PAPUA NEW GUINEA - TVI to proceed with Foyson agreement

An amended subscription agreement between TVI Pacific and Foyson Resources will go ahead, pending shareholder approval in April. Both companies have made changes to the original agreement and associated joint venture struck in August 2012.

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PHILIPPINES - MBMI subsidiaries cleared by Appeals Court

The Court of Appeals in Manila has denied a reconsideration attempt by Redmont Consolidated Mines to revoke the registration of eight companies which it claims should be disqualified from engaging in mining activities. Redmont argues the affiliates and subsidiaries are not Philippine nationals and therefore should not be able to carry out mining exploration or operations.

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PHILIPPINES - Medusa resource update at Bananghilig

Medusa Mining has updated the JORC-compliant mineral resource estimate for Bananghilig gold deposit, following completion of infill drilling. The company’s Philippines operating subsidiary Philsaga Mining has announced the new indicated and inferred estimate of 20.9 million tonnes @ 1.6 grams/tonne gold for 1.08 million ounces.  1

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PHILIPPINES - New high grade estimate at Batangas

A new resource estimate at significantly higher grades has been announced at Red Mountain Mining’s Batangas Gold Project. The new indicated and inferred estimate totals 5.78 million tonnes @ 2.2 grams/tonne gold for 408,000 ounces of gold and is based on results from drilling since August last year at the South West Breccia and Lobo prospects as well as a reinterpretation of all previous historical data.  1

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