--(www.USEquityNews.com)-- 07/22/2008 - Oil and Gas Exploration industry alert provided by U.S. Equity News. Quaterra Resources Inc. (AMEX:QMM) today announced that it has finalized a Mining Lease with the General Land Office, State of Texas, on 523.746 acres in Culberson County, Texas covering all or parts of three breccia pipes, one of which was drilled in the 1960s and contains significant molybdenum mineralization. The Cave Peak molybdenum prospect, based on a preliminary review of all available data, has excellent geologic potential to contain an economic molybdenum deposit. Historic drilling at the Main pipe has identified a large mineralized system with high grade molybdenum mineralization that is open at depth; two other breccia pipes in the immediate vicinity have not been evaluated. The understanding of molybdenum systems has increased markedly since Union Carbide's work 40 years ago and should sharpen interpretation of both historic and current data.
Lundin Mining Corporation (NYSE:LMC) ("Lundin Mining" or the "Company") is pleased to provide an update on the Tenke Fungurume Copper/Cobalt Project, in Katanga Province, Democratic Republic of Congo. Lundin Mining holds a 24.75% interest in Tenke Fungurume. The project is under construction by operating partner Freeport-McMoRan Copper & Gold Inc. ("Freeport"). Upon completion of this first phase of Tenke development, the mine is expected to produce approximately 115,000 metric tonnes per annum ("tpa") of copper cathode, and 8,000 tpa cobalt. First copper and cobalt production is forecast in the second half of 2009. The copper and cobalt hydroxide plant design and procurement is substantially complete. Cobalt refinery and acid plant design and procurement is advancing. Construction progress has picked up significantly over the last several months since the end of the rainy season, aided by additional construction and logistics management brought in by Freeport from various global mining projects.
Paramount Gold and Silver Corp. (TO:PZG) announces assay results from six additional drill holes at its Cieneguita Project from their strategic alliance with Mexoro Minerals. It is in the same mineralized trend and only 20 km away from Goldcorp's El Sauzal mine, Mexico's largest producing gold mine and adjacent to Paramount's Andrea project. Cieneguita was last in production by Glamis Gold Ltd. between 1995 and 1998 prior to its acquisition by Goldcorp Inc. The qualified person who has reviewed this news release is Dana C. Durgin, M. Sc. Economic Geology. He is a Certified Professional Geologist (CPG #10364) with the American Institute of Professional Geologists, and a Registered Professional Geologist in Wyoming (PG-2886). These samples were assayed by ALS Chemix in Vancouver.
Royal Energy Resources, Inc. (OTCBB: ROYE) announced recently that the initial natural gas flow rate on its Washington County, Oklahoma well project exceeded 500,000 cubic feet of natural gas and 10 barrels of oil per day. This represents the second of a two-well project in Washington County, Oklahoma intended to increase the proven reserves and profitability of the company. Royal Energy owns a 25% working interest in both the well and second developmental wells. Jacob Roth, CEO of Royal Energy stated, "We are pleased with the initial results of both test wells and expect to participate in an additional 8 wells in the area over the next 6 months. We expect both wells that have been drilled to be online and producing revenue for the company by July 1, 2008."
About U.S. Equity News
U.S. Equity News provides information, resources and news services for investors of small-cap, micro-cap and emerging companies. U.S. Equity News distributes RSS news feeds and a free subscription-based newsletter available through its website at www.usequitynews.com.
U.S. Equity News is a financial news distribution service by Equity Solutions, Inc. (www.equityirsolutions.com) that provides a platform for public companies to disseminate important news to key Wall Street interest such as shareholders and new investors. Equity Solutions, Inc. can assist by providing an effective increase in the awareness of a public company's news, development and corporate story through its proprietary network and its financial portal. U.S. Equity News and its affiliates charge each client cash for news distribution and may take an equity position in the companies mentioned herein, please visit the disclaimer at www.USEquityNews.com.
