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Conroy Gold & Natural Resources, Strategic Minerals, SolGold, Touchstone Gold news briefs

Contributed by Fox-Davies Capital

Conroy Gold & Natural Resources has appointed Seamus FitzPatrick as Deputy Chairman:

- Mr FitzPatrick, has been a Non-Executive Director of Conroy for the past five years
- Formerly with Morgan Stanley International, J.P. Morgan Capital Partners and Bankers' Trust he is currently chairman of the Mater Private Hospital and Valeo Foods Limited, and is a board member of Reno Norden AB and Karelian Diamond Resources plc.

Strategic Minerals has raised £4.2M to fund working capital for full scale production in New Mexico £4.2M, net of expenses.

In this news:
- Raised at 4.5p compared to 60-day moving average price to 4 February 2013 of 4.86p per share and current share price of 5.87p
- Funds raised to be primarily used to provide working capital for the Company's magnetite tailings deposit at the Cobre Mine in New Mexico which is now in full scale production and well positioned to achieve shipments in the export market of approximately 50,000 DMT per month
- Next shipment of 53,000 DMT currently being loaded at the port of Guaymas.

SolGold has advised that CEO and Managing Director, Mr Malcolm Norris has resigned.

In this news:
- Mr Nicholas Mather will continue as the Executive Director of the Company during a transitionary period until a new CEO is appointed.
- The Board and Management of the Company have commenced implementing a range of rationalisation and cost saving initiatives, including a reduction in Board fees, a reduction in salary expenses, and a reduction in the general administrative costs of running the Company.

FD Comment: This is a big blow to the Company and whilst Nick Mather has the experience to run the Company, his other commitments will likely mean the Company will need to find a new CEO quickly.

Touchstone Gold has released a review of is activities in 2012 and an update on its upcoming exploration plans.

In this news:
- Stage 4 drilling programme to commence 1Q'13 for an initial 15,000m of infill and step-out drilling
- Focus on expanding the areas of known gold mineralization and testing advanced targets
- Maiden NI 43-101 resource estimate on the Rio Pescado zone expected following drilling programme
- Conduct ongoing geological mapping, geochemical sampling, and geophysics on its concessions to identify new drill targets.

FD Comment:
Previous drilling has returned some excellent intersections including 28.75m @8.75g/t and to date less than 5% of Touchstone's 24,699-hectare concession has been drilled. Having raised C$5.5M in December the Company is well placed for the year ahead and intends to drill other identified exploration targets at the San Miguel property in the latter part of the year.