LATIN AMERICA ROUNDUP — American Resource bids for Red Rock

Junior Red Rock Mining (VSE) is the subject of a takeover bid by American Resource, which is proposing to merge the two companies should its offer be successful.

American is offering to buy all of the shares of Red Rock owned by Australia-based Walhalla Mining for US$1 per share, to be paid partly in cash and partly in convertible notes.

Red Rock has already announced its intention to sell its 50% interest in the Amelia gold project in Mexico (Walhalla

is its project partner) and its oil and gas interests. Red Rock and American are 50-50 owners of the Goldfield property in Nevada.

American has property interests in Nevada (the producing Butcher Boy alluvial open-pit gold project and a zeolite mine), in Uruguay and in Argentina.