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Goldcorp Announces Significant Increase to Reserves at Penasquito and Initial Resource Estimate at Eleonore

VANCOUVER, BRITISH COLUMBIA, Jun 25, 2007 (MARKET WIRE via COMTEX) -- (All figures are in US dollars unless stated otherwise)
Goldcorp Inc. (CA:G) (GG: goldcorp inc new com) today announced updated reserve and resource estimates for two of the Company's key projects-Penasquito in Zacatecas, Mexico and Eleonore in Quebec, Canada. The Company today also released drilling results subsequent to the calculation of reserves and resources at Penasquito and Eleonore and updated development progress at both properties as well as the Los Filos mine in Guerrero State, Mexico.

Updates on Previous Picks

Goldcorp (GG): The short was entered at $25, with an adjusted buy stop of $25.15. Drop that stop to $24.55.

Goldcorp Announces Penasquito Reserve Increase >GG
Goldcorp Inc. (GG) announced a significant increase to reserves at its Penasquito project in Zacatecas, Mexico and released an initial resource estimate for the Eleonore project in Quebec.

Jun 25, 2007 (Dow Jones Commodities News via Comtex) -- DOW JONES NEWSWIRES
Goldcorp Inc. (GG) announced a signiciant increase to reserves at its Penasquito project in Zacatecas, Mexico and released an initial resource estimate for the Eleonore project in Quebec.
The Vancouver gold mining company said proved and probable gold reserves at Pensaquito are up 31% to 13 million ounces, while proven and probable silver reserves are up 50% to 864 million ounces.
Measured and indicated gold resources at Pensaquito, including proven and probable reserves, increased 39% to 17.8 million ounces. Measured and indicated silver resources increased 55% to 1.3 billion ounces.
Proven and probable lead and zinc reserves both increased 60% at the Mexico project.
At the Eleonore project in Quebec, Goldcorp reported an initial indicated gold resource of 1,834,900 ounces at an average grade of 7.4 grams per metric ton. Initial inferred gold resource totals 929,100 ounces at an average grade of 7.1 grams per ton, it said.
Goldcorp also said "high grade drill results outside resource point to significant expansion potential" at Eleonore.
At the Los Filos mine in Mexico, Goldcorp said the first gold pour was completed on June 15 and the project is on track for commercial production during the fourth quarter.

Goldcorp Inc. (GG: goldcorp inc new com) announced a signiciant increase to reserves at its Penasquito project in Zacatecas, Mexico and released an initial resource estimate for the Eleonore project in Quebec. The Vancouver gold mining company said proved and probable gold reserves at Pensaquito are up 31% to 13 million ounces, while proven and probable silver reserves are up 50% to 864 million ounces. Measured and indicated gold resources at Pensaquito, including proven and probable reserves, increased 39% to 17.8 million ounces. Measured and indicated silver resources increased 55% to 1.3 billion ounces.

Goldcorp increases reserve estimates at Penasquito - MarketWatch

Goldcorp sets initial resource estimate at Eleonore - MarketWatch

BILLINGS, Mont., June 29, 2007 /PRNewswire-FirstCall via COMTEX/ -- Stillwater Mining Company (SWC: SWC) reported that it is continuing its meetings and negotiations with the USW International Union for a new labor agreement. During this period of negotiation, the parties have agreed to extend the expiration of the existing agreement until 12:01 a.m. on Wednesday, July 11, 2007. In the meantime, operations continue as normal.
Although, the company and the union are working hard to achieve a timely renewal of the agreement satisfactory to both parties, there can be no assurances that such a renewal will be made on a timely basis. If an agreement is not reached, the company's ability to continue its normal operations could be affected.
Stillwater Mining Company is the only U.S. producer of palladium and platinum and is the largest primary producer of platinum group metals outside of South Africa and the Russian Federation. The Company's shares are traded on the New York Stock Exchange under the symbol SWC. Information on Stillwater Mining can be found at its Website: http://www.stillwatermining.com.

BILLINGS, Mont., June 28, 2007 /PRNewswire-FirstCall via COMTEX/ -- STILLWATER MINING COMPANY (SWC: SWC) and USW International Union, Local 1 announced that the union's membership had rejected the tentative settlement between the parties regarding the union contract for the company's Stillwater Mine and processing facilities.
The company and the union have been in discussions since May 4, 2007 regarding the contract, which is due to expire at 12:01 am on July 1, 2007. The company and the union have agreed to a new round of negotiations commencing on June 28. Operations currently continue as normal.
Although, the company and the union are working hard to achieve a timely renewal of the agreement satisfactory to both parties, there can be no assurances that that such a renewal will be made on a timely basis. If an agreement is not reached, the company's ability to continue its normal operations could be affected.
Stillwater Mining Company is the only U.S. producer of palladium and platinum and is the largest primary producer of platinum group metals outside of South Africa and the Russian Federation. The Company's shares are traded on the New York Stock Exchange under the symbol SWC. Information on Stillwater Mining can be found at its Website: http://www.stillwatermining.com.

Pacific North West Capital Corp. - Phase II Nickel Acquisition, Saskatchewan - New Project Acquired Adjacent to Nickel Plats
--------------------------------------------------------------------- - Acquisition of historical Nickel Deposit - PFN expanding Nickel & PGM Divisions - 4,000 meter drill program in progress adjacent to Xstrata Nickel's Montcalm mine, Timmins, Ontario - Aggressive acquisition phase nickel/platinum group metals --------------------------------------------------------------------- TSX: PFN OTCBB: PAWEF Frankfurt: P7J

Stillwater Mining Company (SWC: Stillwater Mining Company) , the largest producer of palladium and platinum in the Western hemisphere, recently purchased an initial 11% of PFN and has followed its position in two recent financings and currently has approximately 10% of the PFN.
PFN and Stillwater have entered into a non-binding Letter Agreement pertaining to ongoing exploration of the Goodnews Bay Platinum Project. The Letter Agreement also provides for Stillwater to fund reconnaissance on other Alaskan PFN exploration projects with the provision for Stillwater to enter into an option/joint venture agreements on the Goodnews Bay Project and 1 or more of the reconnaissance projects in Alaska.
Under the terms of the Letter Agreement, Stillwater will spend $4 million to earn 50% of GBPP by December 31, 2010. Stillwater may elect to increase its interest to 60% by incurring an additional $8 million in exploration expenditures within an additional two year period or upon completion of a Feasibility Study, whichever occurs first. Stillwater may increase its interest to 65% by arranging for 100% of the project financing required to place the Property into Commercial Production within an additional three years.
Under the Reconnaissance portion of the Letter Agreement, Stillwater will expend $500,000 in 2007 which will allow it to inspect several of PFN's proposed projects. In event Stillwater elects to continue participating in one or more projects, they will automatically be able to enter into one or more agreements identical to the Goodnews Bay. Pacific North West Capital is the project operator.

DENVER, Colo., JUNE 28, 2007 /PRNewswire-FirstCall via COMTEX/ -- ROYAL GOLD, INC. (RGLD: Royal Gold Inc) (CA:RGL) , the world's leading precious metals company, today announced that ongoing exploration and development drilling by Goldcorp Inc. ("Goldcorp") at the Penasquito project in Zacatecas, Mexico has allowed Goldcorp to update its reserve estimate of 13 million contained ounces of gold and 864 million contained ounces of silver. These new reserve estimates reflect a 31% and 50% increase in gold and silver reserves, respectively, over the June 2006 reserve update. Goldcorp also announced that proven and probable lead and zinc reserves both increased 60%. Royal Gold holds a 2.0% net smelter return ("NSR") royalty on all metal production from the Penasquito project. Tables displaying updated royalty reserves (Table 1) and additional mineralization (Table 2) are presented at the end of this release.
Tony Jensen, Royal Gold's President and Chief Executive Officer, commented, "As we anticipated when we acquired this royalty in January, this project has exhibited great upside potential with the possibility of further reserve growth over time. We are very pleased with our investment in this royalty property and the potential future revenue impact from these expanded reserves. The Penasquito royalty will be a cornerstone asset in our portfolio over much of the next two decades."
In addition to the updated reserve information, Goldcorp stated that construction progress at Penasquito remains on schedule for initial heap leaching of oxide ore during 2008 and start-up of the first milling and flotation circuit by late 2009. Goldcorp is also analyzing the potential for an expansion in the mill throughput from 100,000 tonnes per day to 130,000 tonnes per day to accelerate the production profile. Goldcorp also reported that nine core rigs are active on the property with a drilling campaign in progress to test the extent of a new high grade zone and define additional mineralization which may be mineable by underground methods concurrent with open pit operations.
Royal Gold is a precious metals royalty company engaging in the acquisition and management of precious metal royalty interests. Royal Gold is publicly traded on the NASDAQ Global Select Market under the symbol "RGLD," and on the Toronto Stock Exchange under the symbol "RGL." The Company's web page is located at http://www.royalgold.com.

TORONTO, ONTARIO, Jun 26, 2007 (MARKET WIRE via COMTEX) -- IAMGOLD Corporation ("IAMGOLD" or "the Company") (CA:IMG) (IAG: iamgold corp com) (BSE: IAMGOLD) is pleased to announce the appointment of Carol T. Banducci as the Chief Financial Officer ("CFO") effective July 3, 2007. Ms. Banducci brings more than 15 years of senior financial management and leadership experience in multi-divisional and multi-facility environments, and will join IAMGOLD after driving financial improvement and integration initiatives of a leading building products manufacturer. Ms. Banducci will take responsibility for the strategic direction and leadership of the finance group as a result of the retirement of current CFO, Grant Edey.
Grant Edey joined IAMGOLD in 2003 as part of the merger with Repadre Capital, where he was VP Finance and CFO beginning in early 1996. Mr. Edey will retire in August 2007 after a period of transition with Ms. Banducci.
"Grant has been a great asset for the Company. I thank Grant, on behalf of the Company and Board of Directors, for his outstanding service and contribution to IAMGOLD," commented Joseph Conway, President & CEO. "I also welcome Carol to our team. Her leadership and new perspective will further enhance the Company's management depth and I look forward to her contribution."

Iamgold names Carol T. Banducci as CFO, effective July 3 - MarketWatch

RENO, Nev., Jun 28, 2007 (BUSINESS WIRE) -- Meridian Gold Inc. ("Meridian Gold" or the "Company") (CA:MNG: news, chart, profile) (MDG: Meridian Gold Inc) notes the announcement by Yamana Gold Inc. ("Yamana") that it intends to make an offer to acquire 100% of the outstanding shares of Meridian Gold. No formal offer has yet been commenced. In the same announcement, Yamana also indicated that it has entered into a business combination agreement with Northern Orion Resources Inc. which is conditional upon the acquisition of 66 2/3% of the shares of Meridian Gold by Yamana.
The Board of Directors of Meridian Gold will consider this announcement as well as any formal offer actually made. Until the Company completes its review, it will not comment further or speculate as to any future course of action it might take.
Goldman, Sachs & Co. and BMO Capital Markets are acting as financial advisors to the Company. Canadian legal counsel to the Company is Fraser Milner Casgrain LLP.
About Meridian Gold
A unique mid-tier gold producer, with world-class mining operations in Chile and Nevada and a pipeline of promising exploration projects throughout the Americas, Meridian's success to date has been based on grassroots gold discoveries and a low-cost strategy, resulting in a better approach to adding value and balancing growth. Meridian strives to be "The Premier Value Gold Mining Company," while building a better future for all of its stakeholders.

Elsewhere, the urge to merge seems to have hit the mining patch again, as Yamana Gold (AUY) says it has agreed to combine with Northern Orion (NTO). At the same time, those two want to add Meridian Gold (MDG) to the merger.

Under the proposed deal terms, Northern Orion shareholders would receive 0.543 shares of Yamana per share, while owners of Meridian stock would get 2.235 Yamana shares plus about $2.94 in cash per share. Failure of Yamana to acquire at least two-thirds of Meridian would cancel the plans to acquire Northern Orion.

Jun 28, 2007 (Dow Jones Commodities News via Comtex) -- DOW JONES NEWSWIRES
Meridian Gold Inc. (MDG) said its board will review the announcement by Yamana Gold Inc. (AUY) that it plans to make an offer to acquire Meridian.
The Reno, Nev., mining company said no formal offer has been made by Yamana, and Meridian won't comment further on the situation until it completes its review.
Yamana on Wednesday said it has entered an agreement to combine with Northern Orion Resources Inc. (NTO), in a deal that is contingent upon Yamana's purchase of two-thirds of Meridian's shares.

LONDON, Jun 28, 2007 (Dow Jones Commodities News via Comtex) -- Edited Press Release
Yamana Gold INC. and Northern Orion Resources Inc. Thursday announced that they have entered into a business combination agreement and a concurrent proposal has been made to Meridian Gold Inc. with respect to the combination of the three companies.
The contemplated terms for the three-way transaction are as follows:
Meridian shareholders would receive 2.235 of a Yamana share plus C$3.15 in cash which, based on Yamana's closing share price of C$13.02 on June 27, 2007, equates to total consideration of C$32.25 per share.
The cash and share consideration represents a spot premium of approximately 23% over Meridian's closing share price on June 27, 2007, and a premium of approximately 24.4% based on the 20-day average closing price.
Northern Orion shareholders would receive 0.543 of a Yamana share which, based on Yamana's closing share price on June 27, 2007, equates to a value of C$7.07 per share. Holders of Northern Orion warrants and other convertible securities will be entitled to receive, or will receive a security in exchange that will entitle them to receive, on exercise 0.543 of a Yamana share in lieu of a Northern Orion share and otherwise on the same terms as the original security.
The share consideration represents a spot premium of approximately 21.3% over Northern Orion's closing share price on June 27, 2007, and a premium of approximately 28.3% based on the 20-day average closing price.

SAN FRANCISCO (MarketWatch) -- Shares of Meridian Gold Inc. (MDG: Meridian Gold Inc) (CA:MNG: meridian gold inc com) rallied in Thursday morning trade, jumping 17% to $28.55, after Yamana Gold Inc. (AUY: yamana gold inc com) (UK:YAU: yamana gold inc com npv) offered to acquire the company. Reno, Nev.-based Meridian said it will review any formal offer after it is made. Toronto-based Yamana said it has entered into a combination agreement with Northern Orion Resources Inc. (NTO: northern orion res inc com) and a proposal has been made to Meridian regarding a merger of the three companies. Under the proposed combination, Meridian shareholders would receive 2.235 of a Yamana share plus C$3.15 in cash, for a total consideration of C$32.25 per share. Northern Orion shareholders would receive 0.543 of a Yamana share, for a total value of C$7.07 per share. Yamana has agreed to acquire all of Northern Orion's shares, subject to the requirement that Yamana acquire at least 66.6% of Meridian's shares. Yamana added that if it can't reach an agreement with Meridian, Yamana and Northern Orion plan to launch an offer acquire 100% of the company's stock. End of Story

Apollo Gold Announces Timing of the Release of Updated Ore Reserve and Resource Information for its Black Fox Project

DENVER, Jun 29, 2007 (BUSINESS WIRE) -- Apollo Gold Corporation ("Apollo") (AGT: apollo gold corp com) (CA:APG) is pleased to announce that an updated Canadian National Instrument 43-101 compliant ore reserve and resources for the Black Fox Open Pit and Underground Project has been completed by SRK Consultants, Denver, Colorado, as of June 29, 2007. A press release updating the market on the reserves and resources as well as the project, pre-feasibility level, and financial economics will be released on Monday morning July 2, 2007, pre-market open.
Apollo Gold Corporation
Apollo is a gold mining and exploration company which operates the Montana Tunnels Mine, which is a 50% joint venture with Elkhorn Tunnels, LLC, in Montana, the Black Fox advanced stage development project in Ontario, Canada, and the Huizopa project, an early stage exploration project in the Sierra Madres in Chihuahua, Mexico.
This press release has been reviewed and approved for release by Richard Nanna, Professional Geologist, Apollo's Senior Vice-President, Exploration and Development and designated "Qualified Person" under NI 43-101.

JOHANNESBURG (MarketWatch) -- South Africa's Chamber of Mines, negotiating biennial wage agreements on behalf of the country's top gold producers, will make a new offer to trade unions when talks resume July 2, one of the unions said.
Solidarity and the National Union of Mineworkers this week declared a dispute with the gold producers after the Chamber declined to make a wage offer during the first round of negotiations.
"This dispute, which may lead to a strike, has now been suspended until the conclusion of the talks in July," Andre van der Merwe, Solidarity's mining general secretary, said in an e-mailed statement Thursday.
"Events on the first day of the negotiations proved that a tough negotiating season lies ahead for the gold mining industry. We have decided to hold off on the dispute as a sign of our commitment to a negotiated settlement," Van der Merwe said.
Solidarity added that it is nevertheless a fact that its members are anxious.
It said the rand gold price went up by 65% over the past two years. Technical analysts expect an upward movement in shares. The demand for gold currently exceeds supply and a report by PricewaterhouseCoopers found that no end is in sight for the increase in commodity prices. This has raised the expectations of employees.
The union added that on the other hand, there is increased price pressure on workers. The inflation rate stands at 6.3% at present and expectations are that these high levels will be maintained and may even climb slightly. The inflation rate for workers is even higher, due to the high inflation rates for food, medical care, transport and housing, which negatively affects the disposable income of workers. Worker inflation is currently calculated at between 8% and 9%.
The combined pressure brought about by the expectations of the workers in view of the industry's performance and inflationary pressure on workers creates a climate for tough negotiations.