Gold Briefing: Mining Sector Sees Prosperity - Westminster Resources, Thompson Creek Metals, Agnico-Eagle Mines, Yamana Gold and Kinross Gold

CORAL SPRINGS, Florida, October 18, 2013 /PRNewswire/ --

Market news updates as the gold sector trends upward late this week: Westminster Resources LTD. (OTCQX: WMRSF), Thompson Creek Metals Company Inc. (NYSE: TC), Agnico-Eagle Mines Limited (NYSE: AEM), Yamana Gold Inc. (NYSE: AUY) and Kinross Gold Corporation (NYSE: KGC).

Westminster Resources, Ltd. (OTCQX: WMRSF) reports that its field crews have made a discovery (the ìSierra Targetî) on its 100% owned El Cobre property Sonora, Mexico. The new Sierra Target consists of hydrothermal breccias, with diatreme characteristics and occurs in Miocene volcanic units at an elevation of some 700 meters above, and further to the East of Westminsterís Montoso porphyry system currently being explored under option by Capstone Mining Corp. Seventeen hand samples were collected and assayed using various ore grade methods which determined an average grade of 4.8% copper, 101 g/t silver (400 g/t cutoff) and 4.4 g/t gold. The slabbed rock samples contained no obvious sulphides but were rich in barium and iron (hematite ranging from about 3% to 12% Fe). The accompanying table shows the highest contents of silver assayed 1,479 g/t (47.4 oz/t), gold 21.79 g/t (0.69 oz/t) and copper 10.2% with these values reported from 3 different samples. These breccias also appear to be rich in bismuth, mercury and tungsten and represent a new deposit type for the Company's Sonora properties. See http://www.westminsterres.com/s/El_Cobre_Property.asp?ReportID=607894

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Continued WMRSF news:  The steeply dipping breccias appear to be in a fluidized zone where crackle, jigsaw and rock flour cemented matrix textures are present. The variable nature of the clasts is very evident as some are green colored with malachite or chrysocolla while other samples without significant copper oxides also contain high percentage grades of copper. Two separate exposures about 150 meters apart were likely explored in the 1950s by hand mining for the high-grade silver in brecciated material.

Thompson Creek Metals Company Inc. (NYSE: TC) recently announced that the Company's new Mt. Milligan mine commenced production of copper-gold concentrate in September 2013. Concentrate is being accumulated and stored at site until the Company commences transportation for off-site treatment and refinement. Transportation and sale of concentrate are expected to commence in the fourth quarter. Since commencement of production, the mill has produced approximately 500 tonnes of saleable concentrate having a specification of approximately 25% copper and 30 grams per tonne gold. During the present phased start-up of the mill, the throughput rate is 1,500 to 2,000 tonnes per hour. 

Agnico-Eagle Mines Limited (NYSE: AEM), through its subsidiaries, engages in the exploration, development, and production of mineral properties in Canada, Finland, and Mexico. It primarily explores for gold, as well as silver, copper, zinc, and lead. The company's flagship property includes the LaRonde mine located in the Abitibi region of Quebec. As of December 31, 2012, the LaRonde mine's estimated proven and probable mineral reserves included approximately 4.2 million ounces of gold. It has exploration activities in Canada, Europe, Latin America, and the United States. 

Yamana Gold (NYSE: AUY) will release its third quarter 2013 results after market close on October 29, 2013 followed by a conference call and webcast on October 30, 2013 at 9:00 a.m. ET.  The conference call replay will be available from 2:00 p.m. ET on October 30, 2013 until 11:59 p.m. ET on November 15, 2013.

Kinross Gold Corporation {NYSE: KGC) is pleased to announce that commercial production has begun at Dvoinoye, a high-grade, low-cost underground gold mine located in Russia's Chukotka region. Dvoinoye is located approximately 100 kilometres north of Kinross' Kupol mine. Its ore will be processed at the existing Kupol mill, providing additional, low-cost production. At peak production, Dvoinoye is expected to produce 1,000 tonnes of ore per day, which will be transported to Kupol via an all-season road. The Kupol mill has been expanded from 3,500 to 4,500 tonnes per day to process the additional Dvoinoye ore.

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