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Gold American Mining Corp. (OTC.BB:SILA) is pleased to provide an update on the Guadalupe property.

“We are very satisfied with the work progress on our properties as we continue to evaluate other interesting exploration properties with a view to add them to our portfolio,” said Johannes Petersen, President of Gold American. “The results to date at our Guadalupe property are in line with what we expected to find. The values at surface, the historical information acquired and the recent identification of the geophysics anomalies, all suggest that the vein systems in the property have the potential to continue to much greater depths. We are confident that we will soon be in a position to start drilling operations in the property to test this concept,” added Mr. Petersen.

Gold American Mining Corp. recently furnished an update on the financing activities of the Company.

As announced in May 11, 2010, the Company entered into a $7.5 million equity financing agreement with a European institutional investment group that specializes in backing precious metals and mining ventures. Gold American Mining is pleased to announce that up to date they have received funds in the amount of $300,000 in virtue of this agreement and that Gold American still has a balance of $7.2 million that they could call upon to fund their exploration and acquisition strategy. During 2010, Gold American has received total equity subscription proceeds of $500,000.

The funding will be utilized by Gold American in its ongoing acquisition strategy and specifically in the further exploration and development of its existing Keeno Strike Property in Nevada, which could potentially contain ~1.1 million ounces of gold and ~69.0 million ounces of silver accessible via open-pit bulk handling methods, and its Guadalupe Property in Mexico, which is located approximately 5 miles north of the world’s richest underground silver mine, operated by the +$10 billion London Stock Exchange-traded company, Fresnillo plc.

GOLDCORP INC. (NYSE: GG) agreed recently to support the proposed transaction whereby Thompson Creek Metals Inc. will acquire all of the outstanding common and preferred shares of Terrane Metals Corp.

Goldcorp controls 58% of the outstanding shares of Terrane through its ownership of 240 million preferred shares and 27.3 million common shares. In conjunction with the Thompson Creek acquisition of Terrane, Goldcorp has agreed to vote its securities in support of the Thompson Creek acquisition. Upon completion of the transaction,

Goldcorp will receive proceeds of C$240.5 million in cash and 13.9 million Thompson Creek common shares representing approximately 8% of the outstanding shares.

“Mt. Milligan is a high quality copper-gold project that is ready to move into construction,” said Chuck Jeannes, President and Chief Executive Officer. “The Terrane team has done a great job advancing the project. Thompson Creek provides the financial strength and management to build and operate the mine, bringing benefits to British Columbia and shareholders of both companies. We look forward to being a significant shareholder of Thompson Creek. Goldcorp will deploy the cash proceeds toward the continued development of its industry-leading suite of core gold projects.”

BMO Capital Markets acted for Goldcorp as financial advisor and Osler, Hoskin & Harcourt LLP as legal advisor.

Goldcorp is North America’s fastest growing senior gold producer. Its low-cost gold production is located in safe jurisdictions in the Americas and remains 100% unhedged.

Songzai International Holding Group, Inc. (OTC.BB:SGZH), a leader in coal production and exploration in the People’s Republic of China previously reported that the Company has entered into an Asset Purchase Agreement to acquire the Erdos City Dongsheng District Liujiaqu Coal Mine located in the Inner Mongolia region of the PRC.

The Liujiaqu Coal Mine is a new mine encompassing about 8.87 square kilometers. Total estimated resources of the mine are approximately 143 million metric tons. The Company anticipates that the acquisition will be consummated with the completion of industrial and commercial registration for the change of ownership within 3 months from the date the seller receives the cash portion of the consideration and that production at the Liujiaqu Coal Mine will begin in the third quarter of 2010. The annual production capacity of the mine is expected to be 1.2 million metric tons in 2011 with continuous growth thereafter. The extracted coal is to be sold on a raw product basis as thermal coal for power generation, cement rotary kilns and other industrial and home heating uses.

Songzai International Holding Group, Inc. is engaged in coal production and sales by exploring, assembling, assessing, permitting, developing and mining coal properties in the People’s Republic of China (”PRC”).

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