Shoreham Resources (SMH:TSX-V)
0.16 +0.06 (60.00%), Vol. 63,000
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Nayarit Gold (NYG:TSX-V)
0.50 +0.04 (8.00%), Vol. 392,110 (Traded approx. 4 1/2 x's Average Daily Volume)
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Nayarit Gold In the News...

Nayarit Gold Intersects 31.08 Metres of 16 g/t Gold Equivalent

Additional intersection of 8.7 metres of 11.7 g/t gold and 1,304 g/t silver, or 33.4 g/t gold equivalent, or 2,006 g/t silver equivalent

Halifax, Nova Scotia CANADA, February 10, 2009 - Nayarit Gold Inc. (NYG - TSX Venture), is pleased to report additional drill results from its 30,000 metre Phase II drill program at the Orion District in the State of Nayarit, Mexico.

The Company is presently completing a series of infill and expansion holes at its Animas/Del Norte Discovery zone with the aim of completing a NI 43-101 resource estimate by the end of Q2/09. The present series of drill holes were completed to evaluate the potential mineralized zone in several locations to increase the density of the drilling, and drill in areas where the mineralized zone remains open.

The mineralized zone is characterized by three parallel veins, with the Del Norte vein demonstrating the highest and most consistent grades and widths. Mineralization has been identified along the Del Norte vein for approximately 700 metres in strike length and up to 400 metres in depth with the mineralized zone open at depth and along strike.

A series of drill holes were completed to increase the density within the mineralized zone, and drill hole OR-08-157 returned the highest single interval to date. The drill hole recorded a 31.08 metre interval through the Del Norte vein from 200.65 metres to 231.73 metres assaying 10.5 g/t gold and 333 g/t silver or 16.0 g/t gold equivalent or 960 g/t silver equivalent. Several other infill holes also returned significantly high values including holes OR-08-146, 150, 152 and 136 and are illustrated in the table below.

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GOLD

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PLATINUM

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Genral Market Commentary

TSX lower as energy, financials weigh

Tue Feb 10, 2:27 PM

TORONTO (Reuters) - Toronto's main stock index fell more than 1 percent by midday on Tuesday as oil and gas issues unwound early gains and caution over the U.S. bank rescue plan dragged down the big financial services sector.

The heavily weighted financials group fell 3.1 percent, tumbling along with markets in the United States which retreated on caution over Washington's plan to shore up the troubled U.S. banking sector, unveiled on Tuesday.

The energy sector, down 2.6 percent, also helped to weigh down the resource-laden TSX as oil slipped below $39 a barrel on concerns about weak fuel demand.

Heavily weighted stocks on the downside included Manulife Financial , down 4.3 percent at $20.44, and Royal Bank of Canada , which fell 2.5 percent to $31.04.

"The market is just tracking Wall Street," said Fergal Smith, managing market strategist at Action Economics.

The U.S. Treasury unveiled a revamped financial rescue plan on Tuesday morning to cleanse billions in spoiled assets from banks' books.

In the U.S., stock market indexes slid more than 3 percent immediately following Treasury Secretary Timothy Geithner's announcement.

Analysts said investors were worried the plan might not do enough to offset the financial crisis.

"A large part of that is that the Geithner speech, while it carried all the ingredients that were telegraphed in advance, there wasn't much of the details the market had been hoping for," said Smith.

He added that the market may also be "correcting some of its recent advance" in anticipation of the plan. The Toronto index has finished higher for the past five sessions.

At 12:33 p.m. EST, the S&P/TSX composite index was down 113.24 points, or 1.25 percent, at 8,934.04, with nine of its 10 main groups lower. Earlier, the index was ahead 0.7 percent.

The resource-laden materials group was the only sector in the black, climbing 2.5 percent with help of rising gold prices.

Miners Barrick Gold rose 4 percent to $47.66 and Goldcorp climbed 4.3 percent to $37.63.

(Reporting by Jennifer Kwan; editing by Rob Wilson)