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Coeur d’Alene Basin Litigation

Vanadium Values Well Above Expectations

Hand-held XRF analysis of the trench sample material is yielding vanadium values well above expectations, both in grade and width. The XRF units being deployed in the field are state-of-the-art exploration tools that are currently used for accurate, in-the-field analysis of rocks and soils thus allowing the Company to more readily focus its attention on anomalous trends without having to wait for assay/analytical results from commercial laboratories. All anomalous samples are being sent to a commercial laboratory for subsequent verification of vanadium values. quartzite crusher

Uranium Star intends to carry out an extensive drill program later this year, which will be greatly facilitated by the current trenching program. The resulting drill program will provide compliant resource statements which will ultimately be incorporated into a 43-101 feasibility level study.

Coeur d’Alene Basin Litigation

The negotiators representing Hecla, the United States, the Coeur d’Alene Indian Tribe, and the State of Idaho with respect to the Coeur d’Alene Basin environmental litigation and related claims have reached an understanding on proposed financial terms to be incorporated into a comprehensive settlement that would contain additional terms yet to be negotiated. iron ore crusher

“Determining the financial terms of any settlement of this longstanding litigation is an important step forward in finally resolving this dispute,” said Mr. Baker. “While the cost is significant, we believe the terms are consistent with both our current plans and adding opportunities that will allow Hecla to grow further. We hope a final settlement can be achieved by the end of the second quarter.”

Coalcorp Mining Inc. announces that it has entered into an agreement with Formation Metals Inc. for the prepayment by Formation of the 12% unsecured convertible debenture in the principal amount of $8 million issued by Formation to Coalcorp on May 6, 2010 (the “Debenture”). Currently, the principle amount outstanding on the debenture is $7 million, and Coalcorp holds 795,638 of Formation common shares. Pursuant to this agreement, Coalcorp will surrender the Debenture to Formation upon receipt of approximately $9.33 million in cash and 400,000 common shares in the capital of Formation (“Formation Shares”). The prepayment and surrender of the Debenture is subject to certain conditions, including the completion of Formation’s previously announced public offering of Formation Shares by Formation and regulatory approval. The closing of the transaction is expected to occur on or about March 15, 2011. gold crusher