CARSON CITY, Nev., Dec. 30, 2013 (GLOBE NEWSWIRE) -- Mexus Gold US (OTCQB:MXSG) announced today that progress at the San Felix is being made. Paul Thompson stated, "We have a couple of options we are looking at for the San Felix project both of which will be extremely beneficial to the long term outlook of the company." On December 21 and 22, Mr. Thompson met with four representatives from a Nevada mining company. There are currently six parties negotiating for the San Felix property.
One option will be to commence additional drilling to establish a reserve value which the company believes could be as much as 1 million ounces. This belief is based on historical data as well as preliminary drill results produced by our geologist. A drilling program would allow a 43-101 proven reserve value to be established for this property.
Update on Julio/Santa Elena
Our crew has been working at our goal of doubling our placer production by moving the plant to a new location to give us needed area to expand as we have out grown our present location. We have located a suitable area approximately 1,000 feet to the North and our expansion of the placer goes with our high grade gravity mill and underground mine as well as developing an additional water source for our future open pit heap/leach project. Our open pit mining will start with the mining of the exposed veins, Julio/Santa Elena, of known values originally shown by our geologist Cesar Lemas report.
About Mexus Gold US (OTCQB:MXSG)
Mexus Gold US is a gold, silver and copper exploration company focused on projects in the Western United States and Northern Mexico. Mexus Gold US and its subsidiaries Mexus Enterprises S.A. de C.V. and Mexus Gold Mining S.A. de C.V. have several mining operations in Mexico. Mexican operations include the San Felix Mine; the Mexus-Atzek Mine, a joint venture agreement with Atzek Mineral S.A. de C.V.; the Julio Mine and other prospective areas awaiting additional exploration and evaluation. Mexus Gold Mining S.A. de C.V. and Mexus Enterprises S.A. de C.V. employ over 60 people and utilize third-party consultants and geologists to assess its mining exploration and operations for gold and other precious metal values. 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 mexusgoldus.com.
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.
CONTACT: Paul Thompson CEO/President (775) 721-9960 Info@mexusgoldus.com
Source:Mexus Gold US