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by Stockwatch Business Reporter

New York spot gold gained $7.40, closing at $1,228.40 on Tuesday. The TSX Venture Exchange jumped 17.52 points to 747.16 while the TSX Gold Index gained 6.92 points to 200.39. Most Canadian gold miners rebounded sharply today, with McEwen Mining Inc. (MUX) gaining 37 cents to $4.24 on 1.37 million shares and Eldorado Gold Corp. (ELD) adding 32 cents to $3.85 on 8.20 million shares. Tahoe Resources Inc. (THO) was one of the few laggards. It dropped 10 cents to $13.13 on 3.39 million shares.

Murray Nye's Winston Gold Mining Corp. (WGC), up five cents to 45 cents on 171,000 shares, has received assays of up to 18.27 grams of gold per tonne over 1.52 metres from one of the first two holes drilled at its Winston gold project near Helena in central Montana. The second hole also encountered gold, including 6.51 grams per tonne over 2.44 metres and 5.45 grams per tonne over 0.91 metre. Winston Gold is continuing its first phase of drilling on the project, in which up to 20 holes spanning nearly 1,500 metres are planned, primarily targeting the Custer and Edna veins. Mr. Nye, chief executive officer, says he is "very excited by these results," as they confirm his company's initial predictions about the high-grade nature of the Winston gold system. He says the two new holes may have intersected downdip extension of the Edna vein and if so, they show good continuity.

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