The accumulation of silver by the iShares Silver Trust (SLV) has been steadily increasing since early 2008 in spite of declining silver prices beginning in August through October. SLV silver holdings and the price of silver moved upward in mid-January. SLV silver holdings peaked on June 1, 2009 with a record 276,770,893 ounces. As of June 4, 2009 these holdings stand at 276,670,924 ounces as the silver price climbed above $15.00 per ounce.

June 1, 2009: Aurizon Mines Ltd. (AZK) updates exploration progress at its Casa Berardi mine in northwestern Quebec. During the 1st quarter underground exploration was centered on the development of an underground exploration drift at the 810 meter level, east of Zone 113 and south of the Casa Berardi fault. The exploration drift will provide access to test the depth extension of Zone 113 and to test the continuity and extensions of Zone 118 to 122 and 123-South. To date 1,091 meters of drifting has been completed, providing drill access 500 meters east of the production shaft. Drilling in vicinity of Zone 113 has confirmed the geological interpretation and has deepened the favorable gold trend by 100 meters. To date 19 underground holes totaling 5,695 meters have been completed. Refer to the press release for details of the drilling.

June 1, 2009: Aurizon Mines Ltd. (AZK) reported the discovery of two new mineralized trends at its Joanna project, located 12.5 miles east of Rouyan-Noranda in northwestern Quebec while completing a 27 drill-hole program of approximately 30,000 feet. The newly discovered trends parallel the Heva-Hosco gold trend, one to the north (Joanna North), and the other to the south (Joanna South). Drilling at Joanna North consisted of 4-two-hole cross sections located approximately 1,100 feet north and aligned parallel to the Cadillac Break. The western holes located a continuous 131 foot wide fault zone with sulfides. The best interval included approximately 10 feet assaying 0.198 ounces per ton gold. Five holes drilled at Joanna South intersected 30 to 65 foot wide anomalous gold concentrations with one 15 foot interval assaying 0.087 ounces per ton gold. Refer to the press release for details of this recent drilling.

June 1, 2009: Claude Resources Inc. (CGR) announced that it has completed its offer to purchase a portion of the outstanding 12% Senior Secured Debentures of the company that was previously announced on April 20, 2009. The Offer to Purchase consisted of an offer from the company to each holder of Debentures to purchase 58% of the Debentures owned by such Debenture holder at a price equal to 100% of the principal amount of each Debenture, plus accrued and unpaid interest to June 1, 2009. CGR reports that 46% of Debenture holders accepted the purchase offer. CGR purchased these Debentures for $8,257,000.

June 1, 2009: New Gold Inc. (NGD) and Western Goldfield Inc. (WGW) announced completion of their previously announced business combination by a Plan of Arrangement (POA). Pursuant to the POA, NGD acquired all of the outstanding shares of WGW for consideration consisting of one common share of NGD, and C$0.001 for each outstanding common share of WGW. All of the valid WGW stock options effective at the time of the POA were replaced by options to purchase common shares of NGD. Pursuant to the POA, 143 million NGD common shares were issued to the former WGW shareholders. There are now 356 million outstanding common shares of NGD.

June 2, 2009: Apollo Gold Corp. (AGT) announced the pouring of the first gold bars at the Black Fox mine in Ontario during the last week of May. The company reported the pour totaled 3,300 ounces of gold dore, which contained approximately 3,000 ounces of gold. During the month the Black Fox mill averaged 800 tonnes (882 tons) per day during the first week, 1400 tonnes (1544 tons) per day during the second week, and averaged 1500 tonnes (1,654 tons) per day over the remainder of the month. Once the new crushing circuit is commissioned, mill throughput is expected to reach a planned 1800 tonnes (1,985 tons) per day by late September 2009.

June 3, 2009: Eldorado Gold Corp. (EGO) announced that it has purchased a 20% stake in Sino Gold Mining Ltd. for $282 million. EGO purchased this position from Gold Fields Ltd. (GFI). Sino Gold is an Australian-based company that is one of the largest foreign gold producer in China. Under terms of the purchase agreement, EGO has acquired approximately 58 million shares of Sino Gold. In exchange for the Sino Gold shares, GFI will acquire approximately 28 million shares of EGO (48 shares of EGO for each 100 shares of Sino Gold).

June 3, 2009: Endeavour Silver Corp. (EXK) announced that it has acquired an option to purchase the El Porvenir Cuatro properties which are located approximately 1.5 miles northwest of EXK's operating Porvenir silver mine in Durango, Mexico. The El Porvenir Cuatro and Las Brisa properties adjoin EXK's  El Porvenir Dos property and cover an additional 2,200 feet of strike length along the Santa  Cruz vein system. The Santa Cruz vein on Porvenir Cuatro consists mainly of quartz-calcite +/- barite vein with manganese oxides and fine disseminations of argentitie. In places the main vein splays into two or three sub-parallel mineralized structures. The small, historic Serrano mine situated on the vein was developed by a 425 foot adit and drifts on two levels. Sampling by EXK in the upper drift produced zones of silver with values up to 8 ounces per ton silver and 0.032 ounces per ton gold over a 3.25 foot vein width. EXK acquired the option by paying $100,000 in cash and issuing 136,054 shares of EXK common stock EXK can earn a 100% interest by issuing $400,000 worth of common stock within 24 months. EXK has mobilized a drill rig to the site to initiate a 6 hole, 4,900 foot drilling program this month.

June 3, 2009: New Gold Inc. (NGD) reported that based on the recently completed business combination with Western Goldfield Inc. (WGW), that was completed on June 1, 2009, the common shares of WGW will be de-listed from the Toronto Stock Exchange effective at the close of business on June 4, 2009. NGD's transfer agent, Computershare Trust Company, will begin to issue NGD shares in exchange for all WGW shares in connection with the agreed Plan of Arrangement.

Paid Subscriber's Resources. Lihir Gold Ltd. (LIHR) has been added to the list of InsideMetals Gold Producer Stocks. The Business Summary for LIHR has been added to the website to reflect operating and financial results for the first quarter of 2009.

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