NEW YORK, April 17, 2017 /PRNewswire/ --
Gold continued its rally last week as growing geopolitical tensions as well as a weaker dollar continues to be pressured. The
price of the yellow metal hit its highest level in five months during last week's market session. Investors are seeking safe
haven assets such as gold, in order to hedge against political and economic uncertainties. The price was also lifted by a weaker
dollar as it makes holders of other currencies cheaper to buy dollar-denominated commodities. The bullion, which slumped after
the presidential election in November, has gained more than 10 percent year to date. Dakota Territory Resource Corp. (OTC: DTRC),
International Tower Hill Mines Ltd. (NYSE: THM), Golden Star Resources Ltd. (NYSE: GSS), Primero Mining Corp. (NYSE: PPP),
Timmins Gold Corp. (NYSE: TGD)
Gold is highly sensitive to the changes in the U.S. interest rates as the metal increases the opportunity cost of holding
non-yielding bullion. In addition, growing military tensions between the United States and other
nations have brought attention back to the demand of gold. Chad Morganlander, Portfolio Manager at
Washington Crossing Advisors, said last Wednesday on 'Power Lunch', reported by CNBC, "We think risk is going to elevate,
financial conditions will tighten; one is geopolitical risk, not only internationally, but with domestic policy uncertainty on
the tax bill."
Dakota Territory Resource Corp. (OTCQB: DTRC) on April 10th announced that it has entered
into agreements with Trucano Novelty, Inc. to acquire a combination of surface and mineral title to 284 acres located in the
Homestake District of the Northern Black Hills of South Dakota.
Approximately 61 acres of Dakota Territory's property acquisition are located immediately to the south and are contiguous to
the Company's City Creek Property. The City Creek Property is an iron-formation hosted gold target and is located on the
northeastern extension of Homestake formation at a distance approximately one mile from the discovery site of the Homestake Mine.
Homestake Mining Company's widely-spaced drill programs at the City Creek Property in the 1970's and 1980's produced
intersections of gold mineralization in the classic quartz vein, chlorite-arsenopyrite mineralization style of the Homestake
Mine.
The Company's property acquisition is consistent with its business development strategy of expanding its high-quality mining
interests within the Homestake District. In total, the Company now holds approximately 3,341 acres in the heart of the district.
The Company's entire property position is based on historic drill data and Dakota Territory Resource Corp Management's 44 years
of combined mining and exploration experience in the Northern Black Hills with Homestake Mining Company.
International Tower Hill Mines Ltd. (NYSE: THM) controls a 100% interest in the Livengood Gold Project, located along
the paved Elliott Highway, 70 miles north of Fairbanks, Alaska. Earlier in February, the company
announced that it has completed payment of the $14.7 million derivative land payment, approved a
$6.3 million 2017 work program to advance the Livengood Gold Project (all $US), and commenced a
management transition plan with the appointment of Karl Hanneman as Chief Executive Officer. On
January 12, 2017, the Company paid $14.7 million for the timely and
full satisfaction of the final derivative payment due with respect to the acquisition of certain mining claims and related rights
in the vicinity of the Livengood Gold Project in Alaska (the "Project"). On January 17, 2017, the Full Deed of Reconveyance, releasing the Deed of Trust on the acquired property was
recorded and the Company is now in full ownership and has no further liability with respect to this acquisition.
Golden Star Resources Ltd. (NYSE: GSS) on April 3rd announced a project update for
its Prestea Underground Gold Mine, Mampon deposit and Wassa Underground Gold Mine in Ghana. Sam Coetzer,
President and Chief Executive Officer of Golden Star, commented, "Golden
Star continues to reach its key milestones, on time and on budget. Exciting progress is being made at Prestea Underground
and I look forward to blasting the first stoping ore later this quarter. At Mampon, commencing mining within the expected
timeframe is testament to the hard work of our team in Ghana and their strong relationship with
local communities. Finally, operations at Wassa Underground are progressing as planned and it is pleasing that we have now begun
accessing the B Shoot, which is the main target of the Wassa Underground development. Our transformation into a low cost, high
grade, mid-tier producer remains well on track."
Primero Mining Corp. (NYSE: PPP) is a Canadian-based precious metals producer that owns 100% of the San
Dimas gold-silver mine and the Cerro del Gallo gold-silver-copper development project in Mexico and 100% of the
Black Fox mine and adjoining properties in the Township of Black River Matheson near Timmins, Ontario, Canada. Earlier in the 2016 the company announced that is has acquired a large concession area
adjacent to its San Dimas mine in Durango, Mexico. The Company has added 30,192
hectares substantially covering the area between the San Dimas mine and the Ventanas exploration property
located 32 kilometres to the south. The newly acquired concession is not covered by the San Dimas silver purchase
agreement, and brings Primero's total concession area in the district to 68,628 hectares.
Timmins Gold Corp. (NYSE: TGD) a Canadian gold mining company engaged in exploration, development and production in
Mexico. On April 10th the company confirmed that that it has
received authorization of the Environmental Impact Assessment (MIA) for its high-grade, high-margin Ana Paula Project located in
Guerrero, Mexico. The regulator (SEMARNAT) has outlined the environmental protection programs
required during construction of the project which are normal and in-line with expectations. Timmins CEO, Greg McCunn, commented, "This is a major de-risking step in the advancement of our Ana Paula Project.
Receiving the approval of the MIA from SEMARNAT adds to our confidence in executing the project in accordance with our timeline.
We expect to publish our Pre-feasibility Study for the project later this quarter which will substantially improve upon our
confidence in the mineral resource, the metallurgy and the project economics."
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