Is Marlin Gold Mining’s Balance Sheet a Threat to its Future?

Marlin’s Commonwealth Silver and Gold Operations Headquarters in Pearce, Arizona

 Is Marlin Gold Mining Ltd’s (TSXV:MLN) Balance Sheet A Threat To Its Future?

Marlin Gold Mining Ltd (TSXV:MLN) is a small-cap-stock with a market capitalization of USD $88 Million. While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, they end up ignoring a key aspect, which could be the biggest threat to its existence: its financial health. There are always disruptions which destabilize and many a times end an existing industry, and most small-cap companies are the first casualties when such a wave hits.

Apart from geopolitical events such as political unrest and natural calamities, a company which is suddenly facing a hostile market environment must be able to fulfill short-term commitments with its reserves so that it can see another day… Read Full Article

Permits being sought for Pearce mine by Marlin Gold

Marlin Gold Mining LTD

Permits are being sought to proceed with the construction of a gold and silver mine in the Pearce–Sunsites area, a community of about 2,100 residents just east of the Dragoon Mountains.

The Commonwealth Mine Gold and Silver Project was acquired earlier this year by Marlin Gold Mining, LTD, a publicly -traded mining company with projects in Mexico and now Cochise County.

In its description of the local mine, Marlin reports on its website that “permitting is in process,” for the project and a consultant’s report to the company outlines an 11-year project that will cost more than $55 million to complete… Read Full Article

Delta Gold Corporation and Commonwealth Silver and Gold Mining Inc. Going After Our Limited Water Supply in Pearce, Arizona

If you haven’t been too worried about the Commonwealth Mine Project in Pearce, Arizona, now is the time to worry… Delta Gold Corporation and Commonwealth Silver and Gold Mining Inc. (both Canadian mining companies) have signed an arrangement agreement to start taking water for their open-pit cyanide mine from our already limited water supply. To make things even more concerning, the following press release by Delta Gold Corporation and Commonwealth Silver and Gold Mining Inc. states in bold text, “NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA.” If you think the Wall Street criminals that caused our financial crisis in 2008 were bad news, they’ve got nothing on the Canadian mining industry who will do whatever it takes to get what they want including, harassment, rape, and even murder

Make sure you look at the last two paragraphs of this press release, which clearly state, “In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins and flooding (and the risk of inadequate insurance or inability to obtain insurance to cover these risks)“, AND “This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. Such securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person...”

We must come together as a community and get these “big money” environmental criminals out of our community as quickly as possible. We need to keep calling Governor Brewer at (520) 628-6580 and John McCain at (520) 670-6334 and demand that we want these Canadian mining criminals out of our community. 

Below is the press release in full, followed by screenshots…

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PRESS RELEASES 6/6/2014 2:06:22 PM | Marketwired News

Delta Gold Corporation and Commonwealth Silver and Gold Mining Inc. Sign Arrangement Agreement

2014-06-06T18:06:22+00:00


VANCOUVER, BRITISH COLUMBIA and TORONTO, ONTARIO–(Marketwired – June 6, 2014) –

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA. 

Delta Gold Corporation (TSX VENTURE:DLT) (“Delta Gold”) and Commonwealth Silver and Gold Mining Inc. (“Commonwealth Silver”), a privately-held company incorporated under the laws of Canada, are pleased to announce that, further to their joint news release issued on April 24, 2014, they have signed a definitive arrangement agreement (the “Agreement”) with respect to the proposed business combination (the “Transaction”) which would result in a reverse takeover of Delta Gold by Commonwealth Silver, thereby resulting in a going-public transaction for Commonwealth Silver.

Transaction Details

Under the terms of the Agreement, Delta Gold’s outstanding common shares (each, a “Delta Share”) will be consolidated on a 20:1 basis (the “Consolidation”). In connection with the Transaction, Commonwealth Silver expects to complete a concurrent financing of between $3 million and $10 million (the “Financing”), the terms of which are discussed in greater detail below. Shares of Commonwealth Silver (each, a “Commonwealth Share”) will be valued based on the price and terms established for the Financing. As a result, it is expected that Shareholders of Commonwealth Silver will receive 0.6 Delta Shares (post-Consolidation) for every one Commonwealth Share held. On a post-Transaction, pre-Financing basis, it is expected that existing Commonwealth Silver and Delta Gold shareholders will own approximately 79.5% and 20.5% of the combined company (the “Resulting Issuer”), respectively.

Commonwealth Silver will amalgamate with a newly-formed wholly-owned subsidiary of Delta Gold pursuant to a statutory plan of arrangement under the Canada Business CorporationsAct. The Resulting Issuer is expected to be named “Commonwealth Silver and Gold Mining Inc.”, will be headquartered in Toronto, and will continue to be listed on the TSX Venture Exchange (the “TSX-V”). On a post-Transaction and pre-Financing basis, the Resulting Issuer will have approximately 46.5 million shares outstanding (55.2 million on a fully-diluted basis).

Closing of the Transaction, as contemplated by the Agreement, is subject to a number of conditions and approvals, which include: completion of the Financing on acceptable terms; approval by the respective shareholders of Delta Gold and Commonwealth Silver; court approval; and the approval of all relevant regulatory authorities, including the TSX-V. There can be no assurance that the Transaction or the Financing will be completed as proposed or at all. The Agreement provides for termination rights, including in the event the Transaction is not completed by September 30, 2014.

Further details regarding the Transaction will be provided in a joint management information circular (the “Circular”) to be mailed to shareholders of Commonwealth Silver and Delta Gold in connection with their respective shareholders’ meetings to approve the Transaction. The parties expect to complete and mail the Circular in early July 2014 and to hold their respective special meetings in early August 2014. The Transaction is expected to close shortly thereafter.

The directors of each of Delta Gold and Commonwealth Silver have unanimously determined (with any interested directors abstaining) to recommend the approval of the Transaction to the shareholders of their respective companies. In connection with entering into the Agreement, directors, officers and major shareholders collectively holding approximately 59.3% of the issued and outstanding Commonwealth Shares and 25.7% of the issued and outstanding Delta Shares have entered into agreements to vote their respective shareholdings in favour of the Transaction.

Delta Gold intends to continue the trading halt currently in effect in respect of the Delta Shares until further notice.

Financing Update

Pursuant to the Financing, Commonwealth Silver will issue subscription receipts (each, a “Subscription Receipt”) at a price of $0.40 per Subscription Receipt. Each Subscription Receipt will be automatically exchanged, prior to the closing of the Transaction, into units (each, a “Unit”), each Unit to be comprised of one Commonwealth Share and one Commonwealth Share purchase warrant (each, a “Commonwealth Warrant”). Each Commonwealth Warrant will entitle the holder to purchase one additional Commonwealth Share at a price of $0.50 until three years following the date of closing of the Financing, which is expected to occur concurrently with the closing of the Transaction. Securities issued pursuant to the Financing are not expected to be subject to resale restrictions upon completion of the Transaction.

Euro Pacific Canada Inc. (“Euro Pacific”) and Edgecrest Capital Corporation (“Edgecrest”) are acting as lead agents in connection with the Financing. The proceeds raised in the Financing will be used by the Resulting Issuer to fund the advancement of the Commonwealth Project (as defined below), the advancement of Delta Gold’s Imperial Project in California, and general working capital purposes. The lead agents and the other members of the syndicate will collectively receive a cash commission equal to 6.0% of the gross proceeds of the Financing and broker warrants (“Broker Warrants”) equal to 6.0% of the number of Subscription Receipts issued pursuant to the Financing. Each Broker Warrant will entitle the holder to purchase one additional Commonwealth Share at a price of $0.40 until three years following the date of closing of the Financing.

Completion of the Financing is subject to certain conditions including, among others, the completion of the Transaction, satisfactory completion of due diligence, and the entering into of a definitive agency agreement.

Acquisition of Property Rights by Commonwealth Silver

Commonwealth Silver is pleased to announce that it has entered into a definitive asset purchase agreement (the “Purchase Agreement”) to acquire approximately 1,327 acres of surface rights and associated water rights (the “Property Rights”) adjacent to its Commonwealth Gold and Silver Project in Cochise County, Arizona (the “Commonwealth Project”). The Property Rights are being purchased from a privately-owned Arizona company (the “Vendor”).

Under the terms of the Purchase Agreement, Commonwealth Silver is acquiring the Property Rights from the Vendor in consideration for an initial payment of US$100,000 plus a subsequent payment of either (i) US$1,400,000, if the acquisition of the Property Rights closes within three months of the date of execution of the Purchase Agreement, or (ii) US$1,500,000, if the acquisition of the Property Rights closes between three and six months from such date. It is expected that the subsequent payment will be made by the Resulting Issuer, immediately following the closing of the Transaction.

Michael H. Farrant, President and Chief Executive Officer of Commonwealth Silver commented, “Our acquisition of these surface and water rights was critical to the development of the Commonwealth Project, including permitting the Project entirely on private land and securing access to future water requirements. This acquisition serves to significantly de-risk the Project and moves us a huge step forward in terms of being able to execute on the mine plan as laid out in the preliminary economic assessment. We are extremely pleased with the progress being made on all fronts, including the Transaction.”

Promissory Note Financing

Following approval from the TSX-V, Delta Gold and Commonwealth Silver have executed definitive loan documentation pursuant to which Delta Gold has advanced to Commonwealth Silver funds in the aggregate amount of $1,000,000, as previously announced on April 24, 2014. Such funds are initially non-interest bearing and are secured by a pledge of the outstanding shares of Commonwealth Silver’s wholly-owned subsidiary.

About Delta Gold and Commonwealth Silver

For further information on Delta Gold, please visit Delta Gold’s website at www.deltagold.com. For further information on Commonwealth Silver, please visit Commonwealth Silver’s website at www.commonwealthsilver.ca. The Transaction presentation will be made available on both companies’ websites in due course.

CAUTIONARY STATEMENTS

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this news release.

All statements in this news release, other than statements of historical fact that address events or developments which Delta Gold or Commonwealth Silver expect to occur, constitute “forward-looking information”. These statements relate to future events or future performance and reflect Commonwealth Silver’s and Delta Gold’s current expectations regarding the Transaction, the Financing, the Consolidation, the acquisition of the Property Rights, and the future growth, results of operations, business prospects and opportunities of the Resulting Issuer. Forward-looking information reflects Commonwealth Silver’s and Delta Gold’s current internal projections, expectations or beliefs and is based on information currently available to Commonwealth Silver and Delta Gold, respectively. In some cases forward-looking information can be identified by terminology such as “may”, “will”, “should”, “expect”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “projects”, “potential”, “scheduled”, “forecast”, “budget” or the negative of those terms or other comparable terminology. Assumptions upon which such forward-looking information is based include, among others, that Delta Gold and Commonwealth Silver will be able to satisfy the conditions to closing contained in the Agreement, that the Financing will be completed on terms favourable to Commonwealth Silver and Delta Gold, that the required approvals to the Transaction and matters relating thereto will be obtained from the shareholders of each of Delta Gold and Commonwealth Silver, that all required regulatory and court approvals will be obtained on a timely basis and on terms favourable to each of Delta Gold and Commonwealth Silver, that Commonwealth Silver will be able to satisfy the conditions to closing contained in the Purchase Agreement, and that the business prospects and opportunities of the Resulting Issuer will be as anticipated. Many of these assumptions are based on factors and events that are not within the control of Delta Gold, Commonwealth Silver or the Resulting Issuer, and there is no assurance they will prove to be correct or accurate.

Risk factors that could cause actual results to differ materially from those predicted herein include, without limitation: the speculative nature of the mineral exploration and development industry; an inability to obtain any of the approvals required to complete the Transaction; volatility in financial markets or general economic conditions; capital requirements and the need for additional financing; fluctuations in international currency markets and in the rates of exchange for the currencies of Canada and the United States; price volatility in the spot and forward markets for commodities generally and for silver and gold in particular; discrepancies between actual and estimated production, mineral reserves and mineral resources, metallurgical recoveries and/or exploration results; changes in regulations and unpredictable political or economic developments in the countries in which the Resulting Issuer will or may carry on business; competition in the mineral exploration and development industry; loss of key personnel; changes in project parameters as plans continue to be refined; labour disputes; and defective title to mineral claims or property, or contests over claims to mineral properties. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins and flooding (and the risk of inadequate insurance or inability to obtain insurance to cover these risks), as well as the risks disclosed under the heading “Risks and Uncertainties” in the most recent management discussion and analysis for Delta Gold available under its SEDAR profile at www.sedar.com. Forward-looking information is not a guarantee of future performance and actual results and future events could differ materially from those discussed in any such forward-looking information. All of the forward-looking information contained in this news release is qualified by these cautionary statements. Although Commonwealth Silver and Delta Gold believe that the forward-looking information contained herein is based on reasonable assumptions, readers cannot be assured that actual results will be consistent with such statements. Accordingly, readers are cautioned against placing undue reliance on any of the forward-looking information contained herein. Each of Delta Gold and Commonwealth Silver expressly disclaims any intention or obligation to update or revise any forward-looking information in this news release, whether as a result of new information, events or otherwise, except in accordance with applicable securities laws.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. Such securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Delta Gold Corporation
Marco A. Romero
President & CEO
604.681.2020 ext. 101
info@deltagold.com
http://www.deltagold.com

Commonwealth Silver and Gold Mining Inc.
Michael H. Farrant
President & CEO
416.278.4149
mfarrant@commonwealthsilver.ca
http://www.commonwealthsilver.ca

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Due to the fact that CommonwealthMine.org has been playing cat and mouse with Delta Gold Corporation and Commonwealth Silver and Gold Mining Inc. to collect information on what’s really happening in Pearce, Arizona it is likely that this press release will be removed from the internet once it has been found that we were able to access it. With that said, below are screenshots of the press release for record in case it is later taken off the web.

Delta Gold Corporation and Commonwealth Silver and Gold Mining

Delta Gold Corporation and Commonwealth Silver and Gold Mining

Delta Gold Corporation and Commonwealth Silver and Gold Mining

Delta Gold Corporation and Commonwealth Silver and Gold Mining

Source: http://www.canadianminingjournal.com/press-releases/story.aspx?id=1003100813&er=NA

Delta Gold Corporation Announces Q2 2014 Financial Results – Commonwealth Mine Pearce, Arizona

VANCOUVER, BRITISH COLUMBIA, May 26, 2014 (Marketwired via COMTEX) — Delta Gold Corporation (the “Company” or “Delta”) CA:DLT -20.00% reports that it has filed on SEDAR ( www.sedar.com ) its unaudited condensed interim consolidated financial statements and related management discussion and analysis (“MD&A”) for three and six months ended March 31, 2014.

The Company reported a loss and comprehensive loss for the three and six months ended March 31, 2014 of $2,980,188 and $3,321,042 respectively compared with $1,025,775 and $2,045,332 in the three and six months ended March 31, 2013.

The activities in the Current Period focused on business development investigations and the recently announced transaction with Commonwealth Silver and Gold Inc. (“CSGM”), while the Comparative Period focused on the closing of the ADR Capital Corp. transaction and the related equity financings… Read More

STOP CYANIDE MINING! Pearce, Arizona – Health issues involving cancer and nervous system disorders coming your way thanks to Commonwealth Silver and Partnering Canadian Mining Companies.

This is an open letter on behalf of the people of Pearce, Arizona to the following individuals and organizations:

Executives of Commonwealth Silver and Gold Mining Inc. of Ontario, Canada

  • Michael Farrant – President & CEO & Director
    Phone: 416-278-4149
    E-mail: mfarrant@commonwealthsilver.ca
  • Hall Stewart – VP, Exploration & Director
    Phone: 520-820-2686
    E-mail: hstewart@commonwealthsilver.ca

Arizona State Government

  • Jan Brewer, Governor of Arizona
    Phone: 520-628-6580
  • John McCain, Senior United States Senator from Arizona
    Phone: 520-670-6334
  • Ron Barber, Congressman Representing the 2nd District of Arizona
    Phone: 520-881-3588

In addition, this letter was sent to the corporate offices of Commonwealth Silver’s partnering mining companies (Goldcorp and Delta Gold Corporation); the Environmental Protection Agency; major newspapers throughout the United States; major news networks including, CNN, ABC, NBC, CBS, and PBS; Newspapers throughout the State of Arizona, parties of concern in Pearce, Arizona; environmental organizations including the Sierra Club and Earth First; and known supporters of Commonwealth Silver and Gold Mining Inc’s, open-pit cyanide mining in Pearce, Arizona, including the Triangle T Ranch and the Willcox Range News.

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On behalf of the people of Pearce, Arizona, we refuse to tolerate the Canadian mining company Commonwealth Silver and Gold Mining Inc. (and their partner companies Goldcorp and Delta  Gold Corporation), to develop a 100 meter deep open-pit cyanide mine in our town of Pearce, Arizona.

Commonwealth Silver and Gold Mining Inc. and its partner companies, Goldcorp and Delta Gold Corporation, have a long history of destroying the environments of the areas where they operate as well as other criminal offenses including rape and murder.

Since Commonwealth Silver has resumed operations at the Commonwealth Mine in Pearce, Arizona, arsenic levels in the drinking water at the Pearce Elementary School (directly across the street from the mine) have exceeded safe limits for arsenic and is no longer drinkable.

Commonwealth Silvers’ partners, Goldcorp/Delta Gold Corporation, have a long track record of human rights violations and long-term environmental damage. Goldcorp’s mining project in Peñasquito, Mexico is depleting water supplies in the area. The mine, which uses an irrigation system known to cause environmental problems, is also negatively impacting local residents. Adjacent communities have reported increased health issues involving cancer and nervous system disorders most likely caused by exposure to toxic materials from the mine. Furthermore, Goldcorp has not been paying taxes on their mining profits, taxes that should be going to the local community as required by Mexican law. More can be found concerning this incident at http://fairwhistleblower.ca/content/canadian-mining-companies-lack-accountability

Goldcorp/Delta Gold Corporation, is also responsible for severe human rights infractions, including the fatal shooting of a 16-year-old girl. https://news.vice.com/article/meet-the-woman-taking-on-canadian-mining-companies

The people of Pearce, Arizona will not sit and wait while these knowingly corrupt Canadian mining companies deplete our already limited water supply, poison our residents of the Pearce community (population 2,100), leave us with increased health issues, including cancer and nervous system disorders, and cause long-term environmental damage to OUR land for generations to come.

As residents of Arizona and CITIZENS OF THE UNITED STATES, we refuse to sit by and knowingly watch our home turn into the next Summitville Mine Disaster, Love Canal, or whatever horrific example comes to mind for the sake of our government and the Canadian government to profit at the expense of our health and lives. We demand help from OUR government before the inevitable harm that a deep open-pit cyanide mine will do to our community.

It’s time for OUR federal and state governments to work for, and protect, the people of America, not to endanger our health and lives for corporate profits of foreign nations such as Canada – and themselves. If Pearce was a larger area such as Phoenix our government would not allow this to happen, however, it appears the lives of RURAL PEOPLE in Arizona are expendable for the right price.

As with the most recent VA disaster in Arizona, we want to know where John McCain is, and we want answers. If you are not going to serve and PROTECT the people of YOUR STATE Mr. McCain, it’s time for you to resign. We are waiting for action… Not words. WE WILL NOT BE VICTIMS OF CORPORATE GENOCIDE!

[ Update 6/18/2014: Yesterday, we finally received the following response from John McCain, which clearly validates why nothing ever gets addressed in this country until after the damage is done (think VA neglect of our veterans, 911, Katrina, Summitville mining disaster, Love Canal, etc.). Shame on you John McCain… ]

Contact John McCain

STOP CANADIAN CYANIDE MINING IN ARIZONA!

The following addresses general information concerning the Canadian mining companies involved in this matter – Commonwealth Silver and Gold Mining Inc, Goldcorp, and Delta Gold Corporation. However, our government and news organizations should be RESPONSIBLE for DUE DILIGENCE to further research our concerns – and address them before tragedy happens. Not after the fact…

Commonwealth Silver’s plan to develop a 100 meter deep open-pit cyanide-leach silver-gold operation http://www.willcoxrangenews.com/news/article_82599ba6-cfe6-11e3-ac63-001a4bcf887a.html

Commonwealth Silver trying to soften the locals fears of Canadians, but not one word about their plans of developing their open-pit cyanide mine http://www.willcoxrangenews.com/opinion/editorials/article_d1a82aae-e5fa-11e3-a973-001a4bcf887a.html

Delta Gold Corporation and Commonwealth Silver and Gold Mining Inc. Sign Binding Agreement for Proposed Business Combination

delta-gold-corporation-and-commonwealth-silver-and-gold-mining-inc-sign-binding-agreement-for-proposed-business-combination

VANCOUVER, BRITISH COLUMBIA and TORONTO, ONTARIO–(Marketwired – April 24, 2014) – Delta Gold Corporation (TSX VENTURE:DLT) (“Delta Gold”) and Commonwealth Silver and Gold Mining Inc., a privately-held company incorporated under the laws of Canada (“Commonwealth Silver”), are pleased to announce that they have entered into a binding Letter Agreement dated April 23, 2014 (the “Agreement”) with respect to a proposed business combination (the “Transaction”) which would result in a reverse takeover (“RTO”) of Delta Gold by Commonwealth Silver thereby resulting in a going public transaction for Commonwealth Silver.

Under the terms of the Transaction, Delta Gold’s outstanding common shares (each, a “Delta Share”) will be consolidated on a 20:1 basis (the “Consolidation”). For the purposes of determining an exchange ratio, Delta Gold is being valued at $0.60 per Delta Share on a post-Consolidation basis, for a market capitalization of $5.7 million. Delta Gold’s primary assets include cash and cash equivalents of approximately $4.7 million (unaudited as at March 31, 2014) and an option to acquire a 100% interest in the Imperial Gold Project in Imperial County, California (the “Imperial Project”) from Goldcorp USA Inc. (a wholly-owned subsidiary of Goldcorp Inc.). The primary asset of Commonwealth Silver is a 98% interest in its flagship Commonwealth Gold and Silver Project (the “Commonwealth Project”) in Cochise County, Arizona. In connection with the Transaction, Commonwealth Silver expects to complete a minimum concurrent financing of $3 million and up to $10 million to be priced in the context of the market (the “Financing”). Shares of Commonwealth Silver (each, a “Commonwealth Share”) will be valued from the price established for the Financing. Shareholders of Commonwealth Silver will receive one Delta Share (post-Consolidation) for that number of Commonwealth Shares calculated as $0.60 divided by the price of the Commonwealth Shares issued in the Financing. On a post-Transaction, pre-Financing basis, it is expected that existing Commonwealth Silver and Delta Gold shareholders will own approximately 80% and 20% of the combined company (the “Resulting Issuer”), respectively.

While both the Imperial Project and Commonwealth Project are at the Preliminary Economic Assessment (“PEA”) stage, the Commonwealth Project has a much shorter expected timeline to production as it is situated on private patented mining claims and can be placed into production at an estimated capital cost of approximately US$27 million.

Highlights of the Resulting Issuer

  • Well capitalized precious metals company with the advanced stage Commonwealth Project in Arizona on private land with low initial capital required to become a producing company;
  • Well diversified and strong shareholder base providing enhanced market liquidity for shareholders and, accordingly, a greater ability to source capital;
  • Strong post-Financing balance sheet enabling successful execution of initiatives aimed at growing shareholder value;
  • Pipeline of other precious metals projects in the United States including the Imperial Project in California and the Blue Jeep and San Ignacio exploration projects in Arizona; and
  • Enhanced market presence.

Proposed Management and Directors of the Resulting Issuer

Upon completion of the Transaction, executive management of the Resulting Issuer is expected to consist of Michael H. Farrant, B.Comm., CPA, CA, President and Chief Executive Officer (“CEO”) (currently co-founder, President and CEO of Commonwealth Silver); Eugene T. Lee, B.Comm., CPA, CA Chief Financial Officer (“CFO”) and Corporate Secretary (currently CFO and Corporate Secretary of Commonwealth Silver); Hall H. Stewart, B.Sc., C.P.G., R.G., Vice President, Exploration (currently co-founder and Vice President, Exploration of Commonwealth Silver); and Marco A. Romero, Vice President, Corporate Development (currently President and CEO of Delta Gold). It is expected that the Board of Directors of the Resulting Issuer will be comprised of seven directors, including Michael H. Farrant and Hall H. Stewart as non-independent directors and Julian Kemp, B.B.A., CPA, CA, C.Dir. (the Vice President, Finance and CFO of Fortune Minerals Limited from 2004 until January 2014); Robert Hatch, B.A. (currently President of two privately-held mining companies); and Andrea Zaradic, M.A.Sc. (the President and CEO of Troon Ventures Ltd. from 2012 to February 2014) as independent directors with two additional independent directors to be named in due course.

Michael H. Farrant, President and Chief Executive Officer of Commonwealth Silver commented, “We are delighted with the announcement of the Transaction with Delta Gold. The last two years have been an extremely challenging time for the mining industry and I am very happy to have found a partner in Delta Gold that recognizes the superior value of the work that we have done on the Commonwealth Project and who is willing to combine their financial resources in an effort to build an emerging precious metals producer. We are also very excited for the shareholders of Commonwealth Silver, some of whom have waited nearly three years to see the company go public. While staying private over that period allowed Commonwealth Silver to avoid times of extreme volatility in the public markets and retain a fair valuation, the time has come to provide our shareholders with liquidity now that confidence is returning to the marketplace and the Commonwealth Project has been advanced to the PEA stage.”

Marco A. Romero, President and Chief Executive Officer of Delta Gold added, “We have been searching for a long time to deliver to the shareholders of Delta Gold an additional high quality precious metals project in a safe jurisdiction. We believe that we have found that in the Commonwealth Project. With a much shorter permitting timeline than the Imperial Project, we can now look forward to being shareholders of a producing precious metals company much sooner than we otherwise would have. For a private company, Commonwealth Silver has an excellent shareholder base which will broaden the longer term support for the company in the marketplace. I look forward to working with the Commonwealth Silver team to build a precious metals company founded on the execution of high standards and best practices.”

Benefits of the Transaction for Delta Gold Shareholders

  • Provides Delta Gold shareholders with an ownership stake in an advanced gold and silver project in Arizona with a much shorter permitting timeline to production than the Imperial Project and with low capital requirements and positive economics at current and lower metal prices;
  • Diversifies operating risk amongst multiple projects;
  • Allows for general and administrative synergies;
  • Delivers a team with solid open pit, heap leach, precious metals mine operating experience;
  • Delivers strong and committed shareholder base that significantly improves capital structure; and
  • Improves market presence.

Benefits of the Transaction for Commonwealth Silver Shareholders

  • Private shareholdings become public, providing shareholders with market liquidity in an exchange listed entity;
  • Provides Commonwealth Silver with the cash necessary to advance the Commonwealth Project through the permitting and prefeasibility stage and increases the Resulting Issuer’s ability to raise capital necessary to advance current business initiatives and growth strategy;
  • Adds another significant gold development project in the United States to its project portfolio; and
  • Enhances the shareholder base with the addition of the Delta Gold shareholders and improves market presence.

Financing Plan

In connection with the Transaction and prior to the closing thereof, Commonwealth Silver intends to complete the Financing so as to raise gross proceeds of between $3 million to $10 million. These funds would be used for working capital, property acquisition-related costs and project development costs. The Financing is expected to consist of non-brokered and brokered private placement offerings of units and/or subscription receipts, ultimately entitling purchasers to receive common shares and warrants of the Resulting Issuer upon completion of the Transaction. It is anticipated that the Delta Gold securities issued in exchange for the Commonwealth Silver securities issued in connection with the Financing will be issued pursuant to the business combination prospectus exemption under Section 2.11 of National Instrument 45-106 – Prospectus and Registration Exemptions and as such will not be subject to any hold period under applicable Canadian securities laws. Additional information on the Financing will be provided in a subsequent news release once available.

Other Transaction Details

In connection with signing the Agreement and upon obtaining approval of the TSX Venture Exchange (“TSX-V”) and execution of loan documentation, Delta Gold shall advance $1,000,000 to Commonwealth Silver, which amount shall initially be non-interest bearing and which shall be secured by a pledge of the outstanding shares of Commonwealth Silver’s wholly-owned subsidiary.

The Agreement also provides that Delta Gold and Commonwealth Silver will negotiate and enter into a definitive agreement to supersede the Agreement. Further details regarding the Transaction shall be provided in a joint information circular (the “Circular”) which will be mailed to shareholders of Delta Gold and Commonwealth Silver in connection with their respective shareholders’ meetings to approve the Transaction.

Closing of the Transaction is subject to a number of conditions and approvals, which include completion of the Financing on acceptable terms; the execution of a definitive agreement; approval of the respective shareholders of Delta Gold and Commonwealth Silver; court approval (if the Transaction is effected by way of plan of arrangement); and the approval of all relevant regulatory authorities and third parties including the Toronto Stock Exchange (the “TSX”) or the TSX-V, as the case may be. There can be no assurance that the Transaction or the Financing will be completed as proposed or at all. The Agreement provides for termination rights, including in the event the Transaction is not completed by July 31, 2014.

The Resulting Issuer is expected to be named “Commonwealth Silver and Gold Mining Inc.” and will be headquartered in Toronto. Every commercially reasonable effort will be made to qualify the common shares of the Resulting Issuer for trading on the TSX or, if it is determined that the combined company does not meet TSX listing requirements, Tier 1 on the TSX-V. On a post-Transaction, pre-Financing basis, the Resulting Issuer will have approximately 48.6 million shares outstanding.

Timing

The parties expect to complete and mail the Circular by the end of May 2014 and plan to hold their respective special meetings in June 2014. The Transaction is expected to close shortly thereafter.

Financial Advisors and Counsel

Delta Gold’s legal counsel is McMillan LLP while Commonwealth Silver’s legal counsel is Peterson Law Professional Corporation. Neither company has retained a financial advisor in connection with the Transaction.

Board of Directors’ Recommendations

The directors of each of Delta Gold and Commonwealth Silver have unanimously determined to recommend the approval of the Transaction. Pursuant to the Agreement, directors and officers of both companies will enter into agreements to vote their respective shareholdings in favour of the Transaction. Goldcorp USA Inc., Delta Gold’s largest arm’s length shareholder owning 11.5% of Delta Gold and shareholders holding greater than 5% of the outstanding Commonwealth Shares will also be required to enter into agreements to vote their respective shareholdings in favour of the Transaction.

The Agreement includes a commitment by each of Delta Gold and Commonwealth Silver not to actively solicit alternative transactions to the proposed Transaction. In certain circumstances, if a party terminates the Agreement or definitive agreement to enter into an agreement to effect a business combination other than the Transaction or pursuant to a superior proposal, then such party is obligated to pay to the other party as a termination payment an aggregate amount equal to the greater of costs associated with the Transaction or $100,000. Each party has also been provided with certain other rights, representations and warranties and covenants customary for a transaction of this nature and each party has the right to match competing offers made to the other party.

Pro Forma Selected Financial Information and Shareholdings

Assuming that the Financing raises gross proceeds of $3 million to $10 million and after satisfying existing obligations of Commonwealth Silver, the Resulting Issuer is expected to have approximately $6 million to $13 million in cash and no debt. Notable shareholders of the Resulting Issuer will include leading institutional funds, a number of prominent companies in the mining industry, including Goldcorp USA Inc. and Coeur Mining Inc.

Additional financial information with respect to Commonwealth Silver and pro forma information on the combined company will be provided at a later date.

Pro Forma Measured & Indicated (“M+I”) and Inferred Resources

The following Mineral Resource estimates for the Commonwealth Project are effective as at June 10, 2013 and were prepared as part of the National Instrument 43-101 (“NI 43-101”) technical report dated September 5, 2013 and titled, “National Instrument 43-101 Technical Report on Resources, Commonwealth Silver and Gold Project, Cochise County, Arizona, USA” as prepared by Zachary J. Black, SME-RM, Jennifer J. Brown, P.G., SME-RM, and Jeffery W. Choquette, P.E., all of Hard Rock Consulting, LLC (“HRC”) and all of whom are consultants and independent Qualified Persons as defined under NI 43-101 (the “Commonwealth Technical Report”). A copy of the Commonwealth Technical Report will be available under Delta Gold’s SEDAR profile at www.sedar.com.

The following Mineral Resource estimates for the Imperial Project are effective as at October 26, 2012 and were prepared as part of the NI 43-101 PEA technical report dated May 29, 2012 and updated with an effective date of October 26, 2012 and titled, “Preliminary Economic Assessment Technical Report for the Imperial Project, California, USA” as prepared by Gordon Doerksen, P.Eng., VP Technical Services, JDS Energy and Mining Inc., Mr. Glen Cole, P.Geo., Mr. Dino Pilotto, P.Eng., and Mr. Adrian Dance, P.Eng., each a Principal Consultant with SRK Consulting (Canada) Inc. and Ms. Lois Boxill, P.Eng., Senior Consultant with SRK Consulting (Canada) Inc. and, all of whom are independent Qualified Persons as defined under NI 43-101 (the “Imperial Technical Report”). The Imperial Technical Report is available under Delta Gold’s SEDAR profile at www.sedar.com.

Measured Cut-off Grade (g/t) Tonnes
(000’s)
Gold (Au) Silver (Ag) Gold Equivalent (AuEq)
Grade (g/t
Au)
Ounces
(Au)
Grade (g/t
Ag)
Ounces
(Ag)
Grade
(g/t AuEq)
Ounces
(AuEq)
Commonwealth 0.40 (AuEq) 4,069 0.57 74,800 48.6 6,358,000 1.38 180,800
Indicated
Commonwealth 0.40 (AuEq) 21,934 0.45 314,500 36.8 25,951,000 1.06 746,100
Imperial 0.17 (Au) 45,763 0.60 879,000 0.60 879,000
Total M+I 1,268,300 32,309,000 1,805,900
Inferred
Commonwealth 0.40 (AuEq) 7,380 0.29 67,900 17.2 4,075,000 0.58 136,700
Imperial 0.17 (Au) 76,334 0.53 1,298,000 0.53 1,298,000
Total Inferred 1,365,900 4,075,000 1,434,700

Notes:

  1. The resource categories used here and the preparation of these resource estimates are in accordance with the requirements of the Canadian Institute of Mining, Metallurgy, and Petroleum’s “CIM Standards on Mineral Resources and Reserves, Definition and Guidelines” as per National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
  2. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the Mineral Resources estimated will be converted into Mineral Reserves.
  3. Measured and Indicated Mineral Resources captured within the pit shell meet the test of reasonable prospect for economic extraction and can be declared a Mineral Resource.
  4. Inferred Mineral Resources are that part of the Mineral Resource for which the quantity and grade or quality are estimated on the basis of geological evidence and limited sampling and reasonably assumed, but not verified, geological and grade continuity.
  5. For the Commonwealth Project, all the Mineral Resources are stated above a 0.4 g/t gold equivalent (“AuEq”) cut-off and pit optimization is based on assumed gold and silver prices of US$1,350/oz. and US$22.50/oz., respectively. Metallurgical recoveries were assigned by lithologic unit.
  6. For the Imperial Project, all the Mineral Resources are stated above a 0.17 g/t Au cut-off and pit optimization is based on an assumed gold price of US$1,300/oz.
  7. Mineral Resources on undeveloped properties assumes successful permitting allowing mining operations to be conducted.
  8. Mineral Resource tonnage and contained metal have been rounded to reflect the accuracy of the estimate, and numbers may not add due to rounding.
  9. AuEq stated using a ratio of 60:1 and ounces calculated using the following conversion rate: 1 troy ounce = 31.1035 grams. Metallurgical recoveries are not accounted for in the AuEq calculation.

Assaying and QA/QC

For the Commonwealth Project, after project geologists logged and marked the core, technicians cut the individual lengths with a diamond saw, then bag the samples, tag the bags and secure them with security clips. The samples were then shipped by UPS to ALS Minerals in Reno, Nevada. Samples were analyzed for gold by fire assay with Atomic Absorption (“AA”) finish. Silver analysis was included in a 30 element Inductivity Coupled Plasma (“ICP”) analysis (using a four-acid digest) conducted on all samples. Gold and silver overlimit assays were analyzed by fire assay with a gravimetric finish. All drilling by Commonwealth Silver has included a rigorous QA/QC program monitoring sample quality. Commonwealth Silver inserts assay standards, blanks and duplicate samples into the sample stream and performs statistical review of the results.

Overview of Assets of the Resulting Issuer

Development-Stage Gold Projects:

Commonwealth Project, Cochise County, Arizona

In February 2011, Commonwealth Silver entered into an option agreement to acquire an 88% interest in eight (8) patented mining claims comprising the past producing Commonwealth Mine in Cochise County, Arizona, approximately 75 miles southeast of Tucson, Arizona. In June 2011, Commonwealth Silver purchased an additional 10% interest in these claims for US$152,000 increasing its interest to 98%. From 1895 to the late 1920’s, the Commonwealth Mine produced approximately 12 million ounces of silver and 138,000 ounces of gold. This vein system with significant stockwork veining has been mapped over 1.3 km of strike length with drilling having tested approximately 1,000 meters of this strike length to a maximum depth of just over 200 meters. All the known veins in the district have a combined strike length of over 7 km.

An initial Mineral Resource estimate in compliance with NI 43-101 was calculated on the Commonwealth Project in October 2011 by SRK Consulting (U.S.) Inc. which included assays from 171 drill holes (155 historic and 16 new core holes) covering 17,675 meters of drilling. After completing an additional 37 core holes covering approximately 5,500 meters, the Mineral Resource estimate was updated by HRC and presented in the Commonwealth Technical Report. Subsequently, HRC completed a PEA for Commonwealth Silver to be presented in an NI 43-101 technical report and filed under Delta Gold’s SEDAR profile at www.sedar.com within 45 days of the date of this new release. Highlights from the base case study at US$1,350 per ounce gold and US$22.50 per ounce silver, based solely on estimated Measured and Indicated Mineral Resources include after-tax net present value (“NPV”) of US$101.3 million at a 5% discount rate and after-tax internal rate of return (“IRR”) of 58% with an after-tax payback period of 1.6 years based on pre-production capital cost of approximately US$27 million including a 20% contingency. Average annual production is projected at 35,800 ounces of gold and 1.3 million ounces of silver (57,000 ounces of gold-equivalent production at a 60:1 gold to silver ratio) at a processing rate of 10,000 tonnes per day (“tpd”) with average recovery rates of 79% for gold and 34% for silver over an 8.7 year mine life. Average cash operating costs over the mine life are expected to be approximately US$831 per ounce of gold equivalent with a life-of-mine strip ratio of 0.97:1. The HRC PEA has been constrained to the Mineral Resource estimate contained with an open pit located entirely on the patented mining claims and does not take into account the potential for additional mineralization on the adjoining unpatented mining claims or the potential for mineralization at the nearby Blue Jeep and San Ignacio exploration projects discussed below. It is expected that with the existing cash balances of Delta Gold and the Financing, the Resulting Issuer will work towards significantly advancing the environmental permitting on the Commonwealth Project during 2014 in addition to completing a prefeasibility study advancing the Commonwealth Project to a construction decision. The Resulting Issuer will look to secure project financing, complete permitting and substantially complete construction during 2015 with a view to achieving commercial production in 2016.

Imperial Project, Imperial County, California

In June 2012, Delta Gold entered into an option agreement with Goldcorp USA Inc. that grants Delta Gold the option to acquire 100% of the Imperial Project, currently at the PEA and permitting stage, located in Imperial County, California. The option agreement was amended and restated in September 2013 to require work commitments totaling $10.0 million over a four year period to begin only once all permits for the feasibility study drilling program are received, but in any event, no later than June 2021. In addition, required share-based payments under the option agreement are now tied to project milestones including receipt of all permits for the feasibility study drilling program, a positive construction decision and upon the project reaching commercial production. Further contingent payments could be due following commercial production at gold prices in excess of US$1,300 per ounce.

Based on the Imperial Technical Report, highlights from the base case mine plan at US$1,300 per ounce gold comprised of Indicated (53%) and Inferred (47%) estimated Mineral Resources included an after-tax NPV of US$136 million at a 5% discount rate, after-tax IRR of 19% and after-tax payback of 3.5 years on initial capital spending of US$202 million. The PEA on the Imperial Project contained within the Imperial Technical Report is preliminary in nature and includes Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves, and there is no certainty that the PEA on the Imperial Project will be realized. Annual production at the Imperial Project is projected at 119,000 ounces of gold at a processing rate of 25,000 tpd over a 10 year mine life at cash operating costs of US$599 per ounce and all-in costs of US$965 per ounce over the life-of-mine. The PEA anticipates a strip ratio of 2.68 with favourable cost conditions resulting from weakly cemented gravel overburden, excellent metallurgy and low reagent consumption. While there exists the potential for modest expansion of estimated Mineral Resources which could extend the projected mine life, the single biggest risk factor continues to be Delta Gold’s ability to successfully permit the remaining phases of mine development and operation.

The Resulting Issuer plans to focus its efforts over the next year on building community support for the Imperial Project in the hopes that this may foster a more favourable permitting environment. It is expected that Marco A. Romero will continue to lead these efforts following completion of the Transaction.

Exploration-Stage Gold and Silver Projects of the Resulting Issuer:

Blue Jeep, San Ignacio and Six Mile Hill, Cochise County, Arizona

Commonwealth Silver has a lease with an option to purchase a 100% interest in 34 unpatented mining claims comprising the Blue Jeep, San Ignacio and Six Mile Hill exploration projects which surround the Commonwealth Project. The Blue Jeep project is located approximately 2 miles east of the Commonwealth Project and consists of ten (10) contiguous mining claims known as Blue Jeep 1 through 9 and the Brindle Steer. The San Ignacio project is located approximately 1 mile east of the Commonwealth Project and consists of eighteen (18) mining claims known as San Ignacio 1 through 18. The Six Mile Hill project is located approximately 1 mile west of the Commonwealth Project and consists of six (6) mining claims known as San Ramon 1 through 6. From 1983 to 1984, the properties were explored by Santa Fe Mining Inc. who drilled 49 holes at Blue Jeep and 14 at San Ignacio. Commonwealth Silver has targeted these areas for near term exploration drilling with a goal of establishing Mineral Resources on these properties. It is ultimately the hope that these properties will contribute to the overall growth profile alongside the Commonwealth Project as a district scale operation.

About Delta Gold and Commonwealth Silver

For further information on Delta Gold, please visit Delta Gold’s website at www.deltagold.com. For further information on Commonwealth Silver, please visit Commonwealth Silver’s website at www.commonwealthsilver.ca. The Delta Gold and Commonwealth Silver Transaction presentation will be made available on both companies’ websites in due course.

Hall Stewart, C.P.G., R.G., Vice President, Exploration of Commonwealth Silver, is a qualified person for the purposes of NI 43-101 and has reviewed and approved the technical information in this news release relating to Commonwealth Silver.

Mr. John Purkis, P.Eng. (BC), Senior Vice President, Operations and Chief Operating Officer of Delta Gold, is a qualified person for the purposes of NI 43-101 and has reviewed and approved the technical information in this news release relating to Delta Gold.

CAUTIONARY STATEMENTS

Completion of the Transaction is subject to a number of conditions, including TSX-V acceptance and disinterested shareholder approval. The Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the Joint Management Information Circular to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Delta Gold should be considered highly speculative.

The TSX-V has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this news release.

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this news release.

All statements in this news release, other than statements of historical fact that address events or developments which Delta Gold or Commonwealth Silver expect to occur, constitute “forward-looking information”. These statements relate to future events or future performance and reflect Commonwealth Silver’s and Delta Gold’s current expectations regarding the Transaction, the Financing, the Consolidation, and the future growth, results of operations, business prospects and opportunities of each of Commonwealth Silver and Delta Gold (and the Resulting Issuer). Forward-looking information reflects Commonwealth Silver’s and Delta Gold’s current internal projections, expectations or beliefs and are based on information currently available to Commonwealth Silver and Delta Gold, respectively. In some cases forward-looking information can be identified by terminology such as “may”, “will”, “should”, “expect”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “projects”, “potential”, “scheduled”, “forecast”, “budget” or the negative of those terms or other comparable terminology. Assumptions upon which such forward-looking information is based include, among others, that Delta Gold and Commonwealth Silver will be able to satisfy the conditions to closing contained in the Agreement and any subsequent definitive agreement, that the Financing will be completed on terms favourable to Commonwealth Silver, that the required approvals to the Transaction and matters relating thereto will be obtained from the shareholders of each of Delta Gold and Commonwealth Silver, that all required regulatory, court and governmental approvals will be obtained on a timely basis and on terms favourable to the parties, and that the business prospects and opportunities of the Resulting Issuer, including its plans for the Commonwealth Project, the Imperial Project and other non-material mineral exploration properties, will proceed as anticipated.
Many of these assumptions are based on factors and events that are not within the control of Delta Gold, Commonwealth Silver or the Resulting Issuer, and there is no assurance they will prove to be correct or accurate. Risk factors that could cause actual results to differ materially from those predicted herein include, without limitation: the speculative nature of the mineral exploration and development industry; an inability to obtain any of the approvals required to complete the Transaction; volatility in financial markets or general economic conditions; capital requirements and the need for additional financing; fluctuations in international currency markets and in the rates of exchange for the currencies of Canada and the United States; price volatility in the spot and forward markets for commodities generally and for gold and silver in particular; discrepancies between actual and estimated production, Mineral Reserves and Mineral Resources, metallurgical recoveries and/or exploration results; changes in regulations and unpredictable political or economic developments in the countries in which Delta Gold and Commonwealth Silver (and the Resulting Issuer) does or may carry on business; competition in the mineral exploration and development industry; loss of key personnel; changes in project parameters as plans continue to be refined; accidents; labour disputes; and defective title to mineral claims or property or contests over claims to mineral properties. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins and flooding (and the risk of inadequate insurance or inability to obtain insurance to cover these risks), as well as the risks disclosed under the heading “Risks and Uncertainties” in the most recent management discussion and analysis for Delta Gold available under Delta Gold’s SEDAR profile at www.sedar.com. Forward-looking information is not a guarantee of future performance and actual results and future events could differ materially from those discussed in any such forward-looking information. All of the forward-looking information contained in this news release is qualified by these cautionary statements. Although Commonwealth Silver and Delta Gold believe that the forward-looking information contained herein is based on reasonable assumptions, readers cannot be assured that actual results will be consistent with such statements. Accordingly, readers are cautioned against placing undue reliance on any of the forward-looking information contained herein. Each of Delta Gold and Commonwealth Silver expressly disclaims any intention or obligation to update or revise any forward-looking information in this news release, whether as a result of new information, events or otherwise, except in accordance with applicable securities laws.

This news release and the information contained herein does not constitute an offer of securities for sale in the United States and securities may not be offered or sold in the United States absent registration or exemption from registration.

Delta Gold Corporation
Marco A. Romero
President & CEO
604.681.2020 ext. 101
info@deltagold.com
www.deltagold.com
Commonwealth Silver and Gold Mining Inc.
Michael H. Farrant
President & CEO
416.278.4149
mfarrant@commonwealthsilver.ca
www.commonwealthsilver.ca

Goldcorp Updates Shareholding in Delta Gold Corporation

February 16, 2013

TSX: G NYSE: GG

(All Amounts in $US unless stated otherwise)

VANCOUVER, Feb. 16, 2013 /CNW/ – GOLDCORP INC. (TSX: G), (NYSE: GG) reports that through its wholly-owned subsidiary, Goldcorp USA Inc., it has received 22,059,000 common shares (the “Shares”) in the capital of Delta Gold Corporation (formerly ADR Capital Corp.) (“Delta”) pursuant to a reverse takeover transaction involving Delta Gold Inc. that was completed on February 13, 2013 (the “Transaction”) as described in the Filing Statement of Delta dated December 28, 2012 and filed on http://www.sedar.com. The Shares received by Goldcorp pursuant to the Transaction represent approximately 11.5% of the 191,171,258 issued and outstanding common shares of Delta, and have an estimated value of $2.5 million. Pursuant to the Transaction, each Delta Gold Inc. common share was exchanged for 4.4118 common shares of Delta.

Goldcorp previously received 5,000,000 common shares of Delta Gold Inc. as a first payment for the granting of an option to Delta Gold Inc. to purchase the 100% Goldcorp-owned Imperial project, located in California, USA in June of 2012.

Subject to compliance with applicable securities laws in respect of the resale of the Shares, Goldcorp may purchase, sell or acquire securities of Delta in the future on the open market or in private transactions, depending on market conditions and other factors material to its investment decisions.

This press release is issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires a report to be filed with regulatory authorities in each of the jurisdictions containing additional information with respect to the foregoing matters (the “Early Warning Report”). For further information and to obtain a copy of the Early Warning Report filed in connection with the Transaction, please see Delta’s profile on the SEDAR website at http://www.sedar.com or contact:

Anna M. Tudela
Vice President, Regulatory Affairs and Corporate Secretary
Goldcorp Inc.
Suite 3400-666 Burrard Street
Vancouver, B.C. Canada V6C 2X8
Telephone: (604) 696-3000

Goldcorp is one of the world’s fastest growing senior gold producers. Its low-cost gold production is located in safe jurisdictions in the Americas and remains 100% unhedged.

Cautionary Note Regarding Forward Looking Statements

This press release contains “forward-looking statements”, within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation, concerning the business, operations and financial performance and condition of Goldcorp Inc. (“Goldcorp”). Forward-looking statements include, but are not limited to, statements with respect to the future price of gold, silver, copper, lead and zinc, the estimation of mineral reserves and resources, the realization of mineral reserve estimates, the timing and amount of estimated future production, costs of production, capital expenditures, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, hedging practices, currency exchange rate fluctuations, requirements for additional capital, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, timing and possible outcome of pending litigation, title disputes or claims and limitations on insurance coverage. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof.

Forward-looking statements are made based upon certain assumptions and other important factors that, if untrue, could cause the actual results, performances or achievements of Goldcorp to be materially different from future results, performances or achievements expressed or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which Goldcorp will operate in the future, including the price of gold, anticipated costs and ability to achieve goals. Certain important factors that could cause actual results, performances or achievements to differ materially from those in the forward-looking statements include, among others, gold price volatility, discrepancies between actual and estimated production, mineral reserves and resources and metallurgical recoveries, mining operational and development risks, litigation risks, regulatory restrictions (including environmental regulatory restrictions and liability), activities by governmental authorities (including changes in taxation), currency fluctuations, the speculative nature of gold exploration, the global economic climate, dilution, share price volatility, competition, loss of key employees, additional funding requirements and defective title to mineral claims or property. Although Goldcorp has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended.

Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results, level of activity, performance or achievements of Goldcorp to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the integration of acquisitions; risks related to international operations, including economic and political instability in foreign jurisdictions in which Goldcorp operates; risks related to current global financial conditions; risks related to joint venture operations; actual results of current exploration activities; environmental risks; future prices of gold, silver, copper, lead and zinc; possible variations in ore reserves, grade or recovery rates; mine development and operating risks; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of development or construction activities; risks related to indebtedness and the service of such indebtedness, as well as those factors discussed in the section entitled “Description of the Business – Risk Factors” in Goldcorp’s annual information form for the year ended December 31, 2011 available at http://www.sedar.com. Although Goldcorp has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Forward-looking statements are made as of the date hereof and accordingly are subject to change after such date. Except as otherwise indicated by Goldcorp, these statements do not reflect the potential impact of any non-recurring or other special items or of any dispositions, monetizations, mergers, acquisitions, other business combinations or other transactions that may be announced or that may occur after the date hereof. Forward-looking statements are provided for the purpose of providing information about management’s current expectations and plans and allowing investors and others to get a better understanding of our operating environment. Goldcorp does not undertake to update any forward-looking statements that are included in this document, except in accordance with applicable securities laws.

Jeff Wilhoit
Vice President, Investor Relations
Goldcorp Inc.
Telephone: (604) 696-3074
Fax: (604) 696-3001
E-mail: info@goldcorp.com
website: http://www.goldcorp.com

Source: http://www.goldcorp.com/English/Investor-Resources/News/News-Details/2013/Goldcorp-Updates-Shareholding-in-Delta-Gold-Corporation/default.aspx

More mining information the US Government and the Canadian mining companies don’t want you to know provided by MIT’s Mission 2016.

Environmental Risks of Mining

Human Rights Violations

Lack of Regulation

Limited Access

Public Awareness

Cost of Inaction

More info for journalists and those not familiar with the current environmental and human rights issues Canadian mining companies are responsible for including, corruption, rape and murder.

Canadian Mining Companies Threaten Arizona’s Water and Land Statewide
http://green.blogs.nytimes.com/2013/02/04/arizona-mining-project-wins-a-key-permit/?_php=true&_type=blogs&_php=true&_type=blogs&_r=1

Time to counter human rights abuses by Canada’s mining companies
http://www.thestar.com/opinion/commentary/2014/05/08/time_to_counter_human_rights_abuses_by_canadas_mining_companies.html

The government of Canada and Canadian mining companies on trial
http://intercontinentalcry.org/government-canada-canadian-mining-companies-trial/

Canadian firms sue Barrick over divisive Pascua-Lama project
http://www.mining.com/canadian-firms-sue-barrick-over-divisive-pascua-lama-project-88378/?utm_source=twitterfeed&utm_medium=twitter

Meet the Woman Taking On Canadian Mining Companies
https://news.vice.com/article/meet-the-woman-taking-on-canadian-mining-companies

Digging up the Dirt on Canadian Mining in Latin America
http://upsidedownworld.org/main/international-archives-60/4874-digging-up-the-dirt-on-canadian-mining-in-latin-america

Canadian mining doing serious environmental harm, the IACHR is told
http://www.theguardian.com/environment/andes-to-the-amazon/2014/may/14/canadian-mining-serious-environmental-harm-iachr

More info
https://commonwealthmine.org/

On the Defense: Commonwealth Silver and Gold Mining explains Pearce project

The following article is written by Hall Stewart, Vice President of Exploration for Commonwealth Silver, and was posted to the Wilcox Range News on Wednesday, May 28, 2014 at 12:00 PM.

All text in black is from the original article in its entirety. Comments below each paragraph in red (Missing Facts) are from the publishers of this website and our friends and neighbors in Pearce, Arizona.

—————————————————————————————————————–

Commonwealth Silver and Gold Mining explains Pearce project

Hall Stewart Commonwealth Silver and Gold Mining, Inc.

This letter in response to your recent article on The Commonwealth Project in Pearce, Ariz.

Canadians

In regard to the concern that Commonwealth Silver and Gold Mining, Inc. is a Canadian entity, please let me introduce myself as one of the founders of the company.  My name is Hall Stewart.  I moved to Tucson as a child from Bowman, ND in 1964.  I have lived most of my life in Arizona, New Mexico, Nevada and the Sierra Madre of Chihuahua, Mexico.  I graduated from The University of Arizona in 1983 and was recognized with the Evans B. Mayo award, 1983 as the University’s top undergraduate field geologist while attending field camp here in Cochise County.  I have hiked and camped extensively in the Chiricahuas, Dragoons, Santa Ritas, Rincons and Santa Catalina mountains.  I’m not Canadian, I’m a southwestern good ol’ boy.

Missing Facts:

  • Hall Stewart was brought into this company by Michael Farrant, Founder, President and CEO of Commonwealth Silver (a Canadian mining company) for the sake of making themselves look less like outsiders in the eyes of the people of Arizona.
  • Hall Stewart has a personal stake in the Commonwealth Mine that is worth “millions of dollars”, and he is willing to serve his Canadian masters at the expense of poisoning our water and destroying our environment.
  • Note that Mr. Stewart did not mention the words “open-pit” or “cyanide” anywhere in this article. However, in his previous statements to the Wilcox Range News, “the company proposes a 100 meter deep open-pit cyanide-leach silver-gold operation.” http://www.willcoxrangenews.com/news/article_82599ba6-cfe6-11e3-ac63-001a4bcf887a.html Very interesting, and important to note, that Mr. Stewart omitted these details in this article.
  • The only thing that is factual in this first paragraph is that Hall Stewart is a “good ol’ boy“. And as we all know by now, the good ol’ boy approach to protecting our water and lands are not acceptable.

I was introduced to the Commonwealth mine by my economic geology professor, John Guilbert, in 1982.  I worked on a drill program at the Commonwealth Project for Glamis Gold Corp in 1991.  In 2009 I was informed that the Commonwealth Project was inactive and could be bought or optioned from the owners.  With two partners I organized Commonwealth Silver and Gold Mining, Inc. in 2010.  We organized the company in Canada because Canada has a regulatory system that oversees mineral exploration companies and Canadian investors are accustomed to taking the high risks associated with finding an economic mineral deposit.  If the majority ownership of the company is Canadian it is because there are few John Waynes left in this country that have the cojones to invest the time, effort and money required to make discoveries and develop them to the benefit of the communities where they are found.

Missing Facts:

  • Hall Stewart claims to have organized Commonwealth Silver and Gold Mining, Inc. in 2010. As previously stated, the company was founded by Michael Farrant, Founder, President and CEO of Commonwealth Silver (a Canadian mining company) and Hall Stewart was brought in to represent the company as an all American “good ol’ boy” venture. To add insult to injury, this Canadian organization has “proudly” raised an American flag on the mines peak, since we have called them out as Canadians.
  • Commonwealth Silver was organized in Canada because they ARE A CANADIAN MINING COMPANY.
  • Canada has a long history of a dysfunctional mining regulatory system that turns a blind eye to environmental and human rights abuses for the sole sake of profit.
  • Canadian mining companies are notorious for ravaging water and lands and leaving the locals to deal with the costly clean up, health problems, and land that is wasted for generations to come. Canadian mining companies are also well-known for corruption, murder, and rape.
  • Hall Stewart’s statement of “there being few John Wayne’s left in America” is insulting to all of us as Americans – and especially to our veterans who are John Waynes’ everyday. How dare Hall Stewart say such a thing…. Are we, the people of Arizona, lacking the “cojones” as Stewart saysto invest the time, effort and money required to make discoveries and develop them to the benefit of the communities where they are found“? No we are not! Open-pit cyanide mining does not resonate “investing the time, effort and money required to make discoveries and develop them to the benefit of the communities where they are found“. How does open-pit cyanide mining in Pearce benefit anyone other than the mining companies, their investors, and Hall Stewart himself?

The millions of dollars we have brought in from foreign investors and the many millions more we plan to bring in are to the benefit of the local community.  The company has and will continue to have a preference for hiring locally.  We have extensively used local contractors wherever possible including Apache Ace Hardware, A&M Pro Contractors, Frei Trucking and Darling Environmental and Surveying.

Missing Facts:

  • The millions of dollars Hall Stewart claims to have brought in from “foreign investors” and the many millions more they plan to bring in DO NOT benefit the local community. There is no benefit in non-sustainable jobs, that result in poisoning our decreasing water supply with cyanide and damaging our land for decades to come.
  • Hall Stewart claims that company has and will continue to have a preference for hiring locally. First of all, they are not hiring anyone as the photo below clearly shows.commonwealth mine jobs
  • Hall Stewart also claims to have extensively used local contractors wherever possible including, Apache Ace Hardware. Go ahead and talk with our friends at Apache Ace Hardware in Pearce, Arizona and ask them about how the Commonwealth Mine has benefited their business….

Cooperation with our neighbors in both Canada and Mexico is the path to a prosperous future for the U.S.A. This is especially true when money is brought in from outside and spent here.

Missing Facts:

  • Economic history proves time and time again, that “cooperation” with our neighbors in both Canada and Mexico leads to lower paying jobs for the American people, and the only people who benefit are the government, large corporations, and their investors.
  • Who does Hall Stewart think he is to tell us what creates a path to a prosperous future for the USA? Is he Bill Gates? Warren Buffett? And where did Hall Stewart study economics??? His propaganda sounds a lot like that of the Bush Administration that put us all in the economic mess we are in now.

History of community service

The Pearce Elementary school was built on land leased to the school by the Commonwealth Mining and Milling Company in 1914. Much of the funding for the original school construction came from the mining company. Our company has continued to support the school donating $5,000 worth of chairs to the school gymnasium.

Missing Facts:

  • The Pearce Elementary School may have been built on land leased to the school by the Commonwealth Mining and Milling Company in 1914. This statement has nothing to do with Hall Stewart and his Canadian mining cronies of Commonwealth Silver.
  • Much of the funding for the original school construction came from the Commonwealth Mining and Milling Company in 1914, which has no relation to Commonwealth Silver of Canada. How dare Hall Stewart, treat the people of Pearce as idiots by trying to make it sound as if the Canadian company he’s working for did such things for our community.
  • Hall Stewart claims that “his” company has continued to support the Pearce Elementary School by “donating $5,000 worth of chairs to the school gymnasium“. Even if this is so…. Why aren’t they doing anything to resolve the high arsenic levels that have made the school’s drinking water undrinkable? If you are currently familiar with the Pearce Elementary School, you KNOW that excessive arsenic levels in the school’s drinking water were not the issue they are now that Commonwealth Silver has restarted operations at the Commonwealth Mine.

In projects I have previously managed, the exploration companies have been very involved with the communities nearby.  In Ocampo Chihuahua the mining company paid to bring the electrical grid into the remote mountain community.  This company also donated a four-year scholarship to the Universidad Autonoma de Chihuahua to one of the local high school seniors.  This young man completed a degree in biology and is now the Manager of Environmental Affairs for the mine.  Who could be a better steward of the local environment than a man raised in those hills?  Another company brought the electrical grid to Palmarejo, Chihuahua.  These towns previously had no electricity.  In Tahuehueto, Durango the area we worked had a tiny village of about 20 houses, none of which had indoor toilets.  The company bought and installed 20 toilets to the appreciation of the local residents, especially the women.  In Motaje, Nayarit the company I managed built a pedestrian bridge over an arroyo in the middle of the town that was impassable during the rainy months.

Missing Facts:

  • Hall Stewart claims that in projects he has “previously managed, the exploration companies have been very involved with the communities nearby“. The fact that very few people in Pearce are even aware of the Commonwealth Mine project being a Canadian operation quickly discredits Stewart’s claim. Furthermore, no one in Pearce has ever heard the name Hall Stewart or Michael Farrant. So much for being “very” involved with our community. If anything, Hall Stewart and Commonwealth Silver are avoiding us at all costs, because they know that the majority of us are not in favor of the long-term environmental damage they want to do to our community.
  • As per Hall Stewart, “In Ocampo Chihuahua the mining company paid to bring the electrical grid into the remote mountain community“. Let’s be honest here, the mining company did this for themselves. Please don’t play the hero with us Mr. Stewart… Exxon could also say that they have done many great things for the people of Alaska. Open-pit cyanide mining in our community, and right next to our elementary school, isn’t that far off from any comparison of Hall Stewart and his Canadian company with Exxon and the extensive health and environmental problems they have caused Alaska and others worldwide.
  • According to Hall Stewart, his Canadian company also donated a four-year scholarship to “one” local high school senior. Very interesting to note that this young man with little experience is now the Manager of Environmental Affairs for the Commonwealth Mine.
  • Hall Stewart also is proud to boast that, “In Tahuehueto, Durango the area we worked had a tiny village of about 20 houses, none of which had indoor toilets. The company bought and installed 20 toilets to the appreciation of the local residents, especially the women“.  What? Please don’t tell us about how you’re helping our communities and pleasing our “women folk” with your great deeds…. This is insulting to all of us!

Barren and low plant diversity

I made a comment to the Willcox Range News that has drawn considerable criticism and for this I apologize.  However, I would like to clarify that the saline soils associated with the Willcox Playa and the arid conditions of the Sulphur Springs Valley do support my comment.  Arizona is the state with the second highest plant diversity of any of the 50 states.  I studied arid lands plants in high school and at the University of Arizona.  When compared with the very high plant diversity of the saguaro-paloverde vegetation community of the Sonoran Desert near Tucson, the Chihuahuan desertscrub/semi-desert grassland of the Sulphur Springs Valley is indeed a low diversity area.  It is not without appreciation for the stark beauty of the area that I made my comment.

Missing Facts:

  • First of all, the people of Pearce do not care about Hall Stewart’s empty apologies. Hall Stewart’s comment to the Willcox Range News that has drawn considerable criticism deserves it.
  • Stewart is correct in stating that Arizona has the second highest plant diversity of any of the 50 states. However, his newest statement, of “When compared with the very high plant diversity of the saguaro-paloverde vegetation community of the Sonoran Desert near Tucson, the Chihuahuan desertscrub/semi-desert grassland of the Sulphur Springs Valley is indeed a low diversity area.” is a complete political spin job by Mr. Stewart for his company and his own financial interests. Cochise county has numerous plants and animals that are already threatened or endangered.

Water

The precise numbers for water use and water source areas will be included in Commonwealth Silver’s pre-feasibility study and Aquifer Protection Permit Application.  I do want to address our current plans in general terms.  Our current technical report or Preliminary Economic Assessment scopes the water-flow rate of the proposed processing plant at 3,000 gallons per minute.  The majority of this water will re-circulate indefinitely.  A small portion of the water, estimated at 15 to 20 percent of the total, may be lost to evaporation.  We are currently planning on pumping 600 gallons per minute from groundwater in the Douglas basin south of Pearce.  This rate of water use is comparable to the annual water required for about 200 acres of alfalfa.  This compares well with the water use rates of our neighbors in the agricultural community.  Our proposed source area in the Douglas Basin is well away from current water users and we expect that the planned hydrological study will show that our pumping for process water will have little or no impact on the area.

Missing Facts:

  • Note that Hall Stewart does not want to address his companies current plans that concern our water in this article. This is a standard Canadian mining company tactic, don’t discuss the truth, and when you do sugar coat it so the local communities won’t know what hit them until it’s too late.
  • Per Hall Stewart, “Our current technical report or Preliminary Economic Assessment scopes the water-flow rate of the proposed processing plant at 3,000 gallons per minute“. If you’re a long time resident of the Pearce area, you know that we are already struggling for water and this will only worsen with this year’s historically dry weather. We cannot afford to share our limited water supply with a Canadian mining company. Would we share our limited water with a Chinese or Mexican company? The answer is a resounding NO!!! So why should we allow Commonwealth Silver to waste our water in the pursuit of riches for themselves and their Canadian investors?
  • Note that 20 percent of water lost to “evaporation” is no small number. What if we lost 20% of our water today due to “evaporation” and the remainder was poisoned with mining chemicals such as cyanide? How does this benefit our community Mr. Stewart? We, and others in our community, welcome any “honest” and open communication with you and your Canadian company.
  • Hall Stewart comparing their “proposed” water use with our neighbors in the agricultural community is unfair. Since this water for our agricultural community produces goods for our farms and ranches. Hall Stewart and Commonwealth Silver on the other hand, wants to use our limited water supply solely for their own personal financial gain.This is unacceptable to the people of Pearce, and we will not quietly stand by while the Commonwealth Mine project lays our water and land to waste.
  • Mr. Stewart’s proposed water source area is in the “Douglas Basin area”, (click to see that this OUR water), this does not make his company’s plan for a 100 meter deep open-pit cyanide-leach silver-gold operation in our community acceptable. We do not want our water and land poisoned.
  • All Canadian mining companies state the usual, and intentional lies of their operations having “little or no impact on the area“. Please define for us Mr. Stewart, how you would use the words, “little or no impact” along with “open-pit cyanide mine” in a sentence. You are welcome to comment on this post.

Silver as a “Green” metal

The mine will produce both silver and gold. Gold is used primarily as a hedge against currency devaluation.  Silver is a high tech metal used in many of the products of the future that will help lessen man’s inevitable environmental impact.  Silver is the principal component of photovoltaic solar panels.  Once manufactured, these panels generate electricity for more than 20 years without further investment or operating cost.  Arizona is an ideal place for solar electrical generation.  Silver is bacteriostatic, that is bacteria cannot reproduce in the presence of silver.  Silver is used in all modern drinking-water filters to prevent bacterial growth.  Silver is also used in electronics, high-tech mirrors, specialized garments, medicines, etc.  Once produced, much silver can be re-cycled indefinitely.

Missing Facts:

  • The economic lesson provided by Hall Stewart, “Gold is used primarily as a hedge against currency devaluation“, is insulting to us as members of the community, and further demonstrates that he and his Canadian mining “partners” believe that we are “weak little men”, and our “women folk” are a bunch of stupid hicks desperately seeking the comfort of a toilet…. Show some respect Mr. Stewart. You are as crass as the Canadian mining company that you serve.
  • Silver is a high tech metal used in many of the products of the future that will help lessen man’s inevitable environmental impact“. Where did Hall Stewart come up with this line? Is he not aware of new materials that are being developed by great minds such as those at MIT? Which Stewart’s Canadian friends may better recognize as the Massachusetts Institute of Technology.
  • As for silver being used for solar panels, Mr. Stewart is simply using this topic to distract us from the fact of his company plans to develop a 100 meter deep open-pit cyanide mine that will poison our water and harm our environment….
  • According to Mr. Stewart, “Silver is used in all modern drinking-water filters to prevent bacterial growth“.  Can his company do anything to protect our water from the cyanide and arsenic they plan on poisoning us with? The Pearce Elementary School could use help with their arsenic problem… So, how can you help our community Mr. Stewart? Short-term jobs at the expense of our environment isn’t going to cut it.

Looking forward

Mining projects are long term projects that provide high-tech jobs.  I invite young people in the community to consider preparing for jobs as geologists, mining engineers, surveyors, machine operators, metallurgists, accountants, human resources professionals, drillers, blasters, truck drivers, crusher operators, environmental technicians, computer scientists and others.  Many rural communities like the idea of their youth being able to find well-paid work close to home.  Wouldn’t it be great if, like at Ocampo, the Manager of Environmental Affairs was a local resident with roots in the community?

Missing Facts:

  • One of our supporters against the Commonwealth Mine has spent over a decade working with leading high-tech companies, including Microsoft and Google and even she doesn’t understand how Hall Stewart and his Canadian mining company are going to produce “high-tech jobs”. Apparently Mr. Stewart doesn’t understand what a high-tech job is, or what his Canadian company is offering. What mining really offers are “basic industry jobs”, not high-tech jobs – and as rule they are for a very short-term – Boom and Bust. Below is the sign, at the main entrance of the Commonwealth Mine, which clearly shows the type of jobs the Commonwealth Mine is pretending to offer, note on the top right of the sign “Basic Industry Jobs”.commonwealth mine
    And again, here is the “REAL DEAL” sign of what they are offering our community….
    No Job for You
  • It is funny that Hall Stewart “invites” young people in our community “to consider preparing for jobs as geologists, mining engineers, surveyors, machine operators“, etc. since his company has no intention of hiring any of us, due to the fact that they want to keep our community in the dark as to what they’re doing at the mine. If you question this statement, go on over to the mine and ask them about the opportunities they have to offer for our “young people”. Or better yet,call Mr. Stewart’s Tucson office and ask about their current employment opportunities at 520-790-1914.
  • Hall Stewart said, “Wouldn’t it be great if, like at Ocampo, the Manager of Environmental Affairs was a local resident with roots in the community?“. Yes, Mr. Stewart that would truly be great, since if he was, he wouldn’t be working for you and your Canadian mining company. Would this young man work to develop a 100 meter deep open-pit cyanide mine in his home town? That’s right…. He wouldn’t.

It is my sincere hope that the community will continue to be supportive of our project and will welcome the economic diversification the mine will bring to the Sulphur Springs Valley.  I have a very positive outlook for the future and welcome the community to share in it.

Missing Facts:

  • Of course it is Hall Stewart’s sincere hope that our community will be supportive of the Commonwealth Mine project, since he will personally make millions of dollars at the expense of our water and land if we all sit by and allow it.
  • Deep open-pit cyanide mines do provide economic diversification that is very short-lived – and result in high costs for our community to clean up after our land is poisoned and left in destruction.
  • Hall Stewart does have a positive outlook for the future of the Commonwealth Mine project and he will tell whatever lies it takes to fool our community into sharing his vision. Don’t be a fool. Stand up and speak out, before the damage is done

Original article source: http://www.willcoxrangenews.com/opinion/editorials/article_d1a82aae-e5fa-11e3-a973-001a4bcf887a.html

More mining information our government and the Canadian mining companies don’t want you to know provided by MIT’s Mission 2016.

Environmental Risks of Mining

Human Rights Violations

Lack of Regulation

Limited Access

Public Awareness

Cost of Inaction

Show your support for fighting corrupt Canadian mining companies in Arizona – Follow Us on Twitter

Poisoning the Lower Class in Pearce, Arizona to Benefit the Rich

Commonwealth Mine, Pearce, Arizona
Homes of friends and neighbors who live along the base of the Commonwealth Mine – which is proudly under development by Commonwealth Silver of Canada into a 100 meter deep open-pit cyanide-leach mine that will poison our people, water, and land.
WE ARE NOT GOING TO STAND FOR THIS… PLEASE JOIN US IN OUR FIGHT.
Click on Image to Enlarge

Let’s be truthful with ourselves… Our government, both Federal and State, are more concerned with increasing profits for corporations and special interests than they are with issues that directly affect the health and welfare of the average American.  This is due to the fact that our government has developed an unhealthy attachment to corporate America and political maneuvering, for their own financial gain. We need to tell people who think they can buy bad policy with money and contributions that we will no longer tolerate it – and we will fight back.

American’s have been forced into a corner to either stand up and fight, or be devoured by the rich and powerful, much like the people of France prior to the French Revolution. Today, we are in a similar position. We have the choice of continuing to have our rights, freedoms, and even our health stripped away for the benefit of common criminals that we have put on pedestals – as our government and corporate leaders.

Much like the French Revolution, it’s time for us to stand up against those that are against the interest of the people. It is time to demand change and to take back our rights. The excessive privileges enjoyed by our governments, corporations, and special interests, at the expense of tax payers and consumers, must be taken away. It’s time that we, as American’s, demand and force change.

As the march on Versailles ultimately forced the royal court back to Paris and the execution of King Louis XVI, we must also stand up and fight oppression. America is no longer a classless society, it has clearly become a nation of rich and poor and the rich have no need for the average American anymore – other than for cheap labor and consumers of their inferior products and reckless policies.

As citizens, we need to tell the abusive powers in our government and corporate world, that we do not support their special interests, we support the interests of the average American. As a nation, we need to stop being seduced into adopting the policies of a narrow group of billionaires who disregard the legitimate interests of millions of Americans and their families.

Our governments need to stop allowing corporations such as Commonwealth Silver of Canada (AKA Commonwealth Silver and Gold Corporation, Commonwealth Minerals, etc.) to recklessly endanger us with their self-serving quests for financial gain through means such as deep open-pit cyanide-leach mining practices.  Deep open-pit cyanide-leach mining practices have been proven to destroy the health of people, water, and the environment. Would Jan Brewer or John McCain allow this to happen in their communities? Of course, not! The rich live in a separate world from the rest of us…

Contact Jan Brewer at (602) 542-4331 and John McCain at (602) 952-2410 and let them know you expect and demand change!

Pearce-Sunsites – AKA Barren Land According to Commonwealth Silver of Canada

Pearce, Arizona

About us, our neighbors, families, and friends…

Sunsites is a town in southern Arizona which is located in the beautiful Sulphur Springs Valley at an elevation of about 4500 feet. The town lies 85 miles southeast of Tucson, and 30 miles southwest of Willcox. The area is known for its bird watching opportunities, and for its historic mining towns.

Commonwealth Mine

View of the Commonwealth Mine at the edge of town.

Sunsites, which was established in 1961, is a relative new town in the area. The town has a medical clinic, a library, a bank, churches, restaurants, gas stations, different stores, and an 18-hole golf course. Sunsites has become popular for people who prefer a quiet and relaxing living. Most of the residents are retired people, but the proximity to towns with a large number of employment opportunities makes Sunsites convenient also for working residents.

Sunsites Arizona

The area offers clean air, and a climate with more than 300 sunny days per year. Average daily high temperatures range from 60 °F in January to 90 °F in July. About 2 miles south of Sunsites, in the beginning of the famous Ghost Town Trail, lies the ghost town of Pearce, which is known for its gold production in the beginning of the 19th century. More than 15 million dollars in gold was produced by the Commonwealth Mine in Pearce. The historic Old Pearce General Store, and other old buildings and ruins from the late 18th and early 19th century, attracts many visitors who like to feel the atmosphere of old times.

Pearce, Arizona

The Commonwealth Mine, homes, and Pearce Elementary School (with the red roof).
Click on image to enlarge.

Another attraction in the area is the Wonderland of Rocks which is a spectacular landscape with amazing rock formations in the Chiricahua National Monument to the east of the Sulphur Springs Valley. The monument is located at high elevations in the Chiricahua Mountains, and offers great opportunities for hiking among rock spires, birds, and other wildlife. To the west of the valley lies Cochise Stronghold which is a woodland area in the Dragoon Mountains. The area was once the home of the Apache Chief Cochise and his folks, and is now a part of Coronado National Forest. Cochise Stronghold offers many recreational activities such as hiking, camping, picnicking, rock climbing, and bird watching.

Within a few years, all of this will simply be a memory, after our water and environment is poisoned with cyanide by the Commonwealth Silver Corp. of Canada.

Commonwealth Mine

The Commonwealth Mine – AKA the future home of “Cyanide Lake”.

Thanks again for NOT being there for the “people” of Arizona John McCain and Jan Brewer. When our loved ones sicken and die from cyanide exposure, we will make sure your names are mentioned on their tombstones for letting it happen…

Commonwealth Mine Jobs in Pearce, Arizona

236
The Commonwealth Silver and Gold Corporation’s sign outside of the Commonwealth Mine in Pearce, Arizona is pretty impressive. This Canadian corporation claims that they are “Bringing Responsible Mining and Basic Industry Jobs to Southeast Arizona”. Wow… That’s what we all want to hear!

Now let’s break this down further… First of all, the “Commonwealth Silver and Gold Corporation” goes by different names depending upon who they’re targeting at any given time. In addition to the name of, “Commonwealth Silver and Gold Corporation”, they reported their company name to the Arizona Range News as, “Commonwealth Minerals”. On LinkedIn, Michael Farrant  the company CEO presents the company name as, “Commonwealth Silver and Gold Mining Inc”. In addition to these name variations, the company calls itself, “Commonwealth Silver” on their website. From a marketing standpoint this is poor branding. However, we believe the variations in names given is more sinister, such as a criminal that uses multiple aliases.

As for providing the communities of Pearce-Sunsites with new jobs, this won’t happen. First of all, they will not bring any new jobs because they don’t want to hire “outsiders” that may tip off what’s really going on at the mine and rattle the EPA or their valued shareholders. Also, no one with a soul would call developing a “100 meter deep open-pit cyanide-leach silver-gold operation” directly across the road from an elementary school “responsible”. If we were to see this happening in a third-world country we would be outraged. However, most third-world countries are prudent enough to not allow a 100 meter deep open-pit cyanide-leach mine to be developed on their soil today, due to the awareness of the dangers open-pit cyanide mining poses to public health and the environment. But we live in Arizona, where individuals and our government officials (such as Jan Brewer and John McCain) foolishly believe that open-pit cyanide mining won’t hurt our people or our environment. Therefore, we are all going to sit and take a wait and see approach until people become sick and our land is poisoned with cyanide. Is this what Commonwealth Silver and Gold Corporation means by “Bringing Responsible Mining and Basic Industry Jobs to Southeast Arizona”?

260
This is the sign you see when you actually get to the entrance of the Commonwealth Mine. Note the words, “Private Property”, “Not Hiring”, and “Authorized Personnel Only”. Where are these “Responsible Mining and Basic Industry Jobs” for Southeast Arizona? If you’re really curious, go ahead and walk through this gate AT YOUR OWN RISK.

If you’re sincerely interested in working for this reckless Canadian corporation, try contacting Hall Stewart, their Vice President via email at hstewart@commonwealthsilver.ca or call him directly on his cell at 520-820-2686 and leave a reply below to let us know what he tells you about the “employment opportunities” his company has to offer…

If you happen to be one of those types that wants to go straight to the top you can contact Michael Farrant, President and CEO via email at mfarrant@commonwealthsilver.ca or call him on his cell at 416-278-4149.

Good luck!

What Others are Saying About the Commonwealth Mine Project in Pearce, Arizona

WE CAN STOP THIS MINING COMPANY FROM LAYING WASTE TO OUR ENVIRONMENT
depleting our water supply, polluting our land with their toxic processing chemicals, destroying our town, our valley, and our beautiful mountain Stronghold.

THE COMMUNITY RIGHTS MOVEMENT IS ONE OF THE MOST EXCITING MOVEMENTS OF OUR TIMES!
http://paulcienfuegos.com/community-rights-movement-and-arc-nonviolent-social-change

150 communities in 9 states have managed to pass ordinances that stop corporations from moving in … they’ve been able to stop natural gas fracking, huge factory farms, and other big business.

Who makes the decisions in your community?
The rights-based model of community action is being called the new frontier of the civil rights struggle, because it is our own state and federal laws that are standing in the way of our right to determine what happens to us in the places where we live. The biggest threat posed by corporations is not the illegal stuff of headlines. The real danger is what big corporations are empowered to do legally, every day, in every community across the country. From water withdrawal to polluting refineries, toxic sludge spreading, GMOs and more, the corporate few wield the law against our communities, endangering our health, safety and the environment.

State and federal law says that corporations don’t need community permission to drop pesticides overhead, or to site a toxic dump next to the school grounds. So who does decide? State agencies issue corporations “permits” and state legislatures routinely “preempt” (usurp) community lawmaking authority on behalf of those corporations. When corporate executives decide to site an unwanted project in our communities, we are told we cannot say “no,” because that would be a violation of the corporation’s Constitutional rights. But we can change that.

This program is providing a framework to transform grassroots organizing to protect people and planet.

Rights of nature – We cannot truly protect the environment if the law continues to see nature as mere property to be exploited at will. Slaves were once property, until we changed unjust law to recognize their rights. We’re at the forefront of a commonsense global revolution for nature’s rights.

Corporate Power & Personhood – Corporations are not people, and should not have the same “rights” afforded to people. Our Community Rights Program seeks to strip corporations of the legal powers and protections (including personhood) used to override the will of the people in our communities.

Restoring Democracy – It’s time to put the “we the people” back into the democratic process. This program provides a legal framework and organizing model for the public to assert their inalienable rights in the place it matters most — where they live. Organizing for Community Rights is the current chapter in the struggle for civil rights.

Posted by people’swaterrights at 11:56 am on Mon, May 12, 2014
http://www.willcoxrangenews.com/news/article_82599ba6-cfe6-11e3-ac63-001a4bcf887a.html

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Having watched a foreign mining company destroy mountains in Montana,( i.e. Pegasus Gold Corp. and the Little Rockies mtns,) and then file bankruptcy as soon as the ore petered out and sticking the tax payers with the clean up bill, I am inclined to oppose this mine.

Yes, the initial economic impact will be welcomed by the local businesses and job seekers, but when things slow down or stop as they eventually will, who picks up the tab? Who is willing to sacrifice their clean drinking water? Do you want this valley to turn into a real desert? Do you want what natural resources that are left to be polluted and unusable? At what price your soul?

Posted by MT Willy at 10:03 am on Fri, May 2, 2014
http://www.willcoxrangenews.com/news/article_82599ba6-cfe6-11e3-ac63-001a4bcf887a.html

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