Exploration junior up 100% on first drill hole

Stockhouse Canadian Small and Micro-cap Stock Report for Tuesday, April 30, 2013 VANCOUVER (SHfn) –

Lago Dourado Minerals Ltd. (TSX: V.LDM, Stock Forum) soared 100% to10 cents on Tuesday after the mineral exploration company said it has completed the first diamond drill hole at the Arrastro Hills South East porphyry target at its Juruena project located in Mato Grosso, Brazil. Hole JRND068 was drilled vertically to a depth of 480 metres to test a strong muscovite alteration signature that corresponded with a major crosscutting fault structure and a deep seated IP anomaly. Drill core for the hole is being split and logged on site and will be shipped for fire assaying later this week.

Madalena Ventures Inc. (TSX: V.MVN, Stock Forum) climbed 34% to 33.5 cents as investors assessed the news that the upstream oil and gas company had provided results of an independent evaluation on the company's unconventional shale resources on its three land blocks within the Neuquen basin, Argentina. The independent evaluation showed unconventional shale resources with an estimated 34.8 billion barrels of oil equivalent of petroleum initially in place.

Colorado Resources Ltd. (TSX: V.CXO, Stock Forum) was up 17% to 76 cents after the he mineral exploration company said it has secured and mobilized a drill rig to its North Rok property, located 190 kilometres north of Stewart, British Columbia, where the step out drilling of drill hole NR13-001 will commence shortly. This is in reaction to a press release on April 26, where Colorado Resources announced that upon re-examination of the geophysical and magnetic data, it appeared drill hole NR13-002, which was targeted to test a second 500 by 700 metre magnetic feature, may have been stopped short of adequately testing the IP chargeability anomaly.

Archer Petroleum Corp. (TSX: V.ARK, Stock Forum) fell 6.7% to 48 cents after the energy company said it had entered into a non-binding letter of intent with Imperial Petroleum Inc. (IPMN, Stock Forum) and its subsidiaries, Arrakis Oil Recovery, LLC and Phoenix Metals, Inc. for the proposed acquisition by Archer of a 25% interest in the Peak project and of certain exclusive international production and sales rights for Sandklene 950, a product used in the production of bitumen from tar sands. The Peak project, located in Logan county, Kentucky, totaling approximately 270 acres, is comprised of certain lands included in mining permit application Number 071-9702.

Athabasca Minerals Inc. (TSX: V.ABM, Stock Forum) lost 9% to 99 cents after the resource company announced the filing of its first quarter financial results for the three months ended Feb. 28, 2013. Challenges encountered during the quarter resulted in the company incurring a net loss of $374,582 during the first quarter of 2013. The loss was a result of reduced aggregate management fees, increased aggregate operating expenses, and increased non-cash expenses, including share-based compensation, depreciation, amortization and depletion. Also included is a $284,274 valuation write down of Athabasca's land use agreement held with a work camp provider.