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Sector:	General Mining
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From Canada, TSX/TSX-V News: Treasury Metals, Tarsis Resources, Wild Stream and Redhill Resources

Thursday, January 26, 2012 by Proactive Investors

From Canada, Galore Resources (CVE:GRI) shares rallied Wednesday on strong gold drill results from its Dos Santos project in Zacatecas, Mexico, indicating the potential for a large gold deposit.

In addition to results announced last month, the best intervals from the latest reported holes include 1.04 grams per tonne (g/t) of gold over 6.1 metres from 2.15-8.25 metres near surface in hole A1; 2.22 g/t gold over 17.5 metres from 0-17.5 metres starting at surface in hole A10; and 1.23 g/t gold over 3.05 metres, from 2.3-5.3 metres near surface in hole A11b.

Tarsis Resources (CVE:TCC) announced after the bell Tuesday that it has agreed to a $1 million private placement financing, as well as to the transfer of an option agreement on the Prospector Mountain property in Yukon.

Wild Stream Exploration (CVE:WSX) said Wednesday it will be bought by Crescent Point Energy in an all-share deal valued at $770 million, and will also form a new light oil-focused junior exploration company as part of the transaction.

Under the terms of the acquisition agreement, each common share of Wild Stream will be exchanged for 0.17 of a common share of Crescent Point, as well as one common share and 0.2 of a common share purchase warrant of the new company.

Redhill Resources Corp. (CVE:RHR) said Wednesday it has struck a deal allowing it to acquire a 100 percent interest in a prospecting license next to the Nyakagwe property in Tanzania, East Africa.

The deal signed today is with Thamani Mines, and requires Redhill to make a total of C$250,000 in cash payments, issue 1.00 million shares, and invest C$300,000 in exploration in stages over a three year period.

American Vanadium Corp. (CVE:AVC) has appointed Ron MacDonald as executive chairman to the board, the company said Wednesday.

Cadillac Ventures (CVE:CDC) unveiled Wednesday further drill results from the K1-1 open pit project at its Thierry Mine property in northwestern Ontario. Notable assays include 825 feet at 0.4 percent copper and 2.15 grams per tonne (g/t) silver in hole KH-11-28.

Mountain Lake Resources (CVE:MOA) said Wednesday that drilling has now resumed at its Glover Island gold property in western Newfoundland, with a total of 2,500 metres planned this quarter in the Lunch Pond South East target area.

Southern Arc Minerals (CVE:SA) said Wednesday it intends to hold an investor session in Toronto this March to give updates on exploration activities and its long-term business plan.

Zone Resources (CVE:ZNR) said Wednesday it intersected 32.54 percent iron over 167.1 metres on its Moore-Ross Mountain property, located in the Labrador Trough, sending its stock price up over 15 percent.

Tourmaline Oil (TSE:TOU) Wednesday cut its 2012 capital spending by 18 percent due to weak natural gas prices, but raised its production forecast for the year citing strong drilling results.

The company now expects 2012 production to average 50,000 barrels of oil equivalent per day (boe/d), up from its earlier forecast of 47,000 boe/d.

Treasury Metals (TSE:TML) said Wednesday it has initiated a 20,000 metre core drilling program at its Goliath gold project in Ontario, as the company seeks to test high-priority targets found outside the current resource area.

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