Gold Market Update From Pennytobuck.com - Sila.ob Gold American Mining Corp.

Gold American Mining Corp (SILA.OB)

Gold American Mining Corp (SILA.OB)

It's a company whose word is as good as gold or silver.

When Gold American Mining Corp (SILA.OB) says that it believes that the vein system on its property in Guadalupe Mexico has the potential to continue too much greater depths, shareholders listen.

The company recently announced that its geophysics program on its Guadalupe, Mexico, property completed on July 20 confirmed that fact and that it foresees being in a position to start drilling very soon.

The precious metals exploration company is focused on the aggressive ongoing acquisition and exploration of holdings with rich gold and silver production potential. The Guadalupe property contains two historically significant mines and is located in one of Mexico's oldest mining districts, roughly five miles north of the Fresnillo (Proao) Mine, the world's richest underground silver mine, operated by Fresnillo plc. About 6.8 miles to the southwest of Silver America's Guadalupe Property, is the Juanicipio Joint Venture (JV) between MAG Silver Corp. (MAG) and Fresnillo plc, which is known as one of the world's highest grade undeveloped silver resources.

The Property contains greater than 20 known workings as well as two historic mines - Santa Rita and San Antonio. Historic records containing references to the Santa Rita and San Antonio mines suggest that both mines were important and reached their height of production between 1910 and 1920 but were last in production in the 1980's.

Gold American Mining Corp. (OTCBB:SILA.OB) a development stage company, focuses on the acquisition, exploration, and development of mineral resource properties in North America. SILA primarily explores for silver and gold deposits. SILAs properties also include Keeno Strike project, which is located in the Clark County, Nevada.

Recent Gold Price Per Ounce: $1,243.90

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To learn more about visit: www.gold-american.com

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by: Bill Pennyman

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