Exploration junior up 65% on drill results

Stockhouse Canadian Small and Micro-cap Stock Report for Thursday, May 9, 2013 VANCOUVER (SHfn) –

GTA Resources and Mining Inc. (TSX: V.GTA, Stock Forum) soared 65% to 19 cents on Thursday after the mineral exploration company reported the results for the initial five holes completed in its phase four drill program on the Northshore property, located 80 kilometres west of Hemlo in northwest Ontario. The current program commenced in mid-March and is scheduled to include a minimum of 2,500 meters of drilling focused on testing a number of extensions to the Afric gold zone. Highlights from the initial results include intersections over 13.0 metres grading 2.5 grams per tonne gold within a wider zone of43.5 metres of 1.4 grams per tonne gold in hole WB-13-37.

True Gold Mining Inc. (TSX: V.TGM, Stock Forum) climbed 27.8% to 34.5 cents after the gold exploration, development and production company announce that the company has closed the $9.9 million non-brokered private placement with Teck Resources Ltd. (TSX: T.TCK.B, Stock Forum) announced on May 8, 2013. True Gold issued 30,.3 million common shares at a price per share of $0.33 to Teck. Teck now holds 32 million shares, representing approximately 15% of shares outstanding. Proceeds of the placement will be used to accelerate exploration at True Gold's Karma gold project and the Liguidi project in Burkina Faso, West Africa, and for general working capital purposes.

Royal Nickel Corp. (TSX: T.RNX, Stock Forum) was up 11.6% to 38.5 cents after the mineral resource company announced that it has signed a royalty purchase agreement with RK Mine Finance (Red Kite), a finance company that specializes in providing development, acquisition and bridge financing to miners of precious and non-ferrous metals. Under the terms of the agreement, Red Kite will acquire a 1% net smelter return royalty in the Dumont nickel project for a purchase price of $15 million.

Golden Arrow Resources Corp. (TSX: V.GRG, Stock Forum) lost 8% to 23 cents after the exploration junior announced its initial independent NI 43-101 complaint resource estimate for the Chinchillas silver-lead-zinc project in Jujuy, Argentina. The resource estimate includes 7.2 million tonnes grading 119 grams per tonne silver, 0.57% lead and 0.48% zinc in the indicated category, and a further 21 million tonnes grading 78 grams per tonne silver, 0.69% lead and 0.62% zinc in the inferred category.

Amerigo Resources Ltd. (TSX: T.ARG, Stock Forum) lost 10% to 54 cents after the metal mining company reported its first quarter financial results. Revenue was $43.2 million, compared to $50.5 million in the first quarter of 2012. According to Amerigo revenues decreased 15% due to lower copper and molybdenum sales volume and lower average metal prices.