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Message: "BONANZA!" - Goldgroup mentioned in commentary following PR

BONANZA!: GOLD STOCKS TO WATCH WHILE GOLD PRICE TAKES MINOR DIP

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COMMENTARY - ProspectingJournal.com – December 7, 2010 – It's hard to complain about gold prices when they remain above $1400/oz, but today's trend is so far showing a small dip of around $7 (a fall of only 0.5%). While the price remains a little too high of an entry point for smaller-end investors, those producing the precious metal and making big news with press releases of their own seem to having a good run despite gold's price hiccup so far today. Here's a list of the current gold companies that we've got our eyes on:


Goldgroup Mining Inc.

Take for instance Goldgroup [GGA – TSX] who is poised to earn 50% of their San José de Gracia project which boasted new drilling results that looked promising today. It's drill hole # SJG-10-203 yielded 332.86 g/t Au and 143.9 g/t over 5.50 metres from 70.65 to 76.15 metres depth. Money well spent, apparently, as the company inches closer to its earn-in agreement that required US$18 million in expenditure to gain its share of the property. To date, GGA is around $4.5 million away from achieving this mark, through which there should be more exploration, land acquisition and an updated 43-101 with drill hole data to come before the March 15th, 2011 deadline hits, after which plans are in the making for eventual mining for this potential mineral resource.

In today's press release, CEO of Goldgroup, Keith Piggot stated: “This incredible intersection further verifies that the San José de Gracia district hosts bonanza style gold mineralization. As a consequence, a third diamond drill has just been put into operation at the San José de Gracia project as part of the current 18,500 metre program to expand on this great result.”

Evolving Gold Corp.
We've followed Evolving Gold [EVG – TSX] and its Rattlesnake Hills Project since ProspectingJournal.com's inception (here and here), as it continues to announce its favourable drill results. Though it still has room to grow to meet the expectations late-entry holders may have for it, today was a move in the right direction when it comes to legitimacy, as the company announced its graduation from the TSX-Venture to the TSX. Keeping the same trading symbol, yesterday marked the last day that EVG traded on the TSX.V, opening today with the big boys on the TSX. This could be the move in the right direction to get the credit their flagship project deserves.

CEO of Evolving Gold Corp., Robert Barker, stated today: “We are extremely pleased to make this move to the Toronto Stock Exchange (TSX). We believe this move will facilitate additional investment in Evolving Gold Corp. from institutional investors and will provide a significant benefit to our shareholders as a whole.”

Trelawney Mining and Exploration Inc.

What can we say about this company, other than “good show!” Today Trelawney [TRR – TSX.V] raised $57,134,400 to be used to further develop its prolific Chester Project. With recent updates on the project that came at the beginning of the month, this company is definitely keeping interest, especially with its showings through Cote Lake deposits that intersected 2 zones of Breccia Mineralization. A winter 2011 expansion and drill program has been announced that includes five diamond drill rigs to better define the extent of the Cote Lake deposit. Trading at around $3 shows that its been a good year for Trelawney, which has come a long way since its $0.46 mark in February, 2010. We've seen this kind of story before, but, can't discount that this company could be in the process of making the big leap.

Augen Gold Corp.

If you like the prospect of Trelawney, but feel like you've entered the game too late when TRR is trading at $3, Augen Gold [GLD – TSX.V] could be at the right stage for you. Sitting at an affordable sub $0.50 level, Augen has plenty of upside, as long as its 13-hole drilling program that it announced the commencement of today yields Trelawney-like results. Augen is sitting near the Trelawney Cote Lake project with its South Swayze property which resides in the vicinity of West Cote Lake. It may be riding on the coattails of TRR's good news, but why not? They have the money to develop it, and we don't mind waiting to see if their comparisons to TRR's Chester Project are accurate.

Happy panning!

G. Joel Chury

Editor in Chief
ProspectingJournal.com
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DISCLOSURE: No fee has been paid for the production and distribution of this article and as such should be viewed in the context of a commentary. The author does not own any shares of the companies referred to within the article.

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