Exploration junior up 27% on drill results

Stockhouse Canadian Small and Micro-cap Stock Report for Tuesday, May 14, 2013 VANCOUVER (SHfn) –

Eagle Hill Exploration Corp. (TSX: V.EAG, Stock Forum) rose 26.7% to 9.5 cents after the precious metals explorer announced high-grade gold results from its winter 2013 drill program at the Windfall Lake gold deposit in Northwestern Quebec. The new results include over 12.4 meters of 288.5 grams per tonne gold and over 5.5 meters grading 22.1 grams per tonne gold both located in the Main Zone.

Labrador Iron Mines Holdings Ltd. (TSX: T.LIM, Stock Forum) climbed 6.9% to 62 cents on Tuesday after the iron ore producer announced an agreement with Iron Ore Co. of Canada, Canada’s largest iron ore producer, to sell the next two year’s worth of production. As part of the deal, Labrador Iron Mines will receive an advance payment of US$35 million to be credited towards future sales of at least 3.5 million tonnes of iron during the 2013 and 2014 calendar years.

Paladin Energy Ltd. (TSX: T.PDN, Stock Forum)was up 3.4% to 92 cents after the uranium production company announced the release of its consolidated financial report for the nine months ended March 31, 2013. The highlight was a 25% increase insales from US$240 million in 2012 to US$301 million in 2013. Paladin also reported anet loss after tax of US$247.7 million, mainly as a result of the US$98.2 million de-recognition of the Kayelekera mine net deferred tax asset, US$140.8 million impairment associated with the write-down of the Kayelekera mine assets, the US$13.7 million inventory impairment at Kayelekera and finance costs relating to interest payable on the outstanding convertible bonds and project finance loans. The Kayelekera mine is located in northern Malawi, 52 kilometres west of Karonga.

Minera IRL Ltd. (TSX: T.IRL, Stock Forum) lost 23.2% to 31.5 cents on after the Latin American gold mining company reported its first quarter financial results. The results included a 17% drop in revenue to $9.2 million, compared to $11.1 million in the first quarter of 2012 and a 13% fall in gold sales down to 5,660 ounces.