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Source Exploration, Blue Note, Critical Elements, Cadillac Ventures, Automodular Corporation news briefs

Contributed by eResearch

By Bob Weir

Source Exploration announced that its wholly-owned Mexican subsidiary, Roca Verde Exploration de Mexico, has signed an option agreement with Empresa Minera Caprice, JC, S.A. de CV to acquire up to a 100% interest in its Capricho mineral exploration concessions (high-grade gold and silver mineralization) in Sinaloa, Mexico.

Blue Note and Critical Elements have agreed to extend the term of the binding agreement providing for the acquisition by Blue Note of all of Critical Elements’ interests in the Croinor gold project near Val-d’Or, Quebec.

Critical Elements has announced that, based on the robust PEA on its 100%-owned Rose lithium-tantalum project in Quebec (published December 21, 2011), the Company has decided to bypass prefeasibility and start the feasibility study immediately. The Company is engaged in the tendering process for the various aspects of the feasibility study.

Cadillac Ventures has published results from the first eight holes of 28 drilled on the K1-1 open-pit project at the Company’s Thierry mine property in northwestern Ontario. Highlights include 110 feet of 0.626% Cu (Hole KH-11-21) and 87.5 feet of 0.546% Cu (Hole KH-11-19). Once all of the assays are received, Cadillac will be updating the initial K1-1 resource statement.

Automodular Corporation has increased its dividend from $0.05 per quarter to $0.06 per quarter. A $0.06 regular quarterly dividend has been declared, payable February 23, 2012 to shareholders of record February 9. At the current $2.27 stock price, the dividend yield is 10.57%. Automodular also announced that Christopher Nutt has been appointed Chief Executive Officer, following the December 31, 2011 retirement of Michael Blair. Mr Nutt will also serve on the board of directors effective immnediately.