Spindle is well positioned to take advantage of the nascent mobile payments industry in North America and offers leading banks and merchants the ability to leverage their patented technology to enable participation in this emerging payments eco-system. As part of the relationship, ValidSoft will provide Spindle with its custom-built, advanced multi-layered, multi-factor authentication and transaction verification technologies: SMART (Secure Mobile Architecture for Real-time Transactions), which will be integrated into Spindle’s RhinoVerify security solution.

“We are delighted to announce this partnership with Spindle, which offers its banking customers, merchants and partners a compelling and innovative value proposition that we believe will generate a great deal of attention in the marketplace,” said Pat Carroll, chief executive officer of ValidSoft. “This is a strong technical win for ValidSoft, which provides further validation of our advanced security capabilities in the mobile payments arena and gives ValidSoft the ability to greatly expand our company’s presence in the United States. IE Market Research estimates that the potential mobile payments market in America is expected to reach $260 billion by 2015, so this relationship is a welcome opportunity to showcase ValidSoft’s unique capability to deliver its superior security and authentication solutions which are custom built for the mobile payments ecosystem in one of the world’s most security-demanding markets.”

Spindle is a pioneer in, and at the forefront of frictionless finance©, and a leading provider of alternative and mobile commerce payment platforms for merchants and consumers. Spindle, one of a handful of providers that offer an open payment service for both consumers and merchants, is actively pursuing what Mercator Advisory Group recently published is a 16 million underserved micro merchant addressable market. In addition, the company is pursuing the approximately 58 million households actively engaged in online and mobile commerce money movement as reported by Javelin Research.

“Spindle offers customers a patented solution and approach to mobile and alternative commerce,” said Bill Clark, president of Spindle. Mr. Clark continued, “With global mobile payments transactions projected to rise to $945 billion in 2015, and mobile payment users to rise to 893.3million, Spindle continues to seek best in breed international partners for this emerging mobile community.” Clark added, “Our Nurture, Convert, and Transact philosophy enables commerce across a wide range of payment form factors and infrastructure fully addressing both consumer and merchant interaction in the mobile ecosystem within the evolving social marketplace.”

Spindle’s patented portfolio includes RhinoPay®, a simple, mobile, secure payment solution which enables person-to-person, person-to-business, business-to-person, and business-to-business payments. The RhinoPay® platform is accessible universally through any networked or mobile device and delivers superior flexibility by enabling payments through credit and debit cards, check, closed loop, and ACH transfers.

Spindle’s RhinoVerify solution is a verification process that uses instant messaging, SMS, and other technologies to authenticate purchases and transactions. It works for all modes of transactions, including mobile commerce, e-commerce, and traditional retail.

“Maintaining the security and privacy of customer data has been — and will continue to be — Spindle’s highest priority,” said Clark. “Our relationship with ValidSoft enables us to integrate a ‘best-in-class’ payments-specific layered authentication and security solution that is seamless, transparent, and above all, highly effective. The integration of ValidSoft’s SMART into the RhinoVerify solution will further differentiate Spindle’s solutions in a burgeoning marketplace and we expect to be live in the second half of 2012.”

About ValidSoft

ValidSoft is a subsidiary of Elephant Talk Communications Corp. (NYSE MKT: ETAK) (NYSE Amex: ETAK), (www.elephanttalk.com) and is a market leader in providing solutions to counter electronic fraud relating to card, the internet, and telephone channels. ValidSoft’s solutions are at the cutting edge of the market and are used to verify the authenticity of both parties to a transaction (Mutual Authentication), and the integrity of the transaction itself (TransactionVerification) for the mass market, in a highly cost effective and secure manner, yet easy to use and intuitive. For more information, please visit (www.validsoft.com).

About Spindle, Inc.

Spindle, Inc. (OTCBB: SPDL) is an innovator of mobile payment solutions for the banking industry, retail sector and consumer-facing companies. A pioneer in “Frictionless Finance,” the company is actively developing new and improved ways for companies and end consumers to fluidly transact and exchange funds, regardless of platform. The Company is dedicated to delivery of simple, mobile, secure payment services crossing traditional boundaries by offering cutting-edge solutions that enable buyers, sellers and individuals to transact face-to-face or virtually using mobile or internet devices, this includes RhinoPay®, a frictionless way to pay. The company also owns and has developed an extensive intellectual property portfolio, including issued, pending, and provisional patents covering networked and mobile payments, credit card processing, and security. For more information, visit www.spindleHQ.com.

About Elephant Talk Communications
Elephant Talk Communications Corp. (NYSE MKT: ETAK), (www.elephanttalk.com) is an international provider of business software and services to the telecommunications and financial services industry. The company enables both mobile carriers and virtual operators to offer a full suite of products, delivery platforms, support services, superior industry expertise and high quality customer service without substantial upfront investments from clients. Elephant Talk provides global telecommunication companies, mobile network operators, banks, supermarkets, consumer product companies, media firms, and other businesses a full suite of products and services that enables them to fully provide telecom services as part of their business offerings. The company offers various dynamic products that include remote health care, credit card fraud prevention, mobile internet ID security, multi-country discounted phone services, loyalty management services, and a whole range of other emerging customized mobile services. For more information, visit (www.elephanttalk.com).

Forward-Looking Statements
Certain statements contained herein constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may include, without limitation, statements with respect to the Company’s plans and objectives, projections, expectations and intentions. These forward-looking statements are based on current expectations, estimates and projections about the Company’s industry, management’s beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of the Company may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. Additional information concerning certain risks and uncertainties that could cause actual results to differ materially from that projected or suggested is contained in the Company’s filings with the Securities and Exchange Commission (SEC), copies of which, are available from the SEC or may be obtained upon request from the Company.

Contacts:

Elephant Talk Communications Corp.
Mr. Steven van der Velden
Tel: + 31 20 653 59 16
Email: Email Contact

Investors Relations:
Alliance Advisors, LLC
Thomas P. Walsh
Tel: +1 212-398-3486
Email: Email Contact

Spindle Contact:
Investor Relations
John McFarland
SE Media
404-441-2027

ValidSoft:
Emmanuelle Filsjean
Tel: +44 (0)20 3170 8999
Email: Email Contact

For UK and EU:
Fishburn Hedges
+44 (0)20 7839 4321
Email: Email Contact

The company’s total revenues for the quarter were $360,328, an increase of $121,202, or 51%, from the company’s first quarter 2011 results of $239,126. Additionally, gross profit increased $21,398 to $56,381 for the quarter as compared to $34,983 during the first quarter of 2011, a 61% increase.

Total operating expenses increased by $780,852 for the quarter versus the same period a year earlier. This increase is primarily due to one-time expenses and corresponding costs of public company reporting incurred when Intellinetics, Inc. merged with GlobalWise.

GlobalWise’s President and CEO Mr. William J. “BJ” Santiago stated, “We had a very busy first quarter this year and we’re extremely pleased with the direction and transformation of the company in such a short period. Leveraging our 18-year operating history as a software solutions provider, we’re now rapidly migrating to a cloud-based, channel distribution model with great success. For example, our substantial first quarter growth is in direct correlation to the success of on-boarding just one key channel partner in the third quarter of 2011 that serves the healthcare industry. I believe that the success we’ve had in on-boarding similar dynamic partners late last year and throughout this first quarter will replicate the same financial success over the next year. We believe the short-term, one-time expenses of the merger will be more than offset in the future by the benefits of having access to additional sources of capital as we continue to execute our growth strategy both in North America and abroad in the cloud computing sector.”

With the merger complete, GlobalWise has significantly ramped-up its sales efforts and has entered into five new channel partner agreements since February. The Company believes the expansion of its reseller program to include Latin America in the second quarter of 2012 will continue to increase, driving growth for the next several years.

About GlobalWise Investments, Inc.

GlobalWise Investments, Inc., via its wholly owned subsidiary Intellinetics, Inc., is a Columbus, Ohio based Enterprise Content Management (ECM) pioneer with industry-leading software that delivers cloud ECM based solutions on-demand. The Company’s flagship platform, Intellivue™, represents a new industry benchmark and game-changing solution by enabling clients to access and manage the content of every scanned document, file, spreadsheet, email, photo, audio file or video tape — virtually anything that can be digitized — in their enterprise from any PC, laptop, tablet or smartphone from anywhere in the world.

For additional information, please visit the Company’s corporate website: www.GlobalWiseInvestments.com

This press release may contain “forward-looking statements.” Expressions of future goals and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements may include, without limitation, statements about our market opportunity, strategies, competition, expected activities and expenditures as we pursue our business plan. Although we believe that the expectations reflected in any forward-looking statements are reasonable, we cannot predict the effect that market conditions, customer acceptance of products, regulatory issues, competitive factors, or other business circumstances and factors described in our filings with the Securities and Exchange Commission may have on our results. The company undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this press release.

GlobalWise Investments, Inc.
Columbus, Ohio
www.GlobalWiseInvestments.com
614-388-8909
Contact@GlobalWiseInvestments.com

Mission Investor Relations
Atlanta, Georgia
http://www.MissionIR.com
404-941-8975
Investors@MissionIR.com

“We are pleased to have the privilege of working with some of the top atmospheric scientists in the world through the University of Colorado,” stated Michael Hurowitz, SEFE’s Director of Engineering. “The university will be a critical partner in perfecting SEFE’s core technology and further developing the key aspects of the Harmony III platform.”

The research partnership will seek to develop a more accurate understanding of the physics governing atmospheric corona discharge. The goal is to develop a mathematical routine and compare to experimental data gathered in testing various elements of the Harmony III system. SEFE will also engage engineering teams from the university to assist in the design and testing of various subsystems related to Harmony III.

For more information, visit www.SEFElectric.com.

About SEFE, Inc.

SEFE focuses on pushing the boundaries of what’s possible, embracing innovation and employing the cutting-edge to solve problems, and offering sustainable solutions to a world hungry for invention, direction and leadership. SEFE is technology- and solutions-driven, focusing on developing inventions that provide a real-world impact and true profitability. So, success is measured by both a sustainable return on investment, as well as a project’s sustainability from an environmental perspective.

For more information, visit www.SEFElectric.com.

Forward-Looking Statements

This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include words such as “anticipate,” “if,” “believe,” “plan,” “estimate,” “expect,” “intend,” “may,” “could,” “should,” “will,” and other similar expressions are forward-looking statements. All forward-looking statements involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.

Mindspeed’s team will discuss current business trends as well as its innovative product line and strength in supplying network infrastructure semiconductor solutions. In particular, management will highlight its leading position in small cell solutions to meet the infrastructure needs required by the global wireless 4G/LTE rollouts, including 25 customer engagements. The presentation will also focus on its system-on-chip (SoC) products for high growth markets, including fiber optic access, communication convergence processing and high-performance analog solutions, all of which it currently supplies to tier-1 OEMs. The presentation will be webcast live and archived for replay for 30 days on the Investors section of Mindspeed’s website at www.mindspeed.com.

About Mindspeed Technologies

Mindspeed Technologies (NASDAQ: MSPD) is a leading provider of network infrastructure semiconductor solutions to the communications industry. The company’s low-power system-on-chip (SoC) products are helping to drive video, voice and data applications in worldwide fiber-optic networks and enable advanced processing for 3G and long-term evolution (LTE) mobile networks. The company’s high-performance analog products are used in a variety of optical, enterprise, industrial and video transport systems. Mindspeed’s products are sold to original equipment manufacturers (OEMs) around the globe.

To learn more, please visit www.mindspeed.com. Company news and updates are also posted at www.twitter.com/mindspeed.

MIAMI, May 16, 2012 /PRNewswire/ — Spanish Broadcasting System Inc., (SBS) (Nasdaq: SBSA) announced the appointment of Albert Rodriguez to Chief Operating Officer (COO) effective immediately. Mr. Rodriguez will be responsible for the day-to-day operations of the Company and will continue to oversee the revenue and profit performance of the Company’s consolidated operations, including radio, television, interactive and entertainment divisions.

(Logo: http://photos.prnewswire.com/prnh/20110316/CL65860LOGO )

Mr. Raul Alarcon, Chairman/President/CEO of the Spanish Broadcasting System, Inc. Board of Directors, stated, “The Board unanimously agreed that Albert’s track record and expertise make him the ideal executive to lead SBS’s future growth. Albert has over 22 years of relevant industry experience and has demonstrated his highly-skilled leadership and strategic vision at SBS over the past 13 years. We are confident in Albert’s ability to deliver on SBS’s goals and accelerate our growth as a leading multi-platform media company in America.”

“I am thrilled to take on the role of Chief Operating Officer,” said Rodriguez. “SBS has grown its competitive position while continuing to serve and advocate for the important U.S. Hispanic community. I’m excited to lead a company with such tremendous growth potential and look forward to continuing to work with such an exceptional leadership team.”

Prior to his appointment as Chief Operating Officer, Mr. Rodriguez, age 47, was Chief Revenue Officer of the Company’s consolidated operations and General Manager of the Miami television market since January 3, 2011, Chief Revenue Officer of the television segment and General Manager of the Miami television market since October 12, 2010, General Manager of the Miami television market from January 21, 2010 through October 11, 2010, and General Sales Manager for the Miami radio market from November 1999 through January 2010.

For more information please visit: www.spanishbroadcasting.comwww.lamusica.com
www.mega.tv

iPhone -Download LaMusica App
Android – Download LaMusica App

About Spanish Broadcasting System, Inc.
Spanish Broadcasting System, Inc. is the largest publicly traded Hispanic-controlled media and entertainment company in the United States. SBS owns and/or operates 21 radio stations located in the top U.S. Hispanic markets of New York, Los Angeles, Miami, Chicago, San Francisco and Puerto Rico, airing the Tropical, Mexican Regional, Spanish Adult Contemporary and Urban format genres. SBS has 3 of the top 6 Spanish-language stations in the nation including the #1 Spanish station in America, WSKQ-FM in New York City (WPAT is ranked #3 and KLAX is ranked #6). The Company also owns and operates MegaTV, a television operation with over-the-air, cable and satellite distribution and affiliates throughout the U.S. and Puerto Rico. SBS also produces live concerts and events throughout the country and operates LaMusica.com, a bilingual Spanish-English online site providing content related to Latin music, entertainment, news and culture. The Company’s corporate Web site can be accessed at www.spanishbroadcasting.com.

SOURCE Spanish Broadcasting System, Inc.

The revised terms of the agreement call for Timberline to acquire the remaining 50-percent interest in BHJV in exchange for issuance of shares of the Company’s common stock, not to exceed 5% of the common stock issued and outstanding as of the date of closing, along with a Net Smelter Return (NSR) production royalty of 5% on all production from Butte Highlands, and a future cash payment to Highland Mining of $6 million to be made no later than 2 years subsequent to the commencement of commercial production at Butte Highlands. Consistent with the original agreement, Highland Mining will completely cancel its outstanding loan, including principal and interest, to BHJV for more than $24-million of development costs incurred at the project to-date. The deal is expected to close in the current quarter, subject to standard closing conditions and regulatory approvals, including the approval of the NYSE Amex and the TSX Venture Exchange.

Highland Mining is controlled by Ron Guill, who is also a director of the Company and the Company’s largest shareholder.

About Timberline Resources

Timberline Resources Corporation is exploring and developing advanced-stage gold properties in the western United States. Timberline is working on a transaction to increase its ownership stake in its Butte Highlands Joint Venture in Montana where gold production is targeted to commence later this year. Timberline’s exploration is primarily focused on the goldfields of Nevada, where it is advancing its flagship Lookout Mountain Project toward a production decision while exploring a pipeline of quality earlier-stage projects at its South Eureka Property and elsewhere. Timberline management has a proven track record of discovering economic mineral deposits and developing them into profitable mines.

Timberline is listed on the NYSE Amex where it trades under the symbol “TLR” and on the TSX Venture Exchange where it trades under the symbol “TBR”.

Forward-Looking Statements

Statements contained herein that are not based upon current or historical fact are forward-looking in nature and constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements reflect the Company’s expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. These statements include but are not limited to statements regarding the timing of the Company’s continued exploration and drill program at South Eureka and Lookout Mountain, the timing of assay results from such drilling program being released, the Company’s ability to expand the South Eureka resource, purchase of the Butte Highlands JV, LLC membership interests (including the expected timing of such purchase), the timing or results of the Company’s drill programs at Butte Highlands, including the timing of obtaining necessary permits, the development and production of the Company’s Butte Highlands project and projects on its South Eureka property, the potential life of the mine at the Butte Highlands project, the targeted production date for the Butte Highlands project, targeted date for production at South Eureka, the potential for a heap-leach mine at South Eureka, targeted dates for the South Eureka technical report and economic scoping study, and possible growth of the Company and the Company’s expected operations, including potential development of an open pit extraction and run-of-mine heap leach processing and operation at South Eureka. When used herein, the words “anticipate,” “believe,” “estimate,” “upcoming,” “plan,” “target”, “intend” and “expect” and similar expressions, as they relate to Timberline Resources Corporation, its subsidiaries, or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties, and other factors that could cause the Company’s actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, whether or not the Company completes the purchase of the Butte Highlands JV, LLC membership interests, risks related to the timing and completion of the drilling programs at Butte Highlands and South Eureka, risks and uncertainties related to mineral estimates, risks related to the inherently dangerous activity of mining, and other such factors, including risk factors discussed in the Company’s Annual Report on Form 10-K for the year ended September 30, 2011. Except as required by Federal Securities law, the Company does not undertake any obligation to release publicly any revisions to any forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts:
Timberline Resources Corporation
Paul Dircksen
CEO
208.664.4859

SAN FRANCISCO, May 10, 2012 /PRNewswire/ — Salesforce.com (NYSE: CRM), the enterprise cloud computing (http://www.salesforce.com/cloudcomputing/) company, today announced the company’s 2012 annual meeting of stockholders will be held on Thursday, June 7, 2012 at 2:00PM (PT) / 5:00PM (ET). The meeting is to be held at the St. Regis Hotel located on 125 3rd Street, San Francisco, California 94105. Stockholders of salesforce.com as of April 17, 2012 are invited to attend the meeting and should refer to salesforce.com’s proxy statement available at www.salesforce.com/investor for details regarding required documentation to gain admission to the meeting.

(Logo: http://photos.prnewswire.com/prnh/20050216/SFW105LOGO)

An audiocast will be available to the public on salesforce.com’s website at www.salesforce.com/investor.

About Salesforce.com

With more than 100,000 customers, salesforce.com is the enterprise cloud computing company that is leading the shift to thesocial enterprise. Social enterprises leverage social, mobile and open cloud technologies to put customers at the heart of their business. Based on salesforce.com’s real-time, multitenant architecture, the company’s platform and application services allow customers to:

• Create employee social networks with Salesforce Chatter, Salesforce Rypple and Salesforce Force.com.
• Develop customer social networks with the Salesforce Sales Cloud, Salesforce Data.com, Salesforce Service Cloud, and
  Salesforce Site.com.
• Connect with customers on public social networks with Salesforce Heroku and Salesforce Radian6.
• Empower small businesses to become social enterprises with Salesforce Desk.com and Salesforce Do.com.
• Extend a company’s social enterprise with apps from the leading enterprise app marketplace, AppExchange.
• Run apps on Database.com, the first social enterprise database.

Any unreleased services or features referenced in this or other press releases or public statements are not currently available and may not be delivered on time or at all. Customers who purchase salesforce.com applications should make their purchase decisions based upon features that are currently available. Salesforce.com has headquarters in San Francisco, with offices in Europe and Asia, and trades on the New York Stock Exchange under the ticker symbol “CRM.” For more information please visit http://salesforce.com, or call 1-800-NO-SOFTWARE.

©2012 salesforce.com, inc. All rights reserved. Salesforce.com, Salesforce, Chatter, Sales Cloud, Service Cloud, Radian6, Jigsaw, AppExchange, Force.com, Heroku, and all associated logos are trademarks of salesforce.com, inc. in the United States and other countries. Salesforce.com offers its Siteforce products and services in Germany under the Force.com Sites trademark. Other names used herein may be trademarks of their respective owners. Other names used herein may be trademarks of their respective owners.

Steve Williams, Chief Executive Officer of Intellicheck Mobilisa, said, “This is the largest TWIC sale we have made to one facility and a market we’ve been creating and leading. The port wanted to increase their security efforts in order to meet the new security requirements associated with the use of TWIC cards. Our IM2700 TWIC reader was a natural addition to their security procedures.”

The TWIC program is an initiative of the Transportation Security Administration and U.S. Coast Guard to provide tamper-resistant biometric identification cards to port facility workers. TWIC cards have become a mandatory requirement for access to all U.S. ports as of April 15, 2009. Intellicheck Mobilisa’s TWIC reader handheld device is used to validate TWIC cards. The company believes such a universal reader will ultimately be needed at each of the more than 175 seaports in the U.S. Intellicheck Mobilisa’s TWIC reader is currently in use at major port facilities in California, Massachusetts, New Jersey, Texas and the State of Washington.

About Intellicheck Mobilisa

Intellicheck Mobilisa (ICMOBIL) is a leading technology company that is engaged in developing and marketing wireless technology and identity systems for various applications, including mobile and handheld access control and security systems for the government, military and commercial markets. ICMOBIL’s products include the Fugitive Finder system, an advanced ID card access control product currently protecting approximately 100 military and federal locations; ID Check, a patented technology that instantly reads, analyzes, and verifies encoded data in magnetic stripes and barcodes on government-issued IDs from U.S. and Canadian jurisdictions, designed to improve the Customer Experience for the financial, hospitality and retail sectors; and Aegeus, a wireless security buoy system for the government, military and oil industry.

For more news and information on ICMOBIL, please visit www.icmobil.com.

MISSISSAUGA, ON, May 11, 2012 /PRNewswire/ – YM BioSciences Inc. (NYSE Amex: YMI, TSX: YM), a drug development company advancing a diverse portfolio of hematology and cancer related products, today reported operational and financial results for its third quarter of fiscal 2012, ended March 31, 2011.

“In the past few months we delivered robust Phase I/II results for our JAK1/JAK2 inhibitor, CYT387, in patients with myelofibrosis and we raised an additional $80 million principally to support the further advancement of this drug,” said Dr. Nick Glover, President and CEO of YM BioSciences. “Our current focus is on confirming our Phase III clinical strategy for CYT387 with both North American and European regulators with the expectation that, subject to these regulatory discussions, we will begin enrolling patients in pivotal trials in the second half of calendar 2012.”

CYT387 Next Steps:

• Subject to regulatory clearance, pivotal trials for CYT387 in myelofibrosis are targeted to begin in the second half of calendar 2012.
• Final nine-month data from the ongoing 166-patient Phase I/II Core trial are expected to be reported by the end of calendar 2012.
• Interim data from the Phase I/II Extension trial, in which patients who have completed the Core trial are able to continue long-term treatment with CYT387, are expected to be reported by the end of calendar 2012.
• Interim data from the BID (twice-daily dosing) Phase II trial of CYT387 are expected to be reported by the end of calendar 2012.
• YM may evaluate CYT387’s effectiveness in additional clinical indications and is currently in the process of designing clinical trials for these indications.
• YM will entertain strategic discussions with other companies for the next stages of development for CYT387 and will weigh any opportunities against the prospect of retaining full commercial economics by advancing CYT387 further into pivotal trials on its own.

Financial Results (CDN dollars)
The interim consolidated financial statements and comparative information for the third quarter of fiscal 2012 have been prepared in accordance with International Financial Reporting Standards (”IFRS”). Previously, up to June 30, 2011, the Company prepared its Interim and Annual Consolidated Financial Statements in accordance with Canadian Generally Accepted Accounting Principles (”Canadian GAAP”).

Revenue, primarily from out-licensing, for the third quarter of fiscal 2012 ended March 31, 2012, was $0.1 million compared with $0.2 million for the third quarter of fiscal 2011. Revenue from out-licensing for the first nine months of fiscal 2012 was $0.7 million compared with $0.8 million for the first nine months of fiscal 2011. The decreases were due to a two-year increase in the period over which the deferred revenue is being recognized.

Net finance income was $0.3 million for the third quarter of fiscal 2012 compared to net finance costs of $1.5 million for the third quarter of fiscal 2011. Net finance income was $9.3 million for the first nine months of fiscal 2012 compared to net finance costs of $9.8 million for the first nine months of fiscal 2011. The changes in net finance income are primarily attributable to changes in the fair value adjustment for USD warrants. Under IFRS, warrants denominated in a different currency than the Company’s functional currency must be classified as a financial liability and measured at fair value, with changes reflected in profit or loss. For the third quarter of fiscal 2012, the Company incurred a loss of $0.4 million on the revaluation of warrants, compared to a loss of $1.1 million for the third quarter of fiscal 2011. For the first nine months of fiscal 2012, the Company incurred a gain of $6.8 million on the revaluation of warrants, compared to a loss of $8.6 million for the first nine months of fiscal 2011.

Licensing and product development expenses were $5.8 million for the third quarter of fiscal 2012 compared with $5.5 million for the third quarter of fiscal 2011. Licensing and product development expenses were $19.5 million for the first nine months of fiscal 2012 compared with $16.4 million for the first nine months of fiscal 2011. For the third quarter of fiscal 2012, core expenses for licensing and product development remained constant at $3.0 million compared to the three months ended March 31, 2011, costs associated with development activities for CYT387 increased by $1.0 million to $2.5 million, and costs associated with development activities for nimotuzumab decreased by $0.7 million to $0.2 million. Development expenses for CYT387 increased due to the expansion of the Phase I/II clinical trial in myelofibrosis, start-up costs associated with the BID (twice-daily dosing) study, pre-clinical development activities, and manufacturing of drug for these programs.

General and administrative expenses were $1.4 million for the third quarter of fiscal 2012 compared to $1.6 million for the third quarter of fiscal 2011. General and administrative expenses were $4.7 million for the first nine months of fiscal 2012 compared to $6.6 million for the first nine months of fiscal 2011, primarily due to severance and restructuring costs incurred in fiscal 2011.

Net loss for the third quarter of fiscal 2012 was $6.8 million ($0.05 per share) compared to $8.3 million ($0.08 per share) for the same period last fiscal year. Net loss for the first nine months of fiscal 2012 was $14.2 million ($0.12 per share) compared to $32.0 million ($0.35 per share) for the same period last fiscal year. Under IFRS, net loss has been volatile, caused by the requirement to adjust the carrying value of liabilities such as USD warrants and stock appreciation rights to fair value at each measurement date, with changes being reflected in net loss for the quarter.

During the third quarter of fiscal 2012, the Company completed a prospectus offering of 40,250,000 shares for gross proceeds of $79.4 million (U.S. $80.5 million) resulting in a net cash proceeds of $74.2 million.

As at March 31, 2012 the Company had cash and short-term deposits totaling $137.2 million and accounts payables and accrued liabilities totaling $3.1 million compared to $79.7 million and $4.4 million respectively at June 30, 2011.

As at March 31, 2012 the Company had 157,402,353 common shares and 7,366,418 warrants outstanding.

About YM BioSciences
YM BioSciences Inc. is a drug development company primarily focused on advancing CYT387, an orally administered inhibitor of both the JAK1 and JAK2 kinases, which have been implicated in a number of immune cell disorders including myeloproliferative neoplasms and inflammatory diseases as well as certain cancers. Positive interim results have been reported from a Phase I/II trial of CYT387 in 166 patients with myelofibrosis. This trial has completed enrollment while a 60 patient Phase II twice-daily dose escalation trial is currently recruiting patients. YM’s portfolio also includes nimotuzumab, a humanized monoclonal antibody targeting EGFR with an enhanced side-effect profile over currently marketed EGFR-targeting antibodies. Nimotuzumab is being evaluated in numerous Phase II and III trials worldwide. CYT997 is an orally-available small molecule therapeutic with dual mechanisms of vascular disruption and cytotoxicity, and has completed a Phase II trial in glioblastoma multiforme. In addition to YM’s three products, the Company has several preclinical research programs underway with candidates from its library of novel compounds identified through internal research conducted at YM BioSciences Australia.

This press release may contain forward-looking statements, which reflect the Company’s current expectation regarding future events. These forward-looking statements involve risks and uncertainties that may cause actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. Such factors include, but are not limited to, changing market conditions, the successful and timely completion of clinical studies, the establishment of corporate alliances, the impact of competitive products and pricing, new product development, uncertainties related to the regulatory approval process or the ability to obtain drug product in sufficient quantity or at standards acceptable to health regulatory authorities to complete clinical trials or to meet commercial demand; and other risks detailed from time to time in the Company’s ongoing quarterly and annual reporting. Certain of the assumptions made in preparing forward-looking statements include but are not limited to the following: that CYT387, nimotuzumab and CYT997 will generate positive efficacy and safety data in ongoing and future clinical trials, and that YM and its various licensees will complete their respective clinical trials and disclose data within the timelines communicated in this release. Except as required by applicable securities laws, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE YM BioSciences Inc.

Revenue for the three months ended March 31, 2012 nearly doubled, increasing to $17.7 million from $8.9 million in the comparable prior year period. This increase was attributable to higher electrical construction revenue.

Because of improved results in the electrical construction segment, the Company’s operating income for the three months ended March 31, 2012 increased to $2.7 million from an operating loss of $1,000 in the same prior year period.

For the three months ended March 31, 2012, the electrical construction segment’s operating results showed significant improvement, with revenue of $17.1 million and operating income of $3.3 million, compared to revenue of $8.2 million and operating income of $328,000 in the prior year. This increase in revenue was largely attributable to an increase in demand for our electrical construction services, particularly our transmission work, as a result of our expansion efforts during 2010 and 2011. As previously announced in February of 2012, the Company’s electrical construction segment was awarded a $52.0 million transmission line construction contract as part of the Competitive Renewable Energy Zones (”CREZ”) projects. Construction of the CREZ project commenced last month, and is currently scheduled to be completed on August 31, 2013. Our results for the first quarter did not include any revenue from this project.

For the three months ended March 31, 2012, the real estate development segment had revenue of $634,000 and operating income of $124,000, compared to revenue of $766,000 and operating income of $225,000, respectively, for 2011. We currently have no condominium projects under construction, and only have one unit remaining unsold from our Pineapple House project.

Net income for the three months ended March 31, 2012 was $2.7 million, or $0.10 per share, compared to a net loss of $11,000, or ($0.00) net loss per share, in the comparable prior year period.

John H. Sottile, Goldfield’s President and Chief Executive Officer stated, “The prospects for our electrical construction business are brighter today than at any time in recent history. Our backlog at March 31, 2012 was $70.6 million, up from $6.2 million at March 31st last year.” Mr. Sottile also added, “We believe that our recent expansion into Texas and our new CREZ project will provide a good opportunity for further growth in this region.”

About Goldfield

Goldfield is a leading provider of electrical construction and maintenance services in the energy infrastructure industry throughout much of the United States. The company specializes in installing and maintaining electrical transmission lines for a wide range of electric utilities. Goldfield is also involved, to a much lesser extent, in real estate development activities on Florida’s east coast.

For additional information on our first quarter results, please refer to our Quarterly Report on Form 10-Q being filed with the Securities and Exchange Commission and visit the Company’s website at http://www.goldfieldcorp.com.

This press release includes forward-looking statements based on our current expectations. Our actual results may differ materially from what we currently expect. Factors that may affect the results of our electrical construction operations include, among others: the level of construction activities by public utilities; the timing and duration of construction projects for which we are engaged; our ability to estimate accurately with respect to fixed price construction contracts; and heightened competition in the electrical construction field, including intensification of price competition. Factors that may affect the results of our real estate development operations include, among others: the continued weakness in the Florida real estate market; the level of consumer confidence; our ability to acquire land; increases in interest rates and availability of mortgage financing to our buyers; and increases in construction and homeowner insurance and the availability of insurance. Factors that may affect the results of all of our operations include, among others: adverse weather; natural disasters; effects of climate changes; changes in generally accepted accounting principles; ability to obtain necessary permits from regulatory agencies; our ability to maintain or increase historical revenue and profit margins; general economic conditions, both nationally and in our region; adverse legislation or regulations; availability of skilled construction labor and materials, and material increases in labor and material costs; and our ability to obtain additional and/or renew financing. Other important factors which could cause our actual results to differ materially from the forward-looking statements in this press release are detailed in the Company’s Risk Factors and Management’s Discussion and Analysis of Financial Condition and Results of Operation sections of our Annual Report on Form 10-K and Goldfield’s other filings with the Securities and Exchange Commission, which are available on Goldfield’s website: http://www.goldfieldcorp.com.

For further information, please contact:
The Goldfield Corporation
Phone: (321) 724-1700
Email: investorrelations@goldfieldcorp.com