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Vatic Ventures, Cadillac Ventures, Leader Energy Services, Purepoint Uranium Group, Source Exploration news briefs

Contributed by eResearch

Vatic Ventures Corp. Vatic has located a 900-metre-long by 25- to 50-metre-wide multielement anomaly, as a result of the Company’s 2011 exploration program on its BM gold property near Merritt, B.C. The anomaly is highlighted by gold and silver, along with pathfinder elements antimony and selenium.

Cadillac Ventures Inc. Cadillac has published assay results from holes K-11-25 through K-11-32 drilled at the K1-1 open-pit project at the Company’s Thierry Mine property in northwestern Ontario. Highlights of the results include 825 feet assaying 0.4% Cu and 2.15 g/t Ag. The K1-1 project is about three kilometres east of the Thierry Mine project, both being within the boundaries of the 11,538-acre Thierry property

Leader Energy Services Ltd. Leader expects revenue for Q4/2011, ending December 31, 2011, to exceed $11.0 million, an increase of about 25% over the corresponding period of 2010, and about 10% higher that Q3/2011. The Board of Directors has approved an initial capital budget of $4.5 million for 2012. Most of the funds to be used to expand Leader’s deep-coiled tubing and fluid pumping capacity, with deliveries expected in the H2/2012. Capital expenditures will be financed through operating cash flow.

Purepoint Uranium Group Inc. Purepoint reported that crews are mobilized to begin the Winter 2012 exploration program for Rio Tinto Exploration Canada Inc. at Purepoint’s Red Willow uranium project in the Athabasca Basin in Saskatchewan. Purepoint optioned the property to Rio Tinto a year ago, with Rio Tinto being able to earn a controlling interest by spending up to $22.5 million in exploration and development expenses. The program will include about 1,600 metres of diamond drilling on targets within the Osprey and Geneva areas.

Source Exploration Corp. Source Exploration’s Las Minas project in Mexico has intersected high-grade gold, silver and copper mineralization, and extended skarn by a further 125 metres on strike for a total known strike length of about 840 metres. Drilling also intersected highgrade skarn-zone mineralization by as much as about 265 metres down-dip of previously reported drilling. Highlights include 15.89 g/t Au, 12.98 g/t Ag, and 2.25% Cu over 10 metres.