project in Nevada's Yerington district. A positive PEA was completed in October 2012 and an exploration program was recently initiated, focusing on high-priority targets. The company has also started environmental baseline studies, including wildlife, biology, archaeology and hydrology, in areas where the PEA envisions the placement of mine facilities and infrastructure. www.resourceworld.com 15

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