Issue link: http://resourceworld.uberflip.com/i/554714
14 www.resourceworld.com a u g u s t / s e p t e m b e r 2 0 1 5 NEwS b r i e f s Lichen: Copper Gold Silver, Alaska Sample 07098 was cut across a 2.5 meter portion of the zone contained 2.51% Copper, 2.37 g/t gold and 51.7 g/t silver. Waverley/Tangier: Gold Silver Lead Zinc, BC, Canada Highlights of drill program are 0.78 meters of 22 g/t gold and 1390 g/t silver and 8 meters of 3.6 g/t gold and 190 g/t silver Tolstoi: Copper Gold Silver, Alaska Selected assay information show values of up to 1,108 g/t silver, 52.4 g/t gold, 21.00 percent copper, 2,000 ppm bismuth, and 5.0 percent tungsten—mainly from shear zones, veins and vein disseminate zones in the intrusive suite. Jordan River: Lead Zinc Silver Deposit, BC, Canada Potential mineralization to 20,000,000 tons @ 7.5% lead, 7.5% zinc and 100 g/t silver. This historical resource is not 43-101 compliant. Seeking Joint Venture Partners Ph: 250-832-0336 Cell: 250-517-7473 bill@silverphoenixresources.com www.silverphoenixresources.com ilver Phoenix Resources Inc. CSE: SP Oban Mining Organizes five-cOMpany Merger Oban Mining Corp. [OBM-TSX] has received notice of termination from temex Resources Corp. [TME-TSXV] of the arrangement agreement dated June 29, 2015, made between Oban and Temex. Oban has not exercised its right to match the Lake shore Gold Corp. [LSG-TSX, NYSE MKT] proposal and has received notice of termination from Temex, together with a payment of the termination fee of $691,856. "While Oban was excited about the possibility of combining with Temex and is disappointed to learn the decision taken by Temex, we committed to remain dis- ciplined with respect to this process, and our decision not to match the Lake Shore [Temex acquisition] proposal is consis- tent with that commitment," said Jose Vizquerra, Oban's President and CEO. Oban continues to pursue completion of the proposed business combination involving Oban, eagle hill exploration Corp. [EAG-TSXV; EHECF-OTCQX; EH0- FSE], Ryan Gold Corp. [RYG-TSXV], Corona Gold Corp. [CRG-TSX], pursuant to an arrangement agreement of June 29, 2015, and the up-to-$20 million private placement to Osisko Gold Royalties Ltd. [OR-TSX]. The arrangement, together with the Osisko private placement, will result in a company – New Oban – with about $65 million in cash and cash equivalents, together with advanced gold development assets and development projects in Ontario and Quebec. Completion of the arrange- ment is subject to, among other things, receiving shareholder, court and stock exchange approvals. Bonterra Resources inc. [ BTR-TSXV; 9BR-FSE] has completed a private place- ment for Oban Mining to acquire 19.9% of the shares of BonTerra at a price of $0.22 per flow-through share, raising $2,536,004. See related BonTerra item on page 27. KWg acquires ring Of fire claiMs frOM MacDOnalD Mines KwG Resources inc. [KWG-CSE; KW6- FSE] has agreed to acquire the five-claim Hornby property from MacDonald Mines exploration Ltd. [BMK-TSXV] for 4 mil- lion treasury shares of KWG. The vendor will retain a 2% NSR, half of which may be purchased by KWG for $1 million at any time prior to production from the property. KWG will also have the first right to buy the balance of the NSR at any time the holder proposes to sell it. The Hornby property claims constitute an extensive holding adjoining the southerly boundary of the Big Daddy Joint Venture property immediately to the north and would effectively double the surface area available for possible future mining opera- tions at the Big Daddy deposit and the adjoining Black Thor deposit. The prop- erty is also adjacent to the Koper Lake property to the west that contains the Black Horse chromite deposit. The west-