SRGE Southridge Enterprises Inc (CE)

BREAKING NEWS ALERT: Monday morning, before the market opened for trading, Southridge Enterprises Inc. (PINKSHEETS: SRGE) announced the company signed a Letter of Intent (LOI) with San Dimas Mineria S.A. to acquire a 100% interest in the El Horconcito Gold Mine, in the state of Durango, Mexico. El Horconcito is located in the San Dimas mining municipality of Durango, close to the Sinaloa border.

"Southridge's goal is to continue to establish our footprint within the Sierra Madre gold belt and to acquire world class precious metals assets. We feel that El Horconcito is an excellent opportunity and has the potential to be a significant gold and silver deposit in the San Dimas region," stated Michael Davies, President and CEO of Southridge Enterprises Inc.

Part of the prolific Sierra Madre Occidental gold belt, the world's largest epithermal precious metals belt, San Dimas is home to several world-class mining operations. Historical production in the San Dimas mining region is estimated to be over 11 million ounces gold and 582 million ounces of silver.

Currently within the region, Primero Mining (NYSE: PPP) operates the San Dimas Mine, a producing gold and silver asset that was purchased from Goldcorp in 2010. The San Dimas Mine has probable reserves of over half a million ounces of gold and 31.8 million ounces of silver. Southridge Enterprises currently holds four other mineral properties in Mexico, the past producing and flagship property Cinco Minas, Gran Cabrera, Los Compadres and La Esperanza.

Read the entire SRGE press release announcing the expanded exploration program at Cinco Minas along with our full disclosure: http://wallstreetinvestornews.com/southridge-signs-letter-of-intent-to-purchase-el-horconcito-gold-mine/

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Primero Mining Corp. (NYSE: PPP) has recently reported a strong start to 2012, delivering record gold and silver production since acquiring San Dimas and pinpointing a high-grade discovery in the Sinaloa Graben.

Chesapeake Energy Corp. (NYSE: CHK) shot up this morning in the premarket after the earlier report that Carl Icahn will disclose a "significant stake" in the company and word of a timely helping hand from Goldman Sachs..

Sunbelt International Inc. (PINKSHEETS: SUNB) - announced this morning that a letter of intent has been signed to secure a multi-million dollar construction project in the central plateau region of Tanzania.

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