Gold Mining Companies Recent News And Updates. (CGC, SILA, KGC)
Monday, August 30th, 2010
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Gold American Mining Corp. (OTC.BB:SILA) has received the final ground geophysics report on its Guadalupe property and confirms that the recently concluded geophysics program has identified multiple potentially significant geophysical anomalies.
The geophysical survey was designed to test down to depths of 500 metres. The key results from the geophysics program are:
* Magnetic susceptibility survey was successful in identifying the trace near the surface extensions of the known veins. The presence of additional parallel anomalies suggests the potential for additional veins that do not outcrop.
* Induced Polarization anomalies indicate the potential for down dip extensions to the main veins within the property.
* A potentially significant chargeability anomaly (Induced Polarization) occurs in the southern portion of the property in between the Santa Rosa and San Antonio Mines at depth starting at 400 m, which is below the known depth of these historically important mines.
“The final results and interpretation of the geophysics results on our Guadalupe property have given us very attractive drilling targets. We are in the process of acquiring firm bids from several qualified drilling contractors and initiating the permitting process for the next phase of exploration of this exciting project,” commented Johannes Petersen, President of Gold American. “Gold American is well on track to initiating drilling operations on Guadalupe during the fourth quarter of 2010,” added Mr. Petersen.

Capital Gold Corporation (NYSE AMEX:CGC) reports the appointment of Dr. Gary C. Huber as an independent director of the Company.
Dr. Huber currently serves as President and CEO of Neutron Energy Inc., a privately owned uranium development company. During his 35-year career in the natural resource industry, Dr. Huber was a founder of Canyon Resources Corporation, a precious metal and industrial mineral mining company. During his time there, Canyon Resources grew from a strictly grass roots exploration company into an entity that developed and operated three open-pit heap leach gold mines and two industrial minerals processing facilities. He also worked as an executive consultant with International Royalty Corporation, a public company that acquired and created natural resource royalties. Dr. Huber has a Ph.D. from the Colorado School of Mines.
“We are pleased to welcome Dr. Huber to our Board of Directors,” said Colin Sutherland, Capital Gold’s President. “His experience and vast knowledge of the mining industry make him a valuable addition to our Board.”
Capital Gold Corporation is a gold production and exploration company. Through its Mexican subsidiaries and affiliates, it owns 100% of the “El Chanate” gold mine located near the town of Caborca in Sonora, Mexico. On August 2, 2010, Capital Gold acquired Nayarit Gold Inc. Capital Gold is focused on optimizing the El Chanate operations and advancing the Del Norte deposit in the Orion District in the state of Nayarit, Mexico. Capital Gold also owns and leases mineral concessions near the town of Saric, also located in Sonora, that are undergoing exploration for gold and silver mineralization.

Kinross Gold Corporation (NYSE:KGC) reports that its agreement with B2Gold Corp. to acquire B2Gold’s rights to an interest in the Kupol East and West exploration licence areas, first announced on July 22, 2010, has now closed.
The Kupol East and West exploration licence areas lie adjacent to the Kupol mine site and are approximately 100 kilometres south of the Dvoinoye and Vodorazdelnaya properties, further consolidating Kinross’ position in a prospective region in the Russian Federation.
Kinross is a Canadian-based gold mining company with mines and projects in Canada, the United States, Brazil, Chile, Ecuador and Russia, and employs approximately 5,500 people worldwide.
Kinross‘ strategic focus is to maximize net asset value and cash flow per share through a four-point plan built on: delivering mine and financial performance; attracting and retaining the best people in the industry; achieving operating excellence through the “Kinross Way“; and delivering future value through profitable growth opportunities.
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