East Africa Metals Announces a Resource Update for the Adyabo Project, Ethiopia

VANCOUVER, BC--(June 14, 2016) - East Africa Metals Inc. (TSX VENTURE: EAM) ("East Africa" or the "Company") is pleased to announce an updated independent mineral resource estimate for the Adyabo Project in Ethiopia. The recent 40 x 40 metre spaced infill drill program strategically targeted on the core areas of Inferred Resource gold mineralization at Da Tambuk and Mato Bula (Figure 1). A total of 4,029 metres of diamond drilling in 31 holes was completed during the infill campaign.
 
Key highlights of the updated Resource include;
The conversion of 446,000 gold equivalent ounces to the Indicated Resource classification.
 
The gold grade for the Indicated portion of the resource has increased to 3.92 grams per tonne gold, compared with the initial overall Inferred Resource grade of 2.26 grams per tonne gold, an increase of 73%.
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Pure Gold Intersects 31.3 g/t Gold Over 3.7 Metres Including 54.1 g/t Gold Over 2.0 Metres at the McVeigh Horizon, Madsen Gold Project

VANCOUVER, BRITISH COLUMBIA--( June 14, 2016) - Pure Gold Mining Inc. (TSX VENTURE:PGM) ("Pure Gold" or the "Company") is pleased to announce additional drill results from the McVeigh horizon, located on the Company's 100% owned Madsen Gold Project ("Madsen"). Results reported herein represent the final set of results from the initial 16,000 metre program, which is now complete. As previously announced, the Company has begun an expanded exploration program that will include an additional 35,000 metres of drilling. The ongoing work is designed to test and advance new interpretations of near-surface targets in close proximity to the existing mining infrastructure.
 
"Drilling to date indicates that the McVeigh horizon is open for resource expansion along strike and at depth, below historical mining depths of 230 metres," stated Darin Labrenz, President and CEO of Pure Gold. "The opportunity for resource growth at relatively shallow depths is rare in a historic mining project such as this. We believe the McVeigh horizon has similar potential to the parallel Austin horizon which was mined from surface to a depth of 1,200 metres over a two kilometre strike length."
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Arsenal Energy Inc. Announces Sale of Its US Properties

CALGARY, ALBERTA--(May 27, 2016) - Arsenal Energy Inc. ("Arsenal" or the "Company") (AEI.TO)(AEYIF) announces the sale of all its oil and natural gas properties located in the United States for a sales price of US $34 million. Proceeds from the sale have been used to reduce the Company's outstanding bank credit facility. After applying the net proceeds of the sale, Arsenal estimates its current bank debt at approximately $11.7 million. In addition, Arsenal announces that it has entered into a Letter of Intent to sell 250 boe/d of Canadian production for total proceeds of $8.7 million. The transaction is expected to close on or before June 30, 2016. Upon successful completion of this sale transaction, Arsenal will have repaid approximately $70 million of bank indebtedness over an 18 month period.
 
Pro forma, upon successful completion of all the above-noted property sales: (a) Arsenal's production is estimated to be approximately 1,250 boe/d - 85% oil; (b) Arsenal will retain its core Princess, Alberta property as well its Provost and Evi properties; (c) Arsenal's operating costs are estimated at approximately $18.25/boe and royalties are estimated at approximately 17%; (d) based on forward strip pricing and current differentials, Arsenal's netbacks for the remainder of 2016 are estimated to be approximately $15.80/boe; and (e) operating margins are estimated to be approximately $650,000/month. Proven Developed Producing reserves as at December 31, 2015, adjusted for all property sales, are 2.3 MMboe and the Net Present Value discounted by 10% including asset retirement obligations is $26 million. Proven plus Probable reserves as at December 31, 2015, adjusted for all property sales, are 5.2 MMboe and the Net Present Value discounted by 10% including asset retirement obligations is $69.8 million.
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Otonomy Announces Assignment of C Code and Pass-Through Payment Status for OTIPRIO™

SAN DIEGO, May 20, 2016  -- Otonomy, Inc. (OTIC), a biopharmaceutical company focused on the development and commercialization of innovative therapeutics for diseases and disorders of the ear, today announced that the Centers for Medicare and Medicaid Services (CMS) has approved transitional pass-through status and established a new billing code for OTIPRIO™ (ciprofloxacin otic suspension). The code, C9479, will become effective July 1, 2016.
 
“We welcome CMS’s decision to grant pass-through status and assign a new C code for OTIPRIO which can be used for billing in the hospital outpatient and ambulatory surgery center (ASC) settings,” said David A. Weber, Ph.D., president and CEO of Otonomy. “Furthermore, the timing of this assignment early in the launch of OTIPRIO will, we believe, be very helpful in our ongoing efforts to facilitate patient access.”
 
According to a CMS reference article, “C codes are unique temporary pricing codes that were initially established by CMS for the Hospital Outpatient Prospective Payment System (OPPS).
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Terraco to Exercise Spring Valley Royalties and Enters Into US$19,030,000 Strategic Transaction

VANCOUVER, BRITISH COLUMBIA--(May 16, 2016) - Terraco Gold Corp. (TSX VENTURE:TEN)("Terraco" or the "Company") is pleased to announce that it has entered into definitive agreements with Solidus Resources, LLC, a wholly-owned subsidiary of Waterton Precious Metals Fund II Cayman, LP (collectively, "Waterton"), pursuant to which Waterton will acquire 100% of the Company's claims, leases, title and mineral rights proximate to Waterton's Spring Valley gold project in Pershing County, Nevada ("Spring Valley"), including the Company's Moonlight Project located adjacent to the north of Spring Valley but excluding certain royalties held by the Company, (collectively, the "SV Proximal Assets") in exchange for US$7,000,000 in cash (the "Cash Consideration") and a 2% NSR on the SV Proximal Assets (the "Asset Purchase"). Concurrently with the Asset Purchase, Waterton will subscribe for a senior unsecured convertible debenture in the aggregate principal amount of US$12,030,000 (the "Debenture") in TGC Holdings, Ltd. ("TGC Holdings"), a wholly-owned subsidiary of the Company, (the "Debenture Transaction" and together with the Asset Purchase, the "Transactions"). The Debenture will bear 0.05% (five hundredths of one percent) interest per annum, will have a term of five years and may be converted into either common shares of Terraco ("Terraco Shares") at a price of C$0.18 per share, representing a 57% premium to the Company's twenty-day volume weighted average price of $0.1149 as at May 13, 2016, or into shares of TGC Holdings ("TGC Shares").
Read more: Terraco Gold Corp ( TEN )

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