CARSON CITY, Nev., Dec. 22, 2014 (GLOBE NEWSWIRE) — Mexus Gold US (OTCQB:MXSG) ("Mexus" or the "Company") announced today that it is still in discussions with multiple major mining companies. There is an ongoing negotiation taking place with one company and a deal will be completed if/when terms can be agreed upon. CEO and President Paul Thompson added "Mexus is doing everything possible to complete a deal in the first part of January, 2015. I believe that a deal will be made and 2015 will prove to be the year that Mexus turns a profit."
Mexus' goal is to complete a joint venture resulting in a $5 million dollar drilling program. The company believes this drill program will result in a 1 million oz gold equivalent reserve property. This information will allow the parties to make a decision as to the actual size and type of operation to pursue and the funding needed to obtain the maximum return possible.
Mexus also announced that that the relocation and rebuilding of its placer gold recovery plant continues. The company estimates that it has moved over 100,000 cubic yards of dirt during the move. This process will continue once their employees return from the standard 2 week Mexican holiday. Progress videos and photos of the placer move can be found on the company website. photos and video.
The company also reiterated that the website now hosts a new CEO Q and A feature. (CEO Q and A Blog) Please email questions to [email protected]. Paul Thompson will attempt to answer a few questions each week which will then be posted to the company website.
The company plans to appoint board of directors in the first part of 2015. The goal is to add expertise and experience across multiple areas pertaining to mining and general business management. Mr. Thompson added "A qualified board will lend credibility and additional transparency to Mexus. This move will also open doors to important avenues like M & A's and corporate funding."
Finally, Mexus announced that it has consolidated its property holdings in the Ures mining district, Sonora state, MX. A team of qualified experts is reviewing these properties to determine which area to begin preliminary exploration on. Mr. Thompson concluded, "Our shareholders need to remember that we are not a one trick pony. We have multiple properties and have had discussions with other property owners throughout Mexico. Our long term goal is to have multiple properties producing gold, silver, and copper."
About Mexus Gold US
MEXUS GOLD US is an American-based exploration company with holdings in Mexico. Mexus' fully owned Julio/Santa Elena property is located 54km NW of Caborca, Mexico. This property sits in an area which is currently being mined by some of the largest mining companies in the world. Mexus has drill results which show a high grade, multi vein system throughout the property. The company looks to have this property in full production by the end of 2014. Mexus also owns the rights to the Ocho Hermanos property, which is located 80km NE of Hermosillo, Mexico. This property will be drilled to show a proven reserve once our flagship property is in full production. Preliminary drilling on this property has been extremely promising. Founded in 2009, Mexus Gold US is committed to protecting the environment, mine safety and employing members of the communities in which it operates.
For more information on Mexus Gold US, visit www.mexusgoldus.com.
Cautionary Statement
Forward looking Statement: Statements in this press release may constitute forward-looking statements and are subject to numerous risks and uncertainties, including the failure to complete successfully the development of new or enhanced products, the Company's future capital needs, the lack of market demand for any new or enhanced products the Company may develop, any actions by the Company's partners that may be adverse to the Company, the success of competitive products, other economic factors affecting the Company and its markets, seasonal changes, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. The actual results may differ materially from those contained in this press release. The Company disclaims any obligation to update any statements in this press release.
Inquiries
Paul Dent, 425-478-4908Original Article: http://globenewswire.com/news-release/2014/12/22/693332/10113213/en/Mexus-Gold-US-Update.html
