NovaGold Sells Ambler Project and Early Stage Base Metal Properties to Mantra Mining For $20 Million in Shares

NovaGold Resources Inc. , today announced that it has reached a binding agreement to sell its interest in the Ambler Option Agreement, representing up to a 51% interest in the Ambler copper-zinc polymetallic project, along with its early stage base metal properties in Alaska for $20 million in common shares of Mantra Mining Inc. (CDNX:MAN.V - News). Under the agreement Mantra will issue 6.25 million common shares having a current market value of $10 million to NovaGold on closing of the transaction, with an additional 6.25 million common shares to be issued to NovaGold on or before 15 months from the date of closing. Mantra has also agreed to reimburse NovaGold for up to $2 million for all direct expenditures incurred by NovaGold on the Ambler Project from June 1, 2008 up to the date the transaction is closed. Under the Ambler Option Agreement, NovaGold would have been required to make an additional investment of US$7 million to earn its interest in the project. read more

Source: NovaGold Resources Inc.

Canadian Mining Inherits Significant Infrastructure from Past Producer Penoles

Mr. Ray Paquette CEO is pleased to report the Company has acquired the October 1981 Geological Report written for Penoles on the El Gochico mine now optioned by Canadian Mining. This report has provided the Company with a wealth of historical data and has provided direction for the Company's exploration program. Penoles is the second largest Mexican mining company, the first Mexican producer of gold, zinc and lead and the world leader in silver production. read more

Source: Canadian Mining Company Inc.

Amazon Reports Q2 Results and Company Update

Amazon Mining Holding Plc (TSX-Venture: AMZ) announced today its unaudited interim consolidated financial statements for the three and six-month period ended June 30, 2008. Reports indicated for the three-month period ended June 30, 2008 the net loss increased substantially to (pnds stlg)2,205,719 from a loss of (pnds stlg)43,941 compared to the three-month period ended July 31, 2007. For the six-month period ended June 30, 2008 the net loss increased to (pnds stlg)2,666,426 from a loss of (pnds stlg)130,210 compared to the six-month period ended July 31, 2007. The loss widened during Q1-2008 due to the commencement of active exploration activities late in December 2007. read more

Source: Amazon Mining Holding Plc

Andean American Mining Reports First Quarter Financial Results

Andean American Mining Corp. The Board of Directors of Andean American Mining Corp. reports on its Consolidated Interim Financial Statements and Management Discussion and Analysis for the quarter ended June 30, 2008. During the Quarter, the Company strengthened the focus of its resources on the development of the Invicta Project and the progressive exploration at the Sinchao property. At the Santa Rosa mine, there continues to be a lack of support for mining from the Virundo community and so production will continue to diminish. Management has reviewed the carrying value of the Santa Rosa mine and determined that it should be written down to a nil value. read more

Source: Andean American Mining Corp.