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by Stockwatch Business Reporter

New York spot gold fell $5.60 to $1,318.10 on Wednesday. The TSX Venture Exchange gained 1.04 points to 830.69 while the TSX Gold Index fell 1.84 points to 181.63. McEwen Mining Inc. (MUX) led Canadian gold miners lower today, dropping 14 cents to $2.57 on 680,000 shares. Torex Gold Resources Inc. (TXG) a big loser yesterday, led the advancers today, adding 58 cents to $11.69 on 893,000 shares.

Elgin Wolfe and Quentin Yarie's Red Pine Exploration Inc. (RPX), up one-half cent to 7.5 cents on 1.59 million shares, has received new assays from its Wawa gold project in Northern Ontario. The assays, from two new holes drilled into the Minto stockwork, included a three-metre interval that averaged 27.84 grams of gold per tonne. The second hole produced two one-metre hits that averaged 6.8 and 6.39 grams of gold per tonne respectively. Red Pine also received assays from a third hole that tested the Minto Mine South zone. It returned 13.15 grams per tonne across a 3.1-metre interval.

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