Exploration junior up 10% on drill results

Stockhouse Canadian Small and Micro-cap Stock Report for Thursday, May 23, 2013 VANCOUVER (SHfn) –

PNG Gold Corp. (TSX: V.PGK, Stock Forum) jumped 10% to 5.5 cents on Thursday after the exploration company reported gold and silver assay results from 11 diamond drill holes from Imwauna Main Structure, located 80 kilometres northeast of Alotau, Papua New Guinea. The highlight was 2.5 metres grading 52.1 grams per tonne gold and 124.2 grams per tonne silver.

Belo Sun Mining Corp. (TSX: T.BSX, Stock Forum) climbed 5.8% to 55 cents after the mineral exploration company received positive results from preliminary metallurgical leach test work conducted with samples from the South Block deposit of its 100% owned Volta Grande gold project located in Para State, Brazil. A total of six South Block composite samples were tested. Head grades varied from 2.2 grams per tonne gold to 6.5 grams per tonne gold with an average gold recovery of 95%.

West High Yield Resources (W.H.Y.) Resources Ltd. (TSX: V.WHY, Stock Forum)was up 1.7% to 60 cents after junior mining exploration company announced the release of its financial results and the Management Discussion and Analysis for the three months ended March 31, 2013. The unaudited interim condensed financial statements and related MD&A for the three months ended March 31, 2013 have been filed with Canadian securities regulatory authorities on SEDAR.

Ridgeline Energy Services Inc. (TSX: V.RLE, Stock Forum) lost 1.2% to 41.5 cents after the technology driven water treatment company announced a new facility south of Odessa, Texas. The facility will have an initial capacity of 5,000 barrels per day. This will mark Ridgeline's second major oil and gas customer in the Permian Basin. As with other Ridgeline oil and gas service facilities, the installation will be located at a permanent tank battery with substantial storage to allow for the reuse of the treated water. Installation of the new facility will be started immediately and completed in July of this year.

Labrador Iron Mines Holdings Ltd. (TSX: T.LIM, Stock Forum) fell 6.9% to 54 cents after the iron ore producer announced its updated mineral resource at its fiscal year-end March 31, 2013 for the Schefferville and Menihek direct shipping iron ore operations and projects located in Western Labrador and Quebec respectively. At March 31, 2013, LIM's total measured and indicated mineral resource (excluding stockpiles) totalled 59.5 million tonnes grading 56.7% iron, a 33% increase from March 31, 2012.